XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 30,083 $ 28,104
Restricted cash 6,354 6,018
Accounts receivable (less allowance for doubtful accounts of $1,135 at June 30, 2020 and $666 at December 31, 2019) 38,612 38,972
Contract assets 652 805
Inventory 377 354
Prepaid expenses 3,409 3,300
Prepaid taxes and income tax receivable 12,268 78
Other current assets 1,752 1,670
Total current assets 93,508 79,301
Property, plant and equipment (less accumulated depreciation of $109,157 at June 30, 2020 and $133,559 at December 31, 2019) 5,967 8,323
Right-of-use assets 16,112 18,817
Other assets 3,595 3,761
Total assets 119,182 110,202
Current liabilities    
Accounts payable and accrued expenses 17,574 16,917
Accrued payroll and related expenses 4,627 4,215
Deferred revenue and customer advances 5,887 4,397
Customer postage and program deposits 9,636 9,767
Other current liabilities 2,712 2,619
Short-term debt 5,004
Short-term lease liabilities 7,282 7,616
Total current liabilities 52,722 45,531
Long-term debt 22,196 18,700
Pensions 68,637 70,000
Deferred tax liabilities, net 244
Long-term lease liabilities 12,217 13,078
Other long-term liabilities 3,027 2,609
Total liabilities 158,799 150,162
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, 6,476,457 and 6,302,936 shares outstanding at June 30, 2020 and December 31, 2019, respectively 12,121 12,121
Additional paid-in capital 410,243 447,022
Retained earnings 796,700 797,817
Less treasury stock, 5,645,027 shares at cost at June 30, 2020 and 5,818,548 shares at cost at December 31, 2019 (1,206,426) (1,243,509)
Accumulated other comprehensive loss (61,978) (63,134)
Total stockholders’ deficit (49,340) (49,683)
Total liabilities, Preferred Stock and stockholders’ deficit $ 119,182 $ 110,202