10-Q Filing

DAILY JOURNAL CORP CIK: 783412 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-002037`
Period End Date	20171231
Filing Date	20180208
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	djco-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 95 Income Statement 54 Cash Flow Statement 48

Balance Sheet 95 line items

Line Item	Tag	Value	Unit	Period
Market securities, common stock	`TradingSecurities`	$236.39M	USD	Point-in-time
Market securities, common stock	`TradingSecurities`	$220.97M	USD	Point-in-time
Market securities, bonds	`TradingSecuritiesDebt`	$8.29M	USD	Point-in-time
Market securities, bonds	`TradingSecuritiesDebt`	$8.55M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.87M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities at fair value, including common stocks of $236,387,000 and bonds of $8,547,000 at December 31, 2017 and common stocks of $220,973,000 and bonds of $8,292,000 at September 30, 2017	`MarketableSecurities`	$244.93M	USD	Point-in-time
Marketable securities at fair value, including common stocks of $236,387,000 and bonds of $8,547,000 at December 31, 2017 and common stocks of $220,973,000 and bonds of $8,292,000 at September 30, 2017	`MarketableSecurities`	$229.26M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.81M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $200,000 at December 31, 2017 and September 30, 2017	`AccountsReceivableNetCurrent`	$5.36M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.81M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $200,000 at December 31, 2017 and September 30, 2017	`AccountsReceivableNetCurrent`	$4.19M	USD	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Inventories	`InventoryNet`	$40.00K	USD	Point-in-time
Inventories	`InventoryNet`	$40.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$798.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$641.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$909.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$987.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$239.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$253.30M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.40M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.40M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$2.72M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$2.72M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.82M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.80M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$20.94M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$20.92M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.43M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.29M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$11.63M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$11.51M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.06M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.00M	USD	Point-in-time
Goodwill	`Goodwill`	$13.40M	USD	Point-in-time
Goodwill	`Goodwill`	$13.40M	USD	Point-in-time
Deferred income taxes - Federal	`DeferredTaxAssetsFederalTaxesNetOfValuationAllowanceNoncurrent`	$7.44M	USD	Point-in-time
Deferred income taxes - Federal	`DeferredTaxAssetsFederalTaxesNetOfValuationAllowanceNoncurrent`	$10.65M	USD	Point-in-time
Deferred income taxes - States	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	$2.22M	USD	Point-in-time
Deferred income taxes - States	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	$2.25M	USD	Point-in-time
Assets	`Assets`	$280.71M	USD	Point-in-time
Assets	`Assets`	$248.76M	USD	Point-in-time
Assets	`Assets`	$289.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.95M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.41M	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$117.00K	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$115.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.07M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$29.49M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$29.49M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.93M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.96M	USD	Point-in-time
Deferred maintenance agreements	`DeferredRevenueNoncurrent`	$759.00K	USD	Point-in-time
Deferred maintenance agreements	`DeferredRevenueNoncurrent`	$580.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$135.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$135.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesCurrent`	$64.55M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesCurrent`	$48.14M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$80.27M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$96.89M	USD	Point-in-time
Commitments and contingencies (Notes 10 and 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 10 and 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value, 5,000,000 shares authorized and no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value, 5,000,000 shares authorized and no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 424,307 treasury shares, at December 31, 2017 and September 30, 2017	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 424,307 treasury shares, at December 31, 2017 and September 30, 2017	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$57.15M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$100.82M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$112.94M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$159.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$186.60M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$289.89M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$280.71M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Advertising	`AdvertisingRevenue`	$2.12M	USD	1 Quarter
Advertising	`AdvertisingRevenue`	$2.31M	USD	1 Quarter
Circulation	`SubscriptionRevenue`	$1.36M	USD	1 Quarter
Circulation	`SubscriptionRevenue`	$1.45M	USD	1 Quarter
Advertising service fees and other	`OtherSalesRevenueNet`	$602.00K	USD	1 Quarter
Advertising service fees and other	`OtherSalesRevenueNet`	$638.00K	USD	1 Quarter
Licensing and maintenance fees	`LicenseAndMaintenanceRevenue`	$3.97M	USD	1 Quarter
Licensing and maintenance fees	`LicenseAndMaintenanceRevenue`	$4.35M	USD	1 Quarter
Consulting fees	`ConsultingRevenue`	$848.00K	USD	1 Quarter
Consulting fees	`ConsultingRevenue`	$995.00K	USD	1 Quarter
Other public service fees	`OtherPublicServiceRevenue`	$826.00K	USD	1 Quarter
Other public service fees	`OtherPublicServiceRevenue`	$779.00K	USD	1 Quarter
Revenues	`Revenues`	$9.99M	USD	1 Quarter
Revenues	`Revenues`	$10.25M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$7.64M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$8.20M	USD	1 Quarter
Outside services	`OtherOutsideServices`	$980.00K	USD	1 Quarter
Outside services	`OtherOutsideServices`	$1.04M	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$217.00K	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$278.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$212.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$209.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.22M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.39M	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$2.34M	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$2.81M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$12.84M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$13.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.85M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.44M	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$1.17M	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$1.48M	USD	1 Quarter
Gain on sale of capital asset	`CapitalGainOnSalesOfOfficeFurnitureAndEquipment`	-	USD	1 Quarter
Gain on sale of capital asset	`CapitalGainOnSalesOfOfficeFurnitureAndEquipment`	$2.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$15.00K	USD	1 Quarter
Interest accrual for uncertain and unrecognized tax benefits	`UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense`	-	USD	1 Quarter
Interest accrual for uncertain and unrecognized tax benefits	`UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense`	$9.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.11M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.78M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-310.00K	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-16.85M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Weighted average number of common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.38M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.38M	shares	1 Quarter
Basic and diluted net income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$10.67	USD	1 Quarter
Basic and diluted net income (loss) per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.07	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Net increase in unrealized appreciation of marketable securities (net of taxes)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.12M	USD	1 Quarter
Net increase in unrealized appreciation of marketable securities (net of taxes)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.02M	USD	1 Quarter
ComprehensiveIncomeNetOfTax	`ComprehensiveIncomeNetOfTax`	$26.86M	USD	1 Quarter
ComprehensiveIncomeNetOfTax	`ComprehensiveIncomeNetOfTax`	$13.55M	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.22M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-917.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-16.78M	USD	1 Quarter
Discounts earned on bonds	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$1.00K	USD	1 Quarter
Discounts earned on bonds	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$1.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$891.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.17M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-157.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$78.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-645.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-98.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-373.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-701.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-68.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-814.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.31M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$5.01M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$187.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.20M	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$28.00K	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-28.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-876.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.54M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.87M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$11.41M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.87M	USD	Point-in-time
Interest paid during period	`InterestPaidNet`	$111.00K	USD	1 Quarter
Interest paid during period	`InterestPaidNet`	$169.00K	USD	1 Quarter
Net income taxes paid during period	`IncomeTaxesPaidNet`	$3.00K	USD	1 Quarter
Net income taxes paid during period	`IncomeTaxesPaidNet`	$6.00K	USD	1 Quarter

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