Company Quick10K Filing
Quick10K
Materion
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$59.03 20 $1,202
10-Q 2019-09-27 Quarter: 2019-09-27
10-Q 2019-06-28 Quarter: 2019-06-28
10-Q 2019-03-29 Quarter: 2019-03-29
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-28 Quarter: 2018-09-28
10-Q 2018-06-29 Quarter: 2018-06-29
10-Q 2018-03-30 Quarter: 2018-03-30
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-07-01 Quarter: 2016-07-01
10-Q 2016-04-01 Quarter: 2016-04-01
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-10-02 Quarter: 2015-10-02
10-Q 2015-07-03 Quarter: 2015-07-03
10-Q 2015-04-30 Quarter: 2015-04-30
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-26 Quarter: 2014-09-26
10-Q 2014-06-27 Quarter: 2014-06-27
10-Q 2014-03-28 Quarter: 2014-03-28
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-11-15 Officers, Exhibits
8-K 2019-10-31 Regulation FD, Exhibits
8-K 2019-10-24 Earnings, Exhibits
8-K 2019-09-24 Enter Agreement, Exhibits
8-K 2019-08-27 Enter Agreement, Exhibits
8-K 2019-08-01 Regulation FD, Exhibits
8-K 2019-07-25 Earnings, Exhibits
8-K 2019-05-08 Shareholder Vote
8-K 2019-05-06 Regulation FD, Exhibits
8-K 2019-05-02 Earnings, Exhibits
8-K 2019-02-21 Regulation FD, Exhibits
8-K 2019-02-14 Earnings, Exhibits
8-K 2018-11-05 Other Events, Exhibits
8-K 2018-11-05 Regulation FD, Exhibits
8-K 2018-10-25 Earnings, Exhibits
8-K 2018-08-01 Regulation FD, Exhibits
8-K 2018-07-26 Earnings, Exhibits
8-K 2018-05-02 Shareholder Vote
8-K 2018-05-01 Regulation FD, Exhibits
8-K 2018-03-19 Officers
8-K 2018-02-23 Regulation FD, Exhibits
ALGN Align Technology 14,397
POOL Pool 7,959
TRS Trimas 1,315
ESTA Establishment Labs Holdings 408
LAWS Lawson Products 341
IVC Invacare 175
SHLO Shiloh Industries 105
VIRC Virco Mfgoration 68
APT Alpha Pro Tech 47
MLSS Milestone Scientific 33
MTRN 2019-09-27
Part 1 - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II Other Information
Item 1. Legal Proceedings
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 4. Mine Safety Disclosures
Item 6. Exhibits
EX-31.1 mtrn-ex3112019q310q.htm
EX-31.2 mtrn-ex3122019q310q.htm
EX-32 mtrn-ex322019q310q.htm
EX-95 mtrn-ex952019q310q.htm

