10-Q Filing

HEALTHCARE SERVICES GROUP INC CIK: 731012 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000731012-18-000051`
Period End Date	20180331
Filing Date	20180427
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	hcsg-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 28 Cash Flow Statement 62 Stockholders Equity 17

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.49M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$48.91M	USD	Point-in-time
Marketable securities, at fair value	`MarketableSecuritiesCurrent`	$73.22M	USD	Point-in-time
Accumulated amortization of other intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$13.97M	USD	Point-in-time
Accumulated amortization of other intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$12.85M	USD	Point-in-time
Marketable securities, at fair value	`MarketableSecuritiesCurrent`	$74.37M	USD	Point-in-time
Accounts and notes receivable, less allowance for doubtful accounts of $48,905 and $11,985 as of March 31, 2018 and December 31, 2017, respectively	`AccountsNotesAndLoansReceivableNetCurrent`	$378.72M	USD	Point-in-time
Accounts and notes receivable, less allowance for doubtful accounts of $48,905 and $11,985 as of March 31, 2018 and December 31, 2017, respectively	`AccountsNotesAndLoansReceivableNetCurrent`	$335.01M	USD	Point-in-time
Inventories and supplies	`OtherInventory`	$42.39M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories and supplies	`OtherInventory`	$42.27M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseCurrent`	$23.52M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseCurrent`	$27.00M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$489.15M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	74.96M	shares	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	75.17M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$527.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.49M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	73.44M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.51M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	73.70M	shares	Point-in-time
Goodwill	`Goodwill`	$51.08M	USD	Point-in-time
Common stock in treasury (in shares)	`TreasuryStockShares`	1.52M	shares	Point-in-time
Common stock in treasury (in shares)	`TreasuryStockShares`	1.47M	shares	Point-in-time
Goodwill	`Goodwill`	$51.08M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $13,969 and $12,853 as of March 31, 2018 and December 31, 2017, respectively	`FiniteLivedIntangibleAssetsNet`	$29.77M	USD	Point-in-time
Other intangible assets, less accumulated amortization of $13,969 and $12,853 as of March 31, 2018 and December 31, 2017, respectively	`FiniteLivedIntangibleAssetsNet`	$30.88M	USD	Point-in-time
Notes receivable - long-term portion	`NotesAndLoansReceivableNetNoncurrent`	$38.81M	USD	Point-in-time
Notes receivable - long-term portion	`NotesAndLoansReceivableNetNoncurrent`	$15.48M	USD	Point-in-time
Deferred compensation funding, at fair value	`DeferredCompensationPlanAssets`	$29.44M	USD	Point-in-time
Deferred compensation funding, at fair value	`DeferredCompensationPlanAssets`	$28.89M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$7.50M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$7.80M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.26M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.26M	USD	Point-in-time
Total assets	`Assets`	$660.81M	USD	Point-in-time
Total assets	`Assets`	$676.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$70.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$74.46M	USD	Point-in-time
Accrued payroll, accrued and withheld payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$48.04M	USD	Point-in-time
Accrued payroll, accrued and withheld payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$32.14M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$4.56M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.12M	USD	Point-in-time
Borrowings under line of credit	`LineOfCredit`	$26.00M	USD	Point-in-time
Borrowings under line of credit	`LineOfCredit`	$35.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$15.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$939.00K	USD	Point-in-time
Accrued insurance claims	`WorkersCompensationLiabilityCurrent`	$22.25M	USD	Point-in-time
Accrued insurance claims	`WorkersCompensationLiabilityCurrent`	$22.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$171.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.17M	USD	Point-in-time
Accrued insurance claims long-term portion	`WorkersCompensationLiabilityNoncurrent`	$65.22M	USD	Point-in-time
Accrued insurance claims long-term portion	`WorkersCompensationLiabilityNoncurrent`	$62.45M	USD	Point-in-time
Deferred compensation liability	`DeferredCompensationLiabilityClassifiedNoncurrent`	$29.59M	USD	Point-in-time
Deferred compensation liability	`DeferredCompensationLiabilityClassifiedNoncurrent`	$29.43M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value; 100,000 shares authorized; 75,169 and 74,960 shares issued, and 73,701 and 73,436 shares outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$752.00K	USD	Point-in-time
Common stock, $.01 par value; 100,000 shares authorized; 75,169 and 74,960 shares issued, and 73,701 and 73,436 shares outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$750.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$253.69M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$244.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$163.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$149.74M	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of taxes	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$837.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income, net of taxes	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-301.00K	USD	Point-in-time
Common stock in treasury, at cost, 1,469 and 1,524 shares as of March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$9.86M	USD	Point-in-time
Common stock in treasury, at cost, 1,469 and 1,524 shares as of March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$9.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$394.34M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$399.95M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$676.00M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$660.81M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueServicesNet`	$501.81M	USD	1 Quarter
Revenues	`SalesRevenueServicesNet`	$404.49M	USD	1 Quarter
Costs of services provided	`CostOfServices`	$345.57M	USD	1 Quarter
Costs of services provided	`CostOfServices`	$469.90M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$28.21M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$33.78M	USD	1 Quarter
Investment and interest	`InvestmentIncomeNonoperating`	$1.57M	USD	1 Quarter
