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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 9,540,786 $ 10,187,522
Accounts receivable, less allowances: 2023 - $718,568; 2022 - $677,000 42,838,864 42,886,250
Inventories 60,648,599 64,636,591
Current portion of notes receivable 570,696 1,006,421
Prepaid expenses and other assets 5,876,920 6,598,774
Total Current Assets 119,475,865 125,315,558
Property, Plant and Equipment 60,077,603 56,112,889
Accumulated depreciation (32,088,351) (30,000,797)
Property, Plant and Equipment, Net 27,989,252 26,112,092
Goodwill 70,764,166 70,777,459
Trademarks 5,514,890 5,514,886
Patents and other intangibles net of accumulated amortization 16,080,034 18,819,897
Long term notes receivable, less current portion 446,627 2,276,631
Deferred Income Taxes 657,607 488,989
Right of Use Assets 15,796,743 12,217,521
Total Other Assets 109,260,067 110,095,383
TOTAL ASSETS 256,725,184 261,523,033
Current Liabilities    
Accounts payable 30,257,077 27,638,317
Accrued compensation 4,205,484 3,327,832
Other accrued expenses 4,830,717 3,944,964
Current portion of operating lease liability 3,540,157 3,059,547
Current portion of finance lease liability 150,362 0
Current portion of long-term debt 3,000,000 9,010,793
Total Current Liabilities 45,983,797 46,981,453
Other long-term liabilities 754,763 754,762
Operating lease liability, less current portion 12,256,587 9,195,205
Finance lease liability, less current portion 792,484 0
Long-term debt, less current portion 45,661,186 55,136,231
Accrued postretirement benefits 672,064 666,222
Accrued pension cost 21,958,215 22,174,465
Total Liabilities 128,079,096 134,908,338
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares    
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 9,086,096 shares in 2023 and 9,056,421 shares in 2022 Outstanding: 6,238,413 shares in 2023 and 6,221,976 shares in 2022 33,737,465 33,586,165
Treasury Stock: 2,847,683 shares in 2023 and 2,834,445 shares in 2022 (22,790,230) (22,544,684)
Retained earnings 141,985,268 138,985,852
Accumulated other comprehensive loss:    
Foreign currency translation (1,323,007) (1,140,978)
Unrealized gain on interest rate swap, net of tax 0 1,449,754
Unrecognized net pension and postretirement benefit costs, net of tax (22,963,408) (23,721,414)
Accumulated other comprehensive loss (24,286,415) (23,412,638)
Total Shareholders' Equity 128,646,088 126,614,695
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 256,725,184 $ 261,523,033