Materion Earnings 2019-09-27

MTRN 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
false--12-31Q3201900011046570.1050.3100.1100.3250060000000600000002714800027148000300000005000000500000000 0001104657 2019-01-01 2019-09-27 0001104657 2019-09-27 0001104657 2018-01-01 2018-09-28 0001104657 2018-06-30 2018-09-28 0001104657 2019-06-29 2019-09-27 0001104657 2018-12-31 0001104657 2017-12-31 0001104657 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2018-06-30 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2019-06-28 0001104657 us-gaap:CommonStockMember 2018-06-30 2018-09-28 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-29 2019-09-27 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 2018-09-28 0001104657 us-gaap:TreasuryStockMember 2018-06-30 2018-09-28 0001104657 us-gaap:CommonStockMember 2019-06-29 2019-09-27 0001104657 us-gaap:TreasuryStockMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEquityMember 2019-06-29 2019-09-27 0001104657 us-gaap:RetainedEarningsMember 2019-09-27 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2018-06-30 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2019-06-29 2019-09-27 0001104657 mtrn:CommonSharesMember 2018-06-30 2018-09-28 0001104657 us-gaap:CommonStockMember 2018-06-29 0001104657 us-gaap:CommonStockMember 2019-06-28 0001104657 mtrn:CommonSharesMember 2019-06-28 0001104657 mtrn:OtherEquityMember 2018-09-28 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-28 0001104657 mtrn:CommonSharesMember 2019-06-29 2019-09-27 0001104657 us-gaap:CommonStockMember 2018-09-28 0001104657 mtrn:CommonSharesMember 2018-06-29 0001104657 mtrn:OtherEquityMember 2018-06-29 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2018-09-28 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-29 0001104657 us-gaap:RetainedEarningsMember 2018-06-29 0001104657 mtrn:CommonSharesMember 2019-09-27 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2019-06-29 2019-09-27 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2018-06-29 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2019-09-27 0001104657 us-gaap:TreasuryStockMember 2019-09-27 0001104657 mtrn:CommonSharesMember 2018-09-28 0001104657 2018-06-29 0001104657 mtrn:OtherEquityMember 2019-06-28 0001104657 mtrn:OtherEquityMember 2018-06-30 2018-09-28 0001104657 mtrn:OtherEquityMember 2019-09-27 0001104657 us-gaap:TreasuryStockMember 2019-06-28 0001104657 us-gaap:CommonStockMember 2019-09-27 0001104657 2019-06-28 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2019-06-28 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-28 0001104657 us-gaap:TreasuryStockMember 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2018-09-28 0001104657 us-gaap:TreasuryStockMember 2018-06-29 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-27 0001104657 us-gaap:CommonStockMember 2019-01-01 2019-09-27 0001104657 us-gaap:CommonStockMember 2018-01-01 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2018-01-01 2018-09-28 0001104657 us-gaap:TreasuryStockMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEquityMember 2017-12-31 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001104657 mtrn:OtherEquityMember 2018-01-01 2018-09-28 0001104657 us-gaap:RetainedEarningsMember 2018-12-31 0001104657 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-27 0001104657 mtrn:OtherEquityMember 2019-01-01 2019-09-27 0001104657 us-gaap:TreasuryStockMember 2019-01-01 2019-09-27 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-27 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-28 0001104657 mtrn:CommonSharesMember 2018-12-31 0001104657 mtrn:CommonSharesMember 2017-12-31 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2019-01-01 2019-09-27 0001104657 mtrn:OtherEquityMember 2018-12-31 0001104657 mtrn:CommonSharesMember 2019-01-01 2019-09-27 0001104657 us-gaap:CommonStockMember 2018-12-31 0001104657 mtrn:CommonSharesMember 2018-01-01 2018-09-28 0001104657 us-gaap:CommonStockMember 2017-12-31 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2018-12-31 0001104657 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001104657 us-gaap:TreasuryStockMember 2018-12-31 0001104657 us-gaap:RetainedEarningsMember 2017-12-31 0001104657 mtrn:CommonSharesHeldInTreasuryMember 2017-12-31 0001104657 us-gaap:TreasuryStockMember 2017-12-31 0001104657 us-gaap:NewAccountingPronouncementMember 2019-01-01 2019-01-01 0001104657 mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:OtherEndMarketMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember 2018-06-30 2018-09-28 0001104657 mtrn:EnergyMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:SemiconductorMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:EnergyMember 2018-06-30 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:OtherEndMarketMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:OtherEndMarketMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember 2018-06-30 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember 2018-06-30 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PrecisionCoatingsMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2019-06-29 2019-09-27 0001104657 mtrn:EnergyMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember 2018-06-30 2018-09-28 0001104657 mtrn:IndustrialComponentsMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:EnergyMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:SemiconductorMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PrecisionCoatingsMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember 2019-06-29 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:AdvancedMaterialTechnologiesMember 2019-06-29 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:EnergyMember mtrn:AdvancedMaterialTechnologiesMember 2018-06-30 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember