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Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	PARK OHIO HOLDINGS CORP
Entity Central Index Key	0000076282
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 423,938
Entity Common Stock, Shares Outstanding		12,392,626

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 62.0	$ 58.0
Accounts receivable, less allowances for doubtful accounts of $3.3 million at December 31, 2015 and $4.1 million at December 31, 2014	199.3	208.0
Inventories, net	249.0	238.4
Deferred tax assets	0.0	28.9
Unbilled contract revenue	26.5	26.8
Prepaid and other current assets	12.8	22.1
Total current assets	549.6	582.2
Net property, plant and equipment	151.3	141.1
Goodwill	82.0	89.5
Intangible assets, net	92.8	88.1
Other long-term assets	70.9	73.3
Total assets	946.6	974.2
Current liabilities:
Trade accounts payable	129.7	160.3
Accrued expenses and other	95.5	103.6
Total current liabilities	225.2	263.9
Long-term liabilities, less current portion:
Debt	450.3	434.4
Deferred tax liabilities	20.4	43.9
Other postretirement benefits and other long-term liabilities	38.5	40.1
Total long-term liabilities	509.2	518.4
Capital stock, par value $1 a share
Serial preferred stock: Authorized -- 632,470 shares: Issued and outstanding -- none	0.0	0.0
Common stock: Authorized - 40,000,000 shares; Issued - 14,653,985 shares in 2015 and 14,513,821 in 2014	14.7	14.5
Additional paid-in capital	99.0	89.8
Retained earnings	168.3	126.5
Treasury stock, at cost, 2,383,903 shares in 2015 and 2,014,692 shares in 2014	(46.7)	(31.2)
Accumulated other comprehensive loss	(30.0)	(14.0)
Total Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity	205.3	185.6
Noncontrolling interest	6.9	6.3
Total equity	212.2	191.9
Total liabilities and shareholders' equity	$ 946.6	$ 974.2

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3.3	$ 4.1
Capital stock, par value (in dollars per share)	$ 1	$ 1
Serial preferred stock, shares authorized (in shares)	632,470	632,470
Serial preferred stock, shares issued (in shares)	0	0
Serial preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	14,653,985	14,513,821
Treasury stock, shares (in shares)	2,383,903	2,014,692

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net sales	$ 1,463.8	$ 1,378.7	$ 1,203.2
Cost of sales	1,228.6	1,144.2	992.2
Gross profit	235.2	234.5	211.0
Selling, general and administrative expenses	135.1	136.6	120.2
Litigation judgment and settlement costs	2.2	0.0	5.2
Operating income	97.9	97.9	85.6
Gain on acquisition of business	0.0	0.0	(0.6)
Interest expense	27.9	26.1	25.9
Income from continuing operations before income taxes	70.0	71.8	60.3
Income tax expense	21.3	24.9	19.4
Net income from continuing operations	48.7	46.9	40.9
Income from discontinued operations, net of taxes	0.0	0.0	3.0
Net income	48.7	46.9	43.9
Net income attributable to noncontrolling interest	(0.6)	(1.3)	(0.5)
Net income attributable to ParkOhio common shareholders	$ 48.1	$ 45.6	$ 43.4
Earnings per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations (in dollars per share)	$ 3.94	$ 3.77	$ 3.40
Discontinued operations (in dollars per share)	0.00	0.00	0.25
Basic (in dollars per share)	3.94	3.77	3.65
Earnings per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations (in dollars per share)	3.88	3.68	3.31
Discontinued operations (in dollars per share)	0.00	0.00	0.25
Diluted (in dollars per share)	$ 3.88	$ 3.68	$ 3.56
Weighted-average shares used to compute earnings per share:
Basic (in shares)	12,215,425	12,097,018	11,936,772
Diluted (in shares)	12,382,951	12,376,076	12,232,165
Dividend per common share (in dollars per share)	$ 0.5	$ 0.375	$ 0

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 48.7	$ 46.9	$ 43.9
Other comprehensive income (loss):
Foreign currency translation (loss)	(11.8)	(7.9)	(2.6)
Pension and postretirement benefit adjustments, net of tax	(4.2)	(9.5)	12.8
Total other comprehensive (loss) income	(16.0)	(17.4)	10.2
Total comprehensive income, net of tax	32.7	29.5	54.1
Comprehensive income attributable to noncontrolling interest	(0.6)	(1.3)	(0.5)
Comprehensive income attributable to ParkOhio common shareholders	$ 32.1	$ 28.2	$ 53.6

Consolidated Statement of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2012		14,109,255
Beginning balance at Dec. 31, 2012	$ 101.8	$ 14.1	$ 76.9	$ 42.2	$ (24.6)	$ (6.8)	$ 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	54.1			43.4		10.2	0.5
Share-based compensation	4.1		4.1	0.0
Restricted stock awards and options exercised (in shares)		204,650
Restricted stock awards and options exercised	0.0	$ 0.2	(0.2)
Restricted stock cancelled (in shares)		(4,000)
Restricted stock cancelled	0.0	$ 0.0	0.0
Performance shares issued (in shares)		14,000
Performance shares issued	0.4	$ 0.0	0.4
Capital contribution from non-controlling interest	5.0		0.5				4.5
Purchase of treasury stock	(2.2)				(2.2)
Exercise of stock options (in shares)		40,334
Exercise of stock options	0.4	$ 0.1	0.3
Income tax effect of share-based compensation exercises and vesting	0.4		0.4
Ending balance (in shares) at Dec. 31, 2013		14,364,239
Ending balance at Dec. 31, 2013	164.0	$ 14.4	82.4	85.6	(26.8)	3.4	5.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	29.5			45.6		(17.4)	1.3
Share-based compensation	5.8		5.8	0.0
Restricted stock awards and options exercised (in shares)		140,250
Restricted stock awards and options exercised	0.0	$ 0.1	(0.1)
Restricted stock cancelled (in shares)		(4,668)
Restricted stock cancelled	(0.1)	$ 0.0	(0.1)
Performance shares issued (in shares)		14,000
Performance shares issued	0.7	$ 0.0	0.7
Dividends	(4.7)			(4.7)
Purchase of treasury stock	(4.4)				(4.4)
Income tax effect of share-based compensation exercises and vesting	1.1		1.1
Ending balance (in shares) at Dec. 31, 2014		14,513,821
Ending balance at Dec. 31, 2014	191.9	$ 14.5	89.8	126.5	(31.2)	(14.0)	6.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	32.7			48.1		(16.0)	0.6
Share-based compensation	7.3		7.3	0.0
Restricted stock awards and options exercised (in shares)		72,500
Restricted stock awards and options exercised	0.0	$ 0.1	(0.1)
Restricted stock cancelled (in shares)		(29,836)
Restricted stock cancelled	0.0	$ 0.0	0.0
Performance shares issued (in shares)		14,000
Performance shares issued	0.0	$ 0.0	0.0
Dividends	(6.3)			(6.3)
Purchase of treasury stock	$ (15.5)				(15.5)
Exercise of stock options (in shares)	83,500	83,500
Exercise of stock options	$ 1.2	$ 0.1	1.1
Income tax effect of share-based compensation exercises and vesting	0.9		0.9
Ending balance (in shares) at Dec. 31, 2015		14,653,985
Ending balance at Dec. 31, 2015	$ 212.2	$ 14.7	$ 99.0	$ 168.3	$ (46.7)	$ (30.0)	$ 6.9

Consolidated Statement of Shareholders' Equity (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Treasury Stock
Purchase of treasury stock (in shares)	369,211	79,733	62,694

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OPERATING ACTIVITIES
Net income	$ 48.7	$ 46.9	$ 43.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28.7	23.2	19.2
Share-based compensation	7.3	5.8	4.7
Gain on sale of business and assets	0.0	(1.9)	(6.0)
Gain on acquisition of business	0.0	0.0	(0.6)
Deferred income taxes	2.9	0.5	(2.3)
Other	0.0	1.0	0.0
Changes in operating assets and liabilities, excluding business acquisitions:
Accounts receivable	3.8	(27.9)	8.5
Inventories and other current assets	(6.7)	(23.3)	(4.9)
Accounts payable and accrued expenses	(36.9)	27.9	(7.5)
Other	(3.1)	1.4	5.3
Net cash provided by operating activities	44.7	53.6	60.3
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(36.5)	(25.8)	(30.1)
Proceeds from sale and leaseback transactions	0.0	0.0	7.4
Proceeds from sale of assets	0.0	2.1	14.2
Business acquisitions, net of cash acquired	0.0	(72.7)	(45.8)
Net cash used by investing activities	(36.5)	(96.4)	(54.3)
FINANCING ACTIVITIES
Proceeds from term loans and other debt	2.3	14.2	0.0
Payments on term loans and other debt	(3.6)	(6.6)	(4.2)
Proceeds from revolving credit facility, net	7.9	50.3	9.1
Proceeds from capital lease credit facility, net	13.8	0.0	0.0
Other	1.2	(1.3)	0.8
Income tax effect of share-based compensation exercises and vesting	0.9	1.1	0.4
Dividend	(6.3)	(4.7)	0.0
Purchase of treasury stock	(15.5)	(4.4)	(2.2)
Net cash provided by financing activities	0.7	48.6	3.9
Effect of exchange rate changes on cash	(4.9)	(3.0)	0.9
Increase in cash and cash equivalents	4.0	2.8	10.8
Cash and cash equivalents at beginning of period	58.0	55.2	44.4
Cash and cash equivalents at end of period	62.0	58.0	55.2
Income taxes paid	19.0	25.8	25.0
Interest paid	$ 25.7	$ 24.0	$ 24.8

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Consolidation and Basis of Presentation: The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons. The Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.

Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management 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 reporting period. Actual results could differ from those estimates.

Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

Inventories: Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.



Major Classes of Inventories	December 31, 2015		December 31, 2014
	(In millions)
Finished goods	$	147.5	$	146.0
Work in process	37.4		19.8
Raw materials and supplies	64.1		72.6
Inventories, net	$	249.0	$	238.4

Other inventory items
Inventory reserves	$	29.0	$	29.9
Consigned Inventory	$	10.3	$	7.8

Property, Plant and Equipment: Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. Depreciation and amortization of fixed assets, including capital leases, is computed principally by the straight-line method based on the estimated useful lives of the assets ranging from five to 40 years for buildings, and one to 20 years for machinery and equipment.

The following table summarizes property, plant and equipment at December 31, 2015 and December 31, 2014:



	December 31, 2015		December 31, 2014
Property, plant and equipment:
Land and land improvements	$	8.5	$	7.1
Buildings	65.3		68.4
Machinery and equipment	304.6		292.6
Leased property under capital leases	16.2		0.9
Total property, plant and equipment	394.6		369.0
Less accumulated depreciation	243.3		227.9
Net property, plant and equipment	$	151.3	$	141.1

Information regarding depreciation expense of property, plant and equipment follows:



	Year Ended December 31,
	2015	2014	2013
	(In millions)
Depreciation expense	22.3	18.4	15.7

Impairment of Long-Lived Assets: We assess the recoverability of long-lived assets (excluding goodwill) and identifiable acquired intangible assets with finite useful lives, whenever impairment indicators exists. When impairment indicators exist, we measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected net future undiscounted cash flows to be generated by that asset. The amount of impairment of identifiable intangible assets with finite useful lives, if any, to be recognized is measured based on projected discounted future cash flows. We measure the amount of impairment of other long-lived assets (excluding goodwill) as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined, based on projected discounted future cash flows or appraised values. We classify long-lived assets to be disposed of other than by sale as held and used until they are disposed.

Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350, “Intangibles — Goodwill and Other” (“ASC 350”), the Company does not amortize goodwill or indefinite-lived intangible assets recorded in connection with business acquisitions.

Goodwill and indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be an indicator of impairment in accordance with ASC 350.

Goodwill is tested for impairment at the reporting unit level and is based on the net assets for each reporting unit, including goodwill and intangible assets, compared to the fair value. Our reporting units have been identified at the component level. In accordance with Accounting Standard Update (“ASU”) 2011-08, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step quantitative impairment test is unnecessary.

In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we identify and assess relevant drivers of fair value and events and circumstances that may impact the fair value and the carrying amount of the reporting unit. The identification of relevant events and circumstances and how these may impact a reporting unit’s fair value or carrying amount involve significant judgments and assumptions. The judgments and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Company-specific events and share price trends, and the assessment of whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact.

If our qualitative assessment concludes that it is more likely than not that a reporting unit's fair value is less than its carrying amount then a quantitative assessment is required. In a quantitative assessment, we use an income approach and other valuation techniques to estimate the fair value of our reporting units. Absent an indication of fair value from a potential buyer or similar specific transactions, we believe that using this methodology provides reasonable estimates of a reporting unit’s fair value. The income approach is based on projected future debt-free cash flow that is discounted to present value using factors that consider the timing and risk of the future cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting unit’s expected long-term operating and cash flow performance. This approach also mitigates most of the impact of cyclical downturns that occur in the reporting unit’s industry. The income approach is based on a reporting unit’s projection of operating results and cash flows that is discounted using a weighted-average cost of capital. The projection is based upon our best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements based on management projections. There are inherent uncertainties, however, related to these factors and to our judgment in applying them to this analysis. Nonetheless, we believe that this method provides a reasonable approach to estimate the fair value of our reporting units.

The Company completed its annual goodwill impairment test using quantitative or qualitative assessments for each year presented and confirmed no reporting unit was at risk of failing the impairment test for any periods presented herein.

Indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350. In accordance with ASU 2011-08, an entity may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying value. The Company completed its annual indefinite-lived intangible impairment assessment. As a result of this analysis, we concluded that no impairment existed.

Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is:

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 9) approximate fair value at December 31, 2015 and December 31, 2014 because of the short-term nature of these instruments. The fair values of long-term debt and pension plan assets are disclosed in Note 9 and Note 13, respectively.

The Company has not changed its valuation techniques for measuring fair value during 2015, and there were no transfers between levels during the periods presented.

Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid and accordingly records valuation allowances if, based on the weight of available evidence, it is more likely than not that some portion or all of our deferred tax assets will not be realized as required by ASC 740, “Income Taxes” (“ASC 740”).

Share-Based Compensation: The Company follows the provisions of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their grant date fair values. Compensation expense for awards with service conditions only that are subject to graded vesting is recognized on a straight-line basis over the term of the vesting period.

Under the provisions of the Company’s 2015 Equity and Incentive Compensation Plan (“2015 Plan”), which is administered by the Compensation Committee of the Company’s Board of Directors, incentive stock options, non-statutory stock options, stock appreciation rights (“SARs”), restricted share units, performance shares or stock awards may be awarded to directors and all employees of the Company and its subsidiaries. The 2015 Plan replaces in its entirety the 1998 Long-Term Incentive Plan, as amended (“1998 Plan”), but shares that remained available under the 1998 Plan were added to the aggregate share limit under that 2015 Plan. Stock options will be exercisable in whole or in installments as may be determined provided that no options will be exercisable more than ten years from date of grant. The exercise price will be the fair value at the date of grant. The aggregate number of shares of the Company’s common stock that may be awarded under the 2015 Plan is 650,000, plus the 106,806 shares that remained available for award under the 1998 Plan, all of which may be incentive stock options. No more than 400,000 shares shall be the subject of awards to any individual participant in any one calendar year.

Revenue Recognition: The Company recognizes revenue, other than from long-term contracts, when title is transferred to the customer, typically upon shipment. Revenue from long-term contracts (approximately 4% of consolidated revenue) is accounted for under the percentage of completion method, and recognized on the basis of the percentage each contract’s cost to date bears to the total estimated contract cost. We follow this method since reasonably dependable estimates of revenue and costs of a contract can be made. Revenue earned on contracts in process that are in excess of billings, is classified in unbilled contract revenues in the accompanying consolidated balance sheets. Billings that are in excess of revenues earned on contracts in process are classified in accrued expenses in the accompanying balance sheets. Our revenue recognition policies are in accordance with the SEC's Staff Accounting Bulletin No. 104, “Revenue Recognition.”

Cost of Sales: Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity.

Shipping and Handling Costs: All shipping and handling costs are included in cost of sales in the Consolidated Statements of Income.

Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectable in the future. The Company’s policy is to identify and reserve for specific collectability concerns based on customers’ financial condition and payment history as well as a general reserve based on historical trends and other information. During 2015 and 2014, we sold approximately $118.5 million and $95.0 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to provide additional financing capacity. In compliance with ASC 860, “Transfers and Servicing”, sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets and the proceeds are included in the cash flows from operating activities in the Consolidated Statements of Cash flows. In 2015 and 2014, an expense in the amount of $0.6 million and $0.5 million, respectively, related to the discount on sale of accounts receivable is recorded in the Consolidated Statements of Income.

Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. As of December 31, 2015, the Company had uncollateralized receivables with six customers in the automotive industry, each with several locations, aggregating $36.7 million, which represented approximately 18% of the Company’s trade accounts receivable. During 2015, sales to these customers amounted to approximately $315.7 million, which represented approximately 22% of the Company’s net sales.

Environmental: The Company accrues environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers and is undiscounted.

