Document And Entity Information

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jul. 02, 2017	Aug. 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 02, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2017
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		6,965,043

Condensed Consolidated Balance Sheets

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 02, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 10,026	$ 27,034
Marketable securities	128,706	84,457
Accounts receivable, net	38,056	67,285
Inventories:
Finished goods	29,211	25,200
Work in process	83,178	66,528
Raw materials	4,511	3,675
Total inventory	116,900	95,403
Assets held for sale	5,335	58,893
Other current assets	7,028	7,423
Total current assets	306,051	340,495
PROPERTY, PLANT AND EQUIPMENT:
PROPERTY, PLANT AND EQUIPMENT	103,552	101,163
Less allowance for depreciation	55,428	51,688
PROPERTY, PLANT AND EQUIPMENT, NET	48,124	49,475
GOODWILL	11,485	11,485
INTANGIBLE ASSETS, net	4,589	4,961
NOTES RECEIVABLE	6,642	6,534
DEFERRED INCOME TAXES	4,910
OTHER ASSETS	8,138	4,644
Total assets	389,939	417,594
CURRENT LIABILITIES:
Accounts payable	31,175	39,584
Federal and state income taxes	5,579	6,273
Accrued liabilities	12,342	12,244
Liabilities held for sale	17	6,253
Total current liabilities	49,113	64,354
DEFERRED INCOME TAXES		3,004
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $1 par value: Authorized: 12,000,000 shares; Issued: 7,440,518 shares	7,441	7,441
Paid-in capital	8,650	7,913
Retained earnings	339,666	350,203
Accumulated other comprehensive loss	(24)	(47)
Stockholders' equity before treasury stock	355,733	365,510
Treasury stock, at cost	14,907	15,274
Total stockholders' equity	340,826	350,236
Total liabilities and stockholders' equity	$ 389,939	$ 417,594

Condensed Consolidated Balance Sheets (Parenthetical)

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 02, 2017	Dec. 31, 2016
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

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Jul. 02, 2017	Jul. 03, 2016
Consolidated Statements Of Comprehensive Income [Abstract]
Net sales	$ 74,561	$ 69,516	$ 147,415	$ 135,458
Cost of sales	57,001	52,349	109,729	102,243
Gross profit	17,560	17,167	37,686	33,215
Selling and general expenses	5,418	5,614	11,178	11,441
Intangibles amortization	5		372	568
Operating profit	12,137	11,553	26,136	21,206
Other income	980	188	1,930	371
Earnings from continuing operations before provision for income taxes	13,117	11,741	28,066	21,577
Provision for income taxes from continuing operations	4,176	3,805	9,152	7,131
Earnings from continuing operations	8,941	7,936	18,914	14,446
Earnings from discontinued operations, net of tax	771	338	8,953	1,039
Net earnings	$ 9,712	$ 8,274	$ 27,867	$ 15,485
Weighted average shares outstanding:
Basic and diluted	6,990	6,970	6,985	6,967
Earnings per share, basic and diluted:
From continuing operations	$ 1.28	$ 1.14	$ 2.71	$ 2.07
From discontinued operations	0.11	0.05	1.28	0.15
Net earnings per share	$ 1.39	$ 1.19	$ 3.99	$ 2.22
Other comprehensive income, net of tax:
Unrealized gain (loss) on available-for-sale securities	$ (5)	$ 13	$ 23	$ 18
Comprehensive income	$ 9,707	$ 8,287	$ 27,890	$ 15,503
Cash dividends declared and paid per common share	$ 0.00	$ 0.00	$ 5.50	$ 5.05

