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10-Q Filing

RUSH ENTERPRISES INC TX CIK: 1012019 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001437749-16-031397
Period End Date 20160331
Filing Date 20160510
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance rusha-20160331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $191.46M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $47.27M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $64.85M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $72.66M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $150.37M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $156.98M USD Point-in-time
Note receivable affiliate DueFromRelatedPartiesCurrent $10.61M USD Point-in-time
Note receivable affiliate DueFromRelatedPartiesCurrent $11.87M USD Point-in-time
Inventories, net InventoryNet $1.06B USD Point-in-time
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
Inventories, net InventoryNet $1.03B USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $32.95M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $11.57M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares 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
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent - USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $19.30M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Total current assets AssetsCurrent $1.30B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Total current assets AssetsCurrent $1.33B USD Point-in-time
Investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $6.65M USD Point-in-time
Investments AvailableForSaleSecuritiesDebtSecuritiesNoncurrent $6.65M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.17B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.15B USD Point-in-time
Goodwill, net Goodwill $285.04M USD Point-in-time
Goodwill, net Goodwill $286.01M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $58.65M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $60.91M USD Point-in-time
Total assets Assets $2.80B USD Point-in-time
Total assets Assets $2.74B USD Point-in-time
Total assets Assets $2.85B USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $825.99M USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $854.76M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $150.39M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $151.02M USD Point-in-time
Current maturities of capital lease obligations CapitalLeaseObligationsCurrent $14.99M USD Point-in-time
Current maturities of capital lease obligations CapitalLeaseObligationsCurrent $14.69M USD Point-in-time
Liabilities directly associated with assets held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent - USD Point-in-time
Liabilities directly associated with assets held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.23M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $103.73M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $120.25M USD Point-in-time
Customer deposits CustomerDepositsCurrent $24.71M USD Point-in-time
Customer deposits CustomerDepositsCurrent $22.44M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $83.87M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $79.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.20B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.25B USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $485.82M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $496.73M USD Point-in-time
Capital lease obligations, net of current maturities CapitalLeaseObligationsNoncurrent $71.50M USD Point-in-time
Capital lease obligations, net of current maturities CapitalLeaseObligationsNoncurrent $69.07M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $5.32M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $5.28M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $181.40M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $188.99M USD Point-in-time
Common stock, par value $.01 per share; 60,000,000 class A shares and 20,000,000 class B shares authorized; 30,513,909 class A shares and 10,279,281 class B shares outstanding in 2016; and 30,303,818 class A shares and 10,093,305 class B shares outstanding in 2015 CommonStockValue $434.00K USD Point-in-time
Common stock, par value $.01 per share; 60,000,000 class A shares and 20,000,000 class B shares authorized; 30,513,909 class A shares and 10,279,281 class B shares outstanding in 2016; and 30,303,818 class A shares and 10,093,305 class B shares outstanding in 2015 CommonStockValue $430.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $288.29M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $293.20M USD Point-in-time
Treasury stock, at cost: 2,616,657 class B shares TreasuryStockValue $43.37M USD Point-in-time
Treasury stock, at cost: 2,616,657 class B shares TreasuryStockValue $43.37M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $599.85M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $602.24M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-305.00K USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-305.00K USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-460.00K USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-388.00K USD Point-in-time
Total shareholders equity StockholdersEquity $844.90M USD Point-in-time
Total shareholders equity StockholdersEquity $852.20M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.80B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.85B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
New and used commercial vehicle sales SalesRevenueNet $800.19M USD 1 Quarter
New and used commercial vehicle sales SalesRevenueNet $668.54M USD 1 Quarter
Parts and service sales PartsAndServiceSales $341.94M USD 1 Quarter
Parts and service sales PartsAndServiceSales $337.02M USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $47.79M USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $50.89M USD 1 Quarter
Finance and insurance FinanceAndInsuranceNet $4.53M USD 1 Quarter
Finance and insurance FinanceAndInsuranceNet $4.50M USD 1 Quarter
Other OtherSalesRevenueNet $4.00M USD 1 Quarter
Other OtherSalesRevenueNet $4.97M USD 1 Quarter
Total revenue Revenues $1.07B USD 1 Quarter
Total revenue Revenues $1.19B USD 1 Quarter
New and used commercial vehicle sales CostOfGoodsSold $623.66M USD 1 Quarter
New and used commercial vehicle sales CostOfGoodsSold $744.26M USD 1 Quarter
Parts and service sales CostOfProductsSoldPartsAndServiceSales $218.24M USD 1 Quarter
Parts and service sales CostOfProductsSoldPartsAndServiceSales $214.70M USD 1 Quarter
Lease and rental LeaseAndRentalExpense $45.67M USD 1 Quarter
Lease and rental LeaseAndRentalExpense $40.96M USD 1 Quarter
Total cost of products sold CostOfRevenue $999.91M USD 1 Quarter
Total cost of products sold CostOfRevenue $887.57M USD 1 Quarter
Gross profit GrossProfit $183.27M USD 1 Quarter
Gross profit GrossProfit $193.62M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $162.45M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $152.63M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.99M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $12.65M USD 1 Quarter
