XML 65 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 23,462 $ 28,104
Restricted cash 5,253 6,018
Accounts receivable (less allowance for doubtful accounts of $848 at March 31, 2020 and $666 at December 31, 2019) 36,432 38,972
Contract assets 352 805
Inventory 407 354
Prepaid expenses 4,114 3,300
Prepaid taxes and income tax receivable 11,158 78
Other current assets 1,461 1,670
Total current assets 82,639 79,301
Property, plant and equipment (less accumulated depreciation of $122,245 at March 31, 2020 and $133,559 at December 31, 2019) 7,868 8,323
Right-of-use assets 20,250 18,817
Other assets 3,447 3,761
Total assets 114,204 110,202
Current liabilities    
Accounts payable and accrued expenses 16,666 16,917
Accrued payroll and related expenses 4,447 4,215
Deferred revenue and customer advances 3,904 4,397
Customer postage and program deposits 8,280 9,767
Other current liabilities 2,527 2,619
Short-term lease liabilities 8,531 7,616
Total current liabilities 44,355 45,531
Long-term debt 18,700 18,700
Pensions 68,977 70,000
Deferred tax liabilities, net 301 244
Long-term lease liabilities 13,886 13,078
Other long-term liabilities 2,553 2,609
Total liabilities 148,772 150,162
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 12,121,484 shares issued, 6,441,752 and 6,302,936 shares outstanding at March 31, 2020 and December 31, 2019, respectively 12,121 12,121
Additional paid-in capital 417,578 447,022
Retained earnings 802,935 797,817
Less treasury stock, 5,679,732 shares at cost at March 31, 2020 and 5,818,548 shares at cost at December 31, 2019 (1,213,842) (1,243,509)
Accumulated other comprehensive loss (63,083) (63,134)
Total stockholders’ deficit (44,291) (49,683)
Total liabilities, Preferred Stock and stockholders’ deficit $ 114,204 $ 110,202