Eastern Company (The) (EML) financial statements (2022 and earlier)

Company profile

Business Address 112 BRIDGE ST
NAUGATUCK, CT 06770
State of Incorp. CT
Fiscal Year End December 31
SIC 342 - Cutlery, Handtools, And General Hardware (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,16816,13118,03113,92622,27522,72517,815
Cash and cash equivalents6,16816,10217,99713,92622,27522,72517,815
Short-term investments 2934    
Receivables44,179(147)37,94231,41927,12018,13617,502
Inventory, net of allowances, customer advances and progress billings62,86253,11254,59952,77347,26934,03036,842
Inventory62,86253,11254,59952,77347,26934,03036,842
Assets held-for-sale, not part of disposal group3,522      
Other undisclosed current assets6,94442,6394,3443,0723,4012,8053,108
Total current assets:123,675111,736114,915101,190100,06677,69775,268
Noncurrent Assets
Operating lease, right-of-use asset11,13912,76812,342
Property, plant and equipment28,30439,95242,02329,85329,19226,16626,801
Intangible assets, net (including goodwill)100,485109,395111,38248,808   
Goodwill72,21276,89579,51834,840   
Intangible assets, net (excluding goodwill)28,27332,50031,86413,968   
Other noncurrent assets    47,20020,33619,669
Other undisclosed noncurrent assets2,7271,677 1,396   
Total noncurrent assets:142,654163,793165,74780,05876,39346,50146,470
TOTAL ASSETS:266,329275,528280,663181,248176,458124,198121,739
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities38,81831,30526,74425,75322,69511,97313,734
Accounts payable29,63423,50819,96118,49814,7127,0489,109
Accrued liabilities4,8084,1222,9683,0963,6061,8131,751
Employee-related liabilities4,3763,6753,8154,1604,3763,1122,874
Debt7,5006,4385,1882,3256,5508931,429
Business combination, contingent consideration, liability   2,0702,070  
Other undisclosed current liabilities3,2462,924     
Total current liabilities:49,56440,66631,93130,14831,31512,86615,163
Noncurrent Liabilities
Long-term debt and lease obligation72,45392,139105,92026,35028,6758931,786
Long-term debt, excluding current maturities63,81482,25693,57826,35028,6758931,786
Operating lease, liability8,6399,88312,342
Liabilities, other than long-term debt28,55835,51837,37427,88129,53827,97225,385
Deferred tax liabilities, net1,5161,724  
Deferred income tax liabilities  5,270
Liability, pension and other postretirement and postemployment benefits27,89034,37429,63926,01127,45627,68325,098
Other liabilities6681,1442,465354359289287
Other undisclosed noncurrent liabilities1,1522,899     
Total noncurrent liabilities:102,163130,556143,29454,23158,21328,86527,171
Total liabilities:151,727171,222175,22684,37989,52841,73142,334
Stockholders' equity
Stockholders' equity attributable to parent, including:114,602104,306105,43796,86986,93182,46879,405
Common stock32,62031,50130,65229,99529,50129,14728,997
Treasury stock, value(20,908)20,538(20,169)(20,169)(19,106)(19,106)(19,106)
Accumulated other comprehensive loss(26,533)(29,497)(25,235)(22,629)(21,387)(23,205)(21,083)
Retained earnings (accumulated deficit)(129,423)122,840120,189109,67197,92295,63190,597
Other undisclosed stockholders' equity attributable to parent258,845(41,076)     
Total stockholders' equity:114,602104,306105,43796,86986,93182,46879,405
TOTAL LIABILITIES AND EQUITY:266,329275,528280,663181,248176,458124,198121,739

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues246,523240,403251,743234,275204,240137,608144,568
Revenue, net204,240137,608144,568
Cost of revenue
(Cost of Goods and Services Sold)
(189,757)(186,745)(189,890)(175,550)(154,189)(103,315)(112,187)
Gross profit:56,76653,65861,85358,72550,05134,29332,381
Operating expenses(39,319)(43,546)(41,744)(40,866)(32,151)(23,157)(24,353)
Other undisclosed operating loss (3,112)(2,651) (5,623)  
Operating income:17,4477,00017,45817,85912,27711,1368,028
Nonoperating income3,3711,770606933155209179
Investment income, nonoperating 2,149     
Interest and debt expense(1,748)(2,745)(1,858)(1,202)(977)(122)(185)
Income from continuing operations before income taxes:19,0716,02616,20617,59011,45511,2238,021
Income tax expense(2,104)(620)(2,940)(3,084)(6,410)(3,438)(2,294)
Net income:16,9675,40613,26614,5065,0457,7855,727
Other undisclosed net loss attributable to parent(7,618)      
Net income available to common stockholders, diluted:9,3495,40613,26614,5065,0457,7855,727

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:16,9675,40613,26614,5065,0457,7855,727
Other comprehensive income (loss)2,964(4,262)66457855(543)1,899
Comprehensive income:19,9311,14313,93015,0845,1017,2427,626
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,618) (3,270)(1,820)1,763(1,578)(451)
Comprehensive income, net of tax, attributable to parent:12,3131,14310,66013,2646,8635,6647,176

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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