Document And Entity Information
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Document And Entity Information
 9 Months Ended
Sep. 29, 2013
Nov. 01, 2013
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 29, 2013  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2013  
Entity Registrant Name NATIONAL PRESTO INDUSTRIES INC  
Entity Central Index Key 0000080172  
Current Fiscal Year End Date --12-31  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   6,900,420

Condensed Consolidated Balance Sheets
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Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 29, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 46,388 $ 37,437
Marketable securities 44,321 55,586
Accounts receivable, net 61,376 76,443
Inventories:    
Finished goods 56,779 33,851
Work in process 46,299 40,340
Raw materials 8,165 9,173
Total inventory 111,243 83,364
Deferred tax assets 8,906 8,906
Other current assets 12,561 9,018
Total current assets 284,795 270,754
PROPERTY, PLANT AND EQUIPMENT 141,282 123,418
Less allowance for depreciation 67,607 61,553
PROPERTY, PLANT AND EQUIPMENT, NET 73,675 61,865
GOODWILL & OTHER INTANGIBLES 17,222 17,722
NOTE RECEIVABLE 3,664 3,571
Total assets 379,356 353,912
CURRENT LIABILITIES:    
Accounts payable 40,720 39,077
Federal and state income taxes 1,053 1,642
Accrued liabilities 15,081 15,254
Total current liabilities 56,854 55,973
DEFERRED INCOME TAXES 7,353 7,368
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY    
Common stock, $1 par value: Authorized: 12,000,000 Issued: 7,440,518 7,441 7,441
Paid-in capital 4,780 4,472
Retained earnings 319,812 295,643
Accumulated other comprehensive income 26 53
Stockholders' Equity before Treasury Stock 332,059 307,609
Treasury stock, at cost 16,910 17,038
Total stockholders' equity 315,149 290,571
Total liabilities and stockholders' equity $ 379,356 $ 353,912

Condensed Consolidated Balance Sheets (Parenthetical)
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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
Sep. 29, 2013
Dec. 31, 2012
Consolidated Balance Sheets [Abstract]    
Common stock, par value $ 1 $ 1
Common stock, shares authorized 12,000,000 12,000,000
Common stock, shares issued 7,440,518 7,440,518

Consolidated Statements Of Comprehensive Income
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Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Sep. 29, 2013
Sep. 30, 2012
Consolidated Statements Of Comprehensive Income [Abstract]        
Net sales $ 100,612 $ 116,813 $ 285,198 $ 330,700
Cost of sales 80,962 93,906 230,928 267,847
Gross profit 19,650 22,907 54,270 62,853
Selling and general expenses 5,794 8,058 17,237 20,188
Operating profit 13,856 14,849 37,033 42,665
Other income 153 231 508 729
Earnings before provision for income taxes 14,009 15,080 37,541 43,394
Income tax provision 4,994 5,679 13,371 15,946
Net earnings 9,015 9,401 24,170 27,448
Weighted average common shares outstanding:        
Basic and diluted 6,907 6,891 6,905 6,888
Net earnings per share:        
Basic and diluted $ 1.31 $ 1.36 $ 3.50 $ 3.98
Other comprehensive loss, net of tax:        
Unrealized loss on available-for-sale securities 7 1 27 15
Comprehensive income $ 9,008 $ 9,400 $ 24,143 $ 27,433
Cash dividends declared and paid per common share $ 0.00 $ 0.00 $ 0.00 $ 6.00

Consolidated Statements Of Cash Flows
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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net earnings $ 24,170 $ 27,448
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for depreciation 6,241 7,568
Intangibles amortization 500  
Provision for doubtful accounts 319 3,340
Other 260 766
Changes in:    
Accounts receivable 14,781 707
Inventories (27,879) (6,969)
Other current assets (3,543) 5,743
Accounts payable and accrued liabilities 1,507 (2,252)
Federal and state income taxes (580) (1,784)
Net cash provided by operating activities 15,776 34,567
Cash flows from investing activities:    
Marketable securities purchased (6,151) (18,285)
Marketable securities - maturities and sales 17,373 24,466
Acquisition of property, plant and equipment (18,055) (9,931)
Notes issued   (3,500)
Sale of property, plant and equipment 8 7
Acquisition of businesses, net of cash acquired   (246)
Net cash provided by (used in) investing activities (6,825) (7,489)
Cash flows from financing activities:    
Dividends paid   (41,292)
Other   357
Net cash used in financing activities   (40,935)
Net increase (decrease) in cash and cash equivalents 8,951 (13,857)
Cash and cash equivalents at beginning of period 37,437 73,995
Cash and cash equivalents at end of period $ 46,388 $ 60,138

