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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 36,507 $ 38,929
Accounts receivable, less allowances of $3,340 ($3,849 in 2019) 94,840 83,517
Inventories - net 95,454 95,718
Prepaids 6,518 6,921
Prepaid taxes 1,851 2,601
Other current assets 3,051 4,289
TOTAL CURRENT ASSETS 238,221 231,975
Property, plant and equipment - net 124,261 124,018
Operating lease, right-of-use assets 12,989 12,453
Intangibles - net 13,786 15,116
Goodwill 27,048 27,840
Deferred income taxes 6,275 7,564
Other assets 13,686 14,605
TOTAL ASSETS 436,266 433,571
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 30,866 28,282
Notes payable to banks 12,402 8,696
Operating lease liabilities, current 2,170 2,062
Current portion of long-term debt 2,789 3,354
Accrued compensation and amounts withheld from employees 15,216 11,817
Accrued expenses and other liabilities 13,564 16,718
Accrued profit-sharing and other benefits 4,443 7,213
Dividends payable 1,220 1,173
Income taxes payable 1,668 1,758
TOTAL CURRENT LIABILITIES 84,338 81,073
Long-term debt, less current portion 57,657 53,722
Unfunded pension obligation 5,148 5,278
Operating lease liabilities, non-current 8,642 8,246
Deferred income taxes 2,879 3,116
Other noncurrent liabilities 13,446 13,568
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,934,506 and 4,992,979 issued and outstanding, at June 30, 2020 and December 31, 2019, respectively 13,003 12,848
Common shares issued to rabbi trust, 264,886 and 267,641 shares at June 30, 2020 and December 31, 2019, respectively (10,910) (10,981)
Deferred compensation liability 10,910 10,981
Paid-in capital 40,385 38,854
Retained earnings 365,443 353,292
Treasury shares, at cost, 1,567,692 and 1,431,235 shares at June 30, 2020 and December 31, 2019, respectively (86,097) (79,106)
Accumulated other comprehensive loss (68,573) (57,353)
TOTAL PREFORMED LINE PRODUCTS, COMPANY SHAREHOLDERS’ EQUITY 264,161 268,535
Noncontrolling interest (5) 33
TOTAL SHAREHOLDERS’ EQUITY 264,156 268,568
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 436,266 $ 433,571