Legal Contingencies: We are involved in a variety of claims, suits, investigations and administrative proceedings with respect to commercial, premises liability, product liability, employment and environmental matters arising from the ordinary course of business. We accrue reserves for legal contingencies, on an undiscounted basis, when it is probable that we have incurred a liability and we can reasonably estimate an amount. When a single amount cannot be reasonably estimated, but the cost can be estimated within a range and when no amount within the range is a better estimate than any other amount, we accrue the minimum amount in the range. Based upon facts and information currently available, we believe the amounts reserved are adequate for such pending matters. We monitor the development of legal proceedings on a regular basis and will adjust our reserves when, and to the extent, additional information becomes available.

Foreign Currency Translation: The functional currency for a majority of subsidiaries outside the United States is the local currency. Financial statements for these subsidiaries are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates for revenues and expenses. The resulting translation adjustments are recorded in accumulated comprehensive income (loss) in shareholders’ equity.

Weighted-Average Number of Shares Used in Computing Earnings Per Share: The following table sets forth the weighted-average number of shares used in the computation of earnings per share:



	Year Ended December 31,
	2015	2014	2013
	(In whole shares)
Weighted average basic shares outstanding	12,215,425	12,097,018	11,936,772
Plus dilutive impact of employee stock awards	167,526	279,058	295,393
Weighted average diluted shares outstanding	12,382,951	12,376,076	12,232,165

Earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average basic shares outstanding. Diluted earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average diluted shares outstanding.

Earnings from discontinued operations per common share is computed as income from discontinued operations, net of taxes divided by the weighted average basic shares outstanding. Diluted earnings from discontinued operations per common share is computed as income from discontinued operations, net of taxes divided by the weighted average diluted shares outstanding.

Total basic earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average basic shares outstanding. Total diluted earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average diluted shares outstanding.

Outstanding stock options with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted earnings per share. For the year ended December 31, 2015 and 2014, the anti-dilutive shares were insignificant.

Accounting Pronouncements Adopted

In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” the adoption of which is reflected in the accompanying Consolidated Balance Sheets. The provisions were adopted on a prospective basis. Based on the new accounting guidance, all deferred tax amounts are classified as long-term in 2015.

Recent Accounting Pronouncements Not Yet Adopted

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance.

In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs." The amendment requires an entity to present debt issuance costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. In August 2015, the FASB issued an amendment to this standard to address line of credit arrangements, which would allow an entity to present debt issuance costs as an asset and subsequently amortize the debt issuance costs ratably over the term of the line of credit arrangement. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied retrospectively to each prior period presented. The new guidance will only impact the presentation of the Company's financial position and is not expected to materially affect the Company's results of operations or other financial statement disclosures.

In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." The amendment requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. This ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance.

In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied prospectively, and the impact of adoption will be dependent on the nature of measurement period adjustments that may be necessary.

In January 2016, the FASB issued ASU 2016-1, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The Board also is addressing measurement of credit losses on financial assets in a separate project. This ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is not permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance.

In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The amendment establishes a comprehensive new lease accounting model. The new standard: (a) clarifies the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and (c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease-term of more than twelve months. This ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. The Company is currently evaluating the impact of adopting this guidance.

Segments

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segments

The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. Supply Technologies provides our customers with Total Supply Management™ services for a broad range of high-volume, specialty production components. Total Supply Management™ manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation, and includes such services as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing services and ongoing technical support. Assembly Components manufactures cast aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems, fuel filler and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck and marine equipment industries. Assembly Components also provides value-added services such as design and engineering, machining and assembly. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of high quality products engineered for specific customer applications.

The Company primarily evaluates performance and allocates resources based on segment operating income as well as projected future performance. Segment operating income is defined as revenues less expenses identifiable to the product lines included within each segment. Segment operating income reconciles to consolidated income from continuing operations before income taxes by deducting corporate costs, which includes, but is not limited to executive compensation, corporate office costs and other income or expense items that are not attributed to the segments and net interest expense.

Results by reportable segment were as follows:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Net sales:
Supply Technologies	$	578.7		$	559.6		$	471.9
Assembly Components	569.2			490.5			412.8
Engineered Products	315.9			328.6			318.5
	$	1,463.8		$	1,378.7		$	1,203.2
Segment operating income:
Supply Technologies	$	50.3		$	42.5		$	35.0
Assembly Components	57.9			42.0			31.8
Engineered Products	20.9			42.7			47.1
Total segment operating income	129.1			127.2			113.9
Corporate costs	(29.0		)	(29.3		)	(23.1		)
Litigation judgment and settlement costs	(2.2		)	—			(5.2		)
Gain on acquisition of business	—			—			0.6
Interest expense	(27.9		)	(26.1		)	(25.9		)
Income from continuing operations before income taxes	$	70.0		$	71.8		$	60.3



	Year Ended December 31,
	2015		2014		2013
	(In millions)
Identifiable assets:
Supply Technologies	$	276.3	$	277.6	$	241.7
Assembly Components	344.8		340.5		276.7
Engineered Products	243.1		246.9		183.1
General corporate	82.4		109.2		117.2
	$	946.6	$	974.2	$	818.7
Depreciation and amortization expense:
Supply Technologies	$	4.7	$	4.5	$	3.0
Assembly Components	18.6		14.2		11.6
Engineered Products	4.2		3.3		3.4
General corporate	1.2		1.2		1.2
	$	28.7	$	23.2	$	19.2
Capital expenditures:
Supply Technologies	$	3.7	$	5.8	$	3.8
Assembly Components	27.3		14.0		21.5
Engineered Products	5.5		2.4		3.6
General corporate	—		1.5		1.2
	$	36.5	$	23.7	$	30.1

The percentage of net sales by product line included in each segment was as follows:



	Year Ended December 31,
	2015		2014		2013
Supply Technologies:
Supply Technologies	87	%	88	%	87	%
Engineered specialty products	13	%	12	%	13	%
	100	%	100	%	100	%
Assembly Components:
Fluid routing	50	%	49	%	54	%
Aluminum products	41	%	43	%	37	%
Rubber and plastics	7	%	6	%	7	%
Screw products	2	%	2	%	2	%
	100	%	100	%	100	%
Engineered Products:
Industrial equipment business	81	%	78	%	77	%
Forged and machined products	19	%	22	%	23	%
	100	%	100	%	100	%

The Company’s approximate percentage of net sales by geographic region was as follows:



	Year Ended December 31,
	2015		2014		2013
United States	72	%	74	%	74	%
Asia	8	%	6	%	6	%
Europe	7	%	6	%	5	%
Canada	6	%	7	%	8	%
Mexico	6	%	5	%	5	%
Other	1	%	2	%	2	%
	100	%	100	%	100	%

The basis for attributing revenue to individual geographic regions is final shipping destination.

At December 31, 2015, 2014 and 2013, approximately 71%, 72% and 77%, respectively, of the Company’s assets were maintained in the United States.

- Definition

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.

+ References

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+ Details

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions In December 2014, the Company acquired all the outstanding capital stock of Saet S.p.A. (“Saet”) for $22.1 million in cash. Saet is a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee. The financial results of Saet are included in the Company's Engineered Products segment from the date of acquisition. Saet's sales for the year ended December 31, 2013 were approximately $35.9 million. The acquisition of Saet was accounted for under the acquisition method of accounting. At December 31, 2014, the fair values of the assets acquired and liabilities assumed were preliminarily estimated based on their carrying values and the excess consideration of $23.2 million was preliminarily recorded as goodwill due to the proximity of the acquisition to the year-end date and pending finalization of the fair value. These preliminary estimates were revised during the measurement period in 2015 as all pertinent information regarding finalization of the third-party valuations for inventories, intangible assets, goodwill, tangible assets, other liabilities and deferred income tax assets and liabilities acquired were fully evaluated by the Company. Based on the final purchase price allocation, goodwill of $16.9 million and intangible assets of $13.4 million was recorded. In October 2014, the Company acquired all the outstanding capital stock of Autoform Tool and Manufacturing (“Autoform”) for a total purchase consideration of $48.9 million in cash. The acquisition was funded from borrowings under the revolving credit facility provided by the Credit Agreement. Autoform is a supplier of high pressure fuel lines and fuel rails used in Gasoline Direct Injection systems across a large number of engine platforms. Autoform's production facilities are located in Indiana. The financial results of Autoform are included in the Company's Assembly Components segment from the date of acquisition. In June 2014, the Company acquired all the outstanding capital stock of Apollo Aerospace Group (“Apollo”) for $6.5 million, net of cash acquired. Apollo is a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide. The financial results of Apollo are included in the Company's Supply Technologies segment from the date of acquisition. The acquisitions of Autoform and Apollo were accounted for under the acquisition method of accounting. The purchase price allocations were preliminary as of December 31, 2014. The Apollo purchase agreement provides payment of contingent consideration of up to $2.4 million based on achievement of certain EBITDA targets over two years. The fair value of the earn-out, valued using level 3 inputs, was approximately $1.1 million at the date of the acquisition for a total purchase consideration of $6.5 million and as of December 31, 2015, the fair value of the earn-out was approximately $2.1 million. The contingent consideration, if earned, would be paid in the third quarter of 2016. Based on the purchase price allocation for these acquisitions, goodwill of $5.7 million and was recorded. Intangible assets of $3.0 million were recorded for Apollo and $25.5 million were recorded for Autoform. In November 2013, the Company acquired all the outstanding capital stock of QEF Global Limited (“QEF”). QEF is a provider of supply chain management solutions with four locations throughout Ireland, Scotland and England. In October 2013, the Company acquired all of the outstanding capital stock of Henry Halstead Ltd. (“Henry Halstead”). Henry Halstead is a provider of supply chain management solutions throughout the United Kingdom and Ireland. The Company paid $24.2 million (net of cash acquired) in the aggregate for QEF and Henry Halstead. QEF and Henry Halstead are included in our Supply Technologies segment from their respective dates of acquisition. Based on the final purchase price allocations for these acquisitions, goodwill of $7.9 million and intangible assets of $12.7 million was recorded. During August 2013, the Company acquired certain assets and liabilities of a small business, which resulted in a pre-tax gain of $0.6 million during the third quarter of 2013. The small business is engaged in the business of designing, manufacturing, selling, distributing and installing various tube bending machines and related tooling, spare and replacement parts and ancillary services for commercial applications. The small business is included in our Engineered Products segment from the date of acquisition. The purchase price was not significant to the results of operations, financial condition or liquidity. In April 2013, the Company acquired certain assets and assumed specific liabilities relating to Bates Rubber Inc. (“Bates”) for a total purchase price of $20.8 million in cash. The acquisition was funded from borrowings under the revolving credit facility provided by the Credit Agreement. Bates is a leading manufacturer of extruded, formed and molded products and assemblies for the transportation and industrial markets. Bates’ production facilities are located in Tennessee. The financial results of Bates are included in the Company’s Assembly Components segment and had insignificant revenues and net income from the date acquired. The acquisition was accounted for under the acquisition method of accounting. Based on the final purchase price allocation, goodwill of $5.0 million and intangibles assets of $5.9 million was recorded.

- Definition

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).

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+ Details

Dispositions

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

On September 3, 2013, the Company sold all of the outstanding equity interests of a non-core business unit in the Supply Technologies segment for $8.5 million in cash. This business unit is a provider of high-quality machine to machine information technology solutions, products and services. As a result of the sale, this business unit has been removed from the Supply Technologies segment and presented as a discontinued operation for all of the periods presented. Select financial information included in discontinued operations were as follows:



	Year Ended December 31,
	2013
Net sales	$	5.2

Loss from discontinued operations before tax	$	(1.3	)
Income tax benefit from operations	0.5
Net loss from discontinued operations	(0.8		)

Gain on sale of business before tax	5.3
Income tax expense from gain on sale of business	(1.5		)
Net gain on sale of business	3.8
Income from discontinued operations, net of taxes	$	3.0

On August 1, 2013, the Company sold 25% of its Southwest Steel Processing LLC ("SSP") business to Arkansas Steel Associates, LLC for $5.0 million in cash. SSP is included in our Engineered Products segment. This transaction facilitates the Company's capacity expansion in one of its growing product lines.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

+ Details

Goodwill

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2015, 2014 and 2013 were as follows:



	Supply Technologies			Assembly Components		Engineered Products			Total
	(In millions)
Balance at January 1, 2013	$	—		$	44.8	$	4.9		$	49.7
Acquisitions	6.2			4.2		—			10.4
Foreign currency translation	0.2			—		0.1			0.3
Balance at December 31, 2013	6.4			49.0		5.0			60.4
Acquisitions	0.7			5.0		23.2			28.9
Foreign currency translation	0.5			—		(0.3		)	0.2
Balance at December 31, 2014	7.6			54.0		27.9			89.5
Acquisitions	—			0.1		(6.3		)	(6.2		)
Foreign currency translation	(0.4		)	—		(0.9		)	(1.3		)
Balance at December 31, 2015	$	7.2		$	54.1	$	20.7		$	82.0

The decrease in goodwill from December 31, 2014 is primarily due to measurement period adjustments to the valuation of the Saet acquisition from 2014. The 2014 consolidated financial statements have not been retroactively adjusted as these measurement period adjustments did not have a material impact on such statements.

The increase in goodwill from December 31, 2013 is due to the acquisitions of Apollo in the second quarter of 2014 and Autoform and Saet in the fourth quarter of 2014. Apollo is included in the Supply Technologies reportable segment, Autoform is included in the Assembly Components reportable segment and Saet is included in the Engineered Products reportable segment. The goodwill associated with the Autoform transaction is deductible for income tax purposes. The goodwill associated with the Apollo and Saet transactions is not deductible for income tax purposes.

The increase in goodwill from January 1, 2013 to December 31, 2013 is due to the acquisitions of Bates in the second quarter of 2013 and Henry Halstead and QEF in the fourth quarter of 2013. Bates is included in the Assembly Components reportable segment and Henry Halstead and QEF are included in the Supply Technologies reportable segment. The goodwill associated with the Bates transaction is deductible for income tax purposes. The goodwill associated with the Henry Halstead and QEF transactions is not deductible for income tax purposes.

Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Information regarding other intangible assets as of December 31, 2015 and December 31, 2014 follows:



	December 31, 2015							December 31, 2014
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	12.0	$	76.0	$	18.5	$	57.5	$	77.3	$	13.2	$	64.1
Indefinite-lived tradenames	*	18.7		*		18.7		14.0		*		14.0
Technology	18.9	15.9		0.9		15.0		8.2		0.1		8.1
Other	8.7	4.1		2.5		1.6		4.1		2.2		1.9
Total		$	114.7	$	21.9	$	92.8	$	103.6	$	15.5	$	88.1

* Not meaningful, tradenames have an indefinite life.

Information regarding amortization expense of other intangible assets follows:



	Year Ended December 31,
	2015		2014		2013
	(In millions)
Amortization expense	$	6.4	$	4.8	$	3.5

Amortization expense for the five years subsequent to December 31, 2015 follows:



	(In millions)
2016	$	6.3
2017	$	6.2
2018	$	6.1
2019	$	5.6
2020	$	5.5

Other Long-Term Assets

12 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Long-Term Assets

Other assets consist of the following:



	December 31,
	2015		2014
	(In millions)
Pension assets	$	58.9	$	64.6
Deferred financing costs, net	4.5		5.1
Other	7.5		3.6
Total	$	70.9	$	73.3

Accrued Expenses

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses and other current liabilities consist of the following:



	December 31,
	2015		2014
	(In millions)
Accrued salaries, wages and benefits	$	26.1	$	25.4
Advance billings	16.8		28.4
Current portion of long-term debt	17.8		9.4
Warranty accrual	6.1		6.9
Interest payable	5.7		5.2
Current portion of other post-retirement liabilities	1.4		1.6
Other	21.6		26.7
Total	$	95.5	$	103.6

Substantially all advance billings relate to the Company’s industrial equipment business unit. Warranty liabilities are primarily associated with the Company’s industrial equipment business unit and the fluid routing solutions business.

The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance. The following table presents the changes in the Company’s product warranty liability for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	6.9		$	5.4		$	6.9
Claims paid during the year	(4.7		)	(2.9		)	(6.4		)
Warranty expense	4.0			4.0			4.9
Acquired warranty liabilities	(0.1		)	0.4			—
Balance at December 31,	$	6.1		$	6.9		$	5.4

Financing Arrangements

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Financing Arrangements

Long-term debt consists of the following:



					Carrying Value at
	Issuance Date	Maturity Date	Interest Rate at December 31, 2015		December 31, 2015		December 31, 2014
					(In millions)
Senior Notes	April 1, 2011	April 1, 2021	8.125	%	$	250.0	$	250.0
Revolving credit	—	July 31, 2019	2.09	%	169.0		162.0
Term loan	—	July 31, 2019	2.38	%	27.9		28.8
Other, including capital leases	Various	Various	Various		21.2		3.0
Total debt					468.1		443.8
Less current maturities					17.8		9.4
Total long-term debt, net of current portion					$	450.3	$	434.4

On August 13, 2015, the Company entered into a capital lease agreement (the “Lease Agreement”). The Lease Agreement provides the Company up to $50.0 million for capital leases. See Note 12 for additional disclosure.

On July 31, 2014, the Company entered into a sixth amendment and restatement of the credit agreement (the “Amended Credit Agreement”). The Amended Credit Agreement, among other things, increases the revolving credit facility to $230.0 million, provides a term loan for $16.1 million and extends the maturity date of the borrowings under the Amended Credit Agreement to July 31, 2019. The revolving credit facility includes a Canadian sub-limit of $15.0 million and a European sub-limit of $10.0 million (which may be increased to $25.0 million) for borrowings in those locations.

