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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net earnings $ 3,011,000 $ 5,516,000
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation 1,587,000 1,703,000
Amortization of credit facility fees 31,000 32,000
Stock-based compensation 176,000 171,000
Deferred income taxes (317,000) (160,000)
Provision for contingent obligation 246,000 136,000
(Gains) losses on equity investments (113,000) 6,000
Gain on sale of land (139,000) (2,512,000)
Changes in assets and liabilities:    
Accounts receivable (773,000) (1,701,000)
Inventories 1,000 (4,000)
Prepaid expenses and other 58,000 182,000
Accounts payable 555,000 178,000
Accrued liabilities (104,000) (227,000)
Payable to Dover Downs Gaming & Entertainment, Inc. (9,000) 12,000
Income taxes payable 1,031,000 1,748,000
Contract liabilities 868,000 451,000
Liability for pension benefits (36,000) (1,038,000)
Net cash used in operating activities 6,073,000 4,493,000
Investing activities:    
Capital expenditures (2,154,000) (530,000)
Proceeds from sale of land and equipment, net 827,000 4,945,000
Non-refundable deposit 500,000  
Purchases of equity investments (9,000) (62,000)
Proceeds from sale of equity investments 1,000 56,000
Net cash (used in) provided by investing activities (835,000) 4,409,000
Financing activities:    
Borrowings from revolving line of credit 4,060,000 9,400,000
Repayments on revolving line of credit (4,060,000) (12,640,000)
Repurchase of common stock (200,000) (406,000)
Net cash used in financing activities (200,000) (3,646,000)
Net increase in cash 5,038,000 5,256,000
Cash, beginning of period 3,951,000 1,000
Cash, end of period 8,989,000 5,257,000
Supplemental information:    
Interest (received) paid (20,000) 55,000
Income tax payments 340,000 $ 427,000
Change in accounts payable for capital expenditures $ (30,000)