Basis Of Presentation
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Basis Of Presentation
 9 Months Ended
Sep. 29, 2013
Basis Of Presentation [Abstract]  
Basis Of Presentation

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 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, 2012 is summarized from consolidated financial statements, but does not include all the disclosures contained therein and should be read in conjunction with the 2012 Annual Report on Form 10-K.  Interim results for the period are not indicative of those for the year.


Reclassifications
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Reclassifications
 9 Months Ended
Sep. 29, 2013
Reclassifications [Abstract]  
Reclassifications

NOTE B – RECLASSIFICATIONS

Certain reclassifications have been made to the prior periods’ financial statements to conform to the current period’s financial statement presentation.  These reclassifications did not affect net earnings or stockholders’ equity as previously reported.


Earnings Per Share
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Earnings Per Share
 9 Months Ended
Sep. 29, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

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.    


Business Segments
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Business Segments
 9 Months Ended
Sep. 29, 2013
Business Segments [Abstract]  
Business Segments

NOTE D – BUSINESS SEGMENTS 

In the following summary, operating profit represents earnings before other income, principally interest income and income taxes.  The Company's segments operate discretely from each other with no shared manufacturing facilities.  Costs associated with corporate activities (such as cash and marketable securities management) and the assets associated with such activities are included within the Housewares/Small Appliances segment for all periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

Housewares / Small Appliances

 

Defense Products

 

Absorbent Products

 

Total

Quarter ended September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
29,394 

 

$
52,453 

 

$
18,765 

 

$
100,612 

Gross profit

 

 
6,731 

 

 
12,922 

 

 
(3)

 

 
19,650 

Operating profit

 

 
4,104 

 

 
10,380 

 

 
(628)

 

 
13,856 

Total assets

 

 
202,866 

 

 
115,437 

 

 
61,053 

 

 
379,356 

Depreciation and amortization

 

 
260 

 

 
520 

 

 
1,447 

 

 
2,227 

Capital expenditures

 

 
164 

 

 
2,519 

 

 
1,947 

 

 
4,630 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
36,545 

 

$
58,856 

 

$
21,412 

 

$
116,813 

Gross profit

 

 
7,426 

 

 
14,456 

 

 
1,025 

 

 
22,907 

Operating profit

 

 
4,226 

 

 
12,553 

 

 
(1,930)

 

 
14,849 

Total assets

 

 
222,946 

 

 
106,556 

 

 
65,351 

 

 
394,853 

Depreciation

 

 
277 

 

 
791 

 

 
1,512 

 

 
2,580 

Capital expenditures

 

 
286 

 

 
1,964 

 

 
838 

 

 
3,088 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

Housewares/

 

 

 

 

 

 

 

 

 

 

 

 

Small

 

 

Defense

 

 

Absorbent

 

 

 

 

 

 

Appliances

 

 

Products

 

 

Products

 

 

Total

Nine Months ended September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
78,772 

 

$
149,920 

 

$
56,506 

 

$
285,198 

Gross profit

 

 
15,762 

 

 
36,456 

 

 
2,052 

 

 
54,270 

Operating profit

 

 
7,474 

 

 
29,153 

 

 
406 

 

 
37,033 

Total assets

 

 
202,866 

 

 
115,437 

 

 
61,053 

 

 
379,356 

Depreciation and amortization

 

 
817 

 

 
1,741 

 

 
4,183 

 

 
6,741 

Capital expenditures

 

 
442 

 

 
8,817 

 

 
8,796 

 

 
18,055 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
84,608 

 

$
182,145 

 

$
63,947 

 

$
330,700 

Gross profit

 

 
16,258 

 

 
44,180 

 

 
2,415 

 

 
62,853 

Operating profit

 

 
7,540 

 

 
38,059 

 

 
(2,934)

 

 
42,665 

Total assets

 

 
222,946 

 

 
106,556 

 

