Marine Products (MPX) 10-K 28 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 15, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	MARINE PRODUCTS CORP
Entity Central Index Key	1,129,155
Trading Symbol	mpx
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well-Known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		34,194,936
Entity Public Float			$ 131,839,491
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 8,745	$ 7,684
Marketable securities	2,966	2,636
Accounts receivable, net	3,872	3,051
Inventories	46,770	38,006
Income taxes receivable	452	714
Prepaid expenses and other current assets	1,795	2,096
Current assets	64,600	54,187
Property, plant and equipment, net	14,552	14,218
Goodwill	3,308	3,308
Other intangibles, net	465	465
Marketable securities	4,699	10,395
Deferred income taxes	3,325	3,649
Other assets	9,931	9,678
Total assets	100,880	95,900
Liabilities
Accounts payable	4,673	5,362
Accrued expenses and other liabilities	13,494	13,999
Current liabilities	18,167	19,361
Pension liabilities	7,045	6,732
Other long-term liabilities	456	203
Total liabilities	25,668	26,296
Commitments and contingencies (Note 10)
Stockholders' Equity
Preferred stock, $0.10 par value, 1,000,000 shares authorized, none issued
Common stock, $0.10 par value, 74,000,000 shares authorized, issued and outstanding - 34,328,486 shares in 2018, 34,572,157 shares in 2017	3,433	3,457
Capital in excess of par value	0	0
Retained earnings	73,954	68,127
Accumulated other comprehensive loss	(2,175)	(1,980)
Total stockholders' equity	75,212	69,604
Total liabilities and stockholders' equity	$ 100,880	$ 95,900

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollar per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollar per share)	$ 0.10	$ 0.10
Common stock, shares authorized	74,000,000	74,000,000
Common stock, shares issued	34,328,486	34,572,157
Common stock, shares outstanding	34,328,486	34,572,157

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement
Net sales	$ 298,616	$ 267,316	$ 241,330
Cost of goods sold	232,293	208,296	190,863
Gross profit	66,323	59,020	50,467
Selling, general and administrative expenses	30,936	29,261	27,415
Operating income	35,387	29,759	23,052
Interest income	268	229	355
Income before income taxes	35,655	29,988	23,407
Income tax provision	7,167	10,688	6,662
Net income	$ 28,488	$ 19,300	$ 16,745
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.83	$ 0.55	$ 0.44
Diluted (in dollars per share)	0.83	0.55	0.44
Dividends paid per share (in dollars per share)	$ 0.50	$ 0.33	$ 0.24

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income and Comprehensive Income
Net income	$ 28,488	$ 19,300	$ 16,745
Other comprehensive income, net of taxes:
Pension adjustment	(242)	215	(252)
Unrealized gain (loss) on securities, net of reclassification adjustments	47	(13)	(29)
Comprehensive income	$ 28,293	$ 19,502	$ 16,464

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2015	$ 3,811	$ 3,879	$ 84,423	$ (1,901)	$ 90,212
Balance (in shares) at Dec. 31, 2015	38,112,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued for stock incentive plans, net	$ 37	2,511			2,548
Stock issued for stock incentive plans, net (in shares)	369,000
Stock purchased and retired	$ (362)	(6,550)	(27,825)		(34,737)
Stock purchased and retired (in shares)	(3,626,000)
Net income			16,745		16,745
Pension adjustment, net of taxes				(252)	(252)
Unrealized loss on securities, net of taxes and reclassification adjustments				(29)	(29)
Excess tax benefits for share-based payments		160			160
Dividends declared			(9,202)		(9,202)
Balance at Dec. 31, 2016	$ 3,486		64,141	(2,182)	65,445
Balance (in shares) at Dec. 31, 2016	34,855,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued for stock incentive plans, net	$ 18	2,664			2,682
Stock issued for stock incentive plans, net (in shares)	184,000
Stock purchased and retired	$ (47)	(2,664)	(3,810)		(6,521)
Stock purchased and retired (in shares)	(467,000)
Net income			19,300		19,300
Pension adjustment, net of taxes				215	215
Unrealized loss on securities, net of taxes and reclassification adjustments				(13)	(13)
Dividends declared			(11,504)		(11,504)
Balance at Dec. 31, 2017	$ 3,457		68,127	(1,980)	$ 69,604
Balance (in shares) at Dec. 31, 2017	34,572,000				34,572,157
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued for stock incentive plans, net	$ 19	2,070			$ 2,089
Stock issued for stock incentive plans, net (in shares)	190,000
Stock purchased and retired	$ (43)	$ (2,070)	(5,409)		(7,522)
Stock purchased and retired (in shares)	(434,000)
Net income			28,488		28,488
Pension adjustment, net of taxes				(242)	(242)
Unrealized loss on securities, net of taxes and reclassification adjustments				47	47
Dividends declared			(17,252)		(17,252)
Balance at Dec. 31, 2018	$ 3,433		$ 73,954	$ (2,175)	$ 75,212
Balance (in shares) at Dec. 31, 2018	34,328,000				34,328,486

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 28,488	$ 19,300	$ 16,745
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	1,820	1,526	1,382
Gain on sale of equipment and property		(8)	(103)
Amortization of premium related to marketable securities	213	425	1,152
Stock-based compensation expense	2,089	2,682	2,624
Excess tax benefits for share-based payments			(160)
Deferred income tax provision (benefit)	378	1,519	(862)
(Increase) decrease in assets:
Accounts receivable	(821)	(1,964)	169
Inventories	(8,764)	4,482	(9,850)
Prepaid expenses and other current assets	301	(273)	296
Income taxes receivable	262	(685)	791
Other non-current assets	(563)	(912)	1,266
Increase (decrease) in liabilities:
Accounts payable	(689)	199	1,482
Other accrued expenses	(505)	1,760	2,282
Other long-term liabilities	566	1,588	(1,377)
Net cash provided by operating activities	22,775	29,639	15,837
INVESTING ACTIVITIES
Capital expenditures	(2,154)	(2,410)	(1,940)
Proceeds from sale of assets		8	88
Sales and maturities of marketable securities	21,423	18,067	52,519
Purchases of marketable securities	(16,209)	(22,214)	(28,092)
Net cash provided by (used for) investing activities	3,060	(6,549)	22,575
FINANCING ACTIVITIES
Payment of dividends	(17,252)	(11,504)	(9,202)
Cash paid for common stock purchased and retired	(7,522)	(6,521)	(34,737)
Excess tax benefits for share-based payments			160
Net cash used for financing activities	(24,774)	(18,025)	(43,779)
Net increase (decrease) in cash and cash equivalents	1,061	5,065	(5,367)
Cash and cash equivalents at beginning of year	7,684	2,619	7,986
Cash and cash equivalents at end of year	$ 8,745	$ 7,684	$ 2,619

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1: SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation and Presentation The consolidated financial statements included herein may not necessarily be indicative of the future results of operations, financial position and cash flows of Marine Products. The Company has only one reportable segment — its Powerboat Manufacturing business. The Company’s results of operations and its financial condition are not significantly reliant upon any single customer or product model. No single dealer accounted for more than 10 percent of net sales during 2018, 2017 or 2016. Net sales to the Company’s international dealers were approximately $19 million in 2018, $17 million in 2017, and $21 million in 2016. Common Stock Preferred Stock Share Repurchases Dividend Use of Estimates in the Preparation of Financial Statements Sales Recognition – Advertising Cash and Cash Equivalents Marketable Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designations as of each balance sheet date. Debt securities are classified as available-for-sale because the Company does not have the intent to hold the securities to maturity. Available-for-sale securities are stated at their fair values, with the unrealized gains and losses, net of taxes, reported as a separate component of stockholders’ equity. The cost of securities sold is based on the specific identification method. Realized gains and losses, declines in value judged to be other than temporary, interest and dividends on available-for-sale securities are included in interest income. Net realized (losses) gains on marketable securities totaled $(81,000) in 2018, 30,000 in 2017 and $(39,000) in 2016. Of the total (losses) gains realized, reclassification from other comprehensive income totaled approximately ($81,000) in 2018, 30,000 in 2017, and $(39,000) in 2016. There were $3,000 gross unrealized gains on marketable securities as of December 31, 2018 and none as of December 31, 2017. Gross unrealized losses on marketable securities totaled $12,000 as of December 31, 2018 and $70,000 as of December 31, 2017. The net unrealized loss on marketable securities totaled $9,000 as of December 31, 2018 and $70,000 as of December 31, 2017. The amortized cost basis, fair value and net unrealized loss of the available-for-sale securities are as follows: December 31, 2018 2017 Type of Securities Amortized Fair Net Amortized Fair Net (in thousands) Municipal Obligations $ 1,490 $ 1,490 $ — $ 13,101 $ 13,031 $ (70 ) Corporate Obligations 6,184 6,175 (9 ) — — — Total $ 7,674 $ 7,665 $ (9 ) $ 13,101 $ 13,031 $ (70 ) Municipal obligations consist primarily of municipal notes rated AA- or higher ranging in maturity from less than one year to over 20 years. Corporate obligations consist primarily of debentures and notes issued by other companies ranging in maturity from one to five years. These securities are rated BBB or higher. Investments with remaining maturities of less than 12 months are considered to be current marketable securities. Investments with remaining maturities greater than 12 months are considered to be non-current marketable securities. The Company’s non-current marketable securities are scheduled to mature between 2020 and 2022. Accounts Receivable Inventories Property, Plant and Equipment Goodwill and Other Intangibles Investments Warranty Costs (in thousands) 2018 2017 Balance at beginning of year $ 5,373 $ 4,629 Less: Payments made during the year (3,944 ) (2,599 ) Add: Warranty provision for the current year 3,901 3,436 Changes to warranty provision for prior years 277 (93 ) Balance at end of year $ 5,607 $ 5,373 Insurance Accruals Research and Development Costs Repurchase Obligations Income Taxes Stock-Based Compensation Earnings per Share Restricted shares of common stock (participating securities) outstanding and a reconciliation of weighted average shares outstanding is as follows: (In thousands) 2018 2017 2016 Net income available for stockholders $ 28,488 $ 19,300 $ 16,745 Less: Adjustments for earnings attributable to participating securities (762 ) (595 ) (535 ) Net income used in calculating earnings per share $ 27,726 $ 18,705 $ 16,210 Weighted average shares outstanding (including participating securities) 34,529 34,843 37,857 Adjustment for participating securities (959 ) (1,091 ) (1,224 ) Shares used in calculating diluted earnings per share 33,570 33,752 36,633 Fair Value of Financial Instruments Concentration of Suppliers Recent Accounting Pronouncements During the year ended December 31, 2018, the FASB issued the following Accounting Standards Updates (ASUs): Recently Adopted Accounting Pronouncements: · Accounting Standards Update (ASU) No. 2014-09, Revenue from Contacts with Customers (Topic 606) - · ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): · ASU No. 2016-15, Statement of Cash Flows (Topic 230): · ASU No. 2016-16, Income Taxes (Topic 740): · ASU No. 2017-01, Business Combinations (Topic 805): · ASU No. 2017-09 —Compensation —Stock Compensation (Topic 718): Recently Issued Accounting Standards Not Yet Adopted: To be adopted in 2019: · Leases (Topic 842). · ASU No. 2017-08 —Receivables —Nonrefundable Fees and Other Costs (Subtopic 310-20): · ASU No. 2018-02—Income Statement—Reporting Comprehensive Income (Topic 220)— · ASU No. 2018-07 —Compensation —Stock Compensation (Topic 718) — To be adopted in 2020 and later: · ASU No. 2016-13, Financial Instruments — · ASU No. 2017-04 —Intangibles —Goodwill and Other (Topic 350): · ASU No. 2018-15 —Intangibles —Goodwill and Other —Internal-Use Software (Subtopic 350-40): .

