10-Q Filing

DOUGLAS DYNAMICS, INC CIK: 1287213 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-074721`
Period End Date	20120930
Filing Date	20121106
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	plow-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 77 Cash Flow Statement 59

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.13M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.02M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.02M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.13M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.84M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$34.02M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$70.68M	USD	Point-in-time
Inventories	`InventoryNet`	$24.00M	USD	Point-in-time
Inventories	`InventoryNet`	$30.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.95M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.95M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$1.21M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$110.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$103.46M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$21.34M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$20.25M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSalePropertyPlantAndEquipment`	$1.73M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSalePropertyPlantAndEquipment`	$1.73M	USD	Point-in-time
Goodwill	`Goodwill`	$107.22M	USD	Point-in-time
Goodwill	`Goodwill`	$107.22M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$121.75M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$117.85M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$2.77M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$3.40M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$112.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$599.00K	USD	Point-in-time
Total assets	`Assets`	$359.02M	USD	Point-in-time
Total assets	`Assets`	$360.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.10M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$11.07M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$16.11M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$395.00K	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$23.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$971.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.14M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$8.12M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$8.05M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$14.16M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$13.08M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$30.58M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$26.96M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$756.00K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$912.00K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$111.24M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$111.87M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.54M	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,130,996 and 22,020,694 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$221.00K	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,130,996 and 22,020,694 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$220.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$132.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$130.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.16M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.48M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$163.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$158.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$359.02M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$360.98M	USD	Point-in-time

Income Statement 77 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$148.54M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$53.49M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$37.77M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$111.83M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$26.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$37.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$75.39M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$96.64M	USD	3 Qtrs
Gross profit	`GrossProfit`	$11.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$51.90M	USD	3 Qtrs
Gross profit	`GrossProfit`	$16.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$36.45M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$6.55M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$15.39M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$19.23M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$5.05M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$3.90M	USD	3 Qtrs
Intangibles amortization	`AmortizationOfIntangibleAssets`	$1.30M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$1.30M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$3.90M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$17.16M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$28.77M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.65M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.21M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-6.68M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-6.30M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-2.33M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-2.08M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-673.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-277.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-25.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-202.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-44.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.29M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.09M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.22M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.58M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$3.52M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.32M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$745.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.33M	USD	3 Qtrs
Net income	`ProfitLoss`	$7.05M	USD	3 Qtrs
Net income	`ProfitLoss`	$3.97M	USD	1 Quarter
Net income	`ProfitLoss`	$2.35M	USD	1 Quarter
Net income	`ProfitLoss`	$12.89M	USD	3 Qtrs
Less net income attributable to participating securities	`ParticipatingSecuritiesDistributedAndUndistributedEarnings`	$51.00K	USD	1 Quarter
Less net income attributable to participating securities	`ParticipatingSecuritiesDistributedAndUndistributedEarnings`	$271.00K	USD	3 Qtrs
Less net income attributable to participating securities	`ParticipatingSecuritiesDistributedAndUndistributedEarnings`	$19.00K	USD	1 Quarter
Less net income attributable to participating securities	`ParticipatingSecuritiesDistributedAndUndistributedEarnings`	$51.00K	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.33M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.92M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.00M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$12.62M	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.61M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.92M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.76M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.89M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.96M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.98M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.76M	shares	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.59	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.32	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.57	USD	3 Qtrs
Cash dividends declared and paid per share (in dollars per share)	`CommonStockDividendsPerShareDeclaredAndPaid`	$0.97	USD	3 Qtrs
Cash dividends declared and paid per share (in dollars per share)	`CommonStockDividendsPerShareDeclaredAndPaid`	$0.20	USD	1 Quarter
Cash dividends declared and paid per share (in dollars per share)	`CommonStockDividendsPerShareDeclaredAndPaid`	$0.21	USD	1 Quarter
Cash dividends declared and paid per share (in dollars per share)	`CommonStockDividendsPerShareDeclaredAndPaid`	$0.62	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.37M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.06M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.51M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.65M	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$7.05M	USD	3 Qtrs
Net income	`ProfitLoss`	$3.97M	USD	1 Quarter
Net income	`ProfitLoss`	$2.35M	USD	1 Quarter
Net income	`ProfitLoss`	$12.89M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.15M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.00M	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCosts`	$763.00K	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCosts`	$627.00K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-673.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.21M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.70M	USD	3 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$454.00K	USD	3 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$208.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.63M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.66M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$46.42M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$36.87M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$6.38M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.59M	USD	3 Qtrs
Prepaid and other assets and prepaid income taxes	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.15M	USD	3 Qtrs
Prepaid and other assets and prepaid income taxes	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$821.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$985.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.94M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.48M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.43M	USD	3 Qtrs
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$-156.00K	USD	3 Qtrs
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$-120.00K	USD	3 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-368.00K	USD	3 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-533.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-18.19M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-35.09M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.58M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.08M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$67.00K	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$80.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.52M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.28M	USD	3 Qtrs
Collection of stockholders' notes receivable	`ProceedsFromStockholdersNoteReceivable`	$482.00K	USD	3 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$3.45M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$21.27M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$13.63M	USD	3 Qtrs
Revolver borrowings	`ProceedsFromLinesOfCredit`	$24.00M	USD	3 Qtrs
Revolver borrowings	`ProceedsFromLinesOfCredit`	$23.00M	USD	3 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$123.75M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$10.86M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$122.14M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.64M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.49M	USD	3 Qtrs
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-37.59M	USD	3 Qtrs
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-17.07M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.43M	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`	$3.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.84M	USD	Point-in-time

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