View Filing Data

Selling, general and administrative expenses

$ 491,611

$ 500,153

$ 567,080

^[1]

Cost of sales

389,601

400,245

458,253

Gross profit

102,010

99,908

108,827

85,067

71,005

77,952

Impairment of goodwill and other intangible assets

105,972

Loss (gain) on disposal of property, plant and equipment

297

(2,644)

161

308

2,087

2,114

Interest income and other, net

16,338

(76,512)

28,600

^[1]

Interest expense

(6,802)

(6,662)

(7,588)

107

622

4,720

Earnings (loss) before provision for (benefit from) income taxes

9,643

(82,552)

25,732

Provision for (benefit from) income taxes

21,540

(17,718)

6,535

Net (loss) earnings available to common shareholders

(11,897)

(64,834)

19,197

Class A Common Stock [Member]

Net (loss) earnings available to common shareholders

$ (2,113)

$ (11,408)

$ 3,331

Net (loss) earnings per common share:

Common shares - basic and diluted (in dollars per share)

$ (0.97)

$ (5.25)

$ 1.53

Weighted-average shares outstanding:

Common shares - basic and diluted (in shares)

2,175

Dividends paid per common share:

Common shares (in dollars per share)

$ 0.24

Class B Common Stock [Member]

Net (loss) earnings available to common shareholders

$ (9,784)

$ (53,426)

$ 15,866

Net (loss) earnings per common share:

Common shares - basic and diluted (in dollars per share)

$ (0.99)

$ (5.48)

$ 1.64

Weighted-average shares outstanding:

Common shares - basic and diluted (in shares)

9,857

9,749

9,698

Dividends paid per common share:

Common shares (in dollars per share)

$ 0.28

[1]

(Revised)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]
Net (loss) earnings	$ (11,897)	$ (64,834)	$ 19,197
Other comprehensive income (loss):
Currency translation adjustment, net of taxes of $183, ($648) and ($194)	12,439	(9,671)	(9,954)
Unrealized holding (losses) gains on marketable securities arising during the period, net of taxes of ($177), ($2) and $5	(279)	(10)	5
Change in unfunded SERP liability, net of taxes of $237, $71 and $2, respectively	(488)	260	21
Other comprehensive income (loss):	11,672	(9,421)	(9,928)
Comprehensive (loss) income	$ (225)	$ (74,255)	$ 9,269

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other comprehensive income (loss):
Currency translation adjustment, tax	$ 183	$ (648)	$ (194)
Unrealized (losses) gains on marketable securities arising during the period, tax	(177)	(2)	5
Change in unfunded SERP liability, tax	$ 237	$ 71	$ 2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member] Class A Common Stock [Member]	Retained Earnings [Member] Class B Common Stock [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Common Stock [Member] Class A Common Stock [Member]	Common Stock [Member] Class B Common Stock [Member]	Additional Paid-in Capital [Member]
Balance at Dec. 31, 2014	$ 224,273			$ 213,409			$ (11,948)	$ 217	$ 969	$ 21,626
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared on common stock		$ (522)	$ (2,713)		$ (522)	$ (2,713)
Issuance of restricted common stock	0								8	(8)
Forfeiture of restricted common stock	0								(7)	7
Foreign currency translation adjustment, net of taxes	(9,954)						(9,954)
Unrealized holding gains on marketable securities arising during the year net of taxes	5						5
Stock-based compensation expense	2,815									2,815
Change in unfunded SERP liability, net of taxes	21						21
Net (loss) earnings	19,197	3,331	15,866	19,197
Balance at Dec. 31, 2015	233,122			229,371			(21,876)	217	970	24,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared on common stock		(522)	(2,728)		(522)	(2,728)
Issuance of restricted common stock	0								18	(18)
Forfeiture of restricted common stock	0								(3)	3
Foreign currency translation adjustment, net of taxes	(9,671)						(9,671)
Unrealized holding gains on marketable securities arising during the year net of taxes	(10)						(10)
Stock-based compensation expense	2,817									2,817
Change in unfunded SERP liability, net of taxes	260						260
Net (loss) earnings	(64,834)	(11,408)	(53,426)	(64,834)
Balance at Dec. 31, 2016	158,434			161,287			(31,297)	217	985	27,242
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification of APIC pool upon adoption of ASU 2016-09 \| ASU 2016-09 [Member]	0			1,696						(1,696)
Cash dividends declared on common stock		(522)	(2,757)		$ (522)	$ (2,757)
Issuance of restricted common stock	0								5	(5)
Forfeiture of restricted common stock	0								(4)	4
Foreign currency translation adjustment, net of taxes	12,439						12,439
Unrealized holding gains on marketable securities arising during the year net of taxes	(279)						(279)
Stock-based compensation expense	3,030									3,030
Change in unfunded SERP liability, net of taxes	(488)						(488)
Net (loss) earnings	(11,897)	$ (2,113)	$ (9,784)	(11,897)
Balance at Dec. 31, 2017	$ 157,960			$ 147,807			$ (19,625)	$ 217	$ 986	$ 28,575

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY [Abstract]
Foreign currency translation adjustment, tax effect	$ 183	$ (648)	$ (194)
Unrealized holding gains (losses) on marketable securities, tax effect	(177)	(2)	5
Change in unfunded SERP liability, tax	$ 237	$ 71	$ 2

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Cash flows from operating activities:

Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:

$ (11,897)

$ (64,834)

$ 19,197

Impairment of goodwill and other intangible assets

105,972

Depreciation and amortization

20,718

21,778

23,009

^[1]

Stock-based compensation

3,030

2,817

2,815

Amortization of deferred financing costs

2,259

1,804

1,432

Deferred income taxes

(315)

(6,401)

(356)

Unrealized losses (gains) on foreign currency revaluation

2,770

(3,063)

(5,095)

Loss (gain) on disposal of property, plant and equipment

109

(2,583)

426

Other, net

1,897

864

3,209

Changes in operating assets and liabilities:

Accounts receivable

(2,948)

10,803

12,187

Inventories

(6,160)

(2,794)

12,951

Other current assets

(2,423)

(670)

846

Other assets

(1,621)

297

2,161

Accounts payable

(1,426)

(588)

(10,022)

Accrued expenses

(1,861)

(6,120)

(3,113)

Other liabilities

16,566

(16,565)

(295)

Income taxes payable

5,422

(2,114)

6,437

Net cash provided by operating activities

24,120

38,603

65,789

Cash flows from investing activities:

Purchase of property, plant and equipment

(6,425)

(8,223)

(9,891)

^[1]

Purchase of company-owned life insurance

(2,164)

(2,820)

Proceeds from sale of marketable securities

2,164

2,820

Proceeds from disposal/sale of property, plant and equipment

5,839

Net cash used in investing activities

(6,349)

(2,384)

(9,814)

Cash flows from financing activities:

Dividends paid to common shareholders

(3,281)

(3,245)

(3,238)

Deferred financing costs

(2,012)

(718)

(15)

Borrowings under revolving credit line

6,000

12,500

Repayments under revolving credit line

(6,000)

(35,500)

Reduction in notes payable

(225)

(126)

(123)

Proceeds from long-term debt

125,000

Repayments of long-term debt

(143,799)

(43,389)

(22,438)

Net cash used in financing activities

(24,317)

(47,478)

(48,814)

Effect of exchange rate changes on cash

2,489

(370)

741

Net (decrease) increase in cash and cash equivalents

(4,057)

(11,629)

7,902

Cash and cash equivalents - beginning of year

73,411

85,040

77,138

Cash and cash equivalents - end of year

69,354

73,411

85,040

Cash paid during the year for:

Income tax payments, net of refunds received

756

2,459

580

Interest payments

$ 4,353

$ 4,843

$ 6,153

[1]

(Revised)

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2017

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Bel Fuse Inc. and subsidiaries ("Bel," the "Company," "we," "us," and "our") design, manufacture and sell a broad array of products that power, protect and connect electronic circuits. These products are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation and consumer electronic industries around the world. We manage our operations geographically through our three reportable operating segments: North America, Asia and Europe.

All amounts included in the tables to these notes to consolidated financial statements, except per share amounts, are in thousands.

Principles of Consolidation - The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates - The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including but not limited to those related to product returns, provisions for bad debt, inventories, goodwill, intangible assets, investments, Supplemental Executive Retirement Plan ("SERP") expense, income taxes, contingencies, litigation and the impact related to tax reform. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Cash Equivalents - Cash equivalents include short-term investments in money market funds and certificates of deposit with an original maturity of three months or less when purchased.

Allowance for Doubtful Accounts - We maintain an allowance for doubtful accounts for estimated losses from the inability of our customers to make required payments. We determine our allowance by both specific identification of customer accounts where appropriate and the application of historical loss experience to non-specific accounts.

Effects of Foreign Currency – In non-U.S. locations that are not considered highly inflationary, we translate the balance sheets at the end of period exchange rates with translation adjustments accumulated within stockholders' equity on our consolidated balance sheets. We translate the statements of operations at the average exchange rates during the applicable period. In connection with foreign currency denominated transactions, including multi-currency intercompany payable and receivable transactions and loans, the Company incurred net realized and unrealized currency exchange (losses) gains of ($2.8) million, $3.1 million and $5.1 million for the years ended December 31, 2017, 2016 and 2015, respectively, which were included in SG&A expenses on the consolidated statements of operations.

Concentration of Credit Risk - Financial instruments which potentially subject us to concentrations of credit risk consist principally of accounts receivable and temporary cash investments. We grant credit to customers that are primarily original equipment manufacturers and to subcontractors of original equipment manufacturers based on an evaluation of the customer's financial condition, without requiring collateral. Exposure to losses on receivables is principally dependent on each customer's financial condition. We control our exposure to credit risk through credit approvals, credit limits and monitoring procedures and establish allowances for anticipated losses. See Note 12, "Segments," for disclosures regarding significant customers.

We place temporary cash investments with quality financial institutions and commercial issuers of short-term paper and, by policy, limit the amount of credit exposure in any one financial instrument.

Inventories - Inventories are stated at the lower of weighted-average cost or market. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in cost of sales on the consolidated statements of operations. The Company utilizes the average cost method in determining amounts to be removed from inventory.

Revenue Recognition – Revenue is recognized when the product has been delivered and title and risk of loss has passed to the customer, collection of the resulting receivable is deemed reasonably assured by management, persuasive evidence of an arrangement exists and the sales price is fixed and determinable. Substantially all of our shipments are FCA (free carrier), which provides for title to pass upon delivery to the customer's freight carrier. Some product is shipped DDP/DDU with title passing when the product arrives at the customer's dock. DDP is defined as Delivered Duty Paid by the Company and DDU is Delivered Duty Unpaid by the Company.

For certain customers, we provide consigned inventory, either at the customer's facility or at a third-party warehouse. Sales of consigned inventory are recorded when the customer withdraws inventory from consignment.

The Company is not contractually obligated to accept returns except for defective product or in instances where the product does not meet the Company's product specifications. However, the Company may permit its customers to return product for other reasons. In these instances, the Company would generally require a significant cancellation penalty payment by the customer. The Company estimates such returns, where applicable, based upon management's evaluation of historical experience, market acceptance of products produced and known negotiations with customers. Such estimates are deducted from sales and provided for at the time revenue is recognized.

Product Warranties – Warranties vary by product line and are competitive for the markets in which the Company operates. Warranties generally extend for one to three years from the date of sale. The Company reviews its warranty liability quarterly based on an analysis of actual expenses and failure rates accompanied with estimated future costs and projected failure rate trends. Factors taken into consideration when evaluating our warranty reserve are (i) historical claims for each product, (ii) volume increases, (iii) life of warranty, (iv) historical warranty repair costs and (v) other factors. To the extent that actual experience differs from our estimate, the provision for product warranties will be adjusted in future periods. Actual warranty repair costs are charged against the reserve balance as incurred. See Note 11, "Accrued Expenses."

Goodwill and Identifiable Intangible Assets – Goodwill represents the excess of the aggregate of the following (1) consideration transferred, (2) the fair value of any noncontrolling interest in the acquiree and, (3) if the business combination is achieved in stages, the acquisition-date fair value of our previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed.

Identifiable intangible assets consist primarily of patents, licenses, trademarks, trade names, customer lists and relationships, non-compete agreements and technology based intangibles and other contractual agreements. We amortize finite lived identifiable intangible assets over the shorter of their stated or statutory duration or their estimated useful lives, ranging from 2 to 19 years, on a straight-line basis to their estimated residual values and periodically review them for impairment. Total identifiable intangible assets comprise 16.1% and 17.5% in 2017 and 2016, respectively, of our consolidated total assets.

We use the acquisition method of accounting for all business combinations and do not amortize goodwill or intangible assets with indefinite useful lives. Goodwill and intangible assets with indefinite useful lives are tested for possible impairment annually during the fourth quarter of each fiscal year or more frequently if events or changes in circumstances indicate that the asset might be impaired.

Impairment and Disposal of Long-Lived Assets – For definite-lived intangible assets, such as customer relationships, contracts, intellectual property, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we perform a review for impairment. We calculate the undiscounted value of the projected cash flows associated with the asset, or asset group, and compare this estimated amount to the carrying amount. If the carrying amount is found to be greater, we record an impairment loss for the excess of book value over the fair value. In addition, in all cases of an impairment review, we re-evaluate the remaining useful lives of the assets and modify them, as appropriate.

For indefinite-lived intangible assets, such as trademarks and trade names, each year and whenever impairment indicators are present, we determine the fair value of the asset and record an impairment loss for the excess of book value over the fair value, if any. In addition, in all cases of an impairment review we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. See Note 4, "Goodwill and Other Intangible Assets," for additional details.

Depreciation - Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated primarily using the straight-line method over the estimated useful life of the asset. The estimated useful lives primarily range from 2 to 33 years for buildings and leasehold improvements, and from 3 to 15 years for machinery and equipment.

Income Taxes - We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. See Note 9, "Income Taxes".

We record net deferred tax assets to the extent we believe these assets will more-likely-than-not be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. We have established valuation allowances for deferred tax assets that are not likely to be realized. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of our net recorded amount, we would adjust the valuation allowance, which would reduce the provision for income taxes.

We establish reserves for tax contingencies when, despite the belief that our tax return positions are fully supported, it is probable that certain positions may be challenged and may not be fully sustained. The tax contingency reserves are analyzed on a quarterly basis and adjusted based upon changes in facts and circumstances, such as the conclusion of federal and state audits, expiration of the statute of limitations for the assessment of tax, case law and emerging legislation. Our effective tax rate includes the effect of tax contingency reserves and changes to the reserves as considered appropriate by management.

Earnings per Share – We utilize the two-class method to report our earnings per share. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and participation rights in undistributed earnings. The Company's Certificate of Incorporation, as amended, states that Class B common shares are entitled to dividends at least 5% greater than dividends paid to Class A common shares, resulting in the two-class method of computing earnings per share. In computing earnings per share, the Company has allocated dividends declared to Class A and Class B based on amounts actually declared for each class of stock and 5% more of the undistributed earnings have been allocated to Class B shares than to the Class A shares on a per share basis. Basic earnings per common share are computed by dividing net earnings by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share, for each class of common stock, are computed by dividing net earnings by the weighted-average number of common shares and potential common shares outstanding during the period. There were no potential common shares outstanding during the years ended December 31, 2017, 2016 or 2015 which would have had a dilutive effect on earnings per share.

The earnings and weighted average shares outstanding used in the computation of basic and diluted earnings per share are as follows:

	2017			2016			2015
Numerator:
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197
Less dividends declared:
Class A		522			522			522
Class B		2,757			2,728			2,713
Undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,635	)	$	(11,930	)	$	2,809
Class B undistributed (loss) earnings		(12,541	)		(56,154	)		13,153
Total undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(2,113	)	$	(11,408	)	$	3,331
Class B net (loss) earnings		(9,784	)		(53,426	)		15,866
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,175			2,175			2,175
Class B - basic and diluted		9,857			9,749			9,698

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.97	)	$	(5.25	)	$	1.53
Class B - basic and diluted	$	(0.99	)	$	(5.48	)	$	1.64

Research and Development ("R&D") - Our engineering groups are strategically located around the world to facilitate communication with and access to customers' engineering personnel. This collaborative approach enables partnerships with customers for technical development efforts. On occasion, we execute non-disclosure agreements with our customers to help develop proprietary, next generation products destined for rapid deployment. R&D costs are expensed as incurred, and are included in cost of sales on the consolidated statements of operations. Generally, R&D is performed internally for the benefit of the Company. R&D costs include salaries, building maintenance and utilities, rents, materials, administration costs and miscellaneous other items. R&D expenses for the years ended December 31, 2017, 2016 and 2015 amounted to $28.8 million, $26.7 million and $27.7 million, respectively.

Fair Value Measurements - We utilize the accounting guidance for fair value measurements and disclosures for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis or on a nonrecurring basis during the reporting period. The fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based upon the best use of the asset or liability at the measurement date. The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability. We classify our fair value measurements based on the lowest level of input included in the established three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers are defined as follows:

Level 1 - Observable inputs such as quoted market prices in active markets

Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable

Level 3 - Unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions

For financial instruments such as cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and notes payable, the carrying amount approximates fair value because of the short maturities of such instruments. See Note 5, "Fair Value Measurements," for additional disclosures related to fair value measurements.

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, to simplify the accounting for share-based payment transactions including the income tax consequences, classification of awards as either equity or liabilities and classification on the statements of cash flows. Under the new guidance, all excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) should be recognized as income tax expense or benefit on the statements of operations. Under current GAAP, excess tax benefits are recognized in additional paid-in capital while tax deficiencies are recognized either as an offset to accumulated excess tax benefits, if any, or on the statements of operations. The Company adopted this guidance effective January 1, 2017. Certain provisions required retrospective/modified retrospective transition while others were applied prospectively. In accordance with this guidance, the Company reclassified $1.7 million of cumulative excess tax benefits from additional paid-in capital to retained earnings within the equity section of the condensed consolidated balance sheet as of January 1, 2017. The Company has elected to continue its method of estimating forfeitures in determining its stock-based compensation expense throughout the year. The adoption of this guidance did not have a material impact on the Company's condensed consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory, which requires entities to measure most inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. The update is effective for fiscal years beginning after December 15, 2016, and interim periods therein. We adopted this guidance on January 1, 2017. The adoption of this guidance did not have a material impact on the Company's condensed consolidated financial statements.

