$HNNA
HENNESSY ADVISORS INC

2020 Q3 Form 10-K Financial Statement

#000119312520307086 Filed on December 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 2019 Q3
Revenue $7.370M $33.39M $10.17M
YoY Change -27.53% -21.83% -22.95%
Cost Of Revenue $1.680M $7.570M $2.250M
YoY Change -25.33% -17.98% -14.12%
Gross Profit $5.690M $25.82M $7.930M
YoY Change -28.25% -22.9% -25.12%
Gross Profit Margin 77.2% 77.33% 77.97%
Selling, General & Admin $3.320M $14.26M $4.350M
YoY Change -23.68% -17.29% -10.68%
% of Gross Profit 58.35% 55.23% 54.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $239.0K $60.00K
YoY Change 0.0% 6.22% 0.0%
% of Gross Profit 1.05% 0.93% 0.76%
Operating Expenses $3.380M $22.07M $4.400M
YoY Change -23.18% -17.32% -10.75%
Operating Profit $2.310M $11.32M $3.530M
YoY Change -34.56% -29.35% -37.63%
Interest Expense $0.00 $447.0K -$220.0K
YoY Change -100.0% -58.76% -29.03%
% of Operating Profit 0.0% 3.95% -6.23%
Other Income/Expense, Net $0.00 $90.00K $80.00K
YoY Change -100.0% -73.53% 14.29%
Pretax Income $2.310M $10.96M $3.380M
YoY Change -31.66% -28.24% -37.52%
Income Tax $840.0K $3.120M $980.0K
% Of Pretax Income 36.36% 28.46% 28.99%
Net Earnings $1.470M $7.841M $2.410M
YoY Change -39.0% -28.92% -34.15%
Net Earnings / Revenue 19.95% 23.48% 23.7%
Basic Earnings Per Share $1.07
Diluted Earnings Per Share $201.4K $1.06 $320.1K
COMMON SHARES
Basic Shares Outstanding 7.264M 7.352M 7.499M
Diluted Shares Outstanding 7.379M

Balance Sheet

Concept 2020 Q3 2020 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $10.00M $24.70M
YoY Change -59.51% -59.51% -2.76%
Cash & Equivalents $9.955M $10.00M $24.69M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% -14.29%
Inventory
Prepaid Expenses $637.0K $633.0K
Receivables $2.403M $2.400M $3.291M
Other Receivables $378.0K $400.0K $392.0K
Total Short-Term Assets $13.38M $13.40M $29.01M
YoY Change -53.87% -53.79% -5.63%
LONG-TERM ASSETS
Property, Plant & Equipment $294.0K $600.0K $361.0K
YoY Change -18.56% 50.0% -5.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.0K $200.0K $192.0K
YoY Change -0.52% 0.0% 0.52%
Total Long-Term Assets $81.40M $81.40M $81.20M
YoY Change 0.26% 0.25% 3.12%
TOTAL ASSETS
Total Short-Term Assets $13.38M $13.40M $29.01M
Total Long-Term Assets $81.40M $81.40M $81.20M
Total Assets $94.79M $94.80M $110.2M
YoY Change -13.99% -13.97% 0.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.500M
YoY Change -22.54%
Accrued Expenses $4.100M $4.100M $700.0K
YoY Change 485.71% 485.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $4.327M
YoY Change -100.0% -100.0% 2.34%
Total Short-Term Liabilities $5.092M $5.100M $11.36M
YoY Change -55.19% -55.26% -5.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $13.05M
YoY Change -100.0% -100.0% -25.44%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $13.05M
YoY Change -100.0% -100.0% -25.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.092M $5.100M $11.36M
Total Long-Term Liabilities $0.00 $0.00 $13.05M
Total Liabilities $16.61M $16.60M $34.68M
YoY Change -52.11% -52.16% -9.92%
SHAREHOLDERS EQUITY
Retained Earnings $59.47M $57.86M
YoY Change 2.8% 6.75%
Common Stock $18.71M $17.67M
YoY Change 5.84% 5.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $78.18M $78.20M $75.53M
YoY Change
Total Liabilities & Shareholders Equity $94.79M $94.80M $110.2M
YoY Change -13.99% -13.97% 0.66%

