XML 54 R5.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 28, 2020
Dec. 28, 2019
Current Assets    
Cash and cash equivalents $ 16,508,881 $ 17,996,505
Marketable securities 23,154 34,305
Accounts receivable, less allowances: 2020 - $699,000;2019 - $556,000 39,873,177 37,941,900
Inventories 55,274,876 54,599,266
Prepaid expenses and other assets 3,955,872 4,343,507
Total Current Assets 115,635,960 114,915,483
Property, Plant and Equipment 88,409,321 88,336,243
Accumulated depreciation (46,482,754) (46,313,630)
Property, Plant and Equipment, Net 41,926,567 42,022,613
Goodwill 79,418,533 79,518,012
Trademarks 5,404,283 5,404,283
Patents and other intangibles net of accumulated amortization 25,699,680 26,460,110
Right of Use Assets 11,852,653 12,342,475
Total other assets 122,375,149 123,724,880
TOTAL ASSETS 279,937,676 280,662,976
Current Liabilities    
Accounts payable 22,629,076 19,960,507
Accrued compensation 2,216,765 3,815,186
Other accrued expenses 3,797,178 2,967,961
Current portion of long-term debt 5,187,689 5,187,689
Total Current Liabilities 33,830,708 31,931,343
Deferred income taxes 5,270,465 5,270,465
Other long-term liabilities 2,465,260 2,465,261
Lease liability 11,852,653 12,342,475
Long-term debt, less current portion 92,356,121 93,577,544
Accrued postretirement benefits 1,001,509 1,007,146
Accrued pension cost 28,052,482 28,631,485
Shareholders' Equity    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 8,980,460 shares in 2020 and 8,975,434 shares in 2019 Outstanding: 6,230,731 shares in 2020 and 6,240,705 shares in 2019 30,890,108 30,651,815
Treasury Stock: 2,749,729 shares in 2020 and 2,734,729 shares in 2019 (20,537,962) (20,169,098)
Retained earnings 122,723,970 120,189,111
Accumulated other comprehensive income (loss):    
Foreign currency translation (3,342,399) (2,037,952)
Unrealized gain on marketable securities, net of tax 8,878 0
Unrealized gain (loss) on interest rate swap, net of tax (1,530,775) 167,018
Unrecognized net pension and postretirement benefit costs, net of tax (23,103,342) (23,363,637)
Accumulated other comprehensive loss (27,967,638) (25,234,571)
Total Shareholders' Equity 105,108,478 105,437,257
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 279,937,676 $ 280,662,976