In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. This guidance was adopted by the Company effective January 1, 2016 and it did not have any impact on the Company's consolidated financial position or results of operations.

In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Extraordinary items are events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating the extraordinary classification simplifies income statement presentation by altogether removing the concept of extraordinary items from consideration. This guidance was adopted by the Company effective January 1, 2016 and it did not have any impact on the Company's consolidated financial position or results of operations.

In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. In August 2015, the FASB amended this guidance for debt issuance costs associated with line-of-credit arrangements to reflect that the SEC would not object to the deferral and presentation of debt issuance costs as an asset and subsequent amortization of debt issuance costs over the term of the line-of-credit arrangement, whether or not there are any outstanding borrowings on the line-of-credit arrangement. The update requires retrospective application and represents a change in accounting principle. This guidance was adopted by the Company effective January 1, 2016 and it was applied retrospectively for all prior periods. At December 31, 2017 and December 31, 2016, deferred financing costs totaling $2.3 million and $2.6 million, respectively, are reflected as a reduction in the carrying value of the Company's current and long-term debt on the consolidated balance sheet.

In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement for an acquirer in a business combination to account for measurement period adjustments retrospectively. Under this guidance, acquirers must recognize measurement period adjustments in the period in which they determine the amounts, including the effect on earnings of any amount they would have recorded in previous periods if the accounting had been completed at the acquisition date. This guidance was adopted by the Company effective January 1, 2016 on a prospective basis as required. Measurement period adjustments of any future acquisitions will be accounted for under this new guidance.

In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes, which requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on the consolidated balance sheet. The guidance simplifies the current guidance, which requires entities to separately present deferred tax assets and deferred tax liabilities as current and noncurrent on the consolidated balance sheet. The Company adopted this guidance effective January 1, 2016 and it was applied retrospectively for all prior periods.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic - 205-40) ("ASU 2014-15"). This ASU requires management to evaluate whether it is probable that known conditions or events, considered in the aggregate, would raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. If such conditions or events are identified, the standard requires management's mitigation plans to alleviate the doubt or a statement of the substantial doubt about the entity's ability to continue as a going concern to be disclosed in the financial statements. The amendments in ASU 2014-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We adopted this amendment on December 31, 2016. The adoption of ASU 2014-15 did not have a material impact on the financial statements.

Accounting Standards Issued But Not Yet Adopted

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. Subsequently, the FASB issued several other updates related to revenue recognition (collectively with ASU 2014-09, the "new revenue standards"). The new revenue standards will replace most existing revenue recognition guidance in U.S. GAAP upon its effective date.

In preparation for adoption of the new guidance, we have reviewed representative samples of contracts and other forms of agreements with customers globally and have evaluated the provisions under the five-step model specified by the new revenue standards. The Company has completed its assessment and identified changes with respect to timing of revenue recognition in arrangements for which the customer takes the Company's products from a facility holding consignment inventory.

We will adopt the guidance under the new revenue standards effective January 1, 2018 using the modified retrospective approach by recognizing the cumulative effect of initially applying the new standard as an increase to the opening balance of retained earnings. We expect this adjustment to retained earnings to approximate $2.8 million, with an immaterial impact to our net earnings on an ongoing basis. Apart from this adjustment and the inclusion of additional required disclosures beginning in the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2018, the Company does not expect the adoption of the new revenue standards to have a material impact on its consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. Current U.S. GAAP prohibits the recognition of current and deferred income taxes for intra-entity asset transfer until the asset has been sold to an outside party. The new guidance eliminates the exception and requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This accounting guidance is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods, and should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. This guidance is not expected to have a material impact on our condensed consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), to provide a new comprehensive model for lease accounting. Under this guidance, lessees and lessors should apply a "right-of-use" model in accounting for all leases (including subleases) and eliminate the concept of operating leases and off-balance sheet leases. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. This guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. Early adoption is permitted. The updated guidance requires a modified retrospective adoption. We are currently in the process of evaluating this new standard update.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. Under the new guidance, entities will be required to measure certain equity investments at fair value and recognize any changes in fair value in net earnings, unless the investments qualify for the new practicability exception. The new standard is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2017. We are currently evaluating the impact of adopting this new standard.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"), to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. ASU 2017-01 provides a framework that gives entities a basis for making reasonable judgments about whether a transaction involves an asset or a business. The Company is required to adopt ASU 2017-01 for periods beginning after December 15, 2017, including interim periods, and the guidance is to be applied on a prospective basis. Early application is permitted for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued.

In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Early adoption is permitted for interim and annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is required to adopt ASU 2017-04 for its annual or any interim goodwill impairment tests for annual periods beginning after December 15, 2019, and the guidance is to be applied on a prospective basis.

In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ("ASU 2017-07"). This guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost. ASU 2017-07 also provides explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allow only the service cost component of net benefit cost to be eligible for capitalization. This guidance is effective for periods beginning after December 15, 2017, including interim periods. Certain of the provisions within this guidance will be applied on a retrospective basis, while other aspects will be applied on a prospective basis, in accordance with ASU 2017-07.

In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting ("ASU 2017-09"). This update provides guidance about which changes to the terms or conditions of a share-based payment require an entity to apply modification accounting in Topic 718. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. The amendments in this update will be applied prospectively to any awards modified on or after the adoption date.

DISPOSITION - SALE OF NPS

12 Months Ended

Dec. 31, 2017

DISPOSITION - SALE OF NPS [Abstract]

DISPOSITION - SALE OF NPS

2.	DISPOSITION – SALE OF NPS

On January 23, 2015, the Company completed the sale of the Network Power Systems ("NPS") product line and related transactions of the acquired Power Solutions business to Unipower LLC ("Unipower") for $9.0 million in cash. The sale also included $1.0 million of escrow pending Unipower's realization of certain sales targets. The net proceeds of $9.0 million from the sale were used to repay outstanding borrowings in accordance with the provisions of the Credit and Security Agreement (see Note 10, "Debt"). The transaction provided that Bel would move processes and people to Unipower under an interim transition services agreement and that Bel would also continue to manufacture the NPS products for up to 24 months under a manufacturing services agreement.

As a result of the sale and related transactions, the Company recorded deferred revenue of $9.0 million. Of this amount, the Company has recognized net sales of $4.5 million during each of 2016 and 2015. None of the $1.0 million of escrow was recognized as Unipower did not achieve the sales targets specified in the agreement. In January 2017, the Company extended the manufacturing services agreement with Unipower through mid-2018 at renegotiated pricing by product for that term.

RESTRUCTURING ACTIVITIES

12 Months Ended

Dec. 31, 2017

RESTRUCTURING ACTIVITIES [Abstract]

RESTRUCTURING ACTIVITIES

3.	RESTRUCTURING ACTIVITIES

Activity and liability balances related to restructuring costs for the years ended December 31, 2016 and 2017 are as follows:

			2016							2017
	Liability at				Cash Payments			Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,		New		and Other			December 31,
	2015		Charges		Settlements			2016		Charges		Settlements			2017
Severance costs	$	110	$	1,407	$	(929	)	$	588	$	86	$	(674	)	$	-
Other restructuring costs		-		2		(2	)		-		51		(51	)		-
Total	$	110	$	1,409	$	(931	)	$	588	$	137	$	(725	)	$	-

During 2016 and 2017, the Company's restructuring charges included costs associated with the closure of a manufacturing facility in Shanghai, PRC and transition of the operations to other existing Bel facilities. In addition to the charges noted above, the Company incurred $0.7 million and $0.2 million related to fixed asset disposals, lease acceleration charges, relocation expenses and other costs associated with the exit of a leased facility located in Shanghai, China which are included as restructuring charges on the consolidated statement of operations during 2016 and 2017, respectively.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

4.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price and related acquisition costs over the fair value assigned to the net tangible and other intangible assets acquired in a business acquisition.

The changes in the carrying value of goodwill classified by our segment reporting structure for the years ended December 31, 2017 and 2016 are as follows:

	Total			North America			Asia			Europe

Balance at January 1, 2016:
Goodwill, gross		148,575			63,364			54,532			30,679
Accumulated impairment charges		(26,941	)		(14,066	)		(12,875	)		-
Goodwill, net	$	121,634		$	49,298		$	41,657		$	30,679

Impairment charge		(101,650	)		(40,408	)		(41,633	)		(19,609	)
Foreign currency translation		(2,033	)		-			(24	)		(2,009	)

Balance at December 31, 2016:
Goodwill, gross		146,542			63,364			54,508			28,670
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net	$	17,951		$	8,890		$	-		$	9,061

Foreign currency translation		2,226			-			-			2,226

Balance at December 31, 2017:
Goodwill, gross		148,768			63,364			54,508			30,896
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net	$	20,177		$	8,890		$	-		$	11,287

As discussed in Note 5, Fair Value Measurements, goodwill is reviewed for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The goodwill impairment test involves a two-step process. In the first step, the fair value of each reporting unit is compared to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, the second step of the impairment test must be performed to measure the amount of impairment loss. In the second step, the reporting unit's fair value is allocated to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit was being acquired in a business combination. If the implied fair value of the reporting unit's goodwill is less than the carrying value, the difference is recorded as an impairment loss and a reduction to goodwill.

We estimated the fair value of these reporting units using a weighting of fair values derived from income and market approaches. Under the income approach, we determine the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the business and the projected cash flows. The market approach estimates fair value based on market multiples of revenue and earnings derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit.

2017 Annual Impairment Test

During the fourth quarter of 2017, the Company completed step one of our annual goodwill impairment test for our reporting units. We concluded that the fair value of each of the Company's reporting units exceeded the respective carrying values and that there was no indication of impairment.

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the 2017 annual impairment test were as follows:

Reporting Unit		% by Which Estimated Fair Value Exceeds Carrying Value
North America		10.2%
Europe		8.9%

2016 Interim Impairment Test

During the first quarter of 2016, management determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment analysis for all of the Company's reporting units. These indicators included the recent business performance of those reporting units, combined with the long-term market conditions and business trends within the reporting units.

Detailed below is a table of key underlying assumptions utilized in the Level 3 fair value estimate calculation for the interim test performed as of March 31, 2016 as compared to those assumptions utilized during the annual valuation performed as of October 1, 2015. Assumptions may vary by reporting unit. The table below shows the range of assumptions utilized across the various reporting units.

			Goodwill Impairment Analysis
			Key Assumptions
		2016 - Interim		2015 - Annual

Income Approach - Discounted Cash Flows (a):
	Revenue 5-year compound annual growth rate (CAGR)		(9.0%) - (0.6%)	2.6% - 2.7%
	2016 EBITDA margins (b)		5.1% - 6.6%	7.2% - 8.4%
	Cost of equity capital		11.6% - 14.7%	12.3% - 16.5%
	Cost of debt capital		3.6% - 8.5%	2.4% - 5.9%
	Weighted average cost of capital		10.0% - 14.0%	11.0% - 15.0%

Market Approach - Multiples of Guideline Companies (a):
	Net operating revenue multiples used		0.4 - 0.6	0.4 - 0.5
	Operating EBITDA multiples used (b)		5.9 - 6.3	5.0 - 5.3
	Invested capital control premium		25%	25%

Weighting of Valuation Methods:
	Income Approach - Discounted Cash Flows		75%	75%
	Market Approach - Multiples of Guideline Companies		25%	25%

	(a) Ranges noted reflect assumptions and multiples used throughout the North America, Asia and Europe reporting units
	(b) EBITDA represents earnings before interest, taxes, depreciation and amortization. EBITDA margin is calculated by
	dividing EBITDA by net sales.

The March 31, 2016 interim impairment test related to the Company's goodwill was performed by reporting unit (North America, Asia and Europe). The valuation test, which heavily weights future discounted cash flow projections, indicated impairment of the goodwill associated with all three of the Company's reporting units. As a result, the Company recorded a provisional non-cash goodwill impairment charges totaling $104.3 million during the first quarter of 2016. During the second quarter of 2016, the Company finalized its interim impairment test, which resulted in a $2.6 million reduction to the provisional impairment charge recorded during the first quarter of 2016. The Company's goodwill associated with its reporting units originated from several of Bel's prior acquisitions, primarily Power Solutions acquired in 2014 and Connectivity Solutions acquired in 2014 (which represented $55.5 million and $55.0 million, respectively, of the carrying value of goodwill at the testing date). The carrying value of the Company's goodwill was $121.6 million at December 31, 2015.

As noted above, the fair value determined under step one of the goodwill impairment test completed in the fourth quarter of 2017 exceeded the carrying value for each reporting unit. Therefore, there was no impairment of goodwill. However, if the fair value decreases in future periods, the Company may fail step one of the goodwill impairment test and be required to perform step two. In performing step two, the fair value would have to be allocated to all of the assets and liabilities of the reporting unit. Therefore, any potential goodwill impairment charge would be dependent upon the estimated fair value of the reporting unit at that time and the outcome of step two of the impairment test. The fair values of the assets and liabilities of the reporting unit, including the intangible assets, could vary depending on various factors.

The future occurrence of a potential indicator of impairment, such as a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could require an interim assessment for some or all of the reporting units before the next required annual assessment. In the event of significant adverse changes of the nature described above, it may be necessary for us to recognize an additional non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations.

Based on annual impairment tests performed in prior years, there was no indication of goodwill impairment at the October 1, 2015 or the October 1, 2016 testing dates.

Other Intangible Assets

Other identifiable intangible assets include patents, technology, license agreements, non-compete agreements and trademarks. Amounts assigned to these intangible assets have been determined by management. Management considered a number of factors in determining the allocations, including valuations and independent appraisals. Trademarks have indefinite lives and are reviewed for impairment on an annual basis. Other intangible assets, excluding trademarks, are being amortized over 2 to 19 years.

The Company tests indefinite-lived intangible assets for impairment using a fair value approach, the relief-from-royalty method (a form of the income approach). At December 31, 2017, the Company's indefinite-lived intangible assets related to the trademarks acquired in the Power Solutions, Connectivity Solutions, Cinch and Fibreco acquisitions.

The components of definite and indefinite-lived intangible assets are as follows:

	December 31, 2017						December 31, 2016
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	39,218	$	14,926	$	24,292	$	38,658	$	11,276	$	27,382
Customer relationships		44,704		11,478		33,226		43,821		8,302		35,519
Non-compete agreements		2,711		2,711		-		2,667		2,376		291
Trademarks		11,888		40		11,848		11,677		41		11,636

	$	98,521	$	29,155	$	69,366	$	96,823	$	21,995	$	74,828

Amortization expense was $6.7 million, $7.0 million and $7.0 million in 2017, 2016 and 2015, respectively.

Estimated amortization expense for intangible assets for the next five years is as follows:

December 31,	Amortization Expense

2018	$	6,290
2019		6,288
2020		6,251
2021		6,281
2022		4,685

2017 Annual Impairment Test

The Company completed its annual indefinite-lived intangible assets impairment test during the fourth quarter of 2017, noting no further impairment. Management has concluded that the fair value of these trademarks exceeded the related carrying values at December 31, 2017 and that there was no indication of impairment.

2016 Interim Impairment Test

During the first quarter of 2016, management determined that sufficient indicators of potential impairment existed to require an interim impairment review of our trademarks. Based on the Company's analysis, the fair values of all of the Company's trademarks were lower than the respective carrying values. As a result, in 2016, the Company recorded a non-cash impairment of $4.3 million which is included in impairment of goodwill and other intangible assets on the consolidated statements of operations.

Detailed below is a table of key underlying assumptions utilized in the Level 3 fair value estimate calculation of the Company's trademarks for the interim test performed as of March 31, 2016 as compared to those assumptions utilized during the annual valuation performed as of October 1, 2015. Assumptions may vary by individual trademark. The table below shows the range of assumptions utilized across the Company's various trademarks.

		Trademark Impairment Analysis
		Key Assumptions
	2016 - Interim		2015 - Annual

Revenue 5-year compound annual growth rate (CAGR)		(0.4%) - 2.7%	0.2% - 4.0%
Estimated fair royalty rate		0.25% - 1.5%	0.5% - 2.0%
Discount rate		11.0% - 15.0%	12.0% - 14.0%

Based on annual impairment tests performed in prior years, there was no indication of indefinite-lived intangible assets impairment at the October 1, 2015 or the October 1, 2016 testing dates.

The future occurrence of a potential indicator of impairment, such as those described above, could require an interim assessment for some or all of the Company's trademarks. In such a case, it may be necessary for us to recognize an additional non-cash impairment charge related to our trademarks, which could have a material adverse effect on our consolidated financial condition and results of operations.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2017

FAIR VALUE MEASUREMENTS [Abstract]

FAIR VALUE MEASUREMENTS

5.	FAIR VALUE MEASUREMENTS

As of December 31, 2017 and 2016, the Company held certain financial assets that are measured at fair value on a recurring basis. These consisted of securities that are among the Company's investments in a rabbi trust which are intended to fund the Company's Supplemental Executive Retirement Plan ("SERP") obligations, and other marketable securities described below. The securities that are held in the rabbi trust are categorized as available-for-sale securities and are included as other assets in the accompanying consolidated balance sheets at December 31, 2017 and 2016. The gross unrealized gains associated with the investments held in the rabbi trust were $0.2 million and $0.7 million at December 31, 2017 and 2016, respectively. Such unrealized gains are included, net of tax, in accumulated other comprehensive income.

As of December 31, 2017 and 2016, our available-for-sale securities, which primarily consist of investments held in a rabbi trust of $1.5 million and $1.7 million, respectively, are measured at fair value using quoted prices in active markets for identical assets (Level 1) inputs. The Company does not have any financial assets measured at fair value on a recurring basis categorized as Level 3, and there were no transfers in or out of Level 1, Level 2 or Level 3 during 2017 or 2016. There were no changes to the Company's valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during 2017.

There were no financial assets accounted for at fair value on a nonrecurring basis as of December 31, 2017 or 2016.

The Company has other financial instruments, such as cash and cash equivalents, accounts receivable, restricted cash, accounts payable, accrued expenses and notes payable, which are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. The fair value of the Company's long-term debt is estimated using a discounted cash flow method based on interest rates that are currently available for debt issuances with similar terms and maturities. At December 31, 2017 and 2016, the estimated fair value of total debt was $124.8 million and $144.3 million, respectively, compared to a carrying amount of $122.7 million and $141.2 million, respectively. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of December 31, 2017.

