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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash, cash equivalents and restricted cash $ 43,736 $ 37,239
Accounts receivable, less allowances of $6,942 ($5,600 in 2022) 126,019 125,261
Inventories, net 149,643 147,458
Prepaid expenses 8,334 13,283
Other current assets 10,454 4,929
TOTAL CURRENT ASSETS 338,186 328,170
Property, plant and equipment, net 201,105 175,011
Operating lease, right-of-use assets 11,635 10,752
Goodwill 28,447 28,004
Other intangible assets, net 12,728 14,082
Deferred income taxes 6,925 5,320
Other assets 7,577 7,140
TOTAL ASSETS 606,603 568,479
LIABILITIES AND SHAREHOLDERS' EQUITY    
Trade accounts payable 51,451 46,839
Notes payable to banks 10,893 18,098
Operating lease liabilities, current 1,631 1,606
Current portion of long-term debt 6,680 3,018
Accrued compensation 23,192 14,962
Accrued expenses and other liabilities 26,919 17,635
Accrued profit-sharing and other benefits 7,018 9,394
Dividends payable 1,262 1,318
Income taxes payable 6,756 2,465
TOTAL CURRENT LIABILITIES 135,802 115,335
Long-term debt, less current portion 45,269 68,420
Operating lease liabilities, non-current 7,907 7,023
Deferred income taxes 2,981 4,165
Other noncurrent liabilities 14,816 14,912
Shareholders' equity:    
Common shares - $2 par value per share, 15,000,000 shares authorized,4,893,469 and 4,917,020 issued and outstanding, at September 30, 2023 and December 31, 2022 13,559 13,351
Common shares issued to rabbi trust, 241,528 and 245,386 shares at September 30, 2023 and December 31, 2022, respectively (10,069) (10,261)
Deferred compensation liability 10,069 10,261
Paid-in capital 59,548 53,646
Retained earnings 514,839 460,930
Treasury shares, at cost, 1,891,268 and 1,758,901 shares at September 30, 2023 and December 31, 2022, respectively (117,702) (99,303)
Accumulated other comprehensive loss (70,431) (69,987)
TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY 399,813 358,637
Noncontrolling interest 15 (13)
TOTAL SHAREHOLDERS' EQUITY 399,828 358,624
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 606,603 $ 568,479