National Presto Industries (NPK) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 03, 2022	May 13, 2022
Document Information [Line Items]
Entity Central Index Key	0000080172
Entity Registrant Name	NATIONAL PRESTO INDUSTRIES INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2022
Document Transition Report	false
Entity File Number	1-2451
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0494170
Entity Address, Address Line One	3925 North Hastings Way
Entity Address, City or Town	Eau Claire
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54703-3703
City Area Code	715
Local Phone Number	839-2121
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	NPK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,053,726

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 03, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 82,531	$ 109,805
Marketable securities	35,298	34,190
Accounts receivable, net	35,760	53,377
Inventories:
Finished goods	40,000	40,624
Work in process	100,024	92,437
Inventory, net	11,448	10,800
Raw materials	151,472	143,861
Notes receivable, current	2,256	2,330
Other current assets	10,128	4,490
Total current assets	317,445	348,053
PROPERTY, PLANT AND EQUIPMENT	98,744	98,573
Less allowance for depreciation	62,507	61,850
Property, plant and equipment, net	36,237	36,723
GOODWILL	15,317	15,317
INTANGIBLE ASSETS, net	2,571	2,624
RIGHT-OF-USE LEASE ASSETS	10,027	10,161
DEFERRED INCOME TAXES	4,658	4,642
OTHER ASSETS	2,259	2,878
Assets, Total	388,514	420,398
CURRENT LIABILITIES:
Accounts payable	29,653	32,759
Federal and state income taxes	4,004	3,163
Lease liabilities	550	546
Accrued liabilities	15,439	16,691
Total current liabilities	49,646	53,159
LEASE LIABILITIES - NON-CURRENT	9,477	9,616
Total liabilities	59,123	62,775
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares (	7,441	7,441
Paid-in capital	14,156	13,743
Retained earnings	320,286	349,198
Accumulated other comprehensive income (loss)	(42)	20
Stockholders' Equity before Treasury Stock	341,841	370,402
Treasury stock, at cost	12,450	12,779
Total stockholders' equity	329,391	357,623
Liabilities and Equity, Total	$ 388,514	$ 420,398

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Apr. 03, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	12,000,000	12,000,000
Common stock, issued (in shares)	7,440,518	7,440,518

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Net sales	$ 60,754	$ 81,027
Cost of sales	51,043	62,666
Gross profit	9,711	18,361
Selling and general expenses	6,570	7,364
Intangibles amortization	54	54
Operating profit	3,087	10,943
Other income	669	700
Earnings before provision for income taxes	3,756	11,643
Provision for income taxes	841	2,650
Net earnings	$ 2,915	$ 8,993
Weighted average shares outstanding:
Basic and diluted (in shares)	7,073	7,053
us-gaap_EarningsPerShareBasicAbstract
Basic and diluted (in dollars per share)	$ 0.41	$ 1.28
Comprehensive income:
Net earnings	$ 2,915	$ 8,993
Other comprehensive income, net of tax:
Unrealized (loss) gain on available-for-sale securities	(62)	(49)
Comprehensive income	$ 2,853	$ 8,944
Cash dividends declared and paid per common share (in dollars per share)	$ 4.50	$ 6.25

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Cash flows from operating activities:
Net earnings	$ 2,915,000	$ 8,993,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation	658,000	677,000
Intangibles amortization	54,000	54,000
Non-cash retirement plan expense	212,000	206,000
Proceeds from insurance claim	90,000
Other	128,000	211,000
Changes in operating accounts:
Accounts receivable, net	17,606,000	5,550,000
Inventories	(7,689,000)	(5,622,000)
Other assets and current assets	(5,019,000)	530,000
Accounts payable and accrued liabilities	(4,358,000)	(6,228,000)
Federal and state income taxes	841,000	2,428,000
Net cash provided by operating activities	5,438,000	6,799,000
Cash flows from investing activities:
Marketable securities purchased	(3,640,000)	0
Marketable securities - maturities and sales	2,454,000	16,951,000
Proceeds from note receivable	78,000	0
Purchase of property, plant and equipment	(172,000)	(1,124,000)
Net cash (used in) provided by investing activities	(1,280,000)	15,827,000
Cash flows from financing activities:
Dividends paid	(31,827,000)	(44,083,000)
Proceeds from sale of treasury stock	436,000	572,000
Other	(41,000)	(30,000)
Net cash used in financing activities	(31,432,000)	(43,541,000)
Net (decrease) increase in cash and cash equivalents	(27,274,000)	(20,915,000)
Cash and cash equivalents at beginning of period	109,805,000	86,036,000
Cash and cash equivalents at end of period	$ 82,531,000	$ 65,121,000