Nonfinancial assets and liabilities, such as goodwill, indefinite-lived intangible assets and long-lived assets, are accounted for at fair value on a nonrecurring basis. These items are tested for impairment upon the occurrence of a triggering event or in the case of goodwill, on at least an annual basis. See Note 4, "Goodwill and Other Intangible Assets," for further information about goodwill and other indefinite-lived intangible assets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

OTHER ASSETS

12 Months Ended

Dec. 31, 2017

OTHER ASSETS [Abstract]

OTHER ASSETS

6.	OTHER ASSETS

At December 31, 2017 and 2016, the Company has obligations of $19.1 million and $16.9 million, respectively, associated with its SERP. As a means of informally funding these obligations, the Company has invested in life insurance policies related to certain employees and marketable securities held in a rabbi trust. At December 31, 2017 and 2016, these assets had a combined value of $14.0 million and $12.7 million, respectively.

Company-Owned Life Insurance

Investments in company-owned life insurance policies ("COLI") were made with the intention of utilizing them as a long-term funding source for the Company's SERP obligations. However, the cash surrender value of the COLI does not represent a committed funding source for these obligations. Any proceeds from these policies are subject to claims from creditors. The cash surrender value of the COLI of $12.3 million and $10.9 million at December 31, 2017 and 2016, respectively, is included in other assets in the accompanying consolidated balance sheets. During 2016, the Company sold $2.2 million of marketable securities within the rabbi trust and utilized the proceeds to purchase additional COLI. The volatility in global equity markets in recent years has also had an effect on the cash surrender value of the COLI policies. The Company recorded income (expense) to account for the increase (decrease) in cash surrender value in the amount of $1.3 million, $0.5 million and ($0.1) million during the years ended December 31, 2017, 2016 and 2015, respectively. These fluctuations in the cash surrender value were allocated between cost of sales and selling, general and administrative expenses on the consolidated statements of operations for the years ended December 31, 2017, 2016 and 2015. The allocation is consistent with the costs associated with the long-term employee benefit obligations that the COLI is intended to fund.

Other Investments

At December 31, 2017 and 2016, the Company held, in the aforementioned rabbi trust, available-for-sale investments at a cost of $1.3 million and $1.0 million, respectively. Together with the COLI described above, these investments are intended to fund the Company's SERP obligations and are classified as other assets in the accompanying consolidated balance sheets. The Company monitors these investments for impairment on an ongoing basis. As discussed above, the Company sold $2.2 million of its SERP investments during 2016. At December 31, 2017 and 2016, the fair market value of these investments was $1.5 million and $1.7 million, respectively. The gross unrealized gain of $0.2 million and $0.7 million at December 31, 2017 and 2016, respectively, has been included, net of tax, in accumulated other comprehensive income (loss).

INVENTORIES

12 Months Ended

Dec. 31, 2017

INVENTORIES [Abstract]

INVENTORIES

7.	INVENTORIES

The components of inventories are as follows:

	December 31,
	2017		2016
Raw materials	$	46,712	$	43,376
Work in progress		17,688		18,008
Finished goods		43,319		37,487
Inventories	$	107,719	$	98,871

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

8.	PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consist of the following:

	December 31,
	2017			2016
Land	$	2,259		$	2,234
Buildings and improvements		30,761			30,061
Machinery and equipment		122,773			113,780
Construction in progress		1,511			3,029
		157,304			149,104
Accumulated depreciation		(113,809	)		(100,349	)
Property, plant and equipment, net	$	43,495		$	48,755

Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $14.0 million, $14.8 million and $16.0 million, respectively.

INCOME TAXES

12 Months Ended

Dec. 31, 2017

INCOME TAXES [Abstract]

INCOME TAXES

9. INCOME TAXES

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is no longer subject to U.S. federal examinations by tax authorities for years before 2014 and for state examinations before 2011. Regarding foreign subsidiaries, the Company is no longer subject to examination by tax authorities for years before 2007 in Asia and generally 2010 in Europe. At December 31, 2015, the Company was under examination by the taxing authorities in Germany for the tax years 2011 through 2013. This audit concluded in April 2016 and resulted in an immaterial amount of incremental tax expense.

At December 31, 2017 and 2016, the Company has approximately $30.4 million and $27.8 million, respectively, of liabilities for uncertain tax positions ($2.5 million and $0.4 million, respectively, is included in other current liabilities on the consolidated balance sheets and $27.9 million and $27.4 million, respectively, is included in liability for uncertain tax positions on the consolidated balance sheets). These amounts, if recognized, would reduce the Company's effective tax rate. As of December 31, 2017, approximately $2.5 million of the Company's liabilities for uncertain tax positions are expected to be resolved during the next twelve months by way of expiration of the related statute of limitations.

In connection with the acquisition of the Power Solutions business in 2014, the Company acquired a liability for additional uncertain tax positions related to various tax matters for the years 2007 through 2013. During the year ended December 31, 2016, a portion of these tax matters was resolved with the taxing authorities which resulted in a reduction of $13.9 million in the liability for uncertain tax positions, of which $11.1 million related to interest and penalties. The Company is actively pursuing resolution of the remaining tax matters. From the date of acquisition through December 31, 2017, the Company has recorded $5.3 million of interest and penalties pertaining to this issue, of which $2.6 million was reversed during 2016 in relation to the settlement of the exposure. The Company will continue to accrue interest and penalties until the issues are resolved.

As part of the acquisition of Power Solutions, the Company acquired a $12.0 million liability for uncertain tax positions relating to an ongoing claim by the Arezzo Revenue Agency in Italy concerning certain tax matters related to what was then Power-One Asia Pacific Electronics Shenzhen Co. Ltd. (now Bel Power Solutions Asia Pacific Electronics Shenzhen Co. Ltd.) for the years 2004 through 2006, as further described in Note 16, "Commitments and Contingencies."

As a result of the expiration of the statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized benefits for tax positions taken regarding previously filed tax returns may change materially from those recorded as liabilities for uncertain tax positions in the Company's consolidated financial statements at December 31, 2017. A total of $2.5 million of the liability for uncertain tax positions is expected to expire in 2018. Of this amount, $1.4 million relates to the 2014 tax year and is scheduled to expire on October 15, 2018 and $1.1 million relates to the 2006 tax year and is scheduled to expire on December 31, 2018. A total of $0.4 million of the acquired liability for uncertain tax positions relating to the 2006 tax year was reversed during the year ended December 31, 2017. Additionally, a total of $0.2 million of previously recorded liabilities for uncertain tax positions relating to the 2010 tax year were reversed during the year ended December 31, 2015. This was offset by an increase to the liability for uncertain tax positions in the amount of $3.2 million, of which $2.1 million relates to interest and penalties on the uncertain tax positions acquired from Power Solutions, which is included in the consolidated statement of operations during the year ended December 31, 2015.

A reconciliation of the beginning and ending amount of the liability for uncertain tax positions, including the portion included in income taxes payable, is as follows:

	2017			2016			2015
Liability for uncertain tax positions - January 1	$	27,828		$	42,158		$	39,970
Additions based on tax positions
related to the current year		2,168			2,483			3,241
Translation adjustment		804			(881	)		(844	)
Settlement/expiration of statutes of limitations		(370	)		(15,932	)		(209	)
Liability for uncertain tax positions - December 31	$	30,430		$	27,828		$	42,158

The Company's policy is to recognize interest and penalties related to uncertain tax positions as a component of the current provision for income taxes. During the years ended December 31, 2017, 2016 and 2015, the Company recognized $0.9 million, $1.3 million and $2.5 million, respectively, in interest and penalties in the consolidated statements of operations. During the years ended December 31, 2017, 2016 and 2015, the Company recognized zero, a benefit of $3.1 million, and less than $0.1 million, respectively, for the reversal of such interest and penalties, relating to the expiration of statues of limitations and settlement of the acquired liability for uncertain tax positions, respectively. The Company has approximately $3.2 million and $2.2 million accrued for the payment of interest and penalties at December 31, 2017 and 2016, respectively, which is included in both income taxes payable and liability for uncertain tax positions in the consolidated balance sheets.

The Company's total (loss) earnings before (benefit) provision for income taxes included (loss) earnings from domestic operations of ($2.0) million, ($43.3) million and $6.1 million for 2017, 2016 and 2015, respectively, and earnings (loss) before provision (benefit) for income taxes from foreign operations of $11.7 million, ($39.2) million and $19.6 million for 2017, 2016 and 2015, respectively.

The provision (benefit) for income taxes consists of the following:

	Years Ended December 31,
	2017			2016			2015
Current:
Federal	$	16,055		$	(1,163	)	$	1,494
State		115			18			70
Foreign		5,685			(10,172	)		5,327
		21,855			(11,317	)		6,891
Deferred:
Federal		(1,312	)		(6,272	)		1,019
State		(329	)		(464	)		(64	)
Foreign		1,326			335			(1,311	)
		(315	)		(6,401	)		(356	)

	$	21,540		$	(17,718	)	$	6,535

A reconciliation of taxes on income computed at the U.S. federal statutory rate to amounts provided is as follows:

	Years Ended December 31,
	2017					2016					2015
	$			%		$			%		$			%
Tax (benefit) provision computed at the
federal statutory rate	$	3,375		35	%	$	(28,893	)	35	%	$	9,006		35	%
Increase (decrease) in taxes resulting from:
Different tax rates applicable to foreign operations		(2,531	)	(26	%)		(4,427	)	5	%		(5,353	)	(21	%)

Impairment of goodwill & intangibles		-		0	%		30,445		(37	%)		-		0	%

Increase in (reversal of) liability for uncertain
tax positions - net		1,082		11	%		(13,974	)	17	%		3,032		12	%

Impact of U.S. Tax Reform		19,171		199	%		-		0	%		-		0	%

Utilization of research and experimentation, solar and foreign
tax credits		(272	)	(3	%)		(349	)	0	%		(349	)	(1	%)

State taxes, net of federal benefit		(261	)	(3	%)		(420	)	1	%		56		0	%

Foreign tax on gain, net of federal benefit		1,223		13	%		-		0	%		-		0	%

Current year (reversal) increase in U.S. valuation allowances		-		0	%		-		0	%		(343	)	(1	%)

Federal tax on profit of foreign disregarded entities
net of deferred tax		-		0	%		-		0	%		872		3	%

Other, including qualified production activity credits, SERP/COLI
income, under/(over) accruals, unrealized foreign exchange gains
and amortization of purchase accounting intangibles		(247	)	(3	%)		(100	)	0	%		(386	)	(2	%)
Tax (benefit) provision computed at the Company's
effective tax rate	$	21,540		223	%	$	(17,718	)	21	%	$	6,535		25	%

The Company holds an offshore business license from the government of Macao. With this license, a Macao offshore company named Bel Fuse (Macao Commercial Offshore) Limited has been established to handle the Company's sales to third-party customers in Asia. Sales by this company consist of products manufactured in the PRC. This company is not subject to Macao corporate profit taxes which are imposed at a tax rate of 12%. Additionally, the Company established TRP International, a China Business Trust ("CBT"), when it acquired the TRP group, as previously discussed. Sales by the CBT consists of products manufactured in the PRC and sold to third-party customers inside and outside Asia. The CBT is not subject to PRC income taxes, which are generally imposed at a tax rate of 25%.

As of December 31, 2017, the Company has gross foreign income tax net operating losses ("NOL") of $32.2 million, foreign tax credits of $0.3 million and capital loss carryforwards of $0.2 million which amount to a total of $7.6 million of deferred tax assets. The Company has established valuation allowances totaling $7.3 million against these deferred tax assets. In addition, the Company has gross federal and state income tax NOLs of $14.4 million, including $3.7 million of NOLs acquired from Array and $9.0 million of NOLs acquired from Connectivity Solutions, which amount to $5.3 million of deferred tax assets and tax credit carryforwards of $1.1 million. The Company has established valuation allowances of $0.2 million and $1.0 million, respectively, against these deferred tax assets. The foreign NOL's can be carried forward indefinitely, the NOL acquired from Array expires at various times during 2026 – 2027, the NOL acquired from Connectivity Solutions expire at various times during 2022-2033, the state NOL's expire at various times during 2018 – 2031 and the tax credit carryforwards expire at various times during 2025 - 2034.

It is the Company's intention to repatriate substantially all net income from its wholly owned PRC subsidiary, Dongguan Transpower Electric Products Co., Ltd, a Chinese Limited Liability Company, to its direct Hong Kong parent Transpower Technologies (Hong Kong) Ltd. Applicable income and dividend withholding taxes have been reflected in the accompanying consolidated statements of operations for the year ended December 31, 2017. However, U.S. deferred taxes need not be provided on these or the majority of the remaining earnings of foreign subsidiaries as we are currently analyzing our global working capital and cash requirements and the potential tax liabilities attributable to a repatriation, including calculating any excess of the amount for financial reporting over the tax basis in our foreign subsidiaries, and have yet to determine whether we plan to repatriate earnings and profits in the future.

Due to the enactment of the Tax Act, the Company recorded a U.S. tax expense for the estimate of the one-time deemed repatriation on post 1986 untaxed accumulated foreign earnings and revalued the deferred tax assets and liabilities at the reduced corporate tax rate of 21%. Preliminary calculations of the one-time deemed repatriation estimate the post 1986 untaxed accumulated earnings at $199.9 million which is subject to U.S. income tax of 8% on illiquid assets and 15.5% on liquid assets. The estimated calculation of the transition tax is $17.5 million, of which $16.0 million is payable after tax credits, which is recorded as an incremental U.S. tax expense at December 31, 2017. The Company will elect to pay the transition tax, interest free, over 8 years, which is payable at 8% for each of the first 5 years, 15% in year 6, 20% in year 7 and 25% in year 8. The Company has also recorded a decrease related to deferred tax assets and deferred tax liabilities of $6.3 million and $4.2 million, respectively, with a corresponding net adjustment to deferred income tax expense of $2.1 million for the year ended December 31, 2017 due to the reduction of the corporate tax rate to 21%. The Company's estimates of the adjustments to deferred tax assets and deferred tax liabilities and the calculation of the transition tax are provisional amounts and were calculated using currently available information and a preliminary review of the Tax Act; however, the Company is continuing to evaluate the underlying documentation and revisions to the current calculations may occur. We will recognize any changes to the provisional amounts as we refine our estimates of our cumulative temporary differences, finalize the calculation of the total post 1986 untaxed accumulated foreign earnings and complete our interpretations of the application of the Tax Act.

Components of deferred income tax assets are as follows:

	December 31,
	2017		2016
	Tax Effect		Tax Effect

Deferred tax assets:
State tax credits	$	1,033	$	902
Unfunded pension liability		1,139		1,398
Reserves and accruals		2,828		4,335
Federal, state and foreign net operating loss
and credit carryforwards		10,524		12,891
Depreciation		917		1,057
Amortization		-		-
Other accruals		4,915		8,278
Total deferred tax assets		21,356		28,861
Deferred tax liabilities:
Reserves and accruals		-		64
Depreciation		989		3,028
Amortization		8,490		15,361
Other accruals		946		973
Total deferred tax liabilities		10,425		19,426
Valuation allowance		8,343		7,485
Net deferred tax assets/(liabilities)	$	2,588	$	1,950

The Company continues to monitor proposed legislation affecting the taxation of transfers of U.S. intangible property and other potential tax law changes.

DEBT

12 Months Ended

Dec. 31, 2017

DEBT [Abstract]

DEBT

10.

DEBT

At December 31, 2017 and 2016, borrowings outstanding related to the respective term loans described below were $125.0 million and $143.8 million, respectively, with no borrowings outstanding under the applicable revolver at either date. The unused credit available under the applicable credit facility was $75.0 million at December 31, 2017 and $50.0 million at December 31, 2016. At December 31, 2017 and 2016, the carrying value of the debt on the consolidated balance sheets is reflected net of $2.3 million and $2.6 million, respectively, of deferred financing costs.

The interest rate in effect at December 31, 2017 was 3.38%, which consisted of LIBOR of 1.63% plus the Company's margin of 1.75%. The interest rate in effect at December 31, 2016 was 3.06%, which consisted of LIBOR of 0.81% plus the Company's margin of 2.25%. In connection with its outstanding borrowings and amortization of the deferred financing costs described below, the Company incurred $6.8 million and $6.7 million of interest expense during the years ended December 31, 2017 and 2016, respectively.

2014 Credit and Security Agreement

On June 19, 2014, the Company entered into a senior Credit and Security Agreement with KeyBank National Association ("KeyBank"), as administrative agent and lender, which was amended on June 30, 2014 principally to add a syndicate of additional lenders (as so amended, the "2014 Credit and Security Agreement" or "2014 CSA"). The 2014 CSA consisted of (i) a $50 million revolving credit facility ("Revolver"), (ii) a $145 million term loan facility ("Term Loan") and (iii) a $70 million delayed draw term loan ("DDTL"). The maturity date of the 2014 CSA was June 18, 2019. The Company recorded $5.8 million of deferred financing costs associated with the 2014 CSA, to be amortized through interest expense over the 5-year term of the agreement.

2016 Amendment

In March 2016, the Company amended the terms of the 2014 CSA to modify (i) the date by which the Company was obligated to make excess cash flow prepayments in 2016 on account of excess cash flow achieved for fiscal year 2015, (ii) the method of application of mandatory and voluntary prepayments related to the Company's loans, and (iii) the maximum Leverage Ratio of the Company allowed under the 2014 CSA for the period from the effective date of the amendment through September 2016. In connection with this amendment to the 2014 CSA, the Company paid $0.7 million of deferred financing costs, and the modification to the amortization schedule resulted in $0.5 million of existing deferred financing costs to be accelerated and recorded as interest expense during the first quarter of 2016.

2017 Amendment and Refinancing

On December 11, 2017, the Company refinanced the borrowings under the 2014 CSA and further amended its terms as follows: (i) extended the maturity date to December 11, 2022, (ii) revised the amount of the Term Loan to $125.0 million, (iii) increased the amount available under the Revolver to $75.0 million, (iv) reduced mandatory amortization payments over the first four years of the new 5-year term; and (v) reduced the pricing grid related to interest expense, among other items (the "Amended CSA"). Concurrent with its entry into the Amended CSA, the Company's outstanding balances due under the DDTL and Revolver were paid in full. In connection with Amended CSA and related refinancing, the Company paid $1.8 million of deferred financing costs. Due to the magnitude of the modifications to the 2014 CSA, including a reduction in the number of lenders within the syndicate, this modification was deemed an extinguishment of the balances outstanding related to the Term Loan and DDTL that originated under the 2014 CSA. As a result, $1.0 million of existing deferred financing costs were accelerated and recorded as interest expense during the fourth quarter of 2017.