Investment and interest	`InvestmentIncomeNonoperating`	$476.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$32.28M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.40M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$10.26M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-1.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$72.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.02M	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	73.91M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	73.07M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	73.95M	shares	1 Quarter
Net income	`NetIncomeLoss`	$72.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.02M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale marketable securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.14M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale marketable securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$479.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.07M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$22.50M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$72.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.02M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.41M	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$37.14M	USD	1 Quarter
Bad debt provision	`ProvisionForDoubtfulAccounts`	$1.05M	USD	1 Quarter
Stock-based compensation expense, net of tax benefit from equity compensation plans	`ShareBasedCompensation`	$421.00K	USD	1 Quarter
Stock-based compensation expense, net of tax benefit from equity compensation plans	`ShareBasedCompensation`	$445.00K	USD	1 Quarter
Amortization of premium on marketable securities	`InvestmentIncomeAmortizationOfPremium`	$339.00K	USD	1 Quarter
Amortization of premium on marketable securities	`InvestmentIncomeAmortizationOfPremium`	$343.00K	USD	1 Quarter
Unrealized gain on deferred compensation fund investments	`UnrealizedGainLossOnSecuritiesRelatedToDeferredCompensationFund`	$1.21M	USD	1 Quarter
Unrealized gain on deferred compensation fund investments	`UnrealizedGainLossOnSecuritiesRelatedToDeferredCompensationFund`	$300.00K	USD	1 Quarter
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$16.77M	USD	1 Quarter
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$10.41M	USD	1 Quarter
Inventories and supplies	`IncreaseDecreaseInInventories`	$-506.00K	USD	1 Quarter
Inventories and supplies	`IncreaseDecreaseInInventories`	$-119.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.48M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.86M	USD	1 Quarter
Deferred compensation funding	`IncreaseDecreaseInDeferredCompensationFunding`	$-246.00K	USD	1 Quarter
Deferred compensation funding	`IncreaseDecreaseInDeferredCompensationFunding`	$259.00K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$3.64M	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-5.48M	USD	1 Quarter
Accrued payroll, accrued and withheld payroll taxes	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$15.30M	USD	1 Quarter
Accrued payroll, accrued and withheld payroll taxes	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$18.55M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-13.29M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.85M	USD	1 Quarter
Accrued insurance claims	`IncreaseDecreaseInWorkersCompensationLiabilities`	$784.00K	USD	1 Quarter
Accrued insurance claims	`IncreaseDecreaseInWorkersCompensationLiabilities`	$3.44M	USD	1 Quarter
Deferred compensation liability	`IncreaseDecreaseInDeferredCompensation`	$1.02M	USD	1 Quarter
Deferred compensation liability	`IncreaseDecreaseInDeferredCompensation`	$1.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.65M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.93M	USD	1 Quarter
Disposals of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$104.00K	USD	1 Quarter
Disposals of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$63.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.32M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.33M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$7.86M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$5.40M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.47M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.72M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.20M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$13.62M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$14.15M	USD	1 Quarter
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan	`ProceedsFromIssuanceOfCommonStock`	$24.00K	USD	1 Quarter
Reissuance of treasury stock pursuant to Dividend Reinvestment Plan	`ProceedsFromIssuanceOfCommonStock`	$24.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.69M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.71M	USD	1 Quarter
Net repayments of short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net repayments of short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-9.38M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.91M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.80M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.38M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$932.00K	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$48.23M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.49M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$48.23M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.49M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$394.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$399.95M	USD	Point-in-time
Net income for the period	`NetIncomeLoss`	$72.00K	USD	1 Quarter
Net income for the period	`NetIncomeLoss`	$22.02M	USD	1 Quarter
Unrealized loss on available-for-sale marketable securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.14M	USD	1 Quarter
Unrealized loss on available-for-sale marketable securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$479.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.07M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$22.50M	USD	1 Quarter
Exercise of stock options and other stock-based compensation, net of shares tendered for payment	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.71M	USD	1 Quarter
Share-based compensation expense stock options, restricted stock	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.41M	USD	1 Quarter
Treasury shares issued for Deferred Compensation Plan funding and redemptions	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$480.00K	USD	1 Quarter
Shares issued pursuant to Employee Stock Plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$2.82M	USD	1 Quarter
Dividends paid and accrued	`DividendsCommonStockCash`	$14.19M	USD	1 Quarter
Shares issued pursuant to Dividend Reinvestment Plan	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$24.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueNewIssues`	$205.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$394.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$399.95M	USD	Point-in-time

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