The Amended Credit Agreement was further amended in accordance with Amendments No. 1, 2 and 3 to the Amended Credit Agreement, dated October 24, 2014, January 20, 2015 and March 12, 2015, respectively (the “Amendments”). The Amendments:


•	increases the revolving credit facility from $230.0 million to $275.0 million;


•	increases the inventory advance rate from 50% to 60%, reducing back to 50% on a pro-rata quarterly basis over 36 months commencing April 1, 2015;


•	reloads the term loan up to $35.0 million from $15.5 million, of which $27.9 million has been borrowed and is outstanding as of December 31, 2015;


•	increases the Canadian sub-limit up to $25.0 million from $15.0 million;


•	increases the European sub-limit up to $25.0 million from $10.0 million; and


•	provides minor pricing adjustments including pricing the first $22.0 million drawn on the revolver at LIBOR + 3.50%, reducing automatically on a pro-rata quarterly basis over 36 months commencing April 1, 2015.

At the Company’s election, domestic amounts borrowed under the revolving credit facility may be borrowed at either:

•LIBOR plus 1.5% to 2.5%; or

•the bank’s prime lending rate minus 0.25% to 1.25%.

At the Company's election, amounts borrowed under the term loan may be borrowed at either:

•LIBOR plus 2.0% to 3.0%; or

•the bank’s prime lending rate minus 0.75% to plus 0.25%.

The LIBOR-based interest rate is dependent on the Company’s debt service coverage ratio, as defined in the Amended Credit Agreement.

Amounts borrowed under the Canadian revolving credit facility provided by the Amended Credit Agreement may be borrowed at either:

•the Canadian deposit offered rate plus 1.5% to 2.5%;

•the Canadian prime lending rate plus 0.0% to 1.0%; or

•the US base rate plus 0.0% to 1.0%.

Under the Amended Credit Agreement, a detailed borrowing base formula provides borrowing availability to the Company based on percentages of eligible accounts receivable and inventory. The term loan is amortized based on a seven-year schedule with the balance due at maturity (July 31, 2019). The Amended Credit Agreement also reduced the commitment fee for the revolving credit facility. Additionally, the Company has the option, pursuant to the Amended Credit Agreement, to increase the availability under the revolving credit facility by $25.0 million.

On April 7, 2011, the Company completed the sale of $250.0 million in the aggregate principal amount of 8.125% senior notes due 2021 (the "Notes"). The Notes bear an interest rate of 8.125% per annum, payable semi-annually in arrears on April 1 and October 1 of each year. The Notes mature on April 1, 2021.

At December 31, 2015, in addition to amounts borrowed under the revolving credit facility, there was $21.4 million outstanding for standby letters of credit.

At December 31, 2015, the Company had approximately $69.3 million of unused borrowing capacity under the revolving credit facility.

The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2015 and December 31, 2014. The fair value was estimated using quoted market prices.



	December 31, 2015		December 31, 2014
	(In millions)
Carrying amount	$	250.0	$	250.0
Fair value	$	263.4	$	266.3

Maturities of long-term debt, excluding capital leases, during each of the five years subsequent to December 31, 2015 are as follows:



	(In millions)
2016	$	13.4
2017	$	12.7
2018	$	7.0
2019	$	167.2
2020	$	—

Foreign subsidiaries of the Company had $0.8 million of borrowings at December 31, 2015 and zero at December 31, 2014 and outstanding bank guarantees of approximately $3.9 million and $5.2 million at December 31, 2015 and 2014, respectively, under their credit arrangements.

The Notes are general unsecured senior obligations of the Company and are fully and unconditionally guaranteed on a joint and several basis by all material 100% owned domestic subsidiaries of the Company. Provisions of the indenture governing the Notes and the Credit Agreement contain restrictions on the Company’s ability to incur additional indebtedness, to create liens or other encumbrances, to make certain payments, investments, loans and guarantees and to sell or otherwise dispose of a substantial portion of assets or to merge or consolidate with an unaffiliated entity. At December 31, 2015, the Company was in compliance with all financial covenants of the Credit Agreement.

The weighted average interest rate on all debt was 5.47% at December 31, 2015 and 5.62% at December 31, 2014.

On October 21, 2015, the Company, through its Southwest Steel Processing LLC subsidiary, entered into a financing agreement with the Arkansas Development Finance Authority. The agreement provides the Company the ability to borrow up to $11.0 million for expansion of its manufacturing facility in Arkansas. The loan matures in September 2025. The Company has no borrowings under this agreement as of December 31, 2015.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income from continuing operations before income tax expense consists of the following:



	Year Ended December 31,
	2015		2014		2013
	(In millions)
United States	$	44.0	$	53.1	$	48.4
Outside the United States	26.0		18.7		11.9
	$	70.0	$	71.8	$	60.3

Income taxes consisted of the following:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Current expense:
Federal	$	11.7		$	17.4		$	16.0
State	0.7			0.8			1.5
Foreign	6.0			6.2			4.2
	18.4			24.4			21.7
Deferred expense (benefit):
Federal	2.7			1.0			1.2
State	0.6			(0.8		)	(2.6		)
Foreign	(0.4		)	0.3			(0.9		)
	2.9			0.5			(2.3		)
Income tax expense	$	21.3		$	24.9		$	19.4

The reasons for the difference between income tax expense and the amount computed by applying the statutory federal income tax rate to income from continuing operations before income taxes for the years ended December 31, 2015, 2014 and 2013 are as follows:



	Year Ended December 31,
Rate Reconciliation	2015			2014			2013
	(In millions)
Tax at statutory rate	$	24.5		$	25.1		$	21.1
Effect of state income taxes, net	0.6			1.4			1.1
Effect of foreign operations	(1.6		)	(0.9		)	(0.2		)
Valuation allowance	(0.7		)	(1.1		)	(1.6		)
Non-deductible items	1.7			1.8			0.7
Manufacturer's deduction	(1.1		)	(1.4		)	(1.4		)
Other, net	(2.1		)	—			(0.3		)
Total	$	21.3		$	24.9		$	19.4

Significant components of the Company’s net deferred tax assets and liabilities are as follows:



	Year Ended December 31,
	2015			2014
	(In millions)
Deferred tax assets:
Postretirement benefit obligation	$	4.8		$	6.2
Inventory	12.0			13.7
Net operating loss and credit carryforwards	6.1			6.3
Warranty reserve	1.9			2.5
Accrued litigation	2.9			1.9
Compensation	6.0			6.0
Other	11.0			10.6
Total deferred tax assets	44.7			47.2
Deferred tax liabilities:
Depreciation and amortization	15.2			13.2
Pension	21.0			23.3
Goodwill	2.5			2.7
Intangible assets	16.8			14.5
Other	1.6			1.4
Total deferred tax liabilities	57.1			55.1
Net deferred tax liabilities prior to valuation allowances	(12.4		)	(7.9		)
Valuation allowances	(4.8		)	(7.1		)
Net deferred tax liability	$	(17.2	)	$	(15.0	)

At December 31, 2015, the Company has U.S., state and foreign net operating loss carryforwards for income tax purposes. The foreign net operating loss carryforward is $18.1 million, of which $4.6 million expires between 2016 and 2035 and the remainder has no expiration date. The Company has a tax benefit from a state net operating loss carryforward of $2.2 million that expires between 2016 and 2035. The Company also has a tax benefit from a non-consolidated U.S. net operating loss carryforward of $0.7 million that expires in 2035.

As of December 31, 2015 and 2014, the Company was not in a cumulative three-year loss position and it was determined that it was more likely than not that its U.S. deferred tax assets will be realized. As of December 31, 2014, the Company reversed a valuation allowance of $1.3 million against its state net operating loss carryforward. As of December 31, 2015 and 2014, the Company recorded valuation allowances of $4.2 million and $6.9 million, respectively, against certain foreign net deferred tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income (including reversals of deferred tax liabilities). The Company reviews all valuation allowances related to deferred tax assets and will reverse these valuation allowances, partially or totally, when appropriate under ASC 740.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2015			2014			2013
	(In millions)
Unrecognized Tax Benefit — January 1,	$	6.5		$	5.9		$	6.1
Gross Increases — Tax Positions in Prior Period	0.3			0.8			0.4
Gross Decreases — Tax Positions in Prior Period	(0.1		)	(0.2		)	(0.6		)
Lapse of Statute of Limitations	(0.4		)	—			—
Unrecognized Tax Benefit — December 31,	$	6.3		$	6.5		$	5.9

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $5.5 million at December 31, 2015 and $5.4 million at December 31, 2014. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the year ended December 31, 2015 and 2014, the Company recognized approximately $0.2 million and $0.3 million, respectively, in net interest and penalties. The Company had approximately $1.9 million and $1.7 million for the payment of interest and penalties accrued at December 31, 2015 and 2014, respectively. It is reasonably possible that within the next twelve months the amount of gross unrecognized tax benefits could be reduced by approximately $3.0 million as a result of the revaluation of expiring uncertain tax positions arising from the closure of tax statutes.

The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The Company’s tax years for 2012 through 2015 remain open for examination by the Internal Revenue Service and 2011 through 2015 remain open for examination by various state and foreign taxing authorities.

Deferred taxes have not been provided on approximately $91.2 million of undistributed earnings of the Company’s foreign subsidiaries as it is the Company’s policy and intent to permanently reinvest such earnings. The Company has determined that it is not practicable to determine the unrecognized tax liability on such undistributed earnings.

Share-Based Compensation

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

A summary of stock option activity as of December 31, 2015 and changes during the year then ended is presented below:



	2015
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in whole shares)					(in millions)
Outstanding — beginning of year	143,500		$	16.76
Granted	—		—
Exercised	(83,500	)	14.86
Canceled or expired	—		—
Outstanding — end of year	60,000		$	19.41	1.9	$	1.0
Options exercisable	60,000		$	19.41	1.9	$	1.0

Exercise prices for options outstanding as of December 31, 2015 range from $15.61 to $24.92. The number of options outstanding and exercisable at December 31, 2015, which correspond with this range is 60,000.

The total intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013 was $3.3 million, $0.1 million and $1.1 million, respectively. Net cash proceeds from the exercise of stock options were $1.2 million, $0.0 million and $0.4 million, respectively.

There were no stock options awarded in 2015, 2014 and 2013.

A summary of restricted share and performance share activity for the year ended December 31, 2015 is as follows:



	2015
	Time-Based				Performance-Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
	(in whole shares)				(in whole shares)
Outstanding — beginning of year	344,932		$	33.55	28,000		$	20.30
Granted	72,500		44.26		120,000		48.72
Vested	(179,167	)	32.93		(14,000	)	20.30
Canceled or expired	(29,836	)	41.92		(14,000	)	20.30
Outstanding — end of year	208,429		$	36.61	120,000		$	48.72

The Company recognized compensation expense of $7.3 million, $5.8 million and $4.7 million for the years ended December 31, 2015, 2014 and 2013, respectively, relating to restricted shares and performance shares.

The total fair value of restricted stock units vested during the years ended December 31, 2015, 2014 and 2013 was $9.0 million, $11.5 million and $6.1 million, respectively.

For awards that vest based on a service condition only, the Company recognizes compensation cost of share-based awards as expense on a straight-line basis over the vesting period of the awards. Compensation cost of the performance-based awards is recognized as expense using the accelerated attribution method over the vesting periods of the awards.

As of December 31, 2015, the Company had unrecognized compensation expense of $10.5 million, before taxes, related to stock option awards and restricted shares. The unrecognized compensation expense is expected to be recognized over a total weighted average period of 1.7 years.

The number of shares available for future grants for all plans at December 31, 2015 is 590,033.

Commitments, Contingencies and Litigation Judgment

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Litigation Judgment

The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. Although the Company cannot precisely predict the amount of any liability that may ultimately arise with respect to any of these matters, the Company records provisions when it considers the liability probable and reasonably estimable. Our provisions are based on historical experience and legal advice, reviewed quarterly and adjusted according to developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments about potential actions by third parties, such as regulators, courts, and state and federal legislatures. Changes in the amounts of our loss provisions, which can be material, affect our financial condition. Due to the inherent uncertainties in the process undertaken to estimate potential losses, we are unable to estimate an additional range of loss in excess of our accruals. While it is reasonably possible that such excess liabilities, if they were to occur, could be material to operating results in any given quarter or year of their recognition, we do not believe that it is reasonably possible that such excess liabilities would have a material adverse effect on our long-term results of operations, liquidity or consolidated financial position.

Our subsidiaries are involved in a number of contractual and warranty related disputes. At this time, we cannot reasonably determine the probability of a loss, and the timing and amount of loss, if any, cannot be reasonably estimated. We believe that appropriate liabilities for these contingencies have been recorded; however, actual results may differ materially from our estimates.

IPSCO Tubulars Inc. d/b/a TMK IPSCO sued Ajax Tocco Magnethermic Corporation (“ATM”), a subsidiary of Park-Ohio Holdings Corporation, in the United States District Court for the Eastern District of Arkansas claiming that equipment supplied by ATM for heat treating certain steel pipe at IPSCO's Blytheville, Arkansas facility did not perform as required by the contract. The complaint alleged causes of action for breach of contract, gross negligence and constructive fraud. IPSCO sought approximately $10 million in damages plus an unspecified amount of punitive damages. ATM denied the allegations. ATM subsequently obtained summary judgment on the constructive fraud claim, which was dismissed by the district court prior to trial. The remaining claims were the subject of a bench trial that occurred in May 2013. After IPSCO presented its case, the district court entered partial judgment in favor of ATM, dismissing the gross negligence claim, a portion of the breach of contract claim, and any claim for punitive damages. The trial proceeded with respect to the remainder of IPSCO's claim for breach of contract. In September 2013, the district court issued a judgment in favor of IPSCO in the amount of $5.2 million, which the Company recognized and accrued for at that time. IPSCO subsequently filed a motion seeking to recover $3.8 million in attorneys' fees and costs. The district court reserved ruling on that issue pending an appeal. In October 2013, ATM filed an appeal with the U.S. Court of Appeals for the Eighth Circuit seeking reversal of the judgment in favor of IPSCO. In November 2013, IPSCO filed a cross-appeal seeking reversal of the dismissal of its claim for gross negligence and punitive damages. The Eighth Circuit issued an opinion in March 2015 affirming in part, reversing in part, and remanding the case. It affirmed the district court's determination that ATM was liable for breach of contract. It also affirmed the district court's dismissal of IPSCO's claim for gross negligence and punitive damages. However, the Eighth Circuit reversed nearly all of the damages awarded by the district court and remanded for further findings on the issue of damages, including whether consequential damages are barred under the express language of the contract. Because IPSCO did not appeal the award of $5.2 million in its favor, those damages could be decreased, but could not be increased, on remand. On remand, the district court entered an order once again awarding IPSCO $5.2 million in damages. In December 2015, ATM filed a second appeal with the Eighth Circuit seeking reversal of the damages award. In March 2016, the district court issued an order granting, in part, IPSCO's motion for fees and costs and awarding $2.2 million to IPSCO. ATM expects to appeal that decision.

In August 2013, the Company received a subpoena from the staff of the SEC in connection with the staff’s investigation of a third party. At that time, the Company also learned that the Department of Justice (“DOJ”) is conducting a criminal investigation of the third party. In connection with its initial response to the staff’s subpoena, the Company disclosed to the staff of the SEC that, in November 2007, the third party participated in a payment on behalf of the Company to a foreign tax official that implicates the Foreign Corrupt Practices Act (“FCPA”).

The Board of Directors of the Company has formed a special committee to review the Company’s transactions with the third party and to make any recommendations to the Board of Directors with respect thereto.

The Company intends to cooperate fully with the SEC and the DOJ in connection with their investigations of the third party and with the SEC in light of the Company’s disclosure. The Company is unable to predict the outcome or impact of the special committee’s investigation or the length, scope or results of the SEC’s review or the impact on its results of operations.

Leases

Future minimum lease commitments during each of the five years following December 31, 2015 and thereafter are as follows:



	(In millions)
	Capital Leases		Operating leases
2016	$	4.9	$	14.5
2017	3.7		11.0
2018	3.6		7.6
2019	3.6		4.4
2020	3.0		2.9
Thereafter	—		5.1
Total minimum lease payments	18.8		$	45.5
Amounts representing interest	1.1
Present value of minimum lease payments	17.7
Current maturities	4.4
Long-term capital lease obligation	$	13.3

Rental expense for 2015, 2014 and 2013 was $19.7 million, $18.6 million and $17.6 million, respectively.

Certain of the Company’s leases are with related parties at an annual rental expense of approximately $2.4 million. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.

During the year ended December 31, 2013, we entered into sales leaseback transactions for certain equipment. No gains or losses resulted from these transactions and the leases are being accounted for as operating leases.

Assets recorded under capital leases are included in property, plant and equipment and consist of the following:



	December 31, 2015
Machinery and equipment	$	16.2
Less accumulated depreciation	0.5
	$	15.7

Amortization of machinery and equipment under capital leases is included in depreciation expense. Capital lease obligations of $17.7 million were borrowed from the $50.0 million Lease Agreement to acquire machinery and equipment during 2015.