Under the terms of the Amended CSA, the Company is entitled, subject to the satisfaction of certain conditions, to request additional commitments under the revolving credit facility or term loans in the aggregate principal amount of up to $75 million to the extent that existing or new lenders agree to provide such additional commitments and/or term loans.

The obligations of the Company under the Amended CSA (and previously under the 2014 CSA) are guaranteed by certain of the Company's material U.S. subsidiaries (together with the Company, the "Loan Parties") and are secured by a first priority security interest in substantially all of the existing and future personal property of the Loan Parties, certain material real property of the Loan Parties and certain of the Loan Parties' material U.S. subsidiaries, including 65% of the voting capital stock of certain of the Loan Parties' direct foreign subsidiaries.

The borrowings under the 2014 CSA bore interest at a rate equal to, at the Company's option, either (1) LIBOR, plus a margin ranging from 1.75% per annum to 3.00% per annum depending on the Company's leverage ratio, or (2)(a) an "Alternate Base Rate," which is the highest of (i) the federal funds rate plus 0.50%, (ii) KeyBank's prime rate and (iii) the LIBOR rate with a maturity of one month plus 1.00%, plus (b) a margin ranging from 0.75% per annum to 2.00% per annum, depending on the Company's leverage ratio. The borrowings under the Amended CSA bear interest at a rate equal to, at the Company's option, either (1) LIBOR, plus a margin ranging from 1.375% per annum to 2.75% per annum depending on the Company's leverage ratio, or (2)(a) an "Alternate Base Rate," which is the highest of (i) the federal funds rate plus 0.50%, (ii) KeyBank's prime rate and (iii) the LIBOR rate with a maturity of one month plus 1.00%, plus (b) a margin ranging from 0.375% per annum to 1.75% per annum, depending on the Company's leverage ratio.

The Amended CSA (and previously, the 2014 CSA) contains customary representations and warranties, covenants and events of default and financial covenants that measure (i) the ratio of the Company's total funded indebtedness, on a consolidated basis, to the amount of the Company's consolidated EBITDA, as defined, ("Leverage Ratio") and (ii) the ratio of the amount of the Company's consolidated EBITDA to the Company's consolidated fixed charges ("Fixed Charge Coverage Ratio"). If an event of default occurs, the lenders under the CSA would be entitled to take various actions, including the acceleration of amounts due thereunder and all actions permitted to be taken by a secured creditor. At December 31, 2017, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Leverage Ratio.

Scheduled principal payments of the total debt outstanding at December 31, 2017 are as follows (in thousands):

2018	$	3,125
2019		3,125
2020		6,250
2021		6,250
2022		106,250
Total long-term debt		125,000
Less: Current maturities of long-term debt		(3,125	)
Noncurrent portion of long-term debt	$	121,875

ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2017

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

11. ACCRUED EXPENSES

Accrued expenses consist of the following:

	Year Ended December 31,
	2017		2016
Sales commissions	$	2,461	$	2,066
Subcontracting labor		1,408		1,370
Salaries, bonuses and related benefits		16,531		17,587
Warranty accrual		1,769		2,718
Other		8,339		7,808
	$	30,508	$	31,549

A tabular presentation of the activity within the warranty accrual account for the years ended December 31, 2017 and 2016 is presented below:

	Year Ended December 31,
	2017			2016
Balance, beginning of year	$	2,718		$	3,659
Charges and costs accrued		268			761
Adjustments related to pre-existing warranties
(including changes in estimates)		(969	)		(1,063	)
Less: Repair costs incurred		(311	)		(544	)
Currency translation		63			(95	)
Balance, end of year	$	1,769		$	2,718

SEGMENTS

12 Months Ended

Dec. 31, 2017

SEGMENTS [Abstract]

SEGMENTS

12. SEGMENTS

The Company operates in one industry with three reportable operating segments, which are geographic in nature. The segments consist of North America, Asia and Europe. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and income from operations. The following is a summary of key financial data:

	2017			2016			2015
Net Sales to External Customers:							(Revised)
North America	$	245,834		$	256,760		$	304,328
Asia		167,680			168,458			188,146
Europe		78,097			74,935			74,606
	$	491,611		$	500,153		$	567,080

Net Sales:
North America	$	257,541		$	268,935		$	329,304
Asia		249,506			256,202			295,751
Europe		89,765			86,750			148,735
Less intercompany
net sales		(105,201	)		(111,734	)		(206,710	)
	$	491,611		$	500,153		$	567,080

Income (Loss) from Operations:
North America	$	5,147		$	(35,722	)	$	11,012
Asia		8,964			(24,360	)		8,175
Europe		2,227			(16,430	)		9,413
	$	16,338		$	(76,512	)	$	28,600

Total Assets:
North America	$	172,674		$	168,061		$	238,930
Asia		152,447			166,028			231,063
Europe		106,144			92,651			108,512
	$	431,265		$	426,740		$	578,505

Capital Expenditures:
North America	$	1,734		$	2,641		$	2,425
Asia		2,617			4,329			4,888
Europe		2,074			1,253			2,578
	$	6,425		$	8,223		$	9,891

Depreciation and Amortization Expense:
North America	$	10,641		$	10,522		$	10,841
Asia		6,728			7,976			8,706
Europe		3,349			3,280			3,462
	$	20,718		$	21,778		$	23,009

Net Sales – Segment net sales are attributed to individual segments based on the geographic source of the billing for such customer sales. Intercompany sales include finished products manufactured in foreign countries which are then transferred to the United States and Europe for sale; finished goods manufactured in the United States which are transferred to Europe and Asia for sale; and semi-finished components manufactured in the United States which are sold to Asia for further processing. Income from operations represents net sales less operating costs and expenses and does not include any amounts related to intercompany transactions.

The following items are included in the segment data presented above:

Restructuring Charges – The following restructuring charges are included in income (loss) from operations by segment. See Note 3, "Restructuring Activities," for further information on the Company's restructuring efforts.

	2017		2016		2015
North America	$	4	$	692	$	1,452
Asia		167		1,305		352
Europe		137		90		310
	$	308	$	2,087	$	2,114

Impairment Charges – As discussed in Note 4, Goodwill and Other Intangible Assets, the Company recorded a $106.0 million non-cash impairment charge related to its goodwill and trademarks in 2016. Of this charge, $44.0 million was recorded in the Company's North America segment, $41.7 million was recorded in its Asia segment and $20.3 million was recorded in its Europe segment. These charges impacted the Company's income from operations for 2016 and the reduction in goodwill accounted for the majority of the decline in total assets from December 31, 2015 noted above.

Entity-Wide Information

The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.

	2017		2016		2015
Net Sales by Geographic Location:

United States	$	245,834	$	256,760	$	304,328
Macao		167,681		163,971		182,248
United Kingdom		24,110		21,953		27,552
Switzerland		15,366		14,048		18,050
Slovakia		14,194		17,622		2,807
Germany		13,857		14,104		16,314
All other foreign countries		10,569		11,695		15,781
Consolidated net sales	$	491,611	$	500,153	$	567,080

Net Sales by Major Product Line:

Connectivity solutions	$	170,337	$	168,845	$	181,697
Magnetic solutions		161,011		155,232		166,182
Power solutions and protection		160,263		176,076		219,201
Consolidated net sales	$	491,611	$	500,153	$	567,080

The following is a summary of long-lived assets by geographic area as of December 31, 2017 and 2016:

	2017		2016
Long-lived Assets by Geographic Location:

United States	$	27,594	$	29,740
People's Republic of China (PRC)		30,151		32,666
Slovakia		7,625		6,574
Switzerland		3,632		3,593
United Kingdom		1,345		1,419
All other foreign countries		1,121		1,117
Consolidated long-lived assets	$	71,468	$	75,109

Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area.

The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately 36.9% of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had net sales to one customer in excess of ten percent of consolidated net sales in each of 2017, 2016 and 2015. The net sales associated with this customer was $57.7 million in 2017 (11.7% of sales), $59.8 million in 2016 (12.0% of sales) and $74.8 million in 2015 (13.2% of sales). Net sales related to this significant customer were primarily reflected in the Asia operating segment during each of the three years discussed.

RETIREMENT FUND AND PROFIT SHARING PLAN

12 Months Ended

Dec. 31, 2017

RETIREMENT FUND AND PROFIT SHARING PLAN [Abstract]

RETIREMENT FUND AND PROFIT SHARING PLAN

13. RETIREMENT FUND AND PROFIT SHARING PLAN

The Company maintains the Bel Fuse Inc. Employees' Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401(a) and (k) of the Internal Revenue Code of 1986, as amended (the "Code"). The Employees' Savings Plan allows eligible employees to voluntarily contribute a percentage of their eligible compensation, subject to Code limitations, which contributions are matched by the Company in an amount equal to 100% of the first 1% of compensation contributed by participants, and 50% of the next 5% of compensation contributed by participants. Effective January 1, 2017, the Company's matching contribution is made in the form of Bel Fuse Inc. Class A common stock. For plan years beginning on January 1, 2012 through December 31, 2016, the Company's matching contributions were made in cash. Prior to January 1, 2012, the Company's matching and profit sharing contributions were made in the form of shares of Bel Fuse Inc. Class A and Class B common stock. The expense for the years ended December 31, 2017, 2016 and 2015 amounted to $1.2 million, $1.1 million and $1.2 million, respectively. As of December 31, 2017, the plan owned 67,891 and 144,276 shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. Eligible employees contribute up to 5% of salary to the fund. In addition, the Company must contribute a minimum of 5% of eligible salary, as determined by Hong Kong government regulations. The Company currently contributes 7% of eligible salary in cash or Company stock. The expense for the years ended December 31, 2017, 2016 and 2015 amounted to approximately $0.3 million in each year. As of December 31, 2017, the plan owned 3,323 and 17,342 shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. Participants in the SERP are selected by the Compensation Committee of the Board of Directors. The SERP initially became effective in 2002 and was amended and restated in April 2007 to conform with applicable requirements of Section 409A of the Internal Revenue Code and to modify the provisions regarding benefits payable in connection with a change in control of the Company. The Plan is unfunded. Benefits under the SERP are payable from the general assets of the Company, but the Company has established a rabbi trust which includes certain life insurance policies in effect on participants as well as other investments to partially cover the Company's obligations under the Plan. See Note 6, "Other Assets," for further information on these assets.

The benefits available under the SERP vary according to when and how the participant terminates employment with the Company. If a participant retires (with the prior written consent of the Company) on his normal retirement date (65 years old, 20 years of service, and 5 years of Plan participation), his normal retirement benefit under the Plan would be annual payments equal to 40% of his average base compensation (calculated using compensation from the highest five consecutive calendar years of Plan participation), payable in monthly installments for the remainder of his life. If a participant retires early from the Company (55 years old, 20 years of service, and five years of Plan participation), his early retirement benefit under the Plan would be an amount (i) calculated as if his early retirement date were in fact his normal retirement date, (ii) multiplied by a fraction, with the numerator being the actual years of service the participant has with the Company and the denominator being the years of service the participant would have had if he had retired at age 65, and (iii) actuarially reduced to reflect the early retirement date. If a participant dies prior to receiving 120 monthly payments under the Plan, his beneficiary would be entitled to continue receiving benefits for the shorter of (i) the time necessary to complete 120 monthly payments or (ii) 60 months. If a participant dies while employed by the Company, his beneficiary would receive, as a survivor benefit, an annual amount equal to (i) 100% of the participant's annual base salary at date of death for one year, and (ii) 50% of the participant's annual base salary at date of death for each of the following four years, each payable in monthly installments. The Plan also provides for disability benefits, and a forfeiture of benefits if a participant terminates employment for reasons other than those contemplated under the Plan. The expense related to the Plan for the years ended December 31, 2017, 2016 and 2015 amounted to $1.7 million, $1.6 million and $1.5 million, respectively.

Net Periodic Benefit Cost

The net periodic benefit cost related to the SERP consisted of the following components during the years ended December 31, 2017, 2016 and 2015:

	2017		2016		2015

Service Cost	$	700	$	593	$	552
Interest Cost		673		659		567
Net amortization		375		391		366
Net periodic benefit cost	$	1,748	$	1,643	$	1,485

Obligations and Funded Status

Summarized information about the changes in plan assets and benefit obligation, the funded status and the amounts recorded at December 31, 2017 and 2016 are as follows:

	2017			2016
Fair value of plan assets, January 1	$	-		$	-
Company contributions		240			129
Benefits paid		(240	)		(129	)
Fair value of plan assets, December 31		-			-
Benefit obligation, January 1		16,900			15,576
Service cost		700			593
Interest cost		673			659
Benefits paid		(240	)		(129	)
Plan amendments		198			487
Actuarial (gains) losses		903			(286	)
Benefit obligation, December 31		19,134			16,900
Underfunded status, December 31	$	(19,134	)	$	(16,900	)

The Company has recorded the 2017 and 2016 underfunded status as a long-term liability on the consolidated balance sheets. The accumulated benefit obligation for the SERP was $16.1 million as of December 31, 2017 and $13.8 million as of December 31, 2016. The aforementioned company-owned life insurance policies and marketable securities held in a rabbi trust had a combined value of $14.0 million and $12.7 million at December 31, 2017 and 2016, respectively. See Note 6, "Other Assets," for additional information on these investments.

The estimated net loss and prior service cost for the defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $0.4 million. The Company expects to make contributions of $0.3 million to the SERP in 2018. The Company had no net transition assets or obligations recognized as an adjustment to other comprehensive income and does not anticipate any plan assets being returned to the Company during 2018, as the plan has no assets.

The following benefit payments, which reflect expected future service, are expected to be paid:

Years Ending
December 31,

2018	$	317
2019		564
2020		622
2021		622
2222		909
2023 - 2027		5,193

The following gross amounts are recognized net of tax in accumulated other comprehensive loss:

	2017		2016
Prior service cost	$	1,135	$	1,172
Net loss		3,732		2,970
	$	4,867	$	4,142

Actuarial Assumptions

The weighted average assumptions used in determining the periodic net cost and benefit obligation information related to the SERP are as follows:

	2017	2016	2015
Net periodic benefit cost
Discount rate	4.00%	4.25%	4.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Benefit obligation
Discount rate	3.50%	4.00%	4.25%
Rate of compensation increase	3.00%	3.00%	3.00%

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2017

SHARE-BASED COMPENSATION [Abstract]

SHARE-BASED COMPENSATION

14. SHARE-BASED COMPENSATION

The Company has an equity compensation program (the "Program") which provides for the granting of "Incentive Stock Options" within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, non-qualified stock options and restricted stock awards. The Company believes that such awards better align the interest of its employees with those of its shareholders. The 2011 Equity Compensation Plan provides for the issuance of 1.4 million shares of the Company's Class B common stock. At December 31, 2017, 592,100 shares remained available for future issuance under the 2011 Equity Compensation Plan.

The Company records compensation expense in its consolidated statements of operations related to employee stock-based options and awards. The aggregate pretax compensation cost recognized for stock-based compensation amounted to approximately $3.0 million, $2.8 million and $2.8 million for 2017, 2016 and 2015, respectively, and related solely to restricted stock awards. The Company did not use any cash to settle any equity instruments granted under share-based arrangements during 2017, 2016 and 2015. At December 31, 2017 and 2016, the only instruments issued and outstanding under the Program related to restricted stock awards.

Restricted Stock Awards

The Company provides common stock awards to certain officers and key employees. The Company grants these awards, at its discretion, from the shares available under the Program. Unless otherwise provided at the date of grant or unless subsequently accelerated, the shares awarded are typically earned in 25% increments on the second, third, fourth and fifth anniversaries of the award and are distributed provided the employee has remained employed by the Company through such anniversary dates; otherwise the unearned shares are forfeited. The market value of these shares at the date of award is recorded as compensation expense on the straight-line method over the applicable vesting period from the respective award dates, as adjusted for forfeitures of unvested awards. During 2017, 2016 and 2015, the Company issued 46,400 shares, 180,000 shares and 84,000 shares of the Company's Class B common stock, respectively, under a restricted stock plan to various officers and employees.

A summary of the restricted stock activity under the Program as of December 31, 2017 is presented below:

						Weighted Average
Restricted Stock				Weighted Average		Remaining
Awards	Shares			Award Price		Contractual Term

Outstanding at January 1, 2017		558,600		$	22.64	3.1 years
Granted		46,400			24.05
Vested		(141,800	)		21.59
Forfeited		(38,700	)		21.70
Outstanding at December 31, 2017		424,500		$	23.23	3.0 years

As of December 31, 2017, there was $6.6 million of total pretax unrecognized compensation cost included within additional paid-in capital related to non-vested stock based compensation arrangements granted under the restricted stock award plan. That cost is expected to be recognized over a period of 4.9 years. This expense is recorded in cost of sales and SG&A expense based upon the employment classification of the award recipients.

The Company's policy is to issue new shares to satisfy restricted stock awards. Currently the Company believes that substantially all restricted stock awards will vest.

