Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 69,807	$ 95,966
Trade accounts receivable, less allowances of $17,009 in 2019 and $15,469 in 2018	663,893	709,321
Inventories	385,865	441,694
Other current assets and prepaid expenses	110,638	128,108
Total current assets	1,230,203	1,375,089
Property, plant and equipment, Net	803,374	778,600
Goodwill	670,108	660,170
Other intangible assets, net	285,429	306,054
Deferred tax assets, net	31,199	27,080
Other non-current assets	335,242	345,402
Total assets	3,355,555	3,492,395
Current liabilities:
Trade accounts payable	210,411	252,538
Accrued and other liabilities	196,138	205,253
Accrued compensation and related items	160,308	200,031
Contract with Customer, Liability	202,022	192,759
Taxes payable	219,984	191,096
Short-term borrowings and current maturities of long-term debt	192,219	106,054
Total current liabilities	1,181,082	1,147,731
Long-term debt	1,888,620	1,908,480
Non-current deferred tax liabilities	108,679	111,360
Other non-current liabilities	327,112	300,031
Total liabilities	3,505,493	3,467,602
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	871,110	850,368
Treasury stock at cost (20,660,694 and 19,864,048 shares at December 31, 2019 and 2018, respectively)	(8,212,437)	(7,325,656)
Retained earnings	7,510,756	6,726,866
Accumulated Other Comprehensive Income (Loss), Net of Tax	(319,815)	(227,233)
Total shareholders’ equity	(149,938)	24,793
Total liabilities and shareholders’ equity	$ 3,355,555	$ 3,492,395