Consolidated Statements Of Cash Flows

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Cash flows from operating activities:
Net earnings	$ 27,867	$ 15,485
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation	3,912	5,897
Intangibles amortization	372	568
Provision for doubtful accounts	14	8
Non-cash retirement plan expense	357	374
Gain on involuntary conversion of machinery and equipment	(1,997)
Gain on disposal of property, plant and equipment	(2)
Gain on divestiture of business	(11,413)
Other	133	497
Changes in operating accounts:
Accounts receivable, net	29,060	14,094
Inventories	(21,191)	(17,822)
Other assets and current assets	(3,099)	599
Accounts payable and accrued liabilities	(9,675)	8,220
Federal and state income taxes	(8,656)	(1,416)
Net cash provided by operating activities	5,682	26,504
Cash flows from investing activities:
Marketable securities purchased	(109,465)	(27,386)
Marketable securities - maturities and sales	65,250	3,391
Proceeds from divestiture of business, net	64,033
Purchase of property, plant and equipment	(4,509)	(2,579)
Notes issued		(2,419)
Sale of property, plant and equipment	1	2
Net cash provided by (used in) investing activities	15,310	(28,991)
Cash flows from financing activities:
Dividends paid	(38,405)	(35,161)
Proceeds from sale of treasury stock	519	443
Other	(114)
Net cash used in financing activities	(38,000)	(34,718)
Net decrease in cash and cash equivalents	(17,008)	(37,205)
Cash and cash equivalents at beginning of year	27,034	56,222
Cash and cash equivalents at end of year	$ 10,026	$ 19,017

Basis Of Presentation

Basis Of Presentation	6 Months Ended
Basis Of Presentation	Jul. 02, 2017
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, 2016 is summarized from audited consolidated financial statements, but does not include all the disclosures contained therein and should be read in conjunction with the 2016 Annual Report on Form 10-K. Interim results for the period are not indicative of those for the year. On January 3, 2017, the Company and its wholly-owned subsidiary, Presto Absorbent Products, Inc. (“PAPI”), entered into an asset purchase agreement wherein substantially all PAPI assets were sold and certain liabilities were assigned to Drylock Technologies, LTD. (“Drylock”) in exchange for $68,448,000. The proceeds amount differs from the amount previously disclosed because of the customary post-closing adjustments that were finalized during the second quarter of 2017, totaling $1,448,000. The asset purchase agreement also provides for additional proceeds of $4,000,000 upon the sale of certain delayed assets, consisting of machinery and equipment that were the subject of an involuntary conversion, at a future date. As a result of this transaction, effective in the fourth quarter of 2016, the Company classified its results of operations for all periods presented to reflect its Absorbent Products business as a discontinued operation and classified the assets and liabilities of its Absorbent Products business as held for sale. See Note I for further discussion.

Basis Of Presentation (Narrative) (Details)

Basis Of Presentation (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 02, 2017	Dec. 31, 2017
Proceeds from sale	$ 68,448
Post-closing adjustments	$ 1,448
Scenario, Forecast [Member]
Proceeds from sale		$ 4,000

Reclassifications

Reclassifications	6 Months Ended
Reclassifications	Jul. 02, 2017
Reclassifications [Abstract]
Reclassifications	NOTE B – RECLASSIFICATIONS In addition to the reclassifications mentioned in Note A above, 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

Earnings Per Share	6 Months Ended
Earnings Per Share	Jul. 02, 2017
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

6 Months Ended

Jul. 02, 2017

Business Segments [Abstract]

Business Segments

NOTE D – BUSINESS SEGMENTS

In the following summary, operating profit represents earnings before other income and income taxes. The Company's segments operate discretely from each other with no 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		Assets Held for Sale		Total
Quarter ended July 2, 2017
External net sales	$	16,901	$	57,660	$		$	74,561
Gross profit		1,528		16,032				17,560
Operating profit (loss)		(949)		13,086				12,137
Total assets		222,165		162,439		5,335		389,939
Depreciation and amortization		308		1,870				2,178
Capital expenditures		463		1,372				1,835

Quarter ended July 3, 2016
External net sales	$	19,280	$	50,236	$		$	69,516
Gross profit		3,269		13,898				17,167
Operating profit		699		10,854				11,553
Total assets		161,310		155,032		60,145		376,487
Depreciation and amortization		257		1,776				2,033
Capital expenditures		453		1,090				1,543



	(in thousands)
	Housewares / Small Appliances		Defense Products		Assets Held for Sale		Total
Six Months ended July 2, 2017
External net sales	$	36,948	$	110,467	$		$	147,415
Gross profit		4,697		32,989				37,686
Operating profit (loss)		(402)		26,538				26,136
Total assets		222,165		162,439		5,335		389,939
Depreciation and amortization		611		3,624				4,235
Capital expenditures		923		1,589				2,512