us-gaap:AllOtherSegmentsMember 2019-06-29 2019-09-27 0001104657 mtrn:IndustrialComponentsMember 2019-06-29 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:PerformanceAlloysandCompositesMember 2018-06-30 2018-09-28 0001104657 mtrn:SemiconductorMember us-gaap:AllOtherSegmentsMember 2018-06-30 2018-09-28 0001104657 mtrn:EnergyMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:EnergyMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:SemiconductorMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:EnergyMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember 2018-01-01 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:IndustrialComponentsMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:EnergyMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember 2019-01-01 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:SemiconductorMember 2019-01-01 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:SemiconductorMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:SemiconductorMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:EnergyMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:AerospaceandDefenseMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:EnergyMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:SemiconductorMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:ConsumerElectronicsMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:SemiconductorMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember 2018-01-01 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember 2019-01-01 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:OtherEndMarketMember 2018-01-01 2018-09-28 0001104657 mtrn:AutomotiveElectronicsMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:EnergyMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:SemiconductorMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:EnergyMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:AutomotiveElectronicsMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:AerospaceandDefenseMember 2018-01-01 2018-09-28 0001104657 mtrn:EnergyMember mtrn:PrecisionCoatingsMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-09-27 0001104657 mtrn:OtherEndMarketMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember mtrn:PerformanceAlloysandCompositesMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember 2019-01-01 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:OtherEndMarketMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember mtrn:AdvancedMaterialTechnologiesMember 2018-01-01 2018-09-28 0001104657 mtrn:IndustrialComponentsMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember 2018-01-01 2018-09-28 0001104657 mtrn:TelecommandDataCenterMember mtrn:PrecisionCoatingsMember 2019-01-01 2019-09-27 0001104657 mtrn:ConsumerElectronicsMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:EnergyMember mtrn:PerformanceAlloysandCompositesMember 2019-01-01 2019-09-27 0001104657 mtrn:TelecommandDataCenterMember mtrn:AdvancedMaterialTechnologiesMember 2019-01-01 2019-09-27 0001104657 mtrn:IndustrialComponentsMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-09-28 0001104657 mtrn:UnbilledReceivablesMember 2019-01-01 2019-09-27 0001104657 us-gaap:TradeAccountsReceivableMember 2019-01-01 2019-09-27 0001104657 us-gaap:TradeAccountsReceivableMember 2019-09-27 0001104657 us-gaap:TradeAccountsReceivableMember 2018-12-31 0001104657 mtrn:UnearnedRevenueMember 2018-12-31 0001104657 mtrn:UnbilledReceivablesMember 2018-12-31 0001104657 mtrn:UnearnedRevenueMember 2019-01-01 2019-09-27 0001104657 mtrn:UnbilledReceivablesMember 2019-09-27 0001104657 mtrn:UnearnedRevenueMember 2019-09-27 0001104657 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-01-01 2018-09-28 0001104657 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-06-30 2018-09-28 0001104657 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-06-29 2019-09-27 0001104657 us-gaap:CostOfSalesMember 2019-06-29 2019-09-27 0001104657 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-01-01 2019-09-27 0001104657 us-gaap:CostOfSalesMember 2019-01-01 2019-09-27 0001104657 us-gaap:CostOfSalesMember 2018-06-30 2018-09-28 0001104657 us-gaap:CostOfSalesMember 2018-01-01 2018-09-28 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2019-09-27 0001104657 mtrn:PrecisionCoatingsMember 2018-12-31 0001104657 mtrn:PrecisionCoatingsMember 2019-09-27 0001104657 mtrn:PerformanceAlloysandCompositesMember 2018-12-31 0001104657 mtrn:PerformanceAlloysandCompositesMember 2019-09-27 0001104657 mtrn:AdvancedMaterialTechnologiesMember 2018-12-31 0001104657 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-09-27 0001104657 us-gaap:PerformanceSharesMember 2018-06-30 2018-09-28 0001104657 us-gaap:RestrictedStockUnitsRSUMember 2019-06-29 2019-09-27 0001104657 us-gaap:StockAppreciationRightsSARSMember 2018-06-30 2018-09-28 0001104657 us-gaap:StockAppreciationRightsSARSMember 2019-06-29 2019-09-27 0001104657 us-gaap:StockAppreciationRightsSARSMember 2018-01-01 2018-09-28 0001104657 us-gaap:PerformanceSharesMember 2019-06-29 2019-09-27 0001104657 us-gaap:StockAppreciationRightsSARSMember 2019-01-01 2019-09-27 0001104657 us-gaap:RestrictedStockUnitsRSUMember 2018-06-30 2018-09-28 0001104657 us-gaap:PerformanceSharesMember 2018-01-01 2018-09-28 0001104657 us-gaap:RestrictedStockUnitsRSUMember 2018-01-01 2018-09-28 0001104657 us-gaap:PerformanceSharesMember 2019-01-01 2019-09-27 0001104657 2018-01-01 2018-12-31 0001104657 us-gaap:PropertyPlantAndEquipmentMember 2019-09-27 0001104657 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-06-30 2018-09-28 0001104657 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-06-29 2019-09-27 0001104657 us-gaap:PensionPlansDefinedBenefitMember 2018-06-30 2018-09-28 0001104657 