Net sales

Net sales	12 Months Ended
	Dec. 31, 2018
NET SALES
Net sales	NOTE 2: Net Sales Accounting Policy - Nature of goods - · Boats and accessories (domestic sales) – upon delivery and acceptance by the dealer · Boats and accessories (international sales) – upon delivery to shipping port · Parts – upon shipment/delivery to carrier Payment terms - For most domestic customers, MPC manufactures and delivers boats and accessories and parts ahead of payment - i.e., MPC has fulfilled its performance obligations prior to submitting an invoice to the dealer. MPC invoices the customer when the products are delivered and receives the related compensation, typically within seven to ten business days after invoicing. For some domestic customers and all international customers, MPC requires payment prior to transferring control of the goods. These amounts are classified as deferred revenue and recognized when control has transferred, which generally occurs within three months of receiving the payment. When the Company enters into contracts with its customers, it generally expects there to be no significant timing difference between the date the goods have been delivered to the customer (satisfaction of the performance obligation) and the date cash consideration is received. Accordingly, there is no financing component to the Company’s arrangements with its customers. Significant judgments Determining the transaction price - · Inputs: · Assumption: Other Disaggregation of revenues The following table disaggregates our sales by major source: (in thousands) 2018 2017 2016 Boats and accessories $ 294,537 $ 263,275 $ 237,403 Parts 4,079 4,041 3,927 Net sales $ 298,616 $ 267,316 $ 241,330 The following table disaggregates our revenues between domestic and international: (in thousands) 2018 2017 2016 Domestic $ 279,175 $ 250,394 $ 220,139 International 19,441 16,922 21,191 Net sales $ 298,616 $ 267,316 $ 241,330 Timing of revenue recognition for each of the periods presented is shown below: (in thousands) 2018 2017 2016 Products transferred at a point in time $ 298,616 $ 267,316 $ 241,330 Products transferred over time - - - Net sales $ 298,616 $ 267,316 $ 241,330 Contract balances - (in thousands) 2018 2017 Deferred revenue $ 496 $ 864 Substantially all of the amounts of deferred revenue as of December 31, 2018 and December 31, 2017 were recognized as sales during the following quarter, when control transferred.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2018
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE	NOTE 3: ACCOUNTS RECEIVABLE Accounts receivable consist of the following: December 31, 2018 2017 (in thousands) Trade receivables $ 2,397 $ 1,377 Other 1,500 1,699 Total 3,897 3,076 Less: allowance for doubtful accounts (25 ) (25 ) Net accounts receivable $ 3,872 $ 3,051 Trade receivables consist primarily of balances related to the sales of boats which are shipped pursuant to “floor-plan financing” programs with qualified lenders. Other receivables consist primarily of rebate receivables from various suppliers. Changes in the Company’s allowance for doubtful accounts are disclosed in Schedule II on page 61 of this report.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2018
INVENTORIES
INVENTORIES	NOTE 4: INVENTORIES Inventories consist of the following: December 31, 2018 2017 (in thousands) Raw materials $ 26,874 $ 20,116 Work in process 10,671 8,300 Finished goods 9,225 9,590 Total inventories $ 46,770 $ 38,006

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2018
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 5: PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are presented at cost, net of accumulated depreciation, and consist of the following: December 31, Estimated 2018 2017 (in thousands) Land N/A $ 878 $ 878 Buildings 7-40 19,705 19,611 Operating equipment and property 3-15 11,016 10,360 Furniture and fixtures 5-7 1,785 1,488 Vehicles 5-10 7,381 6,276 Gross property, plant and equipment 40,765 38,613 Less: accumulated depreciation (26,213 ) (24,395 ) Net property, plant and equipment $ 14,552 $ 14,218 Depreciation expense was $1,820,000 in 2018, $1,526,000 in 2017 and $1,382,000 in 2016. The Company’s accounts payable for purchases of property and equipment was immaterial as of December 31, 2018, December 31, 2017 and December 31, 2016.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2018
ACCRUED EXPENSES AND OTHER LIABILITIES
ACCRUED EXPENSES AND OTHER LIABILITIES	NOTE 6: ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following: December 31, 2018 2017 (in thousands) Accrued payroll and related expenses $ 3,257 $ 3,116 Accrued sales incentives and discounts 3,547 3,969 Accrued warranty costs 5,607 5,373 Deferred revenue 496 864 Other 587 677 Total accrued expenses and other liabilities $ 13,494 $ 13,999

