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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Cash and cash equivalents $ 41,260 $ 43,609
Accounts receivable, less allowances of $3,753 ($3,178 in 2018) 91,767 73,139
Inventories - net 92,732 85,259
Prepaids 7,299 6,205
Prepaid taxes 2,127 3,169
Other current assets 2,036 2,882
TOTAL CURRENT ASSETS 237,221 214,263
Property, plant and equipment - net 112,263 102,955
Operating lease, right-of-use assets 13,011 0
Intangibles - net 12,859 8,458
Goodwill 28,726 15,621
Deferred income taxes 7,462 6,900
Other assets 13,611 10,600
TOTAL ASSETS 425,153 358,797
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 28,727 26,414
Notes payable to banks 9,846 9,042
Operating lease liabilities, current 2,142 0
Current portion of long-term debt 2,279 1,448
Accrued compensation and amounts withheld from employees 14,413 11,153
Accrued expenses and other liabilities 19,354 12,582
Accrued profit-sharing and other benefits 4,312 6,982
Dividends payable 1,092 1,051
Income taxes payable 1,337 815
TOTAL CURRENT LIABILITIES 83,502 69,487
Long-term debt, less current portion 55,222 24,960
Unfunded pension obligation 5,085 5,259
Operating lease liabilities, non-current 8,806 0
Deferred income taxes 3,198 1,711
Other noncurrent liabilities 11,526 8,010
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 5,030,181 and 5,020,410 issued and outstanding, at June 30, 2019 and December 31, 2018, respectively 12,822 12,662
Common shares issued to rabbi trust, 270,860 and 269,630 shares at June 30, 2019 and December 31, 2018, respectively (11,066) (11,008)
Deferred compensation liability 11,066 11,008
Paid-in capital 36,200 34,401
Retained earnings 341,804 334,170
Treasury shares, at cost, 1,381,002 and 1,310,387 shares at June 30, 2019 and December 31, 2018, respectively (76,030) (72,280)
Accumulated other comprehensive loss (56,944) (59,583)
TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS’ EQUITY 257,852 249,370
Noncontrolling interest (38) 0
TOTAL SHAREHOLDERS’ EQUITY 257,814 249,370
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 425,153 $ 358,797