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10-Q Filing

LITHIA MOTORS INC CIK: 1023128 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001437749-13-004791
Period End Date 20130331
Filing Date 20130426
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance lad-20130331.xml
Filing Contents
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $336.00K USD Point-in-time
Allowance for doubtful accounts (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $141.00K USD Point-in-time
Accumulated depreciation (in Dollars) AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $98.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $42.84M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Accumulated depreciation (in Dollars) AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $97.88M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $8.96M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.01M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $141 and $336 ReceivablesNetCurrent $134.11M USD Point-in-time
Preferred stock, par value (in Dollars per share) (in Dollars per share) PreferredStockParOrStatedValuePerShare - USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $141 and $336 ReceivablesNetCurrent $133.15M USD Point-in-time
Preferred stock, par value (in Dollars per share) (in Dollars per share) PreferredStockParOrStatedValuePerShare - USD Point-in-time
Preferred stock, shares authorized (in Shares) PreferredStockSharesAuthorized 15.00M shares Point-in-time
Inventories, net InventoryNet $714.12M USD Point-in-time
Preferred stock, shares authorized (in Shares) PreferredStockSharesAuthorized 15.00M shares Point-in-time
Inventories, net InventoryNet $723.33M USD Point-in-time
Preferred stock, shares outstanding (in Shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $3.83M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $3.08M USD Point-in-time
Preferred stock, shares outstanding (in Shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Other current assets OtherAssetsCurrent $17.48M USD Point-in-time
Other current assets OtherAssetsCurrent $11.73M USD Point-in-time
Assets held for sale AssetsHeldForSaleCurrent $12.58M USD Point-in-time
Assets held for sale AssetsHeldForSaleCurrent $13.00M USD Point-in-time
Total Current Assets AssetsCurrent $933.21M USD Point-in-time
Total Current Assets AssetsCurrent $891.04M USD Point-in-time
Property and equipment, net of accumulated depreciation of $98,328 and $97,883 PropertyPlantAndEquipmentNet $427.94M USD Point-in-time
Property and equipment, net of accumulated depreciation of $98,328 and $97,883 PropertyPlantAndEquipmentNet $425.09M USD Point-in-time
Goodwill Goodwill $32.05M USD Point-in-time
Goodwill Goodwill $32.05M USD Point-in-time
Goodwill Goodwill $18.96M USD Point-in-time
Franchise value IndefiniteLivedFranchiseRights $62.43M USD Point-in-time
Franchise value IndefiniteLivedFranchiseRights $62.43M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $20.70M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $17.12M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $25.55M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $22.81M USD Point-in-time
Total Assets Assets $1.49B USD Point-in-time
Total Assets Assets $1.46B USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $13.45M USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $15.54M USD Point-in-time
Floor plan notes payable: non-trade FloorPlanNotesPayableNonTrade $568.13M USD Point-in-time
Floor plan notes payable: non-trade FloorPlanNotesPayableNonTrade $567.98M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $8.18M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $7.48M USD Point-in-time
Trade payables AccountsPayableCurrent $41.59M USD Point-in-time
Trade payables AccountsPayableCurrent $41.34M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $81.60M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $87.79M USD Point-in-time
Liabilities related to assets held for sale LiabilitiesOfAssetsHeldForSale $8.66M USD Point-in-time
Liabilities related to assets held for sale LiabilitiesOfAssetsHeldForSale $8.35M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $728.80M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $721.30M USD Point-in-time
Long-term debt, less current maturities LongTermDebtAndCapitalLeaseObligations $222.25M USD Point-in-time
Long-term debt, less current maturities LongTermDebtAndCapitalLeaseObligations $286.88M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $33.59M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $35.25M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $22.83M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $25.60M USD Point-in-time
Total Liabilities Liabilities $1.01B USD Point-in-time
