10-Q Filing

ADAMS RESOURCES & ENERGY, INC. CIK: 2178 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000002178-22-000046`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	ae-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 23

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$108.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$103.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$97.83M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$8.85M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$9.49M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $103 and $108, respectively	`AccountsReceivableNetCurrent`	$137.79M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $103 and $108, respectively	`AccountsReceivableNetCurrent`	$212.45M	USD	Point-in-time
Accounts receivable related party	`AccountsReceivableRelatedPartiesCurrent`	$2.00K	USD	Point-in-time
Preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable related party	`AccountsReceivableRelatedPartiesCurrent`	$1.00K	USD	Point-in-time
Inventory	`EnergyRelatedInventory`	$42.38M	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
Inventory	`EnergyRelatedInventory`	$18.94M	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$347.00K	USD	Point-in-time
Derivative assets	`DerivativeAssetsCurrent`	$1.15M	USD	Point-in-time
Preferred stock - shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	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
Income tax receivable	`IncomeTaxesReceivable`	$5.14M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.42M	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`	$2.39M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.71M	USD	Point-in-time
Common stock - shares authorized (in shares)	`CommonStockSharesAuthorized`	7.50M	shares	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.37M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$273.21M	USD	Point-in-time
Common stock - shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$370.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$88.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$86.54M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$7.11M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$6.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.32M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.78M	USD	Point-in-time
Total assets	`Assets`	$374.70M	USD	Point-in-time
Total assets	`Assets`	$470.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$168.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$259.45M	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$47.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$324.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$3.66M	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$3.29M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.18M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.26M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.83M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$11.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$186.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$276.98M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.39M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.38M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$8.90M	USD	Point-in-time
Finance lease obligations	`FinanceLeaseLiabilityNoncurrent`	$9.67M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$4.45M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$4.94M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$11.32M	USD	Point-in-time
Deferred taxes and other liabilities	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$11.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$214.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$304.60M	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, 4,367,866 and 4,355,001 shares outstanding, respectively	`CommonStockValue`	$435.00K	USD	Point-in-time
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,367,866 and 4,355,001 shares outstanding, respectively	`CommonStockValue`	$433.00K	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$17.02M	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapital`	$16.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$148.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$143.04M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$151.02M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$160.39M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$165.52M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$149.09M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$470.12M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$374.70M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$774.25M	USD	1 Quarter
Total revenues	`Revenues`	$325.49M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.02M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.05M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$766.10M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$321.64M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$8.15M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$3.85M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$134.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$24.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$220.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$114.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-90.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-86.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.06M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.77M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.97M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$957.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.09M	USD	1 Quarter
Basic net earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.40	USD	1 Quarter
Basic net earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Diluted net earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.39	USD	1 Quarter
Diluted net earnings 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 56 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.05M	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$83.00K	USD	1 Quarter
Gains on sales of property	`GainLossOnSaleOfOilAndGasProperty`	$491.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-5.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-1.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$195.00K	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`	$561.00K	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$20.00K	USD	1 Quarter
Net change in fair value contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$21.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$74.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.27M	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$13.00K	USD	1 Quarter
Accounts receivable/payable, affiliates	`IncreaseDecreaseDueFromAffiliates`	$-48.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$23.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.89M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.28M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.65M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$657.00K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-684.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$36.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$91.21M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$51.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-775.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-114.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$178.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.87M	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipmentExcludingProductiveAssets`	$3.69M	USD	1 Quarter
Property and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipmentExcludingProductiveAssets`	$170.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$856.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$835.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.84M	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$1.01M	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$1.14M	USD	1 Quarter
Payment for financed portion of VEX acquisition	`PaymentForFinancedPortionOfAcquisition`	$2.50M	USD	1 Quarter
Payment for financed portion of VEX acquisition	`PaymentForFinancedPortionOfAcquisition`	-	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.02M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$1.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.21M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.54M	USD	1 Quarter
Increase in cash and cash equivalents, including restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$828.00K	USD	1 Quarter
Increase in cash and cash equivalents, including restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$19.30M	USD	1 Quarter
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.32M	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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$71.36M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.14M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.32M	USD	Point-in-time
Cash and cash equivalents, including restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.06M	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`	$108.14M	USD	Point-in-time

Stockholders Equity 23 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`	$151.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$160.39M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$165.52M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$149.09M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$2.81M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.09M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$185.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$195.00K	USD	1 Quarter
Vesting of restricted awards	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$31.00K	USD	1 Quarter
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$86.00K	USD	1 Quarter
Common stock	`DividendsCommonStockCash`	$1.02M	USD	1 Quarter
Common stock	`DividendsCommonStockCash`	$1.05M	USD	1 Quarter
Awards under LTIP	`IncentiveDistributionDistributionPerYear`	$18.00K	USD	1 Quarter
Awards under LTIP	`IncentiveDistributionDistributionPerYear`	$16.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$151.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$160.39M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$165.52M	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.