Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 01, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 18,033	$ 16,462
Accounts receivable, net	252,217	238,102
Inventories	391,773	385,747
Income tax refunds receivable	561	3,591
Other current assets	32,507	32,133
Total current assets	695,091	676,035
Property, plant and equipment, net of accumulated depreciation of $209,023 and $202,648 respectively	177,878	175,586
Goodwill	358,509	352,710
Other intangibles assets, net	142,211	144,763
Deferred income taxes	66,743	66,815
Other assets	23,520	23,702
Total assets	1,463,952	1,439,611
Current liabilities:
Current portion of long-term debt	5,000	5,000
Accounts payable – trade	127,157	121,044
Accrued salaries and wages	36,080	40,284
Advances on contracts	14,825	11,274
Other accruals and payables	67,855	58,761
Income taxes payable	537	326
Total current liabilities	251,454	236,689
Long-term debt, excluding current portion	442,730	434,227
Deferred income taxes	15,003	15,207
Underfunded pension	146,061	158,984
Other long-term liabilities	$ 52,658	$ 51,427
Commitments and contingencies
Shareholders' equity:
Preferred stock, $1 par value, 200,000 shares authorized; none outstanding	$ 0	$ 0
Common stock, $1 par value, 50,000,000 shares authorized, voting, 27,861,979 and 27,735,757 shares issued, respectively	27,862	27,736
Additional paid-in capital	160,510	156,803
Retained earnings	525,769	520,865
Accumulated other comprehensive income (loss)	(131,477)	(140,138)
Less 807,394 and 698,183 shares of common stock, respectively, held in treasury, at cost	(26,618)	(22,189)
Total shareholders’ equity	556,046	543,077
Total liabilities and shareholders’ equity	$ 1,463,952	$ 1,439,611