Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 36,904	$ 41,205
Accounts receivable, net	313,451	230,864
Inventories	367,437	393,814
Income tax refunds receivable	2,889	6,065
Other current assets	27,188	26,605
Total current assets	747,869	698,553
Property, plant and equipment, net of accumulated depreciation of $252,611 and $226,366, respectively	185,452	176,521
Goodwill	351,717	337,894
Other intangible assets, net	117,118	126,444
Deferred income taxes	27,603	59,373
Other assets	25,693	27,501
Total assets	1,455,452	1,426,286
Current liabilities:
Current portion of long-term debt	7,500	119,548
Accounts payable – trade	127,591	116,663
Accrued salaries and wages	48,352	43,165
Advances on contracts	8,527	13,356
Income taxes payable	1,517	1,165
Other current liabilities	52,812	59,989
Total current liabilities	246,299	353,886
Long-term debt, excluding current portion	391,651	296,598
Deferred income taxes	8,024	6,875
Underfunded pension	126,924	156,427
Other long-term liabilities	46,898	44,916
Commitments and contingencies (Note 15)
Temporary equity, convertible notes	0	1,797
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; 29,141,467 and 28,162,497 shares issued, respectively	29,141	28,162
Additional paid-in capital	185,332	171,162
Retained earnings	587,877	560,200
Accumulated other comprehensive income (loss)	(115,814)	(156,393)
Less 1,325,975 and 1,054,364 shares of common stock, respectively, held in treasury, at cost	(50,880)	(37,344)
Total shareholders’ equity	635,656	565,787
Total liabilities and shareholders’ equity	$ 1,455,452	$ 1,426,286