National Presto Industries (NPK) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 10, 2024
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	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		7,097,632

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 63,546	$ 87,657
Marketable securities	24,372	26,454
Accounts receivable, net	38,099	48,727
Inventories:
Finished goods	26,426	31,815
Work in process	162,345	144,684
Raw materials	15,215	13,921
Inventory, net	203,986	190,420
Notes receivable, current	1,470	1,629
Other current assets	6,821	5,223
Total current assets	338,294	360,110
PROPERTY, PLANT AND EQUIPMENT	107,390	107,010
Less allowance for depreciation	68,867	67,774
Property, plant and equipment, net	38,523	39,236
GOODWILL	19,433	19,433
INTANGIBLE ASSETS, net	4,912	5,290
RIGHT-OF-USE LEASE ASSETS	10,490	10,664
DEFERRED INCOME TAXES	5,803	5,803
Assets	417,455	440,536
CURRENT LIABILITIES:
Accounts payable	32,624	38,232
Federal and state income taxes	4,323	2,539
Lease liabilities	675	678
Accrued liabilities	36,105	30,570
Total current liabilities	73,727	72,019
LEASE LIABILITIES - NON-CURRENT	9,815	9,986
FEDERAL AND STATE INCOME TAXES - NON-CURRENT	2,275	2,275
Total liabilities	85,817	84,280
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	16,496	16,031
Retained earnings	318,766	344,245
Accumulated other comprehensive income	21	22
Stockholders' Equity before Treasury Stock	342,724	367,739
Treasury stock, at cost	11,086	11,483
Total stockholders' equity	331,638	356,256
Liabilities and Equity	$ 417,455	$ 440,536

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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 ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Net sales	$ 76,653	$ 80,409
Cost of sales	62,800	62,389
Gross profit	13,853	18,020
Selling and general expenses	7,197	8,221
Intangibles amortization	379	379
Operating profit	6,277	9,420
Other income	2,075	1,853
Earnings before provision for income taxes	8,352	11,273
Provision for income taxes	1,784	2,395
Net earnings	$ 6,568	$ 8,878
Weighted average shares outstanding:
Basic and diluted (in shares)	7,117	7,097
Net Earnings per share:
Basic and diluted (in dollars per share)	$ 0.92	$ 1.25
Comprehensive income:
Net earnings	$ 6,568	$ 8,878
Other comprehensive income, net of tax:
Unrealized gain on available-for-sale securities		15
Comprehensive income	$ 6,568	$ 8,893
Cash dividends declared and paid per common share (in dollars per share)	$ 4.5	$ 4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Cash flows from operating activities:
Net earnings	$ 6,568,000	$ 8,878,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation	1,095,000	1,328,000
Intangibles amortization	379,000	379,000
Benefit from doubtful accounts	(285,000)	0
Non-cash retirement plan expense	262,000	259,000
Other	79,000	246,000
Changes in operating accounts:
Accounts receivable, net	10,913,000	29,050,000
Inventories	(13,564,000)	(3,081,000)
Other assets and current assets	(1,598,000)	(2,317,000)
Accounts payable and accrued liabilities	(73,000)	378,000
Federal and state income taxes	1,779,000	2,351,000
Net cash provided by operating activities	5,555,000	37,471,000
Cash flows from investing activities:
Marketable securities purchased	(2,926,000)	(5,385,000)
Marketable securities - maturities and sales	5,009,000	1,253,000
Proceeds from note receivable	174,000	6,000
Purchase of property, plant and equipment	(389,000)	(498,000)
Proceeds from insurance claim	0	23,000
Net provided by (used in) investing activities	1,868,000	(4,601,000)
Cash flows from financing activities:
Dividends paid	(32,029,000)	(28,385,000)
Proceeds from sale of treasury stock	513,000	429,000
Other	(18,000)	0
Net cash used in financing activities	(31,534,000)	(27,956,000)
Net increase (decrease) in cash and cash equivalents	(24,111,000)	4,914,000
Cash and cash equivalents at beginning of period	87,657,000	70,711,000
Cash and cash equivalents at end of period	$ 63,546,000	$ 75,625,000

