Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 01, 2016 | Aug. 03, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | EVANS & SUTHERLAND COMPUTER CORPORATION | |
Document Type | 10-Q | |
Document Period End Date | Jul. 1, 2016 | |
Trading Symbol | escc | |
Amendment Flag | false | |
Entity Central Index Key | 276,283 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 11,177,316 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jul. 01, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 3,242 | $ 3,734 |
Restricted cash | 602 | 601 |
Accounts receivable, net | 3,785 | 4,825 |
Costs and estimated earnings in excess of billings on uncompleted contracts | 3,053 | 2,695 |
Inventories, net | 4,431 | 4,072 |
Prepaid expenses and deposits | 714 | 1,038 |
Total current assets | 15,827 | 16,965 |
Property and equipment, net | 4,653 | 4,735 |
Goodwill | 635 | 635 |
Intangible assets, net | 13 | 27 |
Other assets | 1,184 | 1,082 |
Total assets | 22,312 | 23,444 |
Current liabilities: | ||
Accounts payable | 1,113 | 1,062 |
Accrued liabilities | 1,302 | 1,031 |
Billings in excess of costs and estimated earnings on uncompleted contracts | 3,998 | 3,995 |
Customer deposits | 2,836 | 3,232 |
Current portion of retirement obligations | 541 | 480 |
Current portion of pension settlement obligation | 356 | 356 |
Current portion of long-term debt | 206 | 199 |
Total current liabilities | 10,352 | 10,355 |
Pension and retirement obligations, net of current portion | 4,703 | 4,839 |
Pension settlement obligation, net of current portion | 5,268 | 5,268 |
Long-term debt, net of current portion | 1,853 | 1,975 |
Deferred rent obligation | 1,442 | 1,653 |
Total liabilities | 23,618 | 24,090 |
Stockholders' deficit: | ||
Preferred stock, no par value: 10,000,000 shares authorized; no shares outstanding | ||
Common stock, $0.20 par value: 30,000,000 shares authorized; 11,441,666 shares issued | 2,288 | 2,288 |
Additional paid-in-capital | 53,507 | 53,434 |
Common stock in treasury, at cost, 264,350 shares | (3,532) | (3,532) |
Accumulated deficit | (51,165) | (50,432) |
Accumulated other comprehensive loss | (2,404) | (2,404) |
Total stockholders' deficit | (1,306) | (646) |
Total liabilities and stockholders' deficit | $ 22,312 | $ 23,444 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jul. 01, 2016 | Dec. 31, 2015 |
Statement of Financial Position | ||
Preferred Stock, par value | ||
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares outstanding | ||
Common Stock, par value | $ 0.20 | $ 0.20 |
Common Stock, shares authorized | 30,000,000 | 30,000,000 |
Common Stock, shares issued | 11,441,666 | 11,441,666 |
Common stock in treasury, shares | 264,350 | 264,350 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2016 | Jul. 03, 2015 | Jul. 01, 2016 | Jul. 03, 2015 | |
Statement of Comprehensive Income | ||||
Sales | $ 5,268 | $ 10,289 | $ 13,168 | $ 18,291 |
Cost of sales | (3,699) | (6,896) | (8,896) | (11,907) |
Gross profit | 1,569 | 3,393 | 4,272 | 6,384 |
Operating expenses: | ||||
Selling, general and administrative | (1,766) | (1,755) | (3,437) | (3,597) |
Research and development | (569) | (544) | (1,156) | (1,139) |
Pension | (65) | (49) | (131) | (424) |
Pension settlement | (3,620) | (3,620) | ||
Total operating expenses | (2,400) | (5,968) | (4,724) | (8,780) |
Operating loss | (831) | (2,575) | (452) | (2,396) |
Other expense, net | (132) | (148) | (260) | (173) |
Loss before income tax provision | (963) | (2,723) | (712) | (2,569) |
Income tax provision (benefit) | (6) | 23 | (21) | (28) |
Net loss | $ (969) | $ (2,700) | $ (733) | $ (2,597) |
Net loss per common share - basic and diluted | $ (0.09) | $ (0.24) | $ (0.07) | $ (0.23) |
Weighted average common shares outstanding - basic | 11,177 | 11,158 | 11,177 | 11,123 |
Weighted average common shares outstanding - diluted | 11,177 | 11,158 | 11,177 | 11,123 |
Comprehensive income (loss), net of tax: | ||||
Net loss | $ (969) | $ (2,700) | $ (733) | $ (2,597) |
Other comprehensive income (loss): | ||||
Reclassification of pension expense to net income | 195 | |||
Pension settlement | 31,776 | 31,776 | ||
Other comprehensive income | 31,776 | 31,971 | ||
Total comprehensive income (loss) | $ (969) | $ 29,076 | $ (733) | $ 29,374 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 01, 2016 | Jul. 03, 2015 | |
Cash flows from operating activities: | ||
Net loss | $ (733) | $ (2,597) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 145 | 144 |
Amortization of deferred pension costs | 195 | |
Pension settlement charge | 3,620 | |
Provision for excess and obsolete inventory | 124 | 33 |
Other | 79 | 32 |
Changes in assets and liabilities: | ||