Total Liabilities Liabilities $1.06B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $12.40M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $15.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.11M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.62M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $149.17M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $171.23M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $428.10M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $447.80M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $1.46B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $1.49B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Sales revenue Revenues $903.08M USD 1 Quarter
Sales revenue Revenues $738.25M USD 1 Quarter
Cost of revenue CostOfRevenue $756.64M USD 1 Quarter
Cost of revenue CostOfRevenue $613.91M USD 1 Quarter
Gross profit GrossProfit $124.33M USD 1 Quarter
Gross profit GrossProfit $146.44M USD 1 Quarter
Asset impairments AssetImpairmentCharges $115.00K USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $88.44M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $101.13M USD 1 Quarter
Operating income OperatingIncomeLoss $31.64M USD 1 Quarter
Operating income OperatingIncomeLoss $40.59M USD 1 Quarter
Floor plan interest expense FloorplanInterestExpense $3.45M USD 1 Quarter
Floor plan interest expense FloorplanInterestExpense $2.90M USD 1 Quarter
Other interest expense InterestExpenseDebt $2.73M USD 1 Quarter
Other interest expense InterestExpenseDebt $2.36M USD 1 Quarter
Other income, net OtherIncome $498.00K USD 1 Quarter
Other income, net OtherIncome $801.00K USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $35.58M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $26.51M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $13.70M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $9.88M USD 1 Quarter
Income from continuing operations, net of income tax IncomeLossFromContinuingOperations $21.88M USD 1 Quarter
Income from continuing operations, net of income tax IncomeLossFromContinuingOperations $16.63M USD 1 Quarter
Income from discontinued operations, net of income tax IncomeLossFromDiscontinuedOperationsNetOfTax $162.00K USD 1 Quarter
Income from discontinued operations, net of income tax IncomeLossFromDiscontinuedOperationsNetOfTax $173.00K USD 1 Quarter
Net income NetIncomeLoss $22.05M USD 1 Quarter
Net income NetIncomeLoss $16.80M USD 1 Quarter
Basic income per share from continuing operations (in Dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.85 USD 1 Quarter
Basic income per share from continuing operations (in Dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.64 USD 1 Quarter
Basic income per share from discontinued operations (in Dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.01 USD 1 Quarter
Basic income per share from discontinued operations (in Dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.01 USD 1 Quarter
Basic net income per share (in Dollars per share) EarningsPerShareBasic $0.86 USD 1 Quarter
Basic net income per share (in Dollars per share) EarningsPerShareBasic $0.65 USD 1 Quarter
Shares used in basic per share calculations (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 25.63M shares 1 Quarter
Shares used in basic per share calculations (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 25.99M shares 1 Quarter
Diluted income per share from continuing operations (in Dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.63 USD 1 Quarter
Diluted income per share from continuing operations (in Dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.84 USD 1 Quarter
Diluted income per share from discontinued operations (in Dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.01 USD 1 Quarter
Diluted net income per share (in Dollars per share) EarningsPerShareDiluted $0.63 USD 1 Quarter
Diluted net income per share (in Dollars per share) EarningsPerShareDiluted $0.85 USD 1 Quarter
Shares used in diluted per share calculations (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 26.48M shares 1 Quarter
Shares used in diluted per share calculations (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 26.05M shares 1 Quarter
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $22.05M USD 1 Quarter
Net income NetIncomeLoss $16.80M USD 1 Quarter
Asset impairments AssetImpairmentCharges $115.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.14M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $576.00K USD 1 Quarter
Gain on disposal of other assets GainLossOnSaleOfPropertyPlantEquipment $19.00K USD 1 Quarter
Gain on disposal of other assets GainLossOnSaleOfPropertyPlantEquipment $988.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-870.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-206.00K USD 1 Quarter
Excess tax benefit from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $2.94M USD 1 Quarter
Excess tax benefit from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $749.00K USD 1 Quarter
Trade receivables, net IncreaseDecreaseInAccountsAndOtherReceivables $11.63M USD 1 Quarter
Trade receivables, net IncreaseDecreaseInAccountsAndOtherReceivables $960.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-7.89M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $62.11M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-5.29M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-5.76M USD 1 Quarter