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
INCOME TAXES
INCOME TAXES	NOTE 7: INCOME TAXES The Tax Cuts and Jobs Act (“the Act”), effective January 1, 2018, included a reduction to the US federal tax rate from 35 percent to 21 percent, adjustment of deferred tax assets and liabilities for the new corporate income tax rate, and adjustments to deductible compensation of our executive officers. Included among other international provisions, the Act provides for a deduction on certain qualifying income related to export sales of property or services referred to as Foreign Derived Intangible Income (“FDII”), and the elimination of the US manufacturing deduction. In 2017, and the first nine months of 2018, the Company recorded provisional amounts for certain enactment-date effects of the Act by applying the guidance in SAB 118. In 2017, the Company recorded tax expense of $1.7 million related to the enactment-date effects of the Act that included adjusting deferred tax assets and liabilities for the new corporate income tax rate as well as accounting for the effects on executive compensation arrangements. In 2018, the Company adjusted the enactment-date provisional amounts by decreasing tax expense by $0.1 million. These adjustments were recorded as components of income tax expense from continuing operations. The Company applied the guidance in SAB 118 when accounting for the enactment-date effects of the Act in 2017 and throughout 2018 and as of December 31, 2018, has completed its accounting for all of the enactment-date income tax effects of the Act. As of December 31, 2018, the Company has analyzed the provisions of the Act that have been in effect from January 1, 2018 forward and incorporated its best estimates of these provisions, within the annual effective tax rate for 2018. Additionally, the Company estimated a tax benefit associated with FDII of $128 thousand, which has been reflected in the 2018 tax expense. The FDII benefit is based on current guidance and is subject to change, based upon future guidance being issued, in addition to the refinement of the calculations to be completed in connection with the filing of the Company’s 2018 US federal income tax return. The following table lists the components of the provision for income taxes: Years ended December 31, 2018 2017 2016 (in thousands) Current provision: Federal $ 6,173 $ 8,623 $ 7,263 State 616 546 261 Deferred (benefit) provision: Federal 384 1,511 (507 ) State (6 ) 8 (355 ) Total income tax provision $ 7,167 $ 10,688 $ 6,662 A reconciliation between the federal statutory rate and Marine Products’ effective tax rate is as follows: Years ended December 31, 2018 2017 2016 Federal statutory rate 21.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 1.5 1.1 0.7 Research and experimentation credit (0.8 ) (0.8 ) (1.0 ) Tax-exempt interest (0.1 ) (0.2 ) (0.4 ) Tax-exempt loss (gain) on SERP assets 0.3 (0.6 ) (1.3 ) Manufacturing deduction — (3.0 ) (3.0 ) FDII deduction (0.4 ) — — Change in valuation allowance (0.1 ) (0.1 ) (1.4 ) Adjustments related to the Act (0.3 ) 5.6 — Adjustments related to vesting of restricted stock (1.8 ) (2.4 ) — Other 0.8 1.0 (0.1 ) Effective tax rate 20.1 % 35.6 % 28.5 % Significant components of the Company’s deferred tax assets and liabilities are as follows: December 31, 2018 2017 (in thousands) Deferred tax assets: Warranty costs $ 1,233 $ 1,182 Sales incentives and discounts 317 348 Stock-based compensation 667 611 Pension 1,337 1,406 Uniform capitalization 44 47 All others 515 479 State credits and NOL’s 3,382 6,124 Valuation allowance (2,794 ) (5,447 ) Total deferred tax assets 4,701 4,750 Deferred tax liabilities: Depreciation and amortization expense (1,009 ) (781 ) Basis differences in joint venture (367 ) (320 ) Net deferred tax assets $ 3,325 $ 3,649 Total net income tax payments were $6,290,000 in 2018, $9,733,000 in 2017, and $6,546,000 in 2016. As of December 31, 2018, the Company had net operating loss carry forwards related to state income taxes of approximately $12.3 million and other state credits of approximately $3.5 million (gross) that will expire between 2020 and 2036. The Company does not have a valuation allowance related to net operating loss carryforwards due to implemented tax planning strategies. The Company has a valuation allowance against the corresponding deferred tax asset on all state tax credits because, at this time, the Company does not expect to utilize them. The Company’s policy is to record interest and penalties related to income tax matters as income tax expense. Accrued interest and penalties were immaterial as of December 31, 2018 and 2017. During 2018, the Company recognized an increase in its liability for unrecognized tax benefits related primarily to state income taxes, settlements, and voluntary disclosure agreements. The liability, if recognized, would affect our effective rate. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2018 2017 Balance at January 1 $ 243,000 $ 15,000 Additions based on tax positions related to the current year 81,000 12,000 Additions for tax positions of prior years 69,000 216,000 Balance at December 31 $ 393,000 $ 243,000 It is reasonably possible that the amount of the unrecognized benefits with respect to the Company’s unrecognized tax positions will increase or decrease in the next 12 months. These changes may be the result of, among other things, state tax settlements under voluntary disclosure agreements. However, quantification of an estimated range cannot be made at this time. The Company and its subsidiaries are subject to U.S. federal and state income tax in multiple jurisdictions. In many cases, the uncertain tax positions are related to tax years that remain open and subject to examination by the relevant taxing authorities. The Company’s 2015 through 2018 tax years remain open to examination. Additional years may be open to the extent attributes are being carried forward to an open year.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2018
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 8: ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss consists of the following: Pension Unrealized Total (in thousands) Balance at December 31, 2016 $ (2,151 ) $ (31 ) $ (2,182 ) Change during 2017: Before-tax amount 241 9 250 Tax expense (85 ) (3 ) (88 ) Reclassification adjustment, net of taxes Amortization of net loss 59 — 59 Net realized gain — (19 ) (19 ) Total activity in 2017 215 (13 ) 202 Balance at December 31, 2017 $ (1,936 ) $ (44 ) $ (1,980 ) Change during 2018: Before-tax amount (390 ) (20 ) (410 ) Tax benefit 85 4 89 Reclassification adjustment, net of taxes Amortization of net loss 63 — 63 Net realized loss — 63 63 Total activity in 2018 (242 ) 47 (195 ) Balance at December 31, 2018 $ (2,178 ) $ 3 $ (2,175 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 9: FAIR VALUE MEASUREMENTS The various inputs used to measure assets at fair value establish a hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three broad levels as follows: 1. Level 1 – Quoted market prices in active markets for identical assets or liabilities. 2. Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. 3. Level 3 – Unobservable inputs developed using the Company’s estimates and assumptions, which reflect those that market participants would use. The following table summarizes the valuation of financial instruments measured at fair value on a recurring basis on the balance sheet as of December 31, 2018 and 2017: Fair Value Measurements at December 31, 2018 with: (in thousands) Total Quoted prices in Significant Significant (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Municipal Obligations $ 1,490 $ — $ 1,490 $ — Corporate Obligations 6,175 — 6,175 — $ 7,665 $ — $ 7,665 $ — Investments measured at Net Asset Value- Trading securities $ 5,518 Fair Value Measurements at December 31, 2017 with: (in thousands) Total Quoted prices in Significant Significant (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Municipal Obligations $ 13,031 $ — $ 13,031 $ — Corporate Obligations — — — — $ 13,031 $ — $ 13,031 $ — Investments measured at Net Asset Value- Trading securities $ 6,031 The Company determines the fair value of the marketable securities that are available-for-sale through quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active. The trading securities are comprised of SERP assets, as described in Note 11, and are recorded primarily at their net cash surrender values calculated using their net asset values, which approximate fair value, as provided by the issuing insurance company. S ignificant observable inputs, in addition to quoted market prices, were used to value the trading securities. The Company’s policy is to recognize transfers between levels at the beginning of quarterly reporting periods. For the year ended December 31, 2018 there were no significant transfers in or out of levels 1, 2 or 3. The carrying amount of other financial instruments reported in the balance sheet for current assets and current liabilities approximate their fair values because of the short-term maturity of these instruments. The Company currently does not use the fair value option to measure any of its existing financial instruments and has not determined whether or not it will elect this option for financial instruments it may acquire in the future.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 10: COMMITMENTS AND CONTINGENCIES Lawsuits Dealer Floor Plan Financing There were no material repurchases of inventory under contractual agreements during 2018 or 2017. Management continues to monitor the risk of additional defaults and resulting repurchase obligations based in part on information provided by the third-party floor plan lenders and will adjust the guarantee liability at the end of each reporting period based on information reasonably available at that time. The Company currently has an agreement with one of the floor plan lenders whereby the contractual repurchase limit is to not exceed 16 percent of the average net receivables financed by the floor plan lender for dealers during the prior 12 month period, which was $15.0 million as of December 31, 2018. T Minimum annual operating lease obligations with terms in excess of one year, in effect at December 31, 2018, are summarized in the following table: (in thousands) 2019 $ 55 2020 54 2021 52 2022 52 2023 10 Thereafter — Total rental commitments $ 223 Total rent expense charged to operations was approximately $191,000 in 2018, $183,000 in 2017 and $181,000 in 2016. Income Taxes Employment Agreements

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2018
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	NOTE 11: EMPLOYEE BENEFIT PLANS Supplemental Executive Retirement Plan (“SERP”) The Company classifies the SERP assets as trading securities as described in Note 1. The fair value of these assets totaled $5,518,000 as of December 31, 2018 and $6,031,000 as of December 31, 2017. The SERP assets are reported in other assets on the consolidated balance sheets and changes related to the fair value of the assets are included in selling, general and administrative expenses in the consolidated statements of operations. Trading (losses) gains related to the SERP assets totaled ($544,000) in 2018, $470,000 in 2017 and $106,000 in 2016. The SERP liabilities are recorded on the balance sheet in pension liabilities with any change in the fair value of the SERP liabilities recorded as selling, general and administrative expenses in the consolidated statements of operations. In connection with death of an executive officer during 2016, the Company recorded tax free gains of approximately $751 thousand comprised of the following: $556 thousand generated by the insurance death proceeds under a Company-owned life insurance contract of approximately $1.9 million less cash surrender value of approximately $1.4 million, and $195 thousand as a result of insurance death benefits from a key-man life insurance policy. The net gain is reflected as part of selling, general and administrative expenses in 2016. Retirement Income Plan The Company’s fair value of the plan assets exceeded the projected benefit obligation for its Retirement Income Plan by $969,000 and thus the plan was over-funded as of December 31, 2018. The following table sets forth the funded status of the Retirement Income Plan and the amounts recognized in Marine Products’ consolidated balance sheets: December 31, 2018 2017 (in thousands) ACCUMULATED BENEFIT OBLIGATION, END OF YEAR $ 5,833 $ 6,379 CHANGE IN PROJECTED BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 6,379 $ 6,083 Service cost — — Interest cost 251 266 Actuarial loss (554 ) 273 Benefits paid (243 ) (243 ) Projected benefit obligation at end of year $ 5,833 $ 6,379 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 6,722 $ 6,032 Actual return on plan assets (447 ) 933 Employer contributions 770 — Benefits paid (243 ) (243 ) Fair value of plan assets at end of year $ 6,802 $ 6,722 Funded status at end of year $ 969 $ 343 December 31, 2018 2017 (in thousands) AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF: Noncurrent assets $ 969 $ 343 Current liabilities — — Noncurrent liabilities — — $ 969 $ 343 The funded status of the Retirement Income Plan was recorded in the consolidated balance sheets in other assets as of both December 31, 2018 and December 31, 2017. December 31, 2018 2017 (in thousands) AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF: Net loss $ 3,311 $ 2,997 Prior service cost (credit) — — Net transition obligation (asset) — — $ 3,311 $ 2,997 The accumulated benefit obligation for the Retirement Income Plan as of December 31, 2018 and 2017 has been disclosed above. The Company uses a December 31 measurement date for this qualified plan. Amounts recorded in the consolidated balance sheet as pension liabilities consist of: December 31, 2018 2017 (in thousands) SERP liability $ (7,045 ) $ (6,732 ) Funded status of Retirement Income Plan — — Pension liabilities $ (7,045 ) $ (6,732 ) Marine Products’ funding policy is to contribute to the Retirement Income Plan the amount required, if any, under the Employee Retirement Income Security Act of 1974. Contributions to the plan totaled $770,000 during 2018. There were no contributions to the plan during 2017. The components of net periodic benefit cost of the Retirement Income Plan are summarized as follows: Years ended December 31, 2018 2017 2016 (in thousands) Service cost for benefits earned during the period $ — $ — $ — Interest cost on projected benefit obligation 251 266 274 Expected return on plan assets (501 ) (415 ) (406 ) Amortization of net loss 81 91 84 $ (169 ) $ (58 ) $ (48 ) The Company recognized a pre-tax increase to the funded status in accumulated other comprehensive income of $314,000 in 2018 compared to a pre-tax increase of $334,000 in 2017 and a pre-tax decrease of $390,000 in 2016. There were no previously unrecognized prior service costs during 2018, 2017 and 2016. The pre-tax amounts recognized in other comprehensive income for the years ended December 31, 2018, 2017 and 2016 are summarized as follows: (in thousands) 2018 2017 2016 Net loss (gain) $ 395 $ (243 ) $ 474 Amortization of net loss (81 ) (91 ) (84 ) Net transition obligation (asset) — — — Amount recognized in accumulated other comprehensive income $ 314 $ (334 ) $ 390 The amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost in 2019 are as follows: (in thousands) 2019 Amortization of net loss $ 94 Prior service cost (credit) — Net transition obligation (asset) — Estimated net periodic cost $ 94 The weighted average assumptions as of December 31 used to determine the projected benefit obligation and net benefit cost were as follows: December 31, 2018 2017 2016 PROJECTED BENEFIT OBLIGATION: Discount rate 4.65 % 4.05 % 4.50 % Rate of compensation increase N/A N/A N/A NET BENEFIT COST: Discount rate 4.05 % 4.50 % 4.75 % Expected return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase N/A N/A N/A The Company’s expected return on assets assumption is derived from a detailed periodic assessment by its management and investment advisor. It includes a review of anticipated future long-term performance of individual asset classes and consideration of the appropriate asset allocation strategy given the anticipated requirements of the plan to determine the average rate of earnings expected on the funds invested to provide for the pension plan benefits. While the assessment gives appropriate consideration to recent fund performance and historical returns, the rate of return assumption is derived primarily from a long-term, prospective view. Based on its recent assessment, the Company has concluded that its expected long-term return assumption of seven percent is reasonable. The plan’s weighted average asset allocation at December 31, 2018 and 2017 by asset category along with the target allocation for 2019 are as follows: Asset Category Target Percentage of Percentage of Cash and Cash Equivalents 0% - 3% 3.0 % 2.9 % Domestic Equity Securities 0% - 40% 39.5 42.3 International Equity Securities 0% - 30% 19.0 20.7 Fixed Income Securities 15% - 100% 29.1 23.8 Investments measured at net asset value 0% - 12% 9.4 10.3 Total 100.0 % 100.0 % 100.0 % For each of the asset categories in the pension plan, the investment strategy is identical – maximize the long-term rate of return on plan assets with an acceptable level of risk in order to minimize the cost of providing pension benefits. The investment policy establishes a target allocation for each asset class which is rebalanced as required. The plan utilizes a number of investment approaches, including but not limited to individual market securities, equity and fixed income funds in which the underlying securities are marketable, and debt funds to achieve this target allocation. Although not required, the Company is currently evaluating its contribution to the pension plan during fiscal year 2019. Some of our assets, primarily our private equity and real estate funds, do not have readily determinable market values given the specific investment structures involved and the nature of the underlying investments. For plan asset reporting as of December 31, 2018, publicly traded asset pricing was used where possible. For assets without readily determinable values, estimates were derived from investment manager statements combined with discussions focusing on underlying fundamentals and significant events. Additionally, these investments are valued based on the net asset value per share calculated by the funds in which the plan has invested and the valuation is based on significant non-observable inputs which do not have a readily determinable fair value. The valuations are subject to judgments and assumptions of the funds which may prove to be incorrect, resulting in risks of incorrect valuation of these investments. The Company seeks to mitigate these risks by evaluating the appropriateness of the funds’ judgments and assumptions by reviewing the financial data included in the funds’ financial statements for reasonableness. The following tables present our plan assets using the fair value hierarchy as of December 31, 2018 and 2017. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. See Note 8 for a brief description of the three levels under the fair value hierarchy. Fair Value Hierarchy as of December 31, 2018: Investments (in thousands) Total Level 1 Level 2 Cash and Cash Equivalents (1 ) $ 202 $ 202 $ — Fixed Income Securities (2 ) 1,979 — 1,979 Domestic Equity Securities (3 ) 2,693 993 1,700 International Equity Securities (4 ) 1,290 — 1,290 Total Assets in the Fair Value Hierarchy $ 6,164 $ 1,195 $ 4,969 Investments Measured at Net Asset Value 638 Investments at Fair Value $ 6,802 Fair Value Hierarchy as of December 31, 2017: Investments (in thousands) Total Level 1 Level 2 Cash and Cash Equivalents (1 ) $ 192 $ 192 $ — Fixed Income Securities (2 ) 1,601 — 1,601 Domestic Equity Securities (3 ) 2,844 1,047 1,797 International Equity Securities (4 ) 1,394 — 1,394 Total Assets in the Fair Value Hierarchy $ 6,031 $ 1,239 $ 4,792 Investments Measured at Net Asset Value 691 Investments at Fair Value $ 6,722 (1) Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds. (2) Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades. (3) Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets. (4) International equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets. The Company estimates that the future benefits payable for the Retirement Income Plan over the next ten years are as follows: (in thousands) 2019 $ 301 2020 294 2021 298 2022 295 2023 309 2024-2028 $ 1,704 401(k) Plan Effective January 1, 2019, the Company makes 100 percent matching contributions for each dollar of a participant’s contribution to the 401(k) Plan for the first three percent of his or her annual compensation and fifty cents for each dollar of a participant’s contribution to the 401(k) Plan for the next three percent of his or her annual compensation. Stock Incentive Plan The Company recognizes compensation expense for the unvested portion of awards outstanding over the remainder of the service period. The compensation cost recorded for these awards will be based on their fair value at grant date less the cost of estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods to reflect actual forfeitures. Pre-tax stock-based employee compensation expense was approximately $2,089,000 ($1,629,000 after tax) for 2018, $2,682,000 ($1,729,000 after tax) for 2017 and $2,624,000 ($1,692,000 after tax) for 2016. Stock Options The Company estimates the fair value of stock options as of the date of grant using the Black-Scholes option pricing model. The Company has not granted stock options to employees since 2004. There were no options exercised in 2018 and there have been no stock options outstanding since December 31, 2015. There was no tax benefit associated with the exercise of non-qualified stock options during 2018, 2017 or 2016. Restricted Stock The agreements under which the restricted stock is issued provide that shares awarded may not be sold or otherwise transferred until restrictions established under the stock plans have lapsed. Upon termination of employment from the Company, with the exception of death (fully vests), disability or retirement (partially vests based on duration of service), shares with restrictions are forfeited in accordance with the plan. The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2018: Shares Weighted Average Non-vested shares at January 1, 2018 1,040,800 $ 7.76 Granted 193,500 13.97 Vested (283,790 ) 6.45 Forfeited (2,800 ) 8.54 Non-vested shares at December 31, 2018 947,710 $ 9.41 The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2017: Shares Weighted Average Non-vested shares at January 1, 2017 1,200,900 $ 6.58 Granted 202,400 13.39 Vested (344,250 ) 6.92 Forfeited (18,250 ) 8.47 Non-vested shares at December 31, 2017 1,040,800 7.76 The fair value of restricted stock awards is based on the market price of the Company’s stock on the date of grant and is amortized to compensation expense on a straight line basis over the requisite service period. The weighted average grant date fair value of these restricted stock awards was $13.97 in 2018, $13.39 in 2017 and $5.77 in 2016. The total fair value of shares vested was approximately $4,289,000 in 2018, $4,432,000 in 2017 and $2,686,000 during 2016. For the year ending December 31, 2018 approximately $645,000 of excess tax benefit for stock-based compensation awards has been recorded as a discrete tax adjustment and classified within operating activities in the consolidated statements of cash flows compared to approximately 718,000 as of December 31, 2017. Other Information

