Document And Entity Information
v5.17.1.24
Document And Entity Information (USD $)
12 Months Ended
Dec. 31, 2015
Mar. 01, 2016
Jul. 05, 2015
Document And Entity Information [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2015    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2015    
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   6,935,471dei_EntityCommonStockSharesOutstanding  
Entity Public Float     $ 381,149,312dei_EntityPublicFloat
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer No    

Consolidated Balance Sheets
v5.17.1.24
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 56,222us-gaap_CashAndCashEquivalentsAtCarryingValue $ 54,043us-gaap_CashAndCashEquivalentsAtCarryingValue
Marketable securities 32,259us-gaap_MarketableSecuritiesCurrent 22,404us-gaap_MarketableSecuritiesCurrent
Accounts receivable 69,424us-gaap_AccountsReceivableGross 70,171us-gaap_AccountsReceivableGross
Less allowance for doubtful accounts 1,896us-gaap_AllowanceForDoubtfulAccountsReceivable 1,419us-gaap_AllowanceForDoubtfulAccountsReceivable
Accounts receivable, net 67,528us-gaap_AccountsReceivableNetCurrent 68,752us-gaap_AccountsReceivableNetCurrent
Inventories:    
Finished goods 32,585us-gaap_InventoryFinishedGoodsNetOfReserves 30,308us-gaap_InventoryFinishedGoodsNetOfReserves
Work in process 57,484us-gaap_InventoryWorkInProcess 50,569us-gaap_InventoryWorkInProcess
Raw materials and supplies 8,553us-gaap_InventoryRawMaterialsAndSupplies 8,181us-gaap_InventoryRawMaterialsAndSupplies
Total inventory 98,622us-gaap_InventoryNet 89,058us-gaap_InventoryNet
Income tax receivable   1,668us-gaap_IncomeTaxesReceivable
Other current assets 6,961us-gaap_OtherAssetsCurrent 9,671us-gaap_OtherAssetsCurrent
Total current assets 261,592us-gaap_AssetsCurrent 245,596us-gaap_AssetsCurrent
PROPERTY, PLANT AND EQUIPMENT:    
Land and land improvements 4,807us-gaap_Land 4,757us-gaap_Land
Buildings 43,392us-gaap_BuildingsAndImprovementsGross 39,927us-gaap_BuildingsAndImprovementsGross
Machinery and equipment 129,429us-gaap_MachineryAndEquipmentGross 126,580us-gaap_MachineryAndEquipmentGross
PROPERTY, PLANT AND EQUIPMENT 177,628us-gaap_PropertyPlantAndEquipmentGross 171,264us-gaap_PropertyPlantAndEquipmentGross
Less allowance for depreciation 86,322us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 75,721us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
PROPERTY, PLANT AND EQUIPMENT, NET 91,306us-gaap_PropertyPlantAndEquipmentNet 95,543us-gaap_PropertyPlantAndEquipmentNet
GOODWILL 11,485us-gaap_Goodwill 11,485us-gaap_Goodwill
INTANGIBLE ASSETS, net 5,471us-gaap_IntangibleAssetsNetExcludingGoodwill 10,644us-gaap_IntangibleAssetsNetExcludingGoodwill
NOTE RECEIVABLE 3,940us-gaap_NotesAndLoansReceivableNetNoncurrent 3,818us-gaap_NotesAndLoansReceivableNetNoncurrent
DEFERRED INCOME TAXES 3,336us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent 2,335us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent
OTHER ASSETS 10,254us-gaap_OtherAssetsNoncurrent 4,650us-gaap_OtherAssetsNoncurrent
Total assets 387,384us-gaap_Assets 374,071us-gaap_Assets
CURRENT LIABILITIES:    
Accounts payable 32,536us-gaap_AccountsPayableCurrent 32,948us-gaap_AccountsPayableCurrent
Federal and state income taxes 2,196us-gaap_AccruedIncomeTaxesCurrent  
Accrued liabilities 13,398us-gaap_AccruedLiabilitiesCurrent 15,680us-gaap_AccruedLiabilitiesCurrent
Total current liabilities 48,130us-gaap_LiabilitiesCurrent 48,628us-gaap_LiabilitiesCurrent
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY    
Common stock, $1 par value: Authorized: 12,000,000 shares at December 31, 2015 and 2014; Issued: 7,440,518 shares at December 31, 2015 and 2014; Outstanding: 6,935,471 and 6,917,222 shares at December 31, 2015 and 2014, respectively 7,441us-gaap_CommonStockValue 7,441us-gaap_CommonStockValue
Paid-in capital 6,775us-gaap_AdditionalPaidInCapitalCommonStock 5,906us-gaap_AdditionalPaidInCapitalCommonStock
Retained earnings 340,799us-gaap_RetainedEarningsAccumulatedDeficit 328,417us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive loss (9)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (3)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Stockholders' Equity before Treasury Stock 355,006us-gaap_StockholdersEquityBeforeTreasuryStock 341,761us-gaap_StockholdersEquityBeforeTreasuryStock
Less treasury stock, at cost, 505,047 and 523,296 shares at December 31, 2015 and 2014, respectively 15,752us-gaap_TreasuryStockValue 16,318us-gaap_TreasuryStockValue
Total stockholders' equity 339,254us-gaap_StockholdersEquity 325,443us-gaap_StockholdersEquity
Total liabilities and stockholders' equity $ 387,384us-gaap_LiabilitiesAndStockholdersEquity $ 374,071us-gaap_LiabilitiesAndStockholdersEquity

Consolidated Balance Sheets (Parenthetical)
v5.17.1.24
Consolidated Balance Sheets (Parenthetical) (USD $)
Dec. 31, 2015
Dec. 31, 2014
Consolidated Balance Sheets [Abstract]    
Common stock, par value $ 1us-gaap_CommonStockParOrStatedValuePerShare $ 1us-gaap_CommonStockParOrStatedValuePerShare
Common stock, shares authorized 12,000,000us-gaap_CommonStockSharesAuthorized 12,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued 7,440,518us-gaap_CommonStockSharesIssued 7,440,518us-gaap_CommonStockSharesIssued
Common stock, shares outstanding 6,935,471us-gaap_CommonStockSharesOutstanding 6,917,222us-gaap_CommonStockSharesOutstanding
Treasury stock, at cost 505,047us-gaap_TreasuryStockShares 523,296us-gaap_TreasuryStockShares