us-gaap:PensionPlansDefinedBenefitMember 2019-06-29 2019-09-27 0001104657 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-09-28 0001104657 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-09-27 0001104657 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-09-28 0001104657 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-30 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-30 2018-09-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2018-06-29 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-28 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-06-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-29 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-30 2018-09-28 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-29 2019-09-27 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-30 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-29 2019-09-27 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-29 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2018-06-30 2018-09-28 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-29 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-29 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-28 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-06-29 2019-09-27 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-28 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-29 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-06-30 2018-09-28 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-09-28 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-09-27 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-28 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-29 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-09-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2018-09-28 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-29 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-06-29 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2019-09-27 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-09-28 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-09-27 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2017-12-31 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-09-27 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2017-12-31 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-01-01 2018-09-28 0001104657 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2017-12-31 0001104657 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001104657 mtrn:PreciousMetalContractsMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0001104657 mtrn:CopperSwapMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2017-12-31 0001104657 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-12-31 0001104657 us-gaap:RestrictedStockUnitsRSUMember mtrn:DirectorEquityPlanDomain 2019-01-01 2019-09-27 0001104657 us-gaap:RestrictedStockUnitsRSUMember mtrn:StockIncentivePlanDomain 2019-01-01 2019-09-27 0001104657 us-gaap:FairValueInputsLevel1Member 2019-09-27 0001104657 us-gaap:FairValueInputsLevel2Member 2018-12-31 0001104657 us-gaap:FairValueInputsLevel2Member 2019-09-27 0001104657 us-gaap:FairValueInputsLevel1Member 2018-12-31 0001104657 us-gaap:FairValueInputsLevel3Member 2019-09-27 0001104657 us-gaap:FairValueInputsLevel3Member 2018-12-31 0001104657 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember 2019-09-27 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:NondesignatedMember 2018-12-31 0001104657 mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-01-01 2019-09-27 0001104657 us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-01-01 2019-09-27 0001104657 mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-06-29 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesRevenueNetMember 2019-01-01 2019-09-27 0001104657 mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-06-29 2019-09-27 0001104657 us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesRevenueNetMember 2019-06-29 2019-09-27 0001104657 us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-29 2019-09-27 0001104657 us-gaap:OtherAssetsMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherNoncurrentLiabilitiesMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:OtherAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 currency:JPY us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 currency:EUR us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 currency:EUR us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 currency:EUR us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:OtherAssetsMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:OtherNoncurrentLiabilitiesMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 currency:EUR us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 currency:JPY us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 currency:JPY us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 currency:JPY us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:ForeignExchangeForwardMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:OtherCurrentLiabilitiesMember mtrn:PreciousMetalSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 0001104657 us-gaap:OtherCurrentLiabilitiesMember mtrn:CopperSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0001104657 us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-27 xbrli:shares iso4217:USD xbrli:shares iso4217:USD xbrli:pure
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
____________________________________________ 
FORM 10-Q
(Mark One)
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 27, 2019
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to             
Commission file number 001-15885
MATERION CORPORATION
(Exact name of Registrant as specified in charter)
 