Decrease (increase) in restricted cash | (1) | 90 |
Decrease (increase) in accounts receivable | 1,034 | (1,072) |
Increase in inventories | (483) | (949) |
Increase in costs and estimated earnings in excess of billings on uncompleted contracts, net | (355) | (2,996) |
Decrease (increase) in prepaid expenses and other assets | 222 | (935) |
Increase in accounts payable | 51 | 367 |
Increase in accrued liabilities | 271 | 915 |
Decrease in pension and retirement obligations | (75) | (23) |
Decrease in pension settlement obligation | (1,485) | |
Increase (decrease) in customer deposits | (396) | 70 |
Decrease in deferred rent obligation | (211) | (212) |
Net cash used in operating activities | (328) | (4,803) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (49) | (27) |
Net cash used in investing activities | (49) | (27) |
Cash flows from financing activities: | ||
Principal payments on long-term debt | (115) | (109) |
Net cash used in financing activities | (115) | (109) |
Net decrease in cash and cash equivalents | (492) | (4,939) |
Cash and cash equivalents as of beginning of the period | 3,734 | 7,038 |
Cash and cash equivalents as of end of the period | 3,242 | 2,099 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for: Interest | 72 | 93 |
Cash paid during the period for: Income taxes | $ 11 | 11 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Settlement of pension liability | $ 35,869 |
1. General
1. General | 6 Months Ended |
Jul. 01, 2016 | |
Notes | |
1. General | 1. GENERAL Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Evans & Sutherland Computer Corporation and subsidiaries (collectively, the "Company" or "E&S") have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations, and cash flows, in conformity with U.S. generally accepted accounting principles ("US GAAP"). This report on Form 10-Q should be read in conjunction with the Company's annual report on Form 10-K for the year ended December 31, 2015. The accompanying unaudited condensed consolidated balance sheets, statements of comprehensive income (loss), and statements of cash flows reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position, results of operations and cash flows. The results of operations for the three and six months ended July 1, 2016 are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. The Company operates on a calendar year with the first three fiscal quarters ending on the last Friday of the thirteenth week in the quarter. Revenue Recognition Sales include revenues from system hardware and the related integrated software, database products and service contracts. The following methods are used to determine revenue recognition: Percentage of Completion In those arrangements where software is a significant component of the contract, the Company uses the percentage-of-completion method as described above. Completed Contract Multiple Element Arrangements Other Anticipated Losses Stock-Based Compensation Compensation cost for all stock-based awards is measured at fair value on the date of grant and is recognized over the service period for awards expected to vest. Determining the fair value of share-based awards at the grant date requires judgment, including estimating the value of share-based awards that are expected to be forfeited. Actual results and future estimates may differ from the Company's current estimates. Net Loss Per Common Share Basic net loss per common share is computed based on the weighted-average number of common shares outstanding during the period. Stock options are considered to be common stock equivalents in computing diluted net income per share, when applicable. When the Company incurs a loss, potentially dilutive common stock equivalents are excluded as their effect would be anti-dilutive, thereby decreasing the net loss per common share. Because there was a net loss for the periods presented, no common stock equivalents were used in the computation of the net loss per common share. Inventories, net Inventories consisted of the following: July 1, December 31, 2016 2015 Raw materials $6,135 $5,958 Work in process 1,489 1,265 Finished goods 302 220 Reserve for obsolete inventory (3,495) (3,371) Inventories, net $4,431 $4,072 |
2. Stock Option Plan
2. Stock Option Plan | 6 Months Ended |
Jul. 01, 2016 | |
Notes | |