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 12: RELATED PARTY TRANSACTIONS In conjunction with its spin-off from RPC in 2001, the Company and RPC entered into various agreements that define the companies’ relationship after the spin-off. The Transition Support Services Agreement provides for RPC to provide certain services, including financial reporting and income tax administration, acquisition assistance, etc., to Marine Products until the agreement is terminated by either party. Marine Products reimbursed RPC for its estimated allocable share of administrative costs incurred for services rendered on behalf of Marine Products totaling $873,000 in 2018, $849,000 in 2017 and $739,000 in 2016. The Company’s payable due to RPC for these services was $28,000 as of December 31, 2018 and $47,000 as of December 31, 2017. Many of the Company’s directors are also directors of RPC and all of the Company’s executive officers are employees of both the Company and RPC. The Employee Benefits Agreement provides for, among other things, the Company’s employees to continue participating subsequent to the spin-off in two RPC sponsored benefit plans, specifically, the defined contribution 401(k) plan and the defined benefit retirement income plan. RPC and Marine Products own 50 percent each of a limited liability company called 255 RC, LLC that was created for the joint purchase and ownership of a corporate aircraft. The purchase of the aircraft was completed in January 2016, and the purchase was funded primarily by a $2,554,000 contribution by each company to 255 RC, LLC. Each of RPC and Marine Products is a party to an operating lease agreement with 255 RC, LLC for a period of five years. Marine Products recorded certain net operating costs comprised of rent and an allocable share of fixed costs of approximately $159,000 in 2018 and $157,000 in 2017 and 2016 for the corporate aircraft. The Company accounts for this investment using the equity method and its proportionate share of income or loss is recorded in selling, general and administrative expenses. As of December 31, 2018, the investment closely approximates the underlying equity in the net assets of 255 RC, LLC. A group that includes the Company’s Chairman of the Board, R. Randall Rollins and his brother Gary W. Rollins, who is also director of the Company, and certain companies under their control, controls in excess of fifty percent of the Company’s voting power.

SCHEDULE II-VALUATION AND QUALI

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS MARINE PRODUCTS CORPORATION AND SUBSIDIARIES (in thousands of dollars) For the years ended December 31, 2018, 2017 and 2016 Description Balance at Charged to Net Balance Year ended December 31, 2018 Allowance for doubtful accounts $ 25 $ — $ — $ 25 Deferred tax asset valuation allowance $ 5,447 $ — $ (2,653 ) $ 2,794 Year ended December 31, 2017 Allowance for doubtful accounts $ 25 $ — $ — $ 25 Deferred tax asset valuation allowance $ 4,525 $ 922 $ — $ 5,447 Year ended December 31, 2016 Allowance for doubtful accounts $ 25 $ — $ — $ 25 Deferred tax asset valuation allowance $ 4,694 $ — $ (169 ) $ 4,525

