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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash, cash equivalents and restricted cash $ 31,791 $ 37,239
Accounts receivable, less allowances of $6,095 ($5,600 in 2022) 141,114 125,261
Inventories, net 149,784 147,458
Prepaid expenses 8,299 13,283
Other current assets 8,179 4,929
TOTAL CURRENT ASSETS 339,167 328,170
Property, plant and equipment, net 196,151 175,011
Operating lease, right-of-use assets 10,756 10,752
Goodwill 28,687 28,004
Other intangible assets, net 13,909 14,082
Deferred income taxes 6,147 5,320
Pension asset 727 619
Other assets 6,704 6,521
TOTAL ASSETS 602,248 568,479
LIABILITIES AND SHAREHOLDERS' EQUITY    
Trade accounts payable 56,273 46,839
Notes payable to banks 13,842 18,098
Operating lease liabilities, current 1,543 1,606
Current portion of long-term debt 3,026 3,018
Accrued compensation 18,698 14,962
Accrued expenses and other liabilities 19,199 17,635
Accrued profit-sharing and other benefits 3,639 9,394
Dividends payable 1,194 1,318
Income taxes payable 7,803 2,465
TOTAL CURRENT LIABILITIES 125,217 115,335
Long-term debt, less current portion 68,374 68,420
Operating lease liabilities, non-current 7,108 7,023
Deferred income taxes 3,506 4,165
Other noncurrent liabilities 17,329 14,912
Shareholders' equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,947,924 and 4,917,020 issued and outstanding, at March 31, 2023 and December 31, 2022 13,491 13,351
Common shares issued to rabbi trust, 241,151 and 245,386 shares at March 31, 2023 and December 31, 2022, respectively (10,076) (10,261)
Deferred compensation liability 10,076 10,261
Paid-in capital 54,956 53,646
Retained earnings 481,278 460,930
Treasury shares, at cost, 1,800,474 and 1,758,901 shares at March 31, 2023 and December 31, 2022, respectively (103,043) (99,303)
Accumulated other comprehensive loss (65,976) (69,987)
TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY 380,706 358,637
Noncontrolling interest 8 (13)
TOTAL SHAREHOLDERS' EQUITY 380,714 358,624
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 602,248 $ 568,479