10-Q Filing

Custom Truck One Source, Inc. CIK: 1709682 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001213900-18-010463`
Period End Date	20180630
Filing Date	20180808
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	cic-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 25 Cash Flow Statement 43

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Preference shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preference shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preference shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preference shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preference shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Preference shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$234.95K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Preference shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$63.90K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$106.92K	USD	Point-in-time
Preference shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$608.84K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$458.22K	USD	Point-in-time
Cash held in Trust Account	`AssetsHeldInTrustNoncurrent`	$402.50M	USD	Point-in-time
Cash held in Trust Account	`AssetsHeldInTrustNoncurrent`	$404.63M	USD	Point-in-time
Total Assets	`Assets`	$405.09M	USD	Point-in-time
Total Assets	`Assets`	$403.11M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$176.47K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$180.67K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$176.47K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$180.67K	USD	Point-in-time
Deferred underwriting fee	`DeferredUnderwritingFee`	$14.09M	USD	Point-in-time
Deferred underwriting fee	`DeferredUnderwritingFee`	$14.09M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.27M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A Ordinary Shares, subject to possible redemption, 38,390,098 and 38,384,487 shares at redemption value as of June 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$383.84M	USD	Point-in-time
Class A Ordinary Shares, subject to possible redemption, 38,390,098 and 38,384,487 shares at redemption value as of June 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$385.82M	USD	Point-in-time
Preference Shares, $0.0001 par value; 1,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference Shares, $0.0001 par value; 1,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.78M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$1.20M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-777.47K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$403.11M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$405.09M	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingCostsAndExpenses`	$5.05K	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$904.82K	USD	2 Qtrs
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	38.39M	shares	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$491.57K	USD	1 Quarter
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	38.39M	shares	1 Quarter
Net income (loss) per ordinary share - basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$2.03M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-904.82K	USD	2 Qtrs
Net income (loss) per ordinary share - basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$726.62K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.05K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-491.57K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.88M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.51M	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-1.18K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.98M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.05K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.92M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.75M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.91M	shares	1 Quarter
Basic and diluted net income (loss) per ordinary share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net income (loss) per ordinary share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net income (loss) per ordinary share	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.98M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.05K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.88M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.51M	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-1.18K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-43.02K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.20K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-857.60K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.05K	USD	1 Quarter
Cash withdrawn from the Trust Account	`ProceedsFromHedgeInvestingActivities`	$750.00K	USD	2 Qtrs
Cash withdrawn from the Trust Account	`ProceedsFromHedgeInvestingActivities`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$750.00K	USD	2 Qtrs
Proceeds from issuance of Class B ordinary shares to initial shareholders	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of Class B ordinary shares to initial shareholders	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Advances from officer	`ProceedsFromRelatedPartyDebt`	$5.00K	USD	1 Quarter
Advances from officer	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from note payable to shareholder	`ProceedsFromNotesPayable`	$250.00K	USD	1 Quarter
Proceeds from note payable to shareholder	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Payment of offering costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Payment of offering costs	`PaymentsOfFinancingCosts`	$40.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$240.00K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$234.95K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-107.60K	USD	2 Qtrs
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$234.95K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$234.95K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Change in value of ordinary shares subject to redemption	`ChangeInValueOfOrdinarySharesSubjectToRedemption`	-	USD	1 Quarter
Change in value of ordinary shares subject to redemption	`ChangeInValueOfOrdinarySharesSubjectToRedemption`	$1.98M	USD	2 Qtrs
Offering costs included in accrued offering costs	`AccruedOfferingCosts`	-	USD	2 Qtrs
Offering costs included in accrued offering costs	`AccruedOfferingCosts`	$37.98K	USD	1 Quarter

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