1 unchanged sentence
Market Price of Common Stock
−Removed: Our common stock trades on the New York Stock Exchange under the symbol "KAI".
−Removed: The closing market price on the New York Stock Exchange for our common stock on February 14, 2020 was $100.24 per share.
+Added: Our common stock trades on the New York Stock Exchange under the symbol "KAI." The closing market price on the New York Stock Exchange for our common stock on February 19, 2021 was $155.85 per share.
Holders of Common Stock
2 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: We did not repurchase any shares of our common stock during the fourth quarter of 2019 .
+Added: On May 13, 2020, our board of directors approved the repurchase of up to $20 million of our equity securities during the period from May 13, 2020 to May 13, 2021.
+Added: We did not repurchase any shares of our common stock during 2020.
Performance Graph
2 unchanged sentences
Our common stock trades on the New York Stock Exchange under the ticker symbol "KAI." Because our fiscal year ends on a Saturday, the graph values are calculated using the last trading day prior to the end of our fiscal year.
+Added: 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021
+Added: 100.00 153.13 254.10 207.19 273.00 367.47
+Added: Russell 3000 100.00 112.74 136.56 129.40 169.54 204.95
Dow Jones U.S.
2 unchanged sentences
The following selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” our consolidated financial statements and related notes, and other financial data included elsewhere in this Annual Report on Form 10-K.
−Removed: The consolidated statements of income data for the fiscal years 2019 , 2018 , and 2017 and the consolidated balance sheet data at fiscal year-end 2019 and 2018 are derived from our audited consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K.
−Removed: The consolidated statements of income data for fiscal years 2016 and 2015 and the consolidated balance sheet data at fiscal year-end 2017 , 2016 , and 2015 are derived from our audited consolidated financial statements that are not included in this Annual Report on Form 10-K.
−Removed: (In thousands, except per share amounts)
−Removed: December 28, 2019
−Removed: December 29, 2018
−Removed: December 30, 2017
−Removed: December 31, 2016
−Removed: January 2, 2016
+Added: The consolidated statement of income data for the fiscal years 2020, 2019, and 2018 and the consolidated balance sheet data at fiscal year-end 2020 and 2019 are derived from our audited consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K.
+Added: The consolidated statement of income data for fiscal years 2017 and 2016 and the consolidated balance sheet data at fiscal year-end 2018, 2017, and 2016 are derived from our audited consolidated financial statements that are not included in this Annual Report on Form 10-K.
+Added: (In thousands, except per share amounts) January 2, 2021 December 28, 2019 December 29, 2018 December 30, 2017 December 31, 2016
Statement of Income Data
−Removed: Operating Income (b)
−Removed: Amounts Attributable to Kadant:
−Removed: Income from Continuing Operations (c)
−Removed: Income from Discontinued Operation
−Removed: Net Income (c)
−Removed: Earnings per Share for Continuing Operations:
+Added: Revenue (a) $ 635,028 $ 704,644 $ 633,786 $ 515,033 $ 414,126
+Added: Operating Income 81,124 87,823 88,598 61,625 46,642
+Added: Net Income Attributable to Kadant (b) 55,196 52,068 60,413 31,092 32,077
Earnings per Share:
+Added: Basic $ 4.81 $ 4.63 $ 5.45 $ 2.83 $ 2.95
+Added: Diluted $ 4.77 $ 4.54 $ 5.30 $ 2.75 $ 2.88
Cash Dividends Declared per Common Share $ 0.96 $ 0.92 $ 0.88 $ 0.84 $ 0.76
1 unchanged sentence
Working Capital $ 155,132 $ 151,407 $ 123,772 $ 133,793 $ 118,437
−Removed: Long-Term Obligations (d)
+Added: Total Assets 927,571 939,387 725,749 761,094 470,691
+Added: Long-Term Obligations (c) 232,000 298,174 174,153 241,384 65,768
Stockholders' Equity 496,905 427,079 374,571 332,504 284,279
____________________
−Removed: Includes incremental revenues of $83.4 million in 2019, $64.6 million in 2018, $69.4 million in 2017, and $40.8 million in 2016 primarily from our acquisitions of SMH in 2019, the forest products business of NII FPG Company (NII FPG) and Unaflex, LLC (Unaflex) in 2017, and PAALGROUP (PAAL) in 2016.
−Removed: Fiscal years 2017 and 2016 have been restated to conform to the current period presentation as a result of the adoption of Accounting Standards Update (ASU) No.
−Removed: 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost .
−Removed: Fiscal year 2015 was not restated as the amount was not material.
−Removed: Includes pre-tax impairment and restructuring costs of $2.5 million in 2019 related to our Wood Processing Systems segment's timber-harvesting product line and pre-tax restructuring costs of $1.7 million in 2018 related to our Papermaking Systems segment's stock-preparation product line.
−Removed: Includes a pre-tax settlement loss of $5.9 million in 2019 and a pre-tax curtailment loss of $1.4 million in 2018.
−Removed: Includes a discrete tax benefit of $3.3 million in 2019 related to the exercise of employee stock options and $3.2 million in 2018 primarily related to the reversal of tax reserves associated with uncertain tax positions and the 2017 Tax Act, including amounts associated with the repatriation of foreign earnings.
−Removed: Includes a discrete tax expense of $10.3 million in 2017 primarily related to the 2017 Tax Act.
−Removed: Includes additional borrowings related to the acquisitions of SMH in 2019, NII FPG and Unaflex in 2017, and PAAL in 2016.
+Added: (a) Includes revenue of $1.6 million in 2020, $83.4 million in 2019, $64.6 million in 2018, and $69.4 million in 2017 from our acquisitions of Cogent Industrial Technologies Ltd.
+Added: (Cogent) in 2020, SMH in 2019, and the forest products business of NII FPG Company (NII FPG) and Unaflex, LLC (Unaflex) in 2017.
+Added: (b) Includes pre-tax impairment costs of $1.9 million and pre-tax restructuring costs of $1.1 million in 2020;
+Added: pre-tax impairment and restructuring costs of $2.5 million, pre-tax defined benefit plan settlement losses of $5.9 million, and a discrete tax benefit of $3.3 million in 2019;
+Added: pre-tax restructuring costs of $1.7 million, pre-tax curtailment losses of $1.4 million and a discrete tax benefit of $3.2 million in 2018;
+Added: and a discrete tax provision of $10.3 million in 2017.
+Added: (c) Includes additional borrowings related to the acquisitions of Cogent in 2020, SMH in 2019, and NII FPG and Unaflex in 2017.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.