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Subsequent Event | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | Subsequent Events Debt Refinance In October 2013, the Company entered into new senior secured credit facilities, pursuant to which the Company was able to reduce interest rates, extend maturities and increase its available liquidity compared to the existing Credit Agreement. Below is a summary of the key terms of the new facilities:
Instrument |  | Amount ($ in millions) |  | Maturity Date |  | Initial Interest Rate
Senior Secured Revolving Credit facility |  | $ | 575.0 |  |  | 10/16/2018 |  | LIBOR plus 1.625%
Senior Secured Term Loan A facility |  | $ | 175.0 |  |  | 10/16/2018 |  | LIBOR plus 1.625%
The Company used the proceeds from borrowings under the new facilities to repay all outstanding amounts under the existing Credit Agreement. Acquisition In October 2013, the Company acquired the stock of Mac Fasteners, Inc. ("Mac Fasteners") for the cash purchase price of approximately $34 million, plus the potential for up to approximately $6 million of contingent consideration, payable based on attainment of certain future operating results. The purchase price remains subject to the finalization of a net working capital adjustment, if any, which is expected to be completed by the end of the first quarter of 2014. Mac Fasteners is in the business of manufacturing and distribution of stainless steel aerospace fasteners, globally utilized by OEMs, aftermarket repair companies, and commercial and military aircraft producers. Mac Fasteners generated approximately $17.5 million in revenue for the twelve months ended September 30, 2013 and will be included in the Company's Aerospace & Defense reportable segment.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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