Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 72,273	$ 48,871
Receivables	61,689	61,365
Inventories:
Finished goods	24,881	22,946
Work in process	16,841	17,728
Raw materials	39,864	41,274
Total inventories	81,586	81,948
Prepaid expenses and other current assets	5,303	7,910
Total current assets	220,851	200,094
Property, plant and equipment, at cost:
Land and improvements	9,156	9,056
Buildings and improvements	69,700	68,443
Machinery and equipment	138,548	132,326
Property, plant and equipment, at cost	217,404	209,825
Less accumulated depreciation	(134,699)	(124,064)
Net property, plant and equipment	82,705	85,761
Intangible assets, at cost less accumulated amortization	53,598	48,163
Other assets	17,428	15,875
Deferred income taxes	5,090	742
Goodwill	88,708	71,258
Total assets	468,380	421,893
Current liabilities:
Short-term debt	0	4,480
Payables	34,923	31,523
Accrued compensation and employee benefits	14,617	12,754
Warranty and after-sale costs	11,617	5,583
Other current liabilities	4,042	2,907
Total current liabilities	65,199	57,247
Other long-term liabilities	25,283	22,980
Deferred income taxes	5,696	876
Accrued non-pension postretirement benefits	5,789	5,711
Other accrued employee benefits	5,154	4,011
Commitments and contingencies (Note 6)
Shareholders’ equity:
Common Stock, $1 par; authorized 40,000,000 shares; issued 37,221,098 shares in 2020 and 37,200,698 shares in 2019	37,221	37,200
Capital in excess of par value	44,964	41,956
Reinvested earnings	314,850	285,879
Accumulated other comprehensive income	1,313	425
Less: Employee benefit stock		(154)
Treasury stock, at cost; 8,073,307 shares in 2020 and 8,082,166 shares in 2019	(37,089)	(34,238)
Total shareholders’ equity	361,259	331,068
Total liabilities and shareholders’ equity	$ 468,380	$ 421,893