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Document and Entity Information (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2013
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Feb. 14, 2014
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Jun. 28, 2013
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| Document Document And Entity Information [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2013 | ||
| Document Fiscal Year Focus | 2013 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | MRC | ||
| Entity Registrant Name | MRC GLOBAL INC. | ||
| Entity Central Index Key | 0001439095 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Common Stock, Shares Outstanding | 101,917,875 | ||
| Entity Public Float | $ 2,209 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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- Details
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of noncurrent assets which have not been itemized or categorized in the footnotes to the financial statements and are a component of Other Assets, Noncurrent (OtherAssetsNoncurrent). Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Consolidated Balance Sheets (Parenthetical) (USD $)
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Dec. 31, 2013
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Dec. 31, 2012
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|---|---|---|
| Consolidated Balance Sheets [Abstract] | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 500,000,000 | 500,000,000 |
| Common stock, shares issued | 101,913,000 | 101,563,000 |
| Common stock, shares outstanding | 101,913,000 | 101,563,000 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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| Consolidated Statements of Income [Abstract] | |||||||
| Sales | $ 5,230,792 | $ 5,570,858 | $ 4,832,423 | ||||
| Cost of sales | 4,276,033 | 4,557,115 | 4,124,271 | ||||
| Gross profit | 954,759 | 1,013,743 | 708,152 | ||||
| Selling, general and administrative expenses | 642,994 | 606,753 | 513,563 | ||||
| Operating income | 311,765 | 406,990 | 194,589 | ||||
| Other (expense) income: | |||||||
| Interest expense | (60,685) | (112,519) | (136,844) | ||||
| Loss on early extinguishment of debt | (113,961) | ||||||
| Expenses associated with refinancing | (5,136) | (1,685) | (9,450) | ||||
| Change in fair value of derivative instruments | 4,731 | 2,186 | 7,044 | ||||
| Other, net | (13,764) | 685 | 429 | ||||
| Income before income taxes | 236,911 | 181,696 | 55,768 | ||||
| Income tax expense | 84,816 | 63,738 | 26,784 | ||||
| Net income | $ 152,095 | $ 117,958 | $ 28,984 | ||||
| Basic earnings per common share | $ 1.50 | [1] | $ 1.22 | [1] | $ 0.34 | ||
| Diluted earnings per common share | $ 1.48 | [1] | $ 1.22 | [1] | $ 0.34 | ||
| Weighted-average common shares, basic | 101,712 | 96,465 | 84,417 | ||||
| Weighted-average common shares, diluted | 102,522 | 96,925 | 84,655 | ||||
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- Definition
Expenses associated with refinancing. No definition available.
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| X | ||||||||||
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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|
| Consolidated Statements of Comprehensive Income [Abstract] | |||
| Net income | $ 152,095 | $ 117,958 | $ 28,984 |
| Other comprehensive (loss) income before tax | |||
| Foreign currency translation adjustments | (20,348) | 4,149 | (7,616) |
| Pension related adjustments | 130 | 25 | 635 |
| Total other comprehensive (loss) income before tax | (20,218) | 4,174 | (6,981) |
| Income tax benefit (expense) related to components of other comprehensive income | 1,960 | (198) | 697 |
| Other comprehensive (loss) income, net of tax | (18,258) | 3,976 | (6,284) |
| Comprehensive income | $ 133,837 | $ 121,934 | $ 22,700 |
| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Before tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Before tax and net of reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Before tax amount, net of reclassifications, of pension and other postretirement benefit plans (gain) loss included in accumulated other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Consolidated Statements of Stockholders' Equity (USD $)
In Thousands, except Share data |
Common Stock [Member]
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Additional Paid-in Capital [Member]
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Retained Earnings (Deficit) [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
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Total
|
|---|---|---|---|---|---|
| Balance at Dec. 31, 2010 | $ 844 | $ 1,274,560 | $ (565,790) | $ (19,856) | $ 689,758 |
| Balance, shares at Dec. 31, 2010 | 84,404,000 | ||||
| Net income | 28,984 | 28,984 | |||
| Foreign currency translation, net of tax | (6,919) | (6,919) | |||
| Pension related adjustments, net of tax | 635 | 635 | |||
| Vesting of restricted stock | 1 | 1 | |||
| Vesting of restricted stock, shares | 23,000 | ||||
| Forfeited dividends on forfeited unvested restricted stock | 15 | 15 | |||
| Equity-based compensation expense | 8,385 | 8,385 | |||
| Exercise of stock options | 3 | 3 | |||
| Balance at Dec. 31, 2011 | 844 | 1,282,949 | (536,791) | (26,140) | 720,862 |
| Balance, shares at Dec. 31, 2011 | 84,427,000 | ||||
| Net income | 117,958 | 117,958 | |||
| Foreign currency translation, net of tax | 3,793 | 3,793 | |||
| Pension related adjustments, net of tax | 183 | 183 | |||
| Common stock issued in initial public offering | 171 | 333,171 | 333,342 | ||
| Common stock issued in initial public offering, shares | 17,046,000 | ||||
| Vesting of restricted stock, shares | 22,000 | ||||
| Forfeited dividends on forfeited unvested restricted stock | 3 | 3 | |||
| Equity-based compensation expense | 8,475 | 8,475 | |||
| Exercise of stock options | 1 | 676 | 677 | ||
| Exercise of stock options, shares | 68,000 | ||||
| Tax benefit on equity-based compensation | 629 | 629 | |||
| Balance at Dec. 31, 2012 | 1,016 | 1,625,900 | (418,830) | (22,164) | 1,185,922 |
| Balance, shares at Dec. 31, 2012 | 101,563,000 | ||||
| Net income | 152,095 | 152,095 | |||
| Foreign currency translation, net of tax | (18,344) | (18,344) | |||
| Pension related adjustments, net of tax | 86 | 86 | |||
| Vesting of restricted stock, shares | 135,000 | ||||
| Shares withheld for taxes | (1,512) | (1,512) | |||
| Shares withheld for taxes, shares | (48,000) | ||||
| Forfeited restricted stock | (7) | (7) | |||
| Equity-based compensation expense | 15,488 | 15,488 | |||
| Exercise of stock options | 3 | 3,282 | 3,285 | ||
| Exercise of stock options, shares | 263,000 | ||||
| Tax benefit on equity-based compensation | 1,261 | 1,261 | |||
| Other | (6) | (6) | |||
| Balance at Dec. 31, 2013 | $ 1,019 | $ 1,644,406 | $ (266,735) | $ (40,422) | $ 1,338,268 |
| Balance, shares at Dec. 31, 2013 | 101,913,000 |
| X | ||||||||||
|
- Definition
Restricted stock award, shares withheld for taxes. No definition available.
|
| X | ||||||||||
|
- Definition
Restricted stock award, shares withheld for taxes, shares. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax benefit associated with any equity-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax and reclassifications amount of pension and other postretirement benefit plans (gain) loss included in accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total value of forfeitures related to restricted stock awards forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The value of dividends forfeited related to restricted stock awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued and outstanding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents movements included in the statement of changes in stockholders' equity which are not separately disclosed or provided for elsewhere in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Operating activities | |||
| Net income | $ 152,095 | $ 117,958 | $ 28,984 |
| Adjustments to reconcile net income to net cash provided by (used in) operations: | |||
| Depreciation and amortization | 22,338 | 18,585 | 17,046 |
| Amortization of intangibles | 52,072 | 49,466 | 50,652 |
| Equity-based compensation expense | 15,488 | 8,475 | 8,385 |
| Deferred income tax benefit | (19,823) | (20,432) | (16,362) |
| Amortization of debt issuance costs | 5,777 | 8,782 | 10,456 |
| Write off of debt issuance costs | 2,865 | 1,685 | 9,450 |
| Loss on early extinguishment of debt | 113,961 | ||
| (Decrease) increase in LIFO reserve | (20,180) | (24,140) | 73,703 |
| Change in fair value of derivative instruments | (4,731) | (2,186) | (7,044) |
| Provision for uncollectible accounts | (298) | 2,428 | 433 |
| Foreign currency losses (gains) | 12,913 | (766) | (604) |
| Other non-cash items | 1,137 | 7,727 | 4,629 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 2,069 | 22,399 | (177,744) |
| Inventories | 4,479 | 26,674 | (182,173) |
| Income taxes payable | (7,057) | (12,593) | 45,333 |
| Other current assets | (8,738) | (681) | (35) |
| Accounts payable | 117,320 | (84,380) | 36,550 |
| Accrued expenses and other current liabilities | (4,138) | 7,110 | (4,556) |
| Net cash provided by (used in) operations | 323,588 | 240,072 | (102,897) |
| Investing activities | |||
| Purchases of property, plant and equipment | (22,068) | (26,189) | (18,056) |
| Proceeds from the disposition of property, plant and equipment | 4,583 | 2,272 | 3,087 |
| Acquisitions, net of cash acquired of $2,433, $0 and $2,036 | (46,794) | (152,367) | (39,865) |
| Proceeds from the sale of assets held for sale | 10,594 | ||
| Other investment and notes receivable transactions | (5,130) | (6,755) | (3,795) |
| Net cash used in investing activities | (69,409) | (183,039) | (48,035) |
| Financing activities | |||
| Proceeds from the sale of common stock | 333,342 | ||
| Payments on revolving credit facilities | (2,150,188) | (2,422,136) | (2,237,449) |
| Proceeds from revolving credit facilities | 1,738,213 | 2,571,835 | 2,387,877 |
| Purchases and redemption of senior secured notes | (1,135,223) | ||
| Proceeds from issuance of term loan | 150,000 | 643,500 | |
| Payments on long term obligations | (6,859) | (33,081) | |
| Debt issuance costs paid | (697) | (20,038) | (9,836) |
| Proceeds from exercise of stock options | 3,285 | 677 | 3 |
| Tax benefit on stock options | 1,261 | 629 | |
| Other financing activities | (6) | 3 | |
| Net cash (used in) provided by financing activities | (264,991) | (60,492) | 140,595 |
| Decrease in cash | (10,812) | (3,459) | (10,337) |
| Effect of foreign exchange rate on cash | (1,090) | (5,578) | 262 |
| Cash - beginning of year | 37,090 | 46,127 | 56,202 |
| Cash - end of year | 25,188 | 37,090 | 46,127 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | 55,484 | 104,846 | 124,039 |
| Cash paid for (received from) income taxes | $ 110,104 | $ 96,526 | $ (1,051) |
| X | ||||||||||
|
- Definition
Non-operating losses (gains) and other items not using (providing) cash No definition available.
|
| X | ||||||||||
|
- Definition
Amounts received from the sale of of assets held for sale during the reporting period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate realized and unrealized loss on foreign currency transactions included in net income. Includes loss on a foreign currency forward exchange contract. Does not include foreign currency transactions designated as hedges of net investment in a foreign entity or intercompany foreign currency transactions that are of a long-term nature. Gross of tax effect. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to taxing authorities for taxes that are based on the reporting entity's earnings, net of amounts receivable from taxing authorities for refunds of overpayments or recoveries of income taxes, and in deferred and other tax liabilities and assets. No definition available.
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the change in the inventory reserve representing the cumulative difference in cost between the first in, first out and the last in, first out inventory valuation methods and any LIFO decrement which have been reflected in the statement of income during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash inflow associated with loan origination (the process when securing a mortgage for a piece of real property) or lease origination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to pay off an obligation from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with security instruments that either represent a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer. Includes repayments of (a) debt, (b) capital lease obligations, (c) mandatory redeemable capital securities, and (d) any combination of (a), (b), or (c). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tax benefits realized from the exercise of stock options resulting in reductions in the entity's income taxes, which increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statements of Cash Flows (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Consolidated Statements of Cash Flows [Abstract] | |||
| Acquisitions, cash acquired | $ 2,433 | $ 0 | $ 2,036 |
| X | ||||||||||
|
- Definition
The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Significant Accounting Policies
|
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
| Significant Accounting Policies [Abstract] | |
| Significant Accounting Policies | NOTE 1—SIGNIFICANT ACCOUNTING POLICIES Business Operations: MRC Global Inc. is a holding company headquartered in Houston, Texas. Our wholly owned subsidiaries are global distributors of pipe, valves, fittings and related products and services across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) sectors. We have branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia and Australasia. Our products are obtained from a broad range of suppliers. Basis of Presentation: The consolidated financial statements include the accounts of MRC Global Inc. and its wholly owned and majority owned subsidiaries (collectively referred to as the “Company” or by such terms as “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation. Use of Estimates: The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. We believe that our most significant estimates and assumptions are related to estimated losses on accounts receivable, the last-in, first-out (“LIFO”) inventory costing methodology, estimated realizable value on excess and obsolete inventories, goodwill, intangible assets, deferred taxes and self-insurance programs. Actual results could differ materially from those estimates. Cash Equivalents: We consider all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Allowance for Doubtful Accounts: We evaluate the adequacy of the allowance for losses on receivables based upon periodic evaluation of accounts that may have a higher credit risk using information available about the customer and other relevant data. This formal analysis is inherently subjective and requires us to make significant estimates of factors affecting doubtful accounts, including customer specific information, current economic conditions, volume, growth and composition of the account, and other factors such as financial statements, news reports and published credit ratings. The amount of the allowance for the remainder of the trade balance is not evaluated individually but is based upon historical loss experience. Because this process is subjective and based on estimates, ultimate losses may differ from those estimates. Receivable balances are written off when we determine that the balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance when received. The provision for losses on receivables is included in selling, general and administrative expenses in the accompanying consolidated statements of income. Inventories: Our inventories are valued at the lower of cost, principally LIFO, or market. We believe that the use of LIFO results in a better matching of costs and revenues. This practice excludes certain inventories, which are held outside of the United States, approximating $264.0 million and $318.9 million at December 31, 2013 and 2012, respectively, which are valued at the lower of weighted-average cost or market. Our inventory is substantially comprised of finished goods. Allowances for excess and obsolete inventories are determined based on analyses comparing inventories on hand to sales trends. The allowance, which totaled $23.2 million and $19.0 million at December 31, 2013 and 2012, respectively, is the amount deemed necessary to reduce the cost of the inventory to its estimated realizable value. Debt Issuance Costs: We defer costs directly related to obtaining financing and amortize them over the term of the indebtedness on a straight-line basis. The use of the straight-line method does not produce results that are materially different from those which would result from the use of the effective interest method. These amounts are reflected in the consolidated statement of operations as a component of interest expense. Debt issuance costs are reflected in other assets and totaled $19.1 million and $25.2 million, net of accumulated amortization of $5.7 million and $4.8 million, at December 31, 2013 and 2012, respectively. Fixed Assets: Land, buildings and equipment are stated on the basis of cost. For financial statement purposes, depreciation is computed over the estimated useful lives of such assets principally by the straight-line method; accelerated depreciation and cost recovery methods are used for income tax purposes. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvements. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred. Goodwill and Other Intangible Assets: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may exist. We evaluate goodwill for impairment at three reporting units that mirror our three segments (U.S., Canada and International). The goodwill impairment test compares the carrying value of the reporting unit that has the goodwill with the estimated fair value of that reporting unit. If the carrying value is more than the estimated fair value, we then calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the estimated fair value of the reporting unit. Impairment losses are recognized to the extent that recorded goodwill exceeds implied goodwill. Our impairment methodology uses discounted cash flow and multiples of cash earnings valuation techniques, as well as valuation comparisons to similar businesses. These valuation methods require us to make certain assumptions and estimates regarding future operating results, the extent and timing of future cash flows, working capital, sales prices, profitability, discount rates and growth trends. While we believe that these assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Intangible assets with indefinite useful lives are tested for impairment annually or more frequently if circumstances indicate that impairment may exist. This test compares the carrying value of the indefinite lived intangible assets with their estimated fair value. If the carrying value is more than the estimated fair value, impairment losses are recognized in an amount equal to the excess of the carrying value over the estimated fair value. Our impairment methodology uses discounted cash flow and estimated royalty rate valuation techniques. These valuation methods require us to make certain assumptions and estimates regarding future operating results, sales prices, discount rates and growth trends. While we believe that such assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Other intangible assets primarily include trade names, customer bases and noncompetition agreements resulting from business acquisitions. Other intangible assets are recorded at fair value at the date of acquisition. Amortization is provided using the straight-line method over their estimated useful lives, ranging from two to twenty years. The carrying value of amortizable intangible assets is subject to an impairment test when events or circumstances indicate a possible impairment. When events or circumstances indicate a possible impairment, we assess recoverability from future operations using undiscounted cash flows derived from the lowest appropriate asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge would be recognized to the extent that the carrying value exceeds the fair value, which is determined based on a discounted cash flow analysis. While we believe that assumptions and estimates utilized in the impairment analysis are reasonable, the actual results may differ materially from the projected results. These impairments are determined prior to performing our goodwill impairment test. Derivatives and Hedging: From time to time, we utilize interest rate swaps to reduce our exposure to potential interest rate increases. Changes in the fair values of our derivative instruments are based upon independent market quotes. We do not designate our interest rate swaps as hedging instruments; therefore, we record our interest rate swaps on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. We utilize foreign exchange forward contracts (exchange contracts) and options to manage our foreign exchange rate risks resulting from purchase commitments and sales orders. Changes in the fair values of our exchange contracts are based upon independent market quotes. We do not designate our exchange contracts as hedging instruments; therefore, we record our exchange contracts on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. Fair Value: We measure certain of our assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions for inputs used in the valuation methodologies to measuring fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs for the asset or liability. Unobservable inputs reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability (including all assumptions about risk). Certain assets and liabilities are measured at fair value on a nonrecurring basis. Our assets and liabilities measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill and other intangible assets. We do not measure these assets at fair value on an ongoing basis; however, these assets are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Our impairment methodology for goodwill and other intangible assets uses both (i) a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding the extent and timing of future cash flows, discount rates and growth trends and (ii) valuation based on our publicly traded common stock. As all of the assumptions employed to measure these assets and liabilities on a nonrecurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3. We have not elected to apply the fair value option to any of our eligible financial assets and liabilities. Insurance: We are self-insured for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. In addition, we maintain a nonmaterial deductible program as they relate to insurance for property, stock throughput, inventory, workers’ compensation, automobile liability, asbestos claims, general liability claims (including, among others, certain product liability claims for property damage, death or injury) and employee healthcare. These programs have deductibles ranging from $25,000 to $1.0 million and are secured by various letters of credit totaling $6.5 million. Our estimated liability and related expenses for claims are based in part upon estimates that insurance carriers, third-party administrators and actuaries provide. We believe that insurance reserves are sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary limits. We do not have excess coverage for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. Our accrued liabilities related to all deductibles/retentions under insurance programs (other than employee healthcare) were $7.8 million and $5.9 million as of December 31, 2013 and 2012, respectively. In the area of employee healthcare, we have a commercially reasonable excess stop loss protection on a per person per year basis. Reserves for self-insurance accrued liabilities for employee healthcare were $3.3 million and $4.0 million as of December 31, 2013 and 2012, respectively. Income Taxes: We use the liability method for determining our income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Under this method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Deferred tax assets and liabilities are recorded for differences between the financial reporting and tax bases of assets and liabilities using the tax rate expected to be in effect when the taxes will actually be paid or refunds received. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance to reduce deferred tax assets is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining the need for valuation allowances and our ability to utilize our deferred tax assets, we consider and make judgments regarding all the available positive and negative evidence, including the timing of the reversal of deferred tax liabilities, estimated future taxable income, ongoing, prudent and feasible tax planning strategies and recent financial results of operations. The amount of the deferred tax assets considered realizable however could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present in certain jurisdictions and additional weight may be given to subjective evidence such as our projections for growth. Our tax provision is based upon our expected taxable income and statutory rates in effect in each country in which we operate. We are subject to the jurisdiction of numerous domestic and foreign tax authorities, as well as to tax agreements and treaties among these governments. Determination of taxable income in any jurisdiction requires the interpretation of the related tax laws and regulations and the use of estimates and assumptions regarding significant future events such as the amount, timing and character of deductions, permissible revenue recognition methods under the tax law and the sources and character of income and tax credits. Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact on the amount of income taxes we provide during any given year. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including any related appeals or litigation processes, on the basis of the technical merits. We adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information is available. We classify interest and penalties related to unrecognized tax positions as income taxes in our financial statements. We intend to permanently reinvest certain earnings of our foreign subsidiaries in operations outside the U.S., and accordingly, we have not provided for U.S. income taxes on such earnings. Foreign Currency Translation and Transactions: The functional currency of our foreign operations is the applicable local currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income. The balance sheet accounts (with the exception of stockholders’ equity) are translated using current exchange rates as of the balance sheet date. Stockholders’ equity is translated at historical exchange rates and revenue and expense accounts are translated using a weighted-average exchange rate during the year. Gains or losses resulting from foreign currency transactions are recognized in the consolidated statements of income. Equity-Based Compensation: Our equity-based compensation consisted and consists of (i) restricted common units and profit units of PVF Holdings LLC, our former parent, and (ii) restricted stock and nonqualified stock options of our Company. The cost of employee services received in exchange for an award of an equity instrument is measured based on the grant-date fair value of the award. Our policy is to expense equity-based compensation using the fair-value of awards granted, modified or settled. Restricted common units, profit units and restricted stock are credited to equity as they are expensed over their vesting periods based on the grant date value of the shares vested. The fair value of nonqualified stock options is measured on the grant date of the related equity instrument using the Black-Scholes option-pricing model and is recognized as compensation expense over the applicable vesting period. Revenue Recognition: Sales to our principal customers are made pursuant to agreements that normally provide for transfer of legal title and risk upon shipment. We recognize revenue as products are shipped, title has transferred to the customer and the customer assumes the risks and rewards of ownership, and collectability is reasonably assured. Freight charges billed to customers are reflected in revenues. Return allowances are estimated using historical experience. Amounts received in advance of shipment are deferred and recognized as revenue when the products are shipped and title transfers. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales in the accompanying consolidated statements of income. Cost of Sales: Cost of sales includes the cost of inventory sold and related items, such as vendor rebates, inventory allowances, and shipping and handling costs associated with inbound and outbound freight, as well as depreciation and amortization and amortization of intangible assets. Certain purchasing costs and warehousing activities (including receiving, inspection and stocking costs), as well as general warehousing expenses, are included in selling, general and administrative expenses and not in cost of sales. As such, our gross profit may not be comparable to others that may include these expenses as a component of cost of sales. Purchasing and warehousing costs approximated $37.2 million, $34.8 million, and $27.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Earnings per Share: Basic earnings per share are computed based on the weighted-average number of common shares outstanding, excluding any dilutive effects of unexercised stock options and unvested restricted stock. Diluted earnings per share are computed based on the weighted-average number of common shares outstanding including any dilutive effect of unexercised stock options and unvested restricted stock. The dilutive effect of unexercised stock options and unvested restricted stock is calculated under the treasury stock method. Concentration of Credit Risk: Most of our business activity is with customers in the energy and industrial sectors. In the normal course of business, we grant credit to these customers in the form of trade accounts receivable. These receivables could potentially subject us to concentrations of credit risk; however, we minimize this risk by closely monitoring extensions of trade credit. We generally do not require collateral on trade receivables. We have a broad customer base doing business in many regions of the world. During 2013, 2012 and 2011, we did not have sales to any one customer in excess of 10% of gross sales. At those respective year-ends, no individual customer balances exceeded 10% of gross accounts receivable. We have a broad supplier base, sourcing our products in most regions of the world. During 2013, 2012 and 2011, we did not have purchases from any one vendor in excess of 10% of our gross purchases. At those respective year-ends no individual vendor balance exceeded 10% of gross accounts payable. We maintain the majority of our cash and cash equivalents with several financial institutions. These financial institutions are located in many different geographical regions with varying economic characteristics and risks. Deposits held with banks may exceed insurance limits. We believe the risk of loss associated with our cash equivalents to be remote. Segment Reporting: We have three operating and reportable segments, the United States of America, Canada, and International, which includes Europe, Asia, and Australasia. These segments represent our global business of providing pipe, valves, fittings and related products and services to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining and petrochemical processing) markets, through our distribution operations located throughout the world.
Reclassifications: Certain immaterial amounts in the prior years’ balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation.
Recently Issued Accounting Standards: In February 2013, the Financial Accounting Standards Board (“FASB”) issued Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which specifies that a cumulative translation adjustment (“CTA”) should be released into earnings when an entity ceases to have a controlling financial interest in a subsidiary or group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of CTA attributable to the investment would be recognized in earnings upon sale of the investment. When an entity sells either a part or all of its investment in a consolidated foreign entity, CTA would be recognized in earnings only if the sale results in the parent no longer having a controlling financial interest in the foreign entity. CTA would be recognized in earnings in a business combination achieved in stages. ASU 2013-05 will be effective for us prospectively in 2014. We do not expect this update to have a material impact on our financial statements.
In July 2013, the FASB issued Standards Update No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The objective of this update is to eliminate the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under this guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except in certain circumstances. This update does not require any new disclosures and is effective for annual and interim periods beginning after December 31, 2013. The amendments in this update will be applied prospectively to all unrecognized tax benefits that exist at the effective date. We do not expect this update to have a material impact on our financial statements.
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Acquisitions
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Dec. 31, 2013
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| Acquisitions | NOTE 2—ACQUISITIONS In 2013, we completed two acquisitions for an aggregate purchase price of $46.8 million. These acquisitions included:
The preliminary purchase price allocation of each acquisition was based on preliminary valuations. Our estimates and assumptions are subject to change upon the receipt and review of final valuations. The goodwill recognized for the acquisitions was primarily attributable to the expected profitability of the acquired businesses and synergies expected to arise after the acquisitions. Goodwill recorded in connection with these transactions is deductible. The consideration paid for these acquisitions has been allocated as follows (in millions):
In 2012, we completed three acquisitions for an aggregate purchase price of $152.4 million. These acquisitions included OneSteel Piping Systems Australia (“MRC PSA”), a PVF distributor supplying the oil and gas, mining and mineral processing industries in Australia, the assets of Chaparral Supply with support in the Mississippian Lime formation in Oklahoma and Kansas, and the assets and operations of Production Specialty Services, Inc. (“PSS”), a PVF distributor in the Permian Basin and Eagle Ford shale regions of Texas and New Mexico. In 2011, we completed two acquisitions for an aggregate purchase price of $41.9 million. These acquisitions included Stainless Pipe and Fittings Australia Pty. Ltd. (“MRC SPF”), a distributor of stainless steel piping products, and certain assets and operations of Valve Systems and Controls (“VSC”), a Houston, Texas based company specializing in valve automation. The impact of these transactions was not material to our financial statements in each of these respective years. Accordingly, pro forma information has not been presented.
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The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accounts Receivable
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Dec. 31, 2013
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| Accounts Receivable | NOTE 3—ACCOUNTS RECEIVABLE The rollforward of our allowance for doubtful accounts is as follows (in thousands):
Our accounts receivable is also presented net of sales returns and allowances. Those allowances approximated $3.1 million and $3.3 million at December 31, 2013 and 2012, respectively.
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The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventories
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Dec. 31, 2013
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NOTE 4—INVENTORIES The composition of our inventory is as follows (in thousands):
During 2012, our inventory quantities were reduced, resulting in a liquidation of a LIFO inventory layer that was carried at a lower cost prevailing from a prior year, as compared with current costs in the current year (a “LIFO decrement”). A LIFO decrement results in the erosion of layers created in earlier years, and, therefore, a LIFO layer is not created for years that have decrements. In 2012, the effect of this LIFO decrement decreased cost of sales by approximately $1.3 million. There was no LIFO decrement in 2013.
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The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property, Plant and Equipment
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| Property, Plant and Equipment | NOTE 5—PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following (in thousands):
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The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets
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| Goodwill and Other Intangible Assets | NOTE 6—GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill by segment for the years ended December 31, 2013, 2012 and 2011 are as follows (in thousands):
(1)Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively. Other intangible assets by major classification consist of the following (in thousands):
(1)Net of accumulated impairment losses of $76.2 million. Amortization of Intangible Assets Total amortization of intangible assets for each of the years ending December 31, 2014 to 2018 is currently estimated as follows (in thousands):
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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt
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Dec. 31, 2013
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| Long-Term Debt [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | NOTE 7—LONG-TERM DEBT The significant components of our long-term debt are as follows (in thousands):
Senior Secured Term Loan B: In November 2012, we entered into a $650 million seven-year Term Loan B (the “Term Loan”), with Bank of America N.A. as administrative agent, and other lenders from time to time parties thereto. In November 2013, we increased the principal amount of the term loan to $793.5 million and modified the interest rates to those outlined below. Accordion. The Term Loan allows for incremental increases up to an aggregate of $200 million, plus an additional amount such that the Company’s senior secured leverage ratio (the ratio of the Company’s Consolidated EBITDA (as defined under the Term Loan) to senior secured debt) (net of up to $75 million of unrestricted cash) would not exceed 3.50 to 1.00. Maturity. The scheduled maturity date of the Term Loan is November 9, 2019. The Term Loan will amortize in equal quarterly installments at 1% a year with the payment of the balance at maturity. Guarantees. The Company and all of the U.S. borrower’s current and future wholly owned material U.S. subsidiaries guaranteed the Term Loan subject to certain exceptions. Security. The Term Loan is secured by a first lien on all of the Company’s assets and the assets of its domestic subsidiaries, subject to certain exceptions and other than the collateral securing the Global ABL Facility (which includes accounts receivable, inventory and related assets, collectively, the “ABL collateral”), and by a second lien on the ABL collateral. In addition, a pledge secures the Term Loan of all the capital stock of the Company’s domestic subsidiaries and 65% of the capital stock of its first tier foreign subsidiaries, subject to certain exceptions. Interest Rates and Fees. The Company has the option to pay interest at a base rate, subject to a floor of 2.00%, plus an applicable margin, or at a rate based on LIBOR, subject to a floor of 1.00%, plus an applicable margin. The applicable margin for base rate loans is 300 basis points, and the applicable margin for LIBOR loans is 400 basis points. The margin steps down by 25 basis points if the Company’s consolidated total leverage ratio (as defined under the Term Loan) is less than 2.50 to 1.00. Voluntary Prepayment. The Company is able to voluntarily prepay the principal without penalty or premium, other than a 1% premium for re-pricing transactions that occur prior to May 19, 2014. Mandatory Prepayment. The Company is required to repay the Term Loan with certain asset sale and insurance proceeds, certain debt proceeds and 50% of excess cash flow (reducing to 25% if the Company’s senior secured leverage ratio is no more than 2.75 to 1.00 and 0% if the Company’s senior secured leverage ratio is no more than 2.50 to 1.00). The Company is not required to make a mandatory prepayment in 2014 related to the fiscal year 2013. Restrictive Covenants. The Term Loan does not include any financial covenants. The Term Loan contains restrictive covenants (in each case, subject to exclusions) that limit, among other things, the ability of the Company and its restricted subsidiaries (including the Borrower) to: •make investments; • prepay certain indebtedness; •grant liens; • incur additional indebtedness; •sell assets; • make fundamental changes; •enter into transactions with affiliates; and • in the case of the Company, to pay dividends. The Term Loan also contains other customary restrictive covenants. The covenants are subject to various baskets and materiality thresholds, with certain of the baskets permitted by the restrictions on the repayment of subordinated indebtedness, restricted payments and investments being available only when the senior secured leverage ratio of the Company and its restricted subsidiaries is less than 3.25:1.00. The Term Loan provides that the Company and its restricted subsidiaries may incur any first lien indebtedness that is pari passu to the Term Loan so long as the pro forma senior secured leverage ratio of the Company and its restricted subsidiaries is less than or equal to 3.50:1.00. The Company and its restricted subsidiaries may incur any second lien indebtedness so long as the pro forma junior secured leverage ratio of the Company and its restricted subsidiaries is less than or equal to 4.00:1.00. The Company and its restricted subsidiaries may incur any unsecured indebtedness so long as the total leverage ratio of the Company and its restricted subsidiaries is less than or equal to 5.00:1.00. Additionally, under the Term Loan, the Company and its restricted subsidiaries may incur indebtedness under the Global ABL Facility (or any replacement facility) in an amount not to exceed the greater of $1.3 billion and a borrowing base (equal to, subject to certain exceptions, 85% of all accounts receivable and 65% of the book value of all inventory owned by the Company and its restricted subsidiaries). The Term Loan contains certain customary representations and warranties, affirmative covenants and events of default, including, among other things, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain indebtedness, certain events of bankruptcy, certain events under ERISA, judgment defaults, actual or asserted failure of any material guaranty or security documents supporting the Term Loan to be in full force and effect and change of control. If such an event of default occurs, the Agent under the Term Loan is entitled to take various actions, including the acceleration of amounts due under the Term Loan and all other actions that a secured creditor is permitted to take following a default. Global ABL Credit Facility: In March 2012, we entered into a multi-currency global asset-based revolving credit facility (the “Global ABL Facility”) which replaced our then existing asset-based lending credit facility, our MRC Transmark term loan and revolving credit facility and our MRC Transmark overdraft facility. The five-year Global ABL Facility is comprised of $1.25 billion of total revolving credit facilities, including $977 million in the United States, $170 million in Canada, $12 million in the United Kingdom, $75 million in Australia, $9 million in the Netherlands and $7 million in Belgium. The facility contains an accordion feature that allows us to increase the principal amount of the facility by up to $300 million. Each of our current and future wholly owned material U.S. subsidiaries and MRC Global Inc. guarantees the obligations of our borrower subsidiaries under the Global ABL Facility. Additionally, each of our non-U.S. borrower subsidiaries guarantees the obligations of our other non-U.S. borrower subsidiaries under the Global ABL Facility. Obligations under the U.S. tranche are primarily secured, subject to certain exceptions, by a first-priority security interest in the accounts receivable, inventory and related assets of our wholly owned, material U.S. subsidiaries. The obligations of any of our non-U.S. borrower subsidiaries are primarily secured, subject to certain exceptions, by a first-priority security interest in the accounts receivable, inventory and related assets of the non-U.S. subsidiary and our wholly owned material U.S. subsidiaries. No non-U.S. subsidiary guarantees the U.S. tranche and no property of our non-U.S. subsidiaries secures the U.S. tranche. The security interest in accounts receivable, inventory and related assets of the U.S. borrower subsidiaries ranks prior to the security interest in this collateral which secures the Term Loan. Each of our non-U.S. borrower subsidiaries has a separate standalone borrowing base that limits the non-U.S. subsidiary’s ability to borrow under its respective tranche, provided that the non-U.S. subsidiaries may utilize excess availability under the U.S. tranche to borrow amounts in excess of their respective borrowing bases (but not to exceed the applicable commitment amount for the foreign subsidiary’s jurisdiction), which utilization will reduce availability under the U.S. tranche dollar for dollar. Subject to the foregoing, our ability to borrow in each jurisdiction, other than Belgium, under the Global ABL Facility is limited by a borrowing base in that jurisdiction equal to 85% of eligible receivables, plus the lesser of 70% of eligible inventory and 85% of appraised net orderly liquidation value of the inventory. In Belgium, our borrowing is limited by a borrowing base determined under Belgian law. U.S. borrowings under the facility bear interest at LIBOR plus a margin varying between 1.50% and 2.00% based on our fixed charge coverage ratio. Borrowings by our foreign borrower subsidiaries are generally subject to the same interest rate margins with the benchmark rate for such borrowings varying based on the currency in which such borrowings are made. Senior Secured Notes: In a series of transactions from June to September 2012, we purchased in the open market $188.7 million in principal of our 9.50% senior secured notes due 2016 for $205.0 million. We incurred a pre-tax loss on the purchase of the senior secured notes of $21.7 million related to the purchase premium, the write off of unamortized deferred financing costs and the write off of original discount. In November 2012, we redeemed the remaining $861.3 million of senior secured notes. The early redemption required the payment of a premium of $68.9 million. When combined with the write off of unamortized deferred financing costs and write off of original issue discount, this redemption resulted in a pre-tax loss of $92.2 million. Availability: At December 31, 2013, availability under our revolving credit facilities was $776.9 million. Interest on Borrowings: The interest rates on our borrowings outstanding at December 31, 2013 and 2012, including the amortization of original issue discount on the Term Loan, were as follows:
Maturities of Long-Term Debt: At December 31, 2013, annual maturities of long-term debt during the next five years and thereafter are as follows (in thousands):
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The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Financial Instruments
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Dec. 31, 2013
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| Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Financial Instruments | NOTE 8—DERIVATIVE FINANCIAL INSTRUMENTS We use derivative financial instruments to help manage our exposure to interest rate risk and fluctuations in foreign currencies. All of our derivative instruments are freestanding and, accordingly, changes in their fair market value are recorded in earnings. In December 2013, we entered into foreign exchange forward contracts with a notional amount of $1.6 billion Norwegian Krone ($260 million) related to the January 2014 acquisition of Stream AS.