 
65,351 

 

 
394,853 

Depreciation

 

 
801 

 

 
2,388 

 

 
4,379 

 

 
7,568 

Capital expenditures

 

 
951 

 

 
2,165 

 

 
6,815 

 

 
9,931 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Business Segments (Tables)
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Business Segments (Tables)
 9 Months Ended
Sep. 29, 2013
Business Segments [Abstract]  
Summary Of Business Segments Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

Housewares / Small Appliances

 

Defense Products

 

Absorbent Products

 

Total

Quarter ended September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
29,394 

 

$
52,453 

 

$
18,765 

 

$
100,612 

Gross profit

 

 
6,731 

 

 
12,922 

 

 
(3)

 

 
19,650 

Operating profit

 

 
4,104 

 

 
10,380 

 

 
(628)

 

 
13,856 

Total assets

 

 
202,866 

 

 
115,437 

 

 
61,053 

 

 
379,356 

Depreciation and amortization

 

 
260 

 

 
520 

 

 
1,447 

 

 
2,227 

Capital expenditures

 

 
164 

 

 
2,519 

 

 
1,947 

 

 
4,630 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
36,545 

 

$
58,856 

 

$
21,412 

 

$
116,813 

Gross profit

 

 
7,426 

 

 
14,456 

 

 
1,025 

 

 
22,907 

Operating profit

 

 
4,226 

 

 
12,553 

 

 
(1,930)

 

 
14,849 

Total assets

 

 
222,946 

 

 
106,556 

 

 
65,351 

 

 
394,853 

Depreciation

 

 
277 

 

 
791 

 

 
1,512 

 

 
2,580 

Capital expenditures

 

 
286 

 

 
1,964 

 

 
838 

 

 
3,088 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

Housewares/

 

 

 

 

 

 

 

 

 

 

 

 

Small

 

 

Defense

 

 

Absorbent

 

 

 

 

 

 

Appliances

 

 

Products

 

 

Products

 

 

Total

Nine Months ended September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
78,772 

 

$
149,920 

 

$
56,506 

 

$
285,198 

Gross profit

 

 
15,762 

 

 
36,456 

 

 
2,052 

 

 
54,270 

Operating profit

 

 
7,474 

 

 
29,153 

 

 
406 

 

 
37,033 

Total assets

 

 
202,866 

 

 
115,437 

 

 
61,053 

 

 
379,356 

Depreciation and amortization

 

 
817 

 

 
1,741 

 

 
4,183 

 

 
6,741 

Capital expenditures

 

 
442 

 

 
8,817 

 

 
8,796 

 

 
18,055 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
84,608 

 

$
182,145 

 

$
63,947 

 

$
330,700 

Gross profit

 

 
16,258 

 

 
44,180 

 

 
2,415 

 

 
62,853 

Operating profit

 

 
7,540 

 

 
38,059 

 

 
(2,934)

 

 
42,665 

Total assets

 

 
222,946 

 

 
106,556 

 

 
65,351 

 

 
394,853 

Depreciation

 

 
801 

 

 
2,388 

 

 
4,379 

 

 
7,568 

Capital expenditures

 

 
951 

 

 
2,165 

 

 
6,815 

 

 
9,931 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Business Segments (Schedule Of Segment Information) (Details)
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Business Segments (Schedule Of Segment Information) (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Sep. 29, 2013
Sep. 30, 2012
Dec. 31, 2012
Segment Reporting Information [Line Items]          
External net sales $ 100,612 $ 116,813 $ 285,198 $ 330,700  
Gross profit 19,650 22,907 54,270 62,853  
Operating profit 13,856 14,849 37,033 42,665  
Total assets 379,356 394,853 379,356 394,853 353,912
Depreciation and amortization 2,227 2,580 6,741 7,568  
Capital expenditures 4,630 3,088 18,055 9,931  
Housewares/ Small Appliances [Member]
          
Segment Reporting Information [Line Items]          
External net sales 29,394 36,545 78,772 84,608  
Gross profit 6,731 7,426 15,762 16,258  
Operating profit 4,104 4,226 7,474 7,540  
Total assets 202,866 222,946 202,866 222,946  
Depreciation and amortization 260 277 817 801  
Capital expenditures 164 286 442 951  
Defense Products [Member]
          
