Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 11,164	$ 7,338
Receivables	58,210	59,818
Inventories:
Finished goods	23,125	18,087
Work in process	22,035	17,157
Raw materials	40,012	42,457
Total inventories	85,172	77,701
Prepaid expenses and other current assets	4,077	6,155
Total current assets	158,623	151,012
Property, plant and equipment, at cost:
Land and improvements	9,119	9,068
Buildings and improvements	67,604	65,230
Machinery and equipment	135,762	126,680
Property, plant and equipment, at cost	212,485	200,978
Less accumulated depreciation	(118,884)	(110,784)
Net property, plant and equipment	93,601	90,194
Intangible assets, at cost less accumulated amortization	59,326	51,872
Other assets	9,897	6,607
Deferred income taxes	2,856	700
Goodwill	67,424	49,314
Total assets	391,727	349,699
Current liabilities:
Short-term debt	44,550	37,950
Payables and other current liabilities	28,601	18,350
Accrued compensation and employee benefits	15,509	13,861
Warranty and after-sale costs	3,367	2,779
Income and other taxes	1,082	2,898
Total current liabilities	93,109	75,838
Other long-term liabilities	4,073	4,019
Deferred income taxes	3,434	1,901
Accrued non-pension postretirement benefits	5,703	5,753
Other accrued employee benefits	7,956	5,979
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,164,698 shares in 2017 and 37,121,618 shares in 2016	37,165	37,122
Capital in excess of par value	32,182	28,022
Reinvested earnings	244,224	223,876
Accumulated other comprehensive loss	(10,893)	(11,635)
Less: Employee benefit stock	(460)	(614)
Treasury stock, at cost; 8,046,166 shares in 2017 and 8,003,086 shares in 2016	(24,766)	(20,562)
Total shareholders’ equity	277,452	256,209
Total liabilities and shareholders’ equity	$ 391,727	$ 349,699