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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Oct. 03, 2020
Dec. 28, 2019
Current Assets    
Cash and cash equivalents $ 19,551,386 $ 17,996,505
Marketable securities 26,564 34,305
Accounts receivable, less allowances: 2020 - $726,000;2019 - $556,000 34,174,080 37,941,900
Inventories 49,448,612 54,599,266
Current portion of note receivable 224,985 0
Prepaid expenses and other assets 4,453,522 4,343,507
Total Current Assets 107,879,149 114,915,483
Property, Plant and Equipment 88,656,237 88,336,243
Accumulated depreciation (48,593,969) (46,313,630)
Property, Plant and Equipment, Net 40,062,268 42,022,613
Goodwill 77,792,863 79,518,012
Trademarks 5,404,283 5,404,283
Patents and other intangibles net of accumulated amortization 27,955,229 26,460,110
Long term note receivable, less current portion 972,889 0
Right of Use Assets 11,198,742 12,342,475
Other Assets 123,324,006 123,724,880
TOTAL ASSETS 271,265,423 280,662,976
Current Liabilities    
Accounts payable 17,390,131 19,960,507
Accrued compensation 2,505,568 3,815,186
Other accrued expenses 4,333,038 2,967,961
Current portion of lease liability 3,309,033 2,965,572
Current portion of long-term debt 5,812,689 5,187,689
Total Current Liabilities 33,350,459 34,896,915
Deferred income taxes 4,374,343 5,270,465
Other long-term liabilities 2,465,261 2,465,261
Lease liability 7,939,111 9,376,903
Long-term debt, less current portion 89,105,682 93,577,544
Accrued postretirement benefits 995,021 1,007,146
Accrued pension cost 26,947,804 28,631,485
Shareholders' Equity    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares 0 0
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares 0 0
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 8,992,641 shares in 2020 and 8,975,434 shares in 2019Outstanding: 6,242,912 shares in 2020 and 6,240,705 shares in 2019 31,304,047 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 121,764,570 120,189,111
Accumulated other comprehensive loss:    
Foreign currency translation (2,286,738) (2,037,952)
Unrealized gain on marketable securities, net of tax (6,307) (471)
Unrealized gain (loss) on interest rate swap, net of tax (1,567,117) 167,489
Unrecognized net pension and postretirement benefit costs, net of tax (22,582,751) (23,363,637)
Accumulated other comprehensive loss (26,442,913) (25,234,571)
Total Shareholders' Equity 106,087,742 105,437,257
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 271,265,423 $ 280,662,976