10-Q Filing

ADAMS RESOURCES & ENERGY, INC. CIK: 2178 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000002178-21-000045`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ae-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 21

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$113.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.98M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$114.00K	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$12.38M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$12.77M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $113 and $114, respectively	`AccountsReceivableNetCurrent`	$111.07M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $113 and $114, respectively	`AccountsReceivableNetCurrent`	$99.80M	USD	Point-in-time
Preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable related party	`AccountsReceivableRelatedPartiesCurrent`	$13.00K	USD	Point-in-time
Accounts receivable related party	`AccountsReceivableRelatedPartiesCurrent`	-	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
Inventory	`EnergyRelatedInventory`	$19.34M	USD	Point-in-time
Inventory	`EnergyRelatedInventory`	$29.22M	USD	Point-in-time
Preferred stock - shares authorized (in shares)	`PreferredStockSharesAuthorized`	960,000.00	shares	Point-in-time
Preferred stock - shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$61.00K	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$576.00K	USD	Point-in-time
Preferred stock - shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$11.64M	USD	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
Income tax receivable	`IncomeTaxesReceivable`	$13.29M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.62M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.96M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.25M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$187.51M	USD	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$227.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$90.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$94.13M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$7.77M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$8.05M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.48M	USD	Point-in-time
Total assets	`Assets`	$332.30M	USD	Point-in-time
Total assets	`Assets`	$296.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$122.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$85.99M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$52.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$546.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$4.49M	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$4.11M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.05M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.17M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$19.89M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$22.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$114.55M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.31M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.33M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$11.51M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$12.20M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$5.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.00M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$11.90M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$12.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$181.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$147.09M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`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, 4,251,015 and 4,243,716 shares outstanding, respectively	`CommonStockValue`	$423.00K	USD	Point-in-time
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,251,015 and 4,243,716 shares outstanding, respectively	`CommonStockValue`	$423.00K	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$13.49M	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$13.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$135.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$137.10M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$139.33M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$151.02M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$151.64M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$149.09M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$332.30M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$296.19M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$353.48M	USD	1 Quarter
Total revenues	`Revenues`	$325.49M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.47M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$373.42M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$321.64M	USD	1 Quarter
Operating earnings (losses)	`OperatingIncomeLoss`	$3.85M	USD	1 Quarter
Operating earnings (losses)	`OperatingIncomeLoss`	$-19.94M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$365.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$134.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$150.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$220.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-86.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$215.00K	USD	1 Quarter
Earnings (Losses) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.77M	USD	1 Quarter
Earnings (Losses) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-19.73M	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$957.00K	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$-8.30M	USD	1 Quarter
Net earnings (losses)	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net earnings (losses)	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Basic net earnings (losses) per common share (in dollars per share)	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Basic net earnings (losses) per common share (in dollars per share)	`EarningsPerShareBasic`	$-2.70	USD	1 Quarter
Diluted net earnings (losses) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-2.69	USD	1 Quarter
Diluted net earnings (losses) per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net earnings (losses)	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net earnings (losses)	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.47M	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$83.00K	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$140.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-1.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-24.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$134.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$185.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-829.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.69M	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$21.00K	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$19.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.27M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-41.62M	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$13.00K	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$-1.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.89M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-16.39M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.65M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$5.53M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$657.00K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-253.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$36.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-68.38M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$51.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.51M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-3.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-114.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.85M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.00M	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipmentExcludingProductiveAssets`	$170.00K	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipmentExcludingProductiveAssets`	$2.21M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$502.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Insurance and state collateral (deposits) refunds	`IncreaseDecreaseInDepositOtherAssets`	$-1.13M	USD	1 Quarter
Insurance and state collateral (deposits) refunds	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$835.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-582.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$1.01M	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$532.00K	USD	1 Quarter
Payment for financed portion of VEX acquisition	`PaymentForFinancedPortionOfAcquisition`	-	USD	1 Quarter
Payment for financed portion of VEX acquisition	`PaymentForFinancedPortionOfAcquisition`	$2.50M	USD	1 Quarter
Payment of contingent consideration liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$54.00K	USD	1 Quarter
Payment of contingent consideration liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.02M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.02M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.54M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.60M	USD	1 Quarter
Increase (Decrease) in cash and cash equivalents, including restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$19.30M	USD	1 Quarter
Increase (Decrease) 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`	$122.25M	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`	$71.36M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.06M	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`	$96.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$71.36M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.06M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Dividends per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	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`	$0.24	USD	1 Quarter
Awards under LTIP (in dollars per share)	`IncentiveDistributionDistributionPerUnit`	$0.24	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$139.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$151.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$151.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$149.09M	USD	Point-in-time
Net earnings (losses)	`NetIncomeLoss`	$-11.43M	USD	1 Quarter
Net earnings (losses)	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$134.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$185.00K	USD	1 Quarter
Cancellation of shares withheld to cover taxes upon vesting	`StockGrantedDuringPeriodValueSharebasedCompensationForfeited`	$31.00K	USD	1 Quarter
Common stock	`DividendsCommonStockCash`	$1.02M	USD	1 Quarter
Common stock	`DividendsCommonStockCash`	$1.02M	USD	1 Quarter
Awards under LTIP	`IncentiveDistributionDistributionPerYear`	$18.00K	USD	1 Quarter
Awards under LTIP	`IncentiveDistributionDistributionPerYear`	$6.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$139.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$151.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$151.64M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$149.09M	USD	Point-in-time

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