10-Q Filing

NATIONAL PRESTO INDUSTRIES INC CIK: 80172 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-012342`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	npk20220411_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 32 Cash Flow Statement 51 Stockholders Equity 22

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$109.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.53M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$35.30M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$34.19M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableGross`	$53.38M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableGross`	$35.76M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$40.62M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$40.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$100.02M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$92.44M	USD	Point-in-time
Inventory, net	`InventoryRawMaterials`	$11.45M	USD	Point-in-time
Inventory, net	`InventoryRawMaterials`	$10.80M	USD	Point-in-time
Raw materials	`InventoryNet`	$143.86M	USD	Point-in-time
Raw materials	`InventoryNet`	$151.47M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.26M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.33M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.13M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$317.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$348.05M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$98.74M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$98.57M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$61.85M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$62.51M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$36.24M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$36.72M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$2.57M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$2.62M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$10.16M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$10.03M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$4.64M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$4.66M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$2.26M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$2.88M	USD	Point-in-time
Assets, Total	`Assets`	$420.40M	USD	Point-in-time
Assets, Total	`Assets`	$395.23M	USD	Point-in-time
Assets, Total	`Assets`	$388.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$29.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$32.76M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$3.16M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$4.00M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$550.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$546.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$16.69M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$15.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$53.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.65M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$9.62M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$9.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$62.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$59.12M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares (	`OtherLiabilitiesNoncurrent`	$7.44M	USD	Point-in-time
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares (	`OtherLiabilitiesNoncurrent`	$7.44M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$13.74M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$320.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$349.20M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$20.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-42.00K	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$370.40M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$341.84M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$12.78M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$12.45M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$340.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$374.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$329.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$357.62M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$420.40M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$388.51M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$60.75M	USD	1 Quarter
Net sales	`Revenues`	$81.03M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$51.04M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$62.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.71M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$7.36M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$6.57M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$3.09M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$10.94M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$669.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$700.00K	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.64M	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$841.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.65M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.07M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.05M	shares	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$1.28	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-49.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.94M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.85M	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$6.25	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$4.50	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$658.00K	USD	1 Quarter
Provision for depreciation	`Depreciation`	$677.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$206.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$212.00K	USD	1 Quarter
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementOperatingActivities`	$90.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-211.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-128.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-17.61M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.62M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.69M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-530.00K	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.02M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.23M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.36M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.43M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$841.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.44M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$3.64M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$16.95M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$2.45M	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	-	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$78.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$172.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.83M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.28M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$31.83M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$44.08M	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$436.00K	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$572.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-41.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-30.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.43M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-43.54M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-27.27M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-20.91M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$82.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$82.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.04M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Regular dividends per share (in dollars per share)	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Regular dividends per share (in dollars per share)	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Extra dividends per share (in dollars per share)	`ExtraDividendsPerSharePaid`	$5.00	USD	1 Quarter
Extra dividends per share (in dollars per share)	`ExtraDividendsPerSharePaid`	$5.00	USD	1 Quarter
Balance	`StockholdersEquity`	$340.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$374.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$329.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$357.62M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-49.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$31.83M	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$44.08M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$910.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$742.00K	USD	1 Quarter
Unrealized (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-49.00K	USD	1 Quarter
Unrealized (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$340.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$374.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$329.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$357.62M	USD	Point-in-time

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