10-Q Filing

LITHIA MOTORS INC CIK: 1023128 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-030369`
Period End Date	20160331
Filing Date	20160429
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	lad-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 34 Cash Flow Statement 76 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.73M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.90M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$137.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$145.03M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,729 and $2,243	`AccountsReceivableNetCurrent`	$286.29M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,729 and $2,243	`AccountsReceivableNetCurrent`	$308.46M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$1.54B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.47B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$54.41M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$50.47M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.90B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.88B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $145,033 and $137,853	`PropertyPlantAndEquipmentNet`	$882.40M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $145,033 and $137,853	`PropertyPlantAndEquipmentNet`	$876.66M	USD	Point-in-time
Goodwill	`Goodwill`	$199.38M	USD	Point-in-time
Goodwill	`Goodwill`	$213.93M	USD	Point-in-time
Goodwill	`Goodwill`	$213.22M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$161.67M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$150.89M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$157.70M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$100.86M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$110.20M	USD	Point-in-time
Total Assets	`Assets`	$3.27B	USD	Point-in-time
Total Assets	`Assets`	$3.23B	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$48.08M	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$55.84M	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.30B	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.27B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$38.89M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$33.72M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$78.25M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$70.87M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$167.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$179.15M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.64B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.59B	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$606.46M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$595.66M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$70.07M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$66.73M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$53.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$59.13M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$81.98M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$84.38M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.40B	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.45B	USD	Point-in-time
Preferred stock - no par value; authorized 15,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - no par value; authorized 15,000 shares; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$34.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$38.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-277.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-114.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$566.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$530.89M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$828.16M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$814.68M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.27B	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.23B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.79B	USD	1 Quarter
Revenues	`Revenues`	$1.98B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.52B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.68B	USD	1 Quarter
Gross profit	`GrossProfit`	$273.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$307.18M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$3.50M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$4.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$191.62M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$219.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$72.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$67.90M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$5.91M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$4.65M	USD	1 Quarter
Other interest expense	`InterestExpenseDebt`	$4.83M	USD	1 Quarter
Other interest expense	`InterestExpenseDebt`	$5.46M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.53M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-368.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$58.06M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$60.02M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$19.75M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$17.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$1.55	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$1.56	USD	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.28M	shares	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.82M	shares	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$1.55	USD	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$1.53	USD	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.52M	shares	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.97M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$3.50M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$4.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.73M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.15M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.73M	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.39M	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	1 Quarter
Gain on disposal of franchise	`GainLossOnSaleOfBusiness`	$1.09M	USD	1 Quarter
Gain on disposal of franchise	`GainLossOnSaleOfBusiness`	$3.35M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.86M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$10.26M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.38M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.73M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-25.56M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-7.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$39.46M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$73.74M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.08M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.71M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseInVehicleFloorPlanPayableTradeNet`	$-1.09M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseInVehicleFloorPlanPayableTradeNet`	$-7.75M	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$920.00K	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$6.80M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$13.43M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.44M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.84M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$5.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.23M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.59M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.92M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.90M	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$92.00K	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$103.00K	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$11.45M	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$9.80M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.80M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$3.68M	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$11.82M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.94M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.23M	USD	1 Quarter
Borrowings on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$38.63M	USD	1 Quarter
Borrowings on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$-21.98M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$271.02M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$213.12M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$293.96M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$229.31M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$12.08M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$50.35M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.04M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.46M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$57.74M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$10.34M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.22M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$5.15M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-28.81M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.17M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.45M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.88M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$12.49M	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$12.99M	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$6.54M	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$497.00K	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`NotesReduction`	$2.21M	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`NotesReduction`	$5.28M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Gain on cash flow hedges, tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$103.00K	USD	1 Quarter
Gain on cash flow hedges, tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$86.00K	USD	1 Quarter
Gain on cash flow hedges, net of tax expense of $103 and $86	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$139.00K	USD	1 Quarter
Gain on cash flow hedges, net of tax expense of $103 and $86	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$163.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$40.43M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$40.79M	USD	1 Quarter

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