Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 87,174	$ 72,273
Receivables	65,866	61,689
Inventories:
Finished goods	25,991	24,881
Work in process	24,747	16,841
Raw materials	48,873	39,864
Total inventories	99,611	81,586
Prepaid expenses and other current assets	8,709	8,140
Total current assets	261,360	223,688
Property, plant and equipment, at cost:
Land and improvements	9,183	9,156
Buildings and improvements	71,103	69,700
Machinery and equipment	136,510	138,548
Property, plant and equipment, at cost	216,796	217,404
Less accumulated depreciation	(138,746)	(134,699)
Net property, plant and equipment	78,050	82,705
Intangible assets, at cost less accumulated amortization	64,176	53,598
Other assets	15,390	17,428
Deferred income taxes	7,529	5,090
Goodwill	104,313	88,708
Total assets	530,818	471,217
Current liabilities:
Payables	41,859	34,923
Accrued compensation and employee benefits	20,644	14,617
Warranty and after-sale costs	12,868	11,617
Other current liabilities	6,775	6,879
Total current liabilities	82,146	68,036
Other long-term liabilities	29,804	26,381
Deferred income taxes	5,385	5,696
Accrued non-pension postretirement benefits	5,214	5,789
Other accrued employee benefits	5,199	4,056
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,221,098 shares in 2021 and 2020	37,221	37,221
Capital in excess of par value	49,224	44,964
Reinvested earnings	353,535	314,850
Accumulated other comprehensive income	136	1,313
Less: Treasury stock, at cost; 7,971,367 shares in 2021 and 8,075,280 shares in 2020	(37,046)	(37,089)
Total shareholders’ equity	403,070	361,259
Total liabilities and shareholders’ equity	$ 530,818	$ 471,217