Segment Reporting Information [Line Items]          
External net sales 52,453 58,856 149,920 182,145  
Gross profit 12,922 14,456 36,456 44,180  
Operating profit 10,380 12,553 29,153 38,059  
Total assets 115,437 106,556 115,437 106,556  
Depreciation and amortization 520 791 1,741 2,388  
Capital expenditures 2,519 1,964 8,817 2,165  
Absorbent Products [Member]
          
Segment Reporting Information [Line Items]          
External net sales 18,765 21,412 56,506 63,947  
Gross profit (3) 1,025 2,052 2,415  
Operating profit (628) (1,930) 406 (2,934)  
Total assets 61,053 65,351 61,053 65,351  
Depreciation and amortization 1,447 1,512 4,183 4,379  
Capital expenditures $ 1,947 $ 838 $ 8,796 $ 6,815  

Fair Value Of Financial Instruments
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Fair Value Of Financial Instruments
 9 Months Ended
Sep. 29, 2013
Fair Value Of Financial Instruments [Abstract]  
Fair Value Of Financial Instruments

NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company utilizes the methods of fair value as described in Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) 820, Fair Value Measurements and Disclosures, to value its financial assets and liabilities. ASC 820 utilizes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The carrying amount for cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximates fair value due to the immediate or short-term maturity of these financial instruments.    


Cash, Cash Equivalents And Marketable Securities
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Cash, Cash Equivalents And Marketable Securities
 9 Months Ended
Sep. 29, 2013
Cash, Cash Equivalents And Marketable Securities [Abstract]  
Cash, Cash Equivalents And Marketable Securities

NOTE F - CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES 

The Company considers all highly liquid marketable securities with an original maturity of three months or less to be cash equivalents.  Cash equivalents include money market funds.  The Company deposits its cash in high quality financial institutions.  The balances, at times, may exceed federally insured limits.  Money market funds are reported at fair value determined using quoted prices in active markets for identical securities (Level 1, as defined by FASB ASC 820).

 

The Company has classified all marketable securities as available-for-sale which requires the securities to be reported at 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 months or less are classified as marketable securities.

 

At September 29, 2013 and December 31, 2012, cost for marketable securities was determined using the specific identification method.  A summary of the amortized costs and fair values of the Company’s marketable securities at the end of the periods presented is shown in the following table.  All of the Company’s marketable securities are classified as Level 2, as defined by FASB ASC 820, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.  There were no transfers into or out of Level 2 during the three months ended September 29, 2013.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

MARKETABLE SECURITIES

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
23,591 

 

$
23,630 

 

$
42 

 

$
3 

Variable Rate Demand Notes

 

 
20,691 

 

 
20,691 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
44,282 

 

$
44,321 

 

$
42 

 

$
3 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,412 

 

$
24,494 

 

$
94 

 

$
12 

Variable Rate Demand Notes

 

 
31,092 

 

 
31,092 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
55,504 

 

$
55,586 

 

$
94 

 

$
12 

 

 

Proceeds from maturities and sales of available-for-sale securities totaled $723,000 and $14,211,000 for the three month periods ended September 29, 2013 and September 30, 2012, and totaled $17,373,000 and $24,466,000 for the nine month periods then ended, respectively.  There were no gross gains or losses related to sales of marketable securities during the same periods.  Net unrealized losses included in other comprehensive income, were $12,000 and $2,000 before taxes for the three month periods ended September 29, 2013 and September 30, 2012, and were $42,000 and $24,000 before taxes for the nine month periods then ended, respectively.  No unrealized gains or losses were reclassified out of accumulated other comprehensive income during the same periods.

 

The contractual maturities of the marketable securities held at September 29, 2013 are as follows: $13,679,000 within one year; $12,740,000 beyond one year to five years; $5,263,000 beyond five years to ten years, and $12,639,000 beyond ten years. All of the instruments in the beyond five year ranges are variable rate demand notes which can be tendered for cash at par plus interest within seven days.  Despite the stated contractual maturity date, to the extent a tender is not honored, the notes become immediately due and payable.


