10-K Filing

TAYLOR DEVICES, INC. CIK: 96536 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0000096536-18-000022`
Period End Date	20180531
Filing Date	20180829
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	tayd201810k_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`	$6.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.04M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$2.55M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$6.27M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$11.32M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$11.49M	USD	Point-in-time
Authorized shares	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$263.57K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$244.64K	USD	Point-in-time
Authorized shares	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$202.52K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$163.90K	USD	Point-in-time
Issued shares	`CommonStockSharesIssued`	4.02M	shares	Point-in-time
Issued shares	`CommonStockSharesIssued`	3.99M	shares	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$6.36M	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`	$25.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.29M	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`InventoryNoncurrent`	$885.65K	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`InventoryNoncurrent`	$878.78K	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$9.99M	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$9.94M	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$185.73K	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$180.58K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$429.12K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$219.12K	USD	Point-in-time
Total assets	`Assets`	$37.16M	USD	Point-in-time
Total assets	`Assets`	$39.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$846.94K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$983.26K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$832.06K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.41M	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$2.04M	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`	$5.90M	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 4,017,139 and 3,990,554 shares	`CommonStockValue`	$99.76K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 4,017,139 and 3,990,554 shares	`CommonStockValue`	$100.43K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.07M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.52M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$36.44M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$35.69M	USD	Point-in-time
Treasury stock - 550,872 shares at cost	`TreasuryStockValue`	$2.83M	USD	Point-in-time
Treasury stock - 550,872 shares at cost	`TreasuryStockValue`	$2.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.61M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$39.51M	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)	`Revenues`	$25.54M	USD	Annual
Sales, net (Note 9)	`Revenues`	$24.36M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$18.44M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.55M	USD	Annual
Gross profit	`GrossProfit`	$7.99M	USD	Annual
Gross profit	`GrossProfit`	$5.92M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.07M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.28M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.92M	USD	Annual
Operating income	`OperatingIncomeLoss`	$647.63K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$26.86K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$38.84K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$28.00K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$1.88K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$66.84K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$28.74K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$676.37K	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$233.00K	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$657.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Net income	`NetIncomeLoss`	$443.37K	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$0.68	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$0.13	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$0.13	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$0.66	USD	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Net income	`NetIncomeLoss`	$443.37K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$868.61K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$995.92K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$177.69K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$124.93K	USD	Annual
Bad debts expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Bad debts expense	`ProvisionForDoubtfulAccounts`	$100.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$60.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$210.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-147.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.72M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.35M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-2.25M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$103.96K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$18.93K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$9.63K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$35.17K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-38.62K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-1.37M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$511.43K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-437.70K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$130.85K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$163.34K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$136.32K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$580.44K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.90M	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$747.01K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-167.63K	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$304.47K	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.87M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$936.83K	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$16.76K	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$22.33K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.23K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.15K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.90M	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-958.74K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$190.89K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$187.66K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$187.66K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$190.89K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-466.61K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.76M	USD	Annual
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	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`	$33.61M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.33M	USD	Annual
Net income	`NetIncomeLoss`	$443.37K	USD	Annual
Ending balance, value	`StockholdersEquity`	$32.86M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$33.61M	USD	Point-in-time

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