The Gorman-Rupp Company (GRC) 10-Q29 Apr 192019 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2019	Apr. 26, 2019
Document Information [Line Items]
Entity Registrant Name	GORMAN RUPP CO
Entity Central Index Key	0000042682
Trading Symbol	grc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		26,124,393
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 96,859	$ 96,604
Cost of products sold	73,546	70,398
Gross profit	23,313	26,206
Selling, general and administrative expenses	14,363	14,356
Operating income	8,950	11,850
Other income (expense), net	292	806
Income before income taxes	9,242	12,656
Income taxes	2,020	3,039
Net income	$ 7,222	$ 9,617
Earnings per share (in dollars per share)	$ 0.28	$ 0.37
Cash dividends per share (in dollars per share)	$ 0.135	$ 0.125
Average number of shares outstanding (in shares)	26,118,891	26,106,623

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 7,222	$ 9,617
Other comprehensive income, net of tax:
Cumulative translation adjustments	(152)	189
Pension and postretirement medical liability adjustments	316	510
Other comprehensive income	164	699
Comprehensive income	$ 7,386	$ 10,316

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 50,177	$ 46,458
Accounts receivable, net	65,617	67,714
Inventories, net	85,359	87,387
Prepaid and other	6,838	7,127
Total current assets	207,991	208,686
Property, plant and equipment, net	112,228	113,493
Other assets	8,741	5,101
Prepaid pension assets	4,549	4,817
Goodwill and other intangible assets, net	35,835	36,185
Total assets	369,344	368,282
Current liabilities:
Accounts payable	16,259	16,678
Payroll and employee related liabilities	10,336	12,651
Commissions payable	7,303	9,222
Deferred revenue and customer deposits	6,000	5,232
Accrued expenses	5,623	4,682
Total current liabilities	45,521	48,465
Postretirement benefits	21,689	21,853
Other long-term liabilities	5,187	4,832
Total liabilities	72,397	75,150
Equity:
Common shares, without par value: Authorized – 35,000,000 shares; Outstanding – 26,123,692 shares at March 31, 2019 and 26,117,045 shares at December 31, 2018 (after deducting treasury shares of 925,104 and 931,751, respectively), at stated capital amounts	5,103	5,102
Additional paid-in capital	2,458	2,539
Retained earnings	312,645	308,914
Accumulated other comprehensive loss	(23,259)	(23,423)
Total equity	296,947	293,132
Total liabilities and equity	$ 369,344	$ 368,282

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares	Mar. 31, 2019	Dec. 31, 2018
Common shares, authorized (in shares)	35,000,000	35,000,000
Common shares, outstanding (in shares)	26,123,692	26,117,045
Treasury shares (in shares)	925,104	931,751

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 7,222	$ 9,617
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,566	3,600
Pension expense	659	879
Stock based compensation	55	237
Changes in operating assets and liabilities:
Accounts receivable, net	1,940	2,658
Inventories, net	1,893	(3,892)
Accounts payable	(342)	359
Commissions payable	(1,866)	354
Deferred revenue and customer deposits	768	869
Income taxes	714	3,014
Accrued expenses and other	(2,122)	(1,730)
Benefit obligations	(2,828)	(1,443)
Net cash provided by operating activities	9,659	14,522
Cash used for investing activities, capital additions	(2,124)	(2,033)
Cash used for financing activities:
Cash dividends	(3,526)	(3,263)
Other	(417)	(371)
Net cash used for financing activities	(3,943)	(3,634)
Effect of exchange rate changes on cash	127	(146)
Net increase in cash and cash equivalents	3,719	8,709
Cash and cash equivalents:
Beginning of period	46,458	79,680
End of period	$ 50,177	$ 88,389