Consolidated Statements Of Comprehensive Income
v5.17.1.24
Consolidated Statements Of Comprehensive Income (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Consolidated Statements Of Comprehensive Income [Abstract]      
Net sales $ 427,690,000us-gaap_SalesRevenueNet $ 412,363,000us-gaap_SalesRevenueNet $ 420,188,000us-gaap_SalesRevenueNet
Cost of sales 338,113,000us-gaap_CostOfGoodsAndServicesSold 335,162,000us-gaap_CostOfGoodsAndServicesSold 340,836,000us-gaap_CostOfGoodsAndServicesSold
Gross profit 89,577,000us-gaap_GrossProfit 77,201,000us-gaap_GrossProfit 79,352,000us-gaap_GrossProfit
Selling and general expenses 24,010,000us-gaap_SellingGeneralAndAdministrativeExpense 23,216,000us-gaap_SellingGeneralAndAdministrativeExpense 21,231,000us-gaap_SellingGeneralAndAdministrativeExpense
Intangibles amortization 5,173,000us-gaap_AmortizationOfIntangibleAssets 11,991,000us-gaap_AmortizationOfIntangibleAssets 667,000us-gaap_AmortizationOfIntangibleAssets
Impairment of finite lived intangible assets   2,063,000us-gaap_ImpairmentOfIntangibleAssetsFinitelived  
Goodwill impairment 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 2,840,000us-gaap_GoodwillImpairmentLoss
Change in contingent consideration liability     (3,000,000)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Operating profit 60,394,000us-gaap_OperatingIncomeLoss 39,931,000us-gaap_OperatingIncomeLoss 57,614,000us-gaap_OperatingIncomeLoss
Other income, principally interest 396,000us-gaap_OtherNonoperatingIncomeExpense 366,000us-gaap_OtherNonoperatingIncomeExpense 731,000us-gaap_OtherNonoperatingIncomeExpense
Earnings before provision for income taxes 60,790,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 40,297,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 58,345,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes 20,294,000us-gaap_IncomeTaxExpenseBenefit 13,820,000us-gaap_IncomeTaxExpenseBenefit 17,093,000us-gaap_IncomeTaxExpenseBenefit
Net earnings 40,496,000us-gaap_NetIncomeLoss 26,477,000us-gaap_NetIncomeLoss 41,252,000us-gaap_NetIncomeLoss
Weighted average common shares outstanding:      
Basic and diluted 6,951us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 6,930us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 6,907us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
Net earnings per share:      
Basic and diluted $ 5.83us-gaap_EarningsPerShareBasicAndDiluted $ 3.82us-gaap_EarningsPerShareBasicAndDiluted $ 5.97us-gaap_EarningsPerShareBasicAndDiluted
Other comprehensive loss, net of tax:      
Unrealized loss on available-for-sale securities 6,000us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent 11,000us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent 45,000us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
Comprehensive income $ 40,490,000us-gaap_ComprehensiveIncomeNetOfTax $ 26,466,000us-gaap_ComprehensiveIncomeNetOfTax $ 41,207,000us-gaap_ComprehensiveIncomeNetOfTax

Consolidated Statements Of Cash Flows
v5.17.1.24
Consolidated Statements Of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net earnings $ 40,496,000us-gaap_NetIncomeLoss $ 26,477,000us-gaap_NetIncomeLoss $ 41,252,000us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Intangibles amortization 5,173,000us-gaap_AmortizationOfIntangibleAssets 11,991,000us-gaap_AmortizationOfIntangibleAssets 667,000us-gaap_AmortizationOfIntangibleAssets
Provision for depreciation 10,427,000us-gaap_Depreciation 9,828,000us-gaap_Depreciation 8,277,000us-gaap_Depreciation
Deferred income tax provision (benefit) (998,000)us-gaap_DeferredIncomeTaxExpenseBenefit (1,005,000)us-gaap_DeferredIncomeTaxExpenseBenefit 239,000us-gaap_DeferredIncomeTaxExpenseBenefit
Impairment of finite lived intangible assets   2,063,000us-gaap_ImpairmentOfIntangibleAssetsFinitelived  
Change in contingent consideration liability     (3,000,000)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Goodwill impairment 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 2,840,000us-gaap_GoodwillImpairmentLoss
Loss (gain) on disposal of property, plant and equipment 70,000us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges (2,000)us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges (154,000)us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges
Provision for doubtful accounts 516,000us-gaap_ProvisionForDoubtfulAccounts 532,000us-gaap_ProvisionForDoubtfulAccounts 816,000us-gaap_ProvisionForDoubtfulAccounts
Noncash retirement plan expense 775,000npk_NoncashRetirementPlanExpense 705,000npk_NoncashRetirementPlanExpense 598,000npk_NoncashRetirementPlanExpense
Other 220,000us-gaap_OtherNoncashIncomeExpense 141,000us-gaap_OtherNoncashIncomeExpense 10,000us-gaap_OtherNoncashIncomeExpense
Changes in:      
Accounts receivable 708,000us-gaap_IncreaseDecreaseInAccountsReceivable 16,536,000us-gaap_IncreaseDecreaseInAccountsReceivable (8,533,000)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (9,398,000)us-gaap_IncreaseDecreaseInInventories 8,144,000us-gaap_IncreaseDecreaseInInventories (9,150,000)us-gaap_IncreaseDecreaseInInventories
Other assets and current assets (2,894,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets 5,291,000us-gaap_IncreaseDecreaseInOtherOperatingAssets (10,728,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable and accrued liabilities (2,684,000)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (6,033,000)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 2,948,000us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Federal and state income taxes receivable/payable 3,864,000us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable (1,455,000)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable (1,863,000)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Net cash provided by operating activities 46,275,000us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 73,213,000us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 24,219,000us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:      
Marketable securities purchased (20,170,000)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (8,976,000)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (6,151,000)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
Marketable securities - maturities and sales 10,306,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 22,959,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 25,263,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
Purchase of property, plant and equipment (6,461,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (11,287,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (36,256,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Acquisition of customer contract     (21,968,000)us-gaap_PaymentsToAcquireIntangibleAssets
Sale of property, plant and equipment 25,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 307,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 409,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Acquisition of businesses, net of cash acquired   (10,534,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Net cash used in investing activities (16,300,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (7,531,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (38,703,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Dividends paid (28,114,000)us-gaap_PaymentsOfDividendsCommonStock (34,954,000)us-gaap_PaymentsOfDividendsCommonStock  
Proceeds from sale of treasury stock 323,000us-gaap_ProceedsFromSaleOfTreasuryStock 362,000us-gaap_ProceedsFromSaleOfTreasuryStock  
Other (5,000)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities    
Net cash used in financing activities (27,796,000)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (34,592,000)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations  
Net increase (decrease) in cash and cash equivalents 2,179,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 31,090,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (14,484,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 54,043,000us-gaap_CashAndCashEquivalentsAtCarryingValue 22,953,000us-gaap_CashAndCashEquivalentsAtCarryingValue 37,437,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 56,222,000us-gaap_CashAndCashEquivalentsAtCarryingValue 54,043,000us-gaap_CashAndCashEquivalentsAtCarryingValue 22,953,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of cash flow information:      
Income taxes $ 21,930,000us-gaap_IncomeTaxesPaid $ 17,411,000us-gaap_IncomeTaxesPaid $ 19,076,000us-gaap_IncomeTaxesPaid

