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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Assets    
Cash and cash equivalents [1] $ 34,397 $ 36,491
Accounts and other receivables, net of allowance for doubtful accounts and sales returns of $2,937 in 2018 and $3,304 in 2017 124,727 120,135
Income taxes recoverable 6,783 32,080
Inventories 93,810 86,907
Prepaid expenses and other 9,564 8,224
Total current assets 269,281 283,837
Property, plant and equipment, at cost:    
Land and land improvements 8,772 8,723
Buildings 101,332 101,271
Machinery and equipment 682,968 660,898
Total property, plant and equipment 793,072 770,892
Less accumulated depreciation (564,703) (547,801)
Net property, plant and equipment 228,369 223,091
Investment in kaleo 84,600 54,000
Intangible Assets, Net (Excluding Goodwill) 36,295 40,552
Goodwill 81,404 128,208
Deferred Tax Assets, Net, Noncurrent 3,412 16,636
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent 32,443 46,454
Other assets 4,012 9,419
Total assets [1] 707,373 755,743
Current liabilities:    
Accounts payable 112,758 108,391
Accrued expenses 42,495 42,433
Total current liabilities 155,253 150,824
Long-term debt 101,500 152,000
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent 88,124 98,837
Pension and other postretirement benefit obligations, net 0 2,123
Deferred Tax Liabilities, Gross 29,031 31,941
Other noncurrent liabilities 7,639 8,179
Total liabilities 352,516 411,963
Commitments and contingencies
Shareholders’ equity:    
Issued and outstanding—33,176,024 shares in 2018 and 33,017,422 in 2017 (including restricted stock) 38,892 34,747
Common stock held in trust for savings restoration plan (72,883 shares in 2018 and 71,309 in 2017) (1,559) (1,528)
Accumulated other comprehensive income (loss):    
Foreign currency translation adjustment (96,940) (86,178)
Gain (loss) on derivative financial instruments (1,601) 459
Pension and other postretirement benefit adjustments (81,446) (90,950)
Retained earnings 497,511 487,230
Total shareholders’ equity 354,857 343,780
Total liabilities and shareholders’ equity $ 707,373 $ 755,743
[1] Information on exports and foreign operations are provided on the previous page. Cash and cash equivalents includes funds held in locations outside the U.S. of $31.1 million and $32.7 million at December 31, 2018 and 2017, respectively. Export sales relate almost entirely to PE Films. Operations outside the U.S. in The Netherlands, Hungary, China and India also relate to PE Films. Operations in Brazil are primarily related to Flexible Packaging Films, but also include PE Films operations. Sales from locations in The Netherlands and Hungary are primarily to customers located in Europe. Sales from locations in China (Guangzhou and Shanghai) are primarily to customers located in China, but also include other customers in Asia.