Cashflow Statement

Concept 2020 Q3 2020 2019 Q3
OPERATING ACTIVITIES
Net Income $1.470M $7.841M $2.410M
YoY Change -39.0% -28.92% -34.15%
Depreciation, Depletion And Amortization $60.00K $239.0K $60.00K
YoY Change 0.0% 6.22% 0.0%
Cash From Operating Activities $2.610M $10.62M $4.170M
YoY Change -37.41% -26.19% -39.3%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K $172.0K -$20.00K
YoY Change 250.0% -15.69% -90.48%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$70.00K -$882.0K -$20.00K
YoY Change 250.0% -55.32% -90.48%
FINANCING ACTIVITIES
Cash Dividend Paid $3.967M
YoY Change 12.09%
Common Stock Issuance & Retirement, Net $2.714M
YoY Change -42.86%
Debt Paid & Issued, Net $17.50M
YoY Change 300.0%
Cash From Financing Activities -1.290M -24.47M -3.210M
YoY Change -59.81% 86.45% 33.2%
NET CHANGE
Cash From Operating Activities 2.610M 10.62M 4.170M
Cash From Investing Activities -70.00K -882.0K -20.00K
Cash From Financing Activities -1.290M -24.47M -3.210M
Net Change In Cash 1.250M -14.73M 940.0K
YoY Change 32.98% 1980.79% -77.88%
FREE CASH FLOW
Cash From Operating Activities $2.610M $10.62M $4.170M
Capital Expenditures -$70.00K $172.0K -$20.00K
Free Cash Flow $2.680M $10.45M $4.190M
YoY Change -36.04% -26.34% -40.82%

