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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 20,213 $ 8,397
Accounts receivable (less allowance for doubtful accounts of $381 at June 30, 2018 and $697 at December 31, 2017) 52,141 81,397
Contract assets 2,648 0
Inventory 462 587
Prepaid expenses 4,342 5,039
Prepaid taxes and income tax receivable 12,655 3,886
Other current assets 4,037 3,900
Total current assets 96,498 103,206
Property, plant and equipment (less accumulated depreciation of $139,045 at June 30, 2018 and $136,753 at December 31, 2017) 18,762 21,787
Other intangible assets (less accumulated amortization of $2,184 at December 31, 2017) 0 2,589
Other assets 4,724 3,230
Total assets 119,984 130,812
Current liabilities    
Accounts payable 32,796 36,130
Accrued payroll and related expenses 5,564 10,601
Deferred revenue and customer advances 6,749 5,342
Income taxes payable 0 0
Customer postage and program deposits 5,703 11,443
Other current liabilities 3,273 3,732
Total current liabilities 54,085 67,248
Pensions 58,816 59,338
Contingent consideration 0 33,887
Deferred tax liabilities, net 294 773
Other long-term liabilities 4,336 4,201
Total liabilities 117,531 165,447
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 June 30, 2018 9,723 0
Stockholders’ (deficit) equity    
Common stock, $1 par value, 25,000,000 shares authorized 12,105,474 shares issued at June 30, 2018 and 12,074,661 shares issued at December 31, 2017 12,108 12,075
Additional paid-in capital 457,206 457,186
Retained earnings 821,047 794,583
Less treasury stock, 5,864,244 shares at cost at June 30, 2018 and 5,864,641 shares at cost at December 31, 2017 (1,253,404) (1,254,176)
Accumulated other comprehensive loss (44,227) (44,303)
Total stockholders’ (deficit) equity (7,270) (34,635)
Total liabilities, preferred stock and stockholders’ equity $ 119,984 $ 130,812