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
SIGNIFICANT ACCOUNTING POLICIES
Basis of Consolidation and Presentation	Basis of Consolidation and Presentation The consolidated financial statements included herein may not necessarily be indicative of the future results of operations, financial position and cash flows of Marine Products. The Company has only one reportable segment — its Powerboat Manufacturing business. The Company’s results of operations and its financial condition are not significantly reliant upon any single customer or product model. No single dealer accounted for more than 10 percent of net sales during 2018, 2017 or 2016. Net sales to the Company’s international dealers were approximately $19 million in 2018, $17 million in 2017, and $21 million in 2016.
Common Stock	Common Stock
Preferred Stock	Preferred Stock
Share Repurchases	Share Repurchases
Dividend	Dividend
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements
Sales Recognition	Sales Recognition –
Advertising	Advertising
Cash and Cash Equivalents	Cash and Cash Equivalents
Marketable Securities	Marketable Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designations as of each balance sheet date. Debt securities are classified as available-for-sale because the Company does not have the intent to hold the securities to maturity. Available-for-sale securities are stated at their fair values, with the unrealized gains and losses, net of taxes, reported as a separate component of stockholders’ equity. The cost of securities sold is based on the specific identification method. Realized gains and losses, declines in value judged to be other than temporary, interest and dividends on available-for-sale securities are included in interest income. Net realized (losses) gains on marketable securities totaled $(81,000) in 2018, 30,000 in 2017 and $(39,000) in 2016. Of the total (losses) gains realized, reclassification from other comprehensive income totaled approximately ($81,000) in 2018, 30,000 in 2017, and $(39,000) in 2016. There were $3,000 gross unrealized gains on marketable securities as of December 31, 2018 and none as of December 31, 2017. Gross unrealized losses on marketable securities totaled $12,000 as of December 31, 2018 and $70,000 as of December 31, 2017. The net unrealized loss on marketable securities totaled $9,000 as of December 31, 2018 and $70,000 as of December 31, 2017. The amortized cost basis, fair value and net unrealized loss of the available-for-sale securities are as follows: December 31, 2018 2017 Type of Securities Amortized Fair Net Amortized Fair Net (in thousands) Municipal Obligations $ 1,490 $ 1,490 $ — $ 13,101 $ 13,031 $ (70 ) Corporate Obligations 6,184 6,175 (9 ) — — — Total $ 7,674 $ 7,665 $ (9 ) $ 13,101 $ 13,031 $ (70 ) Municipal obligations consist primarily of municipal notes rated AA- or higher ranging in maturity from less than one year to over 20 years. Corporate obligations consist primarily of debentures and notes issued by other companies ranging in maturity from one to five years. These securities are rated BBB or higher. Investments with remaining maturities of less than 12 months are considered to be current marketable securities. Investments with remaining maturities greater than 12 months are considered to be non-current marketable securities. The Company’s non-current marketable securities are scheduled to mature between 2020 and 2022.
Accounts Receivable	Accounts Receivable
Inventories	Inventories
Property, Plant and Equipment	Property, Plant and Equipment
Goodwill and Other Intangibles	Goodwill and Other Intangibles
Investments	Investments
Warranty Costs	Warranty Costs (in thousands) 2018 2017 Balance at beginning of year $ 5,373 $ 4,629 Less: Payments made during the year (3,944 ) (2,599 ) Add: Warranty provision for the current year 3,901 3,436 Changes to warranty provision for prior years 277 (93 ) Balance at end of year $ 5,607 $ 5,373
Insurance Accruals	Insurance Accruals
Research and Development Costs	Research and Development Costs
Repurchase Obligations	Repurchase Obligations
Income Taxes	Income Taxes
Stock-Based Compensation	Stock-Based Compensation
Earnings per Share	Earnings per Share Restricted shares of common stock (participating securities) outstanding and a reconciliation of weighted average shares outstanding is as follows: (In thousands) 2018 2017 2016 Net income available for stockholders $ 28,488 $ 19,300 $ 16,745 Less: Adjustments for earnings attributable to participating securities (762 ) (595 ) (535 ) Net income used in calculating earnings per share $ 27,726 $ 18,705 $ 16,210 Weighted average shares outstanding (including participating securities) 34,529 34,843 37,857 Adjustment for participating securities (959 ) (1,091 ) (1,224 ) Shares used in calculating diluted earnings per share 33,570 33,752 36,633
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Concentration of Suppliers	Concentration of Suppliers
Recent Accounting Pronouncements	Recent Accounting Pronouncements During the year ended December 31, 2018, the FASB issued the following Accounting Standards Updates (ASUs): Recently Adopted Accounting Pronouncements: · Accounting Standards Update (ASU) No. 2014-09, Revenue from Contacts with Customers (Topic 606) - · ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): · ASU No. 2016-15, Statement of Cash Flows (Topic 230): · ASU No. 2016-16, Income Taxes (Topic 740): · ASU No. 2017-01, Business Combinations (Topic 805): · ASU No. 2017-09 —Compensation —Stock Compensation (Topic 718): Recently Issued Accounting Standards Not Yet Adopted: To be adopted in 2019: · Leases (Topic 842). · ASU No. 2017-08 —Receivables —Nonrefundable Fees and Other Costs (Subtopic 310-20): · ASU No. 2018-02—Income Statement—Reporting Comprehensive Income (Topic 220)— · ASU No. 2018-07 —Compensation —Stock Compensation (Topic 718) — To be adopted in 2020 and later: · ASU No. 2016-13, Financial Instruments — · ASU No. 2017-04 —Intangibles —Goodwill and Other (Topic 350): · ASU No. 2018-15 —Intangibles —Goodwill and Other —Internal-Use Software (Subtopic 350-40): .

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
SIGNIFICANT ACCOUNTING POLICIES
Schedule of amortized cost basis, fair value and net unrealized gains on the available-for-sale securities	December 31, 2018 2017 Type of Securities Amortized Fair Net Amortized Fair Net (in thousands) Municipal Obligations $ 1,490 $ 1,490 $ — $ 13,101 $ 13,031 $ (70 ) Corporate Obligations 6,184 6,175 (9 ) — — — Total $ 7,674 $ 7,665 $ (9 ) $ 13,101 $ 13,031 $ (70 )
Schedule of analysis of warranty accruals	(in thousands) 2018 2017 Balance at beginning of year $ 5,373 $ 4,629 Less: Payments made during the year (3,944 ) (2,599 ) Add: Warranty provision for the current year 3,901 3,436 Changes to warranty provision for prior years 277 (93 ) Balance at end of year $ 5,607 $ 5,373
Schedule of reconciliation of weighted average shares outstanding	(In thousands) 2018 2017 2016 Net income available for stockholders $ 28,488 $ 19,300 $ 16,745 Less: Adjustments for earnings attributable to participating securities (762 ) (595 ) (535 ) Net income used in calculating earnings per share $ 27,726 $ 18,705 $ 16,210 Weighted average shares outstanding (including participating securities) 34,529 34,843 37,857 Adjustment for participating securities (959 ) (1,091 ) (1,224 ) Shares used in calculating diluted earnings per share 33,570 33,752 36,633

Net sales (Tables)

Net sales (Tables)	12 Months Ended
	Dec. 31, 2018
NET SALES
Schedule of disaggregation of revenues	(in thousands) 2018 2017 2016 Boats and accessories $ 294,537 $ 263,275 $ 237,403 Parts 4,079 4,041 3,927 Net sales $ 298,616 $ 267,316 $ 241,330 (in thousands) 2018 2017 2016 Domestic $ 279,175 $ 250,394 $ 220,139 International 19,441 16,922 21,191 Net sales $ 298,616 $ 267,316 $ 241,330 (in thousands) 2018 2017 2016 Products transferred at a point in time $ 298,616 $ 267,316 $ 241,330 Products transferred over time - - - Net sales $ 298,616 $ 267,316 $ 241,330
Schedule of contract balances	(in thousands) 2018 2017 Deferred revenue $ 496 $ 864

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2018
ACCOUNTS RECEIVABLE
Schedule of accounts receivable	December 31, 2018 2017 (in thousands) Trade receivables $ 2,397 $ 1,377 Other 1,500 1,699 Total 3,897 3,076 Less: allowance for doubtful accounts (25 ) (25 ) Net accounts receivable $ 3,872 $ 3,051

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2018
INVENTORIES
Schedule of Inventory	December 31, 2018 2017 (in thousands) Raw materials $ 26,874 $ 20,116 Work in process 10,671 8,300 Finished goods 9,225 9,590 Total inventories $ 46,770 $ 38,006

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2018
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	December 31, Estimated 2018 2017 (in thousands) Land N/A $ 878 $ 878 Buildings 7-40 19,705 19,611 Operating equipment and property 3-15 11,016 10,360 Furniture and fixtures 5-7 1,785 1,488 Vehicles 5-10 7,381 6,276 Gross property, plant and equipment 40,765 38,613 Less: accumulated depreciation (26,213 ) (24,395 ) Net property, plant and equipment $ 14,552 $ 14,218

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
ACCRUED EXPENSES AND OTHER LIABILITIES
Schedule of accrued expenses and other liabilities	December 31, 2018 2017 (in thousands) Accrued payroll and related expenses $ 3,257 $ 3,116 Accrued sales incentives and discounts 3,547 3,969 Accrued warranty costs 5,607 5,373 Deferred revenue 496 864 Other 587 677 Total accrued expenses and other liabilities $ 13,494 $ 13,999

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
INCOME TAXES
Schedule of components of the provision for income taxes	Years ended December 31, 2018 2017 2016 (in thousands) Current provision: Federal $ 6,173 $ 8,623 $ 7,263 State 616 546 261 Deferred (benefit) provision: Federal 384 1,511 (507 ) State (6 ) 8 (355 ) Total income tax provision $ 7,167 $ 10,688 $ 6,662
Schedule of reconciliation between the federal statutory rate and Marine Products' effective tax rate	Years ended December 31, 2018 2017 2016 Federal statutory rate 21.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 1.5 1.1 0.7 Research and experimentation credit (0.8 ) (0.8 ) (1.0 ) Tax-exempt interest (0.1 ) (0.2 ) (0.4 ) Tax-exempt loss (gain) on SERP assets 0.3 (0.6 ) (1.3 ) Manufacturing deduction — (3.0 ) (3.0 ) FDII deduction (0.4 ) — — Change in valuation allowance (0.1 ) (0.1 ) (1.4 ) Adjustments related to the Act (0.3 ) 5.6 — Adjustments related to vesting of restricted stock (1.8 ) (2.4 ) — Other 0.8 1.0 (0.1 ) Effective tax rate 20.1 % 35.6 % 28.5 %
Schedule of components of deferred tax assets and liabilities	December 31, 2018 2017 (in thousands) Deferred tax assets: Warranty costs $ 1,233 $ 1,182 Sales incentives and discounts 317 348 Stock-based compensation 667 611 Pension 1,337 1,406 Uniform capitalization 44 47 All others 515 479 State credits and NOL’s 3,382 6,124 Valuation allowance (2,794 ) (5,447 ) Total deferred tax assets 4,701 4,750 Deferred tax liabilities: Depreciation and amortization expense (1,009 ) (781 ) Basis differences in joint venture (367 ) (320 ) Net deferred tax assets $ 3,325 $ 3,649
Schedule of unrecognized tax benefits	2018 2017 Balance at January 1 $ 243,000 $ 15,000 Additions based on tax positions related to the current year 81,000 12,000 Additions for tax positions of prior years 69,000 216,000 Balance at December 31 $ 393,000 $ 243,000