The table below provides data about the fair value of the derivative instruments that are recorded in our consolidated balance sheets (in thousands):
The table below provides data about the amount of gains and (losses) recognized in our consolidated statements of operations related to our derivative instruments (in thousands):
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The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Dec. 31, 2013
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| Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | NOTE 9—INCOME TAXES The components of our income before income taxes were (in thousands):
Income taxes included in the consolidated statements of income consist of (in thousands):
Our effective tax rate varied from the statutory federal income tax rate for the following reasons (in thousands):
Significant components of our current deferred tax assets and liabilities are as follows (in thousands):
We record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. If we were to determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance, which would reduce the provision for income taxes. In the United States, we had approximately $101.6 million of state net operating loss carryforwards as of December 31, 2013, which will expire in future years through 2033 and foreign tax credit carryforwards of $4.4 million expiring in 2022. In certain non-U.S. jurisdictions, we had $34.6 million of net operating loss carryforwards, of which $30.6 million have no expiration and $4.0 million will expire in future years through 2022. We consider the undistributed earnings of our foreign subsidiaries to be indefinitely reinvested, as we have no current intention to repatriate these earnings. As such, deferred income taxes are not provided for temporary differences of approximately $192.9 million and $189.4 million as of December 31, 2013 and 2012, respectively, representing earnings of non-U.S. subsidiaries intended to be permanently reinvested. These additional foreign earnings could become subject to additional tax if remitted, or deemed remitted, as a dividend. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis difference is not practicable. Our tax filings for various periods are subject to audit by the tax authorities in most jurisdictions where we conduct business. We are no longer subject to U.S. federal income tax examination for all years through 2009 and the statute of limitations at our international locations is generally six to seven years. At December 31, 2013 and 2012, our unrecognized tax benefits were immaterial to our consolidated financial statements.
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stockholders' Equity
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Dec. 31, 2013
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| Stockholders' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity | NOTE 10—STOCKHOLDERS’ EQUITY Preferred Stock We have authorized 100,000,000 shares of preferred stock. Our Board of Directors has the authority to issue shares and set the terms of the shares of preferred stock. As of December 31, 2013 and 2012, there were no shares of preferred stock issued or outstanding. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, in the accompanying consolidated balance sheets consists of the following (in thousands):
Earnings per Share Earnings per share are calculated in the table below (in thousands, except per share amounts).
Stock options and shares of restricted stock are disregarded in this calculation if they are determined to be anti-dilutive. For the years ended December 31, 2013, 2012 and 2011, our anti-dilutive stock options approximated 0.5 million, 2.1 million and 2.3 million, respectively.
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Benefit Plans
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Dec. 31, 2013
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| Employee Benefit Plans [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefit Plans | NOTE 11—EMPLOYEE BENEFIT PLANS Equity Compensation Plans: Our 2007 Stock Option Plan permitted the grant of stock options to our employees, directors and consultants for up to 3,750,000 shares of common stock. The options were not to be granted with an exercise price less than the fair market value of the Company’s common stock on the date of the grant, nor for a term exceeding ten years. Vesting generally occurred over a five year period on the anniversaries of the date specified in the employees’ respective option agreements, subject to accelerated vesting under certain circumstances set forth in the option agreements. During 2013, 262,586 stock options were exercised and no stock options were granted under this plan. Under the terms of our 2007 Restricted Stock Plan, up to 500,000 shares of restricted stock could have been granted at the direction of the Board of Directors and vesting generally occurred in one-fourth increments on the second, third, fourth and fifth anniversaries of the date specified in the employees’ respective restricted stock agreements, subject to accelerated vesting under certain circumstances set forth in the restricted stock agreements. Fair value was based on the fair market value of our stock on the date of issuance. We expense the fair value of the restricted stock grants on a straight-line basis over the vesting period. Under the terms of the 2007 Stock Option and Restricted Stock Plans, all previously granted stock options and restricted stock were to vest when funds affiliated with Goldman, Sachs & Co. ceased to own more than 5,141,547 shares of our common stock. Upon completion of the November 2013 sale of our common stock by Goldman, Sachs & Co., 852,939 stock options and 134,211 shares of restricted stock vested triggering the accelerated recognition of $5.2 million of equity-based compensation expense. In April 2012, we replaced the 2007 Stock Option Plan and the 2007 Restricted Stock Plan with the 2011 Omnibus Incentive Plan. No additional shares or other equity interests will be awarded under the prior plans. The 2011 Omnibus Incentive Plan has 3,250,000 shares reserved for issuance pursuant to the plan. The plan permits the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other stock-based and cash-based awards. Since the adoption of the 2011 Omnibus Incentive Plan, the Company’s Board of Directors has periodically granted stock options and restricted stock to directors and employees, but no other types of awards have been granted under the plan. Options and stock appreciation rights may not be granted at prices less than their fair market value on the date of the grant, nor for a term exceeding ten years. For employees, vesting generally occurs over a four or five year period on the anniversaries of the date specified in the employees’ respective agreements, subject to accelerated vesting under certain circumstances set forth in the option agreements. Vesting for directors generally occurs in one year. In 2013, 726,746 stock options and 99,163 shares of restricted stock were granted to executive management, members of our Board of Directors and employees under this plan. To date, 1,890,670 shares have been granted under this plan. We expense the fair value of the stock option grants on a straight-line basis over the vesting period. A Black-Scholes option-pricing model is used to estimate the fair value of the stock options.
The following table summarizes award activity under our stock option and restricted stock plans:
Stock Options Following are the weighted-average assumptions used to estimate the fair values of our stock options:
Recognized compensation expense and related income tax benefits under our equity-based compensation plans are set forth in the table below (in thousands):
Unrecognized compensation expense under our equity-based compensation plans is set forth in the table below (in thousands):
Defined Contribution Employee Benefit Plans: We maintain defined contribution employee benefit plans in a number of countries in which we operate including the U.S., Canada, the United Kingdom, Australia, France, Belgium, the Netherlands, and New Zealand. These plans generally allow employees the option to defer a percentage of their compensation in accordance with local tax laws. In addition, we make contributions under these plans ranging from 1% to 10% of eligible compensation. Our provisions for the expense under defined contribution plans were $10.5 million, $9.0 million and $6.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. Defined Benefit Employee Benefit Plan: We maintain a defined benefit pension plan for 13 current and former employees of our Belgian subsidiary. The unfunded liability associated with this plan was $0.5 million and $0.7 million as of December 31, 2013 and 2012, respectively.
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The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. No definition available.
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| Related Party Transactions [Abstract] | |
| Related Party Transactions | NOTE 12—RELATED PARTY TRANSACTIONS Europump Systems Inc. Certain MRC Canada ULC employees, who are shareholders of the Company, served as executive officers of Europump Systems Inc. (“Europump”). Europump is engaged in the business of selling, servicing and renting industrial pumps. During the years ended December 31, 2013, 2012 and 2011, our purchases from Europump approximated $42.3 million, $39.3 million and $42.0 million, respectively. At December 31, 2013 and 2012, we had payables to Europump of approximately $0 and $4.9 million, respectively. During the years ended December 31, 2013, 2012 and 2011, our sales to Europump approximated $2.1 million, $1.2 million and $2.5 million, respectively. At December 31, 2013 and 2012, we had receivables of approximately $0.8 million and $0.2 million from Europump, respectively. We also agreed to make certain profit sharing payments to the Europump shareholders in respect of certain oilfield supply and service stores located in Western Canada. For the years ended December 31, 2013, 2012 and 2011, the expense we recognized for the aggregate profit participation for Europump was approximately $6.2 million, $7.9 million and $5.8 million, respectively. Leases We lease land and buildings at various locations from Hansford Associates Limited Partnership (“Hansford Associates”), and Prideco LLC (“Prideco”), as well as certain employees. We lease equipment and vehicles from Prideco. Certain of our directors participate in ownership of Hansford Associates and Prideco. Most of these leases are renewable for various periods through 2019 and are renewable at our option. The renewal options are subject to escalation clauses. These leases contain clauses for payment of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Rent expense attributable to related parties was $2.0 million, $4.3 million and $5.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. Future minimum rental payments required under operating leases with related parties that have initial or remaining non-cancelable lease terms in excess of one year are $2.0 million, $1.4 million, $1.5 million, $1.4 million and $1.4 million for the years 2014, 2015, 2016, 2017 and 2018 and thereafter, respectively. Cypress Energy Partners One of our directors is the chairman, chief executive officer and president of one of our customers, Cypress Energy Partners, LP. During 2013, we received revenue of $0.4 million from Cypress Energy Partners, LP. Each sale was made on an arm’s-length basis at market pricing. The Goldman Sachs Funds Up to and until November 13, 2013, certain affiliates of The Goldman Sachs Group, Inc., including GS Capital Partners V Fund, L.P., GS Capital Partners VI Fund, L.P. and related entities, or the Goldman Sachs Funds, were the majority owners of PVF Holdings, our largest stockholder. In March 2013, Goldman Sachs & Co. was the co-lead bookrunner on our secondary offering. In 2012, Goldman Sachs Credit Partners L.P. (“GSCP”), an affiliate of the Goldman Sachs Funds, was a co-lead arranger and joint bookrunner under our Global ABL Facility and our Term Loan as well as the syndication agent under those facilities. In addition, Goldman Sachs Lending Partners L.L.C. is a participant in our Global ABL Credit Facility. Goldman, Sachs & Co. was the co-lead bookrunner on our initial public offering and our November 2012 secondary offering. Payments made to affiliates of the Goldman Sachs Funds in connection with these transactions were $10.9 million, $13.2 million and $0.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Affiliates of the Goldman Sachs Funds From time to time, we sell products to affiliates of the Goldman Sachs Funds. The total revenues from these affiliates were $33.7 million, $23.1 million, and $12.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. The total receivables due from these affiliates were $7.0 million and $5.0 million as of December 31, 2013 and 2012, respectively. In 2012, we engaged an affiliate of the Goldman Sachs Funds to provide services for treasury, accounts receivables collection software and disaster recovery systems and paid them approximately $0.6 million and $0.9 million for the years ended December 31, 2013 and 2012, respectively.
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The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment, Geographic and Product Line Information
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| Segment, Geographic and Product Line Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment , Geographic and Product Line Information | NOTE 13—SEGMENT, GEOGRAPHIC AND PRODUCT LINE INFORMATION We operate as three business segments, U.S., Canada and International. Our International segment consists of our operations outside of the U.S. and Canada, principally Europe, Asia and Australasia. These segments represent our business of selling pipe, valves and fittings to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) markets. The following table presents financial information for each segment (in millions):
The percentages of our fixed assets relating to the following geographic areas are as follows:
Our net sales by product line are as follows (in thousands):
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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| Fair Value Measurements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | NOTE 14—FAIR VALUE MEASUREMENTS We used the following methods and significant assumptions to estimate fair value for assets and liabilities recorded at fair value. Interest Rate Contracts: Interest rate contracts are reported at fair value utilizing Level 2 inputs. We obtain dealer quotations to value our interest rate swap agreements. These quotations rely on observable market inputs such as yield curves and other market-based factors. Foreign Exchange Forward and Option Contracts: Foreign exchange forward contracts are reported at fair value utilizing Level 2 inputs, as the fair value is based on broker quotes for the same or similar derivative instruments. The following table presents assets and liabilities measured at fair value on a recurring basis, and the basis for that measurement (in thousands):
With the exception of long-term debt, the fair values of our financial instruments, including cash and cash equivalents, accounts receivable, trade accounts payable and accrued liabilities approximate carrying value. The carrying value of our debt was $0.987 billion and $1.257 billion at December 31, 2013 and 2012, respectively. We estimate the fair value of the Term Loan using Level 2 inputs, or quoted market prices as of December 31, 2013 and 2012, respectively. The fair value of our debt was $0.997 billion and $1.261 billion at December 31, 2013 and 2012, respectively. The carrying values of our Global ABL Facility and remaining portions of our long-term debt approximate their fair values.
