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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 22,846 $ 8,397
Accounts receivable (less allowance for doubtful accounts of $284 at March 31, 2018 and $697 at December 31, 2017) 51,070 81,397
Contract assets 5,547 0
Inventory 473 587
Prepaid expenses 6,052 5,039
Prepaid taxes and income tax receivable 11,567 3,886
Other current assets 3,850 3,900
Total current assets 101,405 103,206
Property, plant and equipment (less accumulated depreciation of $137,585 at March 31, 2018 and $136,753 at December 31, 2017) 19,995 21,787
Other assets 0 2,589
Other intangible assets (less accumulated amortization of $2,184 at December 31, 2017) 4,158 3,230
Total assets 125,558 130,812
Current liabilities    
Accounts payable 26,597 36,130
Accrued payroll and related expenses 7,449 10,601
Deferred revenue and customer advances 6,562 5,342
Income taxes payable 0 0
Customer postage and program deposits 8,481 11,443
Other current liabilities 3,762 3,732
Total current liabilities 52,851 67,248
Pensions 59,074 59,338
Contingent consideration 0 33,887
Deferred tax liabilities, net 488 773
Other long-term liabilities 4,058 4,201
Total liabilities 116,471 165,447
Preferred stock, $1 par value, 1,000,000 shares authorized; 9,926 designated as Series A Convertible Preferred Stock; 9,926 shares of Series A Convertible Preferred Stock authorized, issued and outstanding at March 31, 2018 9,723 0
Stockholders’ (deficit) equity    
Common stock, $1 par value, 25,000,000 shares authorized 12,074,955 shares issued at March 31, 2018 and 12,074,661 shares issued at December 31, 2017 12,075 12,075
Additional paid-in capital 457,569 457,186
Retained earnings 827,783 794,583
Less treasury stock, 5,864,475 shares at cost at March 31, 2018 and 5,864,641 shares at cost at December 31, 2017 (1,254,124) (1,254,176)
Accumulated other comprehensive loss (43,939) (44,303)
Total stockholders’ (deficit) equity (636) (34,635)
Total liabilities, preferred stock and stockholders’ equity $ 125,558 $ 130,812