COMMON STOCK	12 Months Ended
COMMON STOCK	Dec. 31, 2017
COMMON STOCK [Abstract]
COMMON STOCK	15. COMMON STOCK As of December 31, 2017, according to regulatory filings, there was one shareholder of the Company's common stock (other than shareholders subject to specific exceptions) with ownership in excess of 10% of Class A outstanding shares with no ownership of the Company's Class B common stock. In accordance with the Company's certificate of incorporation, the Class B Protection clause is triggered if a shareholder owns 10% or more of the outstanding Class A common stock and does not own an equal or greater percentage of all then outstanding shares of both Class A and Class B common stock (all of which common stock must have been acquired after the date of the 1998 recapitalization). In such a circumstance, such shareholder must, within 90 days of the trigger date, purchase Class B common shares, in an amount and at a price determined in accordance with a formula described in the Company's certificate of incorporation, or forfeit its right to vote its Class A common shares. As of December 31, 2017, to the Company's knowledge, this shareholder had not purchased any Class B shares to comply with these requirements. In order to vote its shares at Bel's next shareholders' meeting, this shareholder must either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings are under 10%. As of December 31, 2017, to the Company's knowledge, this shareholder owned 23.2% of the Company's Class A common stock in the aggregate and had not taken steps to either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings fall below 10%. Unless and until this situation is satisfied in a manner permitted by the Company's Restated Certificate of Incorporation, the subject shareholder will not be permitted to vote its shares of common stock. Throughout 2017, 2016 and 2015, the Company declared cash dividends on a quarterly basis at a rate of $0.06 per Class A share of common stock and $0.07 per Class B share of common stock. The Company declared and paid cash dividends totaling $3.3 million in 2017 and $3.2 million in each of 2016 and 2015. There are no contractual restrictions on the Company's ability to pay dividends, provided that the Company is not in default under its credit agreements immediately before such payment and after giving effect to such payment.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2017

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

16. COMMITMENTS AND CONTINGENCIES

Leases

The Company leases various facilities under operating leases expiring through August 2027. Some of these leases require the Company to pay certain executory costs (such as insurance and maintenance).

Future minimum lease payments for operating leases are approximately as follows:

Year Ending
December 31,

2018	$	5,819
2019		4,194
2020		3,717
2021		3,112
2022		1,357
Thereafter		448
	$	18,647

Rental expense for all leases was approximately $8.2 million, $7.9 million and $8.8 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Other Commitments

The Company submits purchase orders for raw materials to various vendors throughout the year for current production requirements, as well as forecasted requirements. Certain of these purchase orders relate to special purpose material and, as such, the Company may incur penalties if an order is cancelled. The Company had outstanding purchase orders related to raw materials in the amount of $45.4 million and $31.0 million at December 31, 2017 and December 31, 2016, respectively. The Company also had outstanding purchase orders related to capital expenditures in the amount of $3.0 million and $2.8 million at December 31, 2017 and December 31, 2016, respectively.

Legal Proceedings

The Company is party to a number of legal actions and claims, none of which individually or in the aggregate, in the opinion of management, are expected to have a material adverse effect on the Company's consolidated results of operations or financial position.

In connection with the acquisition of Power Solutions, there is an ongoing claim by the Arezzo Revenue Agency in Italy concerning certain tax matters related to what was then Power-One Asia Pacific Electronics Shenzhen Co. Ltd. (now Bel Power Solutions Asia Pacific Electronics Shenzhen Co. Ltd, or "BPS China") for the years 2004 to 2006. In September 2012, the Tax Court of Arezzo ruled in favor of BPS China and cancelled the claim. In February 2013, the Arezzo Revenue Agency filed an appeal of the Tax Court's ruling. The hearing of the appeal was held on October 2, 2014. On October 13, 2014, BPS China was informed of the Regional Tax Commission of Florence ruling which was in favor of the Arezzo Revenue Agency and against BPS China. An appeal was filed on July 18, 2015 before the Regional Tax Commission of Florence and rejected. On December 5, 2016, the Arezzo Revenue Agency filed an appeal with the Supreme Court and BPS China filed a counter-appeal on January 4, 2017. The Supreme Court has yet to render its judgment. The estimated liability related to this matter is approximately $12.0 million and has been included as a liability for uncertain tax positions on the accompanying consolidated balance sheets. As Bel is fully indemnified in this matter per the terms of the stock purchase agreement with ABB, a corresponding other asset for indemnification is also included in other assets on the accompanying consolidated balance sheets at September 30, 2017 and December 31, 2016.

In 2015, the Company was provided notice of a potential patent infringement claim by Setec Netzwerke AG ("Setec"), a German company, for the alleged infringement of their patent EP 306 934 B1. Setec subsequently filed a lawsuit against the Company and three of its subsidiaries in Dusseldorf, Germany on January 29, 2016 for patent infringement. The Company filed its defense to Setec's complaint and a nullity lawsuit against Setec's patent on August 31, 2016. The Court hearing on infringement took place on March 23, 2017. Upon hearing argument from both parties, the Court issued a decision on April 6, 2017 staying the infringement case pending resolution of the nullity lawsuit. The nullity lawsuit is currently pending before the Patent Court in Munich, Germany. The Company does not have enough information at this time in order to make any further conclusions or assessments as to infringement or any potential damages.

The Company is not a party to any other legal proceeding, the adverse outcome of which is likely to have a material adverse effect on the Company's consolidated financial condition or results of operations.

ACCUMULATED OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2017

ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

17. ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss as of December 31, 2017, 2016 and 2015 are summarized below:

	2017			2016			2015

Foreign currency translation adjustment	$	(16,537	)	$	(28,976	)	$	(19,305	)
Unrealized holding gain on available-for-sale
securities, net of taxes of $85, $263 and $265 as of
December 31, 2017, 2016 and 2015		145			424			434
Unfunded SERP liability, net of taxes of ($1,635), ($1,398)
and ($1,327) as of December 31, 2017, 2016 and 2015		(3,233	)		(2,745	)		(3,005	)

Accumulated other comprehensive loss	$	(19,625	)	$	(31,297	)	$	(21,876	)

Changes in accumulated other comprehensive (loss) income by component during the years ended December 31, 2017 and 2016 are as follows. All amounts are net of tax.

				Unrealized Holding
	Foreign Currency			Gains on
	Translation			Available-for-			Unfunded
	Adjustment			Sale Securities			SERP Liability				Total

Balance at January 1, 2016	$	(19,305	)	$	434		$	(3,005	)		$	(21,876	)
Other comprehensive income (loss) before reclassifications		(9,671	)		(10	)		5				(9,676	)
Amounts reclassified from accumulated other
comprehensive income (loss)		-			-			255		(a)		255
Net current period other comprehensive income (loss)		(9,671	)		(10	)		260				(9,421	)

Balance at December 31, 2016		(28,976	)		424			(2,745	)			(31,297	)

Other comprehensive income (loss) before reclassifications		12,439			(279	)		(733	)			11,427
Amounts reclassified from accumulated other
comprehensive income (loss)		-			-			245		(a)		245
Net current period other comprehensive income (loss)		12,439			(279	)		(488	)			11,672

Balance at December 31, 2017	$	(16,537	)	$	145		$	(3,233	)		$	(19,625	)

(a)	This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP plan. This expense is allocated between cost of sales and selling, general and administrative expense based upon the employment classification of the plan participants.

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2017
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	18. RELATED PARTY TRANSACTIONS In connection with its acquisition of Power Solutions, the Company acquired a 49% interest in a joint venture in the People's Republic of China ("PRC"). The joint venture purchased raw components and other goods from the Company and sold finished goods to the Company as well as to other third parties. The Company purchased $1.5 million of inventory from the joint venture during the year ended December 31, 2015. The Company did not purchase any inventory from the joint venture during 2016 or 2017. At December 31, 2016, the Company owed the joint venture approximately $0.5 million, which is included in accounts payable on the accompanying consolidated balance sheet. During the fourth quarter of 2017, the Company divested its 49% interest in the joint venture in exchange for an extinguishment of the accounts payable balance of $0.5 million. As the interest in the joint venture had a carrying value of zero, a $0.5 million gain was recorded within cost of sales during 2017 related to this divestiture.

SELECTED QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2017

SELECTED QUARTERLY DATA (UNAUDITED) [Abstract]

SELECTED QUARTERLY DATA (UNAUDITED)

19. SELECTED QUARTERLY DATA (UNAUDITED)

Quarterly results for the year ended December 31, 2017 and 2016 are summarized as follows:

	2017
	First				Second			Third		Fourth
	Quarter				Quarter			Quarter		Quarter

Net sales	$	113,668			$	131,617		$	126,386	$	119,940

Gross profit		23,278				29,042			27,617		22,075

Net earnings (loss)		746				3,120			5,024		(20,787	)	(a)

Net earnings (loss) per share:
Class A common share - basic and diluted	$	0.05			$	0.24		$	0.40	$	(1.66	)
Class B common share - basic and diluted	$	0.06			$	0.26		$	0.42	$	(1.74	)



	2016
	First				Second			Third		Fourth
	Quarter				Quarter			Quarter		Quarter

Net sales	$	121,182			$	131,622		$	128,809	$	118,539

Gross profit		23,074				25,692			26,575		24,579

Net (loss) earnings		(100,696	)	(b)		22,776	(b)		9,710		3,377

Net (loss) earnings per share:
Class A common share - basic and diluted	$	(8.15	)		$	1.83		$	0.78	$	0.27
Class B common share - basic and diluted	$	(8.55	)		$	1.93		$	0.82	$	0.29

(a)

The provision for income taxes in the fourth quarter of 2017 included an $18 million impact from the U.S. Tax Cuts and Jobs Act which was enacted on December 22, 2017. This consisted of an estimated transition tax on foreign earnings of approximately $16 million after the utilization of foreign tax credits and $2 million related to the revaluation of the Company's deferred tax assets.

(b)

In connection with an interim impairment test related to the Company's goodwill and other intangible assets, provisional non-cash impairment charges totaling $104.3 million were recorded during the first quarter of 2016. During the second quarter of 2016, the Company finalized its interim impairment test, which resulted in a $2.6 million reduction to the provisional impairment charge recorded during the first quarter.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2017

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

BEL FUSE INC. AND SUBSIDIARIES
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
(Amounts in thousands)

Column A	Column B		Column C						Column D			Column E

			Additions
	Balance at			(1)			(2)					Balance
	beginning		Charged to costs			Charged to other			Deductions			at end
Description	of period		and expenses			accounts (b)			(a)			of period

Year ended December 31, 2017:
Allowance for doubtful accounts	$	1,781	$	139		$	(132	)	$	(43	)	$	1,745
Allowance for excess and obsolete inventory	$	6,263	$	3,893		$	661		$	(2,521	)	$	8,296
Deferred tax assets - valuation allowances	$	7,485	$	1,599		$	-		$	(739	)	$	8,345

Year ended December 31, 2016:
Allowance for doubtful accounts	$	1,747	$	(163	)	$	281		$	(84	)	$	1,781
Allowance for excess and obsolete inventory	$	5,268	$	3,513		$	185		$	(2,703	)	$	6,263
Deferred tax assets - valuation allowances	$	6,635	$	887		$	-		$	(37	)	$	7,485

Year ended December 31, 2015:
Allowance for doubtful accounts	$	1,989	$	295		$	303		$	(840	)	$	1,747
Allowance for excess and obsolete inventory	$	6,809	$	2,186		$	(59	)	$	(3,668	)	$	5,268
Deferred tax assets - valuation allowances	$	6,692	$	456		$	-		$	(513	)	$	6,635

(a) Write-offs

(b) Includes foreign currency translation adjustments

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2017

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Consolidation

Use of Estimates

Cash Equivalents

Cash Equivalents - Cash equivalents include short-term investments in money market funds and certificates of deposit with an original maturity of three months or less when purchased.

Allowance for Doubtful Accounts

Effects of Foreign Currency

Concentration of Credit Risk

We place temporary cash investments with quality financial institutions and commercial issuers of short-term paper and, by policy, limit the amount of credit exposure in any one financial instrument.

Inventories

Revenue Recognition

Product Warranties

Goodwill and Identifiable Intangible Assets

Impairment and Disposal of Long-Lived Assets

Depreciation

Income Taxes

Earnings per Share

The earnings and weighted average shares outstanding used in the computation of basic and diluted earnings per share are as follows:

	2017			2016			2015
Numerator:
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197
Less dividends declared:
Class A		522			522			522
Class B		2,757			2,728			2,713
Undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,635	)	$	(11,930	)	$	2,809
Class B undistributed (loss) earnings		(12,541	)		(56,154	)		13,153
Total undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(2,113	)	$	(11,408	)	$	3,331
Class B net (loss) earnings		(9,784	)		(53,426	)		15,866
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,175			2,175			2,175
Class B - basic and diluted		9,857			9,749			9,698

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.97	)	$	(5.25	)	$	1.53
Class B - basic and diluted	$	(0.99	)	$	(5.48	)	$	1.64

Research and Development ("R&D")

Fair Value Measurements

Level 1 - Observable inputs such as quoted market prices in active markets

Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable

Level 3 - Unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

Accounting Standards Issued But Not Yet Adopted

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of earnings and weighted average shares outstanding used in the computation of basic and diluted earnings (loss) per share

The earnings and weighted average shares outstanding used in the computation of basic and diluted earnings per share are as follows:

	2017			2016			2015
Numerator:
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197
Less dividends declared:
Class A		522			522			522
Class B		2,757			2,728			2,713
Undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,635	)	$	(11,930	)	$	2,809
Class B undistributed (loss) earnings		(12,541	)		(56,154	)		13,153
Total undistributed (loss) earnings	$	(15,176	)	$	(68,084	)	$	15,962

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(2,113	)	$	(11,408	)	$	3,331
Class B net (loss) earnings		(9,784	)		(53,426	)		15,866
Net (loss) earnings	$	(11,897	)	$	(64,834	)	$	19,197

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,175			2,175			2,175
Class B - basic and diluted		9,857			9,749			9,698

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.97	)	$	(5.25	)	$	1.53
Class B - basic and diluted	$	(0.99	)	$	(5.48	)	$	1.64

RESTRUCTURING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2017

RESTRUCTURING ACTIVITIES [Abstract]

Activity and liability balances related to restructuring charges

Activity and liability balances related to restructuring costs for the years ended December 31, 2016 and 2017 are as follows:

			2016							2017
	Liability at				Cash Payments			Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,		New		and Other			December 31,
	2015		Charges		Settlements			2016		Charges		Settlements			2017
Severance costs	$	110	$	1,407	$	(929	)	$	588	$	86	$	(674	)	$	-
Other restructuring costs		-		2		(2	)		-		51		(51	)		-
Total	$	110	$	1,409	$	(931	)	$	588	$	137	$	(725	)	$	-

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2017

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Changes in carrying value of goodwill classified by segment reporting structure

The changes in the carrying value of goodwill classified by our segment reporting structure for the years ended December 31, 2017 and 2016 are as follows:

	Total			North America			Asia			Europe

Balance at January 1, 2016:
Goodwill, gross		148,575			63,364			54,532			30,679
Accumulated impairment charges		(26,941	)		(14,066	)		(12,875	)		-
Goodwill, net	$	121,634		$	49,298		$	41,657		$	30,679

Impairment charge		(101,650	)		(40,408	)		(41,633	)		(19,609	)
Foreign currency translation		(2,033	)		-			(24	)		(2,009	)

Balance at December 31, 2016:
Goodwill, gross		146,542			63,364			54,508			28,670
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net	$	17,951		$	8,890		$	-		$	9,061

Foreign currency translation		2,226			-			-			2,226

Balance at December 31, 2017:
Goodwill, gross		148,768			63,364			54,508			30,896
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net	$	20,177		$	8,890		$	-		$	11,287

Excess of estimated fair values over carrying value including goodwill

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the 2017 annual impairment test were as follows:

Reporting Unit		% by Which Estimated Fair Value Exceeds Carrying Value
North America		10.2%
Europe		8.9%

Fair Value Inputs, Assets, Quantitative Information [Line Items]

Components of definite and indefinite-lived intangible assets

The components of definite and indefinite-lived intangible assets are as follows:

	December 31, 2017						December 31, 2016
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	39,218	$	14,926	$	24,292	$	38,658	$	11,276	$	27,382
Customer relationships		44,704		11,478		33,226		43,821		8,302		35,519
Non-compete agreements		2,711		2,711		-		2,667		2,376		291
Trademarks		11,888		40		11,848		11,677		41		11,636

	$	98,521	$	29,155	$	69,366	$	96,823	$	21,995	$	74,828

Estimated amortization expense for intangible assets

Estimated amortization expense for intangible assets for the next five years is as follows:

December 31,	Amortization Expense

2018	$	6,290
2019		6,288
2020		6,251
2021		6,281
2022		4,685

Goodwill [Member]

Fair Value Inputs, Assets, Quantitative Information [Line Items]

Schedule of underlying assumptions utilized in fair value

The table below shows the range of assumptions utilized across the various reporting units.

			Goodwill Impairment Analysis
			Key Assumptions
		2016 - Interim		2015 - Annual

Income Approach - Discounted Cash Flows (a):
	Revenue 5-year compound annual growth rate (CAGR)		(9.0%) - (0.6%)	2.6% - 2.7%
	2016 EBITDA margins (b)		5.1% - 6.6%	7.2% - 8.4%
	Cost of equity capital		11.6% - 14.7%	12.3% - 16.5%
	Cost of debt capital		3.6% - 8.5%	2.4% - 5.9%
	Weighted average cost of capital		10.0% - 14.0%	11.0% - 15.0%

Market Approach - Multiples of Guideline Companies (a):
	Net operating revenue multiples used		0.4 - 0.6	0.4 - 0.5
	Operating EBITDA multiples used (b)		5.9 - 6.3	5.0 - 5.3
	Invested capital control premium		25%	25%

Weighting of Valuation Methods:
	Income Approach - Discounted Cash Flows		75%	75%
	Market Approach - Multiples of Guideline Companies		25%	25%

	(a) Ranges noted reflect assumptions and multiples used throughout the North America, Asia and Europe reporting units
	(b) EBITDA represents earnings before interest, taxes, depreciation and amortization. EBITDA margin is calculated by
	dividing EBITDA by net sales.

Trademarks [Member]

Fair Value Inputs, Assets, Quantitative Information [Line Items]

Schedule of underlying assumptions utilized in fair value

The table below shows the range of assumptions utilized across the Company's various trademarks.

