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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 34,685 $ 45,175
Accounts receivable, less allowances of $3,436 ($3,464 in 2020) 93,654 92,686
Inventories - net 99,694 97,537
Prepaids 7,642 15,289
Prepaid taxes 1,080 2,371
Other current assets 3,283 3,256
TOTAL CURRENT ASSETS 240,038 256,314
Property, plant and equipment - net 145,400 125,965
Operating lease, right-of-use assets 12,426 13,139
Intangibles - net 13,811 14,443
Goodwill 28,844 29,508
Deferred income taxes 5,459 10,863
Other assets 11,025 10,855
TOTAL ASSETS 457,003 461,087
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Trade accounts payable 33,945 31,646
Notes payable to banks 12,853 17,428
Operating lease liabilities, current 2,083 2,240
Current portion of long-term debt 9,033 5,216
Accrued compensation and amounts withheld from employees 16,823 14,736
Accrued expenses and other liabilities 18,001 17,508
Accrued profit-sharing and other benefits 3,104 8,252
Dividends payable 1,183 1,292
Income taxes payable 648 5,456
TOTAL CURRENT LIABILITIES 97,673 103,774
Long-term debt, less current portion 37,394 33,333
Unfunded pension obligation 5,522 5,826
Operating lease liabilities, non-current 8,190 8,743
Deferred income taxes 2,802 2,921
Other noncurrent liabilities 14,284 14,421
Shareholders’ equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized, 4,912,959 and 4,902,233 issued and outstanding, at March 31, 2021 and December 31, 2020, respectively 13,155 13,028
Common shares issued to rabbi trust, 261,781 and 265,508 shares at March 31, 2021 and December 31, 2020, respectively (10,820) (10,940)
Deferred compensation liability 10,820 10,940
Paid-in capital 44,322 43,134
Retained earnings 385,184 379,035
Treasury shares, at cost, 1,664,517 and 1,611,927 shares at March 31, 2021 and December 31, 2020, respectively (92,246) (88,568)
Accumulated other comprehensive loss (59,266) (54,551)
TOTAL PREFORMED LINE PRODUCTS, COMPANY SHAREHOLDERS’ EQUITY 291,149 292,078
Noncontrolling interest (11) (9)
TOTAL SHAREHOLDERS’ EQUITY 291,138 292,069
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 457,003 $ 461,087