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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 26,226 $ 17,323
Accounts receivable, less allowances for discounts and doubtful accounts of $5,243 and $4,967 for 2018 and 2017, respectively 160,573 140,057
Inventories 329,784 326,411
Unreturned customer inventories 18,674 [1] 0
Prepaid expenses and other current assets 12,672 12,300
Total current assets 547,929 496,091
Property, plant and equipment, net of accumulated depreciation of $189,147 and $191,081 for 2018 and 2017, respectively 92,237 89,103
Goodwill 67,534 67,413
Other intangibles, net 54,411 56,261
Deferred income taxes 32,469 32,420
Investments in unconsolidated affiliates 35,703 31,184
Other assets 15,917 15,095
Total assets 846,200 787,567
CURRENT LIABILITIES:    
Notes payable 90,000 57,000
Current portion of long-term debt 5,880 4,699
Accounts payable 90,718 77,990
Sundry payables and accrued expenses 29,741 40,012
Accrued customer returns 43,031 35,916
Accrued core liability 23,751 11,899
Accrued rebates 36,436 35,346
Payroll and commissions 18,971 23,035
Total current liabilities 338,528 285,897
Long-term debt 42 79
Other accrued liabilities 15,352 14,561
Accrued asbestos liabilities 32,769 33,376
Total liabilities 386,691 333,913
Commitments and contingencies
Stockholders' equity:    
Common stock - par value $2.00 per share: Authorized - 30,000,000 shares; issued 23,936,036 shares 47,872 47,872
Capital in excess of par value 102,646 100,057
Retained earnings 359,232 357,153
Accumulated other comprehensive income (1,895) (4,109)
Treasury stock - at cost (1,429,714 shares and 1,424,025 shares in 2018 and 2017, respectively) (48,346) (47,319)
Total stockholders' equity 459,509 453,654
Total liabilities and stockholders' equity $ 846,200 $ 787,567
[1] The adoption of ASU 2014-09 using the modified retrospective method resulted in the recording of unreturned customer inventories commencing on January 1, 2018, see Note 2, "Summary of Significant Accounting Policies" for additional information.