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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 11,911 $ 29,408
Restricted cash 3,222 4,154
Accounts receivable (less allowance of $266 at December 31, 2021 and $241 at December 31, 2020) 41,051 36,023
Unbilled accounts receivable 8,134 5,510
Contract assets 622 613
Prepaid expenses 1,948 2,256
Prepaid income tax and income tax receivable 7,456 7,388
Other current assets 1,031 886
Total current assets 75,375 86,238
Property, plant and equipment    
Buildings and improvements 6,430 8,882
Equipment and furniture 21,189 33,650
Software 29,949 32,693
Software development and equipment installations in progress 2,691 315
Gross property, plant and equipment 60,259 75,540
Less accumulated depreciation (52,512) (69,662)
Net property, plant and equipment [1] 7,747 5,878
Right-of-use assets 22,142 24,750
Other assets 2,597 2,632
Total assets 107,861 119,498
Current liabilities    
Accounts payable and accrued expenses 16,132 16,294
Accrued payroll and related expenses 7,028 5,248
Short-term debt 0 4,926
Deferred revenue and customer advances 3,942 4,661
Customer postage and program deposits 6,496 6,497
Other current liabilities 2,291 2,903
Short-term lease liabilities 6,553 6,663
Total current liabilities 42,442 47,192
Long-term debt, net of current portion 5,000 22,174
Long-term lease liabilities 19,215 21,295
Other long-term liabilities 3,697 4,747
Total liabilities 122,853 162,898
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 December 31, 2021 and December 31, 2020, respectively 12,121 12,121
Additional paid-in capital 290,711 383,043
Retained earnings 811,094 796,123
Less treasury stock, 5,145,340 shares at cost at December 31, 2021 and 5,522,175 shares at cost at December 31, 2020 (1,085,313) (1,178,799)
Accumulated other comprehensive loss (53,328) (65,611)
Total stockholders’ deficit (24,715) (53,123)
Total liabilities, preferred stock and stockholders’ deficit 107,861 119,498
Qualified Plan [Member]    
Current liabilities    
Pension liabilities 27,359 40,512
Nonqualified Plan [Member]    
Current liabilities    
Pension liabilities $ 25,140 $ 26,978
[1] Property, plant and equipment are based on physical location.