Preformed Line Products Company (PLPC) Financial Statements (2024 and earlier)

Company Profile

Business Address P.O. BOX 91129
CLEVELAND, OH 44101
State of Incorp. OH
Fiscal Year End December 31
Industry (SIC) 1623 - Water, Sewer, Pipeline, and Communications and Power Line Construction (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments   45,17538,92945,25744,358
Cash and cash equivalents   45,17538,92943,60944,358
Short-term investments     1,648 
Receivables125,26198,20392,68683,51773,13973,972
Inventory, net of allowances, customer advances and progress billings147,458114,50797,53795,71885,25977,886
Inventory147,458114,50797,53795,71885,25977,886
Prepaid expense13,28319,7782,3712,6013,1695,266
Other current assets4,9293,2173,2564,2892,8822,214
Other undisclosed current assets37,23936,40615,2896,9214,5573,434
Total current assets:328,170272,111256,314231,975214,263207,130
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    200
Operating lease, right-of-use asset10,75212,40013,13912,453
Property, plant and equipment175,011149,774125,965124,018102,955108,598
Intangible assets, net (including goodwill)42,08640,23343,95142,95624,07926,564
Goodwill28,00428,19429,50827,84015,62116,544
Intangible assets, net (excluding goodwill)14,08212,03914,44315,1168,45810,020
Deferred income tax assets5,3203,83910,863 
Other noncurrent assets6,52110,66110,85514,60510,6009,719
Other undisclosed noncurrent assets 619  7,3646,9007,774
Total noncurrent assets:240,309216,907204,773201,596144,534152,655
TOTAL ASSETS:568,479489,018461,087433,571358,797359,785
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities65,58458,54153,13043,03039,43339,551
Interest and dividends payable1,3011,2921,1731,0511,046
Taxes payable1,1085,4561,7588151,903
Employee-related liabilities13,75614,73611,81711,15311,461
Accounts payable46,83942,37631,64628,28226,41425,141
Accrued liabilities18,745     
Debt21,11619,53922,64414,11210,4902,312
Deferred compensation liability9,3947,9478,2527,2136,9826,284
Other undisclosed current liabilities19,24119,50819,74816,71812,58214,686
Total current liabilities:115,335105,535103,77481,07369,48762,833
Noncurrent Liabilities
Long-term debt and lease obligation68,42048,20242,07661,96824,96034,598
Long-term debt, excluding current maturities68,42040,04833,33353,72224,96034,598
Liabilities, other than long-term debt26,10019,18123,16818,84614,98023,817
Deferred tax liabilities, net1,7112,090
Deferred income tax liabilities4,1652,7912,921 
Liability, pension and other postretirement and postemployment benefits  3,6535,8265,2785,25910,664
Other liabilities14,91212,73714,42113,5688,01011,063
Operating lease, liability7,0238,1548,7438,246
Other undisclosed noncurrent liabilities    3,116  
Total noncurrent liabilities:94,52067,38365,24483,93039,94058,415
Total liabilities:209,855172,918169,018165,003109,427121,248
Equity
Equity, attributable to parent358,637316,117292,078268,535249,370238,537
Common stock13,35113,18513,02812,84812,66212,593
Treasury stock, value(99,303)(93,836)(88,568)(79,106)(72,280)(68,115)
Additional paid in capital53,64647,81443,13438,85434,40129,734
Accumulated other comprehensive loss(69,987)(61,719)(54,551)(57,353)(59,583)(47,440)
Retained earnings460,930410,673379,035353,292334,170311,765
Equity, attributable to noncontrolling interest(13)(17)(9)33  
Total equity:358,624316,100292,069268,568249,370238,537
TOTAL LIABILITIES AND EQUITY:568,479489,018461,087433,571358,797359,785

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues637,021517,417466,449444,861420,878378,212
Revenue, net378,212
Cost of revenue
(Cost of Goods and Services Sold)
(421,841)(351,175)(312,436)(304,266)(288,647)(259,584)
Gross profit:215,180166,242154,013140,595132,231118,628
Operating expenses(122,558)(95,796)(91,972)(88,415)(81,756)(77,208)
Other operating expense, net(3,600)(3,709)(4,209)(2,366)(2,434)(985)
Other undisclosed operating loss(19,661)(19,188)(17,625)(17,187)(15,107)(14,327)
Operating income:69,36147,54940,20732,62732,93426,108
Nonoperating income (expense)4,3431,347364(1,169)(346)(302)
Investment income, nonoperating631169259783486430
Other nonoperating income6,9263,2012,501265458329
Interest and debt expense(3,214)(2,023)(2,396)(2,217)(1,290)(1,061)
Income from continuing operations before equity method investments, income taxes:70,49046,87338,17529,24131,29824,745
Other undisclosed income from continuing operations before income taxes3,2142,0232,3962,2171,2901,061
Income from continuing operations before income taxes:73,70448,89640,57131,45832,58825,806
Income tax expense(19,305)(13,175)(10,810)(8,122)(6,007)(13,152)
Income from continuing operations:54,39935,72129,76123,33626,58112,654
Income before gain (loss) on sale of properties:35,72129,76123,33626,58112,654
Net income:54,39935,72129,76123,33626,58112,654
Net income (loss) attributable to noncontrolling interest(4)842(33)  
Net income available to common stockholders, diluted:54,39535,72929,80323,30326,58112,654

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:54,39935,72129,76123,33626,58112,654
Other comprehensive income (loss)(8,268)(7,168)2,8022,230(12,143)9,929
Comprehensive income:46,13128,55332,56325,56614,43822,583
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(4)842(33)  
Comprehensive income, net of tax, attributable to parent:46,12728,56132,60525,53314,43822,583

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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