10-Q Filing

EXPONENT INC CIK: 851520 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-024858`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	expo-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 56 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for contract losses and doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.42M	USD	Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.66M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$125.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.09M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$98.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.97M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$67.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.85M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$58.76M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.85M	shares	Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts of $3,661 and $3,417 at March 31, 2017 and December 30, 2016, respectively	`AccountsReceivableNetCurrent`	$87.41M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.98M	shares	Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts of $3,661 and $3,417 at March 31, 2017 and December 30, 2016, respectively	`AccountsReceivableNetCurrent`	$96.35M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.26M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.37M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$263.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$274.04M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$36.57M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$36.71M	USD	Point-in-time
Goodwill	`Goodwill`	$8.61M	USD	Point-in-time
Goodwill	`Goodwill`	$8.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$42.17M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$41.72M	USD	Point-in-time
Deferred compensation plan assets	`DeferredCompensationPlanAssets`	$46.70M	USD	Point-in-time
Deferred compensation plan assets	`DeferredCompensationPlanAssets`	$41.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$952.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.06M	USD	Point-in-time
Total assets	`Assets`	$398.16M	USD	Point-in-time
Total assets	`Assets`	$403.74M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$10.07M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$10.20M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$41.07M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$62.54M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$6.14M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$7.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$80.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.42M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.12M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$52.40M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$46.50M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.52M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$130.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$113.46M	USD	Point-in-time
Common stock, $0.001 par value; 80,000 shares authorized; 32,853 shares issued at March 31, 2017 and December 30, 2016	`CommonStockValue`	$33.00K	USD	Point-in-time
Common stock, $0.001 par value; 80,000 shares authorized; 32,853 shares issued at March 31, 2017 and December 30, 2016	`CommonStockValue`	$33.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$205.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$194.63M	USD	Point-in-time
Investment securities, available-for-sale	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-110.00K	USD	Point-in-time
Investment securities, available-for-sale	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-146.00K	USD	Point-in-time
Foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-2.84M	USD	Point-in-time
Foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-2.98M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.13M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$291.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$296.02M	USD	Point-in-time
Treasury stock, at cost; 6,982 and 7,256 shares held at March 31, 2017 and December 30, 2016, respectively	`TreasuryStockValue`	$209.44M	USD	Point-in-time
Treasury stock, at cost; 6,982 and 7,256 shares held at March 31, 2017 and December 30, 2016, respectively	`TreasuryStockValue`	$213.67M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$273.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$284.70M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$398.16M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$403.74M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues before reimbursements	`SalesRevenueServicesNet`	$78.95M	USD	1 Quarter
Revenues before reimbursements	`SalesRevenueServicesNet`	$80.47M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$3.65M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$4.21M	USD	1 Quarter
Revenues	`Revenues`	$83.16M	USD	1 Quarter
Revenues	`Revenues`	$84.12M	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$54.42M	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$52.02M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$6.98M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$7.19M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$3.65M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$4.21M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.51M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.22M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$66.72M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$14.63M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.44M	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$139.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$234.00K	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$2.54M	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$1.16M	USD	1 Quarter
Total	`NonoperatingIncomeExpense`	$2.78M	USD	1 Quarter
Total	`NonoperatingIncomeExpense`	$1.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.73M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.41M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.38M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$834.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.58M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.63	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.30M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.51M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.98M	shares	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.18	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.21	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$15.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.58M	USD	1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements	`DepreciationAndAmortization`	$1.57M	USD	1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements	`DepreciationAndAmortization`	$1.40M	USD	1 Quarter
Amortization of premiums and accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	1 Quarter
Amortization of premiums and accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-22.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-129.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-110.00K	USD	1 Quarter
Provision for contract losses and doubtful accounts	`ProvisionForDoubtfulAccounts`	$458.00K	USD	1 Quarter
Provision for contract losses and doubtful accounts	`ProvisionForDoubtfulAccounts`	$434.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.22M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.66M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$-430.00K	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$426.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.77M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.39M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-728.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.97M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.30M	USD	1 Quarter
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-11.94M	USD	1 Quarter
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-12.49M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.48M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.29M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.78M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$313.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.48M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.31M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$9.00M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$12.00M	USD	1 Quarter
Maturity of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$1.45M	USD	1 Quarter
Maturity of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.31M	USD	1 Quarter
Payroll taxes for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$9.52M	USD	1 Quarter
Payroll taxes for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.61M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.30M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.50M	USD	1 Quarter
Exercise of share-based payment awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$305.00K	USD	1 Quarter
Exercise of share-based payment awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$287.00K	USD	1 Quarter
Dividends and dividend equivalent rights	`PaymentsOfDividends`	$4.63M	USD	1 Quarter
Dividends and dividend equivalent rights	`PaymentsOfDividends`	$5.37M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-15.91M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-15.44M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$118.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-62.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.88M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.22M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$125.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$98.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$125.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$98.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.97M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$15.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.58M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.00K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$136.00K	USD	1 Quarter
Unrealized gains on available-for-sale investment securities arising during the period, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$36.00K	USD	1 Quarter
Unrealized gains on available-for-sale investment securities arising during the period, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$85.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.75M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.43M	USD	1 Quarter

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