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2018
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of accumulated other comprehensive loss	Pension Unrealized Total (in thousands) Balance at December 31, 2016 $ (2,151 ) $ (31 ) $ (2,182 ) Change during 2017: Before-tax amount 241 9 250 Tax expense (85 ) (3 ) (88 ) Reclassification adjustment, net of taxes Amortization of net loss 59 — 59 Net realized gain — (19 ) (19 ) Total activity in 2017 215 (13 ) 202 Balance at December 31, 2017 $ (1,936 ) $ (44 ) $ (1,980 ) Change during 2018: Before-tax amount (390 ) (20 ) (410 ) Tax benefit 85 4 89 Reclassification adjustment, net of taxes Amortization of net loss 63 — 63 Net realized loss — 63 63 Total activity in 2018 (242 ) 47 (195 ) Balance at December 31, 2018 $ (2,178 ) $ 3 $ (2,175 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
Schedule of the valuation of financial instruments measured at fair value on a recurring basis	Fair Value Measurements at December 31, 2018 with: (in thousands) Total Quoted prices in Significant Significant (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Municipal Obligations $ 1,490 $ — $ 1,490 $ — Corporate Obligations 6,175 — 6,175 — $ 7,665 $ — $ 7,665 $ — Investments measured at Net Asset Value- Trading securities $ 5,518 Fair Value Measurements at December 31, 2017 with: (in thousands) Total Quoted prices in Significant Significant (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Municipal Obligations $ 13,031 $ — $ 13,031 $ — Corporate Obligations — — — — $ 13,031 $ — $ 13,031 $ — Investments measured at Net Asset Value- Trading securities $ 6,031

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
Schedule of annual operating lease obligations with terms in excess of one year	(in thousands) 2019 $ 55 2020 54 2021 52 2022 52 2023 10 Thereafter — Total rental commitments $ 223

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2018
EMPLOYEE BENEFIT PLANS
Schedule of funded status of the retirement income plan	December 31, 2018 2017 (in thousands) ACCUMULATED BENEFIT OBLIGATION, END OF YEAR $ 5,833 $ 6,379 CHANGE IN PROJECTED BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 6,379 $ 6,083 Service cost — — Interest cost 251 266 Actuarial loss (554 ) 273 Benefits paid (243 ) (243 ) Projected benefit obligation at end of year $ 5,833 $ 6,379 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 6,722 $ 6,032 Actual return on plan assets (447 ) 933 Employer contributions 770 — Benefits paid (243 ) (243 ) Fair value of plan assets at end of year $ 6,802 $ 6,722 Funded status at end of year $ 969 $ 343 December 31, 2018 2017 (in thousands) AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF: Noncurrent assets $ 969 $ 343 Current liabilities — — Noncurrent liabilities — — $ 969 $ 343 December 31, 2018 2017 (in thousands) AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF: Net loss $ 3,311 $ 2,997 Prior service cost (credit) — — Net transition obligation (asset) — — $ 3,311 $ 2,997
Schedule of amounts recorded in the consolidated balance sheets	December 31, 2018 2017 (in thousands) SERP liability $ (7,045 ) $ (6,732 ) Funded status of Retirement Income Plan — — Pension liabilities $ (7,045 ) $ (6,732 )
Schedule of net periodic benefit cost	Years ended December 31, 2018 2017 2016 (in thousands) Service cost for benefits earned during the period $ — $ — $ — Interest cost on projected benefit obligation 251 266 274 Expected return on plan assets (501 ) (415 ) (406 ) Amortization of net loss 81 91 84 $ (169 ) $ (58 ) $ (48 )
Schedule of amounts recognized in other comprehensive loss	(in thousands) 2018 2017 2016 Net loss (gain) $ 395 $ (243 ) $ 474 Amortization of net loss (81 ) (91 ) (84 ) Net transition obligation (asset) — — — Amount recognized in accumulated other comprehensive income $ 314 $ (334 ) $ 390
Schedule of components of net periodic benefit	(in thousands) 2019 Amortization of net loss $ 94 Prior service cost (credit) — Net transition obligation (asset) — Estimated net periodic cost $ 94
Schedule of weighted average assumptions	December 31, 2018 2017 2016 PROJECTED BENEFIT OBLIGATION: Discount rate 4.65 % 4.05 % 4.50 % Rate of compensation increase N/A N/A N/A NET BENEFIT COST: Discount rate 4.05 % 4.50 % 4.75 % Expected return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase N/A N/A N/A
Schedule of allocation of plan assets	Asset Category Target Percentage of Percentage of Cash and Cash Equivalents 0% - 3% 3.0 % 2.9 % Domestic Equity Securities 0% - 40% 39.5 42.3 International Equity Securities 0% - 30% 19.0 20.7 Fixed Income Securities 15% - 100% 29.1 23.8 Investments measured at net asset value 0% - 12% 9.4 10.3 Total 100.0 % 100.0 % 100.0 %
Schedule of plan assets using the fair value hierarchy	Fair Value Hierarchy as of December 31, 2018: Investments (in thousands) Total Level 1 Level 2 Cash and Cash Equivalents (1 ) $ 202 $ 202 $ — Fixed Income Securities (2 ) 1,979 — 1,979 Domestic Equity Securities (3 ) 2,693 993 1,700 International Equity Securities (4 ) 1,290 — 1,290 Total Assets in the Fair Value Hierarchy $ 6,164 $ 1,195 $ 4,969 Investments Measured at Net Asset Value 638 Investments at Fair Value $ 6,802 Fair Value Hierarchy as of December 31, 2017: Investments (in thousands) Total Level 1 Level 2 Cash and Cash Equivalents (1 ) $ 192 $ 192 $ — Fixed Income Securities (2 ) 1,601 — 1,601 Domestic Equity Securities (3 ) 2,844 1,047 1,797 International Equity Securities (4 ) 1,394 — 1,394 Total Assets in the Fair Value Hierarchy $ 6,031 $ 1,239 $ 4,792 Investments Measured at Net Asset Value 691 Investments at Fair Value $ 6,722 (1) Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds. (2) Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades. (3) Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets. (4) International equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
Schedule of future benefits payable for the retirement income plan over the next ten years	(in thousands) 2019 $ 301 2020 294 2021 298 2022 295 2023 309 2024-2028 $ 1,704
Schedule of summary of the changes in non-vested restricted shares	Shares Weighted Average Non-vested shares at January 1, 2018 1,040,800 $ 7.76 Granted 193,500 13.97 Vested (283,790 ) 6.45 Forfeited (2,800 ) 8.54 Non-vested shares at December 31, 2018 947,710 $ 9.41 Shares Weighted Average Non-vested shares at January 1, 2017 1,200,900 $ 6.58 Granted 202,400 13.39 Vested (344,250 ) 6.92 Forfeited (18,250 ) 8.47 Non-vested shares at December 31, 2017 1,040,800 7.76

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Amortized cost basis, fair value and net unrealized gains of available-for-sale securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	$ 7,674	$ 13,101
Fair Value	7,665	13,031
Net Unrealized Loss	(9)	(70)
Municipal Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	1,490	13,101
Fair Value	1,490	13,031
Net Unrealized Loss	0	(70)
Corporate Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	6,184	0
Fair Value	6,175	0
Net Unrealized Loss	$ (9)	$ 0

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Analysis of warranty accruals (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 5,373	$ 4,629
Less: Payments made during the year	(3,944)	(2,599)
Add: Warranty provision for the current year	3,901	3,436
Changes to warranty provision for prior years	277	(93)
Balance at end of year	$ 5,607	$ 5,373

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of weighted average shares outstanding (Details 2) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income available for stockholders	$ 28,488	$ 19,300	$ 16,745
Less: Adjustments for earnings attributable to participating securities	(762)	(595)	(535)
Net income used in calculating earnings per share	$ 27,726	$ 18,705	$ 16,210
Weighted average shares outstanding (including participating securities)	34,529	34,843	37,857
Adjustment for participating securities	(959)	(1,091)	(1,224)
Shares used in calculating diluted earnings per share	33,570	33,752	36,633

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Concentration Risk [Line Items]
Net sales to all dealers	$ 298,616	$ 267,316	$ 241,330
Net Sales | International Dealer
Concentration Risk [Line Items]
Number of reportable segment | Segment	1
Net sales to all dealers	$ 19,000	$ 17,000	$ 21,000
Net Sales | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, customer	No single dealer accounted for more than 10 percent of net sales	No single dealer accounted for more than 10 percent of net sales	No single dealer accounted for more than 10 percent of net sales
Concentration risk, benchmark description	more than 10 percent	more than 10 percent	more than 10 percent

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 1) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
SIGNIFICANT ACCOUNTING POLICIES
Number of common stock share authorized to issue	74,000,000	74,000,000
Common stock, par value (in dollar per share)	$ 0.10	$ 0.10
Number of votes each common shareholders entitled to provide	one vote
Number of preferred stock share authorized to issue	1,000,000	1,000,000
Preferred stock, par value (in dollar per share)	$ 0.10	$ 0.10

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 2) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 22, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Significant Accounting Policies [Line Items]
Prepaid expenses related to unamortized product brochure costs		$ 243,000	$ 342,000
Net realized (losses) gains on marketable securities		(81,000)	30,000	$ (39,000)
Reclassification of net realized (losses) gains from other comprehensive income		(81,000)	30,000	(39,000)
Gross unrealized gains on marketable securities		3,000	0
Gross unrealized losses on marketable securities		12,000	70,000
Unrealized loss on marketable securities totaled		9,000	70,000
Selling, general and administrative expenses
Significant Accounting Policies [Line Items]
Advertising expenses		$ 2,468,000	$ 2,305,000	$ 2,545,000
Dividend declared
Significant Accounting Policies [Line Items]
Amount of dividend payable in cash per share		$ 0.10
Subsequent Event | Dividend declared
Significant Accounting Policies [Line Items]
Percentage of increased dividends payable	20.00%
Amount of dividend payable in cash per share	$ 0.12
Dividends payable, date declared	Jan. 22, 2019
Dividend payable, date to be payable	Mar. 11, 2019
Dividends payable, date of record	Feb. 11, 2019

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 3)	12 Months Ended
	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Period of maturity debentures	one to five years
Period of current marketable securities	less than 12 months
Period of non-current marketable securities	greater than 12 months
Maturity term of non-current marketable securities	between 2020 and 2022
Municipal debt obligations | AA- or higher
Schedule of Available-for-sale Securities [Line Items]
Period of maturity debt obligations	less than one year to over 20 years