Consolidated Statements Of Stockholders' Equity
v5.17.1.24
Consolidated Statements Of Stockholders' Equity (USD $)
In Thousands, except Share data
Common Stock [Member]
Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Comprehensive Income (Loss) [Member]
Treasury Stock [Member]
Total
Balance at Dec. 31, 2012 $ 7,441us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 4,472us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ 295,643us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ 53us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ (17,038)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
$ 290,571us-gaap_StockholdersEquity
Balance, shares at Dec. 31, 2012 6,894,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Net earnings     41,252us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
    41,252us-gaap_NetIncomeLoss
Unrealized loss on available-for-sale securities       (45)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  (45)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
Other   526us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
    247us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
773us-gaap_StockholdersEquityOther
Other, shares 8,000us-gaap_StockholdersEquityOtherShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Balance at Dec. 31, 2013 7,441us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
4,998us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
336,895us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
8us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(16,791)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
332,551us-gaap_StockholdersEquity
Balance, shares at Dec. 31, 2013 6,902,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Net earnings     26,477us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
    26,477us-gaap_NetIncomeLoss
Unrealized loss on available-for-sale securities       (11)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  (11)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
Dividends paid     (34,954)us-gaap_DividendsCommonStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
    (34,954)us-gaap_DividendsCommonStock
Other   908us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(1)us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
  473us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
1,380us-gaap_StockholdersEquityOther
Other, shares 15,000us-gaap_StockholdersEquityOtherShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Balance at Dec. 31, 2014 7,441us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
5,906us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
328,417us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(3)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(16,318)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
325,443us-gaap_StockholdersEquity
Balance, shares at Dec. 31, 2014 6,917,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        6,917,222us-gaap_CommonStockSharesOutstanding
Net earnings     40,496us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
    40,496us-gaap_NetIncomeLoss
Unrealized loss on available-for-sale securities       (6)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  (6)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
Dividends paid     (28,114)us-gaap_DividendsCommonStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
    (28,114)us-gaap_DividendsCommonStock
Other   869us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
    566us-gaap_StockholdersEquityOther
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
1,435us-gaap_StockholdersEquityOther
Other, shares 18,000us-gaap_StockholdersEquityOtherShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Balance at Dec. 31, 2015 $ 7,441us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 6,775us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ 340,799us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (9)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ (15,752)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_TreasuryStockMember
$ 339,254us-gaap_StockholdersEquity
Balance, shares at Dec. 31, 2015 6,935,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        6,935,471us-gaap_CommonStockSharesOutstanding

Consolidated Statements Of Stockholders' Equity (Parenthetical)
v5.17.1.24
Consolidated Statements Of Stockholders' Equity (Parenthetical) (Quarter 1 Dividend Payment [Member], USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Quarter 1 Dividend Payment [Member]
   
Regular dividends per share paid $ 1.00npk_RegularDividendsPerSharePaid
/ us-gaap_DividendsAxis
= npk_QuarterOneDividendPaymentMember
$ 1.00npk_RegularDividendsPerSharePaid
/ us-gaap_DividendsAxis
= npk_QuarterOneDividendPaymentMember
Extra dividends per share paid $ 3.05npk_ExtraDividendsPerSharePaid
/ us-gaap_DividendsAxis
= npk_QuarterOneDividendPaymentMember
$ 4.05npk_ExtraDividendsPerSharePaid
/ us-gaap_DividendsAxis
= npk_QuarterOneDividendPaymentMember

Summary Of Significant Accounting Policies
v5.17.1.24
Summary Of Significant Accounting Policies
12 Months Ended
Dec. 31, 2015
Summary Of Significant Accounting Policies [Abstract]  
Summary Of Significant Accounting Policies

A.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

 

(1)  USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS:  In preparation of the Company's Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and related revenues and expenses.   Actual results could differ from the estimates used by management.

 

(2)  BASIS OF PRESENTATION:  The Consolidated Financial Statements include the accounts of National Presto Industries, Inc. and its subsidiaries, all of which are wholly-owned.  All material intercompany accounts and transactions are eliminated.  For a further discussion of the Company's business and the segments in which it operates, please refer to Note L.

 

(3)  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, but did result in the reclassification of $4,650,000 from current to non-current assets in the December 31, 2014 balance sheet.  The Company does not consider this adjustment to be significant to the consolidated financial statements.

 

(4)  FAIR VALUE OF FINANCIAL INSTRUMENTS:  The Company utilizes the methods of determining 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.  The fair value of marketable securities are discussed in Note A(5). 

 

(5)  CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES: 

 

Cash and Cash Equivalents:  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's cash management policy provides for its bank disbursement accounts to be reimbursed on a daily basis.  Checks issued but not presented to the bank for payment of $4,071,000 and $7,039,000 at December 31, 2015 and 2014, respectively, are included as reductions of cash and cash equivalents or bank overdrafts in accounts payable, as appropriate.