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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| Commitments and Contingencies | NOTE 15—COMMITMENTS AND CONTINGENCIES Leases We regularly enter into operating and capital lease arrangements for certain of our facilities and equipment. Our leases are renewable at our option for various periods through 2021. Certain renewal options are subject to escalation clauses and contain clauses for payment of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Leases with escalation clauses based on an index, such as the consumer price index, are expensed and projected based on current rates. Leases with specified escalation steps are expensed and projected based on the rate in effect in the respective period which is not materially different than the straight-line method. We amortize leasehold improvements over the remaining life of the lease. Rental expense under our operating lease arrangements was $53.3 million, $48.3 million and $40.3 million for the years ended December 31, 2013, 2012, and 2011, respectively.
Future minimum lease payments under noncancelable operating and capital lease arrangements having initial terms of one year or more are as follows (in thousands):
Legal Proceedings Asbestos Claims. We are one of many defendants in lawsuits that plaintiffs have brought seeking damages for personal injuries that exposure to asbestos allegedly caused. Plaintiffs and their family members have brought these lawsuits against a large volume of defendant entities as a result of the various defendants’ manufacture, distribution, supply or other involvement with asbestos, asbestos-containing products or equipment or activities that allegedly caused plaintiffs to be exposed to asbestos. These plaintiffs typically assert exposure to asbestos as a consequence of third-party manufactured products that the Company’s subsidiary, McJunkin Red Man Corporation, purportedly distributed. As of December 31, 2013, we are a named defendant in approximately 279 lawsuits involving approximately 930 claims. No asbestos lawsuit has resulted in a judgment against us to date, with the majority being settled, dismissed or otherwise resolved. Applicable third-party insurance has substantially covered these claims, and insurance should continue to cover a substantial majority of existing and anticipated future claims. Accordingly, we have recorded a liability for our estimate of the most likely settlement of asserted claims and a related receivable from insurers for our estimated recovery, to the extent we believe that the amounts of recovery are probable. We annually conduct analyses of our asbestos-related litigation to estimate the adequacy of the reserve for pending and probable asbestos-related claims. Given these estimated reserves and existing insurance coverage that has been available to cover substantial portions of these claims, we believe that our current accruals and associated estimates relating to pending and probable asbestos-related litigation likely to be asserted over the next 15 years are currently adequate. This belief, however, relies on a number of assumptions, including:
If any of these assumptions prove to be materially different in light of future developments, liabilities related to asbestos-related litigation may be materially different than amounts accrued or estimated. Further, while we anticipate that additional claims will be filed in the future, we are unable to predict with any certainty the number, timing and magnitude of such future claims. In our opinion, there are no pending legal proceedings that are likely to have a material adverse effect on our consolidated financial statements. Other Legal Claims and Proceedings. From time to time, we have been subject to various claims and involved in legal proceedings incidental to the nature of our businesses. We maintain insurance coverage to reduce financial risk associated with certain of these claims and proceedings. It is not possible to predict the outcome of these claims and proceedings. However, in our opinion, there are no material pending legal proceedings that are likely to have a material effect on our business, financial condition, results of operations or cash flows. Product Claims. From time to time, in the ordinary course of our business, our customers may claim that the products we distribute are either defective or require repair or replacement under warranties that either we or the manufacturer may provide to the customer. These proceedings are, in the opinion of management, ordinary and routine matters incidental to our normal business. Our purchase orders with our suppliers generally require the manufacturer to indemnify us against any product liability claims, leaving the manufacturer ultimately responsible for these claims. In many cases, state, provincial or foreign law provides protection to distributors for these sorts of claims, shifting the responsibility to the manufacturer. In some cases, we could be required to repair or replace the products for the benefit of our customer and seek our recovery from the manufacturer for our expense. In our opinion, the ultimate disposition of these claims and proceedings is not expected to have a material adverse effect on our financial position, results of operations or cash flows. Weatherford Claim. In addition to PVF, our Canadian subsidiary, Midfield Supply (“Midfield”), now known as MRC Canada, also distributed progressive cavity pumps and related equipment (“PCPs”) under a distribution agreement with Weatherford Canada Partnership (“Weatherford”) within a certain geographical area located in southern Alberta, Canada. Commencing in late 2005 and into early 2006, Midfield hired new employees, including individuals who left Weatherford, as part of Midfield’s desire to expand its PVF business into northern Alberta. Shortly thereafter, many of these employees left Midfield and formed a PCP manufacturing, distribution and service company named Europump Systems Inc. (“Europump”) in 2006. The distribution agreement with Weatherford expired in 2006. Midfield supplied Europump with PVF products that Europump distributed along with sales of PCP pumps. In April 2007, Midfield purchased Europump’s distribution branches and began distributing and servicing Europump PCPs. Pursuant to a complaint that Weatherford filed on April 11, 2006 in the Court of Queen’s Bench of Alberta, Judicial Bench of Edmonton (Action No. 060304628), Weatherford sued Europump, three of Europump’s part suppliers, Midfield, certain current and former employees of Midfield, as well as other entities related to these parties, asserting a host of claims including breach of contract, breach of fiduciary duty, misappropriation of confidential information related to the PCPs, unlawful interference with economic relations and conspiracy. The Company denies these allegations and contends that Midfield’s expansion and subsequent growth was the result of fair competition. From 2006 through 2012, the case focused largely on Weatherford’s questioning of defense witnesses. In 2013, the defendants began substantive questioning of Weatherford and its witnesses. Discovery is ongoing and expected to last through 2014. Due to ongoing discovery, and the limited information available related to any claimed damages, we cannot reasonably estimate potential loss at this time. The Company believes Weatherford’s claims are without merit and intends to defend against them vigorously. Customer Contracts We have contracts and agreements with many of our customers that dictate certain terms of our sales arrangements (pricing, deliverables, etc.). While we make every effort to abide by the terms of these contracts, certain provisions are complex and often subject to varying interpretations. Under the terms of these contracts, our customers have the right to audit our adherence to the contract terms. Historically, any settlements that have resulted from these customer audits have been immaterial to our consolidated financial statements. Letters of Credit Our letters of credit outstanding at December 31, 2013 approximated $33.2 million. Bank Guarantees Certain of our international subsidiaries have trade guarantees that banks have issued on their behalf. The amount of these guarantees at December 31, 2013 was approximately $6.7 million. Purchase Commitments We have purchase obligations consisting primarily of inventory purchases made in the normal course of business to meet operating needs. While our vendors often allow us to cancel these purchase orders without penalty, in certain cases, cancellations may subject us to cancellation fees or penalties depending on the terms of the contract. Warranty Claims We are involved from time to time in various warranty claims, which arise in the ordinary course of business. Historically, any settlements that have resulted from these warranty claims have been immaterial to our consolidated financial statements.
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Information (Unaudited)
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| Quarterly Information (Unaudited) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Information (Unaudited) | NOTE 16—QUARTERLY INFORMATION (UNAUDITED) Our quarterly financial information is presented in the table below (in millions, except per share amounts):
_______________ (1)Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.
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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Dec. 31, 2013
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| Subsequent Events |
NOTE 17—SUBSEQUENT EVENTS
In January 2014, we terminated a profit sharing agreement with respect to certain oilfield supply and service stores in western Canada. This profit sharing agreement required us to make annual profit sharing payments to Europump related to PVF sales in the heavy oil region of Canada. In conjunction with the termination of this agreement, we sold our progressive cavity pump (“PCP”) distribution and servicing business to Europump, our primary supplier of PCP pumps. We believe this divestiture will allow us to focus on our core business of supplying PVF products and services to the energy and industrial markets. We expect the impact of this divestiture to be a reduction in sales of approximately $82 million in 2014; however, through the elimination of costs associated with the business, including the profit sharing payments to Europump, we expect the impact of the sale will have a modestly accretive impact on profitability going forward. However, we do anticipate a first quarter 2014 pre-tax charge of approximately $7 million ($4.6 million after-tax) associated with the termination of the profit sharing agreement.
In January 2014, we completed the $260 million acquisition of Stream AS. Headquartered in Norway, Stream is the leading pipe, valve and fittings distributor and provider of flow control products, solutions and services to the offshore oil and gas industry on the Norwegian Continental Shelf. The purchase price was funded with existing availability under our Global ABL Facility as well as cash on hand.
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy)
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Dec. 31, 2013
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| Significant Accounting Policies [Abstract] | |
| Business Operations | Business Operations: MRC Global Inc. is a holding company headquartered in Houston, Texas. Our wholly owned subsidiaries are global distributors of pipe, valves, fittings and related products and services across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) sectors. We have branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia and Australasia. Our products are obtained from a broad range of suppliers.
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| Basis of Presentation | Basis of Presentation: The consolidated financial statements include the accounts of MRC Global Inc. and its wholly owned and majority owned subsidiaries (collectively referred to as the “Company” or by such terms as “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation.
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| Use of Estimates | Use of Estimates: The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. We believe that our most significant estimates and assumptions are related to estimated losses on accounts receivable, the last-in, first-out (“LIFO”) inventory costing methodology, estimated realizable value on excess and obsolete inventories, goodwill, intangible assets, deferred taxes and self-insurance programs. Actual results could differ materially from those estimates.
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| Cash Equivalents | Cash Equivalents: We consider all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.
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| Allowance for Doubtful Accounts | Allowance for Doubtful Accounts: We evaluate the adequacy of the allowance for losses on receivables based upon periodic evaluation of accounts that may have a higher credit risk using information available about the customer and other relevant data. This formal analysis is inherently subjective and requires us to make significant estimates of factors affecting doubtful accounts, including customer specific information, current economic conditions, volume, growth and composition of the account, and other factors such as financial statements, news reports and published credit ratings. The amount of the allowance for the remainder of the trade balance is not evaluated individually but is based upon historical loss experience. Because this process is subjective and based on estimates, ultimate losses may differ from those estimates. Receivable balances are written off when we determine that the balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance when received. The provision for losses on receivables is included in selling, general and administrative expenses in the accompanying consolidated statements of income.
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| Inventories | Inventories: Our inventories are valued at the lower of cost, principally LIFO, or market. We believe that the use of LIFO results in a better matching of costs and revenues. This practice excludes certain inventories, which are held outside of the United States, approximating $264.0 million and $318.9 million at December 31, 2013 and 2012, respectively, which are valued at the lower of weighted-average cost or market. Our inventory is substantially comprised of finished goods. Allowances for excess and obsolete inventories are determined based on analyses comparing inventories on hand to sales trends. The allowance, which totaled $23.2 million and $19.0 million at December 31, 2013 and 2012, respectively, is the amount deemed necessary to reduce the cost of the inventory to its estimated realizable value.
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| Debt Issuance Costs | Debt Issuance Costs: We defer costs directly related to obtaining financing and amortize them over the term of the indebtedness on a straight-line basis. The use of the straight-line method does not produce results that are materially different from those which would result from the use of the effective interest method. These amounts are reflected in the consolidated statement of operations as a component of interest expense. Debt issuance costs are reflected in other assets and totaled $19.1 million and $25.2 million, net of accumulated amortization of $5.7 million and $4.8 million, at December 31, 2013 and 2012, respectively.
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| Fixed Assets | Fixed Assets: Land, buildings and equipment are stated on the basis of cost. For financial statement purposes, depreciation is computed over the estimated useful lives of such assets principally by the straight-line method; accelerated depreciation and cost recovery methods are used for income tax purposes. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvements. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred.
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| Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may exist. We evaluate goodwill for impairment at three reporting units that mirror our three segments (U.S., Canada and International). The goodwill impairment test compares the carrying value of the reporting unit that has the goodwill with the estimated fair value of that reporting unit. If the carrying value is more than the estimated fair value, we then calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the estimated fair value of the reporting unit. Impairment losses are recognized to the extent that recorded goodwill exceeds implied goodwill. Our impairment methodology uses discounted cash flow and multiples of cash earnings valuation techniques, as well as valuation comparisons to similar businesses. These valuation methods require us to make certain assumptions and estimates regarding future operating results, the extent and timing of future cash flows, working capital, sales prices, profitability, discount rates and growth trends. While we believe that these assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Intangible assets with indefinite useful lives are tested for impairment annually or more frequently if circumstances indicate that impairment may exist. This test compares the carrying value of the indefinite lived intangible assets with their estimated fair value. If the carrying value is more than the estimated fair value, impairment losses are recognized in an amount equal to the excess of the carrying value over the estimated fair value. Our impairment methodology uses discounted cash flow and estimated royalty rate valuation techniques. These valuation methods require us to make certain assumptions and estimates regarding future operating results, sales prices, discount rates and growth trends. While we believe that such assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Other intangible assets primarily include trade names, customer bases and noncompetition agreements resulting from business acquisitions. Other intangible assets are recorded at fair value at the date of acquisition. Amortization is provided using the straight-line method over their estimated useful lives, ranging from two to twenty years. The carrying value of amortizable intangible assets is subject to an impairment test when events or circumstances indicate a possible impairment. When events or circumstances indicate a possible impairment, we assess recoverability from future operations using undiscounted cash flows derived from the lowest appropriate asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge would be recognized to the extent that the carrying value exceeds the fair value, which is determined based on a discounted cash flow analysis. While we believe that assumptions and estimates utilized in the impairment analysis are reasonable, the actual results may differ materially from the projected results. These impairments are determined prior to performing our goodwill impairment test.
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| Derivatives and Hedging | Derivatives and Hedging: From time to time, we utilize interest rate swaps to reduce our exposure to potential interest rate increases. Changes in the fair values of our derivative instruments are based upon independent market quotes. We do not designate our interest rate swaps as hedging instruments; therefore, we record our interest rate swaps on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. We utilize foreign exchange forward contracts (exchange contracts) and options to manage our foreign exchange rate risks resulting from purchase commitments and sales orders. Changes in the fair values of our exchange contracts are based upon independent market quotes. We do not designate our exchange contracts as hedging instruments; therefore, we record our exchange contracts on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change.
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| Fair Value | Fair Value: We measure certain of our assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions for inputs used in the valuation methodologies to measuring fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs for the asset or liability. Unobservable inputs reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability (including all assumptions about risk). Certain assets and liabilities are measured at fair value on a nonrecurring basis. Our assets and liabilities measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill and other intangible assets. We do not measure these assets at fair value on an ongoing basis; however, these assets are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Our impairment methodology for goodwill and other intangible assets uses both (i) a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding the extent and timing of future cash flows, discount rates and growth trends and (ii) valuation based on our publicly traded common stock. As all of the assumptions employed to measure these assets and liabilities on a nonrecurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3. We have not elected to apply the fair value option to any of our eligible financial assets and liabilities.
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| Insurance | Insurance: We are self-insured for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. In addition, we maintain a nonmaterial deductible program as they relate to insurance for property, stock throughput, inventory, workers’ compensation, automobile liability, asbestos claims, general liability claims (including, among others, certain product liability claims for property damage, death or injury) and employee healthcare. These programs have deductibles ranging from $25,000 to $1.0 million and are secured by various letters of credit totaling $6.5 million. Our estimated liability and related expenses for claims are based in part upon estimates that insurance carriers, third-party administrators and actuaries provide. We believe that insurance reserves are sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary limits. We do not have excess coverage for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. Our accrued liabilities related to all deductibles/retentions under insurance programs (other than employee healthcare) were $7.8 million and $5.9 million as of December 31, 2013 and 2012, respectively. In the area of employee healthcare, we have a commercially reasonable excess stop loss protection on a per person per year basis. Reserves for self-insurance accrued liabilities for employee healthcare were $3.3 million and $4.0 million as of December 31, 2013 and 2012, respectively.
