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Note B Other Financial Statement Information
 6 Months Ended
Jun. 30, 2011
Note B Other Financial Statement Information [Abstract]  
NOTE B OTHER FINANCIAL STATEMENT INFORMATION
NOTE B — OTHER FINANCIAL STATEMENT INFORMATION
Inventories — net
                 
    June 30     December 31  
    2011     2010  
 
               
Finished products
  $ 38,658     $ 34,580  
Work-in-process
    5,392       5,830  
Raw materials
    48,397       40,667  
 
           
 
    92,447       81,077  
Excess of current cost over LIFO cost
    (5,325 )     (4,801 )
Noncurrent portion of inventory
    (4,842 )     (3,155 )
 
           
 
  $ 82,280     $ 73,121  
 
           
Cost of inventories for certain material are determined using the last-in-first-out (LIFO) method and totaled approximately $24.7 million at June 30, 2011 and $21.7 million at December 31, 2010. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must be based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three and six month periods ended June 30, 2011, the net increase in LIFO inventories resulted in a $.6 million and $.5 million charge to income before income taxes. During the three and six month periods ended June 30, 2010, the net increase in LIFO inventories resulted in a $.5 million and $.6 million charge to income before income taxes.
Noncurrent inventory is included in other assets on the consolidated balance sheets and is principally comprised of raw materials.
Property and equipment — net
Major classes of property and equipment are stated at cost and were as follows:
                 
    June 30     December 31  
    2011     2010  
 
               
Land and improvements
  $ 7,670     $ 7,467  
Buildings and improvements
    57,820       55,766  
Machinery and equipment
    124,175       117,758  
Construction in progress
    6,672       4,949  
 
           
 
    196,337       185,940  
Less accumulated depreciation
    115,766       109,674  
 
           
 
  $ 80,571     $ 76,266  
 
           
Comprehensive income (loss)
The components of comprehensive income (loss) for the three and six month periods ended June 30 are as follows:
                                                 
    PLPC     Noncontrolling interest     Total  
    Three month period     Three month period     Three month period  
    ended June 30     ended June 30     ended June 30  
    2011     2010     2011     2010     2011     2010  
 
                                               
Net income
  $ 8,386     $ 6,096     $ 144     $ —     $ 8,530     $ 6,096  
Other comprehensive income, net of tax:
                                               
Foreign currency translation adjustments
    3,127       (4,140 )     (37 )     41       3,090       (4,099 )
Recognized net actuarial loss, net of tax
    76       30       —       —       76       30  
 
                                   
Total other comprehensive income (loss), net of tax
    3,203       (4,110 )     (37 )     41       3,166       (4,069 )
 
                                               
 
                                   
Comprehensive income
  $ 11,589     $ 1,986     $ 107     $ 41     $ 11,696     $ 2,027  
 
                                   
                                                 
    PLPC     Noncontrolling interest     Total  
    Six month period     Six month period     Six month period  
    ended June 30     ended June 30     ended June 30  
    2011     2010     2011     2010     2011     2010  
 
                                               
Net income (loss)
  $ 15,384     $ 7,228     $ —     $ (98 )   $ 15,384     $ 7,130  
Other comprehensive income, net of tax:
                                               
Foreign currency translation adjustments
    5,638       (4,310 )     (50 )     25       5,588       (4,285 )
Recognized net actuarial loss, net of tax
    128       88       —       —       128       88  
 
                                   
Total other comprehensive income (loss), net of tax
    5,766       (4,222 )     (50 )     25       5,716       (4,197 )
 
                                               
 
                                   
Comprehensive income (loss)
  $ 21,150     $ 3,006     $ (50 )   $ (73 )   $ 21,100     $ 2,933  
 
                                   
Legal proceedings
From time to time, the Company may be subject to litigation incidental to its business. The Company is not a party to any pending legal proceedings that the Company believes would, individually or in the aggregate, have a material adverse effect on its financial condition, results of operations, or cash flows.
Noncontrolling Interests
During 2008, the Company entered into a Joint Venture Agreement to form a joint venture between the Company’s Australian subsidiary, Preformed Line Products Australia Pty Ltd, and BlueSky Energy Pty Ltd (BlueSky). During June 2011, the Company acquired the remaining 50% of BlueSky shares for a di minimus amount, for a total ownership interest of 100% of the issued and outstanding shares of BlueSky.