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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 34,283 $ 24,154
Accounts receivable, net 101,730 87,659
Contract assets 106,381 113,182
Inventories 192,785 172,383
Income tax refunds receivable 4,514 14,843
Other current assets 21,194 16,114
Total current assets 460,887 428,335
Property, plant and equipment, net of accumulated depreciation of $279,746 and $268,089, respectively 203,678 201,606
Operating Lease, Right-of-Use Asset 6,144 7,391
Goodwill 382,971 379,854
Other intangible assets, net 358,333 372,331
Deferred income taxes 45,595 47,385
Other assets 55,524 51,207
Total assets 1,513,132 1,488,109
Current liabilities:    
Accounts payable – trade 49,881 48,277
Accrued salaries and wages 29,690 31,395
Contract liabilities, current portion 7,826 4,081
Operating Lease, Liability, Current 3,024 3,332
Income taxes payable 1,328 393
Other current liabilities 38,317 39,097
Total current liabilities 328,659 126,575
Long-Term Debt, Current Maturities 198,593 0
Long-term debt, excluding current portion, net of debt issuance costs 384,000 561,061
Deferred income taxes 6,804 6,079
Underfunded pension 50,645 52,309
Contract liabilities, noncurrent portion 19,624 20,515
Operating Lease, Liability, Noncurrent 3,463 4,534
Other Liabilities, Noncurrent 33,608 36,280
Commitments and contingencies (Note 14)
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; 30,830,203 and 30,640,068 shares issued, respectively 30,830 30,640
Additional paid-in capital 250,152 245,436
Retained earnings 678,456 685,234
Accumulated other comprehensive income (loss) $ (150,464) $ (158,421)
Treasury Stock, Common, Shares 2,636,393 2,607,841
Less 2,636,393 and 2,607,841 shares of common stock, respectively, held in treasury, at cost $ (122,645) $ (122,133)
Total shareholders’ equity 686,329 680,756
Total liabilities and shareholders’ equity $ 1,513,132 $ 1,488,109