		Trademark Impairment Analysis
		Key Assumptions
	2016 - Interim		2015 - Annual

Revenue 5-year compound annual growth rate (CAGR)		(0.4%) - 2.7%	0.2% - 4.0%
Estimated fair royalty rate		0.25% - 1.5%	0.5% - 2.0%
Discount rate		11.0% - 15.0%	12.0% - 14.0%

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2017

INVENTORIES [Abstract]

Components of inventories

The components of inventories are as follows:

	December 31,
	2017		2016
Raw materials	$	46,712	$	43,376
Work in progress		17,688		18,008
Finished goods		43,319		37,487
Inventories	$	107,719	$	98,871

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2017

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

Property, plant and equipment

Property, plant and equipment, net consist of the following:

	December 31,
	2017			2016
Land	$	2,259		$	2,234
Buildings and improvements		30,761			30,061
Machinery and equipment		122,773			113,780
Construction in progress		1,511			3,029
		157,304			149,104
Accumulated depreciation		(113,809	)		(100,349	)
Property, plant and equipment, net	$	43,495		$	48,755

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

INCOME TAXES [Abstract]

Reconciliation of beginning and ending amount of liability for uncertain tax positions

A reconciliation of the beginning and ending amount of the liability for uncertain tax positions, including the portion included in income taxes payable, is as follows:

	2017			2016			2015
Liability for uncertain tax positions - January 1	$	27,828		$	42,158		$	39,970
Additions based on tax positions
related to the current year		2,168			2,483			3,241
Translation adjustment		804			(881	)		(844	)
Settlement/expiration of statutes of limitations		(370	)		(15,932	)		(209	)
Liability for uncertain tax positions - December 31	$	30,430		$	27,828		$	42,158

Provision (benefit) for income taxes

The provision (benefit) for income taxes consists of the following:

	Years Ended December 31,
	2017			2016			2015
Current:
Federal	$	16,055		$	(1,163	)	$	1,494
State		115			18			70
Foreign		5,685			(10,172	)		5,327
		21,855			(11,317	)		6,891
Deferred:
Federal		(1,312	)		(6,272	)		1,019
State		(329	)		(464	)		(64	)
Foreign		1,326			335			(1,311	)
		(315	)		(6,401	)		(356	)

	$	21,540		$	(17,718	)	$	6,535

Reconciliation of taxes on income computed at the federal statutory rate

A reconciliation of taxes on income computed at the U.S. federal statutory rate to amounts provided is as follows:

	Years Ended December 31,
	2017					2016					2015
	$			%		$			%		$			%
Tax (benefit) provision computed at the
federal statutory rate	$	3,375		35	%	$	(28,893	)	35	%	$	9,006		35	%
Increase (decrease) in taxes resulting from:
Different tax rates applicable to foreign operations		(2,531	)	(26	%)		(4,427	)	5	%		(5,353	)	(21	%)

Impairment of goodwill & intangibles		-		0	%		30,445		(37	%)		-		0	%

Increase in (reversal of) liability for uncertain
tax positions - net		1,082		11	%		(13,974	)	17	%		3,032		12	%

Impact of U.S. Tax Reform		19,171		199	%		-		0	%		-		0	%

Utilization of research and experimentation, solar and foreign
tax credits		(272	)	(3	%)		(349	)	0	%		(349	)	(1	%)

State taxes, net of federal benefit		(261	)	(3	%)		(420	)	1	%		56		0	%

Foreign tax on gain, net of federal benefit		1,223		13	%		-		0	%		-		0	%

Current year (reversal) increase in U.S. valuation allowances		-		0	%		-		0	%		(343	)	(1	%)

Federal tax on profit of foreign disregarded entities
net of deferred tax		-		0	%		-		0	%		872		3	%

Other, including qualified production activity credits, SERP/COLI
income, under/(over) accruals, unrealized foreign exchange gains
and amortization of purchase accounting intangibles		(247	)	(3	%)		(100	)	0	%		(386	)	(2	%)
Tax (benefit) provision computed at the Company's
effective tax rate	$	21,540		223	%	$	(17,718	)	21	%	$	6,535		25	%

Components of deferred income tax assets

Components of deferred income tax assets are as follows:

	December 31,
	2017		2016
	Tax Effect		Tax Effect

Deferred tax assets:
State tax credits	$	1,033	$	902
Unfunded pension liability		1,139		1,398
Reserves and accruals		2,828		4,335
Federal, state and foreign net operating loss
and credit carryforwards		10,524		12,891
Depreciation		917		1,057
Amortization		-		-
Other accruals		4,915		8,278
Total deferred tax assets		21,356		28,861
Deferred tax liabilities:
Reserves and accruals		-		64
Depreciation		989		3,028
Amortization		8,490		15,361
Other accruals		946		973
Total deferred tax liabilities		10,425		19,426
Valuation allowance		8,343		7,485
Net deferred tax assets/(liabilities)	$	2,588	$	1,950

DEBT (Tables)

12 Months Ended

Dec. 31, 2017

DEBT [Abstract]

Scheduled principal payments of the total debt outstanding

Scheduled principal payments of the total debt outstanding at December 31, 2017 are as follows (in thousands):

2018	$	3,125
2019		3,125
2020		6,250
2021		6,250
2022		106,250
Total long-term debt		125,000
Less: Current maturities of long-term debt		(3,125	)
Noncurrent portion of long-term debt	$	121,875

ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2017

ACCRUED EXPENSES [Abstract]

Accrued expenses

Accrued expenses consist of the following:

	Year Ended December 31,
	2017		2016
Sales commissions	$	2,461	$	2,066
Subcontracting labor		1,408		1,370
Salaries, bonuses and related benefits		16,531		17,587
Warranty accrual		1,769		2,718
Other		8,339		7,808
	$	30,508	$	31,549

Schedule of warranty accrual account for the period from the acquisition date

A tabular presentation of the activity within the warranty accrual account for the years ended December 31, 2017 and 2016 is presented below:

	Year Ended December 31,
	2017			2016
Balance, beginning of year	$	2,718		$	3,659
Charges and costs accrued		268			761
Adjustments related to pre-existing warranties
(including changes in estimates)		(969	)		(1,063	)
Less: Repair costs incurred		(311	)		(544	)
Currency translation		63			(95	)
Balance, end of year	$	1,769		$	2,718

SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2017

SEGMENTS [Abstract]

Key financial data

The following is a summary of key financial data:

	2017			2016			2015
Net Sales to External Customers:							(Revised)
North America	$	245,834		$	256,760		$	304,328
Asia		167,680			168,458			188,146
Europe		78,097			74,935			74,606
	$	491,611		$	500,153		$	567,080

Net Sales:
North America	$	257,541		$	268,935		$	329,304
Asia		249,506			256,202			295,751
Europe		89,765			86,750			148,735
Less intercompany
net sales		(105,201	)		(111,734	)		(206,710	)
	$	491,611		$	500,153		$	567,080

Income (Loss) from Operations:
North America	$	5,147		$	(35,722	)	$	11,012
Asia		8,964			(24,360	)		8,175
Europe		2,227			(16,430	)		9,413
	$	16,338		$	(76,512	)	$	28,600

Total Assets:
North America	$	172,674		$	168,061		$	238,930
Asia		152,447			166,028			231,063
Europe		106,144			92,651			108,512
	$	431,265		$	426,740		$	578,505

Capital Expenditures:
North America	$	1,734		$	2,641		$	2,425
Asia		2,617			4,329			4,888
Europe		2,074			1,253			2,578
	$	6,425		$	8,223		$	9,891

Depreciation and Amortization Expense:
North America	$	10,641		$	10,522		$	10,841
Asia		6,728			7,976			8,706
Europe		3,349			3,280			3,462
	$	20,718		$	21,778		$	23,009

Schedule of restructuring charges included in income (loss) from operation

The following restructuring charges are included in income (loss) from operations by segment. See Note 3, "Restructuring Activities," for further information on the Company's restructuring efforts.

	2017		2016		2015
North America	$	4	$	692	$	1,452
Asia		167		1,305		352
Europe		137		90		310
	$	308	$	2,087	$	2,114

Entity-wide information net sales to external customers by geographic area and by major product line

The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.

	2017		2016		2015
Net Sales by Geographic Location:

United States	$	245,834	$	256,760	$	304,328
Macao		167,681		163,971		182,248
United Kingdom		24,110		21,953		27,552
Switzerland		15,366		14,048		18,050
Slovakia		14,194		17,622		2,807
Germany		13,857		14,104		16,314
All other foreign countries		10,569		11,695		15,781
Consolidated net sales	$	491,611	$	500,153	$	567,080

Net Sales by Major Product Line:

Connectivity solutions	$	170,337	$	168,845	$	181,697
Magnetic solutions		161,011		155,232		166,182
Power solutions and protection		160,263		176,076		219,201
Consolidated net sales	$	491,611	$	500,153	$	567,080

Long-lived assets by geographic area

The following is a summary of long-lived assets by geographic area as of December 31, 2017 and 2016:

	2017		2016
Long-lived Assets by Geographic Location:

United States	$	27,594	$	29,740
People's Republic of China (PRC)		30,151		32,666
Slovakia		7,625		6,574
Switzerland		3,632		3,593
United Kingdom		1,345		1,419
All other foreign countries		1,121		1,117
Consolidated long-lived assets	$	71,468	$	75,109

RETIREMENT FUND AND PROFIT SHARING PLAN (Tables)

12 Months Ended

Dec. 31, 2017

RETIREMENT FUND AND PROFIT SHARING PLAN [Abstract]

Net periodic benefit cost related to the SERP

The net periodic benefit cost related to the SERP consisted of the following components during the years ended December 31, 2017, 2016 and 2015:

	2017		2016		2015

Service Cost	$	700	$	593	$	552
Interest Cost		673		659		567
Net amortization		375		391		366
Net periodic benefit cost	$	1,748	$	1,643	$	1,485

Information about changes in plan assets and benefit obligation, the funded status

Summarized information about the changes in plan assets and benefit obligation, the funded status and the amounts recorded at December 31, 2017 and 2016 are as follows:

	2017			2016
Fair value of plan assets, January 1	$	-		$	-
Company contributions		240			129
Benefits paid		(240	)		(129	)
Fair value of plan assets, December 31		-			-
Benefit obligation, January 1		16,900			15,576
Service cost		700			593
Interest cost		673			659
Benefits paid		(240	)		(129	)
Plan amendments		198			487
Actuarial (gains) losses		903			(286	)
Benefit obligation, December 31		19,134			16,900
Underfunded status, December 31	$	(19,134	)	$	(16,900	)

Expected benefit payments

The following benefit payments, which reflect expected future service, are expected to be paid:

Years Ending
December 31,

2018	$	317
2019		564
2020		622
2021		622
2222		909
2023 - 2027		5,193

Gross amounts recognized in accumulated other comprehensive loss, net of tax

The following gross amounts are recognized net of tax in accumulated other comprehensive loss:

	2017		2016
Prior service cost	$	1,135	$	1,172
Net loss		3,732		2,970
	$	4,867	$	4,142

Weighted average assumptions used in determining the periodic net cost and benefit obligation related to SERP

The weighted average assumptions used in determining the periodic net cost and benefit obligation information related to the SERP are as follows:

	2017	2016	2015
Net periodic benefit cost
Discount rate	4.00%	4.25%	4.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Benefit obligation
Discount rate	3.50%	4.00%	4.25%
Rate of compensation increase	3.00%	3.00%	3.00%

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

SHARE-BASED COMPENSATION [Abstract]

Summary of the restricted stock activity

A summary of the restricted stock activity under the Program as of December 31, 2017 is presented below:

						Weighted Average
Restricted Stock				Weighted Average		Remaining
Awards	Shares			Award Price		Contractual Term

Outstanding at January 1, 2017		558,600		$	22.64	3.1 years
Granted		46,400			24.05
Vested		(141,800	)		21.59
Forfeited		(38,700	)		21.70
Outstanding at December 31, 2017		424,500		$	23.23	3.0 years

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2017

COMMITMENTS AND CONTINGENCIES [Abstract]

Future minimum lease payments for operating leases

Future minimum lease payments for operating leases are approximately as follows:

Year Ending
December 31,

2018	$	5,819
2019		4,194
2020		3,717
2021		3,112
2022		1,357
Thereafter		448
	$	18,647

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2017

ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]

Components of accumulated other comprehensive loss

The components of accumulated other comprehensive loss as of December 31, 2017, 2016 and 2015 are summarized below:

	2017			2016			2015

Foreign currency translation adjustment	$	(16,537	)	$	(28,976	)	$	(19,305	)
Unrealized holding gain on available-for-sale
securities, net of taxes of $85, $263 and $265 as of
December 31, 2017, 2016 and 2015		145			424			434
Unfunded SERP liability, net of taxes of ($1,635), ($1,398)
and ($1,327) as of December 31, 2017, 2016 and 2015		(3,233	)		(2,745	)		(3,005	)

Accumulated other comprehensive loss	$	(19,625	)	$	(31,297	)	$	(21,876	)

Changes in accumulated other comprehensive (loss) income by component

Changes in accumulated other comprehensive (loss) income by component during the years ended December 31, 2017 and 2016 are as follows. All amounts are net of tax.

				Unrealized Holding
	Foreign Currency			Gains on
	Translation			Available-for-			Unfunded
	Adjustment			Sale Securities			SERP Liability				Total

Balance at January 1, 2016	$	(19,305	)	$	434		$	(3,005	)		$	(21,876	)
Other comprehensive income (loss) before reclassifications		(9,671	)		(10	)		5				(9,676	)
Amounts reclassified from accumulated other
comprehensive income (loss)		-			-			255		(a)		255
Net current period other comprehensive income (loss)		(9,671	)		(10	)		260				(9,421	)

Balance at December 31, 2016		(28,976	)		424			(2,745	)			(31,297	)

Other comprehensive income (loss) before reclassifications		12,439			(279	)		(733	)			11,427
Amounts reclassified from accumulated other
comprehensive income (loss)		-			-			245		(a)		245
Net current period other comprehensive income (loss)		12,439			(279	)		(488	)			11,672

Balance at December 31, 2017	$	(16,537	)	$	145		$	(3,233	)		$	(19,625	)

(a)	This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP plan. This expense is allocated between cost of sales and selling, general and administrative expense based upon the employment classification of the plan participants.

SELECTED QUARTERLY DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2017

SELECTED QUARTERLY DATA (UNAUDITED) [Abstract]

Quarterly results (unaudited)

Quarterly results for the year ended December 31, 2017 and 2016 are summarized as follows:

	2017
	First				Second			Third		Fourth
	Quarter				Quarter			Quarter		Quarter

Net sales	$	113,668			$	131,617		$	126,386	$	119,940

Gross profit		23,278				29,042			27,617		22,075

Net earnings (loss)		746				3,120			5,024		(20,787	)	(a)

Net earnings (loss) per share:
Class A common share - basic and diluted	$	0.05			$	0.24		$	0.40	$	(1.66	)
Class B common share - basic and diluted	$	0.06			$	0.26		$	0.42	$	(1.74	)



	2016
	First				Second			Third		Fourth
	Quarter				Quarter			Quarter		Quarter

Net sales	$	121,182			$	131,622		$	128,809	$	118,539

Gross profit		23,074				25,692			26,575		24,579

Net (loss) earnings		(100,696	)	(b)		22,776	(b)		9,710		3,377

Net (loss) earnings per share:
Class A common share - basic and diluted	$	(8.15	)		$	1.83		$	0.78	$	0.27
Class B common share - basic and diluted	$	(8.55	)		$	1.93		$	0.82	$	0.29

(a)

(b)

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2017 Segment
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Number of reportable segments	3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Effects of Foreign Currency, Product Warranties, Depreciation and Goodwill and Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Net realized and unrealized currency exchange (losses) gains	$ (2,770)	$ 3,063	$ 5,095
Goodwill and Identifiable Intangible Assets [Abstract]
Percentage of identifiable intangible assets	16.10%	17.50%
Minimum [Member]
Product Warranty Liability [Line Items]
Standard warranty period of product	1 year
Goodwill and Identifiable Intangible Assets [Abstract]
Other intangible assets amortization period	2 years
Maximum [Member]
Product Warranty Liability [Line Items]
Standard warranty period of product	3 years
Goodwill and Identifiable Intangible Assets [Abstract]
Other intangible assets amortization period	19 years
Buildings and Leasehold Improvements [Member] \| Minimum [Member]
Depreciation [Abstract]
Property, plant and equipment, useful life	2 years
Buildings and Leasehold Improvements [Member] \| Maximum [Member]
Depreciation [Abstract]
Property, plant and equipment, useful life	33 years
Machinery and Equipment [Member] \| Minimum [Member]
Depreciation [Abstract]
Property, plant and equipment, useful life	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Depreciation [Abstract]
Property, plant and equipment, useful life	15 years

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Anti-dilutive securities excluded from earnings per share calculation (in shares)

Numerator [Abstract]

Undistributed (loss) earnings

$ (20,787)

^[1]

$ 5,024

$ 3,120

$ 746

$ 3,377

$ 9,710

$ 22,776

^[2]

$ (100,696)

^[2]

$ (11,897)

$ (64,834)

$ 19,197

(15,176)

(68,084)

15,962

Class A [Member]

Numerator [Abstract]

Undistributed (loss) earnings

(2,113)

(11,408)

3,331

Less dividends declared

522

$ (2,635)

$ (11,930)

$ 2,809

Weighted average shares outstanding [Abstract]

Weighted average shares outstanding (in shares)

2,175

Net (loss) earnings per share [Abstract]

Common share - basic and diluted (in dollars per share)

$ (1.66)

$ 0.40

$ 0.24

$ 0.05

$ 0.27

$ 0.78

$ 1.83

$ (8.15)

$ (0.97)

$ (5.25)

$ 1.53

Class B [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Dividend rate Class B common stock in excess of dividend rate of Class A common stock

5.00%

Undistributed earning allocation rate of Class B common stock in excess of Class A common stock, percentage

5.00%

Numerator [Abstract]

Undistributed (loss) earnings

$ (9,784)

$ (53,426)

$ 15,866

Less dividends declared

2,757

2,728

2,713

$ (12,541)

$ (56,154)

$ 13,153

Weighted average shares outstanding [Abstract]

Weighted average shares outstanding (in shares)

9,857

9,749

9,698

Net (loss) earnings per share [Abstract]

Common share - basic and diluted (in dollars per share)

$ (1.74)

$ 0.42

$ 0.26

$ 0.06

$ 0.29

$ 0.82

$ 1.93

$ (8.55)

$ (0.99)

$ (5.48)

$ 1.64

[1]

[2]

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Research and Development ("R&D") [Abstract]
Research and development costs	$ 28.8	$ 26.7	$ 27.7

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASU 2016-09 [Member]
Summary of Adjustments to Conform to New Guidance [Abstract]
Cumulative effect adjustment		$ 0
ASU 2016-09 [Member] \| Retained Earnings [Member]
Summary of Adjustments to Conform to New Guidance [Abstract]
Cumulative effect adjustment		1,696
ASU 2016-09 [Member] \| Additional Paid-in Capital [Member]
Summary of Adjustments to Conform to New Guidance [Abstract]
Cumulative effect adjustment		(1,696)
ASU 2015-03 [Member]
Summary of Adjustments to Conform to New Guidance [Abstract]
Deferred financing costs	$ 2,300	$ 2,600
ASU 2014-09 [Member] \| Retained Earnings [Member] \| Plan [Member]
Summary of Adjustments to Conform to New Guidance [Abstract]
Cumulative effect adjustment	$ 2,800