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2017	26,106,623
Balance at Dec. 31, 2017	$ 5,100	$ 526	$ 332,378	$ (12,509)	$ 325,495
Net income			9,617		9,617
Other comprehensive loss				699	699
Cash dividends			(3,263)		(3,263)
Balances (in shares) at Mar. 31, 2018	26,106,623
Balance at Mar. 31, 2018	$ 5,100	526	338,732	(11,810)	332,548
Balances (in shares) at Dec. 31, 2018	26,117,045
Balance at Dec. 31, 2018	$ 5,102	2,539	308,914	(23,423)	293,132
Net income			7,222		7,222
Other comprehensive loss				164	164
Stock based compensation (in shares)	6,647
Stock based compensation	$ 1	(81)	35		(45)
Cash dividends			(3,526)		(3,526)
Balances (in shares) at Mar. 31, 2019	26,123,692
Balance at Mar. 31, 2019	$ 5,103	$ 2,458	$ 312,645	$ (23,259)	$ 296,947

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Retained Earnings [Member]
Cash dividends, amount per share (in dollars per share)	$ 0.135	$ 0.125
Cash dividends, amount per share (in dollars per share)	$ 0.135	$ 0.125

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation of Financial Statements	3 Months Ended
Note 1 - Basis of Presentation of Financial Statements	Mar. 31, 2019
Notes to Financial Statements
Basis of Accounting [Text Block]	NOTE 1 The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10 not three March 31, 2019 not may December 31, 2019. 10 December 31, 2018,

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Standards	3 Months Ended
Note 2 - Recently Issued Accounting Standards	Mar. 31, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 2 The Company considers the applicability and impact of all Accounting Standard Updates (“ASUs”). ASUs not not Recently Adopted Accounting Standards In February 2016, 2016 02, 842 one 2016 02. December 15, 2018 842 January 1, 2019. 9,

Note 3 - Revenue

Note 3 - Revenue	3 Months Ended
Note 3 - Revenue	Mar. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 3 Disaggregation of Revenue The following tables disaggregate total net sales by major product category and geographic location: Product Category March 31, 2019 March 31, 2018 Pumps and pump systems $ 82,522 $ 80,484 Repair parts for pumps and pump systems and other 14,337 16,120 Total net sales $ 96,859 $ 96,604 Geographic Location March 31, 2019 March 31, 2018 United States $ 67,702 $ 64,434 Foreign countries 29,157 32,170 Total net sales $ 96,859 $ 96,604 International sales represented approximately 30% 33% first 2019 2018, Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account in ASC Topic 606. not All of the Company's performance obligations, and associated revenue, are generally transferred to customers at a point in time, with the exception of certain highly customized pump products, which are transferred to the customer over time. The Company offers standard warranties for its products to ensure that its products comply with agreed-upon specifications in its contracts. For standard warranties, these do not Shipping and handling activities related to products sold to customers, whether performed before or after the customer obtains control of the products, are generally accounted for as activities to fulfill the promise to transfer the products and not On March 31, 2019, $120.8 one Contract Estimates Accounting for long-term contracts involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, the Company estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes that profit as performance obligations are satisfied. Contract estimates are based on various assumptions to project the outcome of future events that could span longer than one As a significant change in one Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Balance Sheets. For certain highly customized pump products, revenue is recognized over time before the customer is invoiced, resulting in contract assets. Sometimes the Company receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These contract assets and liabilities are reported in the Consolidated Balance Sheets as a component of Other assets and Deferred revenue and customer deposits, respectively, on a contract-by-contract basis at the end of each reporting period. The Company’s contract assets and liabilities as of March 31, 2019 December 31, 2018, March 31, 201 9 December 31 , 201 8 Contract assets $ 1,456 $ 1,953 Contract liabilities $ 6,000 $ 5,232 Revenue recognized for the three March 31, 2019 2018 $2.4 $1.5

Note 4 - Inventories

Note 4 - Inventories	3 Months Ended
Note 4 - Inventories	Mar. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 4 LIFO inventories are stated at the lower of cost or market and all other inventories are stated at the lower of cost or net realizable value. Replacement cost approximates current cost and the excess over LIFO cost is approximately $64.6 $63.7 March 31, 2019 December 31, 2018, $5.2 $5.3 March 31, 2019 December 31, 2018, Inventories are comprised of the following: Inventories, net: March 31, 2019 December 31, 2018 Raw materials and in-process $ 21,242 $ 21,773 Finished parts 52,809 54,209 Finished products 11,308 11,405 Total net inventories $ 85,359 $ 87,387