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| Income Taxes | Income Taxes: We use the liability method for determining our income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Under this method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Deferred tax assets and liabilities are recorded for differences between the financial reporting and tax bases of assets and liabilities using the tax rate expected to be in effect when the taxes will actually be paid or refunds received. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance to reduce deferred tax assets is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining the need for valuation allowances and our ability to utilize our deferred tax assets, we consider and make judgments regarding all the available positive and negative evidence, including the timing of the reversal of deferred tax liabilities, estimated future taxable income, ongoing, prudent and feasible tax planning strategies and recent financial results of operations. The amount of the deferred tax assets considered realizable however could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present in certain jurisdictions and additional weight may be given to subjective evidence such as our projections for growth. Our tax provision is based upon our expected taxable income and statutory rates in effect in each country in which we operate. We are subject to the jurisdiction of numerous domestic and foreign tax authorities, as well as to tax agreements and treaties among these governments. Determination of taxable income in any jurisdiction requires the interpretation of the related tax laws and regulations and the use of estimates and assumptions regarding significant future events such as the amount, timing and character of deductions, permissible revenue recognition methods under the tax law and the sources and character of income and tax credits. Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact on the amount of income taxes we provide during any given year. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including any related appeals or litigation processes, on the basis of the technical merits. We adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information is available. We classify interest and penalties related to unrecognized tax positions as income taxes in our financial statements. We intend to permanently reinvest certain earnings of our foreign subsidiaries in operations outside the U.S., and accordingly, we have not provided for U.S. income taxes on such earnings.
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| Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions: The functional currency of our foreign operations is the applicable local currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income. The balance sheet accounts (with the exception of stockholders’ equity) are translated using current exchange rates as of the balance sheet date. Stockholders’ equity is translated at historical exchange rates and revenue and expense accounts are translated using a weighted-average exchange rate during the year. Gains or losses resulting from foreign currency transactions are recognized in the consolidated statements of income.
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| Equity-Based Compensation | Equity-Based Compensation: Our equity-based compensation consisted and consists of (i) restricted common units and profit units of PVF Holdings LLC, our former parent, and (ii) restricted stock and nonqualified stock options of our Company. The cost of employee services received in exchange for an award of an equity instrument is measured based on the grant-date fair value of the award. Our policy is to expense equity-based compensation using the fair-value of awards granted, modified or settled. Restricted common units, profit units and restricted stock are credited to equity as they are expensed over their vesting periods based on the grant date value of the shares vested. The fair value of nonqualified stock options is measured on the grant date of the related equity instrument using the Black-Scholes option-pricing model and is recognized as compensation expense over the applicable vesting period.
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| Revenue Recognition | Revenue Recognition: Sales to our principal customers are made pursuant to agreements that normally provide for transfer of legal title and risk upon shipment. We recognize revenue as products are shipped, title has transferred to the customer and the customer assumes the risks and rewards of ownership, and collectability is reasonably assured. Freight charges billed to customers are reflected in revenues. Return allowances are estimated using historical experience. Amounts received in advance of shipment are deferred and recognized as revenue when the products are shipped and title transfers. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales in the accompanying consolidated statements of income.
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| Cost of Sales | Cost of Sales: Cost of sales includes the cost of inventory sold and related items, such as vendor rebates, inventory allowances, and shipping and handling costs associated with inbound and outbound freight, as well as depreciation and amortization and amortization of intangible assets. Certain purchasing costs and warehousing activities (including receiving, inspection and stocking costs), as well as general warehousing expenses, are included in selling, general and administrative expenses and not in cost of sales. As such, our gross profit may not be comparable to others that may include these expenses as a component of cost of sales. Purchasing and warehousing costs approximated $37.2 million, $34.8 million, and $27.3 million for the years ended December 31, 2013, 2012 and 2011, respectively.
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| Earnings Per Share | Earnings per Share: Basic earnings per share are computed based on the weighted-average number of common shares outstanding, excluding any dilutive effects of unexercised stock options and unvested restricted stock. Diluted earnings per share are computed based on the weighted-average number of common shares outstanding including any dilutive effect of unexercised stock options and unvested restricted stock. The dilutive effect of unexercised stock options and unvested restricted stock is calculated under the treasury stock method.
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| Concentration of Credit Risk | Concentration of Credit Risk: Most of our business activity is with customers in the energy and industrial sectors. In the normal course of business, we grant credit to these customers in the form of trade accounts receivable. These receivables could potentially subject us to concentrations of credit risk; however, we minimize this risk by closely monitoring extensions of trade credit. We generally do not require collateral on trade receivables. We have a broad customer base doing business in many regions of the world. During 2013, 2012 and 2011, we did not have sales to any one customer in excess of 10% of gross sales. At those respective year-ends, no individual customer balances exceeded 10% of gross accounts receivable. We have a broad supplier base, sourcing our products in most regions of the world. During 2013, 2012 and 2011, we did not have purchases from any one vendor in excess of 10% of our gross purchases. At those respective year-ends no individual vendor balance exceeded 10% of gross accounts payable. We maintain the majority of our cash and cash equivalents with several financial institutions. These financial institutions are located in many different geographical regions with varying economic characteristics and risks. Deposits held with banks may exceed insurance limits. We believe the risk of loss associated with our cash equivalents to be remote.
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| Segment Reporting | Segment Reporting: We have three operating and reportable segments, the United States of America, Canada, and International, which includes Europe, Asia, and Australasia. These segments represent our global business of providing pipe, valves, fittings and related products and services to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining and petrochemical processing) markets, through our distribution operations located throughout the world.
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| Reclassifications | Reclassifications: Certain immaterial amounts in the prior years’ balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation.
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| Recently Issued Accounting Standards | Recently Issued Accounting Standards: In February 2013, the Financial Accounting Standards Board (“FASB”) issued Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which specifies that a cumulative translation adjustment (“CTA”) should be released into earnings when an entity ceases to have a controlling financial interest in a subsidiary or group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of CTA attributable to the investment would be recognized in earnings upon sale of the investment. When an entity sells either a part or all of its investment in a consolidated foreign entity, CTA would be recognized in earnings only if the sale results in the parent no longer having a controlling financial interest in the foreign entity. CTA would be recognized in earnings in a business combination achieved in stages. ASU 2013-05 will be effective for us prospectively in 2014. We do not expect this update to have a material impact on our financial statements.
In July 2013, the FASB issued Standards Update No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The objective of this update is to eliminate the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under this guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except in certain circumstances. This update does not require any new disclosures and is effective for annual and interim periods beginning after December 31, 2013. The amendments in this update will be applied prospectively to all unrecognized tax benefits that exist at the effective date. We do not expect this update to have a material impact on our financial statements.
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. The accounting policy may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This disclosure also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for costs incurred to obtain or issue debt, the effects of refinancings, method of amortizing deferred financing costs and original issue discount, and classifications of debt on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for fair value measurements, which may include, but is not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. No definition available.
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Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property, Plant and Equipment |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Goodwill and Other Intangible Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Carrying Amount of Goodwill by Segment |
(1)Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.
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| Schedule of Other Intangible Assets by Major Classification |
(1)Net of accumulated impairment losses of $76.2 million.
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| Schedule of Amortization of Intangible Assets |
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| X | ||||||||||
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- Definition
Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance, with either finite lives or existing in perpetuity, by either major class or business segment. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. No definition available.
|
| X | ||||||||||
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- Definition
Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Long-Term Debt (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Long-Term Debt [Abstract] | |||||||||||||||||||||||||||||||||||||
| Components of Long-Term Debt |
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| Interest on Borrowings |
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| Schedule of Maturities of Long-Term Debt |
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| X | ||||||||||
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- Definition
Schedule of interests on borrowings. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Financial Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Fair Value of Derivative Instruments Recorded in Consolidated Balance Sheets |
Included in “Accrued expenses and other current liabilities” or “other current assets” in our consolidated balance sheets. The total notional amount of our forward foreign exchange contracts was approximately $331 million and $69 million at December 31, 2013 and 2012, respectively.
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| Amount of Gains and (Losses) Recognized in Consolidated Statements of Operations Related to Derivative Instruments |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Income Before Income Taxes |
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| Summary of Income Taxes Included in Consolidated Statements of Income |
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| Reconcilation of Statutory Federal Income Tax Rate |
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| Components of Current Deferred Tax Assets and Liabilities |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of income before income tax between domestic and foreign jurisdictions. No definition available.
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Stockholders' Equity (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Stockholders' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss in Accompanying Consolidated Balance Sheets |
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| Earnings Per Share |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
|
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Employee Benefit Plans (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
|
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| Employee Benefit Plans [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Stock Options Activity |
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| Schedule of Restricted Stock Option Activity |
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| Summarized Award Activity Under Stock Option and Restricted Stock Plans |
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| Weighted-Average Assumptions Used to Estimate Fair Values of Stock Options |
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| Recognized Compensation Expense and Related Income Tax Benefits Under Equity-Based Compensation Plans |
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| Unrecognized Compensation Expense Under Equity-Based Compensation Plans |
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| X | ||||||||||
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- Definition
Schedule Of Equity Based Award Including Stock Options And Restricted Stock Units Table [Text Block] No definition available.
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| X | ||||||||||
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- Details
|
| X | ||||||||||
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- Definition
Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the changes in outstanding nonvested restricted stock units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Segment, Geographic and Product Line Information (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2013
|
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| Segment, Geographic and Product Line Information [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Financial Information for Each Segment |
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| Schedule of Percentages of Fixed Assets by Geographical Areas |
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| Schedule of Net Sales by Product Line |
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| X | ||||||||||
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- Definition
Schedule of net sales by product line. No definition available.
|
| X | ||||||||||
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- Definition
Schedule Of Segment Reporting Assets Table [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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|
Fair Value Measurements (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Fair Value Measurements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Commitments and Contingencies (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
|
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| Commitments and Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||
| Future Minimum Lease Payment under Noncancelable Operating and Capital Lease Arrangements |
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| X | ||||||||||
|
- Definition
Schedule Of Future Minimum Lease Payments For Non Cancelable Operating And Capital Leases Table [Text Block] No definition available.
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| X | ||||||||||
|
- Details
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Quarterly Information (Unaudited) (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Quarterly Information (Unaudited) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Quarterly Financial Information |
_______________ (1)Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
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- Definition
Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Significant Accounting Policies (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
segment
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Significant Accounting Policies [Line Items] | |||
| Inventory not valued at LIFO | $ 264,000,000 | $ 318,900,000 | |
| Allowances for excess and obsolete inventories | 23,199,000 | 19,029,000 | |
| Debt issuance costs | 19,100,000 | 25,200,000 | |
| Accumulated amortization of debt issuance costs | 5,700,000 | 4,800,000 | |
| Letters of credit securing non-material deductible program | 6,500,000 | ||
| Accrued liabilities related to deductibles/retentions under insurance programs | 7,800,000 | 5,900,000 | |
| Self-insurance reserves | 3,300,000 | 4,000,000 | |
| Purchasing and warehousing costs not included in cost of sales | 37,200,000 | 34,800,000 | 27,300,000 |
| Number of operating and reportable segments | 3 | ||
|
Vendor Concentration Risk [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Balance in excess of 10% of gross total | 0.00% | 0.00% | 0.00% |
| Concentration risk benchmark percentage | 10.00% | 10.00% | 10.00% |
|
Sales [Member] | Customer Concentration Risk [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Balance in excess of 10% of gross total | 0.00% | 0.00% | 0.00% |
| Concentration risk benchmark percentage | 10.00% | 10.00% | 10.00% |
|
Trade Accounts Receivable [Member] | Customer Concentration Risk [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Balance in excess of 10% of gross total | 0.00% | 0.00% | 0.00% |
| Concentration risk benchmark percentage | 10.00% | 10.00% | 10.00% |
|
Accounts Payable [Member] | Vendor Concentration Risk [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Balance in excess of 10% of gross total | 0.00% | 0.00% | 0.00% |
| Concentration risk benchmark percentage | 10.00% | 10.00% | 10.00% |
|
Minimum [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Amortization based on straight-line method, years | 2 years | ||
| Deductible | 25,000 | ||
|
Maximum [Member]
|
|||
| Significant Accounting Policies [Line Items] | |||
| Amortization based on straight-line method, years | 20 years | ||
| Deductible | $ 1,000,000 | ||
| X | ||||||||||
|
- Definition
Amortization Basis Straight Line In Years No definition available.
|
| X | ||||||||||
|
- Definition
Identifies or describes the benchmark percentage of concentration risk. No definition available.
|
| X | ||||||||||
|
- Definition
Debt issuance costs reflected in other assets. No definition available.
|
| X | ||||||||||
|
- Definition
Insurance nonmaterial deductible. No definition available.
|
| X | ||||||||||
|
- Definition
Inventory not valued at LIFO No definition available.
|
| X | ||||||||||
|
- Definition
Letters of credit securing non-material deductible program. No definition available.
|
| X | ||||||||||
|
- Definition
Purchasing And Warehousing Costs Not Included In Cost of Sales No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable to insurance entities to mitigate potential loss from various risks or to satisfy a promise to provide certain coverage's to employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the accumulated amortization, as of the reporting date, representing the periodic charge to earnings of deferred costs which are associated with debt obligations existing as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions) of accrued known and estimated losses incurred as of the balance sheet date for which no insurance coverage exists, and for which a claim has been made or is probable of being asserted, typically arising from workmen's compensation-type of incidents and personal injury to nonemployees from accidents on the entity's property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
item
|
Dec. 31, 2012
item
|
Dec. 31, 2011
item
|
|
| Acquisitions [Abstract] | |||
| Number of acquisitions during the period | 2 | 3 | 2 |
| Purchase price | $ 46.8 | $ 152.4 | $ 41.9 |
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of businesses acquired by the entity during the period. No definition available.
|
|
Acquisitions (Schedule of Purchase Price Allocation) (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
| Net assets acquired: | |
| Current assets, net of cash acquired | $ 18.6 |
| Other long-term assets | 1.8 |
| Customer base intangibles | 9.7 |
| Other intangible assets | 2.3 |
| Goodwill | 24.7 |
| Current liabilities | (9.8) |
| Other long-term liabilities | (0.5) |
| Cash consideration paid | $ 46.8 |
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Customer Base Intangibles No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Other Intangible Assets No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Other Long Term Assets No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Other Long Term Liabilities No definition available.