Ohio
 
34-1919973
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
6070 Parkland Blvd., Mayfield Heights, Ohio 44124
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code:
(216)-486-4200

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, no par value
MTRN
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes þ       No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes  þ        No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer þ Accelerated filer  ¨
Non-accelerated filer  ¨ Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨    
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes      No  þ

Number of Shares of Common Stock, without par value, outstanding at September 27, 2019: 20,402,976.




PART 1 - FINANCIAL INFORMATION

Item 1. Financial Statements

Materion Corporation and Subsidiaries
Consolidated Statements of Income
(Unaudited)
 
 
 
Third Quarter Ended
 
Nine Months Ended
(Thousands, except per share amounts)
 
September 27, 2019
 
September 28, 2018
 
September 27, 2019
 
September 28, 2018
Net sales
 
$
305,979

 
$
297,193

 
$
905,263

 
$
909,745

Cost of sales
 
241,034

 
232,258

 
701,412

 
724,692

Gross margin
 
64,945

 
64,935

 
203,851

 
185,053

Selling, general, and administrative expense
 
36,311

 
38,872

 
116,266

 
115,807

Research and development expense
 
5,262

 
4,250

 
13,064

 
11,753

Goodwill impairment charges
 
11,560

 

 
11,560

 

Asset impairment charges
 
2,581

 

 
2,581

 

Other—net
 
2,942

 
3,147

 
9,954

 
10,384

Operating profit
 
6,289

 
18,666

 
50,426

 
47,109

Interest expense—net
 
436

 
613

 
1,402

 
2,010

Other non-operating expense—net
 
127

 
800

 
3,484

 
1,679

Income before income taxes
 
5,726

 
17,253

 
45,540

 
43,420

Income tax expense (benefit)
 
2,263

 
(2,713
)
 
9,631

 
1,746

Net income
 
$
3,463

 
$
19,966

 
$
35,909

 
$
41,674

Basic earnings per share:
 
 
 
 
 
 
 
 
Net income per share of common stock
 
$
0.17

 
$
0.99

 
$
1.76

 
$
2.06

Diluted earnings per share:
 
 
 
 
 
 
 
 
Net income per share of common stock
 
$
0.17

 
$
0.97

 
$
1.74

 
$
2.02

Weighted-average number of shares of common stock outstanding:
 
 
 
 
 
 
 
 
Basic
 
20,401

 
20,241

 
20,351

 
20,199

Diluted
 
20,677

 
20,648

 
20,645

 
20,607

















See notes to these consolidated financial statements.



2



Materion Corporation and Subsidiaries
Consolidated Statements of Comprehensive Income
(Unaudited)
 
 
 
Third Quarter Ended
 
Nine Months Ended
 
 
Sept. 27,
 
Sept. 28,
 
Sept. 27,
 
Sept. 28,
(Thousands)
 
2019
 
2018
 
2019
 
2018
Net income
 
$
3,463

 
$
19,966

 
$
35,909

 
$
41,674

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
Foreign currency translation adjustment
 
(463
)
 
116

 
(627
)
 
285

Derivative and hedging activity, net of tax
 
82

 
125

 
9

 
1,213

Pension and post-employment benefit adjustment, net of tax
 
501

 
1,507

 
14,994

 
4,081

Other comprehensive income
 
120

 
1,748

 
14,376

 
5,579

Comprehensive income
 
$
3,583

 
$
21,714

 
$
50,285

 
$
47,253







































See notes to these consolidated financial statements.



3



Materion Corporation and Subsidiaries
Consolidated Balance Sheets
 
 
(Unaudited)
 
 
 
 
Sept. 27,
 
Dec. 31,
(Thousands)
 
2019
 
2018
Assets
 
 
 
 
Current assets
 
 
 
 
Cash and cash equivalents
 
$
94,526

 
$
70,645

Accounts receivable, net
 
165,477

 
130,538

Inventories, net
 
191,956

 
214,871

Prepaid and other current assets
 
23,658

 
23,299

Total current assets
 
475,617

 
439,353

Deferred income taxes
 
1,848

 
5,616

Property, plant, and equipment
 
909,254

 
898,251

Less allowances for depreciation, depletion, and amortization
 
(675,039
)
 
(647,233
)
Property, plant, and equipment—net
 
234,215

 
251,018

Operating lease, right-of-use asset
 
25,054

 

Intangible assets
 
6,692

 
6,461

Other assets
 
17,452

 
7,236

Goodwill
 
78,961

 
90,657

Total Assets
 
$
839,839

 
$
800,341

Liabilities and Shareholders’ Equity
 
 
 
 
Current liabilities
 
 
 
 
Short-term debt
 
$
857

 
$
823

Accounts payable
 
43,675

 
49,622

Salaries and wages
 
40,069

 
47,501

Other liabilities and accrued items
 
35,549

 
33,301

Income taxes

 
1,637

 
2,615

Unearned revenue
 
5,188

 
5,918

Total current liabilities
 
126,975

 
139,780

Other long-term liabilities
 
11,021

 
14,764

Operating lease liabilities
 
19,453

 

Finance lease liabilities
 
17,535

 
15,221

Retirement and post-employment benefits
 
31,026

 
38,853

Unearned income
 
29,270

 
32,563

Long-term income taxes
 
3,121

 
2,993

Deferred income taxes
 
2,175

 
195

Long-term debt
 
1,467

 
2,066

Shareholders’ equity
 
 
 
 
Serial preferred stock (no par value; 5,000 authorized shares, none issued)
 

 

Common stock (no par value; 60,000 authorized shares, issued shares of 27,148 at September 27 and December 31)
 
247,651

 
234,704

Retained earnings
 
577,409

 
548,374

Common stock in treasury
 
(187,464
)
 
(175,426
)
Accumulated other comprehensive loss
 
(43,858
)
 
(58,234
)
Other equity
 
4,058

 
4,488

Total shareholders' equity
 
597,796

 
553,906

Total Liabilities and Shareholders’ Equity
 
$
839,839

 
$
800,341






See the notes to these consolidated financial statements.



