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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 38,326 $ 45,175
Accounts receivable, less allowances of $3,758 ($3,464 in 2020) 108,034 92,686
Inventories - net 108,603 97,537
Prepaid tax expense 2,754 2,371
Other prepaid expenses 10,296 15,289
Other current assets 3,390 3,256
TOTAL CURRENT ASSETS 271,403 256,314
Property, plant and equipment - net 148,097 125,965
Operating lease, right-of-use assets 12,872 13,139
Goodwill 28,695 29,508
Other intangible assets - net 12,939 14,443
Deferred income taxes 8,948 10,863
Other assets 10,639 10,855
TOTAL ASSETS 493,593 461,087
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 38,501 31,646
Notes payable to banks 17,697 17,428
Operating lease liabilities, current 2,100 2,240
Current portion of long-term debt 3,114 5,216
Accrued compensation 21,933 14,736
Accrued expenses and other liabilities 22,055 17,508
Accrued profit-sharing and other benefits 6,871 8,252
Dividends payable 1,261 1,292
Income taxes payable 824 5,456
TOTAL CURRENT LIABILITIES 114,356 103,774
Long-term debt, less current portion 42,424 33,333
Pension obligation 4,923 5,826
Operating lease liabilities, non-current 8,654 8,743
Deferred income taxes 2,687 2,921
Other noncurrent liabilities 11,753 14,421
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,899,945 and 4,902,233 issued and outstanding, at September 30, 2021 and December 31, 2020, respectively 13,171 13,028
Common shares issued to rabbi trust, 243,138 and 265,508 shares at September 30, 2021 and December 31, 2020, respectively (10,102) (10,940)
Deferred compensation liability 10,102 10,940
Paid-in capital 46,956 43,134
Retained earnings 402,720 379,035
Treasury shares, at cost, 1,685,387 and 1,611,927 shares at September 30, 2021 and December 31, 2020, respectively (93,836) (88,568)
Accumulated other comprehensive loss (60,221) (54,551)
TOTAL PREFORMED LINE PRODUCTS, COMPANY SHAREHOLDERS’ EQUITY 308,790 292,078
Noncontrolling interest 6 (9)
TOTAL SHAREHOLDERS’ EQUITY 308,796 292,069
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 493,593 $ 461,087