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	3 Months Ended
Note 5 - Property, Plant and Equipment	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 5 Property, plant and equipment, net consist of the following: March 31, 2019 December 31, 2018 Land $ 3,863 $ 3,869 Buildings 107,283 106,940 Machinery and equipment 179,201 177,668 290,347 288,477 Less accumulated depreciation (178,119 ) (174,984 ) Property, plant and equipment, net $ 112,228 $ 113,493

Note 6 - Product Warranties

Note 6 - Product Warranties	3 Months Ended
Note 6 - Product Warranties	Mar. 31, 2019
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	NOTE 6 A liability is established for estimated future warranty and service claims based on historical claims experience and specific product failures. The Company expenses warranty costs directly to Cost of products sold. Changes in the Company’s product warranties liability are: March 31, 2019 2018 Balance at beginning of year $ 1,380 $ 1,098 Provision 479 378 Claims (355 ) (415 ) Balance at end of period $ 1,504 $ 1,061

Note 7 - Pension and Other Post

Note 7 - Pension and Other Postretirement Benefits	3 Months Ended
Note 7 - Pension and Other Postretirement Benefits	Mar. 31, 2019
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 7 The Company sponsors a defined benefit pension plan (“Plan”) covering certain domestic employees. Benefits are based on each covered employee’s years of service and compensation. The Plan is funded in conformity with the funding requirements of applicable U.S. regulations. The Plan was closed to new participants effective January 1, 2008. 401 Additionally, the Company sponsors defined contribution pension plans made available to all domestic and Canadian employees. The Company funds the cost of these benefits as incurred. The Company also sponsors a non-contributory defined benefit postretirement health care plan that provides health benefits to certain domestic and Canadian retirees and eligible spouses and dependent children. The Company funds the cost of these benefits as incurred. The following tables present the components of net periodic benefit costs: Pension Benefits Postretirement Benefits Three Months Ended March 31 , Three Months Ended March 31 , 2019 2018 2019 2018 Service cost $ 567 $ 693 $ 271 $ 194 Interest cost 646 606 235 141 Expected return on plan assets (945 ) (1,204 ) - - Amortization of prior service cost - - (282 ) (283 ) Recognized actuarial loss (gain) 391 397 7 (103 ) Settlement loss - 387 - - Net periodic benefit cost $ 659 $ 879 $ 231 $ (51 ) During the three March 31, 2018, $0.4 No three March 31, 2019.

Note 8 - Accumulated Other Comp

Note 8 - Accumulated Other Comprehensive Income (Loss)	3 Months Ended
Note 8 - Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	NOTE 8 The reclassifications out of Accumulated other comprehensive income (loss) as reported in the Consolidated Statements of Income are: Three Months Ended 2019 2018 Pension and other postretirement benefits: Recognized actuarial loss (a) $ 398 $ 294 Settlement loss (b) - 387 Total before income tax $ 398 $ 681 Income tax (82 ) (171 ) Net of income tax $ 316 $ 510 (a) The recognized actuarial loss is included in Other income (expense), net in the Consolidated Statements of Income. (b) The settlement loss is included in Other income (expense), net in the Consolidated Statements of Income. The components of Accumulated other comprehensive income (loss) as reported in the Consolidated Balance Sheets are: Currency Pension and Accumulated Balance at December 31, 2018 $ (8,243 ) $ (15,180 ) $ (23,423 ) Reclassification adjustments - 398 398 Current period charge (185 ) - (185 ) Income tax benefit (charge) 33 (82 ) (49 ) Balance at March 31, 2019 $ (8,395 ) $ (14,864 ) $ (23,259 ) Currency Pension and Accumulated Balance at December 31, 2017 $ (5,321 ) $ (7,188 ) $ (12,509 ) Reclassification adjustments - 681 681 Current period benefit 189 - 189 Income tax charge - (171 ) (171 ) Balance at March 31, 2018 $ (5,132 ) $ (6,678 ) $ (11,810 )