4



Materion Corporation and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited) 
 
 
Nine Months Ended
 
 
Sept. 27,
 
Sept. 28,
(Thousands)
 
2019
 
2018
Cash flows from operating activities:
 
 
 
 
Net income
 
$
35,909

 
$
41,674

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
Depreciation, depletion, and amortization
 
31,955

 
26,506

Amortization of deferred financing costs in interest expense
 
720

 
720

Stock-based compensation expense (non-cash)
 
5,230

 
3,782

Deferred income tax expense (benefit)
 
5,725

 
(5,341
)
Impairment charges
 
14,141

 

Net pension curtailments and settlements
 
3,296

 
359

Changes in assets and liabilities:
 
 
 

Decrease (increase) in accounts receivable

 
(36,146
)
 
(10,274
)
Decrease (increase) in inventory
 
22,089

 
19,754

Decrease (increase) in prepaid and other current assets
 
(416
)
 
4,648

Increase (decrease) in accounts payable and accrued expenses
 
(14,114
)
 
(10,290
)
Increase (decrease) in unearned revenue
 
(728
)
 
2,365

Increase (decrease) in interest and taxes payable

 
(1,499
)
 
5,557

Domestic pension plan contributions
 
(4,500
)
 
(38,000
)
Other-net
 
(2,126
)
 
7,783

Net cash provided by operating activities
 
59,536

 
49,243

Cash flows from investing activities:
 
 
 
 
Payments for purchase of property, plant, and equipment
 
(18,193
)
 
(21,809
)
Payments for mine development
 
(1,903
)
 
(5,192
)
Proceeds from sale of property, plant, and equipment
 
17

 
26

Net cash used in investing activities
 
(20,079
)
 
(26,975
)
Cash flows from financing activities:
 
 
 
 
Repayment of long-term debt
 
(599
)
 
(513
)
Principal payments under finance lease obligations
 
(894
)
 
(573
)
Cash dividends paid
 
(6,612
)
 
(6,262
)
Repurchase of common stock
 
(199
)
 

Payments of withholding taxes for stock-based compensation awards
 
(4,832
)
 
(3,006
)
Deferred financing costs
 
(2,018
)
 

Net cash used in financing activities
 
(15,154
)
 
(10,354
)
Effects of exchange rate changes
 
(422
)
 
(146
)
Net change in cash and cash equivalents
 
23,881

 
11,768

Cash and cash equivalents at beginning of period
 
70,645

 
41,844

Cash and cash equivalents at end of period
 
$
94,526

 
$
53,612






See notes to these consolidated financial statements.



5



Materion Corporation and Subsidiaries
Consolidated Statements of Shareholders' Equity
(Unaudited)
 
Common Shares
 
Shareholders' Equity
(Thousands, except per share amounts)
Common Shares
 
Common Shares Held in Treasury
 
Common
Stock
 
Retained
Earnings
 
Common
Stock in
Treasury
 
Accumulated Other
Comprehensive
Income (Loss)
 
Other
Equity
 
Total
Balance at June 28, 2019
20,399

 
(6,749
)
 
$
245,785

 
$
576,211

 
$
(187,224
)
 
$
(43,978
)
 
$
3,991

 
$
594,785

Net income

 

 

 
3,463

 

 

 

 
3,463

Other comprehensive income (loss)

 

 

 

 

 
120

 

 
120

Cash dividends declared ($0.11 per share)

 

 

 
(2,244
)
 

 

 

 
(2,244
)
Stock-based compensation activity
5

 
5

 
1,836

 
(21
)
 
(126
)
 

 

 
1,689

Payments of withholding taxes for stock-based compensation awards
(2
)
 
(2
)
 

 

 
(69
)
 

 

 
(69
)
Directors’ deferred compensation
1

 
1

 
30

 