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	7,025
Balance at Dec. 31, 2020	$ 7,441	$ 12,438	$ 367,627	$ 154	$ (13,312)	$ 374,348
Net earnings			8,993			8,993
Unrealized gain (loss) on available-for-sale securities, net of tax				(49)		(49)
Dividends paid			(44,083)			(44,083)
Other (in shares)	11
Other		568			341	910
Unrealized (loss) on available-for-sale securities, net of tax				(49)		(49)
Balance (in shares) at Apr. 04, 2021	7,036
Balance at Apr. 04, 2021	$ 7,441	13,006	332,538	105	(12,971)	340,119
Balance (in shares) at Dec. 31, 2021	7,042
Balance at Dec. 31, 2021	$ 7,441	13,743	349,198	20	(12,779)	357,623
Net earnings			2,915			2,915
Unrealized gain (loss) on available-for-sale securities, net of tax				(62)		(62)
Dividends paid			(31,827)			(31,827)
Other (in shares)	12
Other		413	0		329	742
Unrealized (loss) on available-for-sale securities, net of tax				(62)		(62)
Balance (in shares) at Apr. 03, 2022	7,054
Balance at Apr. 03, 2022	$ 7,441	$ 14,156	$ 320,286	$ (42)	$ (12,450)	$ 329,391

Consolidated Statements Of St_2

Consolidated Statements Of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Regular dividends per share (in dollars per share)	$ 1	$ 1
Extra dividends per share (in dollars per share)	$ 5	$ 5

Note A - Basis of Presentation

Note A - Basis of Presentation	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE A – BASIS OF PRESENTATION The consolidated interim financial statements included herein are unaudited and have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management of the Company, the consolidated interim financial statements reflect all of the adjustments which were of a normal recurring nature necessary for a fair presentation of the results of the interim periods. The condensed consolidated balance sheet as of December 31, 2021 not 2021 10 not

Note B - General

Note B - General	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE B – GENERAL The after-effects of the government responses to the COVID- 19 19 19 2022

Note C - Revenues

Note C - Revenues	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE C – REVENUES The Company’s revenues are derived from short-term contracts and programs that are typically completed within 3 to 36 months and are recognized in accordance with Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 606, Revenue from Contracts with Customers one  The Company's contracts in the Defense segment are primarily with the U.S. Department of Defense (DOD) and DOD prime contractors. As a consequence, this segment's business essentially depends on the product needs and governmental funding of the DOD. Substantially all of the work performed by the Defense segment directly or indirectly for the DOD is performed on a fixed-price basis. Under fixed-price contracts, the price paid to the contractor is usually awarded based on competition at the outset of the contract and therefore, with the exception of limited escalation provisions on specific materials, is generally not  For the Housewares/Small Appliance segment, revenue is generally recognized as the completed, ordered product is shipped to the customer from the Company’s warehouses. For the relatively few situations in which revenue should be recognized when product is received by the customer, the Company adjusts revenue accordingly. For the Defense segment, revenue is primarily recognized when the customer has legal title and formally documents that it has accepted the products. There are also certain termination clauses in Defense segment contracts that may may one four not no The timing of revenue recognition, billings, and cash collections results in billed accounts receivable, and customer advances and deposits (contract liabilities) on the Company’s Condensed Consolidated Balance Sheets. For the Defense segment, the Company occasionally receives advances or deposits from certain customers before revenue is recognized, resulting in contract liabilities. These advances or deposits do not April 3, 2022 December 31, 2021 three April 3, 2022 three April 3, 2022 April 4, 2021 no no April 3, 2022 December 31, 2021 one  The Company’s principal sources of revenue are derived from three

Note D - Earnings Per Share

Note D - Earnings Per Share	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE D – EARNINGS PER SHARE Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share also includes the dilutive effect of additional potential common shares issuable. Unvested stock awards, which contain non-forfeitable rights to dividends whether paid or unpaid (“participating securities”), are included in the number of shares outstanding for both basic and diluted earnings per share calculations. 