2. Stock Option Plan | 2. STOCK OPTION PLAN As of July 1, 2016, options to purchase 1,252,581 shares of common stock under the Company's stock option plan were authorized and reserved for future grant. A summary of activity in the stock option plan for the six months ended July 1, 2016 follows (shares in thousands): Weighted- Average Number Exercise of Shares Price Outstanding as of beginning of the period 1,470 $1.53 Granted 226 0.89 Exercised - Forfeited or expired (175) 6.65 Outstanding as of end of the period 1,521 0.84 Exercisable as of end of the period 1,137 $0.92 As of July 1, 2016, options exercisable and options outstanding had a weighted average remaining contractual term of 4.50 and 5.63 years, respectively, and had an aggregate intrinsic value of $345 and $418, respectively. The Black-Scholes option-pricing model is used to estimate the fair value of options under the Company's stock option plan. The weighted average values of employee stock options granted under the stock option plan, as well as the weighted average assumptions used in calculating these values during the first six months of 2016, were based on estimates as of the date of grant as follows: Risk-free interest rate 1.17% Dividend yield 0% Volatility 258% Expected life 3.5 years Expected option life and volatility are based on historical data of the Company. The risk-free interest rate is calculated based on the average US Treasury bill rate that corresponds with the option life. Historically, the Company has not declared dividends and there are no foreseeable plans to do so. As of July 1, 2016, there was approximately $116 of total unrecognized share-based compensation cost related to grants under the stock option plan that will be recognized over a weighted-average period of 2.3 years. Share-based compensation expense included in selling, general and administrative expense in the statements of comprehensive income (loss) for each of the six-month periods ended July 1, 2016 and July 3, 2015 was $72 and $20, respectively. Share-based compensation expense included in selling, general and administrative expense in the statements of comprehensive income (loss) for each of the three-month periods ended July 1, 2016 and July 3, 2015 was $48 and $11, respectively. |
3. Employee Retirement Benefit
3. Employee Retirement Benefit Plans | 6 Months Ended |
Jul. 01, 2016 | |
Notes | |
3. Employee Retirement Benefit Plans | 3. EMPLOYEE RETIREMENT BENEFIT PLANS Settlement of Pension Plan Liabilities On April 21, 2015, the Company entered into a series of agreements to terminate its defined pension plan (the "Pension Plan") and settle the resulting liabilities. Pursuant to the agreements, as of July 1, 2016, the Company is obligated to pay eleven remaining installments of $750 to the Pension Benefit Guaranty Corporation (the "PBGC") due annually on October 31 of each year from 2016 through 2026 (the "Pension Settlement Obligation"). As security for the Pension Settlement Obligation, the Company granted to the PBGC a security interest on all of the Company's assets, subordinate to certain senior liens held by the Company's two senior lenders. The Pension Settlement Obligation is recorded net of imputed interest expense at 7%, as a liability on the balance sheet. The Company recorded pension expense of $326 attributable to the Pension Plan for the first quarter of 2015, which was prior to the April 2015 plan termination. As a result of the termination Pension Plan, the Company's only remaining pension obligation is the Supplemental Executive Retirement Plan ("SERP"). Employer Contributions The Company is not currently required to fund the SERP. All benefit payments are made by the Company directly to those who receive benefits from the SERP. As such, these payments are treated as both contributions and benefits paid for reporting purposes. The Company expects to contribute and pay SERP benefits of approximately $541 in the next 12 months. Components of Net Periodic Benefit Expense Supplemental Executive Pension Plan Retirement Plan July 1, July 3, July 1, July 3, For the three months ended: 2016 2015 2016 2015 Service cost $- $- $- $- Interest cost - - 48 44 Expected return on assets - - - - Amortization of actuarial loss - - 20 17 Amortization of prior year service cost - - (3) (12) Net periodic benefit expense - - 65 49 Insurance premium due PBGC - - - - $- $- $65 $49 Supplemental Executive Pension Plan Retirement Plan July 1, July 3, July 1, July 3, For the six months ended: 2016 2015 2016 2015 Service cost $- $- $- $- Interest cost - 617 95 88 Expected return on assets - (585) - - Amortization of actuarial loss - 195 41 34 Amortization of prior year service cost - - (5) (24) Net periodic benefit expense - 227 131 98 Insurance premium due PBGC - 99 - - $- $326 $131 $98 For the six-month period ended July 3, 2015, the Company reclassified $195 of actuarial loss from accumulated other comprehensive loss that was included in pension expense in the statements of comprehensive loss for the same period. |
