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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses for the years ended December 31, 2022 and 2021 were as follows:

 

 

 

2022

 

 

2021

 

Balance at January 1

 

$

2,173

 

 

$

2,335

 

Provision for expected credit loss, net of recoveries

 

 

540

 

 

 

737

 

Write-offs and other

 

 

(440

)

 

 

(899

)

Balance at December 31

 

$

2,273

 

 

$

2,173

 

Summary of Determination Cost of Inventories

Inventories at December 31 consist of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Finished and in-process products

 

$

54,991

 

 

$

56,684

 

Raw materials and supplies

 

 

38,360

 

 

 

36,867

 

 

 

$

93,351

 

 

$

93,551

 

Schedule of Estimated Useful Lives of the Assets The Company provides for depreciation and amortization on the basis of the straight-line method over the estimated useful lives of the assets as follows:

 

Buildings

20 to 40 years

Machinery and equipment

3 to 10 years

Leasehold improvements

5 to 10 years

Schedule of Property Plant and Equipment by Major Assets Class

The Company’s property, plant and equipment by major asset class at December 31 consists of:

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Land

 

$

6,907

 

 

$

6,733

 

Buildings and leasehold improvements

 

 

60,982

 

 

 

59,199

 

Machinery and equipment

 

 

311,822

 

 

 

296,809

 

 

 

 

379,711

 

 

 

362,741

 

Less allowances for depreciation and amortization

 

 

(278,145

)

 

 

(270,692

)

 

 

$

101,566

 

 

$

92,049

 

The balances in the Company's Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) were as follows:

 

 

 

Foreign
Currency

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at January 1, 2020

 

$

(14,602

)

 

$

(1,747

)

 

$

(16,349

)

Other comprehensive income (loss) before reclassifications

 

 

628

 

 

 

(113

)

 

 

515

 

Amounts reclassified from accumulated other comprehensive income, net
   of tax of ($
20) (1)

 

 

 

 

 

61

 

 

 

61

 

Net current-period other comprehensive income (loss)

 

 

628

 

 

 

(52

)

 

 

576

 

Balance at December 31, 2020

 

 

(13,974

)

 

 

(1,799

)

 

 

(15,773

)

Other comprehensive income (loss) before reclassifications

 

 

39

 

 

 

269

 

 

 

308

 

Amounts reclassified from accumulated other comprehensive income, net
   of tax of ($
21) (1)

 

 

 

 

 

64

 

 

 

64

 

Net current-period other comprehensive income (loss)

 

 

39

 

 

 

333

 

 

 

372

 

Balance at December 31, 2021

 

 

(13,935

)

 

 

(1,466

)

 

 

(15,401

)

Other comprehensive income (loss) before reclassifications

 

 

(2,475

)

 

 

33

 

 

 

(2,442

)

Amounts reclassified from accumulated other comprehensive income, net
   of tax of ($
17) (1)

 

 

 

 

 

50

 

 

 

50

 

Net current-period other comprehensive income (loss)

 

 

(2,475

)

 

 

83

 

 

 

(2,392

)

Balance at December 31, 2022

 

$

(16,410

)

 

$

(1,383

)

 

$

(17,793

)

 

(1)
The accumulated other comprehensive income (loss) components related to defined benefit pension plans are included in the computation of net periodic pension cost. See Note 12, Retirement Plans for additional details.