Company: PLPC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021769
Chunk: 13

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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ITEM 1. FINANCIAL STATEMENTS

PREFORMED LINE PRODUCTS COMPANY

CONSOLIDATED BALANCE SHEETS

March 31, 2025December 31, 2024(Thousands of dollars, except share and per share data)(Unaudited)ASSETSCash, cash equivalents and restricted cash$54,835 $57,244 Accounts receivable, net118,504 111,402 Inventories, net135,098 129,913 Prepaid expenses12,261 11,720 Other current assets6,024 5,514 TOTAL CURRENT ASSETS326,722 315,793 Property, plant and equipment, net203,083 195,086 Operating lease, right-of-use assets10,138 10,117 Goodwill27,746 26,685 Other intangible assets, net9,736 9,656 Deferred income taxes6,284 6,546 Other assets8,742 9,994 TOTAL ASSETS$592,451 $573,877 LIABILITIES AND SHAREHOLDERS' EQUITYTrade accounts payable$45,252 $41,951 Notes payable to banks5,845 7,782 Operating lease liabilities, current1,751 1,588 Current portion of long-term debt3,378 2,430 Accrued compensation and other benefits20,788 25,904 Accrued expenses and other liabilities26,608 25,503 Dividends payable1,146 1,293 Income taxes payable1,149 1,962 TOTAL CURRENT LIABILITIES105,917 108,413 Long-term debt, less current portion25,682 18,357 Operating lease liabilities, noncurrent6,455 6,538 Deferred income taxes3,017 3,766 Other noncurrent liabilities15,559 14,479 SHAREHOLDERS' EQUITYCommon shares – $2 par value per share, 15,000,000 shares authorized, 4,940,131 and 4,913,621 issued and outstanding, at March 31, 2025 and December 31, 202413,820 13,752 Common shares issued to rabbi trust, 223,034 and 222,887 shares at March 31, 2025 and December 31, 2024, respectively(9,