Pensions and Postretirement Benefits

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Pensions and Postretirement Benefits

The Company and its subsidiaries have pension plans, principally noncontributory defined benefit or noncontributory defined contribution plans, covering substantially all employees. In addition, the Company has an unfunded postretirement benefit plan. In April 2011, the Company amended one of its plans to cover most U.S. employees not covered by collective bargaining agreements using a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits that are based upon a percentage of current eligible earnings and current interest credits. For the remaining defined benefit plans, benefits are based on the employee’s years of service. For the defined contribution plans, the costs charged to operations and the amount funded are based upon a percentage of the covered employees’ compensation.

The Company's objective for the pension plan is to monitor the funded ratio, create general investment goals in regards to acceptable risk and liquidity needs ensuring the long-term interests of participants and beneficiaries are considered and manage risk by minimizing the short-term and long-term risk of actual expenses and contribution requirements.

The following tables set forth the change in benefit obligation, plan assets, funded status and amounts recognized in the consolidated balance sheet for the defined benefit pension and postretirement benefit plans as of December 31, 2015 and 2014:



	Pension Benefits						Postretirement Benefits
	2015			2014			2015			2014
	(In millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	61.1		$	52.1		$	17.0		$	16.2
Service cost	2.6			2.2			—			—
Interest cost	2.3			2.2			0.5			0.6
Actuarial (gains) losses	(3.0		)	8.8			(2.7		)	1.9
Plan amendment	—			0.4			—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.6		)	(1.3		)	(1.7		)
Benefit obligation at end of year	$	58.4		$	61.1		$	13.5		$	17.0
Change in plan assets
Fair value of plan assets at beginning of year	$	125.7		$	125.4		$	—		$	—
Actual return on plan assets	(2.9		)	5.8			—			—
Company contributions	—			—			1.3			1.7
Cash transfer to fund postretirement benefit payments	(0.9		)	(0.9		)	—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.6		)	(1.3		)	(1.7		)
Fair value of plan assets at end of year	$	117.3		$	125.7		$	—		$	—
Funded (underfunded) status of the plans	$	58.9		$	64.6		$	(13.5	)	$	(17.0	)

Amounts recognized in the consolidated balance sheets consist of:



	Pension Benefits				Postretirement Benefits
	2015		2014		2015			2014
	(In millions)
Noncurrent assets	$	58.9	$	64.6	$	—		$	—
Noncurrent liabilities	—		—		12.1			15.4
Current liabilities	—		—		1.4			1.6
	$	58.9	$	64.6	$	13.5		$	17.0
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	25.2	$	15.3	$	4.4		$	7.6
Net prior service cost (credit)	0.3		0.4		(0.3		)	(0.4		)
Accumulated other comprehensive loss	$	25.5	$	15.7	$	4.1		$	7.2

As of December 31, 2015 and 2014, the Company’s defined benefit pension plans did not hold a material amount of shares of the Company’s common stock.

The pension plan weighted-average asset allocation at December 31, 2015 and 2014 and target allocation for 2016 are as follows:



		Plan Assets
	Target 2016	2015		2014
Asset Category
Equity securities	45-75%	62.7	%	64.6	%
Debt securities	20-40	25.4	%	27.9	%
Other	0-20	11.9	%	7.5	%
	100%	100	%	100	%

The following table sets forth, by level within the fair value hierarchy, the pension plans assets:



	2015								2014
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In millions)
Collective trust and pooled insurance funds:
Common stock	$	38.3	$	1.5	$	—	$	39.8	$	45.6	$	2.2	$	—	$	47.8
Equity Funds	29.1		—		—		29.1		29.0		—		—		29.0
Foreign Stock	5.7		—		—		5.7		5.4		—		—		5.4
U.S. Government obligations	7.4		—		—		7.4		7.0		—		—		7.0
Fixed income funds	14.6		—		—		14.6		19.6		—		—		19.6
Corporate Bonds	6.8		—		—		6.8		7.5		—		—		7.5
Cash and Cash Equivalents	1.2		—		—		1.2		1.8		—		—		1.8
Hedge funds	—		—		12.7		12.7		—		—		7.6		7.6
	$	103.1	$	1.5	$	12.7	$	117.3	$	115.9	$	2.2	$	7.6	$	125.7

The following table presents a reconciliation of Level 3 assets, as defined in Note 1, held during the years ended December 31, 2015 and 2014.



	Balance at Beginning of Year		Net Unrealized Gain		Purchases		Balance at End of Year
	(In millions)
Hedge Funds:
2015	$	7.6	$	0.1	$	5.0	$	12.7
2014	$	7.3	$	0.3	$	—	$	7.6

The following tables summarize the assumptions used in the valuation of pension and postretirement benefit obligations at December 31, and to measure the net periodic benefit cost in the following year.



	Weighted-Average assumptions as of December 31,
	Pension Benefits						Postretirement Benefits
	2015		2014		2013		2015		2014		2013
Discount rate	4.13	%	3.82	%	4.51	%	3.80	%	3.60	%	4.21	%
Expected return on plan assets	8.25	%	8.25	%	8.25	%	N/A		N/A		N/A
Rate of compensation increase	3.00	%	3.00	%	2.00	%	N/A		N/A		N/A
Medical health care benefits rate increase	N/A		N/A		N/A		6.75	%	7.00	%	6.50	%
Medical drug benefits rate increase	N/A		N/A		N/A		6.75	%	7.00	%	6.50	%
Ultimate health care cost trend rate	N/A		N/A		N/A		5.00	%	5.00	%	5.00	%
Year of ultimate trend rate	N/A		N/A		N/A		2022		2022		2042

In determining its expected return on plan assets assumption for the year ended December 31, 2015, the Company considered historical experience, its asset allocation, expected future long-term rates of return for each major asset class, and an assumed long-term inflation rate. Based on these factors, the Company derived an expected return on plan assets for the year ended December 31, 2015 of 8.25%. This assumption was supported by the asset return generation model, which projected future asset returns using simulation and asset class correlation.



	Pension Benefits									Postretirement Benefits
	2015			2014			2013			2015			2014			2013
	(In millions)
Components of net periodic benefit cost
Service costs	$	2.6		$	2.2		$	2.6		$	—		$	—		$	0.1
Interest costs	2.3			2.2			2.0			0.6			0.6			0.6
Expected return on plan assets	(10.2		)	(10.1		)	(8.9		)	—			—			—
Amortization of prior service cost (credit)	—			0.1			—			(0.1		)	(0.1		)	(0.1		)
Recognized net actuarial loss	0.3			—			0.8			0.5			0.5			0.7
Benefit (income) costs	$	(5.0	)	$	(5.6	)	$	(3.5	)	$	1.0		$	1.0		$	1.3
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	$	15.7		$	2.2		$	20.3		$	7.2		$	5.8		$	7.6
Net loss (gain) arising during the year	10.1			13.1			(17.3		)	(2.7		)	1.8			(1.2		)
Recognition of prior service credit	—			—			—			0.1			0.1			0.1
Recognition of actuarial loss	(0.3		)	0.4			(0.8		)	(0.5		)	(0.5		)	(0.7		)
Total recognized in accumulated other comprehensive loss at end of year	$	25.5		$	15.7		$	2.2		$	4.1		$	7.2		$	5.8

The estimated net loss, prior service cost and net transition obligation for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the year ending December 31, 2016 is $1.1 million.

The estimated net loss and prior service cost for the postretirement plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the year ending December 31, 2016 is $0.3 million.

Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years:



			Postretirement Benefits
	Pension Benefits		Gross		Expected Medicare Subsidy		Net including Medicare Subsidy
	(In millions)
2016	$	4.2	$	1.6	$	0.1	$	1.5
2017	4.5		1.5		0.1		1.4
2018	4.3		1.4		0.1		1.3
2019	4.3		1.3		0.1		1.2
2020	4.5		1.2		0.1		1.1
2021 to 2025	22.9		5.2		0.5		4.7

The Company has a postretirement benefit plan. Under the plan, health care benefits are provided on both a contributory and noncontributory basis. The assumed health care cost trend rate has a significant effect on the amounts reported. A one-percentage-point change in the assumed health care cost trend rate would have the following effects:



	1-Percentage Point Increase		1-Percentage Point Decrease
	(In millions)
Effect on total of service and interest cost components in 2015	$	—	$	—
Effect on postretirement benefit obligation as of December 31, 2015	$	1.0	$	(0.9	)

The Company expects to make no contributions to its defined benefit plans in 2016.

In January 2008, a Supplemental Executive Retirement Plan (“SERP”) for the Company’s Chairman of the Board of Directors and Chief Executive Officer (“CEO”) was approved by the Compensation Committee of the Board of Directors of the Company. The SERP provides an annual supplemental retirement benefit for up to $0.4 million upon the CEO’s termination of employment with the Company. The vested retirement benefit will be equal to a percentage of the Supplemental Pension that is equal to the ratio of the sum of his credited service with the Company prior to January 1, 2008 (up to a maximum of thirteen years), and his credited service on or after January 1, 2008 (up to a maximum of seven years) to twenty years of credited service. In the event of a change in control before the CEO’s termination of employment, he will receive 100% of the Supplemental Pension. The Company recorded an expense of $0.6 million in 2015, $0.5 million in 2014 and $0.5 million in 2013 related to the SERP. Additionally, a non-qualified defined contribution retirement benefit was also approved in which the Company will credit $0.1 million quarterly ($0.4 million annually) for a seven-year period to an account in which the CEO will always be 100% vested. The seven year period began on March 31, 2008.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2015, 2014, and 2013 were as follows:



	Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
	(In millions)
Balance at January 1, 2013	$	5.4		$	(12.2	)	$	(6.8	)
Foreign currency translation adjustments (a)	(2.6		)	—			(2.6		)
Pension and OPEB activity, net	—			19.9			19.9
Tax adjustment (b)	—			(7.1		)	(7.1		)
Pension and OPEB activity, net of taxes	—			12.8			12.8
Balance at December 31, 2013	2.8			0.6			3.4
Foreign currency translation adjustments (a)	(7.9		)	—			(7.9		)
Pension and OPEB activity, net	—			(14.9		)	(14.9		)
Tax adjustment (b)	—			5.4			5.4
Pension and OPEB activity, net of taxes	—			(9.5		)	(9.5		)
Balance at December 31, 2014	(5.1		)	(8.9		)	(14.0		)
Foreign currency translation adjustments (a)	(11.8		)	—			(11.8		)
Pension and OPEB activity, net	—			(6.7		)	(6.7		)
Tax adjustment (b)	—			2.5			2.5
Pension and OPEB activity, net of taxes	—			(4.2		)	(4.2		)
Balance at December 31, 2015	$	(16.9	)	$	(13.1	)	$	(30.0	)


(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.


(b)	The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 1, 2016, the Company's Board of Directors declared a quarterly dividend of $0.125 per common share. The dividend was paid on February 29, 2016, to shareholders of record as of the close of business on February 15, 2016 and resulted in a cash outlay of approximately $1.5 million. As discussed in Note 12, on March 7, 2016 the United States District Court for the Eastern District of Arkansas issued an order granting, in part, IPSCO's motion for fees and costs and awarding $2.2 million to IPSCO, which the Company accrued for as of December 31, 2015. ATM expects to appeal that decision.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



	Quarter Ended
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,
	(Dollars in millions, except per share data)
2015
Net sales	$	374.7		$	377.3		$	364.4		$	347.4
Gross profit	58.4			60.4			62.3			54.1
Net income	11.1			12.6			13.2			11.8
Net income attributable to noncontrolling interest	(0.3		)	(0.2		)	—			(0.1		)
Net income attributable to ParkOhio common shareholders	$	10.8		$	12.4		$	13.2		$	11.7
Earnings per common share attributable to ParkOhio common shareholders:
Basic	$	0.89		$	1.02		$	1.07		$	0.96
Diluted	$	0.87		$	1.00		$	1.06		$	0.95
Cash dividends per common share	$	0.125		$	0.125		$	0.125		$	0.125
2014
Net sales	$	317.8		$	343.3		$	344.6		$	373.0
Gross profit	56.0			61.0			60.6			56.9
Net income	10.3			12.9			12.5			11.2
Net income attributable to noncontrolling interest	—			(0.5		)	(0.1		)	(0.5		)
Net income attributable to ParkOhio common shareholders	$	10.1		$	12.4		$	12.4		$	10.7
Earnings per common share attributable to ParkOhio common shareholders:
Basic	$	0.84		$	1.02		$	1.02		$	0.88
Diluted	$	0.82		$	1.00		$	1.00		$	0.86
Cash dividends per common share	$	—		$	0.125		$	0.125		$	0.125


Note A —	On March 7, 2016 the United States District Court for the Eastern District of Arkansas issued an order granting, in part, IPSCO's motion for fees and costs and awarding $2.2 million to IPSCO, which the Company accrued for as of December 31, 2015.


Note B —	On June 10, 2014, the Company completed the acquisition of Apollo, a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide and is included in our Supply Technologies segment.


Note C —	On October 10, 2014, the Company completed the acquisition of Autoform, a supplier of high end pressure fuel lines used in gasoline direct injection systems across a large number of engine platforms and is included in our Assembly Components segment.


Note D —	On December 4, 2014, the Company completed the acquisition of Saet, a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions. Saet is included in our Engineered Products segment.

Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts and Reserves

Schedule II

PARK-OHIO HOLDINGS CORP.

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES



Description	Balance at Beginning of Period		Charged to Costs and Expenses			Deductions and Other				Balance at End of Period
	(In millions)
Year Ended December 31, 2015:
Allowances deducted from assets:
Trade receivable allowances	$	4.1	$	0.4		$	(1.2	)	(A)	$	3.3
Inventory obsolescence reserve	29.9		4.2			(5.1		)	(B)	29.0
Tax valuation allowances	7.1		(0.7		)	(1.6		)	(C)	4.8
Year Ended December 31, 2014:
Allowances deducted from assets:
Trade receivable allowances	$	3.7	$	0.3		$	0.1		(A)	$	4.1
Inventory obsolescence reserve	28.4		8.4			(6.9		)	(B)	29.9
Tax valuation allowances	2.6		(1.1		)	5.6			(C)	7.1
Year Ended December 31, 2013:
Allowances deducted from assets:
Trade receivable allowances	$	3.5	$	1.8		$	(1.6	)	(A)	$	3.7
Inventory obsolescence reserve	27.2		9.4			(8.2		)	(B)	28.4
Tax valuation allowances	4.2		(1.6		)	—				2.6
Year Ended December 31, 2012:
Allowances deducted from assets:
Trade receivable allowances	$	5.5	$	1.8		$	(3.8	)	(A)	$	3.5
Inventory obsolescence reserve	24.9		11.6			(9.3		)	(B)	27.2
Tax valuation allowances	4.4		(0.2		)	—				4.2

Note (A)- Uncollectable accounts written off, net of recoveries.

Note (B)- Amounts written off, net of acquired reserves.