|
| X | ||||||||||
|
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to current assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to current liabilities of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accounts Receivable (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Accounts Receivable [Abstract] | ||
| Other allowances for accounts receivable | $ 3.1 | $ 3.3 |
| X | ||||||||||
|
- Definition
The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Accounts Receivable (Summary of Allowance for Doubtful Accounts) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Allowance for doubtful accounts | |||
| Beginning balance | $ 5,270 | $ 4,815 | $ 4,451 |
| Net charge-offs | (2,435) | (1,973) | (69) |
| Provision | (298) | 2,428 | 433 |
| Ending balance | $ 2,537 | $ 5,270 | $ 4,815 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of direct write-downs of receivables charged against the allowance for doubtful accounts. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventories (Details) (USD $)
|
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Finished goods inventory at average cost: | ||
| Finished goods inventory at average cost | $ 1,125,568,000 | $ 1,140,239,000 |
| Less: Excess of average cost over LIFO cost (LIFO reserve) | (130,802,000) | (150,982,000) |
| Less: Other inventory reserves | (23,199,000) | (19,029,000) |
| Inventories, net | 971,567,000 | 970,228,000 |
| Effect of LIFO decrement on cost of sales | 0 | 1,300,000 |
|
Energy Carbon Steel Tubular Products [Member]
|
||
| Finished goods inventory at average cost: | ||
| Finished goods inventory at average cost | 362,449,000 | 387,609,000 |
|
Valves, Fittings, Flanges and all Other Products [Member]
|
||
| Finished goods inventory at average cost: | ||
| Finished goods inventory at average cost | $ 763,119,000 | $ 752,630,000 |
| X | ||||||||||
|
- Definition
The effect of liquidating LIFO (last in first out) inventory layers on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before last-in first-out (LIFO) and valuation reserves of merchandise or goods held by the entity that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the difference between (a) inventory at the lower of LIFO cost or market and (b) inventory at replacement cost or at the lower of some acceptable inventory accounting method (such as FIFO or average cost), or market. If material, reflects an excess of replacement or current cost over stated LIFO value parenthetically on the balance sheet or in a note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Property, Plant and Equipment (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 222,116 | $ 209,344 |
| Allowances for depreciation and amortization | (103,193) | (86,886) |
| Property, Plant and Equipment, Net, Total | 118,923 | 122,458 |
|
Land and Improvements [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, gross | 16,930 | 17,465 |
|
Building and Building Improvements [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, Depreciable Life | 40 years | |
| Property, plant and equipment, gross | 63,494 | 58,090 |
|
Machinery and Equipment [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, gross | 137,254 | 130,289 |
|
Machinery and Equipment [Member] | Minimum [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, Depreciable Life | 3 years | |
|
Machinery and Equipment [Member] | Maximum [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, Depreciable Life | 10 years | |
|
Property Held Under Capital Leases [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 4,438 | $ 3,500 |
|
Property Held Under Capital Leases [Member] | Minimum [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, Depreciable Life | 20 years | |
|
Property Held Under Capital Leases [Member] | Maximum [Member]
|
||
| Property, Plant and Equipment [Line Items] | ||
| Property, plant and equipment, Depreciable Life | 30 years |
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
|
Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill by Segment) (Details) (USD $)
|
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Goodwill, Beginning Balance | $ 610,392,000 | [1] | $ 561,270,000 | [1] | $ 549,384,000 | [1] | ||
| Other | (211,000) | |||||||
| Effect of foreign currency translation | (2,459,000) | 1,045,000 | (2,248,000) | |||||
| Goodwill, Ending Balance | 632,284,000 | 610,392,000 | [1] | 561,270,000 | [1] | |||
| Net of accumulated impairment losses | 76,200,000 | |||||||
|
Acquisition of VSC [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 2,780,000 | |||||||
|
Acquisition of MRC SPF [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 11,565,000 | |||||||
| Adjustment of purchase price | 1,197,000 | |||||||
|
Acquisition of MRC PSA [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 21,829,000 | |||||||
|
Flow Control Products [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 15,257,000 | |||||||
|
Flangefitt Stainless Ltd. [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 9,472,000 | |||||||
|
Acquisition of PSS [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 25,051,000 | |||||||
| Adjustment of purchase price | (378,000) | |||||||
|
U.S. [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Goodwill, Beginning Balance | 509,478,000 | [1] | ||||||
| Other | (211,000) | |||||||
| Goodwill, Ending Balance | 551,977,000 | 537,098,000 | [1] | 512,047,000 | [1] | |||
| Net of accumulated impairment losses | 240,900,000 | |||||||
|
U.S. [Member] | Acquisition of VSC [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 2,780,000 | |||||||
|
U.S. [Member] | Flow Control Products [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 15,257,000 | |||||||
|
U.S. [Member] | Acquisition of PSS [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 25,051,000 | |||||||
| Adjustment of purchase price | (378,000) | |||||||
|
Canada [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Goodwill, Beginning Balance | [1] | [1] | [1] | |||||
| Other | ||||||||
| Effect of foreign currency translation | ||||||||
| Goodwill, Ending Balance | [1] | [1] | ||||||
| Net of accumulated impairment losses | 69,000,000 | |||||||
|
Canada [Member] | Acquisition of VSC [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
|
Canada [Member] | Acquisition of MRC SPF [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
| Adjustment of purchase price | ||||||||
|
Canada [Member] | Acquisition of MRC PSA [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
|
Canada [Member] | Flow Control Products [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
|
Canada [Member] | Flangefitt Stainless Ltd. [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
|
Canada [Member] | Acquisition of PSS [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | ||||||||
| Adjustment of purchase price | ||||||||
|
International [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Goodwill, Beginning Balance | 73,294,000 | [1] | 49,223,000 | [1] | 39,906,000 | [1] | ||
| Effect of foreign currency translation | (2,459,000) | 1,045,000 | (2,248,000) | |||||
| Goodwill, Ending Balance | 80,307,000 | 73,294,000 | [1] | 49,223,000 | [1] | |||
|
International [Member] | Acquisition of MRC SPF [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 11,565,000 | |||||||
| Adjustment of purchase price | 1,197,000 | |||||||
|
International [Member] | Acquisition of MRC PSA [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | 21,829,000 | |||||||
|
International [Member] | Flangefitt Stainless Ltd. [Member]
|
||||||||
| Schedule Of Intangible Assets By Segment [Line Items] | ||||||||
| Acquisition | $ 9,472,000 | |||||||
|
||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The accumulated impairment losses related to goodwill as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other decrease (increase) in the carrying value of goodwill that is not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) to the recorded value of goodwill for foreign currency translation adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets by Major Classification) (Details) (USD $)
|
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|||||
| Intangible Assets By Major Class [Line Items] | ||||||
| Weighted- Average Amortization Period (in years) | 15 years 6 months | 15 years 7 months 6 days | ||||
| Gross | $ 1,008,474,000 | $ 999,174,000 | ||||
| Accumulated Amortization | (300,465,000) | (249,902,000) | ||||
| Finite-Lived Intangible Assets, Net, Total | 708,009,000 | 749,272,000 | ||||
| Net of accumulated impairment losses | 76,200,000 | |||||
|
Customer Base [Member]
|
||||||
| Intangible Assets By Major Class [Line Items] | ||||||
| Weighted- Average Amortization Period (in years) | 15 years 9 months 18 days | 15 years 9 months 18 days | ||||
| Gross | 730,108,000 | 721,010,000 | ||||
| Accumulated Amortization | (291,116,000) | (242,355,000) | ||||
| Finite-Lived Intangible Assets, Net, Total | 438,992,000 | 478,655,000 | ||||
|
Amortizable Trade Names [Member]
|
||||||
| Intangible Assets By Major Class [Line Items] | ||||||
| Weighted- Average Amortization Period (in years) | 6 years 1 month 6 days | 6 years 8 months 12 days | ||||
| Gross | 18,099,000 | 15,671,000 | ||||
| Accumulated Amortization | (9,268,000) | (6,577,000) | ||||
| Finite-Lived Intangible Assets, Net, Total | 8,831,000 | 9,094,000 | ||||
|
Noncompete Agreements [Member]
|
||||||
| Intangible Assets By Major Class [Line Items] | ||||||
| Weighted- Average Amortization Period (in years) | 3 years | 3 years 9 months 18 days | ||||
| Gross | 244,000 | 2,470,000 | ||||
| Accumulated Amortization | (81,000) | (970,000) | ||||
| Finite-Lived Intangible Assets, Net, Total | 163,000 | 1,500,000 | ||||
|
Indefinite Lived Trade Names [Member]
|
||||||
| Intangible Assets By Major Class [Line Items] | ||||||
| Gross | 260,023,000 | [1] | 260,023,000 | [1] | ||
| Finite-Lived Intangible Assets, Net, Total | $ 260,023,000 | [1] | $ 260,023,000 | [1] | ||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The accumulated impairment losses related to goodwill as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill and Other Intangible Assets (Schedule of Amortization of Intangible Assets) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
| Goodwill and Other Intangible Assets [Abstract] | |
| 2014 | $ 53,830 |
| 2015 | 53,207 |
| 2016 | 51,671 |
| 2017 | 50,023 |
| 2018 | $ 49,092 |
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the next fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fifth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fourth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the third fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the second fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Long-Term Debt (Narrative) (Details) (USD $)
|
12 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2013
Maximum [Member]
|
Dec. 31, 2013
Senior Secured Term Loan B, Net of Discount [Member]
|
Nov. 30, 2013
Senior Secured Term Loan B, Net of Discount [Member]
|
Dec. 31, 2012
Senior Secured Term Loan B, Net of Discount [Member]
|
Nov. 30, 2012
Senior Secured Term Loan B, Net of Discount [Member]
|
Nov. 30, 2012
9.50% Senior Secured Notes Due 2016 [Member]
|
Sep. 30, 2012
9.50% Senior Secured Notes Due 2016 [Member]
|
Dec. 31, 2013
9.50% Senior Secured Notes Due 2016 [Member]
|
Dec. 31, 2013
Global ABL Facility [Member]
|
Dec. 31, 2012
Global ABL Facility [Member]
|
Dec. 31, 2013
Global ABL Facility [Member]
Minimum [Member]
|
Dec. 31, 2013
Global ABL Facility [Member]
Maximum [Member]
|
Dec. 31, 2013
Senior Secured Leverage Ratio Is No More Than 2.75 to 1.00 [Member]
|
Dec. 31, 2013
Senior Secured Leverage Ratio Is No More Than 2.75 to 1.00 [Member]
Maximum [Member]
|
Dec. 31, 2013
Senior Secured Leverage Ratio Is Less Than 2.50 to 1.00 [Member]
|
Dec. 31, 2013
Senior Secured Leverage Ratio Is Less Than 2.50 to 1.00 [Member]
Maximum [Member]
|
Dec. 31, 2013
LIBOR [Member]
|
Dec. 31, 2013
Other Customary Restrictive Covenants [Member]
Maximum [Member]
|
Dec. 31, 2013
Company May Incur First Lien Indebtedness Pari Passu to the Term Loan [Member]
Maximum [Member]
|
Dec. 31, 2013
Company May Incur Second Lien Indebtedness [Member]
Maximum [Member]
|
Dec. 31, 2013
Company May Incur Unsecured Indebtedness [Member]
Maximum [Member]
|
Dec. 31, 2013
Company May Incur Indebtedness [Member]
Global ABL Facility [Member]
Maximum [Member]
|
Dec. 31, 2013
United States [Member]
Global ABL Facility [Member]
|
Dec. 31, 2013
United States [Member]
Global ABL Facility [Member]
Minimum [Member]
|
Dec. 31, 2013
United States [Member]
Global ABL Facility [Member]
Maximum [Member]
|
Dec. 31, 2013
Canada [Member]
Global ABL Facility [Member]
|
Dec. 31, 2013
United Kingdom [Member]
Global ABL Facility [Member]
|
Dec. 31, 2013
Australia [Member]
Global ABL Facility [Member]
|
Dec. 31, 2013
Netherlands [Member]
Global ABL Facility [Member]
|
Dec. 31, 2013
Belgium [Member]
Global ABL Facility [Member]
|
|
| Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
| Long-term debt | $ 986,834,000 | $ 1,256,589,000 | $ 787,059,000 | $ 793,500,000 | $ 642,030,000 | $ 650,000,000 | $ 861,300,000 | $ 188,700,000 | $ 199,630,000 | $ 608,006,000 | ||||||||||||||||||||||
| Debt maturity period | 7 years | |||||||||||||||||||||||||||||||
| Interest rate | 9.50% | |||||||||||||||||||||||||||||||
| Purchase of senior secured notes | 1,135,223,000 | 205,000,000 | ||||||||||||||||||||||||||||||
| Redemption resulted in pre-tax loss | 92,200,000 | 21,700,000 | ||||||||||||||||||||||||||||||
| Payment of premium for early redemption | 68,900,000 | |||||||||||||||||||||||||||||||
| Term Loan accordion feature | 200,000,000 | |||||||||||||||||||||||||||||||
| Unrestricted cash of Term Loan | 75,000,000 | |||||||||||||||||||||||||||||||
| Senior secured leverage ratio | 3.50 | 2.75 | 2.50 | 3.25 | 3.50 | |||||||||||||||||||||||||||
| Debt instrument, maturity date | Nov. 09, 2019 | |||||||||||||||||||||||||||||||
| Term loan annual amortization percentage | 1.00% | |||||||||||||||||||||||||||||||
| Percentage of capital stock in foreign subsidiaries securing Term Loan B | 65.00% | |||||||||||||||||||||||||||||||
| Interest at base rate | 2.00% | |||||||||||||||||||||||||||||||
| Rate based on LIBOR | 1.00% | 1.50% | 2.00% | |||||||||||||||||||||||||||||
| Debt instrument basis spread on variable rate | 3.00% | 4.00% | ||||||||||||||||||||||||||||||
| Debt instrument rate basis step down | 0.25% | |||||||||||||||||||||||||||||||
| Consolidated total leverage ratio | 2.50 | |||||||||||||||||||||||||||||||
| Premium for re-pricing transactions | 1.00% | |||||||||||||||||||||||||||||||
| Reduction in cash flow | 50.00% | 0.00% | ||||||||||||||||||||||||||||||
| Reduction in cash flow | 25.00% | |||||||||||||||||||||||||||||||
| Junior secured leverage ratio | 4.00 | |||||||||||||||||||||||||||||||
| Total leverage ratio | 5.00 | |||||||||||||||||||||||||||||||
| Indebtedness under Global ABL Facility | 1,300,000,000 | |||||||||||||||||||||||||||||||
| Maximum Borrowing Base of accounts receivable | 85.00% | 85.00% | ||||||||||||||||||||||||||||||
| Maximum Borrowing Base of inventory | 70.00% | 85.00% | 65.00% | |||||||||||||||||||||||||||||
| Credit facility, durational term | 5 years | |||||||||||||||||||||||||||||||
| Credit facility, maximum borrowing capacity | 1,250,000,000 | 977,000,000 | 170,000,000 | 12,000,000 | 75,000,000 | 9,000,000 | 7,000,000 | |||||||||||||||||||||||||
| Global ABL accordian feature | 300,000,000 | |||||||||||||||||||||||||||||||
| Credit facility, availability | $ 776,900,000 | |||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Account Receivable Net Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Basis Point Reduction In Interest Rate No definition available.
|
| X | ||||||||||
|
- Definition
Commitments Outstanding Amount No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Amortization Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Debt Maturity Period No definition available.
|
| X | ||||||||||
|
- Definition
Initial Interest Rate Floor No definition available.
|
| X | ||||||||||
|
- Definition
Leverage Ratio On Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Libor Floor Rate No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Credit Facility Durational Term No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Capital Stock In Foreign Subsidiaries No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of First Reduction On Basis Of First Lien Secured Leverage Ratio No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Liquidation Value Of Eligible Inventory Used To Determine Borrowings Available Under Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Second Reduction On Basis Of First Lien Secured Leverage Ratio No definition available.
|
| X | ||||||||||
|
- Definition
Premium Payment On Senior Secured Notes No definition available.
|
| X | ||||||||||
|
- Definition
Prepayment Premium Percentage Of Principal Amount No definition available.
|
| X | ||||||||||
|
- Definition
Pre Tax Income Loss No definition available.
|
| X | ||||||||||
|
- Definition
Second Lien Indebtedness Junior Secured Leverage Ratio No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of incremental increases allowed under the Senior Secured Term Loan. No definition available.
|
| X | ||||||||||
|
- Definition
Term Loan Senior Secured Leverage Ratio No definition available.
|
| X | ||||||||||
|
- Definition
Unencumbered Leverage Ratio No definition available.
|
| X | ||||||||||
|
- Definition
Unrestricted Cash No definition available.
