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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 28,104 $ 20,882
Restricted cash 6,018 0
Accounts receivable (less allowance for doubtful accounts of $666 at December 31, 2019 and $430 at December 31, 2018) 38,972 54,240
Contract assets 805 2,362
Inventory 354 448
Prepaid expenses 3,300 4,088
Prepaid income tax and income tax receivable 78 20,436
Other current assets 1,670 2,536
Total current assets 79,301 104,992
Property, plant and equipment    
Buildings and improvements 13,788 15,737
Equipment and furniture 71,457 80,230
Software 47,609 50,531
Software development and equipment installations in progress 12 653
Gross property, plant and equipment 132,866 147,151
Less accumulated depreciation and amortization (124,543) (133,559)
Net property, plant and equipment 8,323 13,592
Right-of-use assets 18,817  
Other assets 3,761 6,591
Total assets 110,202 125,175
Current liabilities    
Accounts payable and accrued expenses 16,917 31,052
Accrued payroll and related expenses 4,215 6,783
Deferred revenue and customer advances 4,397 6,034
Customer postage and program deposits 9,767 6,729
Other current liabilities 2,619 3,564
Short-term lease liabilities 7,616  
Total current liabilities 45,531 54,162
Long-term debt 18,700 14,200
Pensions 70,000 62,214
Deferred tax liability, net 244 0
Long-term lease liabilities 13,078  
Other long-term liabilities 2,609 4,060
Total liabilities 150,162 134,636
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, 6,302,936 and 6,260,075 shares outstanding at December 31, 2019 and December 31, 2018, respectively 12,121 12,115
Additional paid-in capital 447,022 453,868
Retained earnings 797,817 812,704
Less treasury stock, 5,818,548 shares at cost at December 31, 2019 and 5,854,980 shares at cost at December 31, 2018 (1,243,509) (1,251,388)
Accumulated other comprehensive loss (63,134) (46,483)
Total stockholders’ deficit (49,683) (19,184)
Total liabilities, preferred stock and stockholders’ deficit $ 110,202 $ 125,175