1. General (Policies)
1. General (Policies) | 6 Months Ended |
Jul. 01, 2016 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Evans & Sutherland Computer Corporation and subsidiaries (collectively, the "Company" or "E&S") have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations, and cash flows, in conformity with U.S. generally accepted accounting principles ("US GAAP"). This report on Form 10-Q should be read in conjunction with the Company's annual report on Form 10-K for the year ended December 31, 2015. The accompanying unaudited condensed consolidated balance sheets, statements of comprehensive income (loss), and statements of cash flows reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position, results of operations and cash flows. The results of operations for the three and six months ended July 1, 2016 are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. The Company operates on a calendar year with the first three fiscal quarters ending on the last Friday of the thirteenth week in the quarter. |
Revenue Recognition | Revenue Recognition Sales include revenues from system hardware and the related integrated software, database products and service contracts. The following methods are used to determine revenue recognition: Percentage of Completion In those arrangements where software is a significant component of the contract, the Company uses the percentage-of-completion method as described above. Completed Contract Multiple Element Arrangements Other Anticipated Losses |
Stock-based Compensation | Stock-Based Compensation Compensation cost for all stock-based awards is measured at fair value on the date of grant and is recognized over the service period for awards expected to vest. Determining the fair value of share-based awards at the grant date requires judgment, including estimating the value of share-based awards that are expected to be forfeited. Actual results and future estimates may differ from the Company's current estimates. |
Net Income Per Common Share | Net Loss Per Common Share Basic net loss per common share is computed based on the weighted-average number of common shares outstanding during the period. Stock options are considered to be common stock equivalents in computing diluted net income per share, when applicable. When the Company incurs a loss, potentially dilutive common stock equivalents are excluded as their effect would be anti-dilutive, thereby decreasing the net loss per common share. Because there was a net loss for the periods presented, no common stock equivalents were used in the computation of the net loss per common share. |
Inventories, Net | Inventories, net Inventories consisted of the following: July 1, December 31, 2016 2015 Raw materials $6,135 $5,958 Work in process 1,489 1,265 Finished goods 302 220 Reserve for obsolete inventory (3,495) (3,371) Inventories, net $4,431 $4,072 |
1. General (Tables)
1. General (Tables) | 6 Months Ended |
Jul. 01, 2016 | |
Tables/Schedules | |
Schedule of Inventory | Inventories consisted of the following: July 1, December 31, 2016 2015 Raw materials $6,135 $5,958 Work in process 1,489 1,265 Finished goods 302 220 Reserve for obsolete inventory (3,495) (3,371) Inventories, net $4,431 $4,072 |
2. Stock Option Plan (Tables)
2. Stock Option Plan (Tables) | 6 Months Ended |
Jul. 01, 2016 | |
Tables/Schedules | |
Schedule of Stock Option Plan Activity | A summary of activity in the stock option plan for the six months ended July 1, 2016 follows (shares in thousands): Weighted- Average Number Exercise of Shares Price Outstanding as of beginning of the period 1,470 $1.53 Granted 226 0.89 Exercised - Forfeited or expired (175) 6.65 Outstanding as of end of the period 1,521 0.84 Exercisable as of end of the period 1,137 $0.92 |
Schedule of Stock Options Valuation Assumptions | The weighted average values of employee stock options granted under the stock option plan, as well as the weighted average assumptions used in calculating these values during the first six months of 2016, were based on estimates as of the date of grant as follows: Risk-free interest rate 1.17% Dividend yield 0% Volatility 258% Expected life 3.5 years |
3. Employee Retirement Benefi12
3. Employee Retirement Benefit Plans (Tables) | 6 Months Ended |
Jul. 01, 2016 | |
Tables/Schedules | |
