XML 18 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net earnings $ 6,889,000 $ 8,426,000 $ 3,801,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 3,285,000 3,566,000 3,433,000
Amortization of credit facility fees 63,000 65,000 87,000
Stock-based compensation 302,000 364,000 284,000
Deferred income taxes (966,000) (4,286,000) (661,000)
Provision for contingent obligation 424,000 158,000 75,000
Losses on equity investments 90,000    
Gain on sale of land (2,413,000)    
Excess tax benefits from stock-based compensation     (27,000)
Changes in assets and liabilities:      
Accounts receivable (200,000) (57,000) (246,000)
Inventories (6,000) 2,000 55,000
Prepaid expenses and other 37,000 (97,000) (44,000)
Accounts payable 66,000 (252,000) 176,000
Accrued liabilities 38,000 (3,000) (442,000)
Payable to/receivable from Dover Downs Gaming & Entertainment, Inc. 2,000   51,000
Income taxes payable/receivable 1,284,000 (699,000) 223,000
Contract liabilities (109,000) (106,000) 77,000
Liability for pension benefits (1,835,000) (1,248,000) (32,000)
Net cash provided by operating activities 6,951,000 5,833,000 6,810,000
Investing activities:      
Capital expenditures (992,000) (1,877,000) (2,580,000)
Proceeds from sale of land, net 4,945,000    
Purchases of equity investments (124,000) (176,000) (293,000)
Proceeds from sale of equity investments 90,000 145,000 203,000
Net cash provided by (used in) investing activities 3,919,000 (1,908,000) (2,670,000)
Financing activities:      
Borrowings from revolving line of credit 12,260,000 25,680,000 28,820,000
Repayments on revolving line of credit (15,500,000) (26,280,000) (30,880,000)
Dividends paid (2,930,000) (2,944,000) (1,840,000)
Repurchase of common stock (750,000) (381,000) (189,000)
Excess tax benefits from stock-based compensation     27,000
Credit facility fees     (78,000)
Net cash used in financing activities (6,920,000) (3,925,000) (4,140,000)
Net increase in cash 3,950,000    
Cash, beginning of year 1,000 1,000 1,000
Cash, end of year 3,951,000 1,000 1,000
Supplemental information:      
Interest paid 72,000 368,000 367,000
Income tax payments 1,861,000 3,097,000 3,025,000
Change in accounts payable for capital expenditures $ 60,000 $ (34,000) $ 34,000