10-Q Filing

XPO, INC. CIK: 1166003 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-207880`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	xpo-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 32 Cash Flow Statement 63 Stockholders Equity 12

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.07M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$603.00K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.32M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$204.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.38M	USD	Point-in-time
Accounts receivable, net of allowances of $1,068 and $603, respectively	`AccountsReceivableNetCurrent`	$73.45M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $1,068 and $603, respectively	`AccountsReceivableNetCurrent`	$61.24M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.66M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.55M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Deferred tax asset, current	`DeferredTaxAssetsNetCurrent`	$1.27M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	74,275.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	74,275.00	shares	Point-in-time
Deferred tax asset, current	`DeferredTaxAssetsNetCurrent`	$1.41M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	74,275.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.91M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	74,275.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.57M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.87M	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
Other current assets	`OtherAssetsCurrent`	$3.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$289.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$320.93M	USD	Point-in-time
Property and equipment, net of $6,073 and $5,323 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$14.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.20M	shares	Point-in-time
Property and equipment, net of $6,073 and $5,323 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$13.09M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.15M	shares	Point-in-time
Goodwill	`Goodwill`	$16.96M	USD	Point-in-time
Goodwill	`Goodwill`	$55.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.96M	shares	Point-in-time
Goodwill	`Goodwill`	$66.90M	USD	Point-in-time
Identifiable intangible assets, net of $5,382 and $4,592 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$29.37M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockNumberOfSharesHeld`	45,000.00	shares	Point-in-time
Identifiable intangible assets, net of $5,382 and $4,592 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$22.47M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockNumberOfSharesHeld`	45,000.00	shares	Point-in-time
Deferred tax asset, long-term	`DeferredTaxAssetsNetNoncurrent`	$79.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$764.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$829.00K	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$92.27M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$111.20M	USD	Point-in-time
Total assets	`Assets`	$265.25M	USD	Point-in-time
Total assets	`Assets`	$400.45M	USD	Point-in-time
Total assets	`Assets`	$413.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.11M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$2.69M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$3.52M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$20.41M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$21.12M	USD	Point-in-time
Current maturities of notes payable and capital leases	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$491.00K	USD	Point-in-time
Current maturities of notes payable and capital leases	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$791.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.79M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.59M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$108.28M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$109.72M	USD	Point-in-time
Notes payable and capital leases, net of current maturities	`NotesPayableAndCapitalLeasesNetOfCurrentMaturitiesExcludingConvertibleDebt`	$1.12M	USD	Point-in-time
Notes payable and capital leases, net of current maturities	`NotesPayableAndCapitalLeasesNetOfCurrentMaturitiesExcludingConvertibleDebt`	$676.00K	USD	Point-in-time
Deferred tax liability, long term	`DeferredTaxLiabilitiesNoncurrent`	$6.86M	USD	Point-in-time
Deferred tax liability, long term	`DeferredTaxLiabilitiesNoncurrent`	$6.78M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.77M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.38M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$121.46M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$119.12M	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares; 74,275 shares issued and outstanding	`PreferredStockValue`	$42.79M	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares; 74,275 shares issued and outstanding	`PreferredStockValue`	$42.79M	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 18,197,929 and 18,002,985 shares issued, respectively; and 18,152,929 and 17,957,985 shares outstanding, respectively	`CommonStockValue`	$18.00K	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 18,197,929 and 18,002,985 shares issued, respectively; and 18,152,929 and 17,957,985 shares outstanding, respectively	`CommonStockValue`	$18.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$266.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$262.64M	USD	Point-in-time
Treasury stock, at cost, 45,000 shares held	`TreasuryStockValue`	$107.00K	USD	Point-in-time
Treasury stock, at cost, 45,000 shares held	`TreasuryStockValue`	$107.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$245.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$233.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$413.21M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$400.45M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$114.00M	USD	1 Quarter
Revenue	`Revenues`	$44.56M	USD	1 Quarter
Direct expense	`DirectOperatingCosts`	$97.74M	USD	1 Quarter
Direct expense	`DirectOperatingCosts`	$37.79M	USD	1 Quarter
Gross margin	`GrossProfit`	$16.26M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.77M	USD	1 Quarter