Note 9 - Leases

Note 9 - Leases	3 Months Ended
Note 9 - Leases	Mar. 31, 2019
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE 9 On January 1, 2019, 2016 02 January 1, 2019 ( 2019 not not not 2016 02, not January 1, 2019. $1.6 January 1, 2019. The Company is currently a lessee under a number of operating leases and one none 1 5 5 1 not not Supplemental information related to leases and the Company’s Consolidated Financial Statements is as follows: Three Months Ended March 31, 2019 Components of lease costs: Operating lease costs $ 127 Short-term lease costs 111 Finance lease costs 5 Total lease costs $ 243 Weighted average remaining lease term (years): Operating leases 3.0 Finance lease 4.9 Weighted average discount rate: Operating leases 3.25 % Finance lease 3.25 % As of March 31, 2019 Operating Leases Financing Leases Total Leases Other assets - right-of-use assets $ 1,389 $ 279 $ 1,668 Lease liabilities included in: Accrued expenses - current portion of lease liabilities $ 668 $ 53 $ 721 Other long-term liabilities - non-current portion of lease liabilities 720 226 946 Total lease liabilities $ 1,388 $ 279 $ 1,667 Maturities of lease liabilities are as follows: As of March 31, 2019 As of December 31, 2018 2019 $ 589 $ 702 2020 486 411 2021 322 260 2022 186 124 2023 137 75 Thereafter 19 10 Total lease payments $ 1,739 $ 1,582 Less: Interest (72 ) Present value of lease liabilities $ 1,667

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	3 Months Ended
Note 3 - Revenue (Tables)	Mar. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Product Category March 31, 2019 March 31, 2018 Pumps and pump systems $ 82,522 $ 80,484 Repair parts for pumps and pump systems and other 14,337 16,120 Total net sales $ 96,859 $ 96,604 Geographic Location March 31, 2019 March 31, 2018 United States $ 67,702 $ 64,434 Foreign countries 29,157 32,170 Total net sales $ 96,859 $ 96,604
Contract with Customer, Asset and Liability [Table Text Block]	March 31, 201 9 December 31 , 201 8 Contract assets $ 1,456 $ 1,953 Contract liabilities $ 6,000 $ 5,232

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	3 Months Ended
Note 4 - Inventories (Tables)	Mar. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories, net: March 31, 2019 December 31, 2018 Raw materials and in-process $ 21,242 $ 21,773 Finished parts 52,809 54,209 Finished products 11,308 11,405 Total net inventories $ 85,359 $ 87,387

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	3 Months Ended
Note 5 - Property, Plant and Equipment (Tables)	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2019 December 31, 2018 Land $ 3,863 $ 3,869 Buildings 107,283 106,940 Machinery and equipment 179,201 177,668 290,347 288,477 Less accumulated depreciation (178,119 ) (174,984 ) Property, plant and equipment, net $ 112,228 $ 113,493

Note 6 - Product Warranties (Ta

Note 6 - Product Warranties (Tables)	3 Months Ended
Note 6 - Product Warranties (Tables)	Mar. 31, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	March 31, 2019 2018 Balance at beginning of year $ 1,380 $ 1,098 Provision 479 378 Claims (355 ) (415 ) Balance at end of period $ 1,504 $ 1,061

Note 7 - Pension and Other Po_2

Note 7 - Pension and Other Postretirement Benefits (Tables)	3 Months Ended
Note 7 - Pension and Other Postretirement Benefits (Tables)	Mar. 31, 2019
Notes Tables
Schedule of Costs of Retirement Plans [Table Text Block]	Pension Benefits Postretirement Benefits Three Months Ended March 31 , Three Months Ended March 31 , 2019 2018 2019 2018 Service cost $ 567 $ 693 $ 271 $ 194 Interest cost 646 606 235 141 Expected return on plan assets (945 ) (1,204 ) - - Amortization of prior service cost - - (282 ) (283 ) Recognized actuarial loss (gain) 391 397 7 (103 ) Settlement loss - 387 - - Net periodic benefit cost $ 659 $ 879 $ 231 $ (51 )

