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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 28,002 $ 30,737
Accounts receivable, less allowances of $3,221 ($3,210 in 2016) 79,686 63,415
Inventories - net 75,498 74,484
Prepaids 4,040 3,353
Prepaid taxes 5,945 8,682
Other current assets 2,345 8,436
TOTAL CURRENT ASSETS 195,516 189,107
Property, plant and equipment - net 107,234 105,104
Intangibles - net 10,468 10,475
Goodwill 16,478 15,769
Deferred income taxes 10,897 10,208
Other assets 10,978 10,274
TOTAL ASSETS 351,571 340,937
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 24,145 21,978
Notes payable to banks 1,379 1,315
Current portion of long-term debt 1,448 1,448
Accrued compensation and amounts withheld from employees 12,355 10,040
Accrued expenses and other liabilities 13,660 12,331
Accrued profit-sharing and other benefits 4,000 6,251
Dividends payable 1,055 1,037
Income taxes payable 1,038 1,055
TOTAL CURRENT LIABILITIES 59,080 55,455
Long-term debt, less current portion 36,570 42,943
Unfunded pension obligation 10,298 10,423
Deferred income taxes 2,201 2,078
Other noncurrent liabilities 6,825 6,495
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 5,115,981 and 5,117,753 issued and outstanding, at June 30, 2017 and December 31, 2016, respectively 12,514 12,508
Common shares issued to rabbi trust, 297,840 and 297,281 shares at June 30, 2017 and December 31, 2016, respectively (12,089) (12,054)
Deferred compensation liability 12,089 12,054
Paid-in capital 25,916 24,629
Retained earnings 306,979 303,415
Treasury shares, at cost, 1,140,816 and 1,136,443 shares at June 30, 2017 and December 31, 2016, respectively (59,880) (59,640)
Accumulated other comprehensive loss (48,932) (57,369)
TOTAL SHAREHOLDERS’ EQUITY 236,597 223,543
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 351,571 $ 340,937