10-Q Filing

NATIONAL PRESTO INDUSTRIES INC CIK: 80172 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-014213`
Period End Date	20230331
Filing Date	20230512
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	npk20230413_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 32 Cash Flow Statement 54 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
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.62M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$24.86M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$29.01M	USD	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
Accounts receivable, net	`AccountsReceivableGross`	$42.18M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableGross`	$71.02M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$34.75M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$36.25M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$107.96M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$105.56M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$10.32M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$12.28M	USD	Point-in-time
Inventory, net	`InventoryNet`	$152.14M	USD	Point-in-time
Inventory, net	`InventoryNet`	$154.99M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.25M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.23M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.67M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$312.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$326.63M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$105.42M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$105.80M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$64.84M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$63.63M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$40.96M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$41.79M	USD	Point-in-time
GOODWILL	`Goodwill`	$19.43M	USD	Point-in-time
GOODWILL	`Goodwill`	$18.57M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$6.93M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$6.55M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$10.56M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$10.73M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$4.64M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$5.51M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$1.69M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$1.69M	USD	Point-in-time
Assets	`Assets`	$388.51M	USD	Point-in-time
Assets	`Assets`	$395.88M	USD	Point-in-time
Assets	`Assets`	$411.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.88M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$4.95M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$2.55M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$577.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$540.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$15.01M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$15.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$53.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.38M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$10.15M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$10.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$63.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$66.40M	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`	$14.80M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$338.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$318.56M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-88.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-103.00K	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$341.23M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$360.21M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$12.16M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$11.74M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$329.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$357.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$348.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$329.48M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$395.88M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$411.85M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$80.41M	USD	1 Quarter
Net sales	`Revenues`	$60.75M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$51.04M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$62.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.71M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$8.22M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$6.57M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$379.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$3.09M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$9.42M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$669.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.85M	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.27M	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`	$2.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.88M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.10M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.07M	shares	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$1.25	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.88M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$15.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.89M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.85M	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$4.00	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$4.50	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.88M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$658.00K	USD	1 Quarter
Provision for depreciation	`Depreciation`	$1.33M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$379.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$259.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$212.00K	USD	1 Quarter
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementOperatingActivities`	$90.00K	USD	1 Quarter
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementOperatingActivities`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-128.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-246.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-17.61M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-29.05M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.08M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.69M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.02M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.32M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$378.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.36M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.35M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$841.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.47M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.44M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$5.38M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$3.64M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$1.25M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$2.45M	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$78.00K	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$6.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$172.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$498.00K	USD	1 Quarter
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementInvestingActivities`	$23.00K	USD	1 Quarter
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Net used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.28M	USD	1 Quarter
Net used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.60M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$28.39M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$31.83M	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$429.00K	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$436.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-41.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.96M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.43M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-27.27M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.91M	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`	$70.71M	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`	$75.62M	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`	$70.71M	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`	$75.62M	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`	$3.00	USD	1 Quarter
Extra dividends per share (in dollars per share)	`ExtraDividendsPerSharePaid`	$3.50	USD	1 Quarter
Balance	`StockholdersEquity`	$329.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$357.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$348.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$329.48M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$8.88M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.92M	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$15.00K	USD	1 Quarter
Dividends	`DividendsCommonStock`	$28.39M	USD	1 Quarter
Dividends	`DividendsCommonStock`	$31.83M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$742.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$922.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$15.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$329.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$357.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$348.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$329.48M	USD	Point-in-time

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