10-Q Filing

STURM RUGER & CO INC CIK: 95029 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0000891092-21-005899`
Period End Date	20210630
Filing Date	20210804
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	rgr10q0721_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 76 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Treasury stock, shares	`TreasuryStockShares`	6.71M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.71M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$35.42M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.70M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$23.56M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$121.01M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$149.99M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$57.88M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$76.06M	USD	Point-in-time
Gross inventories (Note 4)	`InventoryGross`	$80.49M	USD	Point-in-time
Gross inventories (Note 4)	`InventoryGross`	$84.25M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$48.97M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$48.02M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$3.39M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$3.30M	USD	Point-in-time
Net inventories	`InventoryNet`	$31.99M	USD	Point-in-time
Net inventories	`InventoryNet`	$29.08M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.04M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.27M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$234.37M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$285.64M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$404.92M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$393.84M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$337.34M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$323.11M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$67.58M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$70.73M	USD	Point-in-time
Deferred income taxes	`DeferredIncomTaxes`	$1.53M	USD	Point-in-time
Deferred income taxes	`DeferredIncomTaxes`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$41.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$45.66M	USD	Point-in-time
Total Assets	`Assets`	$348.26M	USD	Point-in-time
Total Assets	`Assets`	$398.88M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$37.08M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$38.26M	USD	Point-in-time
Contract liabilities with customers (Note 3)	`ContractWithCustomerLiabilityCurrent`	$84.00K	USD	Point-in-time
Contract liabilities with customers (Note 3)	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$1.05M	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$919.00K	USD	Point-in-time
Employee compensation and benefits	`AccruedEmployeeBenefitsCurrent`	$28.61M	USD	Point-in-time
Employee compensation and benefits	`AccruedEmployeeBenefitsCurrent`	$37.27M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$6.82M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$6.27M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.12M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$81.76M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$77.73M	USD	Point-in-time
Product liability accrual	`ProductLiabilityAccrualNoncurrent`	$74.00K	USD	Point-in-time
Product liability accrual	`ProductLiabilityAccrualNoncurrent`	$91.00K	USD	Point-in-time
Lease liability (Note 5)	`OperatingLeaseLiabilityNoncurrent`	$1.59M	USD	Point-in-time
Lease liability (Note 5)	`OperatingLeaseLiabilityNoncurrent`	$1.72M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$324.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Contingent liabilities (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingent liabilities (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$342.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$396.82M	USD	Point-in-time
Less: Treasury stock - at cost 2021 - 6,709,898 shares 2020 - 6,709,898 shares	`TreasuryStockValue`	$145.59M	USD	Point-in-time
Less: Treasury stock - at cost 2021 - 6,709,898 shares 2020 - 6,709,898 shares	`TreasuryStockValue`	$145.59M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$264.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$319.14M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$398.88M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$348.26M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`Revenues`	$130.26M	USD	1 Quarter
Total net sales	`Revenues`	$200.07M	USD	1 Quarter
Total net sales	`Revenues`	$384.45M	USD	2 Qtrs
Total net sales	`Revenues`	$253.90M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$90.18M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$177.81M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$121.31M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$233.13M	USD	2 Qtrs
Gross profit	`GrossProfit`	$151.32M	USD	2 Qtrs
Gross profit	`GrossProfit`	$78.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$76.09M	USD	2 Qtrs
Selling	`SellingExpense`	$7.29M	USD	1 Quarter
Selling	`SellingExpense`	$16.54M	USD	2 Qtrs
Selling	`SellingExpense`	$8.45M	USD	1 Quarter
Selling	`SellingExpense`	$14.92M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.98M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$23.16M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$31.91M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$16.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$39.70M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$19.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$44.19M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$59.67M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$24.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$111.62M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$12.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$960.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$394.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$20.00K	USD	2 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-27.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-52.00K	USD	2 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-25.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-50.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$610.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$413.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$306.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.06M	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$597.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$673.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.03M	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$1.32M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$45.51M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$60.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$112.66M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.70M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$11.58M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$15.88M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$6.11M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$30.08M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$33.93M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$44.38M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$18.59M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$82.58M	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.94	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$2.52	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$4.70	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.06	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$1.05	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$4.66	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$2.50	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$1.91	USD	2 Qtrs
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.59M	shares	1 Quarter
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.57M	shares	2 Qtrs
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.48M	shares	2 Qtrs
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.49M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.77M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.74M	shares	2 Qtrs
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.76M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.74M	shares	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.35	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.86	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$1.57	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.53	USD	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$33.93M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$44.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.58M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.43M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.75M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$5.04M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.73M	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$48.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$58.00K	USD	2 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$1.85M	USD	2 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$3.13M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$18.18M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$1.01M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-16.23M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.91M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.69M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.46M	USD	2 Qtrs
Contract liability to customers	`ContractLiabilityToCustomers`	$-5.98M	USD	2 Qtrs
Contract liability to customers	`ContractLiabilityToCustomers`	$-84.00K	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.43M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$6.12M	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-42.00K	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-116.00K	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.05M	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$6.33M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.12M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.47M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$78.11M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.20M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.46M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.92M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$73.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$54.00K	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireInvestments`	$271.98M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireInvestments`	$233.47M	USD	2 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$243.00M	USD	2 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$154.07M	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.38M	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.26M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.80M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.30M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$27.61M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.27M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-32.41M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.57M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$3.41M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-17.72M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.56M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$264.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$319.14M	USD	Point-in-time
Net income and comprehensive income	`NetIncomeLoss`	$33.93M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$44.38M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$18.59M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$82.58M	USD	2 Qtrs
Common stock issued - compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Vesting of RSUs	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$4.80M	USD	2 Qtrs
Dividends paid	`DividendsCommonStock`	$27.61M	USD	2 Qtrs
Unpaid dividends accrued	`DividendsPaidinkind`	$769.00K	USD	2 Qtrs
Recognition of stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.04M	USD	2 Qtrs
Balance	`StockholdersEquity`	$264.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$319.14M	USD	Point-in-time

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