Company: PLPC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001628280-25-012640
Chunk: 60

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 60
---
9,575)(10,183)Deferred compensation liability9,575 10,183 Paid-in capital65,093 60,958 Retained earnings553,179 520,154 Treasury shares, at cost, 1,961,772 and 1,894,419 shares at December 31, 2024 and December 31, 2023, respectively(126,800)(118,249)Accumulated other comprehensive loss(82,909)(60,306)TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY422,315 416,164 Noncontrolling interest9 (8)TOTAL SHAREHOLDERS' EQUITY422,324 416,156 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$573,877 $603,151 

See notes to consolidated financial statements.

29

PREFORMED LINE PRODUCTS COMPANY

STATEMENTS OF CONSOLIDATED INCOME

 Year Ended December 31, 202420232022 (Thousands of dollars, except per share data)Net sales$593,714 $669,679 $637,021 Cost of products sold403,903 434,831 421,841 GROSS PROFIT189,811 234,848 215,180 Costs and expenses  Selling48,722 51,078 45,712 General and administrative67,477 74,643 70,317 Research and engineering21,923 22,481 19,661 Goodwill impairment— — 6,529 Other operating expense, net932 2,492 3,600 139,054 150,694 145,819 OPERATING INCOME50,757 84,154 69,361 Other income (expense)      Interest income2,573 1,811 631 Interest expense(2,221)(3,905)(3,214)Other (expense) income, net(339)284 6,926  13 (1,810)4,343 INCOME BEFORE INCOME TAXES50,770 82,344 73,704 Income tax expense13,659 19,007 19,305 NET INCOME$37,111 $63,337 $54,399 Net income attributable to noncontrolling interests(17)(5)(4)NET INCOME