Note E - Business Segments

Note E - Business Segments	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE E – BUSINESS SEGMENTS In the following summary, operating profit represents earnings before other income and income taxes. The Company's segments operate discretely from each other with no (in thousands) Housewares / Small Appliances Defense Safety Total Quarter ended April 3, 2022 External net sales $ 20,306 $ 40,355 $ 93 $ 60,754 Gross profit (loss) 1,195 8,867 (351 ) 9,711 Operating profit (loss) (1,539 ) 6,038 (1,412 ) 3,087 Total assets 208,455 170,154 9,905 388,514 Depreciation and amortization 262 389 61 712 Capital expenditures 77 92 3 172 Quarter ended April 4, 2021 External net sales $ 26,505 $ 54,455 $ 67 $ 81,027 Gross profit (loss) 4,791 13,904 (334 ) 18,361 Operating profit (loss) 961 11,245 (1,263 ) 10,943 Total assets 203,865 168,502 22,864 395,231 Depreciation and amortization 292 381 58 731 Capital expenditures 130 899 95 1,124

Note F - Fair Value of Financia

Note F - Fair Value of Financial Instruments	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE F - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company utilizes the methods of fair value as described in FASB ASC 820, Fair Value Measurements and Disclosures, 820 three 1, 2, 3, no  The carrying amounts for cash and cash equivalents, accounts receivable, notes receivable, accounts payable, and accrued liabilities approximate fair value due to the immediate or short-term maturity of these financial instruments. See Note G for fair value information on marketable securities.

Note G - Cash, Cash Equivalents

Note G - Cash, Cash Equivalents And Marketable Securities	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	NOTE G - CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES The Company considers all highly liquid marketable securities with an original maturity of three may 1, 820  The Company has classified all marketable securities as available-for-sale which requires the securities to be reported at estimated fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity. Highly liquid, tax-exempt variable rate demand notes with put options exercisable in three  At April 3, 2022 December 31, 2021 2, 820, not  (In Thousands) MARKETABLE SECURITIES Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses April 3, 2022 Fixed Rate Municipal Bonds $ 10,135 $ 10,082 $ 5 $ (58 ) Variable Rate Demand Notes 25,216 25,216 - - Total Marketable Securities $ 35,351 $ 35,298 $ 5 $ (58 ) December 31, 2021 Fixed Rate Municipal Bonds $ 8,737 $ 8,763 $ 31 $ 5 Variable Rate Demand Notes 25,427 25,427 - - Total Marketable Securities $ 34,164 $ 34,190 $ 31 $ 5  Proceeds from maturities and sales of available-for-sale securities totaled $2,454,000 and $16,951,000 for the three April 3, 2022 April 4, 2021 no three April 3, 2022 April 4, 2021 No  The contractual maturities of the marketable securities held at April 3, 2022 one one five five ten ten five seven not

Note H - Other Assets

Note H - Other Assets	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Other Assets Disclosure [Text Block]	NOTE H – OTHER ASSETS Other Assets includes prepayments that are made from time to time by the Company for certain materials used in the manufacturing process in the Housewares/Small Appliances segment. The Company expects to utilize the prepayments and related materials over an estimated period of two April 3, 2022 December 31, 2021 April 3, 2022 December 31, 2021 twelve

Note I - Leases

Note I - Leases	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE I – LEASES The Company accounts for leases under ASC Topic 842, one  The Company’s leases as lessee in its Defense segment provide for variable lease payments that are based on changes in the Consumer Price Index. As lessor, the Company’s primary lease also provides for variable lease payments that are based on changes in the Consumer Price Index, as well as on increases in costs of insurance, real estate taxes, and utilities related to the leased space. Generally, all of the Company’s lease contracts include options for extensions and early terminations. The majority of lease terms of the Company’s lease contracts recognized on the balance sheet reflect extension options, while none  The Company has determined that the rates implicit in its leases are not 12 Topic 842 3 Months Ending 3 Months Ending Summary of Lease Cost (in thousands) April 3, 2022 April 4, 2021 Operating lease cost $ 250 $ 185 Short-term and variable lease cost 35 110 Total lease cost $ 285 $ 295 Operating cash used for operating leases was $285,000 and $295,000 for the three April 3, 2022 April 4, 2021, April 3, 2022  Maturities of operating lease liabilities are as follows: Years ending December 31: (In thousands) 2022 (remaining nine months) $ 607 2023 682 2024 631 2025 625 2026 605 Thereafter 13,922 Total lease payments $ 17,072 Less: future interest expense 7,045 Lease liabilities $ 10,027   Lease income from operating lease payments was $519,000 and $464,000 for the quarters ended April 3, 2022 April 4, 2021  Years ending December 31: (In thousands) 2022 (remaining nine months) $ 1,543 2023 2,055 2024 2,055 2025 2,055 2026 2,055 Thereafter 16,440 Total lease payments $ 26,203  The Company considers risk associated with the residual value of its leased real property to be low, given the nature of the long-term lease agreement, the Company’s ability to control the maintenance of the property, and the creditworthiness of the lessee. The residual value risk is further mitigated by the long-lived nature of the property, and the propensity of such assets to hold their value or, in some cases, appreciate in value.

