10-Q Filing

LITHIA MOTORS INC CIK: 1023128 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-007469`
Period End Date	20170331
Filing Date	20170428
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	lad-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 36 Cash Flow Statement 74 Comprehensive Income 8

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.95M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$175.23M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$167.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.28M	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 $4,953 and $5,281	`AccountsReceivableNetCurrent`	$341.59M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $4,953 and $5,281	`AccountsReceivableNetCurrent`	$417.71M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.81B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.77B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$46.61M	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`	$48.25M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.23B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.29B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $175,231 and $167,300	`PropertyPlantAndEquipmentNet`	$1.01B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $175,231 and $167,300	`PropertyPlantAndEquipmentNet`	$1.01B	USD	Point-in-time
Goodwill	`Goodwill`	$259.40M	USD	Point-in-time
Goodwill	`Goodwill`	$213.22M	USD	Point-in-time
Goodwill	`Goodwill`	$259.40M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$184.27M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$157.70M	USD	Point-in-time
Franchise value	`IndefiniteLivedFranchiseRights`	$184.27M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$107.16M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$114.31M	USD	Point-in-time
Total Assets	`Assets`	$3.84B	USD	Point-in-time
Total Assets	`Assets`	$3.80B	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$97.03M	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$94.60M	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.50B	USD	Point-in-time
Floor plan notes payable: non-trade	`FloorPlanNotesPayableNonTrade`	$1.51B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$20.96M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$17.92M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$80.02M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$88.42M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$211.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$241.64M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.92B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.94B	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$666.13M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$769.92M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$81.93M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$86.84M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$58.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$59.08M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$100.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$100.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.93B	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.85B	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`	$41.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$37.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$703.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$748.42M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$910.78M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$950.17M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.84B	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.80B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$1.98B	USD	1 Quarter
Total revenues	`Revenues`	$2.24B	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.89B	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.68B	USD	1 Quarter
Gross profit	`GrossProfit`	$341.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$307.18M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$3.50M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$219.11M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$242.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$86.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$72.92M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$5.91M	USD	1 Quarter
Floor plan interest expense	`FloorPlanInterestExpense`	$8.05M	USD	1 Quarter
Other interest expense, net	`InterestExpenseDebt`	$5.46M	USD	1 Quarter
Other interest expense, net	`InterestExpenseDebt`	$6.67M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$9.85M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-1.53M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$81.26M	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`	$30.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.73M	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$1.56	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$2.01	USD	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.82M	shares	1 Quarter
Shares used in basic per share calculations (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.18M	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`	$2.01	USD	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.97M	shares	1 Quarter
Shares used in diluted per share calculations (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.25M	shares	1 Quarter
Cash dividends declared per Class A and Class B share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Cash dividends declared per Class A and Class B share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.25	USD	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.73M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$3.50M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.66M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.15M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.62M	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.39M	USD	1 Quarter
(Gain) loss on disposal of other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-279.00K	USD	1 Quarter
Gain on disposal of franchise	`GainLossOnSaleOfBusiness`	$1.09M	USD	1 Quarter
Gain on disposal of franchise	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$10.26M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-417.00K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-76.12M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-25.56M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$42.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$73.74M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.78M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.66M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseInVehicleFloorPlanPayableTradeNet`	$-7.75M	USD	1 Quarter
Floor plan notes payable	`IncreaseDecreaseInVehicleFloorPlanPayableTradeNet`	$-2.43M	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$920.00K	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayable`	$-7.62M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$13.43M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$31.12M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.75M	USD	1 Quarter
Other long-term liabilities and deferred revenue	`IncreaseDecreaseInOtherOperatingLiabilities`	$5.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$126.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$39.02M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.04M	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`	$399.00K	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$11.45M	USD	1 Quarter
Cash paid for other investments	`PaymentsToAcquireOtherInvestments`	$6.86M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.80M	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	-	USD	1 Quarter
Proceeds from sales of stores	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$11.82M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.23M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.50M	USD	1 Quarter
(Repayments) borrowings on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$38.63M	USD	1 Quarter
(Repayments) borrowings on floor plan notes payable, net: non-trade	`IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet`	$-2.11M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$231.00M	USD	1 Quarter
Borrowings on lines of credit	`ProceedsFromLinesOfCredit`	$213.12M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$229.31M	USD	1 Quarter
Repayments on lines of credit	`RepaymentsOfLinesOfCredit`	$351.43M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$27.88M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$12.08M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.52M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.46M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$9.19M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$57.74M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$6.29M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$5.15M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-123.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-33.23M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-23.45M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-18.84M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.44M	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`	$50.28M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$12.99M	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$17.26M	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$497.00K	USD	1 Quarter
Cash paid during the period for income taxes, net	`IncomeTaxesPaid`	$8.00K	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`NotesReduction`	$5.28M	USD	1 Quarter
Floor plan debt paid in connection with store disposals	`NotesReduction`	-	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.27M	USD	1 Quarter
Gain on cash flow hedges, tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$103.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.73M	USD	1 Quarter
Gain on cash flow hedges, tax expense	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	-	USD	1 Quarter
Gain on cash flow hedges, net of tax expense of $0 and $103, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$163.00K	USD	1 Quarter
Gain on cash flow hedges, net of tax expense of $0 and $103, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$40.43M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$50.73M	USD	1 Quarter

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