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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 16,044 $ 29,408
Restricted cash 2,645 4,154
Accounts receivable (less allowance for doubtful accounts of $411 at September 30, 2021 and $241 at December 31, 2020) 52,574 41,533
Contract assets 333 613
Prepaid expenses 2,436 2,256
Prepaid income taxes and income tax receivable 7,492 7,388
Other current assets 954 886
Total current assets 82,478 86,238
Property, plant and equipment (less accumulated depreciation of $64,982 at September 30, 2021 and $69,662 at December 31, 2020) 7,140 5,878
Right-of-use assets 20,379 24,750
Other assets 2,467 2,632
Total assets 112,464 119,498
Current liabilities    
Accounts payable and accrued expenses 16,550 16,294
Accrued payroll and related expenses 6,256 5,248
Short-term debt 0 4,926
Deferred revenue and customer advances 4,977 4,661
Customer postage and program deposits 5,453 6,497
Other current liabilities 2,535 2,903
Short-term lease liabilities 6,615 6,663
Total current liabilities 42,386 47,192
Long-term debt, net of current portion 13,100 22,174
Pensions 64,341 67,490
Long-term lease liabilities, net of current portion 17,546 21,295
Other long-term liabilities 3,755 4,747
Total liabilities 141,128 162,898
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, 6,976,144 and 6,599,309 shares outstanding at September 30, 2021 and December 31, 2020, respectively 12,121 12,121
Additional paid-in capital 290,333 383,043
Retained earnings 809,338 796,123
Less treasury stock, 5,145,340 shares at cost at September 30, 2021 and 5,522,175 shares at cost at December 31, 2020 (1,085,312) (1,178,799)
Accumulated other comprehensive loss (64,867) (65,611)
Total stockholders’ deficit (38,387) (53,123)
Total liabilities, Preferred Stock and stockholders’ deficit $ 112,464 $ 119,498