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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 24,913 $ 29,408
Restricted cash 1,582 4,154
Accounts receivable (less allowance for doubtful accounts of $349 at March 31, 2021 and $241 at December 31, 2020) 45,405 41,533
Contract assets 326 613
Inventory 42 46
Prepaid expenses 3,986 2,256
Prepaid income taxes and income tax receivable 6,822 7,388
Other current assets 814 840
Total current assets 83,890 86,238
Property, plant and equipment (less accumulated depreciation of $69,859 at March 31, 2021 and $69,662 at December 31, 2020) 5,951 5,878
Right-of-use assets 24,190 24,750
Other assets 2,831 2,632
Total assets 116,862 119,498
Current liabilities    
Accounts payable and accrued expenses 16,136 16,294
Accrued payroll and related expenses 6,811 5,248
Short-term debt 8,730 4,926
Deferred revenue and customer advances 5,203 4,661
Customer postage and program deposits 6,105 6,497
Other current liabilities 2,947 2,903
Short-term lease liabilities 7,130 6,663
Total current liabilities 53,062 47,192
Long-term debt, net of current portion 18,370 22,174
Pensions 66,544 67,490
Long-term lease liabilities, net of current portion 20,582 21,295
Other long-term liabilities 3,004 4,747
Total liabilities 161,562 162,898
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, 6,666,984 and 6,599,309 shares outstanding at March 31, 2021 and December 31, 2020, respectively 12,121 12,121
Additional paid-in capital 367,243 383,043
Retained earnings 794,365 796,123
Less treasury stock, 5,454,500 shares at cost at March 31, 2021 and 5,522,175 shares at cost at December 31, 2020 (1,162,819) (1,178,799)
Accumulated other comprehensive loss (65,333) (65,611)
Total stockholders’ deficit (54,423) (53,123)
Total liabilities, Preferred Stock and stockholders’ deficit $ 116,862 $ 119,498