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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 30,103 $ 36,406
Accounts receivable, less allowances of $4,931 ($3,744 in 2021) 123,122 98,203
Inventories, net 127,408 114,507
Prepaid tax expense 20,855 19,778
Other current assets 5,561 3,217
TOTAL CURRENT ASSETS 307,049 272,111
Property, plant and equipment, net 157,444 149,774
Operating lease, right-of-use assets 10,987 12,400
Goodwill 34,792 28,194
Other intangible assets, net 15,104 12,039
Deferred income taxes 5,551 3,839
Other assets 6,129 10,661
TOTAL ASSETS 537,056 489,018
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 49,217 42,376
Notes payable to banks 16,856 16,423
Operating lease liabilities, current 1,959 1,986
Current portion of long-term debt 3,217 3,116
Accrued compensation and other benefits 24,313 21,703
Accrued expenses and other liabilities 22,315 17,522
Dividends payable 1,238 1,301
Income taxes payable 555 1,108
TOTAL CURRENT LIABILITIES 119,670 105,535
Long-term debt, less current portion 57,502 40,048
Pension obligation 3,056 3,653
Operating lease liabilities, non-current 6,959 8,154
Deferred income taxes 4,246 2,791
Other noncurrent liabilities 12,936 12,737
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,940,094 and 4,907,143 issued and outstanding, at June 30, 2022 and December 31, 2021, respectively 13,303 13,185
Common shares issued to rabbi trust, 244,485 and 243,138 shares at June 30, 2022 and December 31, 2021, respectively (10,231) (10,102)
Deferred compensation liability 10,231 10,102
Paid-in capital 49,918 47,814
Retained earnings 434,718 410,673
Treasury shares, at cost, 1,714,822 and 1,685,387 shares at June 30, 2022 and December 31, 2021, respectively (95,631) (93,836)
Accumulated other comprehensive loss (69,629) (61,719)
TOTAL PREFORMED LINE PRODUCTS, COMPANY SHAREHOLDERS’ EQUITY 332,679 316,117
Noncontrolling interest 8 (17)
TOTAL SHAREHOLDERS’ EQUITY 332,687 316,100
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 537,056 $ 489,018