Gain (loss) on sale of assets GainLossOnDispositionOfAssets1 $-672.00K USD 1 Quarter
Gain (loss) on sale of assets GainLossOnDispositionOfAssets1 $10.00K USD 1 Quarter
Operating income OperatingIncomeLoss $8.18M USD 1 Quarter
Operating income OperatingIncomeLoss $30.33M USD 1 Quarter
Interest expense, net InterestExpense $4.24M USD 1 Quarter
Interest expense, net InterestExpense $2.94M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $3.94M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $27.39M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $10.61M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.55M USD 1 Quarter
Net income NetIncomeLoss $16.78M USD 1 Quarter
Net income NetIncomeLoss $2.40M USD 1 Quarter
Earnings per common share - Basic (in dollars per share) EarningsPerShareBasic $0.06 USD 1 Quarter
Earnings per common share - Basic (in dollars per share) EarningsPerShareBasic $0.42 USD 1 Quarter
Earnings per common share - Diluted (in dollars per share) EarningsPerShareDiluted $0.41 USD 1 Quarter
Earnings per common share - Diluted (in dollars per share) EarningsPerShareDiluted $0.06 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 40.07M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 40.55M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 40.98M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 41.05M shares 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $16.85M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $2.40M USD 1 Quarter
Cash Flow Statement 73 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $16.78M USD 1 Quarter
Net income NetIncomeLoss $2.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $39.07M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $33.96M USD 1 Quarter
Gain (loss) on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $10.00K USD 1 Quarter
Gain (loss) on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-672.00K USD 1 Quarter
Asset Impairment Charges AssetImpairmentCharges $7.72M USD 1 Quarter
Asset Impairment Charges AssetImpairmentCharges - USD 1 Quarter
Asset Impairment Charges AssetImpairmentCharges $1.00M USD Annual
Stock-based compensation expense related to employee stock options and employee stock purchases ShareBasedCompensation $3.60M USD 1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases ShareBasedCompensation $3.70M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-7.58M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-1.63M USD 1 Quarter
Excess tax expense from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $-423.00K USD 1 Quarter
Excess tax expense from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $-1.01M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $34.82M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $-5.34M USD 1 Quarter
Change in inventories, net IncreaseDecreaseInInventories $-49.92M USD 1 Quarter
Change in inventories, net IncreaseDecreaseInInventories $84.89M USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-11.93M USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-21.38M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $-3.03M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $-16.52M USD 1 Quarter
Payments on floor plan notes payable trade, net IncreaseDecreaseInFloorPlanNotesPayableTradeNet $-1.79M USD 1 Quarter
Payments on floor plan notes payable trade, net IncreaseDecreaseInFloorPlanNotesPayableTradeNet $-5.06M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInCustomerDeposits $2.27M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInCustomerDeposits $-6.33M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-5.57M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-28.28M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $101.24M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-96.57M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $82.45M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $53.88M USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $616.00K USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $2.12M USD 1 Quarter
Business acquisitions PaymentsToAcquireBusinessesGross - USD 1 Quarter
Business acquisitions PaymentsToAcquireBusinessesGross $27.85M USD 1 Quarter
Change in other assets PaymentsForProceedsFromOtherInvestingActivities $-676.00K USD 1 Quarter
Change in other assets PaymentsForProceedsFromOtherInvestingActivities $1.74M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-109.93M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-52.59M USD 1 Quarter
(Payments) draws on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $71.68M USD 1 Quarter
(Payments) draws on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $-26.98M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $32.19M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $39.22M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $42.50M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $45.09M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $4.85M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $3.21M USD 1 Quarter
Issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $1.59M USD 1 Quarter
Issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $2.31M USD 1 Quarter
Excess tax expense from stock-based compensation ExcessTaxBenefitExpenseFromShareBasedCompensationFinancingActivities $-1.01M USD 1 Quarter
Excess tax expense from stock-based compensation ExcessTaxBenefitExpenseFromShareBasedCompensationFinancingActivities $-423.00K USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $1.46M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-40.84M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $62.31M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-144.19M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $7.81M USD 1 Quarter
CASH AND CASH EQUIVALENTS, beginning of period CashAndCashEquivalentsAtCarryingValue $191.46M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashAndCashEquivalentsAtCarryingValue $47.27M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashAndCashEquivalentsAtCarryingValue $64.85M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashAndCashEquivalentsAtCarryingValue $72.66M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashAndCashEquivalentsAtCarryingValue $191.46M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashAndCashEquivalentsAtCarryingValue $47.27M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashAndCashEquivalentsAtCarryingValue $64.85M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashAndCashEquivalentsAtCarryingValue $72.66M USD Point-in-time
Interest InterestPaid $10.27M USD 1 Quarter
Interest InterestPaid $8.38M USD 1 Quarter
Income taxes (refunded) paid, net IncomeTaxesRefundedPaidNet $143.00K USD 1 Quarter
Income taxes (refunded) paid, net IncomeTaxesRefundedPaidNet $-15.02M USD 1 Quarter
Assets acquired under capital leases FairValueOfAssetsAcquired $7.58M USD 1 Quarter
Assets acquired under capital leases FairValueOfAssetsAcquired $5.34M USD 1 Quarter

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

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