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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash, cash equivalents and restricted cash $ 47,498 $ 53,607
Accounts receivable, net 110,888 106,892
Inventories, net 142,726 148,814
Prepaid expenses 13,053 8,246
Other current assets 6,479 7,256
TOTAL CURRENT ASSETS 320,644 324,815
Property, plant and equipment, net 201,194 207,892
Operating lease, right-of-use assets 10,742 11,671
Goodwill 28,672 29,497
Other intangible assets, net 10,983 12,981
Deferred income taxes 9,502 7,109
Other assets 10,216 9,186
TOTAL ASSETS 591,953 603,151
LIABILITIES AND SHAREHOLDERS' EQUITY    
Trade accounts payable 42,426 37,788
Notes payable to banks 8,006 6,968
Operating lease liabilities, current 1,611 1,671
Current portion of long-term debt 2,618 6,486
Accrued compensation and other benefits 29,499 28,018
Accrued expenses and other liabilities 26,229 27,414
Dividends payable 1,257 1,300
Income taxes payable 2,353 1,672
TOTAL CURRENT LIABILITIES 113,999 111,317
Long-term debt, less current portion 24,582 48,796
Operating lease liabilities, noncurrent 6,992 7,892
Deferred income taxes 2,837 3,536
Other noncurrent liabilities 14,556 15,454
SHAREHOLDERS' EQUITY    
Common shares – $2 par value per share, 15,000,000 shares authorized, 4,897,450 and 4,908,413 issued and outstanding, at September 30, 2024 and December 31, 2023 13,715 13,607
Common shares issued to rabbi trust, 222,741 and 243,118 shares at September 30, 2024 and December 31, 2023, respectively (9,557) (10,183)
Deferred compensation liability 9,557 10,183
Paid-in capital 63,108 60,958
Retained earnings 543,743 520,154
Treasury shares, at cost, 1,959,512 and 1,894,419 shares at September 30, 2024 and December 31, 2023, respectively (126,503) (118,249)
Accumulated other comprehensive loss (65,092) (60,306)
TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY 428,971 416,164
Noncontrolling interest 16 (8)
TOTAL SHAREHOLDERS' EQUITY 428,987 416,156
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 591,953 $ 603,151