Company: PLPC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000080035-25-000013
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Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
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ITEM 1. FINANCIAL STATEMENTS

PREFORMED LINE PRODUCTS COMPANY

CONSOLIDATED BALANCE SHEETS

June 30, 2025December 31, 2024(Thousands of dollars, except share and per share data)(Unaudited)ASSETSCash, cash equivalents and restricted cash$66,908 $57,244 Accounts receivable, net123,877 111,402 Inventories, net143,369 129,913 Prepaid expenses12,735 11,720 Other current assets6,277 5,514 TOTAL CURRENT ASSETS353,166 315,793 Property, plant and equipment, net211,923 195,086 Operating lease, right-of-use assets10,458 10,117 Goodwill29,518 26,685 Other intangible assets, net9,966 9,656 Deferred income taxes7,204 6,546 Other assets9,226 9,994 TOTAL ASSETS$631,461 $573,877 LIABILITIES AND SHAREHOLDERS' EQUITYTrade accounts payable$51,137 $41,951 Notes payable to banks4,414 7,782 Operating lease liabilities, current1,798 1,588 Current portion of long-term debt3,928 2,430 Accrued compensation and other benefits25,574 25,904 Accrued expenses and other liabilities25,582 25,503 Dividends payable1,173 1,293 Income taxes payable1,165 1,962 TOTAL CURRENT LIABILITIES114,771 108,413 Long-term debt, less current portion27,878 18,357 Operating lease liabilities, noncurrent6,656 6,538 Deferred income taxes3,497 3,766 Other noncurrent liabilities17,883 14,479 SHAREHOLDERS' EQUITYCommon shares $2 par value per share, 15,000,000 shares authorized, 4,924,737 and 4,913,621 issued and outstanding, at June 30, 2025 and December 31, 202413,823 13,752 Common shares issued to rabbi trust, 223,168 and 222,887 shares at June 30, 2025 and December 31, 2024, respectively(9,613