10-Q Filing

LITHIA MOTORS INC CIK: 1023128 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001023128-18-000045`
Period End Date	20180331
Filing Date	20180427
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	lad-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 34 Cash Flow Statement 82

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.26M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.39M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$197.80M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$209.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.25M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,260 and $7,386	`AccountsReceivableNetCurrent`	$521.94M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,260 and $7,386	`AccountsReceivableNetCurrent`	$479.64M	USD	Point-in-time
Inventories, net	`InventoryNet`	$2.13B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$2.37B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$70.85M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$56.89M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.97B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.78B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $209,300 and $197,802	`PropertyPlantAndEquipmentNet`	$1.22B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $209,300 and $197,802	`PropertyPlantAndEquipmentNet`	$1.19B	USD	Point-in-time
Goodwill	`Goodwill`	$256.32M	USD	Point-in-time
Goodwill	`Goodwill`	$256.28M	USD	Point-in-time
Goodwill	`Goodwill`	$259.40M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$184.27M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$186.98M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$186.98M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$451.40M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$271.82M	USD	Point-in-time
Total Assets	`Assets`	$5.09B	USD	Point-in-time
Total Assets	`Assets`	$4.68B	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$145.13M	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$116.77M	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.80B	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.83B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$168.88M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$18.88M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$111.36M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$116.93M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$251.72M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$240.17M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.30B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.50B	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$1.03B	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$1.18B	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$103.11M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$107.36M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$56.28M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$58.97M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$108.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$111.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.60B	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.96B	USD	Point-in-time
Preferred stock - no par value; authorized 15,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - no par value; authorized 15,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$969.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$922.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.13B	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.09B	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.68B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$2.24B	USD	1 Quarter
Total revenues	`Revenues`	$2.66B	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.89B	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$2.25B	USD	1 Quarter
Gross profit	`GrossProfit`	$408.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$341.65M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$242.77M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$297.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.74M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$86.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$93.76M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$13.53M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$8.05M	USD	1 Quarter
Other interest expense, net	`InterestExpenseDebt`	$11.81M	USD	1 Quarter
Other interest expense, net	`InterestExpenseDebt`	$6.67M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$9.85M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$81.26M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$69.80M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$17.74M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$30.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$52.06M	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$2.01	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$2.08	USD	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.05M	shares	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.18M	shares	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$2.07	USD	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$2.01	USD	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.25M	shares	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.16M	shares	1 Quarter
Cash dividends paid per Class A and Class B share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.27	USD	1 Quarter
Cash dividends paid per Class A and Class B share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.25	USD	1 Quarter

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$50.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$52.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.74M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.57M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.62M	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-279.00K	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$44.00K	USD	1 Quarter
Loss on disposal of franchise	`GainLossOnSaleOfBusiness`	$-19.00K	USD	1 Quarter
Loss on disposal of franchise	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-417.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.69M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-42.63M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-76.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$98.86M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$42.30M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-14.65M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.78M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseinFloorPlanNotesPayable`	$-2.43M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseinFloorPlanNotesPayable`	$-17.69M	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$-7.62M	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$6.93M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-13.57M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$31.12M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.25M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$48.87M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$126.67M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.04M	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$105.00K	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$399.00K	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$7.60M	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$6.86M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$324.37M	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$363.00K	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-373.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.50M	USD	1 Quarter
Borrowings (repayments) on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$47.84M	USD	1 Quarter
Borrowings (repayments) on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$-2.11M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$893.97M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$231.00M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$351.43M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$586.73M	USD	1 Quarter
Principal payments on long-term debt and capital leases, scheduled	`RepaymentsOfLongtermDebtScheduledPayments`	$4.71M	USD	1 Quarter
Principal payments on long-term debt and capital leases, scheduled	`RepaymentsOfLongtermDebtScheduledPayments`	$4.65M	USD	1 Quarter
Principal payments on long-term debt and capital leases, other	`RepaymentsOfLongtermDebtOtherPayments`	-	USD	1 Quarter
Principal payments on long-term debt and capital leases, other	`RepaymentsOfLongtermDebtOtherPayments`	$9.74M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$27.88M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payments of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$40.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.84M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.52M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$9.19M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$8.27M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$6.76M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$6.29M	USD	1 Quarter
Acquisition contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	1 Quarter
Acquisition contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$772.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$336.36M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-123.01M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$11.73M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-18.84M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.25M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$30.26M	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$17.26M	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$8.00K	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$1.16M	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`CashPaidforRepaymentsofDebtDuetoDisposalGroup`	-	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`CashPaidforRepaymentsofDebtDuetoDisposalGroup`	$3.83M	USD	1 Quarter
Debt assumed in connection with acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	1 Quarter
Debt assumed in connection with acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$10.66M	USD	1 Quarter

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