Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 95,966	$ 98,564
Trade accounts receivable, less allowances of $17,009 in 2019 and $15,469 in 2018	709,321	647,335
Inventories	441,694	414,543
Other current assets and prepaid expenses	128,108	108,916
Total current assets	1,375,089	1,269,358
Property, plant and equipment, Net	778,600	799,365
Goodwill	660,170	648,622
Other intangible assets, net	306,054	307,450
Deferred tax assets, net	27,080	39,496
Other non-current assets	345,402	262,507
Total assets	3,492,395	3,326,798
Current liabilities:
Trade accounts payable	252,538	272,911
Accrued and other liabilities	205,253	208,811
Accrued compensation and related items	200,031	236,265
Contract with Customer, Liability	192,759	192,648
Taxes payable	191,096	134,769
Short-term borrowings and current maturities of long-term debt	106,054	101,134
Total current liabilities	1,147,731	1,146,538
Long-term debt	1,908,480	1,580,808
Non-current deferred tax liabilities	111,360	62,230
Other non-current liabilities	300,031	365,801
Total liabilities	3,467,602	3,155,377
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	0	0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares, outstanding 24,125,317 and 24,921,963 shares at December 31, 2018 and 2017, respectively	448	448
Additional paid-in capital	850,368	825,974
Treasury stock at cost (20,660,694 and 19,864,048 shares at December 31, 2019 and 2018, respectively)	(7,325,656)	(6,259,049)
Retained earnings	6,726,866	5,859,272
Accumulated Other Comprehensive Income (Loss), Net of Tax	(227,233)	(255,224)
Total shareholders’ equity	24,793	171,421
Total liabilities and shareholders’ equity	$ 3,492,395	$ 3,326,798