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $-2.78M USD 1 Quarter
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $424.00K USD 1 Quarter
Floor plan notes payable IncreaseDecreaseInVehicleFloorplanPayableTradeNet $2.26M USD 1 Quarter
Floor plan notes payable IncreaseDecreaseInVehicleFloorplanPayableTradeNet $-3.32M USD 1 Quarter
Trade payables IncreaseDecreaseInAccountsPayable $-410.00K USD 1 Quarter
Trade payables IncreaseDecreaseInAccountsPayable $1.55M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $6.19M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $5.11M USD 1 Quarter
Other long-term liabilities and deferred revenue IncreaseDecreaseInOtherOperatingLiabilities $4.71M USD 1 Quarter
Other long-term liabilities and deferred revenue IncreaseDecreaseInOtherOperatingLiabilities $2.28M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $49.76M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-40.99M USD 1 Quarter
Principal payments received on notes receivable ProceedsFromCollectionOfNotesReceivable $319.00K USD 1 Quarter
Principal payments received on notes receivable ProceedsFromCollectionOfNotesReceivable $25.00K USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $8.46M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $6.58M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $1.01M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $440.00K USD 1 Quarter
Payments for life insurance policies PaymentsForProceedsFromLifeInsurancePolicies $1.97M USD 1 Quarter
Payments for life insurance policies PaymentsForProceedsFromLifeInsurancePolicies $2.64M USD 1 Quarter
Proceeds from sales of stores ProceedsFromDivestitureOfBusinessesNetOfCashDivested $2.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-6.49M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-8.47M USD 1 Quarter
Borrowings on floor plan notes payable: non-trade IncreaseDecreaseInVehicleFloorplanPayableNonTradeNet $39.40M USD 1 Quarter
Borrowings on floor plan notes payable: non-trade IncreaseDecreaseInVehicleFloorplanPayableNonTradeNet $953.00K USD 1 Quarter
Borrowings on lines of credit ProceedsFromLinesOfCredit $5.00M USD 1 Quarter
Borrowings on lines of credit ProceedsFromLinesOfCredit $118.00M USD 1 Quarter
Repayments on lines of credit RepaymentsOfLinesOfCredit $156.30M USD 1 Quarter
Repayments on lines of credit RepaymentsOfLinesOfCredit $12.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $8.07M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $869.00K USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $966.00K USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $7.90M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $2.65M USD 1 Quarter
Excess tax benefit from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $2.94M USD 1 Quarter
Excess tax benefit from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $749.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $1.81M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $35.59M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-69.12M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-27.83M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-11.89M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $42.84M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $8.96M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $15.01M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $42.84M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $8.96M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $15.01M USD Point-in-time
Cash paid during the period for interest InterestPaid $5.84M USD 1 Quarter
Cash paid during the period for interest InterestPaid $5.79M USD 1 Quarter
Cash paid (refunded) during the period for income taxes, net IncomeTaxesPaid $2.12M USD 1 Quarter
Cash paid (refunded) during the period for income taxes, net IncomeTaxesPaid $-964.00K USD 1 Quarter
Floor plan debt paid in connection with store disposals NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1 $6.71M USD 1 Quarter
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Gain (loss) on cash flow hedges, tax expense (benefit) (in Dollars) OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $265.00K USD 1 Quarter
Net income NetIncomeLoss $22.05M USD 1 Quarter
Gain (loss) on cash flow hedges, tax expense (benefit) (in Dollars) OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $315.00K USD 1 Quarter
Net income NetIncomeLoss $16.80M USD 1 Quarter
Gain on cash flow hedges, net of tax expense of $315 and $265 OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $506.00K USD 1 Quarter
Gain on cash flow hedges, net of tax expense of $315 and $265 OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $426.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $22.56M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $17.22M USD 1 Quarter

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

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