Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 191,782	$ 138,052
Receivables	83,507	76,651
Inventories:
Finished goods	34,764	31,350
Work in process	41,261	23,577
Raw materials	77,649	64,929
Total inventories	153,674	119,856
Prepaid expenses and other current assets	13,214	13,273
Total current assets	442,177	347,832
Property, plant and equipment, at cost:
Land and improvements	9,257	8,947
Building and improvements	72,149	70,845
Machinery and equipment	144,582	141,153
Property, plant and equipment, at cost	225,988	220,945
Less accumulated depreciation	(152,110)	(147,403)
Net property, plant and equipment	73,878	73,542
Intangible assets, at cost less accumulated amortization	53,737	53,607
Other assets	11,249	14,048
Deferred income taxes	22,715	12,757
Goodwill	113,163	101,261
Total assets	716,919	603,047
Current liabilities:
Payables	81,807	71,440
Accrued compensation and employee benefits	29,871	20,513
Warranty and after-sale costs	11,102	9,606
Other current liabilities	9,168	8,753
Total current liabilities	131,948	110,312
Other long-term liabilities	4,758	5,568
Long-term deferred revenue	49,763	32,240
Deferred income taxes	5,061	4,648
Accrued non-pension postretirement benefits	3,614	3,917
Other accrued employee benefits	5,293	3,940
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common stock, $1 par, authorized 80,000,000 and 40,000,000 shares in 2023 and 2022, respectively; issued 37,221,098 shares in 2023 and 2022	37,221	37,221
Capital in excess of par value	59,185	53,282
Reinvested earnings	458,719	395,155
Accumulated other comprehensive loss	(1,646)	(5,983)
Less: Treasury stock, at cost, 7,873,781 shares in 2023 and 7,928,071 shares in 2022	(36,997)	(37,253)
Total shareholders’ equity	516,482	442,422
Total liabilities and shareholders’ equity	$ 716,919	$ 603,047