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, Common [Member]	Total
Balance at December 31, 2022 (in shares) at Dec. 31, 2022	7,063
Balance at December 31, 2022 at Dec. 31, 2022	$ 7,441	$ 14,799	$ 338,071	$ (103)	$ (12,156)	$ 348,052
Net earnings			8,878			8,878
Unrealized gain on available-for-sale securities, net of tax				15		15
Dividends paid			(28,385)			(28,385)
Other (in shares)	13
Other		509	0		413	922
Balance (in shares) at Apr. 02, 2023	7,076
Balance at Apr. 02, 2023	$ 7,441	15,308	318,564	(88)	(11,743)	329,482
Balance at December 31, 2022 (in shares) at Dec. 31, 2023	7,082
Balance at December 31, 2022 at Dec. 31, 2023	$ 7,441	16,031	344,245	22	(11,483)	356,256
Net earnings			6,568			6,568
Unrealized gain on available-for-sale securities, net of tax
Dividends paid			(32,029)			(32,029)
Other (in shares)	16
Other		465	(18)		397	843
Balance (in shares) at Mar. 31, 2024	7,098
Balance at Mar. 31, 2024	$ 7,441	$ 16,496	$ 318,766	$ 21	$ (11,086)	$ 331,638

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Regular dividends per share (in dollars per share)	$ 1	$ 1
Extra dividends per share (in dollars per share)	$ 3.5	$ 3

Note A - Basis of Presentation

Note A - Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE A – BASIS OF PRESENTATION The condensed 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, 2023 not 2023 10 not

Note B - Revenues

Note B - Revenues	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE B – 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. In some situations, the customer may one four not no may 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 March 31, 2024 December 31, 2023 three March 31, 2024 three March 31, 2024 April 2, 2023 no March 31, 2024 December 31, 2023 one  The Company’s principal sources of revenue are derived from three

Note C - Earnings Per Share

Note C - Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE C – 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 D - Business Segments

Note D - Business Segments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE D – 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 March 31, 2024 External net sales $ 21,267 $ 55,040 $ 346 $ 76,653 Gross profit (loss) 3,108 11,924 (1,179 ) 13,853 Operating profit (loss) 449 8,315 (2,487 ) 6,277 Total assets 155,577 255,691 6,187 417,455 Depreciation and amortization 240 1,194 40 1,474 Capital expenditures 33 304 52 389 Quarter ended April 2, 2023 External net sales $ 21,052 $ 58,858 $ 499 $ 80,409 Gross profit (loss) 4,706 14,059 (745 ) 18,020 Operating profit (loss) 1,345 10,519 (2,444 ) 9,420 Total assets 182,139 207,151 6,589 395,879 Depreciation and amortization 252 1,342 113 1,707 Capital expenditures 66 166 266 498

Note E - Fair Value of Financia

Note E - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE E - 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 F for fair value information on marketable securities.

Note F - Cash, Cash Equivalents

Note F - Cash, Cash Equivalents And Marketable Securities	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	NOTE F - 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 March 31, 2024 December 31, 2023 2, 820, not  (In Thousands) MARKETABLE SECURITIES Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses March 31, 2024 Certificates of Deposit 19,819 19,846 41 14 Variable Rate Demand Notes 4,526 4,526 - - Total Marketable Securities $ 24,345 $ 24,372 $ 41 $ 14 December 31, 2023 Certificates of Deposit 21,305 21,331 58 31 Variable Rate Demand Notes 5,123 5,123 - - Total Marketable Securities $ 26,428 $ 26,454 $ 58 $ 31  Proceeds from maturities and sales of available-for-sale securities totaled $5,009,000 and $1,253,000 for the three March 31, 2024 April 2, 2023 three March 31, 2024 April 2, 2023  The contractual maturities of the marketable securities held at March 31, 2024 one one five five ten five seven not

Note G - Other Assets

Note G - Other Assets	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Other Assets Disclosure [Text Block]	NOTE G – OTHER ASSETS Other Assets includes prepayments and deposits 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 one March 31, 2024 December 31, 2023 twelve