 
(45
)
 

 
67

 
52

Balance at September 27, 2019
20,403

 
(6,745
)
 
$
247,651

 
$
577,409

 
$
(187,464
)
 
$
(43,858
)
 
$
4,058

 
$
597,796

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 29, 2018
20,236

 
(6,912
)
 
$
230,763

 
$
553,523

 
$
(173,825
)
 
$
(99,106
)
 
$
4,386

 
$
515,741

Net income

 

 

 
19,966

 

 

 

 
19,966

Other comprehensive income (loss)

 

 

 

 

 
1,389

 

 
1,389

Net pension curtailments and settlements

 

 

 

 

 
359

 

 
359

Cash dividends declared ($0.105 per share)

 

 

 
(2,125
)
 

 

 

 
(2,125
)
Stock-based compensation activity
11

 
12

 
2,074

 
(14
)
 
(442
)
 

 

 
1,618

Payments of withholding taxes for stock-based compensation awards
(5
)
 
(5
)
 

 

 
(241
)
 

 

 
(241
)
Directors’ deferred compensation
2

 
1

 
9

 

 
(24
)
 

 
51

 
36

Balance at September 28, 2018
20,244

 
(6,904
)
 
$
232,846

 
$
571,350

 
$
(174,532
)
 
$
(97,358
)
 
$
4,437

 
$
536,743







6



 
Common Shares
 
Shareholders' Equity
(Thousands, except per share amounts)
Common Shares
 
Common Shares Held in Treasury
 
Common
Stock
 
Retained
Earnings
 
Common
Stock in
Treasury
 
Accumulated Other
Comprehensive
Income (Loss)
 
Other
Equity
 
Total
Balance at December 31, 2018
20,242

 
(6,906
)
 
$
234,704

 
$
548,374

 
$
(175,426
)
 
$
(58,234
)
 
$
4,488

 
$
553,906

Net income

 

 

 
35,909

 

 

 

 
35,909

Other comprehensive income (loss)

 

 

 

 

 
11,080

 

 
11,080

Net pension curtailments and settlements

 

 

 

 

 
3,296

 

 
3,296

Cumulative effect of accounting change

 

 

 
(179
)
 

 

 

 
(179
)
Cash dividends declared ($0.325 per share)

 

 

 
(6,612
)
 

 

 

 
(6,612
)
Stock-based compensation activity
252

 
252

 
12,882

 
(83
)
 
(7,569
)
 

 

 
5,230

Payments of withholding taxes for stock-based compensation awards
(89
)
 
(89
)
 

 

 
(4,832
)
 

 

 
(4,832
)
Repurchase of shares
(5
)
 
(5
)
 

 

 
(199
)
 

 

 
(199
)
Directors’ deferred compensation
3

 
3

 
65

 

 
562

 

 
(430
)
 
197

Balance at September 27, 2019
20,403

 
(6,745
)
 
$
247,651

 
$
577,409

 
$
(187,464
)
 
$
(43,858
)
 
$
4,058

 
$
597,796

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
20,107

 
(7,042
)
 
$
223,484

 
$
536,116

 
$
(166,128
)
 
$
(102,937
)
 
$
4,446

 
$
494,981

Net income

 

 

 
41,674

 

 

 

 
41,674

Other comprehensive income (loss)

 

 

 

 

 
4,645

 

 
4,645

Net pension curtailments and settlements

 

 

 

 

 
359

 

 
359

Tax Cuts and Jobs Act Reclassification

 

 

 
(575
)
 

 
575

 

 

Cumulative effect of accounting change

 

 

 
425

 

 

 

 
425

Cash dividends declared ($0.31 per share)

 

 

 
(6,262
)
 

 

 

 
(6,262
)
Stock-based compensation activity
192

 
193

 
9,294

 
(28
)
 
(5,484
)
 

 

 
3,782

Payments of withholding taxes for stock-based compensation awards
(58
)
 
(58
)
 

 

 
(3,006
)
 

 

 
(3,006
)
Directors’ deferred compensation
3

 
3

 
68

 

 
86

 

 
(9
)
 
145

Balance at September 28, 2018
20,244

 
(6,904
)
 
$
232,846

 
$
571,350

 
$
(174,532
)
 
$
(97,358
)
 
$
4,437

 
$
536,743


















See notes to these consolidated financial statements.



