Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Cash Flow, Supplemental Disclosures

Supplemental Cash Flow Information



	(In thousands) Years Ended December 31,
	2018		2017		2016
Interest paid	$	11,573	$	7,307	$	6,877
Taxes paid	$	316	$	3,125	$	9,778
Non-cash activities:
Purchases of property and equipment not paid	$	824	$	2,104	$	3,241

Contract with Customer, Asset and Liability

Contract assets and contract liabilities from revenue contracts with customers are as follows:



	(In thousands)
	December 31, 2018		December 31, 2017
Contract assets	$	86,665	$	—
Contract liabilities	$	17,145	$	—

Disaggregation of Revenue

In addition to the revenue categories disclosed above, the following table reflects our revenue disaggregated by major end-use market:



				(In thousands) Years Ended December 31,				% of Net Revenues
	Change			2018		2017		2018		2017
Consolidated Ducommun
Military and space	$	8,901		$	276,659	$	267,758	44.0	%	48.0	%
Commercial aerospace	68,101			304,455		236,354		48.4	%	42.3	%
Industrial	(5,878		)	48,193		54,071		7.6	%	9.7	%
Total	$	71,124		$	629,307	$	558,183	100.0	%	100.0	%

Electronic Systems
Military and space	$	3,684		$	214,786	$	211,102	63.6	%	66.6	%
Commercial aerospace	23,339			74,889		51,550		22.2	%	16.3	%
Industrial	(5,878		)	48,193		54,071		14.2	%	17.1	%
Total	$	21,145		$	337,868	$	316,723	100.0	%	100.0	%

Structural Systems
Military and space	$	5,217		$	61,873	$	56,656	21.2	%	23.5	%
Commercial aerospace	44,762			229,566		184,804		78.8	%	76.5	%
Total	$	49,979		$	291,439	$	241,460	100.0	%	100.0	%

Weighted Average Number of Shares Outstanding Used to Compute Earnings Per Share

The net earnings and weighted-average number of common shares outstanding used to compute earnings per share were as follows:



	(In thousands, except per share data) Years Ended December 31,
	2018		2017		2016
Net income	$	9,035	$	20,077	$	25,261
Weighted-average number of common shares outstanding
Basic weighted-average common shares outstanding	11,390		11,290		11,151
Dilutive potential common shares	269		268		148
Diluted weighted-average common shares outstanding	11,659		11,558		11,299
Earnings per share
Basic	$	0.79	$	1.78	$	2.27
Diluted	$	0.77	$	1.74	$	2.24

Weighted Average Number of Shares Outstanding Excluded from Computation of Diluted Earnings

Potentially dilutive stock options and stock units to purchase common stock, as shown below, were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive. However, these shares may be potentially dilutive common shares in the future.



	(In thousands) Years Ended December 31,
	2018	2017	2016
Stock options and stock units	208	126	553