Six Months ended July 3, 2016
External net sales	$	40,676	$	94,782	$		$	135,458
Gross profit		7,556		25,659				33,215
Operating profit		1,913		19,293				21,206
Total assets		161,310		155,032		60,145		376,487
Depreciation and amortization		498		3,066				3,564
Capital expenditures		892		1,123				2,015

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Name Accounting Standards Codification
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+ Details

Business Segments (Tables)

6 Months Ended

Jul. 02, 2017

Business Segments [Abstract]

Summary Of Business Segments Information



	(in thousands)
	Housewares / Small Appliances		Defense Products		Assets Held for Sale		Total
Quarter ended July 2, 2017
External net sales	$	16,901	$	57,660	$		$	74,561
Gross profit		1,528		16,032				17,560
Operating profit (loss)		(949)		13,086				12,137
Total assets		222,165		162,439		5,335		389,939
Depreciation and amortization		308		1,870				2,178
Capital expenditures		463		1,372				1,835

Quarter ended July 3, 2016
External net sales	$	19,280	$	50,236	$		$	69,516
Gross profit		3,269		13,898				17,167
Operating profit		699		10,854				11,553
Total assets		161,310		155,032		60,145		376,487
Depreciation and amortization		257		1,776				2,033
Capital expenditures		453		1,090				1,543



	(in thousands)
	Housewares / Small Appliances		Defense Products		Assets Held for Sale		Total
Six Months ended July 2, 2017
External net sales	$	36,948	$	110,467	$		$	147,415
Gross profit		4,697		32,989				37,686
Operating profit (loss)		(402)		26,538				26,136
Total assets		222,165		162,439		5,335		389,939
Depreciation and amortization		611		3,624				4,235
Capital expenditures		923		1,589				2,512

Six Months ended July 3, 2016
External net sales	$	40,676	$	94,782	$		$	135,458
Gross profit		7,556		25,659				33,215
Operating profit		1,913		19,293				21,206
Total assets		161,310		155,032		60,145		376,487
Depreciation and amortization		498		3,066				3,564
Capital expenditures		892		1,123				2,015

Business Segments (Schedule Of Segment Information) (Details)

Business Segments (Schedule Of Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Jul. 02, 2017	Jul. 03, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
External net sales	$ 74,561	$ 69,516	$ 147,415	$ 135,458
Gross profit	17,560	17,167	37,686	33,215
Operating profit (loss)	12,137	11,553	26,136	21,206
Total assets	389,939	376,487	389,939	376,487	$ 417,594
Depreciation and amortization	2,178	2,033	4,235	3,564
Capital expenditures	1,835	1,543	2,512	2,015
Housewares/ Small Appliances [Member]
Segment Reporting Information [Line Items]
External net sales	16,901	19,280	36,948	40,676
Gross profit	1,528	3,269	4,697	7,556
Operating profit (loss)	(949)	699	(402)	1,913
Total assets	222,165	161,310	222,165	161,310
Depreciation and amortization	308	257	611	498
Capital expenditures	463	453	923	892
Defense Products [Member]
Segment Reporting Information [Line Items]
External net sales	57,660	50,236	110,467	94,782
Gross profit	16,032	13,898	32,989	25,659
Operating profit (loss)	13,086	10,854	26,538	19,293
Total assets	162,439	155,032	162,439	155,032
Depreciation and amortization	1,870	1,776	3,624	3,066
Capital expenditures	1,372	1,090	1,589	1,123
Discontinued Operations Held-for-sale [Member]
Segment Reporting Information [Line Items]
Total assets	$ 5,335	$ 60,145	$ 5,335	$ 60,145

Fair Value Of Financial Instruments

Fair Value Of Financial Instruments	6 Months Ended
Fair Value Of Financial Instruments	Jul. 02, 2017
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 amounts for cash and cash equivalents, accounts receivable, notes receivable, accounts payable, and accrued liabilities approximate fair value due to the immediate or short-term maturity of these financial instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Cash, Cash Equivalents And Marketable Securities

6 Months Ended

Jul. 02, 2017

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 estimated fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity. Highly liquid, tax-exempt variable rate demand notes with put options exercisable in three months or less are classified as marketable securities.