Sales general and administrative expense	`GeneralAndAdministrativeExpense`	$27.63M	USD	1 Quarter
Sales general and administrative expense	`GeneralAndAdministrativeExpense`	$11.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.22M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.37M	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncome`	$21.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncome`	$109.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.00K	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-14.32M	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.21M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$222.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$750.00K	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$743.00K	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.44M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.29M	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.36	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.85	USD	1 Quarter
Net loss	`EarningsPerShareDiluted`	$-0.85	USD	1 Quarter
Net loss	`EarningsPerShareDiluted`	$-0.36	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	18.03M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	9.50M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.50M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.03M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$53.00K	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$231.00K	USD	1 Quarter
Depreciation & amortization expense	`DepreciationAndAmortization`	$317.00K	USD	1 Quarter
Depreciation & amortization expense	`DepreciationAndAmortization`	$1.55M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.03M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.10M	USD	1 Quarter
Accretion of debt	`AccretionExpense`	$1.44M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$200.00K	USD	1 Quarter
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$1.98M	USD	1 Quarter
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$9.77M	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$135.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxes`	$-814.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxes`	$-1.74M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-6.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.78M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$68.00K	USD	1 Quarter
Other long-term assets and advances	`IncreaseDecreaseInOtherNoncurrentAssets`	$102.00K	USD	1 Quarter
Other long-term assets and advances	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.82M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.28M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.28M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$403.00K	USD	1 Quarter
Cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.78M	USD	1 Quarter
Cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-28.01M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$16.56M	USD	1 Quarter
Proceeds from sale of business interests	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	$125.00K	USD	1 Quarter
Payment of acquisition earn-out	`PaymentsForPreviousAcquisition`	$450.00K	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.08M	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$836.00K	USD	1 Quarter
Cash Flows used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.29M	USD	1 Quarter
Cash Flows used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.52M	USD	1 Quarter
Credit line, net activity	`ProceedsFromRepaymentsOfLinesOfCredit`	$478.00K	USD	1 Quarter
Payments of notes payable and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$284.00K	USD	1 Quarter
Payments of notes payable and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.08M	USD	1 Quarter
Excess tax benefit from stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$167.00K	USD	1 Quarter
Proceeds from stock offering, net	`ProceedsFromIssuanceOfCommonStock`	$137.00M	USD	Point-in-time
Proceeds from stock offering, net	`ProceedsFromIssuanceOfCommonStock`	$136.99M	USD	1 Quarter
Proceeds from exercise of options, net	`ProceedsFromStockOptionsExercised`	$233.00K	USD	1 Quarter
Proceeds from exercise of options, net	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Payment of tax withholdings for shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$31.00K	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$750.00K	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$743.00K	USD	1 Quarter
Cash flows (used)/provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$134.55M	USD	1 Quarter
Cash flows (used)/provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-570.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-11.00K	USD	1 Quarter
Net (decrease)/increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$130.49M	USD	1 Quarter
Net (decrease)/increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-46.11M	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$204.50M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.01M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$204.50M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.01M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$12.00K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$3.33M	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$732.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$84.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$245.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$233.40M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.69M	USD	1 Quarter
Issuance of common stock for option exercise	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.00K	USD	1 Quarter
Issuance of common stock for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$2.57M	USD	1 Quarter
Tax witholdings for share exercises	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$30.00K	USD	1 Quarter
Sale of business interest	`AdjustmentsToAdditionalPaidInCapitalOther`	$-24.00K	USD	1 Quarter
Dividend paid	`DividendsCash`	$743.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.10M	USD	1 Quarter
Balance	`StockholdersEquity`	$245.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$233.40M	USD	Point-in-time

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