Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Cash Flow, Supplemental Disclosures

Supplemental Cash Flow Information



	(Dollars in thousands) Years Ended December 31,
	2019		2018		2017
Interest paid	$	16,474	$	11,573	$	7,307
Taxes paid	$	5,699	$	316	$	3,125
Non-cash activities:
Purchases of property and equipment not paid	$	1,380	$	824	$	2,104

Contract with Customer, Asset and Liability

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



	(Dollars in thousands)
	December 31, 2019		December 31, 2018
Contract assets	$	106,670	$	86,665
Contract liabilities	$	14,517	$	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:



				(Dollars in thousands) Years Ended December 31,				% of Net Revenues
	Change			2019		2018		2019		2018
Consolidated Ducommun
Military and space	$	46,208		$	323,800	$	277,592	44.9	%	44.1	%
Commercial aerospace	44,981			348,503		303,522		48.3	%	48.2	%
Industrial	592			48,785		48,193		6.8	%	7.7	%
Total	$	91,781		$	721,088	$	629,307	100.0	%	100.0	%

Electronic Systems
Military and space	$	28,526		$	244,245	$	215,719	67.8	%	63.8	%
Commercial aerospace	(6,613		)	67,343		73,956		18.7	%	21.9	%
Industrial	592			48,785		48,193		13.5	%	14.3	%
Total	$	22,505		$	360,373	$	337,868	100.0	%	100.0	%

Structural Systems
Military and space	$	17,682		$	79,555	$	61,873	22.1	%	21.2	%
Commercial aerospace	51,594			281,160		229,566		77.9	%	78.8	%
Total	$	69,276		$	360,715	$	291,439	100.0	%	100.0	%

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

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



	(In thousands, except per share data) Years Ended December 31,
	2019		2018		2017
Net income	$	32,461	$	9,035	$	20,077
Weighted-average number of common shares outstanding
Basic weighted-average common shares outstanding	11,518		11,390		11,290
Dilutive potential common shares	274		269		268
Diluted weighted-average common shares outstanding	11,792		11,659		11,558
Earnings per share
Basic	$	2.82	$	0.79	$	1.78
Diluted	$	2.75	$	0.77	$	1.74

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

Potentially dilutive stock awards 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,
	2019	2018	2017
Stock options and stock units	127	208	126