Note J - Commitments and Contin

Note J - Commitments and Contingencies	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE J – COMMITMENTS AND CONTINGENCIES The Company is involved in largely routine litigation incidental to its business. Management believes the ultimate outcome of the litigation will not In the state of Mississippi, inventory that is shipped out of state that is held in a licensed Free Port Warehouse is exempt from personal property taxes. One of the Company's subsidiaries operates in Hinds County, Mississippi. That subsidiary has submitted its Hinds County Free Port Warehouse tax filing for approximately 40 June 2020, no seven not 450 Contingencies April 3, 2022. 

Note K - Recently Issued Accoun

Note K - Recently Issued Accounting Pronouncements	3 Months Ended
	Apr. 03, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE K – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS The Company assesses the impacts of adopting recently issued accounting standards by the Financial Accounting Standards Board on the Company's financial statements, and updates previous assessments, as necessary, from the Company's Annual Report on Form 10 December 31, 2021. no April 3, 2022

Note E - Business Segments (Tab

Note E - Business Segments (Tables)	3 Months Ended
	Apr. 03, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(in thousands) Housewares / Small Appliances Defense Safety Total Quarter ended April 3, 2022 External net sales $ 20,306 $ 40,355 $ 93 $ 60,754 Gross profit (loss) 1,195 8,867 (351 ) 9,711 Operating profit (loss) (1,539 ) 6,038 (1,412 ) 3,087 Total assets 208,455 170,154 9,905 388,514 Depreciation and amortization 262 389 61 712 Capital expenditures 77 92 3 172 Quarter ended April 4, 2021 External net sales $ 26,505 $ 54,455 $ 67 $ 81,027 Gross profit (loss) 4,791 13,904 (334 ) 18,361 Operating profit (loss) 961 11,245 (1,263 ) 10,943 Total assets 203,865 168,502 22,864 395,231 Depreciation and amortization 292 381 58 731 Capital expenditures 130 899 95 1,124

Note G - Cash, Cash Equivalen_2

Note G - Cash, Cash Equivalents And Marketable Securities (Tables)	3 Months Ended
	Apr. 03, 2022
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	(In Thousands) MARKETABLE SECURITIES Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses April 3, 2022 Fixed Rate Municipal Bonds $ 10,135 $ 10,082 $ 5 $ (58 ) Variable Rate Demand Notes 25,216 25,216 - - Total Marketable Securities $ 35,351 $ 35,298 $ 5 $ (58 ) December 31, 2021 Fixed Rate Municipal Bonds $ 8,737 $ 8,763 $ 31 $ 5 Variable Rate Demand Notes 25,427 25,427 - - Total Marketable Securities $ 34,164 $ 34,190 $ 31 $ 5

Note I - Leases (Tables)

Note I - Leases (Tables)	3 Months Ended
	Apr. 03, 2022
Notes Tables
Lease, Cost [Table Text Block]	3 Months Ending 3 Months Ending Summary of Lease Cost (in thousands) April 3, 2022 April 4, 2021 Operating lease cost $ 250 $ 185 Short-term and variable lease cost 35 110 Total lease cost $ 285 $ 295
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Years ending December 31: (In thousands) 2022 (remaining nine months) $ 607 2023 682 2024 631 2025 625 2026 605 Thereafter 13,922 Total lease payments $ 17,072 Less: future interest expense 7,045 Lease liabilities $ 10,027
Operating Lease, Lease Income [Table Text Block]	Years ending December 31: (In thousands) 2022 (remaining nine months) $ 1,543 2023 2,055 2024 2,055 2025 2,055 2026 2,055 Thereafter 16,440 Total lease payments $ 26,203

Note C - Revenues 1 (Details Te

Note C - Revenues 1 (Details Textual)	3 Months Ended		9 Months Ended
	Apr. 03, 2022USD ($)	Sep. 27, 2020USD ($)	Sep. 27, 2020USD ($)	Dec. 31, 2021USD ($)
Number of Operating Segments	3
Defense [Member]
Contract with Customer, Liability, Current	$ 2,366,000			$ 2,211,000
Contract with Customer, Liability, Revenue Recognized	74,000	$ 0	$ 0
Revenue, Remaining Performance Obligation, Amount	$ 447,364,000			$ 460,800,000
Minimum [Member]
Revenue Contract Period (Month)	3 months
Maximum [Member]
Revenue Contract Period (Month)	36 years