DISPOSITION - SALE OF NPS (Details) - Network Power Systems [Member] - USD ($) $ in Millions		12 Months Ended
	Jan. 23, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disposition Sale of NPS [Abstract]
Number of months of manufacturing service agreement		24 months
Deferred revenue	$ 9.0
Disposal of assets, net sales			$ 4.5	$ 4.5
Unipower LLC [Member]
Disposition Sale of NPS [Abstract]
Proceeds from sale of business	9.0
Escrow on sale of business assets	$ 1.0

RESTRUCTURING ACTIVITIES (Details) - USD ($) $ in Thousands	12 Months Ended
RESTRUCTURING ACTIVITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Activity and liability balances related to restructuring costs [Roll Forward]
Liability, beginning balance	$ 588	$ 110
New charges	137	1,409
Cash payment and other settlements	(725)	(931)
Liability, ending balance	0	588
Other restructuring costs	200	700
Severance Costs [Member]
Activity and liability balances related to restructuring costs [Roll Forward]
Liability, beginning balance	588	110
New charges	86	1,407
Cash payment and other settlements	(674)	(929)
Liability, ending balance	0	588
Other Restructuring Costs [Member]
Activity and liability balances related to restructuring costs [Roll Forward]
Liability, beginning balance	0	0
New charges	51	2
Cash payment and other settlements	(51)	(2)
Liability, ending balance	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Accumulated impairment charges, beginning of period

$ 148,575

$ 146,542

$ 148,575

(26,941)

(128,591)

(26,941)

121,634

17,951

121,634

(104,300)

(101,650)

2,226

(2,033)

148,768

146,542

$ 148,575

(128,591)

(26,941)

20,177

$ 17,951

$ 121,634

Decrease in impairment charge

$ (2,600)

Trademarks [Member] | Minimum [Member]

Estimated fair royalty rate

^[1]

(0.40%)

^[2]

0.20%

^[1]

0.25%

^[2]

0.50%

Discount rate of fair value inputs

^[1]

11.00%

^[2]

12.00%

Trademarks [Member] | Maximum [Member]

Estimated fair royalty rate

^[1]

2.70%

^[2]

4.00%

^[1]

1.50%

^[2]

2.00%

Discount rate of fair value inputs

^[1]

15.00%

^[2]

14.00%

Power Solutions [Member]

55,500

Connectivity Solutions [Member]

55,500

$ 55,000

Income Approach - Discounted Cash Flows [Member] | Goodwill [Member]

55,000

Weighting of valuation method

^[1]

75.00%

^[2]

75.00%

Income Approach - Discounted Cash Flows [Member] | Goodwill [Member] | Minimum [Member]

Weighted average cost of capital

^[1],[3]

(9.00%)

^[2]

2.60%

2016 EBITDA margins

^[1],[3],[4]

5.10%

^[2]

7.20%

Cost of equity capital

^[1],[3]

11.60%

^[2]

12.30%

Cost of debt capital

^[1],[3]

3.60%

^[2]

2.40%

^[1],[3]

10.00%

^[2]

11.00%

Income Approach - Discounted Cash Flows [Member] | Goodwill [Member] | Maximum [Member]

Weighted average cost of capital

^[1],[3]

(0.60%)

^[2]

2.70%

2016 EBITDA margins

^[1],[3],[4]

6.60%

^[2]

8.40%

Cost of equity capital

^[1],[3]

14.70%

^[2]

16.50%

Cost of debt capital

^[1],[3]

8.50%

^[2]

5.90%

^[1],[3]

14.00%

^[2]

15.00%

Market Approach - Multiples of Guideline Companies [Member] | Goodwill [Member]

Invested capital control premium

^[1],[3]

25.00%

^[2]

25.00%

Weighting of valuation method

^[1]

25.00%

^[2]

25.00%

Market Approach - Multiples of Guideline Companies [Member] | Goodwill [Member] | Minimum [Member]

Net operating revenue multiples used

^[1],[3]

0.4

^[2]

0.4

Operating EBITDA multiples used

^[1],[3],[4]

5.9

^[2]

5.0

Market Approach - Multiples of Guideline Companies [Member] | Goodwill [Member] | Maximum [Member]

Net operating revenue multiples used

^[1],[3]

0.6

^[2]

0.5

Operating EBITDA multiples used

^[1],[3],[4]

6.3

^[2]

5.3

North America [Member]

Accumulated impairment charges, beginning of period

63,364

$ 63,364

(14,066)

(54,474)

(14,066)

49,298

8,890

49,298

(40,408)

63,364

$ 63,364

(54,474)

(14,066)

Reporting unit, percentage of fair value in excess of carrying amount

$ 8,890

8,890

49,298

10.20%

Asia [Member]

Accumulated impairment charges, beginning of period

54,532

$ 54,508

54,532

(12,875)

(54,508)

(12,875)

41,657

(41,633)

(24)

54,508

54,532

(54,508)

(12,875)

41,657

Europe [Member]

Accumulated impairment charges, beginning of period

30,679

28,670

30,679

(19,609)

$ 30,679

9,061

30,679

(19,609)

2,226

(2,009)

30,896

28,670

30,679

(19,609)

Reporting unit, percentage of fair value in excess of carrying amount

$ 11,287

$ 9,061

$ 30,679

8.90%

[1]	Annual
[2]	Interim
[3]	Ranges noted reflect assumptions and multiples used throughout the North America, Asia and Europe reporting units
[4]	EBITDA represents earnings before interest, taxes, depreciation and amortization. EBITDA margin is calculated by dividing EBITDA by net sales.

GOODWILL AND OTHER INTANGIBLE ASSETS, Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 6,700	$ 7,000	$ 7,000
Intangible assets, impairment charges	$ 4,300
Components of definite and indefinite-lived intangible assets [Abstract]
Gross Carrying Amount		98,521	96,823
Accumulated Amortization		29,155	21,995
Net Carrying Amount		69,366	74,828
Estimated amortization expense for intangible assets [Abstract]
2018		6,290
2019		6,288
2020		6,251
2021		6,281
2022		$ 4,685
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization period		2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization period		19 years
Patents, Licenses and Technology [Member]
Components of definite and indefinite-lived intangible assets [Abstract]
Gross Carrying Amount		$ 39,218	38,658
Accumulated Amortization		14,926	11,276
Net Carrying Amount		24,292	27,382
Customer Relationships [Member]
Components of definite and indefinite-lived intangible assets [Abstract]
Gross Carrying Amount		44,704	43,821
Accumulated Amortization		11,478	8,302
Net Carrying Amount		33,226	35,519
Non-compete Agreements [Member]
Components of definite and indefinite-lived intangible assets [Abstract]
Gross Carrying Amount		2,711	2,667
Accumulated Amortization		2,711	2,376
Net Carrying Amount		0	291
Trademarks [Member]
Components of definite and indefinite-lived intangible assets [Abstract]
Gross Carrying Amount		11,888	11,677
Accumulated Amortization		40	41
Net Carrying Amount		$ 11,848	$ 11,636

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers in out between levels	$ 0.0	$ 0.0
Fair value of total debt	124.8	144.3
Carrying amount of long-term debt	122.7	141.2
Investments held in Rabbi Trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities measured at fair value	1.5	1.7
Investments held in Rabbi Trust [Member] \| SERP [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross unrealized gains associated with the investment held in the rabbi trust	0.2	0.7
Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets accounted at fair value	$ 0.0	$ 0.0

OTHER ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Cash surrender value of the COLI	$ 12,300	$ 10,900
Increase (decrease) in cash surrender value	1,300	500	$ (100)
Proceeds from sale of marketable securities	0	2,164	2,820
Investments held in Rabbi Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Cost of investments	1,300	1,000
Fair value of investments	1,500	1,700
Unrealized gain on investments	200	700
Proceeds from sale of marketable securities		2,200
Supplemental Employee Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	19,134	16,900	$ 15,576
Value of assets earmarked for SERP use but not restricted to that use	$ 14,000	12,700
Proceeds from sale of marketable securities		$ 2,200

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Components of inventories [Abstract]
Raw materials	$ 46,712	$ 43,376
Work in progress	17,688	18,008
Finished goods	43,319	37,487
Inventories	$ 107,719	$ 98,871

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 157,304	$ 149,104
Accumulated depreciation	(113,809)	(100,349)
Property, plant and equipment, net	43,495	48,755
Depreciation expense	14,000	14,800	$ 16,000
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	2,259	2,234
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	30,761	30,061
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	122,773	113,780
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 1,511	$ 3,029

INCOME TAXES, Uncertain Tax Positions and Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Liabilities for uncertain tax positions current	$ 2,500	$ 400
Liability for uncertain tax positions noncurrent	27,948	27,458
Liability for uncertain positions expected to be resolved in next fiscal year	2,500
Interest and penalties uncertain tax positions recognized	900	1,300	$ 2,500
Reconciliation of beginning and ending amount of liability for uncertain tax positions [Roll Forward]
Liability for uncertain tax positions - beginning of period	27,828	42,158	39,970
Additions based on tax positions related to the current year	2,168	2,483	3,241
Translation adjustment - increase	804
Translation adjustment - decrease		(881)	(844)
Settlement/expiration of statutes of limitations	(370)	(15,932)	(209)
Liability for uncertain tax positions - end of period	30,430	27,828	42,158	$ 39,970
Interest and Penalties [Abstract]
Benefit on reversal of interest and penalties	0	(3,100)
Accrued interest and penalties uncertain tax positions	3,200	2,200
Maximum [Member]
Interest and Penalties [Abstract]
Benefit on reversal of interest and penalties			$ (100)
Tax Year 2014 [Member]
Income Tax Contingency [Line Items]
Liabilities for uncertain tax positions current	1,400
Tax Year 2006 [Member]
Income Tax Contingency [Line Items]
Liabilities for uncertain tax positions current	1,100
Power Solutions [Member]
Income Tax Contingency [Line Items]
Reduction relating to settlement with taxing authorities	(13,900)
Reduction relating to interest and penalties uncertain tax positions	(11,100)
Interest and penalties uncertain tax positions recognized	$ 5,300
Interest and penalties uncertain tax positions recognized reversal		2,600
Reconciliation of beginning and ending amount of liability for uncertain tax positions [Roll Forward]
Additions relating to acquisitions				$ 12,000
Interest and Penalties [Abstract]
Interest and penalties uncertain tax positions recognized until various tax matters are resolved		$ 2,100
Asia [Member] \| Power Solutions [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Income tax audit, years under examination	2004
Asia [Member] \| Power Solutions [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Income tax audit, years under examination	2006

INCOME TAXES, Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income (Loss) Before income Taxes [Abstract]
(Loss) earnings before (benefit) provision for income taxes included (loss) earnings from domestic operations	$ (2,000)	$ (43,300)	$ 6,100
(Loss) earnings before (benefit) provision for income taxes from foreign operations	11,700	(39,200)	19,600
Current [Abstract]
Federal	16,055	(1,163)	1,494
State	115	18	70
Foreign	5,685	(10,172)	5,327
Total	21,855	(11,317)	6,891
Deferred [Abstract]
Federal	(1,312)	(6,272)	1,019
State	(329)	(464)	(64)
Foreign	1,326	335	(1,311)
Total	(315)	(6,401)	(356)
Tax (benefit) provision computed at the Company's effective tax rate	21,540	(17,718)	6,535
Reconciliation of taxes on income computed at the federal statutory rate [Abstract]
Tax (benefit) provision computed at the federal statutory rate	3,375	(28,893)	9,006
Increase (decrease) in taxes resulting from [Abstract]
Different tax rates applicable to foreign operations	(2,531)	(4,427)	(5,353)
Impairment of goodwill & intangibles	0	30,445	0
Increase in (reversal of) liability for uncertain tax positions - net	1,082	(13,974)	3,032
Impact of U.S. Tax Reform	19,171	0	0
Utilization of research and experimentation, solar and foreign tax credits	(272)	(349)	(349)
State taxes, net of federal benefit	(261)	(420)	56
Foreign tax on gain, net of federal benefit	1,223	0	0
Current year (reversal) increase in U.S. valuation allowances	0	0	(343)
Federal tax on profit of foreign disregarded entities net of deferred tax	0	0	872
Other, including qualified production activity credits, SERP/COLI income, under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles	(247)	(100)	(386)
Tax (benefit) provision computed at the Company's effective tax rate	$ 21,540	$ (17,718)	$ 6,535
Increase (decrease) in effective tax rate resulting from [Abstract]
Tax provision computed at the federal statutory rate, percentage	35.00%	35.00%	35.00%
Different tax rates applicable to foreign operations, percentage	(26.00%)	5.00%	(21.00%)
Impairment of goodwill & intangibles, percentage	0.00%	(37.00%)	0.00%
Increase in (reversal of) liability for uncertain tax positions - net, percentage	11.00%	17.00%	12.00%
Impact of U.S. Tax Reform, percentage	199.00%	0.00%	0.00%
Utilization of research and development, solar and foreign tax credits, percentage	(3.00%)	0.00%	(1.00%)
State taxes, net of federal benefit, percentage	(3.00%)	1.00%	0.00%
Foreign tax on gain, net of federal benefit, percentage	13.00%	0.00%	0.00%
Current year (reversal) increase in U.S. valuation allowance, percentage	0.00%	0.00%	(1.00%)
Federal tax on profit of foreign disregarded entities net of deferred tax, percentage	0.00%	0.00%	3.00%
Other, including qualified production activity credits, SERP/COLI income, under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles, percentage	(3.00%)	0.00%	(2.00%)
Tax (benefit) provision computed at the Company's effective tax rate, percentage	223.00%	21.00%	25.00%

INCOME TAXES, Tax Credits and Net Operating Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Tax Credit Carryforward [Line Items]
Tax provision computed at the federal statutory rate, percentage	35.00%	35.00%	35.00%
Additional Income Tax Information [Abstract]
Deferred tax assets, net operating loss carryforwards	$ 10,524	$ 12,891
Federal and State Jurisdiction [Member]
Additional Income Tax Information [Abstract]
Operating loss carryforwards	14,400
Tax credit carryforward	1,100
Tax credit carryforward, valuation allowance	(1,000)
Federal and State Jurisdiction [Member] \| Capital Loss Carryforward [Member]
Additional Income Tax Information [Abstract]
Operating loss carryforwards, valuation allowance	(200)
Federal and State Jurisdiction [Member] \| Array [Member]
Additional Income Tax Information [Abstract]
Operating loss carryforwards	3,700
Federal and State Jurisdiction [Member] \| Connectivity Solutions [Member]
Additional Income Tax Information [Abstract]
Operating loss carryforwards	9,000
Deferred tax assets, net operating loss carryforwards	5,300
Foreign Jurisdictions [Member]
Additional Income Tax Information [Abstract]
Operating loss carryforwards	32,200
Tax credit carryforward	300
Operating loss carryforwards, valuation allowance	(7,300)
Deferred tax assets, net operating loss carryforwards	7,600
Foreign Jurisdictions [Member] \| Capital Loss Carryforward [Member]
Additional Income Tax Information [Abstract]
Tax credit carryforward	$ 200
Macao [Member]
Tax Credit Carryforward [Line Items]
Tax provision computed at the federal statutory rate, percentage	12.00%
People's Republic of China (PRC) [Member]
Tax Credit Carryforward [Line Items]
Tax provision computed at the federal statutory rate, percentage	25.00%

INCOME TAXES, Income Tax Reform (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Tax provision computed at the federal statutory rate, percentage			35.00%	35.00%	35.00%
Untaxed accumulated earnings	$ 199.9		$ 199.9
Income tax rate on illiquid assets			8.00%
Income tax rate on liquid assets			15.50%
Estimated transition tax	17.5
Estimated transition tax, after tax credits	16.0
Number of years of transition tax payable			8 years
Transition tax, interest free, payable in first five year			8.00%
Transition tax, interest free, payable in sixth year			15.00%
Transition tax, interest free, payable in seventh year			20.00%
Transition tax, interest free, payable in eighth year			25.00%
Decrease related to deferred tax assets	$ 2.0		$ 6.3
Decrease related to deferred tax liabilities			4.2
Net adjustment to deferred income tax expense			$ 2.1
Plan [Member]
Income Tax Disclosure [Line Items]
Tax provision computed at the federal statutory rate, percentage		21.00%

INCOME TAXES, Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets [Abstract]
State tax credits	$ 1,033	$ 902
Unfunded pension liability	1,139	1,398
Reserves and accruals	2,828	4,335
Deferred tax assets, net operating loss carryforwards	10,524	12,891
Depreciation	917	1,057
Amortization	0	0
Other accruals	4,915	8,278
Total deferred tax assets	21,356	28,861
Deferred tax liabilities [Abstract]
Reserves and accruals	0	64
Depreciation	989	3,028
Amortization	8,490	15,361
Other accruals	946	973
Total deferred tax liabilities	10,425	19,426
Valuation allowance	8,343	7,485
Net deferred tax assets/(liabilities)	$ 2,588	$ 1,950

