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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 18,573 $ 17,323
Accounts receivable, less allowances for discounts and doubtful accounts of $5,533 and $4,967 for 2018 and 2017, respectively 173,861 140,057
Inventories 331,453 326,411
Unreturned customer inventories 18,246 [1] 0
Prepaid expenses and other current assets 16,458 12,300
Total current assets 558,591 496,091
Property, plant and equipment, net of accumulated depreciation of $186,603 and $191,081 for 2018 and 2017, respectively 91,277 89,103
Goodwill 67,360 67,413
Other intangibles, net 52,216 56,261
Deferred income taxes 31,842 32,420
Investments in unconsolidated affiliates 34,725 31,184
Other assets 15,934 15,095
Total assets 851,945 787,567
CURRENT LIABILITIES:    
Notes payable 88,528 57,000
Current portion of other debt 5,169 4,699
Accounts payable 94,988 77,990
Sundry payables and accrued expenses 29,391 40,012
Accrued customer returns 42,536 35,916
Accrued core liability 26,138 11,899
Accrued rebates 34,142 35,346
Payroll and commissions 20,861 23,035
Total current liabilities 341,753 285,897
Long-term debt 34 79
Other accrued liabilities 15,449 14,561
Accrued asbestos liabilities 32,339 33,376
Total liabilities 389,575 333,913
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 103,403 100,057
Retained earnings 370,461 357,153
Accumulated other comprehensive income (7,830) (4,109)
Treasury stock - at cost (1,490,526 shares and 1,424,025 shares in 2018 and 2017, respectively) (51,536) (47,319)
Total stockholders' equity 462,370 453,654
Total liabilities and stockholders' equity $ 851,945 $ 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.