Note C - Revenues 2 (Details Te

Note C - Revenues 2 (Details Textual) - Defense [Member] - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-04	Apr. 03, 2022
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	18 months
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	36 years

Note E - Business Segments - Se

Note E - Business Segments - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Dec. 31, 2021
External net sales	$ 60,754	$ 81,027
Gross profit (loss)	9,711	18,361
Operating profit (loss)	3,087	10,943
Total assets	388,514	395,231	$ 420,398
Depreciation and amortization	712	731
Capital expenditures	172	1,124
Housewares/Small Appliances [Member] | Operating Segments [Member]
External net sales	20,306	26,505
Gross profit (loss)	1,195	4,791
Operating profit (loss)	(1,539)	961
Total assets	208,455	203,865
Depreciation and amortization	262	292
Capital expenditures	77	130
Defense [Member] | Operating Segments [Member]
External net sales	40,355	54,455
Gross profit (loss)	8,867	13,904
Operating profit (loss)	6,038	11,245
Total assets	170,154	168,502
Depreciation and amortization	389	381
Capital expenditures	92	899
Safety [Member] | Operating Segments [Member]
External net sales	93	67
Gross profit (loss)	(351)	(334)
Operating profit (loss)	(1,412)	(1,263)
Total assets	9,905	22,864
Depreciation and amortization	61	58
Capital expenditures	$ 3	$ 95

Note G - Cash, Cash Equivalen_3

Note G - Cash, Cash Equivalents And Marketable Securities (Details Textual) - USD ($)	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale, Total	$ 2,454,000	$ 16,951,000
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	0
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax	(78,000)	$ (62,000)
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value	5,121,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value	4,961,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after 5 through 10 Years, Fair Value	3,965,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	21,251,000
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax, Total	$ 0

Note G - Cash, Cash Equivalen_4

Note G - Cash, Cash Equivalents And Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Dec. 31, 2021
Amortized Cost	$ 35,351	$ 34,164
Fair Value	35,298	34,190
Gross Unrealized Gains	5	31
Gross Unrealized Losses	(58)	(5)
Gross Unrealized Losses	58	5
Fixed Rate Municipal Bonds [Member]
Amortized Cost	10,135	8,737
Fair Value	10,082	8,763
Gross Unrealized Gains	5	31
Gross Unrealized Losses	(58)	(5)
Gross Unrealized Losses	58	5
Variable Rate Demand Obligation [Member]
Amortized Cost	25,216	25,427
Fair Value	25,216	25,427
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Gross Unrealized Losses	$ 0	$ 0

Note H - Other Assets (Details

Note H - Other Assets (Details Textual) - USD ($)	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Expected Prepayment Utilization Period (Year)	2 years
Other Current Assets [Member]
Materials, Supplies, and Other	$ 7,241,000	$ 4,746,000
Housewares/Small Appliances [Member]
Materials, Supplies, and Other	$ 9,500,000	$ 7,624,000

Note I - Leases (Details Textua

Note I - Leases (Details Textual) - USD ($)	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Operating Lease, Payments	$ 285,000	$ 295,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	22 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.60%
Operating Lease, Lease Income, Lease Payments	$ 519,000	$ 464,000

Note I - Leases - Lease Cost (D

Note I - Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Operating lease cost	$ 250	$ 185
Short-term and variable lease cost	35	110
Total lease cost	$ 285	$ 295

Note I - Leases - Lease Maturit

Note I - Leases - Lease Maturities (Details) $ in Thousands	Apr. 03, 2022USD ($)
2022 (remaining nine months)	$ 607
2023	682
2024	631
2025	625
2026	605
Thereafter	13,922
Total lease payments	17,072
Less: future interest expense	7,045
Lease liabilities	$ 10,027

Note I - Leases - Operating Lea

Note I - Leases - Operating Lease Income (Details) $ in Thousands	Apr. 03, 2022USD ($)
2022 (remaining nine months)	$ 1,543
2023	2,055
2024	2,055
2025	2,055
2026	2,055
Thereafter	16,440
Total lease payments	$ 26,203

Note J - Commitments and Cont_2

Note J - Commitments and Contingencies (Details Textual) - Property Tax Assessment [Member] - USD ($)	1 Months Ended
	Jun. 30, 2020	Apr. 03, 2022
Loss Contingency, Damages Sought, Value	$ 2,506,000
Loss Contingency Accrual, Ending Balance		$ 0