At July 2, 2017 and December 31, 2016, 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 six months ended July 2, 2017.



	(In Thousands)
	MARKETABLE SECURITIES
	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
July 2, 2017
Tax-exempt Municipal Bonds	$	25,020	$	24,983	$	9	$	46
Variable Rate Demand Notes		103,723		103,723		-		-
Total Marketable Securities	$	128,743	$	128,706	$	9	$	46

December 31, 2016
Tax-exempt Municipal Bonds	$	38,223	$	38,151	$	1	$	73
Variable Rate Demand Notes		46,306		46,306		-		-
Total Marketable Securities	$	84,529	$	84,457	$	1	$	73

Proceeds from maturities and sales of available-for-sale securities totaled $38,415,000 and $2,128,000 for the three month periods ended July 2, 2017 and July 3, 2016, respectively, and totaled $65,250,000 and $3,391,000 for the six month periods then ended, respectively. There were no gross gains or losses related to sales of marketable securities during the same periods. Net unrealized gains (losses) included in other comprehensive income were $(8,000) and $19,000 before taxes for the three month periods ended July 2, 2017 and July 3, 2016, respectively, and were $34,000 and $28,000 before taxes for the six 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 July 2, 2017 are as follows: $20,218,000 within one year; $16,324,000 beyond one year to five years; $4,764,000 beyond five years to ten years, and $87,400,000 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)

6 Months Ended

Jul. 02, 2017

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
July 2, 2017
Tax-exempt Municipal Bonds	$	25,020	$	24,983	$	9	$	46
Variable Rate Demand Notes		103,723		103,723		-		-
Total Marketable Securities	$	128,743	$	128,706	$	9	$	46

December 31, 2016
Tax-exempt Municipal Bonds	$	38,223	$	38,151	$	1	$	73
Variable Rate Demand Notes		46,306		46,306		-		-
Total Marketable Securities	$	84,529	$	84,457	$	1	$	73

Cash, Cash Equivalents And Marketable Securities (Narrative) (Details)

Cash, Cash Equivalents And Marketable Securities (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Jul. 02, 2017	Jul. 03, 2016
Cash, Cash Equivalents And Marketable Securities [Line Items]
Transfers into Level 2	$ 0		$ 0
Transfers out of Level 2	0		0
Proceeds from sales of available-for-sale securities	38,415,000	$ 2,128,000	65,250,000	$ 3,391,000
Gross gains or losses related to sales of marketable securities	0	0	0	0
Net unrealized gains (losses) included in accumulated other comprehensive income, before taxes	(8,000)	19,000	34,000	28,000
Contractual maturities of marketable securities within 1 year	20,218,000		20,218,000
Contractual maturities of marketable securities, years 2-5	16,324,000		16,324,000
Contractual maturities of marketable securities, years 6-10	4,764,000		4,764,000
Contractual maturities of marketable securities, after 10 years	87,400,000		$ 87,400,000
Marketable securities liquidation period			7 days
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Cash, Cash Equivalents And Marketable Securities [Line Items]
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)

Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	$ 128,743	$ 84,529
MARKETABLE SECURITIES, Fair Value	128,706	84,457
MARKETABLE SECURITIES, Gross Unrealized Gains	9	1
MARKETABLE SECURITIES, Gross Unrealized Losses	46	73
Tax-Exempt Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	25,020	38,223
MARKETABLE SECURITIES, Fair Value	24,983	38,151
MARKETABLE SECURITIES, Gross Unrealized Gains	9	1
MARKETABLE SECURITIES, Gross Unrealized Losses	46	73
Variable Rate Demand Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
MARKETABLE SECURITIES, Amortized Cost	103,723	46,306
MARKETABLE SECURITIES, Fair Value	$ 103,723	$ 46,306

Other Assets

Other Assets	6 Months Ended
Other Assets	Jul. 02, 2017
Other Assets [Abstract]
Other Assets	NOTE G – 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 July 2, 2017 and December 31, 2016, $14,068,000 and $10,974,000 of such prepayments, respectively, remained unused and outstanding. At July 2, 2017 and December 31, 2016, $5,930,000 and $6,330,000, respectively, of these amounts were 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.

