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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 29,296 $ 28,104
Restricted cash 2,489 6,018
Accounts receivable (less allowance for doubtful accounts of $766 at September 30, 2020 and $666 at December 31, 2019) 46,006 38,972
Contract assets 400 805
Inventory 54 354
Prepaid expenses 2,848 3,300
Prepaid taxes and income tax receivable 9,062 78
Other current assets 1,490 1,670
Total current assets 91,645 79,301
Property, plant and equipment (less accumulated depreciation of $74,572 at September 30, 2020 and $133,559 at December 31, 2019) 5,080 8,323
Right-of-use assets 14,408 18,817
Other assets 3,529 3,761
Total assets 114,662 110,202
Current liabilities    
Accounts payable and accrued expenses 17,629 16,917
Accrued payroll and related expenses 5,079 4,215
Deferred revenue and customer advances 5,952 4,397
Customer postage and program deposits 4,971 9,767
Other current liabilities 2,921 2,619
Short-term debt 6,681
Short-term lease liabilities 6,803 7,616
Total current liabilities 50,036 45,531
Long-term debt 20,419 18,700
Pensions 68,300 70,000
Deferred tax liabilities, net 77 244
Long-term lease liabilities 10,827 13,078
Other long-term liabilities 4,240 2,609
Total liabilities 153,899 150,162
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, 6,549,309 and 6,302,936 shares outstanding at September 30, 2020 and December 31, 2019, respectively 12,121 12,121
Additional paid-in capital 393,545 447,022
Retained earnings 795,079 797,817
Less treasury stock, 5,572,175 shares at cost at September 30, 2020 and 5,818,548 shares at cost at December 31, 2019 (1,189,465) (1,243,509)
Accumulated other comprehensive loss (60,240) (63,134)
Total stockholders’ deficit (48,960) (49,683)
Total liabilities, Preferred Stock and stockholders’ deficit $ 114,662 $ 110,202