Note H - Leases

Note H - Leases	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE H – 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 Three Months Ended Three Months Ended Summary of Lease Cost (in thousands) March 31, 2024 April 2, 2023 Operating lease cost $ 305 $ 295 Short-term and variable lease cost 60 55 Total lease cost $ 365 $ 350 Operating cash used for operating leases was $365,000 and $350,000 for the three March 31, 2024 April 2, 2023, March 31, 2024  Maturities of operating lease liabilities are as follows: Years ending December 31: (In thousands) 2024 (remaining nine months) $ 742 2025 879 2026 807 2027 808 2028 814 Thereafter 12,968 Total lease payments $ 17,018 Less: future interest expense 6,528 Lease liabilities $ 10,490   Lease income from operating lease payments was $551,000 and $551,000 for the quarters ended March 31, 2024 April 2, 2023  Years ending December 31: (In thousands) 2024 (remaining nine months) $ 1,707 2025 2,186 2026 2,186 2027 2,186 2028 2,186 Thereafter 13,116 Total lease payments $ 23,567  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 I - Commitments and Contin

Note I - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE I – 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 

Note J - Recently Issued or Ado

Note J - Recently Issued or Adopted Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE J – RECENTLY ISSUED OR ADOPTED 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, 2023. In December 2023, 2023 09 740 2023 09 December 15, 2024. not 2023 09

Note K - Subsequent Event

Note K - Subsequent Event	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE K - SUBSEQUENT EVENT The Company has evaluated subsequent events through the filing of this Form 10 no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	5. Insider Trading Arrangement No 16a 1 10b5 1 10b5 1 408, March 31, 2024
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note D - Business Segments (Tab

Note D - Business Segments (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(in thousands) Housewares / Small Appliances Defense Safety Total Quarter ended March 31, 2024 External net sales $ 21,267 $ 55,040 $ 346 $ 76,653 Gross profit (loss) 3,108 11,924 (1,179 ) 13,853 Operating profit (loss) 449 8,315 (2,487 ) 6,277 Total assets 155,577 255,691 6,187 417,455 Depreciation and amortization 240 1,194 40 1,474 Capital expenditures 33 304 52 389 Quarter ended April 2, 2023 External net sales $ 21,052 $ 58,858 $ 499 $ 80,409 Gross profit (loss) 4,706 14,059 (745 ) 18,020 Operating profit (loss) 1,345 10,519 (2,444 ) 9,420 Total assets 182,139 207,151 6,589 395,879 Depreciation and amortization 252 1,342 113 1,707 Capital expenditures 66 166 266 498

Note F - Cash, Cash Equivalen_2

Note F - Cash, Cash Equivalents And Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 Certificates of Deposit 19,819 19,846 41 14 Variable Rate Demand Notes 4,526 4,526 - - Total Marketable Securities $ 24,345 $ 24,372 $ 41 $ 14 December 31, 2023 Certificates of Deposit 21,305 21,331 58 31 Variable Rate Demand Notes 5,123 5,123 - - Total Marketable Securities $ 26,428 $ 26,454 $ 58 $ 31

Note H - Leases (Tables)

Note H - Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Three Months Ended Summary of Lease Cost (in thousands) March 31, 2024 April 2, 2023 Operating lease cost $ 305 $ 295 Short-term and variable lease cost 60 55 Total lease cost $ 365 $ 350
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31: (In thousands) 2024 (remaining nine months) $ 742 2025 879 2026 807 2027 808 2028 814 Thereafter 12,968 Total lease payments $ 17,018 Less: future interest expense 6,528 Lease liabilities $ 10,490
Operating Lease, Lease Income [Table Text Block]	Years ending December 31: (In thousands) 2024 (remaining nine months) $ 1,707 2025 2,186 2026 2,186 2027 2,186 2028 2,186 Thereafter 13,116 Total lease payments $ 23,567

