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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 19,291 $ 29,408
Restricted cash 3,681 4,154
Accounts receivable (less allowance for doubtful accounts of $351 at June 30, 2021 and $241 at December 31, 2020) 47,735 41,533
Contract assets 338 613
Prepaid expenses 3,032 2,256
Prepaid income taxes and income tax receivable 7,487 7,388
Other current assets 905 886
Total current assets 82,469 86,238
Property, plant and equipment (less accumulated depreciation of $66,047 at June 30, 2021 and $69,662 at December 31, 2020) 6,033 5,878
Right-of-use assets 22,566 24,750
Other assets 2,629 2,632
Total assets 113,697 119,498
Current liabilities    
Accounts payable and accrued expenses 16,981 16,294
Accrued payroll and related expenses 8,123 5,248
Short-term debt 0 4,926
Deferred revenue and customer advances 5,959 4,661
Customer postage and program deposits 6,005 6,497
Other current liabilities 2,678 2,903
Short-term lease liabilities 6,870 6,663
Total current liabilities 46,616 47,192
Long-term debt, net of current portion 13,100 22,174
Pensions 65,298 67,490
Long-term lease liabilities, net of current portion 19,085 21,295
Other long-term liabilities 2,434 4,747
Total liabilities 146,533 162,898
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 shares issued, 6,783,170 and 6,599,309 shares outstanding at June 30, 2021 and December 31, 2020, respectively 12,121 12,121
Additional paid-in capital 336,938 383,043
Retained earnings 804,934 796,123
Less treasury stock, 5,338,314 shares at cost at June 30, 2021 and 5,522,175 shares at cost at December 31, 2020 (1,132,075) (1,178,799)
Accumulated other comprehensive loss (64,477) (65,611)
Total stockholders’ deficit (42,559) (53,123)
Total liabilities, Preferred Stock and stockholders’ deficit $ 113,697 $ 119,498