Schedule of Net Periodic Benefit Expense | Supplemental Executive Pension Plan Retirement Plan July 1, July 3, July 1, July 3, For the three months ended: 2016 2015 2016 2015 Service cost $- $- $- $- Interest cost - - 48 44 Expected return on assets - - - - Amortization of actuarial loss - - 20 17 Amortization of prior year service cost - - (3) (12) Net periodic benefit expense - - 65 49 Insurance premium due PBGC - - - - $- $- $65 $49 Supplemental Executive Pension Plan Retirement Plan July 1, July 3, July 1, July 3, For the six months ended: 2016 2015 2016 2015 Service cost $- $- $- $- Interest cost - 617 95 88 Expected return on assets - (585) - - Amortization of actuarial loss - 195 41 34 Amortization of prior year service cost - - (5) (24) Net periodic benefit expense - 227 131 98 Insurance premium due PBGC - 99 - - $- $326 $131 $98 |
1. General_ Inventories, Net_ S
1. General: Inventories, Net: Schedule of Inventory (Details) - USD ($) $ in Thousands | Jul. 01, 2016 | Dec. 31, 2015 |
Details | ||
Raw Materials | $ 6,135 | $ 5,958 |
Work in process | 1,489 | 1,265 |
Finished goods | 302 | 220 |
Reserve for obsolete inventory | (3,495) | (3,371) |
Inventories, net | $ 4,431 | $ 4,072 |
2. Stock Option Plan (Details)
2. Stock Option Plan (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2016 | Jul. 03, 2015 | Jul. 01, 2016 | Jul. 03, 2015 | |
Options exercisable, weighted average remaining contractual term | 4 years 6 months | 5 years 7 months 17 days | ||
Options, Outstanding, Aggregate Intrinsic Value | $ 345 | $ 418 | $ 345 | $ 418 |
Total unrecognized share-based compensation cost | 116 | $ 116 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 3 months 18 days | |||
Allocated Share-based Compensation Expense | $ 48 | $ 11 | $ 72 | $ 20 |
Employee Stock Option | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,252,581 | 1,252,581 |
2. Stock Option Plan_ Schedule
2. Stock Option Plan: Schedule of Stock Option Plan Activity (Details) shares in Thousands | 6 Months Ended |
Jul. 01, 2016$ / sharesshares | |
Details | |
Outstanding as of the beginning of the period | 1,470 |
Outstanding as of the beginning of the period, weighted average exercise price | $ / shares | $ 1.53 |
Granted | 226 |
Granted, weighted average exercise price | $ / shares | $ 0.89 |
Exercised | |
Forfeited or expired | (175) |
Forfeited or expired, weighted average exercise price | $ / shares | $ 6.65 |
Outstanding as of the end of the period | 1,521 |
Outstanding as of the end of the period, weighted average exercise price | $ / shares | $ 0.84 |
Exercisable as of the end of the period | 1,137 |
Exercisable as of the end of the period, weighted average exercise price | $ / shares | $ 0.92 |
2. Stock Option Plan_ Schedul16
2. Stock Option Plan: Schedule of Stock Options Valuation Assumptions (Details) | 6 Months Ended |
Jul. 01, 2016 | |
Details | |
Risk-free interest rate | 1.17% |
Dividend yield | 0.00% |
Volatility | 258.00% |
Expected life | 3 years 6 months |
3. Employee Retirement Benefi17
3. Employee Retirement Benefit Plans (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Apr. 30, 2015 | Jul. 01, 2016 | Jul. 03, 2015 | Apr. 03, 2015 | Jul. 01, 2016 | Jul. 03, 2015 | Apr. 21, 2015 | |
Pension Plan Settlement Agreement, Payment Schedule | the Company is obligated to pay eleven remaining installments of $750 to the Pension Benefit Guaranty Corporation (the 'PBGC') due annually on October 31 of each year from 2016 through 2026 (the 'Pension Settlement Obligation'). | ||||||
Pension Settlement Obligation, Interest Rate | 7.00% | ||||||
Pension | $ 65 | $ 49 | $ 131 | $ 424 | |||
Reclassification of pension expense to net income | 195 | ||||||
Pension Plan | |||||||
Pension | 0 | 0 | $ 326 | 0 | 326 | ||
Supplemental Executive Retirement Plan | |||||||
Pension | 65 | $ 49 | 131 | $ 98 | |||
Expected Future Benefit Payments, Next Twelve Months | $ 541 | $ 541 |
3. Employee Retirement Benefi18
3. Employee Retirement Benefit Plans: Schedule of Net Periodic Benefit Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 01, 2016 | Jul. 03, 2015 | Apr. 03, 2015 | Jul. 01, 2016 | Jul. 03, 2015 | |
Pension | $ 65 | $ 49 | $ 131 | $ 424 | |
Pension Plan | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 0 | 0 | 0 | 617 | |
Expected return on assets | 0 | 0 | 0 | (585) | |
Amortization of actuarial loss | 0 | 0 | 0 | 195 | |
Amortization of prior year service cost | 0 | 0 | 0 | 0 | |
Net periodic benefit cost | 0 | 0 | 0 | 227 | |
Insurance premium due PBGC | 0 | 0 | 0 | 99 | |
Pension | 0 | 0 | $ 326 | 0 | 326 |
Supplemental Executive Retirement Plan | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 48 | 44 | 95 | 88 | |
Expected return on assets | 0 | 0 | 0 | 0 | |
Amortization of actuarial loss | 20 | 17 | 41 | 34 | |
Amortization of prior year service cost | (3) | (12) | (5) | (24) | |
Net periodic benefit cost | 65 | 49 | 131 | 98 | |
Insurance premium due PBGC | 0 | 0 | 0 | 0 | |
Pension | $ 65 | $ 49 | $ 131 | $ 98 |