Company: PLPC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001628280-25-012640
Chunk: 59

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 59
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Cleveland, Ohio

March 13, 2025

28

PREFORMED LINE PRODUCTS COMPANY

CONSOLIDATED BALANCE SHEETS

 December 31, 20242023 (Thousands of dollars, except share and per share data)ASSETS    Cash, cash equivalents and restricted cash$57,244 $53,607 Accounts receivable, net111,402 106,892 Inventories, net129,913 148,814 Prepaid expenses11,720 8,246 Other current assets5,514 7,256 TOTAL CURRENT ASSETS315,793 324,815 Property, plant and equipment, net195,086 207,892 Operating lease, right-of-use assets10,117 11,671 Goodwill26,685 29,497 Other intangible assets, net9,656 12,981 Deferred income taxes6,546 7,109 Other assets9,994 9,186 TOTAL ASSETS$573,877 $603,151 LIABILITIES AND SHAREHOLDERS' EQUITYTrade accounts payable$41,951 $37,788 Notes payable to banks7,782 6,968 Operating lease liabilities, current1,588 1,671 Current portion of long-term debt2,430 6,486 Accrued compensation and other benefits25,904 28,018 Accrued expenses and other liabilities25,503 27,414 Dividends payable1,293 1,300 Income taxes payable1,962 1,672 TOTAL CURRENT LIABILITIES108,413 111,317 Long-term debt, less current portion18,357 48,796 Operating lease liabilities, noncurrent6,538 7,892 Deferred income taxes3,766 3,536 Other noncurrent liabilities14,479 15,454 SHAREHOLDERS' EQUITYCommon shares – $2 par value per share, 15,000,000 shares authorized, 4,913,621 and 4,908,413 issued and outstanding, at December 31, 2024 and December 31, 2023, respectively13,752 13,607 Common shares issued to rabbi trust, 222,887 and 243,118 shares at December 31, 2024 and December 31, 2023, respectively(