 

Marketable Securities:  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 December 31, 2015 and 2014, 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 December 31 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 2015 and 2014.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

MARKETABLE SECURITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

20,129 

 

$

20,115 

 

$

 

$

18 

Variable Rate Demand Notes

 

12,144 

 

 

12,144 

 

 

 -

 

 

 -

Total Marketable Securities

$

32,273 

 

$

32,259 

 

$

 

$

18 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

8,809 

 

$

8,804 

 

$

 

$

10 

Variable Rate Demand Notes

 

13,600 

 

 

13,600 

 

 

 -

 

 

 -

Total Marketable Securities

$

22,409 

 

$

22,404 

 

$

 

$

10 

 

Proceeds from sales and maturities of marketable securities totaled $10,306,000 in 2015, $22,959,000 in 2014, and $25,263,000 in 2013.  There were no realized gross gains or losses related to sales of marketable securities during the years ended December 31, 2015, 2014 and 2013.  Net unrealized losses included in other comprehensive income were $9,000, $17,000 and $70,000 before taxes for the years ended December 31, 2015, 2014, and 2013, 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 December 31, 2015 are as follows: $16,252,000 within one year; $4,414,000 beyond one year to five years; $7,177,000 beyond five years to ten years, and $4,416,000 beyond ten years. All of the instruments in the beyond five year ranges are variable rate demand notes which, as noted above, 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. 

 

(6)  ACCOUNTS RECEIVABLE:  The Company's accounts receivable is related to sales of products.  Credit is extended based on prior experience with the customer and evaluation of customers' financial condition.  Accounts receivable are primarily due within 30 to 60 days.  The Company does not accrue interest on past due accounts receivable.  Receivables are written off only after all collection attempts have failed and are based on individual credit evaluation and the specific circumstances of the customer.  The allowance for doubtful accounts represents an estimate of amounts considered uncollectible and is determined based on the Company's historical collection experience, adverse situations that may affect the customer's ability to pay, and prevailing economic conditions.

 

(7)  INVENTORIES:  Housewares/Small Appliance segment inventories are stated at the lower of cost or market with cost being determined principally on the last-in, first-out (LIFO) method.  Inventories for the Defense and Absorbent Products segments are stated at the lower of cost or market with cost being determined on the first-in, first-out (FIFO) method.  The Company evaluates inventories to determine if there are any excess or obsolete inventories on hand.

 

(8)  PROPERTY, PLANT AND EQUIPMENT:  Property, plant and equipment are stated at cost.  Straight-line depreciation is provided in amounts sufficient to charge the costs of depreciable assets to operations over their service lives which are estimated at 15 to 40 years for buildings, 3 to 10 years for machinery and equipment, and 15 to 20 years for land improvements.  The Company reviews long lived assets consisting principally of property, plant, and equipment, for impairment when material events and changes in circumstances indicate the carrying value may not be recoverable.    As of December 31, 2015, the Company reviewed long-lived assets in the Company’s Absorbent Products segment, and based on its analysis using internal undiscounted cash flow estimates, no impairment was considered necessary.  Approximately $3,100,000 of construction in progress in the Company’s Housewares/Small Appliances segment is presented on the Consolidated Balance Sheet as Buildings at December 31, 2015. In addition, $8,928,000 of construction in progress associated with the acquisition of a competitor’s assets in the Defense segment described in Note Q is presented as Machinery and equipment at December 31, 2015.

 

(9)  GOODWILL:  The Company recognizes the excess cost of acquired entities over the net amount assigned to the fair value of assets acquired and liabilities assumed as goodwill. Goodwill is tested for impairment on an annual basis at the start of the fourth quarter and between annual tests whenever an impairment is indicated, such as the occurrence of an event that would more likely than not reduce the fair value of the reporting unit below its carrying amount.  Impairment losses are recognized whenever the implied fair value of goodwill is less than its carrying value.  Goodwill impairments of $0,  $0, and $2,840,000 were recognized during 2015, 2014, and 2013, respectively.  The 2013 impairment related to AMTEC Less Lethal Systems, Inc. (“ALS”), a reporting unit in the Company’s Defense segment and was recognized as a result of the Company’s analysis comparing the implied fair value of the reporting unit’s goodwill to its recorded carrying amount.  The fair value used in the evaluation of the goodwill impairment was determined using a multiple of EBITDA approach and discounted cash flow estimates.  See Note R for a discussion of a contingent consideration liability reversal of $3,000,000 related to ALS in 2013.

 

The Company's goodwill as of December 31, 2015 and 2014  was $11,485,000, relating entirely to its Defense Products segment, which had no cumulative impairment charges at December 31, 2015.    

 

(10) INTANGIBLE ASSETS:  Intangible assets primarily consist of the value of a government sales contract, product backlogs, and consulting and non-compete agreements recognized as a result of the acquisition of certain assets of DSE, Inc., more fully described in Note Q, and the value of customer relationships, trademarks and non-compete agreements related to ALS mentioned above.  The intangible assets are all attributable to the Defense Products segment.  The government sales contract intangible asset is amortized based on units fulfilled under the applicable year contract, while the other intangible assets were amortized on a straight-line basis that approximates economic use, over periods ranging from one to nine years. 

 

Intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.  During 2014, the Company noted that the carrying amount of the customer relationships, trademarks and non-compete agreements related to ALS mentioned above exceeded the undiscounted cash flows expected to result from their use.  As a result, an impairment loss of $2,063,000 was recognized based on the Company’s analysis comparing the fair value of the intangible assets and their carrying amounts.  The fair value of the intangible assets was determined using a discounted cash flow model. 

 

The gross carrying amount of the government sales contract subject to amortization was $21,690,000 at December 31, 2015.  The gross carrying amounts of the government sales contract and other intangible assets subject to amortization were $21,690,000 and $278,000, respectively, totaling $21,968,000 at December 31, 2014.  Accumulated amortization was $16,497,000 and $11,324,000 at December 31, 2015 and 2014, respectively.  Amortization expense was $5,173,000, $11,991,000, and $667,000 during the years ended December 31, 2015, 2014, and 2013, respectively.  Estimated amortization expense as of December 31, 2015 for the succeeding years is shown in the following table:

 

 

 

 

 

 

 

 

 

 

Years ending December 31:

 

(In thousands)

2016

 

$

1,772 

2017

 

 

3,699 

 

 

(11) 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 up to three years.  As of December 31, 2015 and 2014, $16,254,000 and $13,018,000 of such prepayments, respectively, remained unused and outstanding.  At December 31, 2015 and 2014, $6,000,000 and $8,369,000 of these amounts, respectively, are included in Other Current Assets, representing the Company’s best estimate of the expected utilization of the prepayments and related materials during the twelve-month periods following those dates.

