10-Q Filing

XPO, INC. CIK: 1166003 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-180414`
Period End Date	20140331
Filing Date	20140502
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	xpo-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 93 Income Statement 33 Cash Flow Statement 63 Stockholders Equity 12

Balance Sheet 93 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.07M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.54M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.80M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$15.41M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$22.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.89M	USD	Point-in-time
Accounts receivable, net of allowances of $5,066 and $3,539, respectively	`AccountsReceivableNetCurrent`	$134.23M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $5,066 and $3,539, respectively	`AccountsReceivableNetCurrent`	$342.75M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.94M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.52M	USD	Point-in-time
Deferred tax asset, current	`DeferredTaxAssetsNetCurrent`	$6.18M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	74,175.00	shares	Point-in-time
Deferred tax asset, current	`DeferredTaxAssetsNetCurrent`	$3.04M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	73,335.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	73,335.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	74,175.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$170.03M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$512.20M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net of $15,658 and $11,803 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$98.82M	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
Property and equipment, net of $15,658 and $11,803 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$56.57M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.58M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.57M	shares	Point-in-time
Goodwill	`Goodwill`	$539.17M	USD	Point-in-time
Goodwill	`Goodwill`	$363.45M	USD	Point-in-time
Goodwill	`Goodwill`	$66.90M	USD	Point-in-time
Identifiable intangible assets, net of $22,722 and $15,411 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$250.20M	USD	Point-in-time
Identifiable intangible assets, net of $22,722 and $15,411 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$185.18M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.54M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	52.53M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockNumberOfSharesHeld`	45,000.00	shares	Point-in-time
Deferred tax asset, long-term	`DeferredTaxAssetsNetNoncurrent`	$72.00K	USD	Point-in-time
Deferred tax asset, long-term	`DeferredTaxAssetsNetNoncurrent`	$511.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockNumberOfSharesHeld`	45,000.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$13.33M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$2.14M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.80M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$9.52M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$610.21M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$911.55M	USD	Point-in-time
Total assets	`Assets`	$1.42B	USD	Point-in-time
Total assets	`Assets`	$780.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$227.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.39M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$19.26M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$11.74M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$9.49M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$45.95M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.78M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.03M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.49M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$301.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$99.33M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$106.27M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$99.84M	USD	Point-in-time
Revolving credit facility and other long-term debt, net of current maturities	`LongTermLineOfCredit`	$75.37M	USD	Point-in-time
Revolving credit facility and other long-term debt, net of current maturities	`LongTermLineOfCredit`	$470.00K	USD	Point-in-time
Deferred tax liability, long-term	`DeferredTaxLiabilitiesNoncurrent`	$24.79M	USD	Point-in-time
Deferred tax liability, long-term	`DeferredTaxLiabilitiesNoncurrent`	$15.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.66M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$28.22M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$157.77M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$225.06M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares; 73,335 and 74,175 shares issued and outstanding, respectively	`PreferredStockValue`	$42.74M	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares; 73,335 and 74,175 shares issued and outstanding, respectively	`PreferredStockValue`	$42.26M	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 52,570,800 and 30,583,073 shares issued, respectively; and 52,525,800 and 30,538,073 shares outstanding, respectively	`CommonStockValue`	$30.00K	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 52,570,800 and 30,583,073 shares issued, respectively; and 52,525,800 and 30,538,073 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.06B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$524.97M	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`	$-140.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-111.79M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$455.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$964.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$780.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.42B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$114.00M	USD	1 Quarter
Revenue	`Revenues`	$282.40M	USD	1 Quarter
Cost of purchased transportation and services	`ShippingHandlingAndTransportationCosts`	$224.01M	USD	1 Quarter
Cost of purchased transportation and services	`ShippingHandlingAndTransportationCosts`	$97.74M	USD	1 Quarter
Direct operating expense	`DirectOperatingCosts`	$3.88M	USD	1 Quarter
Sales, general and administrative expense	`GeneralAndAdministrativeExpense`	$27.63M	USD	1 Quarter
Sales, general and administrative expense	`GeneralAndAdministrativeExpense`	$75.88M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$303.76M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$125.37M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.37M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-21.36M	USD	1 Quarter
Other expense (income)	`OtherNonoperatingIncomeExpense`	$109.00K	USD	1 Quarter
Other expense (income)	`OtherNonoperatingIncomeExpense`	$-15.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.06M	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-31.43M	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-14.32M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-3.30M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$222.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$742.00K	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$743.00K	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.29M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-28.88M	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.70	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.85	USD	1 Quarter
Net loss	`EarningsPerShareDiluted`	$-0.70	USD	1 Quarter
Net loss	`EarningsPerShareDiluted`	$-0.85	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	18.03M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	41.31M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.03M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.31M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-28.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$231.00K	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.27M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.21M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.10M	USD	1 Quarter
Accretion of debt	`AccretionExpense`	$1.44M	USD	1 Quarter
Accretion of debt	`AccretionExpense`	$1.43M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$211.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-2.06M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$56.41M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.77M	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$135.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-4.53M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxes`	$-814.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxes`	$2.30M	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.00K	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-114.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$96.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.42M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$48.68M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$10.18M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.66M	USD	1 Quarter
Cash flows used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-28.02M	USD	1 Quarter
Cash flows used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.74M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$190.96M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$16.56M	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.94M	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.08M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-246.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-125.00K	USD	1 Quarter
Cash flows used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-194.65M	USD	1 Quarter
Cash flows used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.52M	USD	1 Quarter
Repayment of borrowings on revolving debt facility	`RepaymentsOfLongTermLinesOfCredit`	$75.00M	USD	1 Quarter
Proceeds from stock offering, net	`ProceedsFromIssuanceOfCommonStock`	$239.50M	USD	Point-in-time
Proceeds from stock offering, net	`ProceedsFromIssuanceOfCommonStock`	$413.20M	USD	Point-in-time
Proceeds from stock offering, net	`ProceedsFromIssuanceOfCommonStock`	$413.18M	USD	1 Quarter
Payment for cash held as collateral in lending arrangement	`PaymentForCashHeldAsCollateralInLendingArrangement`	$11.27M	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$743.00K	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$742.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$173.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-417.00K	USD	1 Quarter
Cash flows provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$325.75M	USD	1 Quarter
Cash flows provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-570.00K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$122.36M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-46.11M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.52M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$206.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$252.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.52M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$143.89M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$3.33M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$4.29M	USD	1 Quarter
Cash (received) paid for income taxes	`IncomeTaxesPaidNet`	$732.00K	USD	1 Quarter
Cash (received) paid for income taxes	`IncomeTaxesPaidNet`	$-1.51M	USD	1 Quarter
Equity portion of acquisition purchase price	`BusinessAcquisitionCostOfAcquiredEntityAmountOfPurchasePrice`	$108.81M	USD	1 Quarter
Equity portion of acquisition purchase price	`BusinessAcquisitionCostOfAcquiredEntityAmountOfPurchasePrice`	$2.57M	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$455.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$964.78M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-28.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.54M	USD	1 Quarter
Exercise of warrants and stock options and other	`StockIssuedDuringPeriodValueStockOptionsWarrantsAndOtherExercised`	$923.00K	USD	1 Quarter
Proceeds from common stock offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$413.18M	USD	1 Quarter
Issuance of common stock for acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$108.81M	USD	1 Quarter
Issuance of common stock upon conversion of senior notes, net of tax	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$12.69M	USD	1 Quarter
Dividend paid	`DividendsCash`	$742.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$2.21M	USD	1 Quarter
Balance	`StockholdersEquity`	$455.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$964.78M	USD	Point-in-time

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