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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 30,949 $ 36,406
Accounts receivable, less allowances of $5,677 ($3,744 in 2021) 122,936 98,203
Inventories, net 134,582 114,507
Prepaid tax expense 16,447 19,778
Other current assets 3,251 3,217
TOTAL CURRENT ASSETS 308,165 272,111
Property, plant and equipment, net 159,884 149,774
Operating lease, right-of-use assets 9,973 12,400
Goodwill 26,347 28,194
Other intangible assets, net 13,718 12,039
Deferred income taxes 5,904 3,839
Other assets 6,723 10,661
TOTAL ASSETS 530,714 489,018
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 48,124 42,376
Notes payable to banks 17,917 16,423
Operating lease liabilities, current 1,637 1,986
Current portion of long-term debt 3,183 3,116
Accrued compensation and other benefits 28,431 21,703
Accrued expenses and other liabilities 17,534 17,522
Dividends payable 1,277 1,301
Income taxes payable 2,359 1,108
TOTAL CURRENT LIABILITIES 120,462 105,535
Long-term debt, less current portion 55,944 40,048
Pension obligation 560 3,653
Operating lease liabilities, non-current 6,331 8,154
Deferred income taxes 3,858 2,791
Other noncurrent liabilities 12,552 12,737
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,919,841 and 4,907,143 issued and outstanding, at September 30, 2022 and December 31, 2021,respectively 13,316 13,185
Common shares issued to rabbi trust, 245,386 and 243,138 shares at September 30, 2022 and December 31, 2021, respectively (10,261) (10,102)
Deferred compensation liability 10,261 10,102
Paid-in capital 51,749 47,814
Retained earnings 445,460 410,673
Treasury shares, at cost, 1,741,727 and 1,685,387 shares at September 30, 2022 and December 31, 2021, respectively (97,771) (93,836)
Accumulated other comprehensive loss (81,757) (61,719)
TOTAL PREFORMED LINE PRODUCTS, COMPANY SHAREHOLDERS’ EQUITY 330,997 316,117
Noncontrolling interest 10 (17)
TOTAL SHAREHOLDERS’ EQUITY 331,007 316,100
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 530,714 $ 489,018