 

(12) REVENUE RECOGNITION: For all of its segments, the Company recognizes revenue when product is shipped or title passes pursuant to customers' orders, the price is fixed and collection is reasonably assured.  For the Housewares/Small appliance segment, the Company provides for its 60-day over-the-counter return privilege and warranties at the time of shipment. Net sales for this segment are calculated by deducting early payment discounts and cooperative advertising allowances from gross sales.  The Company records cooperative advertising allowances when revenue is recognized.  See Note A(13) for a description of the Company’s policy for sales returns.

 

(13) SALES & RETURNS: Sales are recorded net of estimated discounts and returns.  The latter pertain primarily to warranty returns, returns of seasonal items, and returns of those newly introduced products sold with a return privilege.  The calculation of warranty returns is based in large part on historical data, while seasonal and new product returns are primarily developed using customer provided information. 

 

(14) SHIPPING AND HANDLING COSTS:  In accordance with FASB ASC 605-45, Revenue Recognition, the Company includes shipping and handling revenues in net sales and shipping costs in cost of sales.

 

(15) ADVERTISING:  The Company's policy is to expense advertising as incurred and include it in selling and general expenses.  Advertising expense was $98,000, $202,000, and $363,000 in 2015, 2014, and 2013, respectively.

 

(16) PRODUCT WARRANTY:  The Company’s Housewares/Small Appliance segment’s products are generally warranted to the original owner to be free from defects in material and workmanship for a period of 1 to 12 years from date of purchase.  The Company allows a 60-day over-the-counter initial return privilege through cooperating dealers.  The Company services its products through a corporate service repair operation.  The Company estimates its product warranty liability based on historical percentages which have remained relatively consistent over the years. 

 

The product warranty liability is included in accounts payable on the balance sheet.  The following table shows the changes in product warranty liability for the period:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Year Ended December 31

 

2015

 

2014

Beginning balance January 1

$

377

 

$

568

Accruals during the period

 

677

 

 

296

Charges / payments made under the warranties

 

(567)

 

 

(487)

Balance December 31

$

487

 

$

377

 

 

 

(17) STOCK-BASED COMPENSATION:  The Company accounts for stock-based compensation in accordance with ASC 718, Compensation — Stock Compensation.  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period, net of estimated forfeitures. As more fully described in Note F, the Company awards non-vested restricted stock to employees and executive officers.

 

(18) INCOME TAXES:  Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws.  The deferred income tax provision or benefit generally reflects the net change in deferred income tax assets and liabilities during the year.  The current income tax provision reflects the tax consequences of revenues and expenses currently taxable or deductible on various income tax returns for the year reported.  Income tax contingencies are accounted for in accordance with FASB ASC 740, Income Taxes.  See Note H for summaries of the provision, the effective tax rates, and the tax effects of the cumulative temporary differences resulting in deferred tax assets and liabilities.

 

(19) RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS:

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months.  Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.  The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required.  The Company is currently evaluating the impact of the adoption of ASU 2016-02 on its consolidated financial statements.

 

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities.  The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017.  The Company is currently evaluating the impact of the adoption of ASU 2016-01 on its consolidated financial statements.

 

During November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred income taxes. ASU 2015-17 provides presentation requirements to classify deferred tax assets and liabilities as noncurrent in a classified statement of financial position. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is permitted for any interim and annual financial statements that have not yet been issued. The Company early adopted ASU 2015-17 effective December 31, 2015, retrospectively. The adoption resulted in a $6,623,000 decrease in current Deferred tax assets, a $2,335,000 increase in the long-term Deferred income taxes asset, net, and a $4,288,000 decrease in the long-term Deferred income taxes liability in the Company’s Consolidated Balance Sheet at December 31, 2014. The adoption had no impact on the Company’s results of operations.

 

In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.  ASU 2015-16 requires the acquirer in a business combination to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined.  The new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015.  Early adoption is permitted for financial statements that have not been previously issued.  The Company does not expect the adoption of ASU 2015-16 to have a material impact on its consolidated financial statements.

 

In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory.  ASU 2015-11 requires inventory to be measured at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.  ASU 2015-11 does not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method, but applies to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost.  ASU 2015-11 is effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years.  Early adoption is permitted.  The Company does not expect the adoption of ASU 2015-11 to have a material impact on its consolidated financial statements.

 

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) which amended the existing accounting standards for revenue recognition. ASU 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. It is effective for annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016. The amendment may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application.  The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements, but does not expect the impact to be material.


Summary Of Significant Accounting Policies (Policy)
v5.17.1.24
Summary Of Significant Accounting Policies (Policy)
12 Months Ended
Dec. 31, 2015
Summary Of Significant Accounting Policies [Abstract]  
Use Of Estimates In The Preparation Of Financial Statements

(1)  USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS:  In preparation of the Company's Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and related revenues and expenses.   Actual results could differ from the estimates used by management.

Basis Of Presentation

(2)  BASIS OF PRESENTATION:  The Consolidated Financial Statements include the accounts of National Presto Industries, Inc. and its subsidiaries, all of which are wholly-owned.  All material intercompany accounts and transactions are eliminated.  For a further discussion of the Company's business and the segments in which it operates, please refer to Note L.

Reclassifications

(3)  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, but did result in the reclassification of $4,650,000 from current to non-current assets in the December 31, 2014 balance sheet.  The Company does not consider this adjustment to be significant to the consolidated financial statements.

Fair Value Of Financial Instruments

(4)  FAIR VALUE OF FINANCIAL INSTRUMENTS:  The Company utilizes the methods of determining 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.  The fair value of marketable securities are discussed in Note A(5). 

Cash Cash Equivalents And Marketable Securities

(5)  CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES: 

 

Cash and Cash Equivalents:  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's cash management policy provides for its bank disbursement accounts to be reimbursed on a daily basis.  Checks issued but not presented to the bank for payment of $4,071,000 and $7,039,000 at December 31, 2015 and 2014, respectively, are included as reductions of cash and cash equivalents or bank overdrafts in accounts payable, as appropriate.

