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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jul. 01, 2023
Dec. 31, 2022
Current Assets    
Cash $ 11,456 $ 65,173
Short-term investments 126,211 159,132
Trade receivables, net 53,066 65,449
Gross inventories (Note 4) 137,251 129,294
Less LIFO reserve (62,606) (59,489)
Less excess and obsolescence reserve (5,229) (4,812)
Net inventories 69,416 64,993
Prepaid expenses and other current assets 7,912 7,091
Total Current Assets 268,061 361,838
Property, plant and equipment 451,710 447,126
Less allowances for depreciation (382,444) (370,273)
Net property, plant and equipment 69,266 76,853
Deferred income taxes 10,059 6,109
Other assets 49,512 39,963
Total Assets 396,898 484,763
Current Liabilities    
Trade accounts payable and accrued expenses 30,348 35,658
Dividends payable 88,343
Contract liabilities with customers (Note 3) 100 1,031
Product liability 460 235
Employee compensation and benefits 22,877 30,160
Workers’ compensation 6,109 6,469
Income taxes payable   1,171
Total Current Liabilities 59,894 163,067
Employee compensation 1,054 1,846
Product liability accrual 47 73
Lease liability (Note 5) 2,727 3,039
Contingent liabilities (Note 13)
Stockholders’ Equity    
Common Stock, non-voting, par value $1: Authorized shares 50,000; none issued
Common Stock, par value $1: Authorized shares – 40,000,000 2023 – 24,437,020 issued, 17,722,682 outstanding, 2022 – 24,378,568 issued, 17,664,230 outstanding 24,437 24,378
Additional paid-in capital 44,808 45,075
Retained earnings 409,743 393,097
Less: Treasury stock – at cost 2023 – 6,714,338 shares 2022 – 6,714,338 shares (145,812) (145,812)
Total Stockholders’ Equity 333,176 316,738
Total Liabilities and Stockholders’ Equity $ 396,898 $ 484,763