10-K Filing

TAYLOR DEVICES, INC. CIK: 96536 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0000096536-20-000013`
Period End Date	20200531
Filing Date	20200807
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	tayd202010k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 24 Cash Flow Statement 52 Stockholders Equity 6

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.03M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.06M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.07M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	550,872.00	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	550,872.00	shares	Point-in-time
Accounts and other receivables, net	`AccountsReceivableNetCurrent`	$5.28M	USD	Point-in-time
Accounts and other receivables, net	`AccountsReceivableNetCurrent`	$5.82M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$11.24M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$10.11M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$312.16K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$460.21K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$237.02K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$50.15K	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$7.57M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.42M	USD	Point-in-time
Maintenance and other inventory, net	`InventoryNoncurrent`	$879.05K	USD	Point-in-time
Maintenance and other inventory, net	`InventoryNoncurrent`	$731.88K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.32M	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$190.75K	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$195.62K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$170.12K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$189.12K	USD	Point-in-time
Assets	`Assets`	$45.08M	USD	Point-in-time
Assets	`Assets`	$41.20M	USD	Point-in-time
Short-term borrowings	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short-term borrowings	`ShortTermBankLoansAndNotesPayable`	$1.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$305.88K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$1.31M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$633.70K	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$736.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.88M	USD	Point-in-time
Common stock, $ .025 par value, authorized 8,000,000 shares, issued 4,040,805 and 4,029,431 shares	`CommonStockValue`	$100.94K	USD	Point-in-time
Common stock, $ .025 par value, authorized 8,000,000 shares, issued 4,040,805 and 4,029,431 shares	`CommonStockValue`	$100.73K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.76M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$29.51M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$42.40M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$39.15M	USD	Point-in-time
Treasury stock - 550,872 shares at cost	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Treasury stock - 550,872 shares at cost	`TreasuryStockValue`	$2.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$36.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$39.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$41.20M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$33.62M	USD	Annual
Sales, net	`Revenues`	$28.38M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$24.57M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$19.14M	USD	Annual
Gross profit	`GrossProfit`	$9.05M	USD	Annual
Gross profit	`GrossProfit`	$9.24M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.93M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.00M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.30M	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$69.01K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$111.05K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$-11.27K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$2.24K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$57.73K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$113.30K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.06M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.42M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$386.00K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$515.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.54M	USD	Annual
Net income	`NetIncomeLoss`	$3.03M	USD	Annual
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.73	USD	Annual
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.87	USD	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.54M	USD	Annual
Net income	`NetIncomeLoss`	$3.03M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$1.14M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$1.07M	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$143.10K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$106.66K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$175.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$30.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$19.00K	USD	Annual
Accounts and other receivables	`IncreaseDecreaseInAccountsReceivable`	$-540.17K	USD	Annual
Accounts and other receivables	`IncreaseDecreaseInAccountsReceivable`	$986.56K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.16M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$804.72K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-67.52K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-148.05K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-34.50K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$186.87K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$5.82M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-1.54M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-32.52K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-57.48K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$326.10K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.00M	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-674.94K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$131.64K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-1.38M	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$103.16K	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.83M	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.66M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.23M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$472.84K	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$16.36K	USD	Annual
Increase in short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$16.51K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$4.87K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.02K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-494.37K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.25M	USD	Annual
Short-term borrowings	`ProceedsFromBankDebt`	-	USD	Annual
Short-term borrowings	`ProceedsFromBankDebt`	$1.46M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$50.34K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$45.61K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.51M	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.34K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.09M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.21M	USD	Annual
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$36.32M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$39.54M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.54M	USD	Annual
Net income	`NetIncomeLoss`	$3.03M	USD	Annual
Ending balance, value	`StockholdersEquity`	$36.32M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$39.54M	USD	Point-in-time

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