 

Marketable Securities:  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 December 31, 2015 and 2014, 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 December 31 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 2015 and 2014.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

MARKETABLE SECURITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

20,129 

 

$

20,115 

 

$

 

$

18 

Variable Rate Demand Notes

 

12,144 

 

 

12,144 

 

 

 -

 

 

 -

Total Marketable Securities

$

32,273 

 

$

32,259 

 

$

 

$

18 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

8,809 

 

$

8,804 

 

$

 

$

10 

Variable Rate Demand Notes

 

13,600 

 

 

13,600 

 

 

 -

 

 

 -

Total Marketable Securities

$

22,409 

 

$

22,404 

 

$

 

$

10 

 

Proceeds from sales and maturities of marketable securities totaled $10,306,000 in 2015, $22,959,000 in 2014, and $25,263,000 in 2013.  There were no realized gross gains or losses related to sales of marketable securities during the years ended December 31, 2015, 2014 and 2013.  Net unrealized losses included in other comprehensive income were $9,000, $17,000 and $70,000 before taxes for the years ended December 31, 2015, 2014, and 2013, 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 December 31, 2015 are as follows: $16,252,000 within one year; $4,414,000 beyond one year to five years; $7,177,000 beyond five years to ten years, and $4,416,000 beyond ten years. All of the instruments in the beyond five year ranges are variable rate demand notes which, as noted above, 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. 

Accounts Receivable

(6)  ACCOUNTS RECEIVABLE:  The Company's accounts receivable is related to sales of products.  Credit is extended based on prior experience with the customer and evaluation of customers' financial condition.  Accounts receivable are primarily due within 30 to 60 days.  The Company does not accrue interest on past due accounts receivable.  Receivables are written off only after all collection attempts have failed and are based on individual credit evaluation and the specific circumstances of the customer.  The allowance for doubtful accounts represents an estimate of amounts considered uncollectible and is determined based on the Company's historical collection experience, adverse situations that may affect the customer's ability to pay, and prevailing economic conditions.

Inventories

(7)  INVENTORIES:  Housewares/Small Appliance segment inventories are stated at the lower of cost or market with cost being determined principally on the last-in, first-out (LIFO) method.  Inventories for the Defense and Absorbent Products segments are stated at the lower of cost or market with cost being determined on the first-in, first-out (FIFO) method.  The Company evaluates inventories to determine if there are any excess or obsolete inventories on hand.

Property, Plant And Equipment

(8)  PROPERTY, PLANT AND EQUIPMENT:  Property, plant and equipment are stated at cost.  Straight-line depreciation is provided in amounts sufficient to charge the costs of depreciable assets to operations over their service lives which are estimated at 15 to 40 years for buildings, 3 to 10 years for machinery and equipment, and 15 to 20 years for land improvements.  The Company reviews long lived assets consisting principally of property, plant, and equipment, for impairment when material events and changes in circumstances indicate the carrying value may not be recoverable.    As of December 31, 2015, the Company reviewed long-lived assets in the Company’s Absorbent Products segment, and based on its analysis using internal undiscounted cash flow estimates, no impairment was considered necessary.  Approximately $3,100,000 of construction in progress in the Company’s Housewares/Small Appliances segment is presented on the Consolidated Balance Sheet as Buildings at December 31, 2015. In addition, $8,928,000 of construction in progress associated with the acquisition of a competitor’s assets in the Defense segment described in Note Q is presented as Machinery and equipment at December 31, 2015.

Goodwill

(9)  GOODWILL:  The Company recognizes the excess cost of acquired entities over the net amount assigned to the fair value of assets acquired and liabilities assumed as goodwill. Goodwill is tested for impairment on an annual basis at the start of the fourth quarter and between annual tests whenever an impairment is indicated, such as the occurrence of an event that would more likely than not reduce the fair value of the reporting unit below its carrying amount.  Impairment losses are recognized whenever the implied fair value of goodwill is less than its carrying value.  Goodwill impairments of $0,  $0, and $2,840,000 were recognized during 2015, 2014, and 2013, respectively.  The 2013 impairment related to AMTEC Less Lethal Systems, Inc. (“ALS”), a reporting unit in the Company’s Defense segment and was recognized as a result of the Company’s analysis comparing the implied fair value of the reporting unit’s goodwill to its recorded carrying amount.  The fair value used in the evaluation of the goodwill impairment was determined using a multiple of EBITDA approach and discounted cash flow estimates.  See Note R for a discussion of a contingent consideration liability reversal of $3,000,000 related to ALS in 2013.

 

The Company's goodwill as of December 31, 2015 and 2014  was $11,485,000, relating entirely to its Defense Products segment, which had no cumulative impairment charges at December 31, 2015.    

Intangible Assets

(10) INTANGIBLE ASSETS:  Intangible assets primarily consist of the value of a government sales contract, product backlogs, and consulting and non-compete agreements recognized as a result of the acquisition of certain assets of DSE, Inc., more fully described in Note Q, and the value of customer relationships, trademarks and non-compete agreements related to ALS mentioned above.  The intangible assets are all attributable to the Defense Products segment.  The government sales contract intangible asset is amortized based on units fulfilled under the applicable year contract, while the other intangible assets were amortized on a straight-line basis that approximates economic use, over periods ranging from one to nine years. 

 

Intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.  During 2014, the Company noted that the carrying amount of the customer relationships, trademarks and non-compete agreements related to ALS mentioned above exceeded the undiscounted cash flows expected to result from their use.  As a result, an impairment loss of $2,063,000 was recognized based on the Company’s analysis comparing the fair value of the intangible assets and their carrying amounts.  The fair value of the intangible assets was determined using a discounted cash flow model. 

 

The gross carrying amount of the government sales contract subject to amortization was $21,690,000 at December 31, 2015.  The gross carrying amounts of the government sales contract and other intangible assets subject to amortization were $21,690,000 and $278,000, respectively, totaling $21,968,000 at December 31, 2014.  Accumulated amortization was $16,497,000 and $11,324,000 at December 31, 2015 and 2014, respectively.  Amortization expense was $5,173,000, $11,991,000, and $667,000 during the years ended December 31, 2015, 2014, and 2013, respectively.  Estimated amortization expense as of December 31, 2015 for the succeeding years is shown in the following table:

 

 

 

 

 

 

 

 

 

 

Years ending December 31:

 

(In thousands)

2016

 

$

1,772 

2017

 

 

3,699 

 

Other Assets

(11) 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 up to three years.  As of December 31, 2015 and 2014, $16,254,000 and $13,018,000 of such prepayments, respectively, remained unused and outstanding.  At December 31, 2015 and 2014, $6,000,000 and $8,369,000 of these amounts, respectively, are included in Other Current Assets, representing the Company’s best estimate of the expected utilization of the prepayments and related materials during the twelve-month periods following those dates

Revenue Recognition

(12) REVENUE RECOGNITION: For all of its segments, the Company recognizes revenue when product is shipped or title passes pursuant to customers' orders, the price is fixed and collection is reasonably assured.  For the Housewares/Small appliance segment, the Company provides for its 60-day over-the-counter return privilege and warranties at the time of shipment. Net sales for this segment are calculated by deducting early payment discounts and cooperative advertising allowances from gross sales.  The Company records cooperative advertising allowances when revenue is recognized.  See Note A(13) for a description of the Company’s policy for sales returns.

