Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 7,338	$ 8,163
Receivables	59,818	56,643
Inventories:
Finished goods	18,087	28,548
Work in process	17,157	13,184
Raw materials	42,457	36,864
Total inventories	77,701	78,596
Prepaid expenses and other current assets	6,155	5,926
Total current assets	151,012	149,328
Property, plant and equipment, at cost:
Land and improvements	9,068	9,033
Buildings and improvements	65,230	59,839
Machinery and equipment	126,680	125,197
Property, plant and equipment, at cost	200,978	194,069
Less accumulated depreciation	(110,784)	(103,149)
Net property, plant and equipment	90,194	90,920
Intangible assets, at cost less accumulated amortization	51,872	57,348
Other assets	6,607	8,485
Deferred income taxes	700	1,421
Goodwill	49,314	47,978
Total assets	349,699	355,480
Current liabilities:
Short-term debt	37,950	71,360
Payables	18,350	19,155
Accrued compensation and employee benefits	13,861	9,663
Warranty and after-sale costs	2,779	3,133
Income and other taxes	2,898	1,233
Total current liabilities	75,838	104,544
Other long-term liabilities	4,019	4,809
Deferred income taxes	1,901	774
Accrued non-pension postretirement benefits	5,753	5,709
Other accrued employee benefits	5,979	7,369
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,121,618 shares in 2016 and 41,102,538 shares in 2015	37,122	41,103
Capital in excess of par value	28,022	31,626
Reinvested earnings	223,876	204,044
Accumulated other comprehensive loss	(11,635)	(12,780)
Less: Employee benefit stock	(614)	(768)
Treasury stock, at cost; 8,003,086 shares in 2016 and 12,052,894 shares in 2015	(20,562)	(30,950)
Total shareholders’ equity	256,209	232,275
Total liabilities and shareholders’ equity	$ 349,699	$ 355,480