2 & & & & TABLE OF CONTENTS & & & Page PART I & & & & & Item 1. Financial Statements and Supplementary Data 37 Item 9. The COVID-19 Pandemic has impacted, and will continue to impact, Park financially. Once fully cured, thermoset materials cannot be further reshaped. The Company also has customers for these materials outside of the United States. & A radome is a protective cover over an electrical antenna or signal generator. Park's safety performance has been an important focus of the Company. Customers and End Markets" in Item 1 of Part I of this Report. He had been Vice President and General Counsel since September 2014. As of April 27, 2021, there were 487 holders of record of Common Stock. & MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. & The 2019 fiscal year consisted of 53 weeks. Accounts outstanding longer than established payment terms are considered past due. Such adjustments are recognized entirely in the period in which they are identified. 36 & & ITEM 8.& & & & & & & & & The Company assesses the impairment of goodwill at least annually. The Company concluded that there was no impairment in the 2021 or 2020 fiscal years. & & All of the Company's leases have been assessed to be operating leases. The Company has a valuation allowance against the remaining carryforwards. During the 2021 fiscal year, the Company's operating lease expense was $173. 58 & & In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. & The changes simplify the accounting for a number of topics, some of which are narrow. The net gain on the Sale was estimated to be $102,145. The total consideration allocation for Nelco Products Pte. The Company adopted this ASU in the first quarter of the 2021 fiscal year. 1-4415, which is incorporated herein by reference.) & & & & The Company\'s manufacturing facilities are located in Kansas. Volatility factors are based on historical volatility of the Company\'s common stock.
