10-Q Filing

NATIONAL PRESTO INDUSTRIES INC CIK: 80172 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001562762-20-000212`
Period End Date	20200331
Filing Date	20200522
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	npk-20200329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 31 Cash Flow Statement 47 Stockholders Equity 20

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.58M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$78.73M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$83.95M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$43.69M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$41.46M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$33.49M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$26.29M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$96.28M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$87.81M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$7.24M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$7.67M	USD	Point-in-time
Total inventory	`InventoryNet`	$130.24M	USD	Point-in-time
Total inventory	`InventoryNet`	$128.54M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.86M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.85M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.52M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$312.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$337.83M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$94.31M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$93.98M	USD	Point-in-time
Less allowance for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$57.38M	USD	Point-in-time
Less allowance for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$56.70M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$37.28M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$36.94M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$3.06M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$3.00M	USD	Point-in-time
NOTES RECEIVABLE	`NotesAndLoansReceivableNetNoncurrent`	$7.24M	USD	Point-in-time
NOTES RECEIVABLE	`NotesAndLoansReceivableNetNoncurrent`	$7.18M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$3.41M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$3.52M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$1.28M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$1.03M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$4.78M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$4.43M	USD	Point-in-time
Total assets	`Assets`	$383.66M	USD	Point-in-time
Total assets	`Assets`	$376.54M	USD	Point-in-time
Total assets	`Assets`	$410.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.65M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$3.80M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$5.88M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$521.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$520.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.32M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.08M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$2.89M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$3.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$42.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$48.97M	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	`CommonStockValue`	$7.44M	USD	Point-in-time
Common stock, $1 par value; Authorized: 12,000,000 shares; Issued: 7,440,518 shares	`CommonStockValue`	$7.44M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.73M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$362.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$328.89M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$229.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$136.00K	USD	Point-in-time
Stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$348.29M	USD	Point-in-time
Stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$381.87M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$13.60M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$13.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$366.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$334.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$330.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$367.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$383.66M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$410.25M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$63.85M	USD	1 Quarter
Net sales	`Revenues`	$65.64M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$51.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$49.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.49M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$6.44M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$6.79M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$9.26M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$6.05M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.63M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.27M	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.68M	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.53M	USD	1 Quarter
Provision for income taxes from continuing operations	`IncomeTaxExpenseBenefit`	$1.73M	USD	1 Quarter
Provision for income taxes from continuing operations	`IncomeTaxExpenseBenefit`	$2.31M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$5.95M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.03M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.01M	shares	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$1.17	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.85	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$5.95M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$93.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$69.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.31M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.02M	USD	1 Quarter
Cash dividends declared and paid per common share	`CashDividendsDeclaredAndPaid`	$6.00	USD	1 Quarter
Cash dividends declared and paid per common share	`CashDividendsDeclaredAndPaid`	$6.00	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$5.95M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$949.00K	USD	1 Quarter
Provision for depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$185.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-69.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-400.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.23M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-15.64M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.18M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.50M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-534.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.70M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.18M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.93M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.71M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.58M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.67M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$46.34M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$14.21M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$83.26M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$9.11M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$357.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.51M	USD	1 Quarter
Proceeds from insurance settlement	`ProceedsFromInsuranceSettlementInvestingActivities`	$598.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.46M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$35.01M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$42.09M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$42.17M	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$518.00K	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$528.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-223.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.67M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.79M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-36.54M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.89M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.03M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Regular dividends per share paid	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Regular dividends per share paid	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Extra dividends per share paid	`ExtraDividendsPerSharePaid`	$5.00	USD	1 Quarter
Extra dividends per share paid	`ExtraDividendsPerSharePaid`	$5.00	USD	1 Quarter
Balance	`StockholdersEquity`	$366.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$334.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$330.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$367.96M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$5.95M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$93.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$69.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$42.17M	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$42.09M	USD	1 Quarter
Other	`StockholdersEquityOther`	$590.00K	USD	1 Quarter
Other	`StockholdersEquityOther`	$613.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$366.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$334.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$330.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$367.96M	USD	Point-in-time

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