10-Q Filing

ADAMS RESOURCES & ENERGY, INC. CIK: 2178 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000002178-20-000057`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ae-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 30 Cash Flow Statement 62 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.99M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$141.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$117.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.40M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$8.83M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$9.26M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $117 and $141, respectively	`AccountsReceivableNetCurrent`	$52.94M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $117 and $141, respectively	`AccountsReceivableNetCurrent`	$94.53M	USD	Point-in-time
Preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventory	`EnergyRelatedInventory`	$26.41M	USD	Point-in-time
Inventory	`EnergyRelatedInventory`	$10.02M	USD	Point-in-time
Preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock - shares authorized (in shares)	`PreferredStockSharesAuthorized`	960,000.00	shares	Point-in-time
Preferred stock - shares authorized (in shares)	`PreferredStockSharesAuthorized`	960,000.00	shares	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$545.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.57M	USD	Point-in-time
Preferred stock - shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$14.49M	USD	Point-in-time
Preferred stock - shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock - par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock - par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.56M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.31M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$247.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$175.53M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.24M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.24M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$69.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.38M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$9.09M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$9.58M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.47M	USD	Point-in-time
Cash deposits and other assets	`CashDepositsAndOtherAssetsNoncurrent`	$3.30M	USD	Point-in-time
Cash deposits and other assets	`CashDepositsAndOtherAssetsNoncurrent`	$2.19M	USD	Point-in-time
Total assets	`Assets`	$330.84M	USD	Point-in-time
Total assets	`Assets`	$253.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$147.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.25M	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$5.00K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$6.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$526.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$2.17M	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$2.19M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.20M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.25M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.81M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$159.58M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.57M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.58M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$3.82M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$4.38M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.89M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.32M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$6.35M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$10.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$179.20M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $1.00 par value, 960,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $1.00 par value, 960,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,235,750 and 4,235,533 shares outstanding, respectively	`CommonStockValue`	$423.00K	USD	Point-in-time
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,235,750 and 4,235,533 shares outstanding, respectively	`CommonStockValue`	$423.00K	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$12.78M	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$12.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$138.44M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$125.99M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$150.70M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$151.64M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$139.33M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$146.60M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$330.84M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$253.66M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$445.17M	USD	1 Quarter
Total revenues	`Revenues`	$353.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.59M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$439.92M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$373.42M	USD	1 Quarter
Operating (losses) earnings	`OperatingIncomeLoss`	$5.25M	USD	1 Quarter
Operating (losses) earnings	`OperatingIncomeLoss`	$-19.94M	USD	1 Quarter
Gain on dissolution of investment	`DeconsolidationGainOrLossAmount`	-	USD	1 Quarter
Gain on dissolution of investment	`DeconsolidationGainOrLossAmount`	$498.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$656.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$365.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$150.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$65.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$215.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$1.09M	USD	1 Quarter
(Losses) Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.34M	USD	1 Quarter
(Losses) Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-19.73M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$1.43M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$-8.30M	USD	1 Quarter
Net (losses) earnings	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net (losses) earnings	`NetIncomeLoss`	$4.91M	USD	1 Quarter
Basic net (losses) earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$-2.70	USD	1 Quarter
Basic net (losses) earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.16	USD	1 Quarter
Diluted net (losses) earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.16	USD	1 Quarter
Diluted net (losses) earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$-2.69	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.22	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net (losses) earnings	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net (losses) earnings	`NetIncomeLoss`	$4.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.59M	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$140.00K	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$178.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-24.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-32.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$123.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$134.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$834.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.69M	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$19.00K	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$-19.00K	USD	1 Quarter
Gain on dissolution of AREC	`DeconsolidationGainOrLossAmount`	-	USD	1 Quarter
Gain on dissolution of AREC	`DeconsolidationGainOrLossAmount`	$498.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-41.62M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.87M	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$-1.00K	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$23.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-16.39M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.46M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$5.53M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-426.00K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$52.00K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-253.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-68.38M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.91M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.51M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.43M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$878.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-3.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.02M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.85M	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.21M	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.35M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$502.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$543.00K	USD	1 Quarter
Proceeds from dissolution of AREC	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Proceeds from dissolution of AREC	`ProceedsFromDivestitureOfBusinesses`	$923.00K	USD	1 Quarter
Insurance and state collateral (deposits) refunds	`IncreaseDecreaseInDepositOtherAssets`	$-842.00K	USD	1 Quarter
Insurance and state collateral (deposits) refunds	`IncreaseDecreaseInDepositOtherAssets`	$-1.13M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-582.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.04M	USD	1 Quarter
Principal repayments of finance lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$218.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$532.00K	USD	1 Quarter
Payment of contingent consideration liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	1 Quarter
Payment of contingent consideration liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$54.00K	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$928.00K	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.02M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.60M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.15M	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents, including restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.83M	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents, including restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-26.03M	USD	1 Quarter
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$117.07M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$122.25M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$130.89M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$117.07M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$122.25M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$130.89M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.22	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter
Awards under LTIP (in dollars per share)	`IncentiveDistributionDistributionPerUnit`	$0.22	USD	1 Quarter
Awards under LTIP (in dollars per share)	`IncentiveDistributionDistributionPerUnit`	$0.24	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$150.70M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$151.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$139.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$146.60M	USD	Point-in-time
Net (losses) earnings	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net (losses) earnings	`NetIncomeLoss`	$4.91M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$134.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$123.00K	USD	1 Quarter
Common stock, $0.24/share	`DividendsCommonStockCash`	$928.00K	USD	1 Quarter
Common stock, $0.24/share	`DividendsCommonStockCash`	$1.02M	USD	1 Quarter
Awards under LTIP, $0.24/share	`IncentiveDistributionDistributionPerYear`	$2.00K	USD	1 Quarter
Awards under LTIP, $0.24/share	`IncentiveDistributionDistributionPerYear`	$6.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$150.70M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$151.64M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$139.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$146.60M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.