10-K Filing

TAYLOR DEVICES, INC. CIK: 96536 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0000096536-17-000031`
Period End Date	20170531
Filing Date	20170829
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	tayd201710k_ixbrl_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 26 Cash Flow Statement 52 Stockholders Equity 6

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.00M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$2.55M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$3.99M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$9.60M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$11.49M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$273.20K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$263.57K	USD	Point-in-time
Par value	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$199.08K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$163.90K	USD	Point-in-time
Authorized shares	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$5.50M	USD	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$6.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.68M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	550,872.00	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	541,296.00	shares	Point-in-time
Maintenance and other inventory, net (Note 5)	`InventoryNoncurrent`	$878.78K	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`InventoryNoncurrent`	$697.04K	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$9.99M	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$8.99M	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$180.58K	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$175.35K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$429.12K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$282.12K	USD	Point-in-time
Assets	`Assets`	$37.16M	USD	Point-in-time
Assets	`Assets`	$36.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.77M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$683.60K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$846.94K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$832.06K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$1.46M	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$1.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.30M	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,990,554 and 3,949,556 shares	`CommonStockValue`	$99.76K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,990,554 and 3,949,556 shares	`CommonStockValue`	$98.74K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.53M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.52M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$32.81M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$35.69M	USD	Point-in-time
Treasury stock - 550,872 and 541,296 shares at cost	`TreasuryStockValue`	$2.66M	USD	Point-in-time
Treasury stock - 550,872 and 541,296 shares at cost	`TreasuryStockValue`	$2.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.16M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$36.81M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$37.16M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$25.54M	USD	Annual
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$35.68M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$17.55M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$23.24M	USD	Annual
Gross profit	`GrossProfit`	$7.99M	USD	Annual
Gross profit	`GrossProfit`	$12.44M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.07M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.69M	USD	Annual
Operating income	`OperatingIncomeLoss`	$5.75M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.92M	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$38.84K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$10.75K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$28.00K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$7.07K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$17.82K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$66.84K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.77M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$1.56M	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$657.00K	USD	Annual
Net income	`NetIncomeLoss`	$4.21M	USD	Annual
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$1.24	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$0.68	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$0.66	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$1.21	USD	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.21M	USD	Annual
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$868.61K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$818.38K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$151.18K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$177.69K	USD	Annual
Bad debts expense	`ProvisionForDoubtfulAccounts`	$100.00K	USD	Annual
Bad debts expense	`ProvisionForDoubtfulAccounts`	$10.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-147.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-52.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$752.54K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.35M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-2.25M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$930.01K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$101.92K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$9.63K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$35.17K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$184.10K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$330.81K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-1.37M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$936.05K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-437.70K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$79.86K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$163.34K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.90M	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.34M	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-167.63K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.26M	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.79M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-1.94M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.87M	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$22.33K	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$-1.00M	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$-5.36K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.23K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.94M	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.90M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$190.89K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$346.84K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$346.84K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$190.89K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.76M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19M	USD	Annual
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.90M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.90M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$32.86M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$30.16M	USD	Point-in-time
Net income	`NetIncomeLoss`	$4.21M	USD	Annual
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Ending balance, value	`StockholdersEquity`	$32.86M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$30.16M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.