Note B - Revenues 1 (Details Te

Note B - Revenues 1 (Details Textual)	3 Months Ended
	Mar. 31, 2024 USD ($)	Apr. 02, 2023 USD ($)	Dec. 31, 2023 USD ($)
Number of Operating Segments	3
Defense [Member]
Contract with Customer, Liability, Current	$ 20,012,000		$ 13,666,000
Contract with Customer, Liability, Revenue Recognized	1,473,000
Contract with Customer, Performance Obligation Satisfied in Previous Period	0	$ 0
Revenue, Remaining Performance Obligation, Amount	$ 692,608,000		$ 564,005,000
Minimum [Member]
Revenue Contract Period (Month)	3 months
Maximum [Member]
Revenue Contract Period (Month)	36 months

Note B - Revenues 2 (Details Te

Note B - Revenues 2 (Details Textual) - Defense [Member]	Mar. 31, 2024
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	18 months
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	36 months

Note D - Business Segments - Se

Note D - Business Segments - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
External net sales	$ 76,653	$ 80,409
Gross profit (loss)	13,853	18,020
Operating profit (loss)	6,277	9,420
Total assets	417,455	395,879	$ 440,536
Depreciation and amortization	1,474	1,707
Capital expenditures	389	498
Housewares/Small Appliances [Member] | Operating Segments [Member]
External net sales	21,267	21,052
Gross profit (loss)	3,108	4,706
Operating profit (loss)	449	1,345
Total assets	155,577	182,139
Depreciation and amortization	240	252
Capital expenditures	33	66
Defense [Member] | Operating Segments [Member]
External net sales	55,040	58,858
Gross profit (loss)	11,924	14,059
Operating profit (loss)	8,315	10,519
Total assets	255,691	207,151
Depreciation and amortization	1,194	1,342
Capital expenditures	304	166
Safety [Member] | Operating Segments [Member]
External net sales	346	499
Gross profit (loss)	(1,179)	(745)
Operating profit (loss)	(2,487)	(2,444)
Total assets	6,187	6,589
Depreciation and amortization	40	113
Capital expenditures	$ 52	$ 266

Note F - Cash, Cash Equivalen_3

Note F - Cash, Cash Equivalents And Marketable Securities (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale	$ 5,009,000	$ 1,253,000
Debt Securities, Available-for-Sale, Realized Gain (Loss)	0	0
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax	0	19,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value	15,848,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value	6,052,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after 5 through 10 Years, Fair Value	2,445,000
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	$ 0	$ 0

Note F - Cash, Cash Equivalen_4

Note F - Cash, Cash Equivalents And Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized Cost	$ 24,345	$ 26,428
Fair Value	24,372	26,454
Gross Unrealized Gains	41	58
Gross Unrealized Losses	14	31
Certificates of Deposit [Member]
Amortized Cost	19,819	21,305
Fair Value	19,846	21,331
Gross Unrealized Gains	41	58
Gross Unrealized Losses	14	31
Variable Rate Demand Obligation [Member]
Amortized Cost	4,526	5,123
Fair Value	4,526	5,123
Gross Unrealized Gains	0	0
Gross Unrealized Losses	$ 0	$ 0

Note G - Other Assets (Details

Note G - Other Assets (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Expected Prepayment Utilization Period (Year)	1 year
Housewares/Small Appliances [Member]
Materials, Supplies, and Other	$ 3,084,000	$ 5,018,000

Note H - Leases (Details Textua

Note H - Leases (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Operating Lease, Payments	$ 365,000	$ 350,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	19 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.80%
Operating Lease, Lease Income, Lease Payments	$ 551,000	$ 551,000

Note H - Leases - Lease Cost (D

Note H - Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Operating lease cost	$ 305	$ 295
Short-term and variable lease cost	60	55
Total lease cost	$ 365	$ 350

Note H - Leases - Lease Maturit

Note H - Leases - Lease Maturities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024 (remaining nine months)	$ 742
2025	879
2026	807
2027	808
2028	814
Thereafter	12,968
Total lease payments	17,018
Less: future interest expense	6,528
Lease liabilities	$ 10,490

Note H - Leases - Operating Lea

Note H - Leases - Operating Lease Income (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024 (remaining nine months)	$ 1,707
2025	2,186
2026	2,186
2027	2,186
2028	2,186
Thereafter	13,116
Total lease payments	$ 23,567