Note (C)- Amounts accounted for under the acquisition method of accounting.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	Consolidation and Basis of Presentation: The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons. The Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.
Accounting Estimates	Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management 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 reporting period. Actual results could differ from those estimates.
Cash Equivalents	Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Inventories	Inventories: Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized and expenditures for repairs and maintenance are charged to operations as incurred. Depreciation and amortization of fixed assets, including capital leases, is computed principally by the straight-line method based on the estimated useful lives of the assets ranging from five to 40 years for buildings, and one to 20 years for machinery and equipment.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: We assess the recoverability of long-lived assets (excluding goodwill) and identifiable acquired intangible assets with finite useful lives, whenever impairment indicators exists. When impairment indicators exist, we measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected net future undiscounted cash flows to be generated by that asset. The amount of impairment of identifiable intangible assets with finite useful lives, if any, to be recognized is measured based on projected discounted future cash flows. We measure the amount of impairment of other long-lived assets (excluding goodwill) as the amount by which the carrying value of the asset exceeds the fair value of the asset, which is generally determined, based on projected discounted future cash flows or appraised values. We classify long-lived assets to be disposed of other than by sale as held and used until they are disposed.
Goodwill and Indefinite-Lived Assets	Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350, “Intangibles — Goodwill and Other” (“ASC 350”), the Company does not amortize goodwill or indefinite-lived intangible assets recorded in connection with business acquisitions. Goodwill and indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be an indicator of impairment in accordance with ASC 350. Goodwill is tested for impairment at the reporting unit level and is based on the net assets for each reporting unit, including goodwill and intangible assets, compared to the fair value. Our reporting units have been identified at the component level. In accordance with Accounting Standard Update (“ASU”) 2011-08, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step quantitative impairment test is unnecessary. In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we identify and assess relevant drivers of fair value and events and circumstances that may impact the fair value and the carrying amount of the reporting unit. The identification of relevant events and circumstances and how these may impact a reporting unit’s fair value or carrying amount involve significant judgments and assumptions. The judgments and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Company-specific events and share price trends, and the assessment of whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact. If our qualitative assessment concludes that it is more likely than not that a reporting unit's fair value is less than its carrying amount then a quantitative assessment is required. In a quantitative assessment, we use an income approach and other valuation techniques to estimate the fair value of our reporting units. Absent an indication of fair value from a potential buyer or similar specific transactions, we believe that using this methodology provides reasonable estimates of a reporting unit’s fair value. The income approach is based on projected future debt-free cash flow that is discounted to present value using factors that consider the timing and risk of the future cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting unit’s expected long-term operating and cash flow performance. This approach also mitigates most of the impact of cyclical downturns that occur in the reporting unit’s industry. The income approach is based on a reporting unit’s projection of operating results and cash flows that is discounted using a weighted-average cost of capital. The projection is based upon our best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements based on management projections. There are inherent uncertainties, however, related to these factors and to our judgment in applying them to this analysis. Nonetheless, we believe that this method provides a reasonable approach to estimate the fair value of our reporting units. The Company completed its annual goodwill impairment test using quantitative or qualitative assessments for each year presented and confirmed no reporting unit was at risk of failing the impairment test for any periods presented herein. Indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350. In accordance with ASU 2011-08, an entity may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying value. The Company completed its annual indefinite-lived intangible impairment assessment. As a result of this analysis, we concluded that no impairment existed.
Fair Values of Financial Instruments	Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 9) approximate fair value at December 31, 2015 and December 31, 2014 because of the short-term nature of these instruments. The fair values of long-term debt and pension plan assets are disclosed in Note 9 and Note 13, respectively. The Company has not changed its valuation techniques for measuring fair value during 2015, and there were no transfers between levels during the periods presented.
Income Taxes	Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid and accordingly records valuation allowances if, based on the weight of available evidence, it is more likely than not that some portion or all of our deferred tax assets will not be realized as required by ASC 740, “Income Taxes” (“ASC 740”).
Share-Based Compensation	Share-Based Compensation: The Company follows the provisions of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their grant date fair values. Compensation expense for awards with service conditions only that are subject to graded vesting is recognized on a straight-line basis over the term of the vesting period. Under the provisions of the Company’s 2015 Equity and Incentive Compensation Plan (“2015 Plan”), which is administered by the Compensation Committee of the Company’s Board of Directors, incentive stock options, non-statutory stock options, stock appreciation rights (“SARs”), restricted share units, performance shares or stock awards may be awarded to directors and all employees of the Company and its subsidiaries. The 2015 Plan replaces in its entirety the 1998 Long-Term Incentive Plan, as amended (“1998 Plan”), but shares that remained available under the 1998 Plan were added to the aggregate share limit under that 2015 Plan. Stock options will be exercisable in whole or in installments as may be determined provided that no options will be exercisable more than ten years from date of grant. The exercise price will be the fair value at the date of grant. The aggregate number of shares of the Company’s common stock that may be awarded under the 2015 Plan is 650,000, plus the 106,806 shares that remained available for award under the 1998 Plan, all of which may be incentive stock options. No more than 400,000 shares shall be the subject of awards to any individual participant in any one calendar year.
Revenue Recognition	Revenue Recognition: The Company recognizes revenue, other than from long-term contracts, when title is transferred to the customer, typically upon shipment. Revenue from long-term contracts (approximately 4% of consolidated revenue) is accounted for under the percentage of completion method, and recognized on the basis of the percentage each contract’s cost to date bears to the total estimated contract cost. We follow this method since reasonably dependable estimates of revenue and costs of a contract can be made. Revenue earned on contracts in process that are in excess of billings, is classified in unbilled contract revenues in the accompanying consolidated balance sheets. Billings that are in excess of revenues earned on contracts in process are classified in accrued expenses in the accompanying balance sheets.
Cost of Sales	Cost of Sales: Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity.
Shipping and Handling Costs	Shipping and Handling Costs: All shipping and handling costs are included in cost of sales in the Consolidated Statements of Income.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectable in the future. The Company’s policy is to identify and reserve for specific collectability concerns based on customers’ financial condition and payment history as well as a general reserve based on historical trends and other information. During 2015 and 2014, we sold approximately $118.5 million and $95.0 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to provide additional financing capacity. In compliance with ASC 860, “Transfers and Servicing”, sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets and the proceeds are included in the cash flows from operating activities in the Consolidated Statements of Cash flows. In 2015 and 2014, an expense in the amount of $0.6 million and $0.5 million, respectively, related to the discount on sale of accounts receivable is recorded in the Consolidated Statements of Income.
Concentration of Credit Risk	Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. As of December 31, 2015, the Company had uncollateralized receivables with six customers in the automotive industry, each with several locations, aggregating $36.7 million, which represented approximately 18% of the Company’s trade accounts receivable. During 2015, sales to these customers amounted to approximately $315.7 million, which represented approximately 22% of the Company’s net sales.
Environmental	Environmental: The Company accrues environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers and is undiscounted.
Legal Contingencies	Legal Contingencies: We are involved in a variety of claims, suits, investigations and administrative proceedings with respect to commercial, premises liability, product liability, employment and environmental matters arising from the ordinary course of business. We accrue reserves for legal contingencies, on an undiscounted basis, when it is probable that we have incurred a liability and we can reasonably estimate an amount. When a single amount cannot be reasonably estimated, but the cost can be estimated within a range and when no amount within the range is a better estimate than any other amount, we accrue the minimum amount in the range. Based upon facts and information currently available, we believe the amounts reserved are adequate for such pending matters. We monitor the development of legal proceedings on a regular basis and will adjust our reserves when, and to the extent, additional information becomes available.
Foreign Currency Translation	Foreign Currency Translation: The functional currency for a majority of subsidiaries outside the United States is the local currency. Financial statements for these subsidiaries are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates for revenues and expenses. The resulting translation adjustments are recorded in accumulated comprehensive income (loss) in shareholders’ equity.
Earnings Per Share	Earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average basic shares outstanding. Diluted earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average diluted shares outstanding. Earnings from discontinued operations per common share is computed as income from discontinued operations, net of taxes divided by the weighted average basic shares outstanding. Diluted earnings from discontinued operations per common share is computed as income from discontinued operations, net of taxes divided by the weighted average diluted shares outstanding. Total basic earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average basic shares outstanding. Total diluted earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average diluted shares outstanding. Outstanding stock options with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted earnings per share. For the year ended December 31, 2015 and 2014, the anti-dilutive shares were insignificant.
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Accounting Pronouncements Adopted In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” the adoption of which is reflected in the accompanying Consolidated Balance Sheets. The provisions were adopted on a prospective basis. Based on the new accounting guidance, all deferred tax amounts are classified as long-term in 2015. Recent Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance. In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs." The amendment requires an entity to present debt issuance costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. In August 2015, the FASB issued an amendment to this standard to address line of credit arrangements, which would allow an entity to present debt issuance costs as an asset and subsequently amortize the debt issuance costs ratably over the term of the line of credit arrangement. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied retrospectively to each prior period presented. The new guidance will only impact the presentation of the Company's financial position and is not expected to materially affect the Company's results of operations or other financial statement disclosures. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." The amendment requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. This ASU is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. This ASU is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The new guidance will be applied prospectively, and the impact of adoption will be dependent on the nature of measurement period adjustments that may be necessary. In January 2016, the FASB issued ASU 2016-1, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The Board also is addressing measurement of credit losses on financial assets in a separate project. This ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is not permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The amendment establishes a comprehensive new lease accounting model. The new standard: (a) clarifies the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and (c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease-term of more than twelve months. This ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. The Company is currently evaluating the impact of adopting this guidance.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Major Classes of Inventories

Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.



Major Classes of Inventories	December 31, 2015		December 31, 2014
	(In millions)
Finished goods	$	147.5	$	146.0
Work in process	37.4		19.8
Raw materials and supplies	64.1		72.6
Inventories, net	$	249.0	$	238.4

Other inventory items
Inventory reserves	$	29.0	$	29.9
Consigned Inventory	$	10.3	$	7.8

Property, Plant and Equipment

The following table summarizes property, plant and equipment at December 31, 2015 and December 31, 2014:



	December 31, 2015		December 31, 2014
Property, plant and equipment:
Land and land improvements	$	8.5	$	7.1
Buildings	65.3		68.4
Machinery and equipment	304.6		292.6
Leased property under capital leases	16.2		0.9
Total property, plant and equipment	394.6		369.0
Less accumulated depreciation	243.3		227.9
Net property, plant and equipment	$	151.3	$	141.1

Schedule of Depreciation Expense

Information regarding depreciation expense of property, plant and equipment follows:



	Year Ended December 31,
	2015	2014	2013
	(In millions)
Depreciation expense	22.3	18.4	15.7

Weighted-Average Number of Shares Used in Computing Earnings Per Share

The following table sets forth the weighted-average number of shares used in the computation of earnings per share:



	Year Ended December 31,
	2015	2014	2013
	(In whole shares)
Weighted average basic shares outstanding	12,215,425	12,097,018	11,936,772
Plus dilutive impact of employee stock awards	167,526	279,058	295,393
Weighted average diluted shares outstanding	12,382,951	12,376,076	12,232,165

Segments (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Results by business segment

Results by reportable segment were as follows:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Net sales:
Supply Technologies	$	578.7		$	559.6		$	471.9
Assembly Components	569.2			490.5			412.8
Engineered Products	315.9			328.6			318.5
	$	1,463.8		$	1,378.7		$	1,203.2
Segment operating income:
Supply Technologies	$	50.3		$	42.5		$	35.0
Assembly Components	57.9			42.0			31.8
Engineered Products	20.9			42.7			47.1
Total segment operating income	129.1			127.2			113.9
Corporate costs	(29.0		)	(29.3		)	(23.1		)
Litigation judgment and settlement costs	(2.2		)	—			(5.2		)
Gain on acquisition of business	—			—			0.6
Interest expense	(27.9		)	(26.1		)	(25.9		)
Income from continuing operations before income taxes	$	70.0		$	71.8		$	60.3



	Year Ended December 31,
	2015		2014		2013
	(In millions)
Identifiable assets:
Supply Technologies	$	276.3	$	277.6	$	241.7
Assembly Components	344.8		340.5		276.7
Engineered Products	243.1		246.9		183.1
General corporate	82.4		109.2		117.2
	$	946.6	$	974.2	$	818.7
Depreciation and amortization expense:
Supply Technologies	$	4.7	$	4.5	$	3.0
Assembly Components	18.6		14.2		11.6
Engineered Products	4.2		3.3		3.4
General corporate	1.2		1.2		1.2
	$	28.7	$	23.2	$	19.2
Capital expenditures:
Supply Technologies	$	3.7	$	5.8	$	3.8
Assembly Components	27.3		14.0		21.5
Engineered Products	5.5		2.4		3.6
General corporate	—		1.5		1.2
	$	36.5	$	23.7	$	30.1

Percentage of net sales by product line

The percentage of net sales by product line included in each segment was as follows:



	Year Ended December 31,
	2015		2014		2013
Supply Technologies:
Supply Technologies	87	%	88	%	87	%
Engineered specialty products	13	%	12	%	13	%
	100	%	100	%	100	%
Assembly Components:
Fluid routing	50	%	49	%	54	%
Aluminum products	41	%	43	%	37	%
Rubber and plastics	7	%	6	%	7	%
Screw products	2	%	2	%	2	%
	100	%	100	%	100	%
Engineered Products:
Industrial equipment business	81	%	78	%	77	%
Forged and machined products	19	%	22	%	23	%
	100	%	100	%	100	%

Approximate percentage of net sales by geographic region

The Company’s approximate percentage of net sales by geographic region was as follows:



	Year Ended December 31,
	2015		2014		2013
United States	72	%	74	%	74	%
Asia	8	%	6	%	6	%
Europe	7	%	6	%	5	%
Canada	6	%	7	%	8	%
Mexico	6	%	5	%	5	%
Other	1	%	2	%	2	%
	100	%	100	%	100	%

Dispositions (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Select Financial Information Included in Discontinued Operations

Select financial information included in discontinued operations were as follows:



	Year Ended December 31,
	2013
Net sales	$	5.2

Loss from discontinued operations before tax	$	(1.3	)
Income tax benefit from operations	0.5
Net loss from discontinued operations	(0.8		)

Gain on sale of business before tax	5.3
Income tax expense from gain on sale of business	(1.5		)
Net gain on sale of business	3.8
Income from discontinued operations, net of taxes	$	3.0

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 205
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Topic 360
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

+ Details

Goodwill (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2015, 2014 and 2013 were as follows:



	Supply Technologies			Assembly Components		Engineered Products			Total
	(In millions)
Balance at January 1, 2013	$	—		$	44.8	$	4.9		$	49.7
Acquisitions	6.2			4.2		—			10.4
Foreign currency translation	0.2			—		0.1			0.3
Balance at December 31, 2013	6.4			49.0		5.0			60.4
Acquisitions	0.7			5.0		23.2			28.9
Foreign currency translation	0.5			—		(0.3		)	0.2
Balance at December 31, 2014	7.6			54.0		27.9			89.5
Acquisitions	—			0.1		(6.3		)	(6.2		)
Foreign currency translation	(0.4		)	—		(0.9		)	(1.3		)
Balance at December 31, 2015	$	7.2		$	54.1	$	20.7		$	82.0

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of finite-lived intangible assets

Information regarding other intangible assets as of December 31, 2015 and December 31, 2014 follows:



	December 31, 2015							December 31, 2014
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	12.0	$	76.0	$	18.5	$	57.5	$	77.3	$	13.2	$	64.1
Indefinite-lived tradenames	*	18.7		*		18.7		14.0		*		14.0
Technology	18.9	15.9		0.9		15.0		8.2		0.1		8.1
Other	8.7	4.1		2.5		1.6		4.1		2.2		1.9
Total		$	114.7	$	21.9	$	92.8	$	103.6	$	15.5	$	88.1

* Not meaningful, tradenames have an indefinite life.

Schedule of indefinite-lived intangible assets

Information regarding other intangible assets as of December 31, 2015 and December 31, 2014 follows:



	December 31, 2015							December 31, 2014
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	12.0	$	76.0	$	18.5	$	57.5	$	77.3	$	13.2	$	64.1
Indefinite-lived tradenames	*	18.7		*		18.7		14.0		*		14.0
Technology	18.9	15.9		0.9		15.0		8.2		0.1		8.1
Other	8.7	4.1		2.5		1.6		4.1		2.2		1.9
Total		$	114.7	$	21.9	$	92.8	$	103.6	$	15.5	$	88.1

* Not meaningful, tradenames have an indefinite life.

Schedule of amortization of intangible assets

Information regarding amortization expense of other intangible assets follows:



	Year Ended December 31,
	2015		2014		2013
	(In millions)
Amortization expense	$	6.4	$	4.8	$	3.5

Amortization for the next five years

Amortization expense for the five years subsequent to December 31, 2015 follows:



	(In millions)
2016	$	6.3
2017	$	6.2
2018	$	6.1
2019	$	5.6
2020	$	5.5

Other Long-Term Assets (Tables)

12 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other long-term assets

Other assets consist of the following:



	December 31,
	2015		2014
	(In millions)
Pension assets	$	58.9	$	64.6
Deferred financing costs, net	4.5		5.1
Other	7.5		3.6
Total	$	70.9	$	73.3

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accrued expenses

Accrued expenses and other current liabilities consist of the following:



	December 31,
	2015		2014
	(In millions)
Accrued salaries, wages and benefits	$	26.1	$	25.4
Advance billings	16.8		28.4
Current portion of long-term debt	17.8		9.4
Warranty accrual	6.1		6.9
Interest payable	5.7		5.2
Current portion of other post-retirement liabilities	1.4		1.6
Other	21.6		26.7
Total	$	95.5	$	103.6

Changes in product warranty liability

The following table presents the changes in the Company’s product warranty liability for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Balance at January 1,	$	6.9		$	5.4		$	6.9
Claims paid during the year	(4.7		)	(2.9		)	(6.4		)
Warranty expense	4.0			4.0			4.9
Acquired warranty liabilities	(0.1		)	0.4			—
Balance at December 31,	$	6.1		$	6.9		$	5.4

Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Long-term debt

Long-term debt consists of the following:



					Carrying Value at
	Issuance Date	Maturity Date	Interest Rate at December 31, 2015		December 31, 2015		December 31, 2014
					(In millions)
Senior Notes	April 1, 2011	April 1, 2021	8.125	%	$	250.0	$	250.0
Revolving credit	—	July 31, 2019	2.09	%	169.0		162.0
Term loan	—	July 31, 2019	2.38	%	27.9		28.8
Other, including capital leases	Various	Various	Various		21.2		3.0
Total debt					468.1		443.8
Less current maturities					17.8		9.4
Total long-term debt, net of current portion					$	450.3	$	434.4

Fair Value of Debt

The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2015 and December 31, 2014. The fair value was estimated using quoted market prices.