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum amount of borrowing capacity under a line of credit that is available as of the balance sheet date for financing purchases of goods acquired for inventory or imminent delivery to a customer. No definition available.
|
| X | ||||||||||
|
- Definition
Increase for additional borrowings on the credit facility during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt (Significant Components of Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Nov. 30, 2013
|
Dec. 31, 2012
|
Nov. 30, 2012
|
|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||
| Long-term debt | $ 986,834 | $ 1,256,589 | ||
| Less current portion | 7,935 | 6,500 | ||
| Long-term debt, net | 978,899 | 1,250,089 | ||
|
Senior Secured Term Loan B, Net of Discount [Member]
|
||||
| Debt Instrument [Line Items] | ||||
| Long-term debt | 787,059 | 793,500 | 642,030 | 650,000 |
| Original issue discount on senior secured notes | 4,457 | 6,345 | ||
|
Global ABL Facility [Member]
|
||||
| Debt Instrument [Line Items] | ||||
| Long-term debt | 199,630 | 608,006 | ||
|
Other [Member]
|
||||
| Debt Instrument [Line Items] | ||||
| Long-term debt | $ 145 | $ 6,553 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt (Interest on Borrowings) (Details)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
|
Global ABL Facility [Member]
|
||
| Debt Instrument [Line Items] | ||
| Weighted-average interest rate | 2.12% | 2.21% |
|
Senior Secured Term Loan B, Net of Discount [Member]
|
||
| Debt Instrument [Line Items] | ||
| Weighted-average interest rate | 5.09% | 6.39% |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the calculation as of the balance sheet date of the average interest rate weighted by the amount of long-term debt outstanding by type or by instrument at that time. No definition available.
|
|
Long-Term Debt (Schedule of Maturities of Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
| Long-Term Debt [Abstract] | |
| 2014 | $ 7,935 |
| 2015 | 8,080 |
| 2016 | 7,935 |
| 2017 | 207,565 |
| 2018 | 7,935 |
| Thereafter | $ 747,384 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Financial Instruments (Fair Value of Derivative Instruments Recorded in Consolidated Balance Sheets) (Details)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Dec. 31, 2013
Foreign Exchange Forward [Member]
USD ($)
|
Dec. 31, 2013
Foreign Exchange Forward [Member]
NOK
|
||||
|---|---|---|---|---|---|---|---|---|
| Derivatives, Fair Value [Line Items] | ||||||||
| Foreign exchange forward contracts, Assets | $ 4,603,000 | [1] | $ 3,000 | [1] | ||||
| Foreign exchange forward contracts, Liabilities | [1] | [1] | ||||||
| Notional amount of forward foreign exchange contracts | $ 331,000,000 | $ 69,000,000 | $ 260,000,000 | 1,600,000,000 | ||||
|
||||||||
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of all foreign currency derivative assets not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of all foreign currency derivative liabilities not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Financial Instruments (Amount of Gains and (Losses) Recognized in Consolidated Statements of Operations Related to Derivative Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Derivative Financial Instruments [Abstract] | |||
| Derivatives not designated as hedging instruments, Foreign exchange forward contracts | $ 4,731 | $ 176 | $ 71 |
| Derivatives not designated as hedging instruments, Interest rate contracts | $ 2,010 | $ 6,973 | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in earnings in the period from the increase (decrease) in fair value of foreign currency derivatives not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) included in earnings for the period from the increase (decrease) in fair value of interest rate derivatives not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Operating Loss Carryforwards [Line Items] | ||
| Foreign tax credit carryforwards | $ 4.4 | |
|
U.S. [Member]
|
||
| Operating Loss Carryforwards [Line Items] | ||
| State net operating loss carryforwards | 101.6 | |
| State net operating loss carryforwards future expiration date | 2033 | |
| Income tax examination, description | We are no longer subject to U.S. federal income tax examination for all years through 2009 and the statute of limitations at our international locations is generally six to seven years. | |
|
Non-U.S. [Member]
|
||
| Operating Loss Carryforwards [Line Items] | ||
| State net operating loss carryforwards future expiration date | 2022 | |
| State net operating loss carryforwards | 34.6 | |
| State net operating loss carryforwards with no expiration | 30.6 | |
| State net operating loss carryforwards with expiration | 4.0 | |
| Temporary differences representing earnings of non-US subsidiaries for which deferred income taxes are not provided | $ 192.9 | $ 189.4 |
|
Minimum [Member] | Non-U.S. [Member]
|
||
| Operating Loss Carryforwards [Line Items] | ||
| Income tax examination, statute of limitations | 6 years | |
|
Maximum [Member] | Non-U.S. [Member]
|
||
| Operating Loss Carryforwards [Line Items] | ||
| Income tax examination, statute of limitations | 7 years | |
| X | ||||||||||
|
- Definition
Deferred Income Tax Benefit Expense No definition available.
|
| X | ||||||||||
|
- Definition
Income Tax Examination General Statute of Limitations No definition available.
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are not subject to expiration dates. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are subject to expiration dates. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The expiration date of each operating loss carryforward included in total operating loss carryforwards, or the applicable range of such expiration dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Components of Income Before Income Taxes) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Income Taxes [Abstract] | |||
| United States | $ 231,434 | $ 156,226 | $ 50,654 |
| Foreign | 5,477 | 25,470 | 5,114 |
| Income before income taxes | $ 236,911 | $ 181,696 | $ 55,768 |
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Summary of Income Taxes Included in Consolidated Statements of Income) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Current: | |||
| Federal | $ 90,063 | $ 65,563 | $ 32,080 |
| State | 8,058 | 6,569 | 2,878 |
| Foreign | 6,518 | 12,038 | 8,188 |
| Current income tax expense | 104,639 | 84,170 | 43,146 |
| Deferred: | |||
| Federal | (21,102) | (15,776) | (14,960) |
| State | 2,818 | (1,256) | (1,177) |
| Foreign | (1,539) | (3,400) | (225) |
| Deferred income tax expense (benefit) | (19,823) | (20,432) | (16,362) |
| Income tax expense | $ 84,816 | $ 63,738 | $ 26,784 |
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of foreign enacted tax law to the foreign taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Reconciliation of Statutory Federal Income Tax Rate) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Income Taxes [Abstract] | |||
| Federal tax expense at statutory rates | $ 82,918 | $ 63,474 | $ 19,518 |
| State taxes | 3,855 | 3,453 | 977 |
| Nondeductible expenses | 1,152 | 1,123 | 1,121 |
| Effect of tax rate changes on existing temporary differences | 3,074 | 3,993 | |
| Effect of foreign operations | (9,752) | (3,565) | (499) |
| Change in valuation allowance | 7,714 | (78) | 522 |
| Other | (4,145) | (669) | 1,152 |
| Income tax expense | $ 84,816 | $ 63,738 | $ 26,784 |
| Effective tax rate | 35.80% | 35.10% | 48.00% |
| X | ||||||||||
|
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to changes in the income tax rates under enacted tax laws in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the differences between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to nondeductible expenses under enacted tax laws, or differences in the methodologies used to determine expense amounts for financial statements prepared in accordance with generally accepted accounting principles and enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the year/accounting period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to all other items not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to the repatriation of foreign earnings in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to state and local income tax expense or benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Components of Deferred Income Taxes) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Deferred tax assets: | ||
| Allowance for doubtful accounts | $ 1,265 | $ 2,046 |
| Accruals and reserves | 16,603 | 12,617 |
| Net operating loss and tax credit carryforwards | 13,423 | 5,453 |
| Other | 1,270 | 1,504 |
| Subtotal | 32,561 | 21,620 |
| Valuation allowance | (14,155) | (2,059) |
| Total | 18,406 | 19,561 |
| Deferred tax liabilities: | ||
| Accounts receivable | (4,550) | |
| Inventory valuation | (81,208) | (79,575) |
| Property, plant and equipment | (8,538) | (11,210) |
| Intangible assets | (236,832) | (252,976) |
| Debt | (5,798) | (5,745) |
| Other | (177) | (11) |
| Total | (332,553) | (354,067) |
| Net deferred tax liability | $ (314,147) | $ (334,506) |
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax liability to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from reserves and accruals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from capitalized costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax consequences attributable to taxable temporary differences derived from inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from financing arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stockholders' Equity (Narrative) (Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Stockholders' Equity [Line Items] | |||
| Preferred stock, shares authorized | 100,000,000 | 100,000,000 | |
| Preferred stock, shares issued | 0 | 0 | |
| Preferred stock, shares outstanding | 0 | 0 | |
|
Stock Options [Member]
|
|||
| Stockholders' Equity [Line Items] | |||
| Anti-dilutive securities | 500,000 | 2,100,000 | 2,300,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stockholders' Equity (Accumulated Other Comprehensive Loss in Accompanying Consolidated Balance Sheets) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Stockholders' Equity [Abstract] | ||
| Currency translation adjustments | $ (40,173) | $ (21,829) |
| Pension related adjustments | (249) | (335) |
| Accumulated other comprehensive loss | $ (40,422) | $ (22,164) |
| X | ||||||||||
|
- Definition
The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Stockholders' Equity (Earnings Per Share) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|||||||||||||
| Stockholders' Equity [Abstract] | |||||||||||||||||||||||
| Net income | $ 23,300 | $ 38,800 | $ 43,900 | $ 46,200 | $ (6,400) | $ 55,500 | $ 31,300 | $ 37,500 | $ 152,095 | $ 117,958 | $ 28,984 | ||||||||||||
| Average basic shares outstanding | 101,712 | 96,465 | 84,417 | ||||||||||||||||||||
| Effect of dilutive securities | 810 | 460 | 238 | ||||||||||||||||||||
| Average diluted shares outstanding | 102,522 | 96,925 | 84,655 | ||||||||||||||||||||
| Net income per share: | |||||||||||||||||||||||
| Basic | $ 0.23 | [1] | $ 0.38 | [1] | $ 0.43 | [1] | $ 0.45 | [1] | $ (0.06) | [1] | $ 0.55 | [1] | $ 0.32 | [1] | $ 0.44 | [1] | $ 1.50 | [1] | $ 1.22 | [1] | $ 0.34 | ||
| Diluted | $ 0.23 | [1] | $ 0.38 | [1] | $ 0.43 | [1] | $ 0.45 | [1] | $ (0.06) | [1] | $ 0.54 | [1] | $ 0.32 | [1] | $ 0.44 | [1] | $ 1.48 | [1] | $ 1.22 | [1] | $ 0.34 | ||
|
|||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefit Plans (Narrative) (Details) (USD $)
|
12 Months Ended | 21 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
employee
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
2007 Stock Option Plan [Member]
|
Dec. 31, 2013
2007 Restricted Stock Plan [Member]
|
Dec. 31, 2013
2011 Omnibus Incentive Plan [Member]
|
Dec. 31, 2013
2011 Omnibus Incentive Plan [Member]
|
Dec. 31, 2013
November 2013 Secondary Offering [Member]
|
Dec. 31, 2013
Minimum [Member]
|
Dec. 31, 2013
Minimum [Member]
2011 Omnibus Incentive Plan [Member]
|
Dec. 31, 2013
Maximum [Member]
|
Dec. 31, 2013
Maximum [Member]
2011 Omnibus Incentive Plan [Member]
|
Dec. 31, 2013
Goldman Sachs Funds [Member]
|
Dec. 31, 2013
Stock Options [Member]
|
Dec. 31, 2012
Stock Options [Member]
|
Dec. 31, 2011
Stock Options [Member]
|
Dec. 31, 2013
Restricted Stock [Member]
|
Dec. 31, 2012
Restricted Stock [Member]
|
Dec. 31, 2011
Restricted Stock [Member]
|
Dec. 31, 2012
Profit Units [Member]
|
Dec. 31, 2011
Profit Units [Member]
|
Dec. 31, 2013
Director [Member]
|
|
| Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||
| Shares available for grant | 3,750,000 | 500,000 | ||||||||||||||||||||
| Shares reserved for issuance | 3,250,000 | 3,250,000 | ||||||||||||||||||||
| Maximum term for stock option plan grant | 10 years | |||||||||||||||||||||
| Vesting period | 5 years | 4 years | 5 years | 1 year | ||||||||||||||||||
| Common stock, shares outstanding | 101,913,000 | 101,563,000 | 5,141,547 | |||||||||||||||||||
| Stock options vested | 852,939 | 2,397,955 | ||||||||||||||||||||
| Shares of restricted stock vested | 134,211 | 135,179 | ||||||||||||||||||||
| Shares of restricted stock granted | 99,163 | 1,890,670 | 99,163 | |||||||||||||||||||
| Stock options exercised | 262,586 | 262,586 | ||||||||||||||||||||
| Grant of stock options | 0 | 726,746 | ||||||||||||||||||||
| Stock based compensation | $ 15,488,000 | $ 8,475,000 | $ 8,385,000 | $ 5,200,000 | $ 13,329,000 | $ 7,533,000 | $ 6,707,000 | $ 2,159,000 | $ 481,000 | $ 412,000 | $ 461,000 | $ 1,267,000 | ||||||||||
| Stock options issued or granted | 726,746 | |||||||||||||||||||||
| Employer matching contribution | 1.00% | 10.00% | ||||||||||||||||||||
| Defined contribution plans | 10,500,000 | 9,000,000 | 6,500,000 | |||||||||||||||||||
| Defined benefit pension plan, number of current and former employees | 13 | |||||||||||||||||||||
| Defined benefit pension plan liability | $ 500,000 | $ 700,000 | ||||||||||||||||||||
| X | ||||||||||
|
- Definition
Maintained defined benefit pension plan, number of current and former employees of Belgian subsidiary. No definition available.
|
| X | ||||||||||
|
- Definition
Stock Option Maximum Term No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This represents the entire liability recognized in the balance sheet that is associated with the defined benefit pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of employees' gross pay for which the employer contributes a matching contribution to a defined contribution plan. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of exercisable share options (fully vested and expected to vest) that may be converted as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefit Plans (Schedule of Stock Option Activity Plans) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
| Options outstanding, vested and expected to vest, Options | 3,883,434 |
| Options outstanding, vested and expected to vest, Weighted Average Exercise Price | $ 20.40 |
| Options outstanding, vested and expected to vest, Weighted Average Remaining Contractual Term | 6 years 10 months 24 days |
| Options outstanding, vested and expected to vest, Aggregate Intrinsic Value | $ 45,798 |
|
Stock Options [Member]
|
|
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
| Beginning Balance, Options | 3,758,758 |
| Granted, Options | 726,746 |
| Exercised, Options | (262,586) |
| Forfeited, Options | (286,257) |
| Expired, Options | (2,576) |
| Ending Balance, Options | 3,934,085 |
| Options outstanding, vested and exercisable, Options | 2,397,955 |
| Beginning Balance, Weighted Average Exercise Price | $ 18.05 |
| Granted, Weighted Average Exercise Price | $ 29.53 |
| Exercised, Weighted Average Exercise Price | $ 12.50 |
| Forfeited, Weighted Average Exercise Price | $ 22.62 |
| Expired, Weighted Average Exercise Price | $ 12.52 |
| Ending Balance, Weighted Average Exercise Price | $ 20.47 |
| Options outstanding, vested and exercisable, Weighted Average Exercise Price | $ 17.75 |
| Beginning Balance, Weighted Average Remaining Contractual Term | 7 years 4 months 24 days |
| Ending Balance, Weighted Average Remaining Contractual Term | 7 years |
| Options outstanding, vested and exercisable, Weighted Average Remaining Contractual Term | 5 years 9 months 18 days |
| Beginning Balance, Aggregate Intrinsic Value | 36,585 |
| Ending Balance, Aggregate Intrinsic Value | 46,144 |
| Options outstanding, vested and exercisable, Aggregate Intrinsic Value | $ 34,772 |
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Terms No definition available.
|
| X | ||||||||||
|
- Definition
Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of fully vested and expected to vest options that are exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of exercisable share options (fully vested and expected to vest) that may be converted as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price (at which grantees can acquire the shares reserved for issuance) for exercisable stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for fully vested and expected to vest options that are exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefit Plans (Schedule of Restricted Stock Option Activity Plans) (Details) (Restricted Stock [Member], USD $)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
Restricted Stock [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Nonvested, Beginning Balance, Shares | 134,211 |
| Granted, Shares | 99,163 |
| Vested, Shares | (135,179) |
| Forfeited, Shares | (4,712) |
| Nonvested, Ending Balance, Shares | 93,483 |
| Nonvested, Beginning Balance, Weighted Average Grant-Date Fair Value | $ 15.65 |
| Granted, Weighted Average Grant-Date Fair Value | $ 29.52 |
| Vested, Weighted Average Grant-Date Fair Value | $ 15.76 |
| Forfeited, Weighted Average Grant-Date Fair Value | $ 29.87 |
| Nonvested, Ending Balance, Weighted Average Grant-Date Fair Value | $ 29.48 |
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Employee Benefit Plans (Summarized Award Activity Under Stock Option and Restricted Stock Plans) (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Stock Options [Member]
|
|||
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
| Weighted-average, grant-date fair value of awards granted | $ 12.10 | $ 6.52 | $ 3.46 |
| Total intrinsic value of stock options exercised | $ 4,717,693 | $ 1,089,830 | $ 1,715 |
| Total fair value of stock options vested | 6,352,967 | 1,370,130 | 1,833,836 |
|
Restricted Stock [Member]
|
|||
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
| Weighted-average, grant-date fair value of awards granted | $ 29.48 | $ 15.65 | $ 14.36 |
| Total fair value of restricted stock vested | $ 4,173,834 | $ 484,141 | $ 378,670 |
| X | ||||||||||
|
- Definition
The total fair value of equity-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Employee Benefit Plans (Weighted-Average Assumptions Used to Estimate Fair Values of Stock Options) (Details)
|
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
||||||
| Employee Benefit Plans [Abstract] | ||||||||
| Risk-free interest rate | 0.86% | 0.90% | 1.32% | |||||
| Dividend yield | 0.00% | [1] | 0.00% | [1] | 0.00% | [1] | ||
| Expected volatility | 40.96% | 41.87% | 46.05% | |||||
| Expected life (in years) | 6 years 2 months 12 days | 6 years 7 months 6 days | 5 years | |||||
|
||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefit Plans (Recognized Compensation Expense and Related Income Tax Benefits Under Equity-Based Compensation Plans) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items] | |||
| Equity-based compensation expense | $ 15,488 | $ 8,475 | $ 8,385 |
| Income tax benefits related to equity-based compensation | 5,743 | 3,114 | 3,081 |
|
Stock Options [Member]
|
|||
| Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items] | |||
| Equity-based compensation expense | 13,329 | 7,533 | 6,707 |
|
Restricted Stock [Member]
|
|||
| Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items] | |||
| Equity-based compensation expense | 2,159 | 481 | 412 |
|
Restricted Common Units [Member]
|
|||
| Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items] | |||
| Equity-based compensation expense | (1) | ||
|
Profit Units [Member]
|
|||
| Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items] | |||
| Equity-based compensation expense | $ 461 | $ 1,267 | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefit Plans (Unrecognized Compensation Expense Under Equity-Based Compensation Plans) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
| Unrecognized Stock Based Compensation Expense [Line Items] | |
| Unrecognized equity-based compensation expense | $ 12,118 |
|
Stock Options [Member]
|
|
| Unrecognized Stock Based Compensation Expense [Line Items] | |
| Unrecognized equity-based compensation , Weighted-Average Vesting Period (in years) | 2 years 10 months 24 days |
| Unrecognized equity-based compensation expense | 10,168 |
|
Restricted Stock [Member]
|
|
| Unrecognized Stock Based Compensation Expense [Line Items] | |
| Unrecognized equity-based compensation , Weighted-Average Vesting Period (in years) | 3 years 6 months |
| Unrecognized equity-based compensation expense | $ 1,950 |
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement Unrecognized Compensation Expense No definition available.