DEBT (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Line of Credit Facility [Line Items]
Deferred financing costs	$ 2,300	$ 2,300	$ 2,600
Amortization of deferred financing costs		2,259	1,804	$ 1,432
Debt issuance cost payment		2,012	718	$ 15
Scheduled principal payments [Abstract]
Total long-term debt	122,700	122,700	141,200
Less: Current maturities of long-term debt	(2,641)	(2,641)	(11,395)
Noncurrent portion of long-term debt	$ 120,053	$ 120,053	$ 129,850
KeyBank [Member]
Line of Credit Facility [Line Items]
Interest rate on borrowings outstanding	3.38%	3.38%	3.06%
Effective LIBOR rate		1.63%	0.81%
Basis spread on variable rate		1.75%	2.25%
Interest expense incurred		$ 6,800	$ 6,700
Scheduled principal payments [Abstract]
2018	$ 3,125	3,125
2019	3,125	3,125
2020	6,250	6,250
2021	6,250	6,250
2022	106,250	106,250
Total long-term debt	125,000	125,000	143,798
Less: Current maturities of long-term debt	(3,125)	(3,125)
Noncurrent portion of long-term debt	121,875	121,875
KeyBank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	0	0	0
Unused borrowing capacity	75,000	75,000	50,000
KeyBank [Member] \| 2014 Credit and Security Agreement [Member]
Line of Credit Facility [Line Items]
Deferred financing costs	5,800	$ 5,800
Deferred financing costs amortization period		5 years
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.00%
Term of variable rate		1 month
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| LIBOR [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.75%
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| LIBOR [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		3.00%
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.50%
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Alternate Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.75%
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Alternate Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.00%
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			50,000
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			145,000
KeyBank [Member] \| 2014 Credit and Security Agreement [Member] \| Delayed Draw Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			70,000
KeyBank [Member] \| 2016 Amendment [Member]
Line of Credit Facility [Line Items]
Deferred financing costs					$ 500
Debt issuance cost payment			$ 700
KeyBank [Member] \| 2017 Amendment and Refinancing [Member]
Line of Credit Facility [Line Items]
Amortization of deferred financing costs	1,000
Line of credit facility, maturity date		Dec. 11, 2022
Debt issuance cost payment		$ 1,800
Mandatory amortization payment period		4 years
Additional borrowings	75,000	$ 75,000
Percentage of capital stock of foreign subsidiaries given as collateralized security to line of credit		65.00%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.00%
Term of variable rate		1 month
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| LIBOR [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.375%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| LIBOR [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.75%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.50%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| Alternate Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.375%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| Alternate Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.75%
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	75,000	$ 75,000
KeyBank [Member] \| 2017 Amendment and Refinancing [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 125,000	$ 125,000

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ACCRUED EXPENSES [Abstract]
Sales commissions	$ 2,461	$ 2,066
Subcontracting labor	1,408	1,370
Salaries, bonuses and related benefits	16,531	17,587
Warranty accrual	1,769	2,718
Other	8,339	7,808
Accrued expenses	30,508	31,549
Warranty Accrual Activity Account [Roll Forward]
Balance, beginning of year	2,718	3,659
Charges and costs accrued	268	761
Adjustments related to pre-existing warranties (including changes in estimates)	(969)	(1,063)
Less: Repair costs incurred	(311)	(544)
Currency translation	63	(95)
Balance, end of year	$ 1,769	$ 2,718

SEGMENTS (Details)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

Jun. 30, 2017

USD ($)

Mar. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2016

USD ($)

Mar. 31, 2016

USD ($)

Dec. 31, 2017

USD ($)

Segment

Industry

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

SEGMENTS [Abstract]

Number of industry in which entity operates | Industry

Number of reportable operating segments | Segment

$ 491,611

$ 500,153

$ 567,080

^[1]

$ 119,940

$ 126,386

$ 131,617

$ 113,668

$ 118,539

$ 128,809

$ 131,622

$ 121,182

491,611

500,153

567,080

^[1]

16,338

(76,512)

28,600

^[1]

431,265

426,740

431,265

426,740

578,505

^[1]

6,425

8,223

9,891

^[1]

20,718

21,778

23,009

^[1]

308

2,087

2,114

$ 104,300

106,000

North America [Member]

44,000

Asia [Member]

41,700

Europe [Member]

Reportable Operating Segments [Member] | North America [Member]

20,300

245,834

256,760

304,328

^[1]

257,541

268,935

329,304

^[1]

5,147

(35,722)

11,012

^[1]

172,674

168,061

172,674

168,061

238,930

^[1]

1,734

2,641

2,425

^[1]

10,641

10,522

10,841

^[1]

Reportable Operating Segments [Member] | Asia [Member]

692

1,452

167,680

168,458

188,146

^[1]

249,506

256,202

295,751

^[1]

8,964

(24,360)

8,175

^[1]

152,447

166,028

152,447

166,028

231,063

^[1]

2,617

4,329

4,888

^[1]

6,728

7,976

8,706

^[1]

Reportable Operating Segments [Member] | Europe [Member]

167

1,305

352

78,097

74,935

74,606

^[1]

89,765

86,750

148,735

^[1]

2,227

(16,430)

9,413

^[1]

$ 106,144

$ 92,651

106,144

92,651

108,512

^[1]

2,074

1,253

2,578

^[1]

3,349

3,280

3,462

^[1]

Intersegment Eliminations [Member]

137

310

$ (105,201)

$ (111,734)

$ (206,710)

^[1]

[1]

(Revised)

SEGMENTS, Entity Wide Information (Details)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

Jun. 30, 2017

USD ($)

Mar. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2016

USD ($)

Mar. 31, 2016

USD ($)

Dec. 31, 2017

USD ($)

Customer

Dec. 31, 2016

USD ($)

Customer

Dec. 31, 2015

USD ($)

Customer

$ 491,611

$ 500,153

$ 567,080

^[1]

$ 71,468

$ 75,109

71,468

75,109

Net Sales [Member] | Customer Concentration Risk [Member]

119,940

$ 126,386

$ 131,617

$ 113,668

118,539

$ 128,809

$ 131,622

$ 121,182

$ 491,611

$ 500,153

$ 567,080

^[1]

Number of customers representing sales in excess of ten percent | Customer

Concentration risk percentage

$ 57,700

$ 59,800

$ 74,800

11.70%

12.00%

13.20%

Connectivity Solutions [Member]

Magnetic Solutions [Member]

$ 170,337

$ 168,845

$ 181,697

Power Solutions and Protection [Member]

161,011

155,232

166,182

Asia [Member] | Geographic Concentration Risk [Member]

$ 160,263

176,076

219,201

Concentration risk percentage

36.90%

United States [Member]

$ 245,834

256,760

304,328

People's Republic of China (PRC) [Member]

27,594

29,740

27,594

29,740

30,151

32,666

30,151

32,666

Macao [Member]

167,681

163,971

182,248

United Kingdom [Member]

24,110

21,953

27,552

1,345

1,419

1,345

1,419

Switzerland [Member]

15,366

14,048

18,050

3,632

3,593

3,632

3,593

Slovakia [Member]

14,194

17,622

2,807

7,625

6,574

7,625

6,574

Germany [Member]

All Other Foreign Countries [Member]

13,857

14,104

16,314

10,569

11,695

15,781

Reportable Operating Segments [Member] | North America [Member]

$ 1,121

$ 1,117

1,121

1,117

245,834

256,760

304,328

^[1]

Reportable Operating Segments [Member] | Asia [Member]

257,541

268,935

329,304

^[1]

167,680

168,458

188,146

^[1]

Reportable Operating Segments [Member] | Europe [Member]

249,506

256,202

295,751

^[1]

78,097

74,935

74,606

^[1]

Changes in Accumulated Other Comprehensive (Loss) Income by Component [Roll Forward]

$ 89,765

$ 86,750

$ 148,735

^[1]

[1]

(Revised)

RETIREMENT FUND AND PROFIT SHARING PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Contribution Plan Disclosure [Line Items]
Employer match of the first 1% of compensation contributed by participants	100.00%
Percentage of participant contribution under condition one	1.00%
Employer match of the next 5% compensation contributed by participants, percentage	50.00%
Percentage of employee deferrals under condition two	5.00%
UNITED STATES \| Common Class A [Member]
Defined Contribution Plan Disclosure [Line Items]
Shares owned by plan (in shares)	67,891
UNITED STATES \| Common Class B [Member]
Defined Contribution Plan Disclosure [Line Items]
Shares owned by plan (in shares)	144,276
HONG KONG
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percentage	7.00%
HONG KONG \| Minimum [Member]
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percentage	5.00%
HONG KONG \| Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Employee matching contribution per participant under prior plan	5.00%
Retirement Fund [Member] \| HONG KONG
Defined Contribution Plan Disclosure [Line Items]
Compensation expenses	$ 300	$ 300	$ 300
Retirement Fund [Member] \| HONG KONG \| Common Class A [Member]
Defined Contribution Plan Disclosure [Line Items]
Shares owned by plan (in shares)	3,323
Retirement Fund [Member] \| HONG KONG \| Common Class B [Member]
Defined Contribution Plan Disclosure [Line Items]
Shares owned by plan (in shares)	17,342
401K Plan [Member] \| UNITED STATES
Defined Contribution Plan Disclosure [Line Items]
Compensation expenses	$ 1,200	1,100	1,200
SERP [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension expense	$ 1,700	1,600	1,500
Normal retirement age	65 years
Number of years of service	20 years
Number of years of plan participation	5 years
Percentage of average base compensation payable as normal retirement benefit under the plan	40.00%
Early retirement age	55 years
Number of consecutive calendar years of plan participation to calculate average base compensation	20 years
Number of monthly payments under the death benefit of the plan	120 months
Period for which beneficiary is entitled to receive benefit	shorter of (i) the time necessary to complete 120 monthly payments or (ii) 60 months
Percentage of participant's annual base salary received by beneficiary for one year from date of death	100.00%
Period for which beneficiary will receive hundred percent annual base salary	1 year
Percentage of participant's annual base salary received by beneficiary for years two through five following date of death	50.00%
Period for which beneficiary will receive fifty percent annual base salary	4 years
Components of SERP expense [Abstract]
Service Cost	$ 700	593	552
Interest Cost	673	659	567
Net amortization	375	391	366
Net periodic benefit cost	1,748	1,643	1,485
Summary of information about changes in plan assets, benefit obligation, and the funded status [Abstract]
Fair value of plan assets, beginning of period	0	0
Company contributions	240	129
Benefits paid	(240)	(129)
Fair value of plan assets, end of period	0	0	0
Benefit obligation January 1	16,900	15,576
Service cost	700	593	552
Interest cost	673	659	567
Benefits paid	(240)	(129)
Plan amendments	198	487
Actuarial (gains) losses	903	(286)
Benefit obligation, December 31	19,134	16,900	$ 15,576
Underfunded status, December 31	(19,134)	(16,900)
Accumulated benefit obligation	16,100	13,800
Fair value of life insurance policies and marketable securities held in a rabbi trust	14,000	12,700
Estimated net loss and prior service cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year	400
Expected employer contributions in next fiscal year	300
Expected future benefit payments [Abstract]
2018	317
2019	564
2020	622
2021	622
2222	909
2023 - 2027	5,193
Amounts recognized in accumulated other comprehensive loss, pretax [Abstract]
Prior service cost	1,135	1,172
Net loss	3,732	2,970
Total amounts recognized in accumulated other comprehensive loss	$ 4,867	$ 4,142
Net periodic benefit cost [Abstract]
Discount rate	4.00%	4.25%	4.00%
Rate of compensation increase	3.00%	3.00%	3.00%
Benefit obligation [Abstract]
Discount rate	3.50%	4.00%	4.25%
Rate of compensation increase	3.00%	3.00%	3.00%
SERP [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of monthly payments entitled to beneficiary in case participant dies prior to receiving one hundred twenty monthly payments	60 months

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax stock based compensation cost	$ 3,030	$ 2,817	$ 2,815
Percentage of increments earned for share awards	25.00%
Restricted Stock [Member]
Shares [Roll Forward]
Outstanding, beginning of period (in shares)	558,600
Granted (in shares)	46,400
Vested (in shares)	(141,800)
Forfeited (in shares)	(38,700)
Outstanding, end of period (in shares)	424,500	558,600
Weighted Average Award Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 22.64
Granted (in dollars per share)	24.05
Vested (in dollars per share)	21.59
Forfeited (in dollars per share)	21.70
Outstanding, end of period (in dollars per share)	$ 23.23	$ 22.64
Weighted Average Remaining Contractual Term [Abstract]
Outstanding	3 years	3 years 1 month 6 days
Pretax unrecognized compensation cost	$ 6,600
Period over which compensation cost is expected to be recognized	4 years 10 months 24 days
Restricted Stock [Member] \| Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued (in shares)	46,400	180,000	84,000
2011 Equity Compensation Plan [Member] \| Restricted Stock [Member] \| Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan (in shares)	1,400,000
Common shares available for future issuance (in shares)	592,100

COMMON STOCK (Details) $ / shares in Units, $ in Millions	12 Months Ended
COMMON STOCK (Details) $ / shares in Units, $ in Millions	Dec. 31, 2017 USD ($) Shareholder $ / shares	Dec. 31, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) $ / shares
Class of Stock [Line Items]
Number of days from trigger date to purchase Class B common shares	90 days
Percentage of common stock held by shareholder one	23.20%
Common stock dividends declared \| $	$ 3.3	$ 3.2	$ 3.2
Minimum [Member]
Class of Stock [Line Items]
Percentage of outstanding common stock held by two shareholders	10.00%
Percentage of common stock needs to held by shareholders having more than ten percent of Class A common stock as per class B Protection clause	10.00%
Maximum [Member]
Class of Stock [Line Items]
Percentage shareholding of class B considered as per class B Protection clause	10.00%
Class A [Member]
Class of Stock [Line Items]
Number of shareholders with ownership in excess of ten percent \| Shareholder	1
Common stock dividends declared each quarter (in dollars per share)	$ 0.06	$ 0.06	$ 0.06
Class B [Member]
Class of Stock [Line Items]
Common stock dividends declared each quarter (in dollars per share)	$ 0.07	$ 0.07	$ 0.07

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($) Subsidiary
Future minimum lease payments for operating leases [Abstract]
2018	$ 5,819
2019	4,194
2020	3,717
2021	3,112
2022	1,357
Thereafter	448
Total future minimum lease payments for operating leases	18,647
Rent expense for leases	8,200	$ 7,900	$ 8,800
Other commitments [Abstract]
Outstanding purchase orders related to raw materials	45,400	31,000
Outstanding purchase orders related to capital expenditures	3,000	$ 2,800
Arezzo Revenue Agency [Member]
Loss Contingencies [Line Items]
Noncurrent liability and offsetting indemnification asset	$ 12,000
Setec [Member]
Loss Contingencies [Line Items]
Number of subsidiaries named in the lawsuit \| Subsidiary			3

ACCUMULATED OTHER COMPREHENSIVE LOSS, Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accumulated other comprehensive loss [Abstract]
Foreign currency translation adjustment	$ (16,537)	$ (28,976)	$ (19,305)
Unrealized holding gain on available-for-sale securities, net of taxes of $85, $263 and $265 as of December 31, 2017, 2016 and 2015	145	424	434
Unfunded SERP liability, net of taxes of ($1,635), ($1,398) and ($1,327) as of December 31, 2017, 2016 and 2015	(3,233)	(2,745)	(3,005)
Accumulated other comprehensive loss	(19,625)	(31,297)	(21,876)
Accumulated other comprehensive loss, tax [Abstract]
Unrealized holding gains on available-for-sale securities, tax	85	263	265
Change in unfunded SERP liability, tax	$ (1,635)	$ (1,398)	$ (1,327)

ACCUMULATED OTHER COMPREHENSIVE LOSS, Changes in Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Other comprehensive income (loss) before reclassifications

$ 158,434

$ 233,122

$ 224,273

11,427

(9,676)

Amounts reclassified from accumulated other comprehensive income (loss)

245

255

Net current period other comprehensive income (loss)

11,672

(9,421)

(9,928)

Accumulated Other Comprehensive Income (Loss) [Member]

157,960

158,434

233,122

Changes in Accumulated Other Comprehensive (Loss) Income by Component [Roll Forward]

(31,297)

(21,876)

(11,948)

Foreign Currency Translation Adjustment [Member]

(19,625)

(31,297)

(21,876)

Changes in Accumulated Other Comprehensive (Loss) Income by Component [Roll Forward]

Other comprehensive income (loss) before reclassifications

(28,976)

(19,305)

12,439

(9,671)

Amounts reclassified from accumulated other comprehensive income (loss)

Net current period other comprehensive income (loss)

12,439

(9,671)

Unrealized Holding Gains on Available-for-Sale Securities [Member]

(16,537)

(28,976)

(19,305)

Changes in Accumulated Other Comprehensive (Loss) Income by Component [Roll Forward]

Other comprehensive income (loss) before reclassifications

424

434

(279)

(10)

Amounts reclassified from accumulated other comprehensive income (loss)

Net current period other comprehensive income (loss)

(279)

(10)

Unfunded SERP Liability [Member]

145

424

434

Changes in Accumulated Other Comprehensive (Loss) Income by Component [Roll Forward]

Other comprehensive income (loss) before reclassifications

(2,745)

(3,005)

(733)

Amounts reclassified from accumulated other comprehensive income (loss)

^[1]

245

255

Net current period other comprehensive income (loss)

(488)

260

Selected quarterly financial data [Abstract]

$ (3,233)

$ (2,745)

$ (3,005)

[1]	This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP plan. This expense is allocated between cost of sales and selling, general and administrative expense based upon the employment classification of the plan participants.

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Gain from divestiture of business	$ 0.5
Power Solutions [Member]
Related Party Transaction [Line Items]
Minority interest ownership percentage	49.00%
People's Republic of China Joint Venture [Member]
Related Party Transaction [Line Items]
Inventory purchase payment from joint venture	$ 0.0	$ 0.0	$ 1.5
Extinguishment of debt	$ 0.5

SELECTED QUARTERLY DATA (UNAUDITED) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

$ 119,940

$ 126,386

$ 131,617

$ 113,668

$ 118,539

$ 128,809

$ 131,622

$ 121,182

$ 491,611

$ 500,153

$ 567,080

^[1]

Gross profit

22,075

27,617

29,042

23,278

24,579

26,575

25,692

23,074

102,010

99,908

108,827

Estimated transition tax, after tax credits

(20,787)

^[2]

$ 5,024

$ 3,120

$ 746

$ 3,377

$ 9,710

22,776

^[3]

(100,696)

^[3]

(11,897)

(64,834)

19,197

Net (loss) earnings per share:

Estimated transition tax

17,500

16,000

Revaluation company's deferred tax assets

$ 2,000

6,300

Reversal of provisional non-cash impairment charges

$ 104,300

106,000

$ (2,600)

Class A Common Stock [Member]

Selected quarterly financial data [Abstract]

Common share - basic and diluted (in dollars per share)

$ (2,113)

$ (11,408)

$ 3,331

Net (loss) earnings per share:

$ (1.66)

$ 0.40

$ 0.24

$ 0.05

$ 0.27

$ 0.78

$ 1.83

$ (8.15)

$ (0.97)

$ (5.25)

$ 1.53

Class B Common Stock [Member]

Selected quarterly financial data [Abstract]