	December 31, 2015		December 31, 2014
	(In millions)
Carrying amount	$	250.0	$	250.0
Fair value	$	263.4	$	266.3

Maturities of Long-term Debt

Maturities of long-term debt, excluding capital leases, during each of the five years subsequent to December 31, 2015 are as follows:



	(In millions)
2016	$	13.4
2017	$	12.7
2018	$	7.0
2019	$	167.2
2020	$	—

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income from continuing operations before income tax expense

Income from continuing operations before income tax expense consists of the following:



	Year Ended December 31,
	2015		2014		2013
	(In millions)
United States	$	44.0	$	53.1	$	48.4
Outside the United States	26.0		18.7		11.9
	$	70.0	$	71.8	$	60.3

Income Taxes

Income taxes consisted of the following:



	Year Ended December 31,
	2015			2014			2013
	(In millions)
Current expense:
Federal	$	11.7		$	17.4		$	16.0
State	0.7			0.8			1.5
Foreign	6.0			6.2			4.2
	18.4			24.4			21.7
Deferred expense (benefit):
Federal	2.7			1.0			1.2
State	0.6			(0.8		)	(2.6		)
Foreign	(0.4		)	0.3			(0.9		)
	2.9			0.5			(2.3		)
Income tax expense	$	21.3		$	24.9		$	19.4

Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rates



	Year Ended December 31,
Rate Reconciliation	2015			2014			2013
	(In millions)
Tax at statutory rate	$	24.5		$	25.1		$	21.1
Effect of state income taxes, net	0.6			1.4			1.1
Effect of foreign operations	(1.6		)	(0.9		)	(0.2		)
Valuation allowance	(0.7		)	(1.1		)	(1.6		)
Non-deductible items	1.7			1.8			0.7
Manufacturer's deduction	(1.1		)	(1.4		)	(1.4		)
Other, net	(2.1		)	—			(0.3		)
Total	$	21.3		$	24.9		$	19.4

Significant components of the Company's net deferred tax assets and liabilities

Significant components of the Company’s net deferred tax assets and liabilities are as follows:



	Year Ended December 31,
	2015			2014
	(In millions)
Deferred tax assets:
Postretirement benefit obligation	$	4.8		$	6.2
Inventory	12.0			13.7
Net operating loss and credit carryforwards	6.1			6.3
Warranty reserve	1.9			2.5
Accrued litigation	2.9			1.9
Compensation	6.0			6.0
Other	11.0			10.6
Total deferred tax assets	44.7			47.2
Deferred tax liabilities:
Depreciation and amortization	15.2			13.2
Pension	21.0			23.3
Goodwill	2.5			2.7
Intangible assets	16.8			14.5
Other	1.6			1.4
Total deferred tax liabilities	57.1			55.1
Net deferred tax liabilities prior to valuation allowances	(12.4		)	(7.9		)
Valuation allowances	(4.8		)	(7.1		)
Net deferred tax liability	$	(17.2	)	$	(15.0	)

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2015			2014			2013
	(In millions)
Unrecognized Tax Benefit — January 1,	$	6.5		$	5.9		$	6.1
Gross Increases — Tax Positions in Prior Period	0.3			0.8			0.4
Gross Decreases — Tax Positions in Prior Period	(0.1		)	(0.2		)	(0.6		)
Lapse of Statute of Limitations	(0.4		)	—			—
Unrecognized Tax Benefit — December 31,	$	6.3		$	6.5		$	5.9

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity as of December 31, 2015 and changes during the year then ended is presented below:



	2015
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in whole shares)					(in millions)
Outstanding — beginning of year	143,500		$	16.76
Granted	—		—
Exercised	(83,500	)	14.86
Canceled or expired	—		—
Outstanding — end of year	60,000		$	19.41	1.9	$	1.0
Options exercisable	60,000		$	19.41	1.9	$	1.0

Summary of Restricted Share Activity

A summary of restricted share and performance share activity for the year ended December 31, 2015 is as follows:



	2015
	Time-Based				Performance-Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
	(in whole shares)				(in whole shares)
Outstanding — beginning of year	344,932		$	33.55	28,000		$	20.30
Granted	72,500		44.26		120,000		48.72
Vested	(179,167	)	32.93		(14,000	)	20.30
Canceled or expired	(29,836	)	41.92		(14,000	)	20.30
Outstanding — end of year	208,429		$	36.61	120,000		$	48.72

Commitments, Contingencies and Litigation Judgment (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Lease Commitments

Future minimum lease commitments during each of the five years following December 31, 2015 and thereafter are as follows:



	(In millions)
	Capital Leases		Operating leases
2016	$	4.9	$	14.5
2017	3.7		11.0
2018	3.6		7.6
2019	3.6		4.4
2020	3.0		2.9
Thereafter	—		5.1
Total minimum lease payments	18.8		$	45.5
Amounts representing interest	1.1
Present value of minimum lease payments	17.7
Current maturities	4.4
Long-term capital lease obligation	$	13.3

Assets Recorded Under Capital Leases

Assets recorded under capital leases are included in property, plant and equipment and consist of the following:



	December 31, 2015
Machinery and equipment	$	16.2
Less accumulated depreciation	0.5
	$	15.7

Pensions and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Summary of change in defined benefit and postretirement benefit plans



	Pension Benefits						Postretirement Benefits
	2015			2014			2015			2014
	(In millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	61.1		$	52.1		$	17.0		$	16.2
Service cost	2.6			2.2			—			—
Interest cost	2.3			2.2			0.5			0.6
Actuarial (gains) losses	(3.0		)	8.8			(2.7		)	1.9
Plan amendment	—			0.4			—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.6		)	(1.3		)	(1.7		)
Benefit obligation at end of year	$	58.4		$	61.1		$	13.5		$	17.0
Change in plan assets
Fair value of plan assets at beginning of year	$	125.7		$	125.4		$	—		$	—
Actual return on plan assets	(2.9		)	5.8			—			—
Company contributions	—			—			1.3			1.7
Cash transfer to fund postretirement benefit payments	(0.9		)	(0.9		)	—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.6		)	(1.3		)	(1.7		)
Fair value of plan assets at end of year	$	117.3		$	125.7		$	—		$	—
Funded (underfunded) status of the plans	$	58.9		$	64.6		$	(13.5	)	$	(17.0	)

Amounts recognized in the consolidated balance sheets consist of:



	Pension Benefits				Postretirement Benefits
	2015		2014		2015			2014
	(In millions)
Noncurrent assets	$	58.9	$	64.6	$	—		$	—
Noncurrent liabilities	—		—		12.1			15.4
Current liabilities	—		—		1.4			1.6
	$	58.9	$	64.6	$	13.5		$	17.0
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	25.2	$	15.3	$	4.4		$	7.6
Net prior service cost (credit)	0.3		0.4		(0.3		)	(0.4		)
Accumulated other comprehensive loss	$	25.5	$	15.7	$	4.1		$	7.2

Summary of Pension Plan Weighted-Average Asset Allocation

The pension plan weighted-average asset allocation at December 31, 2015 and 2014 and target allocation for 2016 are as follows:



		Plan Assets
	Target 2016	2015		2014
Asset Category
Equity securities	45-75%	62.7	%	64.6	%
Debt securities	20-40	25.4	%	27.9	%
Other	0-20	11.9	%	7.5	%
	100%	100	%	100	%

Schedule of Fair Value Hierarchy of Pension Plans Assets

The following table sets forth, by level within the fair value hierarchy, the pension plans assets:



	2015								2014
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In millions)
Collective trust and pooled insurance funds:
Common stock	$	38.3	$	1.5	$	—	$	39.8	$	45.6	$	2.2	$	—	$	47.8
Equity Funds	29.1		—		—		29.1		29.0		—		—		29.0
Foreign Stock	5.7		—		—		5.7		5.4		—		—		5.4
U.S. Government obligations	7.4		—		—		7.4		7.0		—		—		7.0
Fixed income funds	14.6		—		—		14.6		19.6		—		—		19.6
Corporate Bonds	6.8		—		—		6.8		7.5		—		—		7.5
Cash and Cash Equivalents	1.2		—		—		1.2		1.8		—		—		1.8
Hedge funds	—		—		12.7		12.7		—		—		7.6		7.6
	$	103.1	$	1.5	$	12.7	$	117.3	$	115.9	$	2.2	$	7.6	$	125.7

Summary of Reconciliation of Level 3 Assets Held

The following table presents a reconciliation of Level 3 assets, as defined in Note 1, held during the years ended December 31, 2015 and 2014.



	Balance at Beginning of Year		Net Unrealized Gain		Purchases		Balance at End of Year
	(In millions)
Hedge Funds:
2015	$	7.6	$	0.1	$	5.0	$	12.7
2014	$	7.3	$	0.3	$	—	$	7.6

Summary of Assumptions Used in the valuation of pension and postretirement benefit obligations



	Weighted-Average assumptions as of December 31,
	Pension Benefits						Postretirement Benefits
	2015		2014		2013		2015		2014		2013
Discount rate	4.13	%	3.82	%	4.51	%	3.80	%	3.60	%	4.21	%
Expected return on plan assets	8.25	%	8.25	%	8.25	%	N/A		N/A		N/A
Rate of compensation increase	3.00	%	3.00	%	2.00	%	N/A		N/A		N/A
Medical health care benefits rate increase	N/A		N/A		N/A		6.75	%	7.00	%	6.50	%
Medical drug benefits rate increase	N/A		N/A		N/A		6.75	%	7.00	%	6.50	%
Ultimate health care cost trend rate	N/A		N/A		N/A		5.00	%	5.00	%	5.00	%
Year of ultimate trend rate	N/A		N/A		N/A		2022		2022		2042

Summary of Components of Net Periodic Benefit Cost



	Pension Benefits									Postretirement Benefits
	2015			2014			2013			2015			2014			2013
	(In millions)
Components of net periodic benefit cost
Service costs	$	2.6		$	2.2		$	2.6		$	—		$	—		$	0.1
Interest costs	2.3			2.2			2.0			0.6			0.6			0.6
Expected return on plan assets	(10.2		)	(10.1		)	(8.9		)	—			—			—
Amortization of prior service cost (credit)	—			0.1			—			(0.1		)	(0.1		)	(0.1		)
Recognized net actuarial loss	0.3			—			0.8			0.5			0.5			0.7
Benefit (income) costs	$	(5.0	)	$	(5.6	)	$	(3.5	)	$	1.0		$	1.0		$	1.3
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	$	15.7		$	2.2		$	20.3		$	7.2		$	5.8		$	7.6
Net loss (gain) arising during the year	10.1			13.1			(17.3		)	(2.7		)	1.8			(1.2		)
Recognition of prior service credit	—			—			—			0.1			0.1			0.1
Recognition of actuarial loss	(0.3		)	0.4			(0.8		)	(0.5		)	(0.5		)	(0.7		)
Total recognized in accumulated other comprehensive loss at end of year	$	25.5		$	15.7		$	2.2		$	4.1		$	7.2		$	5.8

Summary Company's Expected Future Benefit Payments

Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years:



			Postretirement Benefits
	Pension Benefits		Gross		Expected Medicare Subsidy		Net including Medicare Subsidy
	(In millions)
2016	$	4.2	$	1.6	$	0.1	$	1.5
2017	4.5		1.5		0.1		1.4
2018	4.3		1.4		0.1		1.3
2019	4.3		1.3		0.1		1.2
2020	4.5		1.2		0.1		1.1
2021 to 2025	22.9		5.2		0.5		4.7

Summary of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rate

A one-percentage-point change in the assumed health care cost trend rate would have the following effects:



	1-Percentage Point Increase		1-Percentage Point Decrease
	(In millions)
Effect on total of service and interest cost components in 2015	$	—	$	—
Effect on postretirement benefit obligation as of December 31, 2015	$	1.0	$	(0.9	)

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Changes in accumulated comprehensive income (loss)

The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2015, 2014, and 2013 were as follows:



	Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
	(In millions)
Balance at January 1, 2013	$	5.4		$	(12.2	)	$	(6.8	)
Foreign currency translation adjustments (a)	(2.6		)	—			(2.6		)
Pension and OPEB activity, net	—			19.9			19.9
Tax adjustment (b)	—			(7.1		)	(7.1		)
Pension and OPEB activity, net of taxes	—			12.8			12.8
Balance at December 31, 2013	2.8			0.6			3.4
Foreign currency translation adjustments (a)	(7.9		)	—			(7.9		)
Pension and OPEB activity, net	—			(14.9		)	(14.9		)
Tax adjustment (b)	—			5.4			5.4
Pension and OPEB activity, net of taxes	—			(9.5		)	(9.5		)
Balance at December 31, 2014	(5.1		)	(8.9		)	(14.0		)
Foreign currency translation adjustments (a)	(11.8		)	—			(11.8		)
Pension and OPEB activity, net	—			(6.7		)	(6.7		)
Tax adjustment (b)	—			2.5			2.5
Pension and OPEB activity, net of taxes	—			(4.2		)	(4.2		)
Balance at December 31, 2015	$	(16.9	)	$	(13.1	)	$	(30.0	)


(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.


(b)	The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Data

Selected Quarterly Financial Data (Unaudited)



	Quarter Ended
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,
	(Dollars in millions, except per share data)
2015
Net sales	$	374.7		$	377.3		$	364.4		$	347.4
Gross profit	58.4			60.4			62.3			54.1
Net income	11.1			12.6			13.2			11.8
Net income attributable to noncontrolling interest	(0.3		)	(0.2		)	—			(0.1		)
Net income attributable to ParkOhio common shareholders	$	10.8		$	12.4		$	13.2		$	11.7
Earnings per common share attributable to ParkOhio common shareholders:
Basic	$	0.89		$	1.02		$	1.07		$	0.96
Diluted	$	0.87		$	1.00		$	1.06		$	0.95
Cash dividends per common share	$	0.125		$	0.125		$	0.125		$	0.125
2014
Net sales	$	317.8		$	343.3		$	344.6		$	373.0
Gross profit	56.0			61.0			60.6			56.9
Net income	10.3			12.9			12.5			11.2
Net income attributable to noncontrolling interest	—			(0.5		)	(0.1		)	(0.5		)
Net income attributable to ParkOhio common shareholders	$	10.1		$	12.4		$	12.4		$	10.7
Earnings per common share attributable to ParkOhio common shareholders:
Basic	$	0.84		$	1.02		$	1.02		$	0.88
Diluted	$	0.82		$	1.00		$	1.00		$	0.86
Cash dividends per common share	$	—		$	0.125		$	0.125		$	0.125


Note A —	On March 7, 2016 the United States District Court for the Eastern District of Arkansas issued an order granting, in part, IPSCO's motion for fees and costs and awarding $2.2 million to IPSCO, which the Company accrued for as of December 31, 2015.


Note B —	On June 10, 2014, the Company completed the acquisition of Apollo, a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide and is included in our Supply Technologies segment.


Note C —	On October 10, 2014, the Company completed the acquisition of Autoform, a supplier of high end pressure fuel lines used in gasoline direct injection systems across a large number of engine platforms and is included in our Assembly Components segment.


Note D —	On December 4, 2014, the Company completed the acquisition of Saet, a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions. Saet is included in our Engineered Products segment.

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) Customer shares	Dec. 31, 2014 USD ($)
Line of Credit Facility [Line Items]
Percentage of revenue from long-term contracts	4.00%
Sale of accounts receivable	$ 118.5	$ 95.0
Income (expense) related to discount on sale of accounts receivable	$ (0.6)	$ (0.5)
Number of customers with uncollateralized accounts receivable in automotive industry \| Customer	6
Uncollateralized accounts receivable	$ 36.7
Percentage of accounts receivable uncollateralized	18.00%
Revenue from sales to major customers	$ 315.7
Percentage of revenue from sales to major customers	22.00%
1998 Long-Term Incentive Plan
Line of Credit Facility [Line Items]
Number of shares that may be awarded \| shares	106,806
2015 Long-Term Incentive Plan
Line of Credit Facility [Line Items]
Number of shares that may be awarded \| shares	650,000
Maximum number of shares to be awarded to any individual participant in any one calendar year (no more than) \| shares	400,000
2015 Long-Term Incentive Plan \| Stock Options
Line of Credit Facility [Line Items]
Options maximum expiration period (more than)	10 years
Building \| Minimum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	5 years
Building \| Maximum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	40 years
Machinery and Equipment \| Minimum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	1 year
Machinery and Equipment \| Maximum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	20 years

Summary of Significant Accounting Policies (Major Classes of Inventories) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Major Classes of Inventories
Finished goods	$ 147.5	$ 146.0
Work in process	37.4	19.8
Raw materials and supplies	64.1	72.6
Inventories, net	249.0	238.4
Inventory reserves	29.0	29.9
Consigned Inventory	$ 10.3	$ 7.8

Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Land and land improvements	$ 8.5	$ 7.1
Buildings	65.3	68.4
Machinery and equipment	304.6	292.6
Leased property under capital leases	16.2	0.9
Total property, plant and equipment	394.6	369.0
Less accumulated depreciation	243.3	227.9
Net property, plant and equipment	$ 151.3	$ 141.1

Summary of Significant Accounting Policies (Depreciation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Depreciation expense	$ 22.3	$ 18.4	$ 15.7

Summary of Significant Accounting Policies (Weighted-Average Number of Shares Used in Computing Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Weighted average basic shares outstanding (in shares)	12,215,425	12,097,018	11,936,772
Plus dilutive impact of employee stock awards (in shares)	167,526	279,058	295,393
Weighted average diluted shares outstanding (in shares)	12,382,951	12,376,076	12,232,165

Segments (Details) - Segment	12 Months Ended
Segments (Details) - Segment	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments	3
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of assets	71.00%	72.00%	77.00%