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 4)	12 Months Ended
	Dec. 31, 2018USD ($)SupplierEngine	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Significant Accounting Policies [Line Items]
Goodwill	$ 3,308,000	$ 3,308,000
Research and development costs	$ 822,000	$ 960,000	$ 858,000
Statutory federal income tax rate	21.00%	35.00%	35.00%
Number of supplier | Supplier	4
Number of types of engines | Engine	3
Methods of depreciation	straight-line basis
Earliest tax year
Significant Accounting Policies [Line Items]
Statutory federal income tax rate	35.00%
Latest tax year
Significant Accounting Policies [Line Items]
Statutory federal income tax rate	21.00%
Accounts Receivable
Significant Accounting Policies [Line Items]
Percentage of domestic shipments made pursuant to floor plan financing	68.00%

NET SALES (Disaggregates sales

NET SALES (Disaggregates sales by major source) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net sales	$ 298,616	$ 267,316	$ 241,330
Boats And accessories
Disaggregation of Revenue [Line Items]
Net sales	294,537	263,275	237,403
Parts
Disaggregation of Revenue [Line Items]
Net sales	$ 4,079	$ 4,041	$ 3,927

NET SALES (Disaggregates revenu

NET SALES (Disaggregates revenues between domestic and international) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net sales	$ 298,616	$ 267,316	$ 241,330
Domestic
Disaggregation of Revenue [Line Items]
Net sales	279,175	250,394	220,139
International
Disaggregation of Revenue [Line Items]
Net sales	$ 19,441	$ 16,922	$ 21,191

NET SALES (Timing of revenue re

NET SALES (Timing of revenue recognition) (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net sales	$ 298,616	$ 267,316	$ 241,330
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	298,616	267,316	241,330
Products transferred over time
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

NET SALES (Deferred revenue and

NET SALES (Deferred revenue and are included in Accrued expenses and other liabilities on the Consolidated Balance Sheets) (Details 3) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 496	$ 864
Accrued expenses and other liabilities
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 496	$ 864

NET SALES (Detail Textuals)

NET SALES (Detail Textuals)	12 Months Ended
	Dec. 31, 2018
NET SALES
Revenue, description of payment terms	seven to ten business days

ACCOUNTS RECEIVABLE - Summary o

ACCOUNTS RECEIVABLE - Summary of accounts receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts receivable
Trade receivables	$ 2,397	$ 1,377
Other	1,500	1,699
Total	3,897	3,076
Less: allowance for doubtful accounts	(25)	(25)
Net accounts receivable	$ 3,872	$ 3,051

INVENTORIES - Summary of invent

INVENTORIES - Summary of inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
INVENTORIES
Raw materials	$ 26,874	$ 20,116
Work in process	10,671	8,300
Finished goods	9,225	9,590
Total inventories	$ 46,770	$ 38,006

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are presented at cost, net of accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 40,765	$ 38,613
Less: accumulated depreciation	(26,213)	(24,395)
Net property, plant and equipment	14,552	14,218
Land
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	878	878
Buildings
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 19,705	19,611
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Operating equipment and property
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 11,016	10,360
Operating equipment and property | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Operating equipment and property | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	13 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,785	1,488
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Vehicles
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 7,381	$ 6,276
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
PROPERTY, PLANT AND EQUIPMENT
Depreciation expense	$ 1,820	$ 1,526	$ 1,382

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of accrued expenses and other liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ACCRUED EXPENSES AND OTHER LIABILITIES
Accrued payroll and related expenses	$ 3,257	$ 3,116
Accrued sales incentives and discounts	3,547	3,969
Accrued warranty costs	5,607	5,373
Deferred revenue	496	864
Other	587	677
Total accrued expenses and other liabilities	$ 13,494	$ 13,999

INCOME TAXES - Components of pr

INCOME TAXES - Components of provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current provision:
Federal	$ 6,173	$ 8,623	$ 7,263
State	616	546	261
Deferred (benefit) provision:
Federal	384	1,511	(507)
State	(6)	8	(355)
Total income tax provision	$ 7,167	$ 10,688	$ 6,662

INCOME TAXES - Reconciliation b

INCOME TAXES - Reconciliation between the federal statutory rate and effective tax rate (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
INCOME TAXES
Federal statutory rate	21.00%	35.00%	35.00%
State income taxes, net of federal benefit	1.50%	1.10%	0.70%
Research and experimentation credit	(0.80%)	(0.80%)	(1.00%)
Tax-exempt interest	(0.10%)	(0.20%)	(0.40%)
Tax-exempt gain on SERP assets	0.30%	(0.60%)	(1.30%)
Manufacturing deduction	(0.00%)	(3.00%)	(3.00%)
FDII deduction	(0.40%)	0.00%	0.00%
Change in valuation allowance	(0.10%)	(0.10%)	(1.40%)
Adjustments related to the Act	(0.30%)	5.60%	0.00%
Adjustments related to vesting of restricted stock	(1.80%)	(2.40%)	0.00%
Other	0.80%	1.00%	(0.10%)
Effective tax rate	20.10%	35.60%	28.50%

INCOME TAXES - Significant comp

INCOME TAXES - Significant components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Warranty costs	$ 1,233	$ 1,182
Sales incentives and discounts	317	348
Stock-based compensation	667	611
Pension	1,337	1,406
Uniform capitalization	44	47
All others	515	479
State credits and NOL's	3,382	6,124
Valuation allowance	(2,794)	(5,447)
Total deferred tax assets	4,701	4,750
Deferred tax liabilities:
Depreciation and amortization expense	(1,009)	(781)
Basis differences in joint venture	(367)	(320)
Net deferred tax assets	$ 3,325	$ 3,649

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of beginning and ending amount of unrecognized tax benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 243,000	$ 15,000
Additions based on tax positions related to the current year	81,000	12,000
Additions for tax positions of prior years	69,000	216,000
Balance at December 31	$ 393,000	$ 243,000

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Statutory federal income tax rate	21.00%	35.00%	35.00%
Discrete income tax provision adjustment		$ 1,700,000
Total net income tax payments	$ 6,290,000	$ 9,733,000	$ 6,546,000
Adjusted enactment date provisional amounts of decreasing tax expense	100,000
Estimated tax benefit associated with FDII	$ 128,000
Terms of expiration and cancellation of aggregate repurchase obligation	less than one year
Earliest tax year
Operating Loss Carryforwards [Line Items]
Statutory federal income tax rate	35.00%
Latest tax year
Operating Loss Carryforwards [Line Items]
Statutory federal income tax rate	21.00%
State income taxes
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards related to state income taxes	$ 12,300,000
Other state credits
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards related to state income taxes	$ 3,500,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of accumulated other comprehensive (loss) income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ (1,980)	$ (2,182)
Change during period:
Before-tax amount	(410)	250
Tax benefit (expense)	89	(88)
Reclassification adjustment, net of taxes
Amortization of net loss	63	59
Net realized gain (loss)	63	(19)
Total activity in period	(195)	202
Balance	(2,175)	(1,980)
Pension Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(1,936)	(2,151)
Change during period:
Before-tax amount	(390)	241
Tax benefit (expense)	85	(85)
Reclassification adjustment, net of taxes
Amortization of net loss	63	59
Net realized gain (loss)	0	0
Total activity in period	(242)	215
Balance	(2,178)	(1,936)
Unrealized Loss on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(44)	(31)
Change during period:
Before-tax amount	(20)	9
Tax benefit (expense)	4	(3)
Reclassification adjustment, net of taxes
Amortization of net loss	0	0
Net realized gain (loss)	63	(19)
Total activity in period	47	(13)
Balance	$ 3	$ (44)

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of valuation of financial instruments measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale securities
Available-for-sale securities:	$ 7,665	$ 13,031
Fair value on a recurring basis
Available-for-sale securities
Available-for-sale securities:	7,665	13,031
Investments measured at Net Asset Value - Trading securities	5,518	6,031
Fair value on a recurring basis | Municipal Obligations
Available-for-sale securities
Available-for-sale securities:	1,490	13,031
Fair value on a recurring basis | Corporate Obligations
Available-for-sale securities
Available-for-sale securities:	6,175	0
Fair value on a recurring basis | Quoted prices in active markets for identical assets, Level 1
Available-for-sale securities
Available-for-sale securities:	0	0
Fair value on a recurring basis | Quoted prices in active markets for identical assets, Level 1 | Municipal Obligations
Available-for-sale securities
Available-for-sale securities:	0	0
Fair value on a recurring basis | Quoted prices in active markets for identical assets, Level 1 | Corporate Obligations
Available-for-sale securities
Available-for-sale securities:	0	0
Fair value on a recurring basis | Significant other observable inputs, Level 2
Available-for-sale securities
Available-for-sale securities:	7,665	13,031
Fair value on a recurring basis | Significant other observable inputs, Level 2 | Municipal Obligations
Available-for-sale securities
Available-for-sale securities:	1,490	13,031
Fair value on a recurring basis | Significant other observable inputs, Level 2 | Corporate Obligations
Available-for-sale securities
Available-for-sale securities:	6,175	0
Fair value on a recurring basis | Significant unobservable inputs, Level 3
Available-for-sale securities
Available-for-sale securities:	0	0
Fair value on a recurring basis | Significant unobservable inputs, Level 3 | Municipal Obligations
Available-for-sale securities
Available-for-sale securities:	0	0
Fair value on a recurring basis | Significant unobservable inputs, Level 3 | Corporate Obligations
Available-for-sale securities
Available-for-sale securities:	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Minimum annual operating lease obligation (Details) $ in Thousands	Dec. 31, 2018USD ($)
COMMITMENTS AND CONTINGENCIES
2,019	$ 55
2,020	54
2,021	52
2,022	52
2,023	10
Thereafter	0
Total rental commitments	$ 223

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Detail Textuals) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
COMMITMENTS AND CONTINGENCIES
Repurchase limit in percentage of amount of average net receivables	16.00%
Maximum repurchase obligation for one lender	$ 15
Maximum repurchase obligation all additional lenders	5.7
Aggregate repurchase obligation	$ 20.7

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Detail Textuals 1)	12 Months Ended
	Dec. 31, 2018USD ($)Employee	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments And Contingencies [Line Items]
Selling, general and administrative expenses	$ 30,936,000	$ 29,261,000	$ 27,415,000
Total rent expense charged to operations	191,000	183,000	181,000
Long-term deferred tax liabilities	$ 393,000	191,000
Employment agreement
Commitments And Contingencies [Line Items]
Number of employees | Employee	1
Monthly payment in percentage of profits	10.00%
Selling, general and administrative expenses	$ 4,630,000	$ 4,068,000	$ 4,202,000

