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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 29,408 $ 28,104
Restricted cash 4,154 6,018
Accounts receivable (less allowance of $241 at December 31, 2020 and $666 at December 31, 2019) 41,533 38,972
Contract assets 613 805
Inventory 46 354
Prepaid expenses 2,256 3,300
Prepaid income tax and income tax receivable 7,388 78
Other current assets 840 1,670
Total current assets 86,238 79,301
Property, plant and equipment    
Buildings and improvements 8,882 13,788
Equipment and furniture 33,650 71,457
Software 32,693 47,609
Software development and equipment installations in progress 315 12
Gross property, plant and equipment 75,540 132,866
Less accumulated depreciation and amortization (69,662) (124,543)
Net property, plant and equipment [1] 5,878 8,323
Right-of-use assets 24,750 18,817
Other assets 2,632 3,761
Total assets 119,498 110,202
Current liabilities    
Accounts payable and accrued expenses 16,294 16,917
Accrued payroll and related expenses 5,248 4,215
Short-term debt 4,926
Deferred revenue and customer advances 4,661 4,397
Customer postage and program deposits 6,497 9,767
Other current liabilities 2,903 2,619
Short-term lease liabilities 6,663 7,616
Total current liabilities 47,192 45,531
Long-term debt, net of current portion 22,174 18,700
Pensions 67,490 70,000
Deferred tax liability, net 244
Long-term lease liabilities 21,295 13,078
Other long-term liabilities 4,747 2,609
Total liabilities 162,898 150,162
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, 6,599,309 and 6,302,936 shares outstanding at December 31, 2020 and December 31, 2019, respectively 12,121 12,121
Additional paid-in capital 383,043 447,022
Retained earnings 796,123 797,817
Less treasury stock, 5,522,175 shares at cost at December 31, 2020 and 5,818,548 shares at cost at December 31, 2019 (1,178,799) (1,243,509)
Accumulated other comprehensive loss (65,611) (63,134)
Total stockholders’ deficit (53,123) (49,683)
Total liabilities, preferred stock and stockholders’ deficit $ 119,498 $ 110,202
[1] Property, plant and equipment are based on physical location.