Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 88,283	$ 66,447
Accounts receivable, less allowances (2017 - $3,707; 2016 - $3,992)	302,569	287,123
Inventories	237,618	227,759
Prepaid expenses and other current assets	27,595	27,163
Total current assets	656,065	608,492
Deferred income taxes	25,111	25,433
Property, plant and equipment	779,319	762,187
Less accumulated depreciation	(441,202)	(427,698)
Property, plant and equipment, net	338,117	334,489
Goodwill	644,958	633,436
Other intangible assets, net	515,677	522,258
Other assets	15,725	13,431
Total assets	2,195,653	2,137,539
Current liabilities
Notes and overdrafts payable	5,908	30,825
Accounts payable	122,860	112,024
Accrued liabilities	158,256	156,967
Long-term debt - current	1,920	2,067
Total current liabilities	288,944	301,883
Long-term debt	491,123	468,062
Accrued retirement benefits	107,416	109,350
Deferred income taxes	67,574	66,446
Other liabilities	23,829	23,440
Commitments and contingencies (Note 12)
Stockholders' equity
Common stock - par value $0.01 per share Authorized: 150,000,000 shares Issued: at par value (2017 - 62,722,086 shares; 2016 - 62,692,403 shares)	627	627
Additional paid-in capital	445,959	443,235
Treasury stock, at cost (2017 - 8,999,149 shares; 2016 - 8,889,947 shares)	(257,316)	(251,827)
Retained earnings	1,208,368	1,177,151
Accumulated other non-owner changes to equity	(180,871)	(200,828)
Total stockholders' equity	1,216,767	1,168,358
Total liabilities and stockholders' equity	$ 2,195,653	$ 2,137,539

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).