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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 53,986 $ 24,154
Accounts receivable, net 101,292 87,659
Contract assets 116,168 113,182
Inventories 186,495 176,468
Income tax refunds receivable 1,321 13,981
Other current assets 22,975 16,114
Total current assets 482,237 431,558
Property, plant and equipment, net of accumulated depreciation of $274,458 and $268,089, respectively 203,266 201,606
Operating Lease, Right-of-Use Asset 6,618 7,391
Goodwill 382,504 379,854
Other intangible assets, net 365,427 372,331
Deferred income taxes 47,818 47,385
Other assets 50,788 51,207
Total assets 1,538,658 1,491,332
Current liabilities:    
Accounts payable – trade 47,194 48,277
Accrued salaries and wages 26,258 31,395
Contract liabilities, current portion 6,044 4,081
Operating Lease, Liability, Current 3,121 3,332
Income taxes payable 170 393
Other current liabilities 44,210 39,097
Total current liabilities 126,997 126,575
Long-term debt, excluding current portion, net of debt issuance costs 609,325 561,061
Deferred income taxes 6,365 6,079
Underfunded pension 51,459 52,309
Contract liabilities, noncurrent portion 20,329 20,515
Operating Lease, Liability, Noncurrent 3,905 4,534
Other Liabilities, Noncurrent 36,322 36,280
Commitments and contingencies (Note 12)
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; 30,766,419 and 30,640,068 shares issued, respectively 30,766 30,640
Additional paid-in capital 247,812 245,436
Retained earnings 682,812 688,457
Accumulated other comprehensive income (loss) $ (154,793) $ (158,421)
Treasury Stock, Common, Shares 2,632,334 2,607,841
Less 2,632,334 and 2,607,841 shares of common stock, respectively, held in treasury, at cost $ (122,641) $ (122,133)
Total shareholders’ equity 683,956 683,979
Total liabilities and shareholders’ equity $ 1,538,658 $ 1,491,332