Other Assets (Narrative) (Details)

Other Assets (Narrative) (Details) - Housewares/ Small Appliances [Member] - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2017	Dec. 31, 2016
Expected prepayment utilization period	3 years
Other Assets [Member]
Materials Prepayments	$ 14,068	$ 10,974
Other Current Assets [Member]
Materials Prepayments	$ 5,930	$ 6,330

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
Commitments And Contingencies	Jul. 02, 2017
Commitments And Contingencies [Abstract]
Commitments And Contingencies	NOTE H – 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.

Discontinued Operations

6 Months Ended

Jul. 02, 2017

Discontinued Operations [Abstract]

Discontinued Operations

NOTE I – DISCONTINUED OPERATIONS

On January 3, 2017, the Company and its wholly-owned subsidiary, Presto Absorbent Products, Inc. (“PAPI”), entered into an asset purchase agreement wherein substantially all PAPI assets were sold and certain liabilities were assigned to Drylock Technologies, LTD. (“Drylock”) in exchange for $68,448,000. The proceeds amount differs from the amount previously disclosed because of the customary post-closing adjustments that were finalized during the second quarter of 2017, totaling $1,448,000. The asset purchase agreement also provides for additional proceeds of $4,000,000 upon the sale of certain delayed assets, consisting of machinery and equipment that were the subject of an involuntary conversion, at a future date. As a result of this transaction, effective in the fourth quarter of 2016, the Company classified its results of operations for all periods presented to reflect its Absorbent Products business as a discontinued operation and classified the assets and liabilities of its Absorbent Products business as held for sale. The Company’s pre-tax gain on sale of $11,413,000, net of one-time transaction costs, was recorded in the first six months of 2017 within earnings from discontinued operations. This amount differs from the gain previously reported as a result of the post-closing adjustments mentioned above that were finalized in the second quarter of 2017.

The following table summarizes the results of the Absorbent Products business within discontinued operations for each of the periods presented:



	Three Months Ended				Six Months Ended
(in thousands) (unaudited)	July 2, 2017		July 3, 2016		July 2, 2017		July 3, 2016
Net sales	$	-	$	18,469	$	421	$	39,024
Cost of sales		(17)		(17,220)		(485)		(36,042)
Selling and general expenses		2		(738)		(24)		(1,414)
Gain on divestiture, net		709		-		11,413		-
Other income		430		(3)		2,078		(3)
Earnings from discontinued operations before provision for income taxes		1,124		508		13,403		1,565
Provision for income taxes from discontinued operations		353		170		4,450		526
Earnings from discontinued operations, net of tax	$	771	$	338	$	8,953	$	1,039

The following table summarizes the major classes of assets and liabilities of the Absorbent Products business held for sale for each of the periods presented:




(in thousands)	July 2, 2017 (Unaudited)		December 31, 2016
Accounts receivable, net	$	2,351	$	13,781
Inventories		-		10,747
Property, plant and equipment, net		2,984		34,365
Assets held for sale	$	5,335	$	58,893

Accounts payable	$	17	$	5,245
Accrued liabilities		-		1,008
Liabilities held for sale	$	17	$	6,253

The Consolidated Statements of Cash Flows do not present the cash flows from discontinued operations separately from cash flows from continuing operations. Cash provided by (used in) operating activities from discontinued operations was $(5,625,000) and $2,507,000 for the six months ended July 2, 2017 and July 3, 2016, respectively. Cash provided by (used in) investing activities related to discontinued operations was $62,036,000 and $(487,000) for the six months ended July 2, 2017 and July 3, 2016, respectively.