EMPLOYEE BENEFIT PLANS - Funded

EMPLOYEE BENEFIT PLANS - Funded status of Retirement Income Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CHANGE IN PLAN ASSETS:
Funded status at end of year	$ 0	$ 0
Retirement Income Plan
Defined Benefit Plan Disclosure [Line Items]
ACCUMULATED BENEFIT OBLIGATION, END OF YEAR	5,833	6,379
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	6,379	6,083
Service cost	0	0	$ 0
Interest cost	251	266	274
Actuarial loss (gain)	(554)	273
Benefits paid	(243)	(243)
Projected benefit obligation at end of year	5,833	6,379	6,083
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	6,722	6,032
Actual return on plan assets	(447)	933
Employer contributions	770	0
Benefits paid	(243)	(243)
Fair value of plan assets at end of year	6,802	6,722	6,032
Funded status at end of year	969	343
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF:
Noncurrent assets	969	343
Current liabilities	0	0
Noncurrent liabilities	0	0
Amounts recognized in balance sheet, Total	969	343
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS CONSIST OF:
Net loss	3,311	2,997
Prior service cost (credit)	0	0
Net transition obligation (asset)	0	0	$ 0
Amounts recognized in other comprehensive income before tax, Total	$ 3,311	$ 2,997

EMPLOYEE BENEFIT PLANS - Amount

EMPLOYEE BENEFIT PLANS - Amounts recorded in consolidated balance sheet as pension liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
EMPLOYEE BENEFIT PLANS
SERP liability	$ (7,045)	$ (6,732)
Funded status of Retirement Income Plan	0	0
Pension liabilities	$ (7,045)	$ (6,732)

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of net periodic benefit cost (Details) - Retirement Income Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned during the period	$ 0	$ 0	$ 0
Interest cost on projected benefit obligation	251	266	274
Expected return on plan assets	(501)	(415)	(406)
Amortization of net loss	81	91	84
Net periodic benefit, Total	$ (169)	$ (58)	$ (48)

EMPLOYEE BENEFIT PLANS - Pre-ta

EMPLOYEE BENEFIT PLANS - Pre-tax amounts recognized in other comprehensive income (Details) - Retirement Income Plan - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain)	$ 395	$ (243)	$ 474
Amortization of net loss	(81)	(91)	(84)
Net transition obligation (asset)	0	0	0
Amount recognized in accumulated other comprehensive income	$ 314	$ (334)	$ 390

EMPLOYEE BENEFIT PLANS - Summar

EMPLOYEE BENEFIT PLANS - Summary of accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost in 2019 (Details) $ in Thousands	Dec. 31, 2018USD ($)
EMPLOYEE BENEFIT PLANS
Amortization of net loss	$ 94
Prior service cost (credit)	0
Net transition obligation (asset)	0
Estimated net periodic cost	$ 94

EMPLOYEE BENEFIT PLANS - Projec

EMPLOYEE BENEFIT PLANS - Projected benefit obligation and net benefit cost (Details) - Retirement Income Plan	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
PROJECTED BENEFIT OBLIGATION:
Discount rate	4.65%	4.05%	4.50%
Rate of compensation increase
NET BENEFIT COST:
Discount rate	4.05%	4.50%	4.75%
Expected return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted average asset allocation by asset category along with target allocation (Details) - Retirement Income Plan	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	100.00%	100.00%
Target Allocation for 2019	100.00%
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	3.00%	2.90%
Domestic Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	39.50%	42.30%
International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	19.00%	20.70%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	29.10%	23.80%
Investments measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	9.40%	10.30%
Minimum | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	0.00%
Minimum | Domestic Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	0.00%
Minimum | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	0.00%
Minimum | Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	15.00%
Minimum | Investments measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	0.00%
Maximum | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	3.00%
Maximum | Domestic Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	40.00%
Maximum | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	30.00%
Maximum | Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	100.00%
Maximum | Investments measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Target Allocation for 2019	12.00%

EMPLOYEE BENEFIT PLANS - Plan a

EMPLOYEE BENEFIT PLANS - Plan assets using fair value hierarchy (Details) - Retirement Income Plan - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Total
Defined Benefit Plan Disclosure [Line Items]
Investments measured at Net Asset Value		$ 638	$ 691
Investments at Fair Value		6,802	6,722
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[1]	202	192
Cash and Cash Equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[1]	202	192
Cash and Cash Equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[1]	0	0
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[2]	1,979	1,601
Fixed Income Securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[2]	0	0
Fixed Income Securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[2]	1,979	1,601
Domestic Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[3]	2,693	2,844
Domestic Equity Securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[3]	993	1,047
Domestic Equity Securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[3]	1,700	1,797
International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[4]	1,290	1,394
International Equity Securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[4]	0	0
International Equity Securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy	[4]	1,290	1,394
Investment | Total
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy		6,164	6,031
Investment | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy		1,195	1,239
Investment | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets in the Fair Value Hierarchy		$ 4,969	$ 4,792
[1]	Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.
[2]	Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.
[3]	Domestic equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.
[4]	International equity securities are valued using a market approach based on the quoted market prices of identical instruments in their respective markets.

EMPLOYEE BENEFIT PLANS - Estima

EMPLOYEE BENEFIT PLANS - Estimates that future benefits payable for Retirement Income Plan (Details) - Retirement Income Plan $ in Thousands	Dec. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
2,019	$ 301
2,020	294
2,021	298
2,022	295
2,023	309
2024-2028	$ 1,704

EMPLOYEE BENEFIT PLANS - Summ_2

EMPLOYEE BENEFIT PLANS - Summary of changes in non-vested restricted shares (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Shares
Non-vested shares	1,040,800	1,200,900
Granted	193,500	202,400
Vested	(283,790)	(344,250)
Forfeited	(2,800)	(18,250)
Non-vested shares	947,710	1,040,800	1,200,900
Weighted Average Grant-Date Fair Value
Non-vested shares	$ 7.76	$ 6.58
Granted	13.97	13.39	$ 5.77
Vested	6.45	6.92
Forfeited	8.54	8.47
Non-vested shares	$ 9.41	$ 7.76	$ 6.58

EMPLOYEE BENEFIT PLANS (Detail

EMPLOYEE BENEFIT PLANS (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation above (below) fair value of the plan assets	$ 0	$ 0
Executive officer death
Defined Benefit Plan Disclosure [Line Items]
Tax free gains from executive officer death			$ 751,000
Proceeds from death insurance			556,000
Amount of Company-owned life insurance contract			1,900,000
Value of cash surrender value			1,400,000
Executive officer death | Key-man life insurance policy
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation above (below) fair value of the plan assets			195,000
Supplemental Executive Retirement Plan (SERP)
Defined Benefit Plan Disclosure [Line Items]
Variable life insurance policies investment amount	5,900,000	6,600,000
Fair value of plan assets	5,518,000	6,031,000
Trading (losses) gains related to the SERP assets	(544,000)	470,000	106,000
Retirement Income Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,802,000	6,722,000	6,032,000
Benefit obligation above (below) fair value of the plan assets	969,000	343,000
Employer contributions	770,000	0
Accumulated other comprehensive Income (loss), before tax	$ 314,000	$ (334,000)	$ 390,000
Assumption for expected long-term return	7.00%	7.00%	7.00%

EMPLOYEE BENEFIT PLANS (Detai_2

EMPLOYEE BENEFIT PLANS (Detail Textuals 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Maximum percentage of annual contribution per employee	25.00%
Percentage of employer matching contribution	50.00%
Threshold limit percentage of employee compensation	6.00%
Maximum period of vesting in contribution of employees	3 years
Employer matching contribution	$ 319,000	$ 317,000	$ 270,000
Percentage of matching contributions	100.00%
Stock Incentive Plan
Defined Benefit Plan Disclosure [Line Items]
Number of common stock authorized to issue stock awards and options	3,000,000
Period of stock options and restricted stock issued	10 years
Number of shares available for grants	1,871,700
Pre-tax stock-based employee compensation expense	$ 2,089,000	2,682,000	2,624,000
After tax stock-based employee compensation expense	$ 1,629,000	$ 1,729,000	$ 1,692,000

EMPLOYEE BENEFIT PLANS (Detai_3

EMPLOYEE BENEFIT PLANS (Detail Textuals 2) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefits for compensation expense for restricted stock			$ 160,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum threshold limit percentage of incentive stock option grants to owners	10.00%
Percentage of fair market value of the common stock	110.00%
Stock based compensation award, vesting period	5 years
Expiry period of the stock	10 years
Expiry period of the stock of the majority owners	5 years
Fair value of stock options method used	Black-Scholes option pricing model
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation award, vesting percentage	20.00%
Stock based compensation award, vesting period from date of grant	6 years
Weighted average grant date fair value (in dollars per share)	$ 13.97	$ 13.39	$ 5.77
Total fair value of shares vested	$ 4,289,000	$ 4,432,000	$ 2,686,000
Tax benefits for compensation expense for restricted stock	645,000	$ 718,000
Unrecognized compensation cost related to non-vested restricted shares	$ 7,073,000
Unrecognized compensation cost related to non-vested restricted shares recognized period	3 years 2 months 12 days

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Company's voting power held by a group	one vote
R Randall Rollins And Gary W Rollins
Related Party Transaction [Line Items]
Company's voting power held by a group	excess of fifty percent
RPC | Transition Support Services Agreement
Related Party Transaction [Line Items]
Aggregate service charges paid	$ 873,000	$ 849,000	$ 739,000
Receivable (payable) due from (to) related party	$ (28,000)	(47,000)
255 RC, LLC | RPC
Related Party Transaction [Line Items]
Joint venture ownership interest percentage	50.00%
Operating lease agreement term	5 years
Investment in joint venture	$ 2,554,000
Rent and allocable fixed cost for corporate aircraft	$ 159,000	$ 157,000	$ 157,000

SCHEDULE II-VALUATION AND QUA_2

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 25	$ 25	$ 25
Charged to Costs and Expenses	0	0	0
Net (Write-Offs)/ Recoveries	0	0	0
Balance at End of Period	25	25	25
Deferred tax asset valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	5,447	4,525	4,694
Charged to Costs and Expenses	0	922	0
Net (Write-Offs)/ Recoveries	(2,653)	0	(169)
Balance at End of Period	$ 2,794	$ 5,447	$ 4,525