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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 31,738 $ 20,882
Accounts receivable (less allowance for doubtful accounts of $971 at September 30, 2019 and $430 at December 31, 2018) 40,577 54,240
Contract assets 986 2,362
Inventory 407 448
Prepaid expenses 2,896 4,088
Prepaid taxes and income tax receivable 447 20,436
Other current assets 1,738 2,536
Total current assets 78,789 104,992
Property, plant and equipment (less accumulated depreciation of $130,799 at September 30, 2019 and $133,559 at December 31, 2018) 8,780 13,592
Right-of-use assets 20,684  
Other assets 3,897 6,591
Total assets 112,150 125,175
Current liabilities    
Accounts payable 18,131 31,052
Accrued payroll and related expenses 5,508 6,783
Deferred revenue and customer advances 4,286 6,034
Customer postage and program deposits 6,003 6,729
Short-term lease liabilities 8,048  
Other current liabilities 2,984 3,564
Total current liabilities 44,960 54,162
Long-term debt 18,700 14,200
Pensions 61,518 62,214
Deferred tax liabilities, net 223 0
Long-term lease liabilities 14,578  
Other long-term liabilities 2,877 4,060
Total liabilities 142,856 134,636
Preferred stock, $1 par value, 1,000,000 shares authorized; 9,926 shares of Series A Convertible Preferred Stock, issued and outstanding 9,723 9,723
Stockholders’ deficit    
Common stock, $1 par value, 25,000,000 shares authorized;12,121,484 and 12,115,055 shares issued, 6,300,381 and 6,260,075 shares outstanding at September 30, 2019 and December 31, 2018, respectively 12,121 12,115
Additional paid-in capital 447,244 453,868
Retained earnings 800,763 812,704
Less treasury stock, 5,821,103 shares at cost at September 30, 2019 and 5,854,980 shares at cost at December 31, 2018 (1,244,056) (1,251,388)
Accumulated other comprehensive loss (56,501) (46,483)
Total stockholders’ deficit (40,429) (19,184)
Total liabilities, preferred stock and stockholders’ deficit $ 112,150 $ 125,175