In connection with the asset purchase agreement discussed above, the Company entered into a 10-year lease agreement with Drylock for a portion of its manufacturing and warehouse facilities. The lease agreement provided for total annual payments of $1,288,000 initially. It also provides Drylock an option for early termination of the lease after the initial five years and an option to modify the space subject to the agreement. Drylock elected the latter option as of June 30, 2017. The agreement allows as well for adjustments to the rental payments based on certain price indices. The Company has also entered into a transition services agreement with Drylock which is expected to continue through the fourth quarter of 2017.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Discontinued Operations (Tables)

6 Months Ended

Jul. 02, 2017

Discontinued Operations [Abstract]

Results of discontinued operations and schedule of major classes of assets and liabilities

The following table summarizes the results of the Absorbent Products business within discontinued operations for each of the periods presented:



	Three Months Ended				Six Months Ended
(in thousands) (unaudited)	July 2, 2017		July 3, 2016		July 2, 2017		July 3, 2016
Net sales	$	-	$	18,469	$	421	$	39,024
Cost of sales		(17)		(17,220)		(485)		(36,042)
Selling and general expenses		2		(738)		(24)		(1,414)
Gain on divestiture, net		709		-		11,413		-
Other income		430		(3)		2,078		(3)
Earnings from discontinued operations before provision for income taxes		1,124		508		13,403		1,565
Provision for income taxes from discontinued operations		353		170		4,450		526
Earnings from discontinued operations, net of tax	$	771	$	338	$	8,953	$	1,039

The following table summarizes the major classes of assets and liabilities of the Absorbent Products business held for sale for each of the periods presented:




(in thousands)	July 2, 2017 (Unaudited)		December 31, 2016
Accounts receivable, net	$	2,351	$	13,781
Inventories		-		10,747
Property, plant and equipment, net		2,984		34,365
Assets held for sale	$	5,335	$	58,893

Accounts payable	$	17	$	5,245
Accrued liabilities		-		1,008
Liabilities held for sale	$	17	$	6,253

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Discontinued Operations (Narrative) (Details)

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jul. 02, 2017	Jul. 02, 2017	Jul. 03, 2016	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale		$ 68,448
Post-closing adjustments		1,448
Gain on divestiture of business, net		11,413
Cash provided by (used in) operating activities of discontinued operations		(5,625)	$ 2,507
Cash provided by (used in) investing activities related to discontinued operations		$ 62,036	$ (487)
Term of lease		10 years
Early termination term		5 years
Scenario, Forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale				$ 4,000
Discontinued Operations Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on divestiture of business, net	$ 709	$ 11,413
Discontinued Operations Held-for-sale [Member] \| Scenario, Forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total annual lease payments				$ 1,288

Discontinued Operations (Summary Of Results) (Details)

Discontinued Operations (Summary Of Results) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Jul. 02, 2017	Jul. 03, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 74,561	$ 69,516	$ 147,415	$ 135,458
Cost of sales	(57,001)	(52,349)	(109,729)	(102,243)
Selling and general expenses	(5,418)	(5,614)	(11,178)	(11,441)
Gain on divestiture of business, net			11,413
Other income	980	188	1,930	371
Earnings from discontinued operations, net of tax	771	338	8,953	1,039
Discontinued Operations Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales		18,469	421	39,024
Cost of sales	(17)	(17,220)	(485)	(36,042)
Selling and general expenses	2	(738)	(24)	(1,414)
Gain on divestiture of business, net	709		11,413
Other income	430	(3)	2,078	(3)
Earnings from discontinued operations before provision for income taxes	1,124	508	13,403	1,565
Provision for income taxes from discontinued operations	353	170	4,450	526
Earnings from discontinued operations, net of tax	$ 771	$ 338	$ 8,953	$ 1,039

Discontinued Operations (Summary of Major Classes of Assets and Liabilities) (Details)

Discontinued Operations (Summary of Major Classes of Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	$ 38,056	$ 67,285
Inventories	116,900	95,403
Property, Plant and equipment, net	48,124	49,475
Accounts payable	31,175	39,584
Accrued liabilities	12,342	12,244
Discontinued Operations Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	2,351	13,781
Inventories		10,747
Property, Plant and equipment, net	2,984	34,365
Assets held for sale	5,335	58,893
Accounts payable	17	5,245
Accrued liabilities		1,008
Liabilities held for sale	$ 17	$ 6,253