Segments (Schedule of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net sales:
Net sales	$ 347.4	$ 364.4	$ 377.3	$ 374.7	$ 373.0	$ 344.6	$ 343.3	$ 317.8		$ 1,463.8	$ 1,378.7	$ 1,203.2
Segment operating income:
Total segment operating income										97.9	97.9	85.6
Corporate costs										(29.0)	(29.3)	(23.1)
Litigation judgment and settlement costs										(2.2)	0.0	(5.2)
Gain on acquisition of business									$ 0.6	0.0	0.0	0.6
Interest expense										(27.9)	(26.1)	(25.9)
Income from continuing operations before income taxes										70.0	71.8	60.3
Identifiable assets	946.6				974.2					946.6	974.2	818.7
Depreciation and amortization expense										28.7	23.2	19.2
Capital expenditures										36.5	23.7	30.1
Supply Technologies
Net sales:
Net sales										578.7	559.6	471.9
Segment operating income:
Total segment operating income										50.3	42.5	35.0
Identifiable assets	276.3				277.6					276.3	277.6	241.7
Depreciation and amortization expense										4.7	4.5	3.0
Capital expenditures										3.7	5.8	3.8
Assembly Components
Net sales:
Net sales										569.2	490.5	412.8
Segment operating income:
Total segment operating income										57.9	42.0	31.8
Identifiable assets	344.8				340.5					344.8	340.5	276.7
Depreciation and amortization expense										18.6	14.2	11.6
Capital expenditures										27.3	14.0	21.5
Engineered Products
Net sales:
Net sales										315.9	328.6	318.5
Segment operating income:
Total segment operating income										20.9	42.7	47.1
Identifiable assets	243.1				246.9					243.1	246.9	183.1
Depreciation and amortization expense										4.2	3.3	3.4
Capital expenditures										5.5	2.4	3.6
General Corporate
Segment operating income:
Identifiable assets	$ 82.4				$ 109.2					82.4	109.2	117.2
Depreciation and amortization expense										1.2	1.2	1.2
Capital expenditures										0.0	1.5	1.2
Operating Segments
Segment operating income:
Total segment operating income										$ 129.1	$ 127.2	$ 113.9

Segments (Percentage of Net Sales by Product Line) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Supply Technologies
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Supply Technologies \| Supply Technologies
Product Information [Line Items]
Percentage of net sales	87.00%	88.00%	87.00%
Supply Technologies \| Engineered specialty products
Product Information [Line Items]
Percentage of net sales	13.00%	12.00%	13.00%
Assembly Components
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Assembly Components \| Fluid routing
Product Information [Line Items]
Percentage of net sales	50.00%	49.00%	54.00%
Assembly Components \| Aluminum products
Product Information [Line Items]
Percentage of net sales	41.00%	43.00%	37.00%
Assembly Components \| Rubber and plastics
Product Information [Line Items]
Percentage of net sales	7.00%	6.00%	7.00%
Assembly Components \| Screw products
Product Information [Line Items]
Percentage of net sales	2.00%	2.00%	2.00%
Engineered Products
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Engineered Products \| Industrial equipment business
Product Information [Line Items]
Percentage of net sales	81.00%	78.00%	77.00%
Engineered Products \| Forged and machined products
Product Information [Line Items]
Percentage of net sales	19.00%	22.00%	23.00%

Segments (Company’s approximate percentage of net sales by geographic region) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	72.00%	74.00%	74.00%
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	8.00%	6.00%	6.00%
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	7.00%	6.00%	5.00%
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	6.00%	7.00%	8.00%
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	6.00%	5.00%	5.00%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	1.00%	2.00%	2.00%

Acquisitions (Details) $ in Millions	1 Months Ended					3 Months Ended	12 Months Ended
Acquisitions (Details) $ in Millions	Dec. 31, 2014 USD ($)	Oct. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)	Oct. 31, 2013 USD ($)	Apr. 30, 2013 USD ($)	Sep. 30, 2013 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Nov. 30, 2013 Facility	Dec. 31, 2012 USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid							$ 0.0	$ 72.7	$ 45.8
Goodwill	$ 89.5						82.0	89.5	60.4		$ 49.7
Gain on acquisition of business						$ 0.6	0.0	0.0	$ 0.6
Saet S.p.A
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues								35.9
Saet S.p.A
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid	22.1
Goodwill	$ 23.2						16.9	$ 23.2
Intangible assets							13.4
Autoform and Apollo
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill							5.7
Autoform Tool and Manufacturing
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid		$ 48.9
Intangible assets							25.5
Apollo Aerospace Group
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid			$ 6.5
Intangible assets							3.0
Contingent consideration			$ 2.4
Contingent consideration, period for targets			2 years
Contingent consideration, fair value of earn-out			$ 1.1				$ 2.1
QEF Global Limited
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Number of locations/facilities held by acquiree \| Facility										4
QEF Global Limited and Henry Halstead Ltd.
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid				$ 24.2
Goodwill				7.9
Intangible assets				$ 12.7
Bates Rubber
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid					$ 20.8
Goodwill					5.0
Intangible assets					$ 5.9

Dispositions (Details) - USD ($) $ in Millions			12 Months Ended
Dispositions (Details) - USD ($) $ in Millions	Sep. 03, 2013	Aug. 01, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Select financial information of discontinued operations:
Income from discontinued operations, net of taxes			$ 0.0	$ 0.0	$ 3.0
Southwest Steel Processing LLC
Select financial information of discontinued operations:
Sale of noncontrolling interest		25.00%
Proceeds from sale of noncontrolling interest		$ 5.0
Non-core Business Unit \| Supply Technologies \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of non-core business unit	$ 8.5
Select financial information of discontinued operations:
Net sales				5.2
Loss from discontinued operations before tax				(1.3)
Income tax benefit from operations				0.5
Net loss from discontinued operations				(0.8)
Gain on sale of business before tax				5.3
Income tax expense from gain on sale of business				(1.5)
Net gain on sale of business				3.8
Income from discontinued operations, net of taxes				$ 3.0

Goodwill (Change in Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 89.5	$ 60.4	$ 49.7
Acquisitions	(6.2)	28.9	10.4
Foreign currency translation	(1.3)	0.2	0.3
Goodwill, end of period	82.0	89.5	60.4
Supply Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	7.6	6.4	0.0
Acquisitions	0.0	0.7	6.2
Foreign currency translation	(0.4)	0.5	0.2
Goodwill, end of period	7.2	7.6	6.4
Assembly Components
Goodwill [Roll Forward]
Goodwill, beginning of period	54.0	49.0	44.8
Acquisitions	0.1	5.0	4.2
Foreign currency translation	0.0	0.0	0.0
Goodwill, end of period	54.1	54.0	49.0
Engineered Products
Goodwill [Roll Forward]
Goodwill, beginning of period	27.9	5.0	4.9
Acquisitions	(6.3)	23.2	0.0
Foreign currency translation	(0.9)	(0.3)	0.1
Goodwill, end of period	$ 20.7	$ 27.9	$ 5.0

Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details of other intangible assets
Acquisition Costs	$ 114.7	$ 103.6
Accumulated Amortization	21.9	15.5
Net	92.8	88.1
Tradenames
Details of other intangible assets
Acquisition Costs, Indefinite-lived Intangible Assets	$ 18.7	14.0
Non-contractual customer relationships
Details of other intangible assets
Weighted Average Useful Life (Years)	12 years 8 days
Acquisition Costs, Finite-lived Intangible Assets	$ 76.0	77.3
Accumulated Amortization	18.5	13.2
Net, Finite-lived Intangible Assets	$ 57.5	64.1
Technology
Details of other intangible assets
Weighted Average Useful Life (Years)	18 years 10 months 7 days
Acquisition Costs, Finite-lived Intangible Assets	$ 15.9	8.2
Accumulated Amortization	0.9	0.1
Net, Finite-lived Intangible Assets	$ 15.0	8.1
Other
Details of other intangible assets
Weighted Average Useful Life (Years)	8 years 8 months 28 days
Acquisition Costs, Finite-lived Intangible Assets	$ 4.1	4.1
Accumulated Amortization	2.5	2.2
Net, Finite-lived Intangible Assets	$ 1.6	$ 1.9

Other Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6.4	$ 4.8	$ 3.5

Other Intangible Assets (Schedule of Amortization Expense for Subsequent Years) (Details) $ in Millions	Dec. 31, 2015 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016	$ 6.3
2017	6.2
2018	6.1
2019	5.6
2020	$ 5.5

Other Long-Term Assets (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Summary of other assets
Pension assets	$ 58.9	$ 64.6
Deferred financing costs, net	4.5	5.1
Other	7.5	3.6
Total	$ 70.9	$ 73.3

Accrued Expenses (Accrued Expenses) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Summary of accrued expenses
Accrued salaries, wages and benefits	$ 26.1	$ 25.4
Advance billings	16.8	28.4
Current portion of long-term debt	17.8	9.4
Warranty accrual	6.1	6.9
Interest payable	5.7	5.2
Current portion of other post-retirement liabilities	1.4	1.6
Other	21.6	26.7
Total	$ 95.5	$ 103.6

Accrued Expenses (Schedule of Changes in Company's Product Warranty Liability) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in product warranty liability
Balance at beginning of period	$ 6.9	$ 5.4	$ 6.9
Claims paid during the year	(4.7)	(2.9)	(6.4)
Warranty expense	4.0	4.0	4.9
Acquired warranty liabilities	(0.1)	0.4	0.0
Balance at end of period	$ 6.1	$ 6.9	$ 5.4

Financing Arrangements (Details) - USD ($)	Oct. 24, 2014	Jul. 31, 2014	Dec. 31, 2015	Oct. 21, 2015	Aug. 13, 2015	Dec. 31, 2014	Oct. 23, 2014	Apr. 07, 2011
Line of Credit Facility [Line Items]
Capital lease agreement			$ 17,700,000		$ 50,000,000
Long-term debt			468,100,000			$ 443,800,000
Foreign subsidiaries borrowings			800,000			0
Foreign subsidiaries bank guarantee amount			$ 3,900,000			$ 5,200,000
Weighted average interest rate			5.47%			5.62%
Revolving credit facility
Line of Credit Facility [Line Items]
Long-term debt			$ 169,000,000			$ 162,000,000
Senior notes, interest rate			2.09%
Term Loan
Line of Credit Facility [Line Items]
Long-term debt			$ 27,900,000			28,800,000
Senior notes, interest rate			2.38%
Standby letters of credit
Line of Credit Facility [Line Items]
Amount outstanding			$ 21,400,000
8.125% senior notes due 2021
Line of Credit Facility [Line Items]
Long-term debt			$ 250,000,000			$ 250,000,000
Aggregate principal amount of debt								$ 250,000,000.0
Senior notes, interest rate			8.125%					8.125%
Credit Agreement \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 230,000,000.0
Inventory advance rate		50.00%
Term loan, period		7 years
Option to increase availability		$ 25,000,000.0
Credit Agreement \| Revolving credit facility, Canadian sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		15,000,000.0
Credit Agreement \| Revolving credit facility, European sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		10,000,000.0
Maximum borrowing capacity, potential		25,000,000.0
Credit Agreement \| Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 16,100,000.0
Credit Agreement \| LIBOR \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.50%
Credit Agreement \| LIBOR \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		2.50%
Credit Agreement \| LIBOR \| Term Loan \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		2.00%
Credit Agreement \| LIBOR \| Term Loan \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		3.00%
Credit Agreement \| Prime lending rate \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.25%
Credit Agreement \| Prime lending rate \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.25%
Credit Agreement \| Prime lending rate \| Term Loan \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.75%
Credit Agreement \| Prime lending rate \| Term Loan \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.25%
Credit Agreement \| Canadian deposit offered rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.50%
Credit Agreement \| Canadian deposit offered rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		2.50%
Credit Agreement \| Canadian prime lending rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.00%
Credit Agreement \| Canadian prime lending rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.00%
Credit Agreement \| US base rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.00%
Credit Agreement \| US base rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.00%
Amended Credit Agreement \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 275,000,000.0
Inventory advance rate	60.00%
Inventory advance rate reducing back to	50.00%
Term over which inventory advance rate reduces	36 months
Amount outstanding	$ 22,000,000
Term over which basis spread on variable rate reduces	36 months
Unused borrowing capacity			$ 69,300,000
Amended Credit Agreement \| Revolving credit facility, Canadian sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 25,000,000.0
Amended Credit Agreement \| Revolving credit facility, European sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	25,000,000.0
Amended Credit Agreement \| Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 35,000,000.0
Amount outstanding							$ 15,500,000
Amended Credit Agreement \| LIBOR \| Revolving credit facility
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	3.50%
Arkansas Development Finance Authority \| Southwest Steel Processing LLC
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 11,000,000.0
Amount outstanding			$ 0

Financing Arrangements (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Apr. 07, 2011
Components of Long-term debt
Long-term debt	$ 468.1	$ 443.8
Less current maturities	17.8	9.4
Total long-term debt, net of current portion	$ 450.3	434.4
8.125% senior notes due 2021
Debt Instrument [Line Items]
Senior notes, interest rate	8.125%		8.125%
Components of Long-term debt
Long-term debt	$ 250.0	250.0
Other
Components of Long-term debt
Long-term debt	$ 21.2	3.0
Revolving credit facility
Debt Instrument [Line Items]
Senior notes, interest rate	2.09%
Components of Long-term debt
Long-term debt	$ 169.0	162.0
Term Loan
Debt Instrument [Line Items]
Senior notes, interest rate	2.38%
Components of Long-term debt
Long-term debt	$ 27.9	$ 28.8

Financing Arrangements (Fair Value of Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Carrying amount	$ 468.1	$ 443.8
Level 1 \| Reported Value Measurement
Debt Instrument [Line Items]
Carrying amount	250.0	250.0
Level 1 \| Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Fair value	$ 263.4	$ 266.3

Financing Arrangements (Schedule of Maturities of Long-term Debt) (Details) $ in Millions	Dec. 31, 2015 USD ($)
Debt Disclosure [Abstract]
2016	$ 13.4
2017	12.7
2018	7.0
2019	167.2
2020	$ 0.0

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Deferred Tax Asset Cumulative Loss Position Term	3 years	3 years
Valuation allowances	$ 4.8	$ 7.1
Unrecognized tax benefits, if recognized, would affect the effective tax rate	5.5	5.4
Net interest and penalties	0.2	0.3
Payment of interest and penalties accrued	1.9	1.7
Decrease in Unrecognized Tax Benefits is Reasonably Possible	3.0
Undistributed earnings	91.2
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	18.1
Operating loss carryforward, subject to expiration	4.6
Valuation allowances	$ 4.2	$ 6.9
Foreign Tax Authority \| Minimum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2016
Foreign Tax Authority \| Maximum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2035
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	$ 2.2
Valuation allowance against state net operating loss carryforward	$ 1.3
State and Local Jurisdiction \| Minimum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2016
State and Local Jurisdiction \| Maximum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2035
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	$ 0.7

Income Taxes (Income from Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income from continuing operations before income tax expense
United States	$ 44.0	$ 53.1	$ 48.4
Outside the United States	26.0	18.7	11.9
Income before income taxes	$ 70.0	$ 71.8	$ 60.3

Income Taxes (Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current expense:
Federal	$ 11.7	$ 17.4	$ 16.0
State	0.7	0.8	1.5
Foreign	6.0	6.2	4.2
Total	18.4	24.4	21.7
Deferred expense (benefit):
Federal	2.7	1.0	1.2
State	0.6	(0.8)	(2.6)
Foreign	(0.4)	0.3	(0.9)
Total	2.9	0.5	(2.3)
Income tax expense	$ 21.3	$ 24.9	$ 19.4

Income Taxes (Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Rate reconciliation
Tax at statutory rate	$ 24.5	$ 25.1	$ 21.1
Effect of state income taxes, net	0.6	1.4	1.1
Effect of foreign operations	(1.6)	(0.9)	(0.2)
Valuation allowance	(0.7)	(1.1)	(1.6)
Non-deductible items	1.7	1.8	0.7
Manufacturer's deduction	(1.1)	(1.4)	(1.4)
Other, net	(2.1)	0.0	(0.3)
Income tax expense	$ 21.3	$ 24.9	$ 19.4

Income Taxes (Significant Components of the Company's Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Postretirement benefit obligation	$ 4.8	$ 6.2
Inventory	12.0	13.7
Net operating loss and credit carryforwards	6.1	6.3
Warranty reserve	1.9	2.5
Accrued litigation	2.9	1.9
Compensation	6.0	6.0
Other	11.0	10.6
Total deferred tax assets	44.7	47.2
Deferred tax liabilities:
Depreciation and amortization	15.2	13.2
Pension	21.0	23.3
Goodwill	2.5	2.7
Intangible assets	16.8	14.5
Other	1.6	1.4
Total deferred tax liabilities	57.1	55.1
Net deferred tax liabilities prior to valuation allowances	(12.4)	(7.9)
Valuation allowances	(4.8)	(7.1)
Net deferred tax liability	$ (17.2)	$ (15.0)

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Beginning and Ending amount of Unrecognized tax benefits
Unrecognized Tax Benefit January 1	$ 6.5	$ 5.9	$ 6.1
Gross Increases — Tax Positions in Prior Period	0.3	0.8	0.4
Gross Decreases — Tax Positions in Prior Period	(0.1)	(0.2)	(0.6)
Lapse of Statute of Limitations	(0.4)	0.0	0.0
Unrecognized Tax Benefit - December 31	$ 6.3	$ 6.5	$ 5.9

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options outstanding (in shares)	60,000	143,500
Intrinsic value of options exercised	$ 3.3	$ 0.1	$ 1.1
Issuance of common stock awards	$ 1.2	$ 0.0	$ 0.4
Stock options awarded (in shares)	0	0	0
Total fair value of restricted stock units vested	$ 9.0	$ 11.5	$ 6.1
Unrecognized compensation expense	$ 10.5
Total weighted average period	1 year 8 months
Number of shares available for future grants	590,033
Range One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise prices for options outstanding, lower limit (in dollars per share)	$ 15.61
Exercise prices for options outstanding, upper limit (in dollars per share)	$ 24.92
Number of options outstanding (in shares)	60,000
Restricted shares and performance shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 7.3	$ 5.8	$ 4.7