Note 8 - Accumulated Other Co_2

Note 8 - Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Three Months Ended 2019 2018 Pension and other postretirement benefits: Recognized actuarial loss (a) $ 398 $ 294 Settlement loss (b) - 387 Total before income tax $ 398 $ 681 Income tax (82 ) (171 ) Net of income tax $ 316 $ 510
Comprehensive Income (Loss) [Table Text Block]	Currency Pension and Accumulated Balance at December 31, 2018 $ (8,243 ) $ (15,180 ) $ (23,423 ) Reclassification adjustments - 398 398 Current period charge (185 ) - (185 ) Income tax benefit (charge) 33 (82 ) (49 ) Balance at March 31, 2019 $ (8,395 ) $ (14,864 ) $ (23,259 ) Currency Pension and Accumulated Balance at December 31, 2017 $ (5,321 ) $ (7,188 ) $ (12,509 ) Reclassification adjustments - 681 681 Current period benefit 189 - 189 Income tax charge - (171 ) (171 ) Balance at March 31, 2018 $ (5,132 ) $ (6,678 ) $ (11,810 )

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	3 Months Ended
Note 9 - Leases (Tables)	Mar. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2019 Components of lease costs: Operating lease costs $ 127 Short-term lease costs 111 Finance lease costs 5 Total lease costs $ 243 Weighted average remaining lease term (years): Operating leases 3.0 Finance lease 4.9 Weighted average discount rate: Operating leases 3.25 % Finance lease 3.25 %
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	<table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="10" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">As of March 31, 2019</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Operating</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Financing</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other assets - right-of-use assets</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,389</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,668</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Lease liabilities included in:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued expenses - current portion of lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">668</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">721</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other long-term liabilities - non-current portion of lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">720</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">946</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Total lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,388</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,667</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="10" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">As of March 31, 2019</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Operating</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Financing</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Leases</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other assets - right-of-use assets</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,389</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,668</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Lease liabilities included in:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued expenses - current portion of lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">668</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">721</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other long-term liabilities - non-current portion of lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">720</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">946</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Total lease liabilities</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,388</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,667</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>
Lessee, Lease Liability, Maturity [Table Text Block]	As of March 31, 2019 As of December 31, 2018 2019 $ 589 $ 702 2020 486 411 2021 322 260 2022 186 124 2023 137 75 Thereafter 19 10 Total lease payments $ 1,739 $ 1,582 Less: Interest (72 ) Present value of lease liabilities $ 1,667

Note 3 - Revenue 1 (Details Tex

Note 3 - Revenue 1 (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Contract with Customer, Liability, Revenue Recognized	$ 2.4	$ 1.5
Non-US [Member]
Percentage Revenue By Location	30.00%	33.00%

Note 3 - Revenue 2 (Details Tex

Note 3 - Revenue 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 $ in Millions	Mar. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 120.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue by Major Categories and Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 96,859	$ 96,604
UNITED STATES
Net sales	67,702	64,434
Non-US [Member]
Net sales	29,157	32,170
Pumps and Pump Systems [Member]
Net sales	82,522	80,484
Repair Parts for Pumps and Pump Systems and Other [Member]
Net sales	$ 14,337	$ 16,120

Note 3 - Revenue - Contract Ass

Note 3 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Contract assets	$ 1,456	$ 1,953
Contract liabilities	$ 6,000	$ 5,232

Note 4 - Inventories (Details T

Note 4 - Inventories (Details Textual) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventory, LIFO Reserve	$ 64.6	$ 63.7
Inventory Valuation Reserves, Ending Balance	$ 5.2	$ 5.3

Note 4 - Inventories - Inventor

Note 4 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Raw materials and in-process	$ 21,242	$ 21,773
Finished parts	52,809	54,209
Finished products	11,308	11,405
Total net inventories	$ 85,359	$ 87,387

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, plant and equipment, gross	$ 290,347	$ 288,477
Less accumulated depreciation	(178,119)	(174,984)
Property, plant and equipment, net	112,228	113,493
Land [Member]
Property, plant and equipment, gross	3,863	3,869
Building [Member]
Property, plant and equipment, gross	107,283	106,940
Machinery and Equipment [Member]
Property, plant and equipment, gross	$ 179,201	$ 177,668