Sales & Returns

(13) SALES & RETURNS: Sales are recorded net of estimated discounts and returns.  The latter pertain primarily to warranty returns, returns of seasonal items, and returns of those newly introduced products sold with a return privilege.  The calculation of warranty returns is based in large part on historical data, while seasonal and new product returns are primarily developed using customer provided information.

Shipping And Handling Costs

(14) SHIPPING AND HANDLING COSTS:  In accordance with FASB ASC 605-45, Revenue Recognition, the Company includes shipping and handling revenues in net sales and shipping costs in cost of sales.

Advertising

(15) ADVERTISING:  The Company's policy is to expense advertising as incurred and include it in selling and general expenses.  Advertising expense was $98,000, $202,000, and $363,000 in 2015, 2014, and 2013, respectively.

Product Warranty

(16) PRODUCT WARRANTY:  The Company’s Housewares/Small Appliance segment’s products are generally warranted to the original owner to be free from defects in material and workmanship for a period of 1 to 12 years from date of purchase.  The Company allows a 60-day over-the-counter initial return privilege through cooperating dealers.  The Company services its products through a corporate service repair operation.  The Company estimates its product warranty liability based on historical percentages which have remained relatively consistent over the years. 

 

The product warranty liability is included in accounts payable on the balance sheet.  The following table shows the changes in product warranty liability for the period:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Year Ended December 31

 

2015

 

2014

Beginning balance January 1

$

377

 

$

568

Accruals during the period

 

677

 

 

296

Charges / payments made under the warranties

 

(567)

 

 

(487)

Balance December 31

$

487

 

$

377

 

 

Stock-Based Compensation

(17) STOCK-BASED COMPENSATION:  The Company accounts for stock-based compensation in accordance with ASC 718, Compensation — Stock Compensation.  Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period, net of estimated forfeitures. As more fully described in Note F, the Company awards non-vested restricted stock to employees and executive officers.

Income Taxes

(18) INCOME TAXES:  Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws.  The deferred income tax provision or benefit generally reflects the net change in deferred income tax assets and liabilities during the year.  The current income tax provision reflects the tax consequences of revenues and expenses currently taxable or deductible on various income tax returns for the year reported.  Income tax contingencies are accounted for in accordance with FASB ASC 740, Income Taxes.  See Note H for summaries of the provision, the effective tax rates, and the tax effects of the cumulative temporary differences resulting in deferred tax assets and liabilities.


Summary Of Significant Accounting Policies (Tables)
v5.17.1.24
Summary Of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Summary Of Significant Accounting Policies [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

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

20,129 

 

$

20,115 

 

$

 

$

18 

Variable Rate Demand Notes

 

12,144 

 

 

12,144 

 

 

 -

 

 

 -

Total Marketable Securities

$

32,273 

 

$

32,259 

 

$

 

$

18 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt Municipal Bonds

$

8,809 

 

$

8,804 

 

$

 

$

10 

Variable Rate Demand Notes

 

13,600 

 

 

13,600 

 

 

 -

 

 

 -

Total Marketable Securities

$

22,409 

 

$

22,404 

 

$

 

$

10 

 

Schedule Of Estimated Future Amortization Expense

 

 

 

 

 

 

 

 

Years ending December 31:

 

(In thousands)

2016

 

$

1,772 

2017

 

 

3,699 

 

Schedule Of Changes In Product Warranty

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Year Ended December 31

 

2015

 

2014

Beginning balance January 1

$

377

 

$

568

Accruals during the period

 

677

 

 

296

Charges / payments made under the warranties

 

(567)

 

 

(487)

Balance December 31

$

487

 

$

377

 


Summary Of Significant Accounting Policies (Narrative) (Details)
v5.17.1.24
Summary Of Significant Accounting Policies (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Significant Accounting Policies [Line Items]      
Prior Period Reclassification Adjustment $ 4,650,000us-gaap_PriorPeriodReclassificationAdjustment    
Checks outstanding 4,071,000us-gaap_AccountsPayableOtherCurrent 7,039,000us-gaap_AccountsPayableOtherCurrent  
Transfers into Level 2 0us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount 0us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount  
Transfers out of Level 2 0us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount 0us-gaap_FairValueAssetsLevel2ToLevel1TransfersAmount  
Proceeds from sale and maturity of available for sale securities 10,306,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 22,959,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 25,263,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
Net unrealized losses included OCI 9,000us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLoss 17,000us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLoss 70,000us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLoss
Contractual maturities of marketable securities, within one year 16,252,000us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue    
Contractual maturities of marketable securities, beyond one year to five years 4,414,000us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue    
Contractual maturities of marketable securities, beyond five years to ten years 7,177,000us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue    
Contractual maturities of marketable securities, beyond ten years 4,416,000us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue    
Goodwill 11,485,000us-gaap_Goodwill 11,485,000us-gaap_Goodwill  
Goodwill impairment charges 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 2,840,000us-gaap_GoodwillImpairmentLoss
Change in contingent consideration liability     3,000,000us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Goodwill, Cumulative Impairment Charges 0us-gaap_GoodwillImpairedAccumulatedImpairmentLoss    
Impairment of finite lived intangible assets   2,063,000us-gaap_ImpairmentOfIntangibleAssetsFinitelived  
Gross carrying amount of intangibles   21,968,000us-gaap_FiniteLivedIntangibleAssetsGross  
Accumulated amortization of intangibles 16,497,000us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization 11,324,000us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization  
Amortization expense 5,173,000us-gaap_AmortizationOfIntangibleAssets 11,991,000us-gaap_AmortizationOfIntangibleAssets 667,000us-gaap_AmortizationOfIntangibleAssets
Advertising expense 98,000us-gaap_AdvertisingExpense 202,000us-gaap_AdvertisingExpense 363,000us-gaap_AdvertisingExpense
DEFERRED INCOME TAXES 3,336,000us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent 2,335,000us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent  
Adjustments for New Accounting Principle, Early Adoption [Member] | Restatement Adjustment [Member]      
Significant Accounting Policies [Line Items]      
Current Deferred tax assets 6,623,000us-gaap_DeferredTaxAssetsNetCurrent
/ us-gaap_AdjustmentsForNewAccountingPronouncementsAxis
= us-gaap_AdjustmentsForNewAccountingPrincipleEarlyAdoptionMember
/ us-gaap_StatementScenarioAxis
= us-gaap_RestatementAdjustmentMember
   
