Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 48,871	$ 13,086
Receivables	61,365	66,300
Inventories:
Finished goods	22,946	23,476
Work in process	17,728	17,097
Raw materials	41,274	40,231
Total inventories	81,948	80,804
Prepaid expenses and other current assets	7,910	4,469
Total current assets	200,094	164,659
Property, plant and equipment, at cost:
Land and improvements	9,056	9,066
Buildings and improvements	68,443	67,932
Machinery and equipment	132,326	136,724
Property, plant and equipment, at cost	209,825	213,722
Less accumulated depreciation	(124,064)	(123,401)
Net property, plant and equipment	85,761	90,321
Intangible assets, at cost less accumulated amortization	48,163	55,418
Other assets	15,875	8,872
Deferred income taxes	742	2,163
Goodwill	71,258	71,258
Total assets	421,893	392,691
Current liabilities:
Short-term debt	4,480	18,060
Payables	31,523	22,469
Accrued compensation and employee benefits	12,754	13,768
Warranty and after-sale costs	5,583	4,206
Other current liabilities	2,907	1,512
Total current liabilities	57,247	60,015
Other long-term liabilities	22,980	13,972
Deferred income taxes	876	3,332
Accrued non-pension postretirement benefits	5,711	5,184
Other accrued employee benefits	4,011	6,685
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,200,698 shares in 2019 and 37,198,298 shares in 2018	37,200	37,198
Capital in excess of par value	41,956	38,082
Reinvested earnings	285,879	257,313
Accumulated other comprehensive income	425	580
Less: Employee benefit stock	(154)	(306)
Treasury stock, at cost; 8,082,166 shares in 2019 and 8,079,727 shares in 2018	(34,238)	(29,364)
Total shareholders’ equity	331,068	303,503
Total liabilities and shareholders’ equity	$ 421,893	$ 392,691