Share-Based Compensation (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Shares
Outstanding - beginning of year, number of shares	143,500
Granted, number of shares	0	0	0
Exercised, number of shares	(83,500)
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	60,000	143,500
Options exercisable, number of shares	60,000
Weighted Average Exercise Price
Outstanding - beginning of year, Weighted Average Exercise Price (in dollars per share)	$ 16.76
Granted, Weighted Average Exercise Price (in dollars per share)	0.00
Exercised, Weighted Average Exercise Price (in dollars per share)	14.86
Canceled or Expired, Weighted Average Exercise Price (in dollars per share)	0.00
Outstanding - end of year, Weighted Average Exercise Price (in dollars per share)	19.41	$ 16.76
Options Exercisable - end of year, Weighted Average Exercise Price	$ 19.41
Outstanding - end of year, weighted average remaining contractual term	1 year 10 months 12 days
Options Exercisable, Weighted Average remaining contractual term	1 year 10 months 12 days
Outstanding - end of year, Aggregate intrinsic value	$ 1.0
Options Exercisable, Aggregate intrinsic value	$ 1.0

Share-Based Compensation (Summary of Restricted Share Activity) (Details)	12 Months Ended
	Dec. 31, 2015 $ / shares shares
Time-Based
Number of Shares
Outstanding - beginning of year, number of shares \| shares	344,932
Granted, number of shares \| shares	72,500
Vested, number of shares \| shares	(179,167)
Canceled or expired, number of shares \| shares	(29,836)
Outstanding - end of year, number of shares \| shares	208,429
Weighted Average Grant Date Fair Value
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 33.55
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	44.26
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	32.93
Canceled or expired, weighted average grant date fair value (in dollars per share) \| $ / shares	41.92
Outstanding - end of year, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 36.61
Performance-Based
Number of Shares
Outstanding - beginning of year, number of shares \| shares	28,000
Granted, number of shares \| shares	120,000
Vested, number of shares \| shares	(14,000)
Canceled or expired, number of shares \| shares	(14,000)
Outstanding - end of year, number of shares \| shares	120,000
Weighted Average Grant Date Fair Value
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 20.30
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	48.72
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	20.30
Canceled or expired, weighted average grant date fair value (in dollars per share) \| $ / shares	20.30
Outstanding - end of year, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 48.72

Commitments, Contingencies and Litigation Judgment (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Mar. 07, 2016	Sep. 30, 2013	Dec. 31, 2015	Aug. 13, 2015
Loss Contingencies [Line Items]
Capital lease obligations			$ 17.7	$ 50.0
TMK IPSCO
Loss Contingencies [Line Items]
Damages awarded		$ 5.2
Additional damages sought		$ 3.8
Direct Damages \| TMK IPSCO
Loss Contingencies [Line Items]
Direct damages sought			$ 10.0
Subsequent Event \| TMK IPSCO
Loss Contingencies [Line Items]
Damages awarded	$ 2.2

Commitments, Contingencies and Litigation Judgment (Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Rental expense	$ 19.7	$ 18.6	$ 17.6
Capital Leases
2016	4.9
2017	3.7
2018	3.6
2019	3.6
2020	3.0
Thereafter	0.0
Total minimum lease payments	18.8
Amounts representing interest	1.1
Present value of minimum lease payments	17.7
Current maturities	4.4
Long-term capital lease obligations	13.3
Operating Leases
2016	14.5
2017	11.0
2018	7.6
2019	4.4
2020	2.9
Thereafter	5.1
Total minimum lease payments	45.5
Affiliated Entity
Related Party Transaction [Line Items]
Rental expense	$ 2.4

Commitments, Contingencies and Litigation Judgment (Capital Lease Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Capital Leased Assets [Line Items]
Leased property under capital leases	$ 16.2	$ 0.9
Machinery and Equipment
Capital Leased Assets [Line Items]
Leased property under capital leases	16.2
Less accumulated depreciation	0.5
Capital lease assets, net	$ 15.7

Pensions and Postretirement Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Annual supplemental retirement benefit	$ 0.4
Vested retirement benefit credited service maximum period, prior to January 1, 2008	13 years
Vested retirement benefit credited service maximum period, on or after January 1, 2008	7 years
Vested retirement benefit credited service period	20 years
Percentage of Supplemental Pension received	100.00%
SERP Expense	$ 0.6	$ 0.5	$ 0.5
Contribution retirement benefit credited quarterly	0.1
Contribution retirement benefit credited annually	$ 0.4
Contribution retirement benefit vested period	7 years
Contribution retirement benefit vested, Percentage	100.00%
Pension Benefits
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Expected return on plan assets	8.25%	8.25%	8.25%
Postretirement Benefits
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Estimated net loss	$ 1.1
Estimated prior service cost	$ 0.3

Pensions and Postretirement Benefits (Summary of Change in Defined Benefit and Postretirement Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in plan assets
Fair value of plan assets at beginning of year	$ 125.7
Fair value of plan assets at end of year	117.3	$ 125.7
Funded (underfunded) status of the plans
Current liabilities	1.4	1.6
Pension Benefits
Change in benefit obligation
Benefit obligation at beginning of year	61.1	52.1
Service costs	2.6	2.2	$ 2.6
Interest costs	2.3	2.2	2.0
Actuarial (gains) losses	(3.0)	8.8
Plan amendment	0.0	0.4
Benefits and expenses paid, net of contributions	(4.6)	(4.6)
Benefit obligation at end of year	58.4	61.1	52.1
Change in plan assets
Fair value of plan assets at beginning of year	125.7	125.4
Actual return on plan assets	(2.9)	5.8
Company contributions	0.0	0.0
Cash transfer to fund postretirement benefit payments	(0.9)	(0.9)
Benefits and expenses paid, net of contributions	(4.6)	(4.6)
Fair value of plan assets at end of year	117.3	125.7	125.4
Funded (underfunded) status of the plans	58.9	64.6
Funded (underfunded) status of the plans
Noncurrent assets	58.9	64.6
Noncurrent liabilities	0.0	0.0
Current liabilities	0.0	0.0
Total assets (liabilities) recognized in the consolidated balance sheets	58.9	64.6
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	25.2	15.3
Net prior service cost (credit)	0.3	0.4
Accumulated other comprehensive loss	25.5	15.7
Postretirement Benefits
Change in benefit obligation
Benefit obligation at beginning of year	17.0	16.2
Service costs	0.0	0.0	0.1
Interest costs	0.6	0.6	0.6
Actuarial (gains) losses	(2.7)	1.9
Plan amendment	0.0	0.0
Benefits and expenses paid, net of contributions	(1.3)	(1.7)
Benefit obligation at end of year	13.5	17.0	16.2
Change in plan assets
Fair value of plan assets at beginning of year	0.0	0.0
Actual return on plan assets	0.0	0.0
Company contributions	1.3	1.7
Cash transfer to fund postretirement benefit payments	0.0	0.0
Benefits and expenses paid, net of contributions	(1.3)	(1.7)
Fair value of plan assets at end of year	0.0	0.0	$ 0.0
Funded (underfunded) status of the plans	(13.5)	(17.0)
Funded (underfunded) status of the plans
Noncurrent assets	0.0	0.0
Noncurrent liabilities	12.1	15.4
Current liabilities	1.4	1.6
Total assets (liabilities) recognized in the consolidated balance sheets	(13.5)	(17.0)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	4.4	7.6
Net prior service cost (credit)	(0.3)	(0.4)
Accumulated other comprehensive loss	$ 4.1	$ 7.2

Pensions and Postretirement Benefits (Summary of Pension Plan Weighted-Average Asset Allocation) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Weighted-average asset allocations	100.00%	100.00%
Target allocation	100.00%
Equity securities
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	45.00%
Target allocation, maximum	75.00%
Weighted-average asset allocations	62.70%	64.60%
Debt securities
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	20.00%
Target allocation, maximum	40.00%
Weighted-average asset allocations	25.40%	27.90%
Other
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	0.00%
Target allocation, maximum	20.00%
Weighted-average asset allocations	11.90%	7.50%

Pensions and Postretirement Benefits (Summary of Reconciliation of Level 3 Assets Held) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at beginning of year	$ 125.7
Fair value of plan assets at end of year	117.3	$ 125.7
Hedge funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at beginning of year	7.6	7.3
Net Unrealized Gain	0.1	0.3
Purchases	5.0	0.0
Fair value of plan assets at end of year	$ 12.7	$ 7.6

Pensions and Postretirement Benefits (Summary of Assumptions Used in the valuation of pension and postretirement benefit obligations) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Summary of assumptions used by the consulting actuary and the related cost information
Discount rate	4.13%	3.82%	4.51%
Expected return on plan assets	8.25%	8.25%	8.25%
Rate of compensation increase	3.00%	3.00%	2.00%
Postretirement Benefits
Summary of assumptions used by the consulting actuary and the related cost information
Discount rate	3.80%	3.60%	4.21%
Medical health care benefits rate increase	6.75%	7.00%	6.50%
Medical drug benefits rate increase	6.75%	7.00%	6.50%
Ultimate health care cost trend rate	5.00%	5.00%	5.00%
Year of ultimate trend rate	2022	2022	2042

Pensions and Postretirement Benefits (Summary of Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Components of net periodic benefit cost
Service costs	$ 2.6	$ 2.2	$ 2.6
Interest costs	2.3	2.2	2.0
Expected return on plan assets	(10.2)	(10.1)	(8.9)
Amortization of prior service cost (credit)	0.0	0.1	0.0
Recognized net actuarial loss	0.3	0.0	0.8
Benefit (income) costs	(5.0)	(5.6)	(3.5)
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	15.7	2.2	20.3
Net loss (gain) arising during the year	10.1	13.1	(17.3)
Recognition of prior service credit	0.0	0.0	0.0
Recognition of actuarial loss	(0.3)	0.4	(0.8)
Total recognized in accumulated other comprehensive loss at end of year	25.5	15.7	2.2
Postretirement Benefits
Components of net periodic benefit cost
Service costs	0.0	0.0	0.1
Interest costs	0.6	0.6	0.6
Expected return on plan assets	0.0	0.0	0.0
Amortization of prior service cost (credit)	(0.1)	(0.1)	(0.1)
Recognized net actuarial loss	0.5	0.5	0.7
Benefit (income) costs	1.0	1.0	1.3
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	7.2	5.8	7.6
Net loss (gain) arising during the year	(2.7)	1.8	(1.2)
Recognition of prior service credit	0.1	0.1	0.1
Recognition of actuarial loss	(0.5)	(0.5)	(0.7)
Total recognized in accumulated other comprehensive loss at end of year	$ 4.1	$ 7.2	$ 5.8

Pensions and Postretirement Benefits (Summary Company's Expected Future Benefit Payments) (Details) $ in Millions	Dec. 31, 2015 USD ($)
Pension Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2016	$ 4.2
Pension Benefits 2017	4.5
Pension Benefits 2018	4.3
Pension Benefits 2019	4.3
Pension Benefits 2020	4.5
Pension Benefits 2021 to 2025	22.9
Postretirement Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2016	1.5
Pension Benefits 2017	1.4
Pension Benefits 2018	1.3
Pension Benefits 2019	1.2
Pension Benefits 2020	1.1
Pension Benefits 2021 to 2025	4.7
Postretirement Benefits \| Gross
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2016	1.6
Pension Benefits 2017	1.5
Pension Benefits 2018	1.4
Pension Benefits 2019	1.3
Pension Benefits 2020	1.2
Pension Benefits 2021 to 2025	5.2
Postretirement Benefits \| Pension Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2016	0.1
Pension Benefits 2017	0.1
Pension Benefits 2018	0.1
Pension Benefits 2019	0.1
Pension Benefits 2020	0.1
Pension Benefits 2021 to 2025	$ 0.5

Pensions and Postretirement Benefits (Summary of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rate) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Summary of One-Percentage-Point Change in the Assumed Healthcare Cost Trend Rate
Effect on total of service and interest cost components in 2015 increase	$ 0.0
Effect on total of service and interest cost components in 2015 decrease	0.0
Effect on postretirement benefit obligation as of December 31, 2015 increase	1.0
Effect on postretirement benefit obligation as of December 31, 2015 decrease	$ (0.9)

Accumulated Other Comprehensive Income (Loss) (Components of accumulated comprehensive loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ (14.0)
Balance	(30.0)	$ (14.0)
Cumulative Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(5.1)	2.8	$ 5.4
Foreign currency translation adjustments	(11.8)	(7.9)	(2.6)
Recognition of actuarial gain	0.0	0.0	0.0
Tax adjustment	0.0	0.0	0.0
Pension and OPEB activity, net of taxes	0.0	0.0	0.0
Balance	(16.9)	(5.1)	2.8
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(8.9)	0.6	(12.2)
Foreign currency translation adjustments	0.0	0.0	0.0
Recognition of actuarial gain	(6.7)	(14.9)	19.9
Tax adjustment	2.5	5.4	(7.1)
Pension and OPEB activity, net of taxes	(4.2)	(9.5)	12.8
Balance	(13.1)	(8.9)	0.6
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(14.0)	3.4	(6.8)
Foreign currency translation adjustments	(11.8)	(7.9)	(2.6)
Recognition of actuarial gain	(6.7)	(14.9)	19.9
Tax adjustment	2.5	5.4	(7.1)
Pension and OPEB activity, net of taxes	(4.2)	(9.5)	12.8
Balance	$ (30.0)	$ (14.0)	$ 3.4

- 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.

+ References + Details

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions				1 Months Ended
	Mar. 07, 2016	Feb. 29, 2016	Feb. 01, 2016	Sep. 30, 2013
Subsequent Event
Subsequent Event [Line Items]
Dividend per common share (in dollars per share)			$ 0.125
Dividend		$ 1.5
TMK IPSCO
Subsequent Event [Line Items]
Damages awarded				$ 5.2
TMK IPSCO \| Subsequent Event
Subsequent Event [Line Items]
Damages awarded	$ 2.2

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended								12 Months Ended
	Mar. 07, 2016	Sep. 30, 2013	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net sales			$ 347.4	$ 364.4	$ 377.3	$ 374.7	$ 373.0	$ 344.6	$ 343.3	$ 317.8	$ 1,463.8	$ 1,378.7	$ 1,203.2
Gross profit			54.1	62.3	60.4	58.4	56.9	60.6	61.0	56.0	235.2	234.5	211.0
Net income			11.8	13.2	12.6	11.1	11.2	12.5	12.9	10.3	48.7	46.9	40.9
Net income attributable to noncontrolling interest			(0.1)	0.0	(0.2)	(0.3)	(0.5)	(0.1)	(0.5)	0.0	(0.6)	(1.3)	(0.5)
Net income attributable to ParkOhio common shareholders			$ 11.7	$ 13.2	$ 12.4	$ 10.8	$ 10.7	$ 12.4	$ 12.4	$ 10.1	$ 48.1	$ 45.6	$ 43.4
Earnings per common share attributable to ParkOhio common shareholders:
Basic (in dollars per share)			$ 0.96	$ 1.07	$ 1.02	$ 0.89	$ 0.88	$ 1.02	$ 1.02	$ 0.84	$ 3.94	$ 3.77	$ 3.65
Diluted (in dollars per share)			0.95	1.06	1.00	0.87	0.86	1.00	1.00	0.82	3.88	3.68	3.56
Cash dividends per common share (in dollars per share)			$ 0.125000	$ 0.125000	$ 0.125000	$ 0.125	$ 0.125000	$ 0.125000	$ 0.125000	$ 0	$ 0.5	$ 0.375	$ 0
TMK IPSCO
Condensed Financial Statements, Captions [Line Items]
Damages awarded		$ 5.2
TMK IPSCO \| Subsequent Event
Condensed Financial Statements, Captions [Line Items]
Damages awarded	$ 2.2

Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Trade receivable allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	$ 4.1	$ 3.7	$ 3.5	$ 5.5
Charged to Costs and Expenses	0.4	0.3	1.8	1.8
Deductions and Other	(1.2)	0.1	(1.6)	(3.8)
Balance at End of Period	3.3	4.1	3.7	3.5
Inventory obsolescence reserve
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	29.9	28.4	27.2	24.9
Charged to Costs and Expenses	4.2	8.4	9.4	11.6
Deductions and Other	(5.1)	(6.9)	(8.2)	(9.3)
Balance at End of Period	29.0	29.9	28.4	27.2
Tax valuation allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	7.1	2.6	4.2	4.4
Charged to Costs and Expenses	(0.7)	(1.1)	(1.6)	(0.2)
Deductions and Other	(1.6)	5.6	0.0	0.0
Balance at End of Period	$ 4.8	$ 7.1	$ 2.6	$ 4.2

Pensions and Postretirement Benefits (Summary of Pension Plan Asset Allocation By Level) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	$ 117.3	$ 125.7
Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	39.8	47.8
Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	29.1	29.0
Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	5.7	5.4
U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.4	7.0
Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	14.6	19.6
Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	6.8	7.5
Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.2	1.8
Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	12.7	7.6	$ 7.3
Level 1
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	103.1	115.9
Level 1 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	38.3	45.6
Level 1 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	29.1	29.0
Level 1 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	5.7	5.4
Level 1 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.4	7.0
Level 1 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	14.6	19.6
Level 1 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	6.8	7.5
Level 1 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.2	1.8
Level 1 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.5	2.2
Level 2 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.5	2.2
Level 2 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 2 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	12.7	7.6
Level 3 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0.0	0.0
Level 3 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	$ 12.7	$ 7.6