Cash, Cash Equivalents And Marketable Securities (Tables)
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Cash, Cash Equivalents And Marketable Securities (Tables)
 9 Months Ended
Sep. 29, 2013
Cash, Cash Equivalents And Marketable Securities [Abstract]  
Summary Of The Amortized Costs And Fair Values Of Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

MARKETABLE SECURITIES

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

September 29, 2013

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
23,591 

 

$
23,630 

 

$
42 

 

$
3 

Variable Rate Demand Notes

 

 
20,691 

 

 
20,691 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
44,282 

 

$
44,321 

 

$
42 

 

$
3 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,412 

 

$
24,494 

 

$
94 

 

$
12 

Variable Rate Demand Notes

 

 
31,092 

 

 
31,092 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
55,504 

 

$
55,586 

 

$
94 

 

$
12 

 


Cash, Cash Equivalents And Marketable Securities (Narrative) (Details)
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Cash, Cash Equivalents And Marketable Securities (Narrative) (Details) (USD $)
 3 Months Ended 9 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Sep. 29, 2013
Sep. 30, 2012
Transfers into Level 2 $ 0   $ 0  
Transfers out of Level 2 0   0  
Proceeds from sales of available-for-sale securities 723,000 14,211,000 17,373,000 24,466,000
Gross gains or losses related to sales of marketable securities 0 0 0 0
Net unrealized losses included in accumulated other comprehensive income, before taxes 12,000 2,000 42,000 24,000
Contractual maturities of marketable securities within 1 year 13,679,000   13,679,000  
Contractual maturities of marketable securities, years 2-5 12,740,000   12,740,000  
Contractual maturities of marketable securities, years 6-10 5,263,000   5,263,000  
Contractual maturities of marketable securities, after 10 years 12,639,000   12,639,000  
Marketable securities liquidation period     7 days  
Accumulated Net Unrealized Investment Gain (Loss) [Member]
        
Reclassification out of AOCI $ 0 $ 0 $ 0 $ 0

Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details)
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Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 29, 2013
Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost $ 44,282 $ 55,504
MARKETABLE SECURITIES, Fair Value 44,321 55,586
MARKETABLE SECURITIES, Gross Unrealized Gains 42 94
MARKETABLE SECURITIES - Gross Unrealized Losses 3 12
Tax-Exempt Municipal Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 23,591 24,412
MARKETABLE SECURITIES, Fair Value 23,630 24,494
MARKETABLE SECURITIES, Gross Unrealized Gains 42 94
MARKETABLE SECURITIES - Gross Unrealized Losses 3 12
Variable Rate Demand Notes [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 20,691 31,092
MARKETABLE SECURITIES, Fair Value $ 20,691 $ 31,092

Commitments And Contingencies
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Commitments And Contingencies
 9 Months Ended
Sep. 29, 2013
Commitments And Contingencies [Abstract]  
Commitments And Contingencies

NOTE G – 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 have a material effect on the Company's consolidated financial position, liquidity, or results of operations.


Subsequent Event
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Subsequent Event
 9 Months Ended
Sep. 29, 2013
Subsequent Event [Abstract]  
Subsequent Event

NOTE H – SUBSEQUENT EVENT

On November 7, 2013, AMTEC Corporation, a wholly-owned subsidiary of the Company, purchased substantially all of the assets of DSE, Inc. (“DSE”), a defense contractor that manufactures and sells 40MM ammunitions to the U.S. Government.  The purchase price was $47.1 million.

 

The fair value of the assets acquired and liabilities assumed as of the date of acquisition will be recorded in the Company’s consolidated financial statements.  Because the valuation of the assets acquired and liabilities assumed had not been completed as of the date of the issuance of the Company’s consolidated financial statements, it was not possible to reasonably estimate the nature and amount of any potential goodwill or the value of identifiable intangible assets.

 

Assets acquired include inventory, equipment, and contract backlog.  The latter is approximately $187 million and is scheduled for production and shipment during the next 36 months.


Subsequent Event (Narrative) (Details)
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Subsequent Event (Narrative) (Details) (Subsequent Event [Member], USD $)
In Millions, unless otherwise specified
 0 Months Ended 9 Months Ended
Nov. 07, 2013
Sep. 29, 2013
Subsequent Event [Line Items]    
Business acquisition, purchase price $ 47.1  
Contract Backlog [Member]
    
Subsequent Event [Line Items]    
Acquired assets $ 187  
Acquired asset, useful life   36 months