10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0000096536-22-000008`
Period End Date	20220228
Filing Date	20220331
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	tdi10qfy22q3_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 40 Cash Flow Statement 46 Stockholders Equity 17

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.10M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.10M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$4.12M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.27M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$5.84M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$5.93M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.50M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.32M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$868.30K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$977.52K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.74M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.61M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$200.54K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$204.22K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$190.12K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$190.12K	USD	Point-in-time
Total assets	`Assets`	$46.17M	USD	Point-in-time
Total assets	`Assets`	$45.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$353.25K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$269.06K	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$708.13K	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$1.36M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.72M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.51M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.11M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$34.33M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$43.71M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$44.58M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$41.66M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.80M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$45.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$46.17M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$6.14M	USD	1 Quarter
Sales, net	`Revenues`	$21.21M	USD	3 Qtrs
Sales, net	`Revenues`	$4.77M	USD	1 Quarter
Sales, net	`Revenues`	$15.25M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.37M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.97M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$12.71M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.06M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.53M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.15M	USD	3 Qtrs
Gross profit	`GrossProfit`	$403.59K	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.36M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.45M	USD	3 Qtrs
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.83M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-819.69K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.30M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-191.09K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$707.43K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$4.80K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.12M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$643.01K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$75.95K	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$783.39K	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-176.68K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-186.29K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$824.62K	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-359.00K	USD	1 Quarter
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-179.00K	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$59.00K	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-69.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-117.29K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$724.39K	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.21	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.29	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-117.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$724.39K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$938.49K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$980.52K	USD	3 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$49.72K	USD	3 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$125.76K	USD	3 Qtrs
Paycheck Protection Program debt forgiveness	`GainLossOnPaycheckProtectionProgramLoanForgiveness`	-	USD	3 Qtrs
Paycheck Protection Program debt forgiveness	`GainLossOnPaycheckProtectionProgramLoanForgiveness`	$1.46M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$794.81K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.15M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$38.59K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.19M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$178.19K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$743.21K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$109.22K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-420.88K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-617.15K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-164.38K	USD	3 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$96.23K	USD	3 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$84.18K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-644.04K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-653.86K	USD	3 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-103.65K	USD	3 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$565.79K	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.02M	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$388.04K	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.09M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$721.97K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$22.39K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$8.37K	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-730.34K	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.11M	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$11.41K	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$12.34K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-329.96K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$924.89K	USD	3 Qtrs
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$20.58M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$20.25M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$20.58M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$20.25M	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`	$41.66M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$40.80M	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-117.29K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$724.39K	USD	3 Qtrs
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$41.66M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$40.80M	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$2.92M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$41.66M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$40.80M	USD	Point-in-time

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