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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 39,000 $ 20,882
Accounts receivable (less allowance for doubtful accounts of $813 at June 30, 2019 and $430 at December 31, 2018) 40,782 54,240
Contract assets 1,228 2,362
Inventory 409 448
Prepaid expenses 3,632 4,088
Prepaid taxes and income tax receivable 656 20,436
Other current assets 1,844 2,536
Total current assets 87,551 104,992
Property, plant and equipment (less accumulated depreciation of $131,251 at June 30, 2019 and $133,559 at December 31, 2018) 9,953 13,592
Right-of-use assets 24,137 0
Other assets 4,605 6,591
Total assets 126,246 125,175
Current liabilities    
Accounts payable 19,159 31,052
Accrued payroll and related expenses 5,267 6,783
Deferred revenue and customer advances 5,229 6,034
Customer postage and program deposits 8,052 6,729
Short-term lease liabilities 8,609 0
Other current liabilities 3,514 3,564
Total current liabilities 49,830 54,162
Long-term debt 18,700 14,200
Pensions 62,128 62,214
Long-term lease liabilities 16,469 0
Other long-term liabilities 4,038 4,060
Total liabilities 151,165 134,636
Preferred stock, $1 par value, 1,000,000 shares authorized; 9,926 shares of Series A Convertible Preferred Stock authorized, issued and outstanding 9,723 9,723
Stockholders’ deficit    
Common stock, $1 par value, 25,000,000 shares authorized;12,121,484 and 12,115,055 shares issued, 6,276,963 and 6,260,075 shares outstanding at June 30, 2019 and December 31, 2018, respectively 12,121 12,115
Additional paid-in capital 451,937 453,868
Retained earnings 806,751 812,704
Less treasury stock, 5,844,521 shares at cost at June 30, 2019 and 5,854,980 shares at cost at December 31, 2018 (1,249,061) (1,251,388)
Accumulated other comprehensive loss (56,390) (46,483)
Total stockholders’ deficit (34,642) (19,184)
Total liabilities, preferred stock and stockholders’ deficit $ 126,246 $ 125,175