DEFERRED INCOME TAXES 2,335,000us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent
/ us-gaap_AdjustmentsForNewAccountingPronouncementsAxis
= us-gaap_AdjustmentsForNewAccountingPrincipleEarlyAdoptionMember
/ us-gaap_StatementScenarioAxis
= us-gaap_RestatementAdjustmentMember
   
Long-term Deferred income taxes liability 4,288,000us-gaap_DeferredTaxLiabilitiesNoncurrent
/ us-gaap_AdjustmentsForNewAccountingPronouncementsAxis
= us-gaap_AdjustmentsForNewAccountingPrincipleEarlyAdoptionMember
/ us-gaap_StatementScenarioAxis
= us-gaap_RestatementAdjustmentMember
   
Defense Products [Member]      
Significant Accounting Policies [Line Items]      
Construction in progress 8,928,000us-gaap_ConstructionInProgressGross
/ us-gaap_StatementBusinessSegmentsAxis
= npk_DefenseProductsMember
   
Goodwill 11,485,000us-gaap_Goodwill
/ us-gaap_StatementBusinessSegmentsAxis
= npk_DefenseProductsMember
11,485,000us-gaap_Goodwill
/ us-gaap_StatementBusinessSegmentsAxis
= npk_DefenseProductsMember
 
Housewares/ Small Appliances [Member]      
Significant Accounting Policies [Line Items]      
Construction in progress 3,100,000us-gaap_ConstructionInProgressGross
/ us-gaap_StatementBusinessSegmentsAxis
= npk_HousewaresSmallAppliancesMember
   
Expected prepayment utilization period 3 years    
Materials Prepayments 16,254,000us-gaap_MaterialsSuppliesAndOther
/ us-gaap_StatementBusinessSegmentsAxis
= npk_HousewaresSmallAppliancesMember
13,018,000us-gaap_MaterialsSuppliesAndOther
/ us-gaap_StatementBusinessSegmentsAxis
= npk_HousewaresSmallAppliancesMember
 
Standard product warranty coverage period 60 days    
Sales returns coverage period 60 days    
Minimum [Member]      
Significant Accounting Policies [Line Items]      
Accounts receivable, collection period 30 days    
Economic use period for intangibles   1 year  
Minimum [Member] | Housewares/ Small Appliances [Member]      
Significant Accounting Policies [Line Items]      
Standard product warranty coverage period 1 year    
Minimum [Member] | Buildings [Member]      
Significant Accounting Policies [Line Items]      
Useful life 15 years    
Minimum [Member] | Machinery and Equipment [Member]      
Significant Accounting Policies [Line Items]      
Useful life 3 years    
Minimum [Member] | Land Improvements [Member]      
Significant Accounting Policies [Line Items]      
Useful life 15 years    
Maximum [Member]      
Significant Accounting Policies [Line Items]      
Accounts receivable, collection period 60 days    
Economic use period for intangibles   9 years  
Maximum [Member] | Housewares/ Small Appliances [Member]      
Significant Accounting Policies [Line Items]      
Standard product warranty coverage period 12 years    
Maximum [Member] | Buildings [Member]      
Significant Accounting Policies [Line Items]      
Useful life 40 years    
Maximum [Member] | Machinery and Equipment [Member]      
Significant Accounting Policies [Line Items]      
Useful life 10 years    
Maximum [Member] | Land Improvements [Member]      
Significant Accounting Policies [Line Items]      
Useful life 20 years    
Maximum [Member] | Variable Rate Demand Notes [Member]      
Significant Accounting Policies [Line Items]      
Number of days to tender securites 7 days    
Government Sales Contract Intangible Assets [Member]      
Significant Accounting Policies [Line Items]      
Gross carrying amount of intangibles 21,690,000us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= npk_GovernmentSalesContractIntangibleAssetsMember
21,690,000us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= npk_GovernmentSalesContractIntangibleAssetsMember
 
Other Intangible Assets [Member]      
Significant Accounting Policies [Line Items]      
Gross carrying amount of intangibles   278,000us-gaap_FiniteLivedIntangibleAssetsGross
/ us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis
= us-gaap_OtherIntangibleAssetsMember
 
Other Current Assets [Member] | Housewares/ Small Appliances [Member]      
Significant Accounting Policies [Line Items]      
Materials Prepayments $ 6,000,000us-gaap_MaterialsSuppliesAndOther
/ us-gaap_BalanceSheetLocationAxis
= us-gaap_OtherCurrentAssetsMember
/ us-gaap_StatementBusinessSegmentsAxis
= npk_HousewaresSmallAppliancesMember
$ 8,369,000us-gaap_MaterialsSuppliesAndOther
/ us-gaap_BalanceSheetLocationAxis
= us-gaap_OtherCurrentAssetsMember
/ us-gaap_StatementBusinessSegmentsAxis
= npk_HousewaresSmallAppliancesMember
 

Summary Of Significant Accounting Policies (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details)
v5.17.1.24
Summary Of Significant Accounting Policies (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost $ 32,273us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis $ 22,409us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis
MARKETABLE SECURITIES, Fair Value 32,259us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent 22,404us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent
MARKETABLE SECURITIES, Gross Unrealized Gains 4us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax 5us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
MARKETABLE SECURITIES, Gross Unrealized Losses 18us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax 10us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
Tax-Exempt Municipal Bonds [Member]    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 20,129us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
8,809us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
MARKETABLE SECURITIES, Fair Value 20,115us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
8,804us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
MARKETABLE SECURITIES, Gross Unrealized Gains 4us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
5us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
MARKETABLE SECURITIES, Gross Unrealized Losses 18us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
10us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_NontaxableMunicipalBondsMember
Variable Rate Demand Notes [Member]    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 12,144us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_VariableRateDemandObligationMember
13,600us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_VariableRateDemandObligationMember
MARKETABLE SECURITIES, Fair Value $ 12,144us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_VariableRateDemandObligationMember
$ 13,600us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_VariableRateDemandObligationMember