10-Q Filing

MARTEN TRANSPORT LTD CIK: 799167 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-008703`
Period End Date	20150331
Filing Date	20150504
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	mrtn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 39 Cash Flow Statement 56 Stockholders Equity 23

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$123.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.65M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$72.26M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$68.69M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other	`NontradeReceivablesCurrent`	$17.74M	USD	Point-in-time
Other	`NontradeReceivablesCurrent`	$3.48M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	48.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	48.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$15.17M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$16.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.20M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.42M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.15M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.50M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$110.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$112.17M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.42M	shares	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$651.23M	USD	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$645.97M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$180.22M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$186.37M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$464.86M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$465.75M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.73M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.58M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$580.61M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$579.66M	USD	Point-in-time
Checks issued in excess of cash balances	`BankOverdrafts`	$745.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$41.98M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$29.77M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$14.00M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$14.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.82M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$24.37M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$122.84M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$125.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$181.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$191.73M	USD	Point-in-time
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value per share; 48,000,000 shares authorized; 33,503,392 shares at March 31, 2015, and 33,418,829 shares at December 31, 2014, issued and outstanding	`CommonStockValue`	$335.00K	USD	Point-in-time
Common stock, $.01 par value per share; 48,000,000 shares authorized; 33,503,392 shares at March 31, 2015, and 33,418,829 shares at December 31, 2014, issued and outstanding	`CommonStockValue`	$334.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$88.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$87.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$300.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$309.57M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$364.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$398.70M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$387.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.14M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$580.61M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$579.66M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
OPERATING REVENUE	`Revenues`	$161.29M	USD	1 Quarter
OPERATING REVENUE	`Revenues`	$159.41M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$43.73M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$48.81M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$28.13M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$29.50M	USD	1 Quarter
Fuel and fuel taxes	`FuelCosts`	$39.83M	USD	1 Quarter
Fuel and fuel taxes	`FuelCosts`	$26.48M	USD	1 Quarter
Supplies and maintenance	`MaintenanceCosts`	$10.44M	USD	1 Quarter
Supplies and maintenance	`MaintenanceCosts`	$10.44M	USD	1 Quarter
Depreciation	`Depreciation`	$17.83M	USD	1 Quarter
Depreciation	`Depreciation`	$16.37M	USD	1 Quarter
Operating taxes and licenses	`CostOfServicesDirectTaxesAndLicensesCosts`	$1.71M	USD	1 Quarter
Operating taxes and licenses	`CostOfServicesDirectTaxesAndLicensesCosts`	$1.88M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$8.09M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$6.12M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$1.43M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$1.53M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$3.67M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$4.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$150.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$143.98M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$8.64M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$17.31M	USD	1 Quarter
OTHER	`NonoperatingIncomeExpense`	$-15.00K	USD	1 Quarter
OTHER	`NonoperatingIncomeExpense`	$98.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.74M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.30M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$7.11M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$3.45M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.29M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$10.19M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$24.55M	USD	3 Qtrs
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.03	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.03	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.55M	USD	3 Qtrs
Depreciation	`Depreciation`	$17.83M	USD	1 Quarter
Depreciation	`Depreciation`	$16.37M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.31M	USD	1 Quarter
Tax benefits from share-based payment arrangement exercises	`DeferredTaxExpenseFromStockOptionsExercised`	$178.00K	USD	1 Quarter
Tax benefits from share-based payment arrangement exercises	`DeferredTaxExpenseFromStockOptionsExercised`	$50.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangement exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$5.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangement exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$159.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$273.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$211.00K	USD	1 Quarter
Equity in earnings from affiliate	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$-159.00K	USD	1 Quarter
Equity in earnings from affiliate	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$37.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-1.79M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-18.70M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.69M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.91M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.07M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.03M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInOtherAccruedLiabilities`	$834.00K	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInOtherAccruedLiabilities`	$443.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.51M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$53.16M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$14.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$9.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.76M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.38M	USD	1 Quarter
Borrowings under credit facility and long-term debt	`ProceedsFromLongTermLinesOfCredit`	$13.44M	USD	1 Quarter
Repayment of borrowings under credit facility and long-term debt	`RepaymentsOfLongTermLinesOfCredit`	$37.82M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$837.00K	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$834.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$973.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$370.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangement exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$159.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangement exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.00K	USD	1 Quarter
Change in net checks issued in excess of cash balances	`IncreaseDecreaseInBookOverdrafts`	$-745.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-459.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.82M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.58M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.67M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.32M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$123.00K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.65M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$19.32M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$123.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$13.65M	USD	Point-in-time
Change in property and equipment not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$3.47M	USD	1 Quarter
Change in property and equipment not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$5.32M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-12.14M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.35M	USD	1 Quarter
Interest	`InterestPaid`	$28.00K	USD	1 Quarter
Interest	`InterestPaid`	$24.00K	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$364.22M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$398.70M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$387.93M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.14M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.55M	USD	3 Qtrs
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	$370.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	$844.00K	USD	3 Qtrs
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	$973.00K	USD	1 Quarter
Tax benefits from share-based payment arrangement exercises	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$50.00K	USD	1 Quarter
Tax benefits from share-based payment arrangement exercises	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$109.00K	USD	3 Qtrs
Tax benefits from share-based payment arrangement exercises	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$178.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$211.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$273.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$710.00K	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$837.00K	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$834.00K	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$2.50M	USD	3 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$364.22M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$398.70M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$387.93M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.14M	USD	Point-in-time

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