KADANT INC 10-K

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities Market Price of Common Stock 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 As of February 19, 2021, we had approximately 2,133 holders of record of our common stock. This does not include holdings in street or nominee name. Issuer Purchases of Equity Securities 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. We did not repurchase any shares of our common stock during 2020. 22 Table of Contents Kadant Inc. Performance Graph This performance graph compares the cumulative, five-year total shareholder return assuming an investment of $100 (and the reinvestment of dividends) in our common stock, the Russell 3000 Stock Index, and the Dow Jones U.S. Industrial Machinery TSM Index. 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. 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021 Kadant Inc. 100.00 153.13 254.10 207.19 273.00 367.47 Russell 3000 100.00 112.74 136.56 129.40 169.54 204.95 Dow Jones U.S. Industrial Machinery TSM 100.00 135.64 179.99 151.80 206.47 240.90 23 Table of Contents Kadant Inc. Item 6. Selected Financial Data 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. 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. 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. (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 Revenue (a) $ 635,028 $ 704,644 $ 633,786 $ 515,033 $ 414,126 Operating Income 81,124 87,823 88,598 61,625 46,642 Net Income Attributable to Kadant (b) 55,196 52,068 60,413 31,092 32,077 Earnings per Share: Basic $ 4.81 $ 4.63 $ 5.45 $ 2.83 $ 2.95 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 Balance Sheet Data Working Capital $ 155,132 $ 151,407 $ 123,772 $ 133,793 $ 118,437 Total Assets 927,571 939,387 725,749 761,094 470,691 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 ____________________ (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. (Cogent) in 2020, SMH in 2019, and the forest products business of NII FPG Company (NII FPG) and Unaflex, LLC (Unaflex) in 2017. (b) Includes pre-tax impairment costs of $1.9 million and pre-tax restructuring costs of $1.1 million in 2020; 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; 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; and a discrete tax provision of $10.3 million in 2017. (c) Includes additional borrowings related to the acquisitions of Cogent in 2020, SMH in 2019, and NII FPG and Unaflex in 2017. 24 Table of Contents Kadant Inc.