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EntityRegistrantName
HENNESSY ADVISORS INC
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<table border="0" cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="width:4%;">&#160;</td><td style="text-align:left;;vertical-align:top;;width:4%;">(j)</td><td style="text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Use of Estimates </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q3 hnna Deposit In Excess Of Insured Amount
DepositInExcessOfInsuredAmount
3800000
CY2019Q3 hnna Business Combination Accrued Consideration Payable Current
BusinessCombinationAccruedConsiderationPayableCurrent
710000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
276000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
330000
CY2020 hnna Increase Decrease In Right Of Use Asset And Operating Lease Liability
IncreaseDecreaseInRightOfUseAssetAndOperatingLeaseLiability
62000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9M18D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0228
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
443140
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
340000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
330000
CY2020Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2571000
CY2019Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3888000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
552000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
730000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
690000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
920000
CY2020 dei Trading Symbol
TradingSymbol
HNNA
CY2020 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2020 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2020Q1 dei Entity Public Float
EntityPublicFloat
31480717
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.013
CY2020 hnna Effective Income Tax Rate Reconciliation Permanent And Other Differences
EffectiveIncomeTaxRateReconciliationPermanentAndOtherDifferences
0.002
CY2019 hnna Effective Income Tax Rate Reconciliation Permanent And Other Differences
EffectiveIncomeTaxRateReconciliationPermanentAndOtherDifferences
0.002
CY2020 hnna Effective Income Tax Rate Reconciliation Deferred Tax Liability Revaluation Adjustment
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0.014
CY2019 hnna Effective Income Tax Rate Reconciliation Deferred Tax Liability Revaluation Adjustment
EffectiveIncomeTaxRateReconciliationDeferredTaxLiabilityRevaluationAdjustment
0.004
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.019
CY2020 hnna Effective Income Tax Rate Reconciliation Amendment Of Prior Period Tax Return
EffectiveIncomeTaxRateReconciliationAmendmentOfPriorPeriodTaxReturn
-0.015
CY2019 hnna Effective Income Tax Rate Reconciliation Amendment Of Prior Period Tax Return
EffectiveIncomeTaxRateReconciliationAmendmentOfPriorPeriodTaxReturn
-0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.016
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
26234
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
13776
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2216000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
724000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2940000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1049000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
255000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1304000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.043
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.004
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.285
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
47000
CY2019Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
81000
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13000
CY2019Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
14000
CY2020Q3 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
245000
CY2019Q3 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
200000
CY2020Q3 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
7000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3678411
CY2020 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
22
CY2020Q3 hnna Trading Securities Amortized Cost
TradingSecuritiesAmortizedCost
4000
CY2019Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
42000
CY2020Q3 hnna Deferred Tax Liabilities Management Contracts
DeferredTaxLiabilitiesManagementContracts
11793000
CY2020 us-gaap Trading Securities Unrealized Holding Gain
TradingSecuritiesUnrealizedHoldingGain
23000
CY2019Q3 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
7000
CY2020Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
312000
CY2019Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
302000
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7000
CY2019Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7000
CY2020Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
305000
CY2019Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
295000
CY2020Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
28000
CY2019Q3 hnna Deferred Tax Liabilities Management Contracts
DeferredTaxLiabilitiesManagementContracts
10522000
CY2020Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
11821000
CY2019Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
10564000
CY2020Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
11516000
CY2019Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
10269000
CY2019 hnna Business Combination Accrued Consideration Payable
BusinessCombinationAccruedConsiderationPayable
710000
CY2020 us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
18000
CY2018 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
17
CY2017 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
16
CY2019 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
19
CY2020Q3 us-gaap Trading Securities Cost
TradingSecuritiesCost
9000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1618000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1379000
CY2020Q3 hnna Number Of Mutual Funds
NumberOfMutualFunds
30
CY2020 dei Entity File Number
EntityFileNumber
001-36423
CY2020Q3 hnna Management Contracts Impairment Amount
ManagementContractsImpairmentAmount
0
CY2019Q3 hnna Management Contracts Impairment Amount
ManagementContractsImpairmentAmount
0
CY2020 hnna Maximum Aggregate Fair Market Value Of Options Granted To Individual
MaximumAggregateFairMarketValueOfOptionsGrantedToIndividual
100000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1912000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1740000
CY2019Q3 hnna Trading Securities Amortized Cost
TradingSecuritiesAmortizedCost
4000
CY2019 us-gaap Trading Securities Unrealized Holding Gain
TradingSecuritiesUnrealizedHoldingGain
22000
CY2019 us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
17000
CY2019Q3 us-gaap Trading Securities Cost
TradingSecuritiesCost
9000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
more than 50% of the outstanding shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.50
CY2020 dei Document Transition Report
DocumentTransitionReport
false
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2020Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
500000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
800000
CY2016 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
11
CY2020 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
68-0176227
CY2020 dei Entity Address Address Line1
EntityAddressAddressLine1
7250 Redwood Blvd., Suite 200
CY2020 dei Entity Address City Or Town
EntityAddressCityOrTown
Novato
CY2020 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94945
CY2020 dei City Area Code
CityAreaCode
415
CY2020 dei Local Phone Number
LocalPhoneNumber
899-1555
CY2020 dei Document Annual Report
DocumentAnnualReport
true
CY2020 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2020 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
CA
CY2020 hnna Schedule Of Operating Lease Right Of Use Assets Lease Liabilities And Other Supplemental Information
ScheduleOfOperatingLeaseRightOfUseAssetsLeaseLiabilitiesAndOtherSupplementalInformation
The classification of the Company&#8217;s operating lease <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> assets and operating lease liabilities and other supplemental information related to the Company&#8217;s operating leases are as follows:<table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="width: 79%;"></td><td style="width: 18%;;vertical-align:bottom;"></td><td></td><td></td><td></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding-bottom: 0.5pt;;vertical-align:bottom;;width:;">&#160;</td><td style="padding-bottom: 0.5pt;;vertical-align:bottom;;width:;">&#160;&#160;</td><td colspan="2" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">September&#160;30,&#160;2020</div></td><td style="padding-bottom: 0.5pt;;vertical-align:bottom;;width:;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;;width:;">&#160;</td><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;;width:;">&#160;&#160;</td><td colspan="2" style="text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">(In thousands,<br/> except years<br/> and percentages)</div></td><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;;width:;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgb(204, 238, 255); width: 79%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Operating lease <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> assets</div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255); width: 18%;;vertical-align:bottom;">&#160;&#160;</td><td style="background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">276</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgba(255, 255, 255, 0); width: 79%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Operating lease liability</div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgba(255, 255, 255, 0); width: 18%;;vertical-align:bottom;">&#160;&#160;</td><td style="background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">$</td><td style="background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;">330</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgb(204, 238, 255); width: 79%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Weighted average remaining lease term years</div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255); width: 18%;;vertical-align:bottom;">&#160;&#160;</td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td><td style="background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">0.8</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgba(255, 255, 255, 0); width: 79%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Weighted average discount rate</div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgba(255, 255, 255, 0); width: 18%;;vertical-align:bottom;">&#160;&#160;</td><td style="font-family: &quot;times new roman&quot;; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">&#160;</td><td style="background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;">2.28</td><td style="white-space: nowrap; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">%&#160;</td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020 hnna Commitments And Contingencies Description
CommitmentsAndContingenciesDescription
The Company has no commitments and no significant contingencies with original terms in excess of one year other than operating leases, which are discussed in Note 7.
CY2020 hnna Effective Income Tax Rate Reconciliation Deductions Executive Compensation Differences
EffectiveIncomeTaxRateReconciliationDeductionsExecutiveCompensationDifferences
0.011
CY2020Q3 hnna Long Term Operating Lease Non Current
LongTermOperatingLeaseNonCurrent
0
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1321000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
552000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1873000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
904000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
343000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1247000
CY2020Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
270000
CY2019Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
230000
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
40000
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
60000
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
608000
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
353000
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
255000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
608000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
700000
CY2019Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
500000
CY2019Q4 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
100000

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