10-Q Filing

STURM RUGER & CO INC CIK: 95029 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001174947-22-001158`
Period End Date	20220930
Filing Date	20221102
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	rgr10q0922_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 76 Cash Flow Statement 60 Stockholders Equity 15

Balance Sheet 62 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`	$21.04M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$49.85M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$20.15M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.68M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$199.97M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$165.31M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$57.04M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$61.36M	USD	Point-in-time
Gross inventories (Note 4)	`InventoryGross`	$100.02M	USD	Point-in-time
Gross inventories (Note 4)	`InventoryGross`	$120.74M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$51.83M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$54.39M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$4.85M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$4.35M	USD	Point-in-time
Net inventories	`InventoryNet`	$61.51M	USD	Point-in-time
Net inventories	`InventoryNet`	$43.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.83M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$328.73M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$351.03M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$421.28M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$437.17M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$347.65M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$365.56M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$71.61M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$73.63M	USD	Point-in-time
Deferred income taxes	`DeferredIncomTaxes`	$2.44M	USD	Point-in-time
Deferred income taxes	`DeferredIncomTaxes`	$536.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$35.82M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$39.44M	USD	Point-in-time
Total Assets	`Assets`	$460.90M	USD	Point-in-time
Total Assets	`Assets`	$442.34M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$31.37M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$36.40M	USD	Point-in-time
Contract liabilities with customers (Note 3)	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Contract liabilities with customers (Note 3)	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$795.00K	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$434.00K	USD	Point-in-time
Employee compensation and benefits	`AccruedEmployeeBenefitsCurrent`	$33.15M	USD	Point-in-time
Employee compensation and benefits	`AccruedEmployeeBenefitsCurrent`	$22.01M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$6.76M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$6.38M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$77.11M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$60.20M	USD	Point-in-time
Product liability accrual	`ProductLiabilityAccrualNoncurrent`	$97.00K	USD	Point-in-time
Product liability accrual	`ProductLiabilityAccrualNoncurrent`	$118.00K	USD	Point-in-time
Lease liability (Note 5)	`OperatingLeaseLiabilityNoncurrent`	$2.08M	USD	Point-in-time
Lease liability (Note 5)	`OperatingLeaseLiabilityNoncurrent`	$1.48M	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`	$46.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$48.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$471.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$438.10M	USD	Point-in-time
Less: Treasury stock - at cost 2022 6,712,034 shares 2021 6,709,898 shares	`TreasuryStockValue`	$145.70M	USD	Point-in-time
Less: Treasury stock - at cost 2022 6,712,034 shares 2021 6,709,898 shares	`TreasuryStockValue`	$145.59M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$363.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$398.51M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$442.34M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$460.90M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`Revenues`	$562.69M	USD	3 Qtrs
Total net sales	`Revenues`	$446.62M	USD	3 Qtrs
Total net sales	`Revenues`	$178.25M	USD	1 Quarter
Total net sales	`Revenues`	$139.39M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$100.52M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$306.09M	USD	3 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$346.57M	USD	3 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$113.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$216.12M	USD	3 Qtrs
Gross profit	`GrossProfit`	$64.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$140.53M	USD	3 Qtrs
Gross profit	`GrossProfit`	$38.87M	USD	1 Quarter
Selling	`SellingExpense`	$7.75M	USD	1 Quarter
Selling	`SellingExpense`	$25.83M	USD	3 Qtrs
Selling	`SellingExpense`	$8.76M	USD	1 Quarter
Selling	`SellingExpense`	$24.29M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$33.48M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.93M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$56.76M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$18.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$57.77M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$19.01M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$158.35M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$19.86M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$83.78M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$46.73M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$730.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$951.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$31.00K	USD	3 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-164.00K	USD	3 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-88.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-114.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-205.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.40M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.09M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$490.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.46M	USD	3 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$1.30M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.13M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$2.33M	USD	3 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$2.84M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.99M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$86.61M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$160.68M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$48.02M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$17.24M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$2.60M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$42.90M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$12.82M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$69.38M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$117.78M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$35.20M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$18.39M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$6.70	USD	3 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$2.00	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$1.04	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$3.93	USD	3 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$1.03	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$6.64	USD	3 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$1.98	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$3.90	USD	3 Qtrs
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.58M	shares	3 Qtrs
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.60M	shares	1 Quarter
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.67M	shares	1 Quarter
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.64M	shares	3 Qtrs
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.77M	shares	3 Qtrs
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.83M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.78M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.75M	shares	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$2.01	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$2.57	USD	3 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.47	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$69.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$117.78M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$35.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.12M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$5.05M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.67M	USD	3 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$111.00K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-15.00K	USD	3 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$1.52M	USD	3 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$-1.91M	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$4.33M	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$13.98M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$10.04M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$17.66M	USD	3 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.32M	USD	3 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.72M	USD	3 Qtrs
Contract liability with customers	`ContractLiabilityToCustomers`	$-84.00K	USD	3 Qtrs
Contract liability with customers	`ContractLiabilityToCustomers`	-	USD	3 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.57M	USD	3 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-11.77M	USD	3 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-340.00K	USD	3 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-161.00K	USD	3 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.98M	USD	3 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.28M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.54M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.26M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$117.00M	USD	3 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.62M	USD	3 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.21M	USD	3 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.15M	USD	1 Quarter
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.88M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$41.00K	USD	3 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$135.00K	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireInvestments`	$376.98M	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireInvestments`	$200.38M	USD	3 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$235.04M	USD	3 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$332.99M	USD	3 Qtrs
Cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.50M	USD	3 Qtrs
Cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.47M	USD	3 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.80M	USD	3 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.37M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$107.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$45.20M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$35.47M	USD	3 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-38.95M	USD	3 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$7.53M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$28.81M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.04M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.85M	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`	$27.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.85M	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`	$27.68M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Repurchase of shares of common stock	`StockRepurchasedDuringPeriodShares`	2,136.00	shares	3 Qtrs
Balance	`StockholdersEquity`	$363.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$398.51M	USD	Point-in-time
Net income and comprehensive income	`NetIncomeLoss`	$69.38M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$117.78M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$35.20M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$18.39M	USD	1 Quarter
Common stock issued compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	3 Qtrs
Vesting of RSUs	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$3.37M	USD	3 Qtrs
Dividends paid	`DividendsCommonStock`	$35.47M	USD	3 Qtrs
Unpaid dividends accrued	`DividendsPaidinkind`	$634.00K	USD	3 Qtrs
Recognition of stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.05M	USD	3 Qtrs
Repurchase of 2,136 shares of common stock	`StockRepurchasedDuringPeriodValue`	$107.00K	USD	3 Qtrs
Balance	`StockholdersEquity`	$363.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$398.51M	USD	Point-in-time

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