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Shareholders Equity | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
Shareholders Equity | NOTE D – SHAREHOLDERS EQUITY The following table reflects the changes in shareholders equity for the nine months ended September 30, 2021 and 2020:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |
|  | Common Shares |  |  | Common Shares Issued to Rabbi Trust |  |  | Deferred Compensation Liability |  |  | Paid in Capital |  |  | Retained Earnings |  |  | Treasury Shares |  |  | Cumulative Translation Adjustment |  |  | Unrecognized Pension Benefit Cost |  |  | Total Preformed Line Products Company Equity |  |  | Noncontrolling Interests |  |  | Total Equity |
| (In thousands, except share and per share data) |  |  |  |  |  |  |
Balance at December 31, 2020 |  | $ | 13,028 |  |  | $ | (10,940 | ) |  | $ | 10,940 |  |  | $ | 43,134 |  |  | $ | 379,035 |  |  | $ | (88,568 | ) |  | $ | (47,847 | ) |  | $ | (6,704 | ) |  | $ | 292,078 |  |  | $ | (9 | ) |  | $ | 292,069 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,179 |  |  |  |  |  |  |  |  |  |  |  |  | 7,179 |  |  |  | (2 | ) |  |  | 7,177 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,829 | ) |  |  |  |  |  | (4,829 | ) |  |  |  |  |  | (4,829 | )
Recognized net actuarial gain, net of tax provision of $35 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 114 |  |  |  | 114 |  |  |  |  |  |  | 114 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,464 |  |  |  | (2 | ) |  |  | 2,462 |
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 1,034 |  |  |  | (40 | ) |  |  |  |  |  |  |  |  |  |  |  | 994 |  |  |  |  |  |  | 994 |
Purchase of 52,590 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,678 | ) |  |  |  |  |  |  |  |  | (3,678 | ) |  |  |  |  |  | (3,678 | )
Issuance of 63,316 common shares |  |  | 127 |  |  |  |  |  |  |  |  |  | 270 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 397 |  |  |  |  |  |  | 397 |
Common shares distributed from rabbi trust of 3,727, net |  |  |  |  |  | 120 |  |  |  | (120 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  | (116 | ) |  |  | (990 | ) |  |  |  |  |  |  |  |  |  |  |  | (1,106 | ) |  |  |  |  |  | (1,106 | )
Balance at March 31, 2021 |  | $ | 13,155 |  |  | $ | (10,820 | ) |  | $ | 10,820 |  |  | $ | 44,322 |  |  | $ | 385,184 |  |  | $ | (92,246 | ) |  | $ | (52,676 | ) |  | $ | (6,590 | ) |  | $ | 291,149 |  |  | $ | (11 | ) |  | $ | 291,138 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,869 |  |  |  |  |  |  |  |  |  |  |  |  | 8,869 |  |  |  | 22 |  |  |  | 8,891 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,311 |  |  |  |  |  |  | 4,311 |  |  |  |  |  |  | 4,311 |
Recognized net actuarial gain, net of tax provision of $35 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 113 |  |  |  | 113 |  |  |  |  |  |  | 113 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,293 |  |  |  | 22 |  |  |  | 13,315 |
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 893 |  |  |  | (40 | ) |  |  |  |  |  |  |  |  |  |  |  | 853 |  |  |  |  |  |  | 853 |
Purchase of 13,800 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,046 | ) |  |  |  |  |  |  |  |  | (1,046 | ) |  |  |  |  |  | (1,046 | )
Issuance of 7,400 common shares |  |  | 15 |  |  |  |  |  |  |  |  |  | 349 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 364 |  |  |  |  |  |  | 364 |
Common shares issued to rabbi trust of 400, net |  |  |  |  |  | (30 | ) |  |  | 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (981 | ) |  |  |  |  |  |  |  |  |  |  |  | (981 | ) |  |  |  |  |  | (981 | )
Balance at June 30, 2021 |  | $ | 13,170 |  |  | $ | (10,850 | ) |  | $ | 10,850 |  |  | $ | 45,564 |  |  | $ | 393,032 |  |  | $ | (93,292 | ) |  | $ | (48,365 | ) |  | $ | (6,477 | ) |  | $ | 303,632 |  |  | $ | 11 |  |  | $ | 303,643 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,708 |  |  |  |  |  |  |  |  |  |  |  |  | 10,708 |  |  |  | (5 | ) |  |  | 10,703 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,504 | ) |  |  |  |  |  | (5,504 | ) |  |  |  |  |  | (5,504 | )
Recognized net actuarial gain, net of tax provision of $39 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 125 |  |  |  | 125 |  |  |  |  |  |  | 125 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,329 |  |  |  | (5 | ) |  |  | 5,324 |
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 1,364 |  |  |  | (40 | ) |  |  |  |  |  |  |  |  |  |  |  | 1,324 |  |  |  |  |  |  | 1,324 |
Purchase of 7,070 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (544 | ) |  |  |  |  |  |  |  |  | (544 | ) |  |  |  |  |  | (544 | )
Issuance of 456 common shares |  |  | 1 |  |  |  |  |  |  |  |  |  | 28 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29 |  |  |  |  |  |  | 29 |
Common shares distributed from rabbi trust of 19,043, net |  |  |  |  |  | 748 |  |  |  | (748 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (980 | ) |  |  |  |  |  |  |  |  |  |  |  | (980 | ) |  |  |  |  |  | (980 | )
Balance at September 30, 2021 |  | $ | 13,171 |  |  | $ | (10,102 | ) |  | $ | 10,102 |  |  | $ | 46,956 |  |  | $ | 402,720 |  |  | $ | (93,836 | ) |  | $ | (53,869 | ) |  | $ | (6,352 | ) |  | $ | 308,790 |  |  | $ | 6 |  |  | $ | 308,796 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |
|  | Common Shares |  |  | Common Shares Issued to Rabbi Trust |  |  | Deferred Compensation Liability |  |  | Paid in Capital |  |  | Retained Earnings |  |  | Treasury Shares |  |  | Cumulative Translation Adjustment |  |  | Unrecognized Pension Benefit Cost |  |  | Total Preformed Line Products Company Equity |  |  | Noncontrolling Interests |  |  | Total Equity |
| (In thousands, except share and per share data) |  |  |  |  |  |  |
Balance at December 31, 2019 |  | $ | 12,848 |  |  | $ | (10,981 | ) |  | $ | 10,981 |  |  | $ | 38,854 |  |  | $ | 353,292 |  |  | $ | (79,106 | ) |  | $ | (51,682 | ) |  | $ | (5,671 | ) |  | $ | 268,535 |  |  | $ | 33 |  |  | $ | 268,568 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,698 |  |  |  |  |  |  |  |  |  |  |  |  | 3,698 |  |  |  | (45 | ) |  |  | 3,653 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (16,881 | ) |  |  |  |  |  | (16,881 | ) |  |  |  |  |  | (16,881 | )
Recognized net actuarial gain, net of tax provision of $31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 98 |  |  |  | 98 |  |  |  |  |  |  | 98 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13,085 | ) |  |  | (45 | ) |  |  | (13,130 | )
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 976 |  |  |  | (43 | ) |  |  |  |  |  |  |  |  |  |  |  | 933 |  |  |  |  |  |  | 933 |
Purchase of 75,246 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,980 | ) |  |  |  |  |  |  |  |  | (3,980 | ) |  |  |  |  |  | (3,980 | )
Issuance of 77,381 common shares |  |  | 155 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 155 |  |  |  |  |  |  | 155 |
Common shares distributed from rabbi trust of 3,358, net |  |  |  |  |  | 101 |  |  |  | (101 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  | (83 | ) |  |  | (963 | ) |  |  |  |  |  |  |  |  |  |  |  | (1,046 | ) |  |  |  |  |  | (1,046 | )
Balance at March 31, 2020 |  | $ | 13,003 |  |  | $ | (10,880 | ) |  | $ | 10,880 |  |  | $ | 39,747 |  |  | $ | 355,984 |  |  | $ | (83,086 | ) |  | $ | (68,563 | ) |  | $ | (5,573 | ) |  | $ | 251,512 |  |  | $ | (12 | ) |  | $ | 251,500 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,481 |  |  |  |  |  |  |  |  |  |  |  |  | 10,481 |  |  |  | 7 |  |  |  | 10,488 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,472 |  |  |  |  |  |  | 5,472 |  |  |  |  |  |  | 5,472 |
Recognized net actuarial gain, net of tax provision of $31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 91 |  |  |  | 91 |  |  |  |  |  |  | 91 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,044 |  |  |  | 7 |  |  |  | 16,051 |
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 612 |  |  |  | (26 | ) |  |  |  |  |  |  |  |  |  |  |  | 586 |  |  |  |  |  |  | 586 |
Purchase of 29,724 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,011 | ) |  |  |  |  |  |  |  |  | (3,011 | ) |  |  |  |  |  | (3,011 | )
Issuance of 525 common shares |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  | 26 |
Common shares distributed from rabbi trust of 525, net |  |  |  |  |  | (30 | ) |  |  | 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (996 | ) |  |  |  |  |  |  |  |  |  |  |  | (996 | ) |  |  |  |  |  | (996 | )
Balance at June 30, 2020 |  | $ | 13,003 |  |  | $ | (10,910 | ) |  | $ | 10,910 |  |  | $ | 40,385 |  |  | $ | 365,443 |  |  | $ | (86,097 | ) |  | $ | (63,091 | ) |  | $ | (5,482 | ) |  | $ | 264,161 |  |  | $ | (5 | ) |  | $ | 264,156 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,954 |  |  |  |  |  |  |  |  |  |  |  |  | 12,954 |  |  |  | 8 |  |  |  | 12,962 |
Foreign currency translation adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,949 |  |  |  |  |  |  | 2,949 |  |  |  |  |  |  | 2,949 |
Recognized net actuarial gain, net of tax provision of $23 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 75 |  |  |  | 75 |  |  |  |  |  |  | 75 |
Total comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,978 |  |  |  | 8 |  |  |  | 15,986 |
Share-based compensation |  |  |  |  |  |  |  |  |  |  |  | 1,458 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,458 |  |  |  |  |  |  | 1,458 |
Purchase of 24,335 common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,223 | ) |  |  |  |  |  |  |  |  | (1,223 | ) |  |  |  |  |  | (1,223 | )
Issuance of 622 common shares |  |  | 10 |  |  |  |  |  |  |  |  |  | 204 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 214 |  |  |  |  |  |  | 214 |
Common shares distributed from rabbi trust of 622, net |  |  |  |  |  | (30 | ) |  |  | 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 |
Cash dividends declared - $.20 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,013 | ) |  |  |  |  |  |  |  |  |  |  |  | (1,013 | ) |  |  |  |  |  | (1,013 | )
Balance at September 30, 2020 |  | $ | 13,013 |  |  | $ | (10,940 | ) |  | $ | 10,940 |  |  | $ | 42,047 |  |  | $ | 377,384 |  |  | $ | (87,320 | ) |  | $ | (60,142 | ) |  | $ | (5,407 | ) |  | $ | 279,575 |  |  | $ | 3 |  |  | $ | 279,578 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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