7


Materion Corporation and Subsidiaries
Notes to Consolidated Financial Statements
(Unaudited)



Note A — Accounting Policies

Basis of Presentation: In management’s opinion, the accompanying consolidated financial statements of Materion Corporation and its subsidiaries (referred to herein as the Company, our, we, or us) contain all of the adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods reported. All adjustments were of a normal and recurring nature. Certain amounts in prior periods have been reclassified to conform to the 2019 consolidated financial statement presentation.

These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's 2018 Annual Report on Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year.
New Pronouncements Adopted: In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 (Topic 842), Leases, which eliminates the off-balance-sheet accounting for leases. This guidance requires lessees to report their operating leases as both an asset and liability on the balance sheet and disclose key information about leasing arrangements. The Company adopted this guidance as of January 1, 2019 using the modified retrospective method and applied it retrospectively through a cumulative-effect adjustment to retained earnings. The Company applied the transitional package of practical expedients allowed by the standard to not reassess the identification, classification, and initial direct costs of leases commencing before this ASU's effective date; however, the Company did not elect the hindsight transitional practical expedient. The Company also applied the practical expedient to not separate lease and non-lease components to new leases as well as existing leases through transition. The Company made an accounting policy election not to apply recognition requirements of the guidance to short-term leases.

Results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with legacy generally accepted accounting principles.

The Company recorded a net reduction to opening retained earnings of $0.2 million as of January 1, 2019 due to the cumulative impact of adopting Topic 842, with the impact primarily related to derecognition of a built-to-suit lease. Refer to Note J for additional disclosures relating to the Company's leasing arrangements.
In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which intended to simplify the subsequent measurement of goodwill. This ASU eliminates the requirement for an entity to calculate the implied fair value of goodwill in measuring an impairment charge. Instead, an entity will perform its annual, or interim, goodwill impairment testing by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount by which the carrying amount exceeds the fair value. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company's consolidated financial statements. Refer to Note F for additional disclosures related to goodwill.
In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which amends and simplifies existing guidance to allow companies to more accurately present the economic effects of risk management activities in the financial statements. The Company adopted this guidance as of January 1, 2019, and the adoption did not have a material effect on the Company’s consolidated financial statements.

New Pronouncements Issued: In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses. This ASU requires an entity to change its accounting approach in determining impairment of certain financial instruments, including trade receivables, from an “incurred loss” to a “current expected credit loss” model. The standard will be effective for fiscal years beginning after December 15, 2019, including interim periods within such fiscal years. Early adoption is permitted. The Company is currently assessing the effect that this ASU will have on its financial position, results of operations, and disclosures.
No other recently issued or effective ASUs had, or are expected to have, a material effect on the Company's results of operations, financial condition, or liquidity.




8


Note B — Segment Reporting
 
The Company has the following reportable segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other. The Company’s reportable segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Executive Officer, the Company's Chief Operating Decision Maker, in determining how to allocate the Company’s resources and evaluate performance.
Performance Alloys and Composites produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass materials.
Advanced Materials produces advanced chemicals, microelectric packaging, precious metal, non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal preforms, high temperature braze materials, and ultra-fine wire.
Precision Coatings produces thin film coatings, optical filter materials, sputter-coated, and precision-converted thin film materials.
The Other reportable segment includes unallocated corporate costs and assets.

(Thousands)
 
Performance
Alloys and
Composites
 
Advanced Materials
 
Precision Coatings
 
Other
 
Total
Third Quarter 2019
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
130,704

 
$
147,650

 
$
27,625

 
$

 
$
305,979

Intersegment sales 
 

 
17,161

 

 

 
17,161

Operating profit (loss)
 
18,780

 
6,202

 
(11,198
)
 
(7,495
)
 
6,289

Third Quarter 2018
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
124,103

 
$
144,072

 
$
29,018

 
$

 
$
297,193

Intersegment sales
 
2

 
13,265

 

 

 
13,267

Operating profit (loss)
 
16,728

 
6,882

 
3,499

 
(8,443
)
 
18,666

 
 
 
 
 
 
 
 
 
 
 
First Nine Months 2019
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
393,048

 
$
424,913

 
$
87,302

 
$

 
$
905,263

Intersegment sales
 
15

 
53,634

 

 

 
53,649

Operating profit (loss)
 
57,066

 
19,421

 
(5,184
)
 
(20,877
)