Note 6 - Product Warranties - P

Note 6 - Product Warranties - Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance at beginning of year	$ 1,380	$ 1,098
Provision	479	378
Claims	(355)	(415)
Balance at end of period	$ 1,504	$ 1,061

Note 7 - Pension and Other Po_3

Note 7 - Pension and Other Postretirement Benefits (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0	$ 400

Note 7 - Pension and Other Po_4

Note 7 - Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Plan [Member]
Service cost	$ 567	$ 693
Interest cost	646	606
Expected return on plan assets	(945)	(1,204)
Amortization of prior service cost
Recognized actuarial loss (gain)	391	397
Settlement loss		387
Net periodic benefit cost	659	879
Postemployment Retirement Benefits [Member]
Service cost	271	194
Interest cost	235	141
Expected return on plan assets
Amortization of prior service cost	(282)	(283)
Recognized actuarial loss (gain)	7	(103)
Settlement loss
Net periodic benefit cost	$ 231	$ (51)

Note 8 - Accumulated Other Co_3

Note 8 - Accumulated Other Comprehensive Loss - Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Total before income tax		$ (9,242)	$ (12,656)
Income tax		2,020	3,039
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Recognized actuarial loss	[1]	398	294
Settlement loss	[2]		387
Total before income tax		398	681
Income tax		(82)	(171)
Net of income tax		$ 316	$ 510

[1]	The recognized actuarial loss is included in Other income (expense), net in the Consolidated Statements of Income.
[2]	The settlement loss is included in Other income (expense), net in the Consolidated Statements of Income.

Note 8 - Accumulated Other Co_4

Note 8 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Income (Loss) Reported in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance	$ 293,132	$ 325,495
Balance	296,947	332,548
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(8,243)	(5,321)
Reclassification adjustments
Current period charge (benefit)	(185)	189
Income tax benefit (charge)	33
Balance	(8,395)	(5,132)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(15,180)	(7,188)
Reclassification adjustments	398	681
Current period charge (benefit)
Income tax benefit (charge)	(82)	(171)
Balance	(14,864)	(6,678)
AOCI Attributable to Parent [Member]
Balance	(23,423)	(12,509)
Reclassification adjustments	398	681
Current period charge (benefit)	(185)	189
Income tax benefit (charge)	(49)	(171)
Balance	$ (23,259)	$ (11,810)

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Operating Lease, Liability, Total	$ 1,388	$ 1,600
Lessee, Operating Lease, Renewal Term	5 years
Operating Lease, Right-of-Use Asset	$ 1,389	$ 1,600
Minimum [Member]
Lessee, Operating Lease, Term of Contract	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract	5 years

Note 9 - Leases - Supplement In

Note 9 - Leases - Supplement Information related to Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating lease costs	$ 127
Short-term lease costs	111
Finance lease costs	5
Total lease costs	$ 243
Operating leases (Year)	3 years
Finance lease (Year)	4 years 328 days
Operating leases	3.25%
Finance lease	3.25%

Note 9 - Leases - Lease Assets

Note 9 - Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Other assets - right-of-use assets, operating leases	$ 1,389	$ 1,600
Other assets - right-of-use assets, financing leases	279
Other assets - right-of-use assets, total	1,668
Total lease liabilities, operating leases	1,388	$ 1,600
Total lease liabilities, financing leases	279
Present value of lease liabilities	1,667
Accrued Expenses [Member]
Accrued expenses - current portion of lease liabilities, operating leases	668
Accrued expenses - current portion of lease liabilities, financing leases	53
Accrued expenses - current portion of lease liabilities, total	721
Other Noncurrent Liabilities [Member]
Other long-term liabilities - non-current portion of lease liabilities, operating leases	720
Other long-term liabilities - non-current portion of lease liabilities, financing leases	226
Other long-term liabilities - non-current portion of lease liabilities, total	$ 946

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
2019	$ 589	$ 702
2020	486	411
2021	322	260
2022	186	124
2023	137	75
Thereafter	19	10
Total lease payments	1,739	1,582
Less: Interest	(72)
Present value of lease liabilities	$ 1,667