10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0000096536-20-000026`
Period End Date	20201130
Filing Date	20201231
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	tdi10qfy21q2_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 40 Cash Flow Statement 46 Stockholders Equity 17

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.08M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.07M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.82M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.82M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$8.87M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$10.11M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.54M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.75M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$510.36K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$533.07K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.42M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.13M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$879.05K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.54M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.41M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$198.26K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$195.62K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$170.12K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$170.12K	USD	Point-in-time
Total assets	`Assets`	$42.88M	USD	Point-in-time
Total assets	`Assets`	$45.08M	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`	$878.77K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$305.88K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$326.43K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$876.48K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$736.87K	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$381.18K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.94M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.54M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$42.40M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$43.30M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$39.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$37.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$42.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$10.48M	USD	2 Qtrs
Sales, net	`Revenues`	$4.72M	USD	1 Quarter
Sales, net	`Revenues`	$13.41M	USD	2 Qtrs
Sales, net	`Revenues`	$7.70M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$8.35M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.14M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.06M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$9.09M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.13M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.32M	USD	2 Qtrs
Gross profit	`GrossProfit`	$576.39K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.64M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.61M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.82M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.51M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$-478.45K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$-669.82K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.47M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$63.84K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.48M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$26.61K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.00M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.57M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.14M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$800.29K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$225.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$180.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$300.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$155.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$645.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$821.30K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.27M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$917.01K	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.19	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.26	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.24	USD	2 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.37	USD	2 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$645.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$821.30K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.27M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$917.01K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$560.80K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$590.64K	USD	2 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$49.72K	USD	2 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$55.44K	USD	2 Qtrs
Debt forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$-1.46M	USD	2 Qtrs
Debt forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$997.25K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.07M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$414.32K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$989.30K	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$211.87K	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$4.52M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-22.71K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$236.47K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$528.56K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-491.40K	USD	2 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$-462.19K	USD	2 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$20.55K	USD	2 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.69M	USD	2 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-355.69K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-379.03K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-787.43K	USD	2 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.37M	USD	2 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$561.91K	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$317.42K	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$720.86K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$7.12K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$14.72K	USD	2 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-735.58K	USD	2 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-324.54K	USD	2 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$6.85K	USD	2 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$7.38K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.05M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-166.29K	USD	2 Qtrs
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$14.99M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$14.99M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$39.54M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$40.42M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$37.65M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$39.54M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$40.42M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$37.65M	USD	Point-in-time
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$645.29K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$821.30K	USD	2 Qtrs
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$1.27M	USD	2 Qtrs
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$917.01K	USD	1 Quarter
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$39.54M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$40.42M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$37.65M	USD	Point-in-time

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