Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 104,805	$ 66,447
Accounts receivable, less allowances (2017 - $4,138; 2016 - $3,992)	313,491	287,123
Inventories	248,370	227,759
Prepaid expenses and other current assets	28,483	27,163
Total current assets	695,149	608,492
Deferred income taxes	31,496	25,433
Property, plant and equipment	809,509	762,187
Less accumulated depreciation	(460,970)	(427,698)
Property, plant and equipment, net	348,539	334,489
Goodwill	674,785	633,436
Other intangible assets, net	520,061	522,258
Other assets	16,345	13,431
Total assets	2,286,375	2,137,539
Current liabilities
Notes and overdrafts payable	10,000	30,825
Accounts payable	127,393	112,024
Accrued liabilities	168,362	156,967
Long-term debt - current	1,887	2,067
Total current liabilities	307,642	301,883
Long-term debt	494,222	468,062
Accrued retirement benefits	94,263	109,350
Deferred income taxes	64,770	66,446
Other liabilities	26,206	23,440
Commitments and contingencies (Note 13)
Stockholders' equity
Common stock - par value $0.01 per share Authorized: 150,000,000 shares Issued: at par value (2017 - 62,774,479 shares; 2016 - 62,692,403 shares)	628	627
Additional paid-in capital	449,489	443,235
Treasury stock, at cost (2017 - 9,001,529 shares; 2016 - 8,889,947 shares)	(257,450)	(251,827)
Retained earnings	1,245,786	1,177,151
Accumulated other non-owner changes to equity	(139,181)	(200,828)
Total stockholders' equity	1,299,272	1,168,358
Total liabilities and stockholders' equity	$ 2,286,375	$ 2,137,539

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).