|
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement Unrecognized Compensation Expense Weighted Average Vesting Period No definition available.
|
| X | ||||||||||
|
- Details
|
|
Related Party Transactions (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Related Party Transaction [Line Items] | |||
| Rent expense attributable to related parties | $ 2,000,000 | $ 4,300,000 | $ 5,500,000 |
| Future minimum rental payments, 2014 | 41,328,000 | ||
| Future minimum rental payments, 2015 | 33,268,000 | ||
| Future minimum rental payments, 2016 | 24,208,000 | ||
| Future minimum rental payments, 2017 | 18,448,000 | ||
| Future minimum rental payments, 2018 and thereafter | 16,686,000 | ||
|
Europump Systems Inc. [Member]
|
|||
| Related Party Transaction [Line Items] | |||
| Purchases from affiliates | 42,300,000 | 39,300,000 | 42,000,000 |
| Amounts payable to affiliates | 0 | 4,900,000 | |
| Sales to affiliates | 2,100,000 | 1,200,000 | 2,500,000 |
| Receivables from affiliates | 800,000 | 200,000 | |
| Profit sharing expense to affiliates | 6,200,000 | 7,900,000 | 5,800,000 |
|
Related Parties [Member]
|
|||
| Related Party Transaction [Line Items] | |||
| Future minimum rental payments, 2014 | 2,000,000 | ||
| Future minimum rental payments, 2015 | 1,400,000 | ||
| Future minimum rental payments, 2016 | 1,500,000 | ||
| Future minimum rental payments, 2017 | 1,400,000 | ||
| Future minimum rental payments, 2018 and thereafter | 1,400,000 | ||
|
Cypress Energy Partners LP [Member]
|
|||
| Related Party Transaction [Line Items] | |||
| Sales to affiliates | 400,000 | ||
|
Goldman Sachs Funds [Member]
|
|||
| Related Party Transaction [Line Items] | |||
| Sales to affiliates | 33,700,000 | 23,100,000 | 12,000,000 |
| Receivables from affiliates | 7,000,000 | 5,000,000 | |
| Payments made to affiliates | 10,900,000 | 13,200,000 | 300,000 |
| Payment made for treasury, accounts receivables collection software and disaster recovery systems | $ 600,000 | $ 900,000 | |
| X | ||||||||||
|
- Definition
Aggregate Payments Related To Affiliates No definition available.
|
| X | ||||||||||
|
- Definition
Payment To Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expense recognized for the aggregate profit participation of affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Rental Expense to Related Parties No definition available.
|
| X | ||||||||||
|
- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables arising from transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the forth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing after the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment, Geographic and Product Line Information (Narrative) (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2013
segment
|
|
| Segment, Geographic and Product Line Information [Abstract] | |
| Business segments | 3 |
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Segment, Geographic and Product Line Information (Schedule of Financial Information for Each Segment) (Details) (USD $)
|
3 Months Ended | 12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|||||||
| Sales | ||||||||||||||||||
| Consolidated sales | $ 1,344,200,000 | $ 1,313,700,000 | $ 1,267,800,000 | $ 1,305,100,000 | $ 1,306,700,000 | $ 1,451,100,000 | $ 1,430,400,000 | $ 1,382,600,000 | $ 5,230,792,000 | $ 5,570,858,000 | $ 4,832,423,000 | |||||||
| Depreciation and amortization | ||||||||||||||||||
| Total depreciation and amortization expense | 22,300,000 | 18,600,000 | 17,000,000 | |||||||||||||||
| Amortization of intangibles | ||||||||||||||||||
| Total amortization of intangibles expense | 52,072,000 | 49,466,000 | 50,652,000 | |||||||||||||||
| Operating income | ||||||||||||||||||
| Total operating income | 311,765,000 | 406,990,000 | 194,589,000 | |||||||||||||||
| Interest expense | (60,685,000) | (112,519,000) | (136,844,000) | |||||||||||||||
| Loss on early extinguishment of debt | 113,961,000 | |||||||||||||||||
| Other (income) expense | 14,200,000 | (1,200,000) | 2,000,000 | |||||||||||||||
| Income before income taxes | 236,911,000 | 181,696,000 | 55,768,000 | |||||||||||||||
| Goodwill | ||||||||||||||||||
| Total goodwill | 632,284,000 | 610,392,000 | [1] | 632,284,000 | 610,392,000 | [1] | 561,270,000 | [1] | 549,384,000 | [1] | ||||||||
| Total assets | ||||||||||||||||||
| Total assets | 3,335,682,000 | 3,369,727,000 | 3,335,682,000 | 3,369,727,000 | ||||||||||||||
|
United States [Member]
|
||||||||||||||||||
| Sales | ||||||||||||||||||
| Consolidated sales | 3,967,600,000 | 4,238,400,000 | 3,849,200,000 | |||||||||||||||
| Depreciation and amortization | ||||||||||||||||||
| Total depreciation and amortization expense | 13,600,000 | 11,200,000 | 11,600,000 | |||||||||||||||
| Amortization of intangibles | ||||||||||||||||||
| Total amortization of intangibles expense | 42,400,000 | 40,000,000 | 40,100,000 | |||||||||||||||
| Operating income | ||||||||||||||||||
| Total operating income | 280,100,000 | 358,300,000 | 166,500,000 | |||||||||||||||
| Total assets | ||||||||||||||||||
| Total assets | 2,732,300,000 | 2,732,400,000 | 2,732,300,000 | 2,732,400,000 | ||||||||||||||
|
Canada [Member]
|
||||||||||||||||||
| Sales | ||||||||||||||||||
| Consolidated sales | 709,400,000 | 765,200,000 | 653,600,000 | |||||||||||||||
| Depreciation and amortization | ||||||||||||||||||
| Total depreciation and amortization expense | 2,000,000 | 2,100,000 | 2,500,000 | |||||||||||||||
| Amortization of intangibles | ||||||||||||||||||
| Total amortization of intangibles expense | 2,400,000 | 2,500,000 | 4,500,000 | |||||||||||||||
| Operating income | ||||||||||||||||||
| Total operating income | 20,900,000 | 27,200,000 | 17,400,000 | |||||||||||||||
| Goodwill | ||||||||||||||||||
| Total goodwill | [1] | [1] | [1] | [1] | ||||||||||||||
| Total assets | ||||||||||||||||||
| Total assets | 204,700,000 | 249,100,000 | 204,700,000 | 249,100,000 | ||||||||||||||
|
International [Member]
|
||||||||||||||||||
| Sales | ||||||||||||||||||
| Consolidated sales | 553,800,000 | 567,200,000 | 329,600,000 | |||||||||||||||
| Depreciation and amortization | ||||||||||||||||||
| Total depreciation and amortization expense | 6,700,000 | 5,300,000 | 2,900,000 | |||||||||||||||
| Amortization of intangibles | ||||||||||||||||||
| Total amortization of intangibles expense | 7,300,000 | 7,000,000 | 6,100,000 | |||||||||||||||
| Operating income | ||||||||||||||||||
| Total operating income | 10,800,000 | 21,500,000 | 10,700,000 | |||||||||||||||
| Goodwill | ||||||||||||||||||
| Total goodwill | 80,307,000 | 73,294,000 | [1] | 80,307,000 | 73,294,000 | [1] | 49,223,000 | [1] | 39,906,000 | [1] | ||||||||
| Total assets | ||||||||||||||||||
| Total assets | $ 398,700,000 | $ 388,200,000 | $ 398,700,000 | $ 388,200,000 | ||||||||||||||
|
||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment, Geographic and Product Line Information (Schedule of Percentage of Net Revenues by Geographical Areas) (Details)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Segment Reporting Information [Line Items] | ||
| Total fixed assets, percentage | 100.00% | 100.00% |
|
United States [Member]
|
||
| Segment Reporting Information [Line Items] | ||
| Total fixed assets, percentage | 57.00% | 56.00% |
|
Canada [Member]
|
||
| Segment Reporting Information [Line Items] | ||
| Total fixed assets, percentage | 24.00% | 24.00% |
|
International [Member]
|
||
| Segment Reporting Information [Line Items] | ||
| Total fixed assets, percentage | 19.00% | 20.00% |
| X | ||||||||||
|
- Definition
Percentage Of Fixed Assets No definition available.
|
| X | ||||||||||
|
- Details
|
|
Segment, Geographic and Product Line Information (Schedule of Net Sales by Product Line) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Energy Carbon Steel Tubular Products [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | $ 1,525,537 | $ 1,873,620 | $ 1,843,139 |
| Percentage of net sales | 29.00% | 34.00% | 38.00% |
|
Energy Carbon Steel Tubular Products [Member] | Line Pipe [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | 1,061,881 | 1,158,512 | 1,033,976 |
| Percentage of net sales | 20.00% | 21.00% | 21.00% |
|
Energy Carbon Steel Tubular Products [Member] | Oil Country Tubular Goods (OCTG) [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | 463,656 | 715,108 | 809,163 |
| Percentage of net sales | 9.00% | 13.00% | 17.00% |
|
Valves, Fittings, Flanges and all Other Products [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | 3,705,255 | 3,697,238 | 2,989,284 |
| Percentage of net sales | 71.00% | 66.00% | 62.00% |
|
Valves, Fittings, Flanges and all Other Products [Member] | Valves and Specialty Products [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | 1,440,431 | 1,431,888 | 1,143,234 |
| Percentage of net sales | 28.00% | 26.00% | 24.00% |
|
Valves, Fittings, Flanges and all Other Products [Member] | Carbon Steel Fittings and Flanges and Stainless Steel and Alloy Pipe and Fittings [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | 1,135,818 | 1,175,276 | 870,581 |
| Percentage of net sales | 22.00% | 21.00% | 18.00% |
|
Valves, Fittings, Flanges and all Other Products [Member] | Other [Member]
|
|||
| Segment Reporting Information [Line Items] | |||
| Net sales | $ 1,129,006 | $ 1,090,074 | $ 975,469 |
| Percentage of net sales | 21.00% | 19.00% | 20.00% |
| X | ||||||||||
|
- Definition
Percentage of net sales. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Fair Value Measurements (Details) (USD $)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Assets: | $ 4,603,000 | $ 3,000 |
| Liabilities: | ||
| Carrying value of debt | 987,000,000 | 1,257,000,000 |
| Fair value of our debt | 997,000,000 | 1,261,000,000 |
|
Level 1 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Assets: | ||
| Liabilities: | ||
|
Level 2 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Assets: | 4,603,000 | 3,000 |
| Liabilities: | ||
|
Level 3 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Assets: | ||
| Liabilities: |
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
|
Commitments and Contingencies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Loss Contingencies [Line Items] | |||
| Operating rental expense | $ 53.3 | $ 48.3 | $ 40.3 |
| Letters of credit outstanding | 33.2 | ||
| Bank guarantees outstanding | $ 6.7 | ||
|
Asbestos [Member]
|
|||
| Loss Contingencies [Line Items] | |||
| Number of lawsuits | 279 | ||
| Asbestos related pending claims | 930 | ||
| Period that projected payments of asbestos claims are projected | 15 years | ||
| X | ||||||||||
|
- Definition
Bank guarantees outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Period that projected payments of asbestos claims No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Lawsuits Filed No definition available.
|
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total amount of pending claims pertaining to a loss contingency accrual as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies (Future Minimum Lease Payment Under Noncancelable Operating and Capital Lease Arrangements) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
| Commitments and Contingencies [Abstract] | |
| 2014 | $ 41,328 |
| 2015 | 33,268 |
| 2016 | 24,208 |
| 2017 | 18,448 |
| 2018 | 14,244 |
| Thereafter | 16,686 |
| Total | 148,182 |
| 2014 | 628 |
| 2015 | 297 |
| 2016 | 158 |
| 2017 | 117 |
| 2018 | 131 |
| Thereafter | 568 |
| Total | $ 1,899 |
| X | ||||||||||
|
- Definition
Amount of minimum lease payments for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the next fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the fifth fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the forth fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the third fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the second fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing after the fifth fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the forth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing after the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Quarterly Information (Unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|||||||||||||
| Quarterly Information (Unaudited) [Abstract] | |||||||||||||||||||||||
| Revenues | $ 1,344,200 | $ 1,313,700 | $ 1,267,800 | $ 1,305,100 | $ 1,306,700 | $ 1,451,100 | $ 1,430,400 | $ 1,382,600 | $ 5,230,792 | $ 5,570,858 | $ 4,832,423 | ||||||||||||
| Gross profit | 226,000 | 238,300 | 243,900 | 246,600 | 258,300 | 277,200 | 241,700 | 236,600 | 954,759 | 1,013,743 | 708,152 | ||||||||||||
| Net income (loss) | $ 23,300 | $ 38,800 | $ 43,900 | $ 46,200 | $ (6,400) | $ 55,500 | $ 31,300 | $ 37,500 | $ 152,095 | $ 117,958 | $ 28,984 | ||||||||||||
| Basic | $ 0.23 | [1] | $ 0.38 | [1] | $ 0.43 | [1] | $ 0.45 | [1] | $ (0.06) | [1] | $ 0.55 | [1] | $ 0.32 | [1] | $ 0.44 | [1] | $ 1.50 | [1] | $ 1.22 | [1] | $ 0.34 | ||
| Diluted | $ 0.23 | [1] | $ 0.38 | [1] | $ 0.43 | [1] | $ 0.45 | [1] | $ (0.06) | [1] | $ 0.54 | [1] | $ 0.32 | [1] | $ 0.44 | [1] | $ 1.48 | [1] | $ 1.22 | [1] | $ 0.34 | ||
|
|||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Subsequent Events (Details) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Jan. 31, 2014
Subsequent Event [Member]
Progressive Cavity Pump ("PCP") [Member]
|
Jan. 31, 2014
Stream AS [Member]
Subsequent Event [Member]
|
Mar. 31, 2014
Forecast [Member]
Subsequent Event [Member]
|
|
| Subsequent Event [Line Items] | ||||
| Expected reduction in sales from divestiture | $ 82 | |||
| Pre-tax charge associated with termination of profit sharing agreement | 7 | |||
| After-tax charge associated with termination of profit sharing agreement | 4.6 | |||
| Acquisition | $ 46.8 | $ 260.0 |
| X | ||||||||||
|
- Definition
After-tax charges associated with profit sharing agreement termination. No definition available.
|
| X | ||||||||||
|
- Definition
Pre-tax charges associated with profit sharing agreement termination. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The quantified amount of the future effect on earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|