10-Q Filing

RUSH ENTERPRISES INC TX CIK: 1012019 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-009406`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	rusha-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 37 Cash Flow Statement 66

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$89.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$124.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.71M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$185.94M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$183.88M	USD	Point-in-time
Note receivable affiliate	`DueFromRelatedPartiesCurrent`	$16.99M	USD	Point-in-time
Note receivable affiliate	`DueFromRelatedPartiesCurrent`	$11.91M	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`	$1.04B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.03B	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$11.97M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$13.81M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$7.64M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$9.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.38B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.40B	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
Investments	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$6.38M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$6.38M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.15B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.16B	USD	Point-in-time
Goodwill, net	`Goodwill`	$291.39M	USD	Point-in-time
Goodwill, net	`Goodwill`	$291.39M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$57.68M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$48.99M	USD	Point-in-time
Total assets	`Assets`	$2.64B	USD	Point-in-time
Total assets	`Assets`	$2.89B	USD	Point-in-time
Total assets	`Assets`	$2.90B	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$778.56M	USD	Point-in-time
Floor plan notes payable	`FloorPlanNotesPayable`	$805.53M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$143.40M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$145.14M	USD	Point-in-time
Current maturities of capital lease obligations	`CapitalLeaseObligationsCurrent`	$17.40M	USD	Point-in-time
Current maturities of capital lease obligations	`CapitalLeaseObligationsCurrent`	$17.12M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$123.79M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$107.91M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$27.39M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$27.35M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$88.23M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$96.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.21B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17B	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$466.39M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$453.99M	USD	Point-in-time
Capital lease obligations, net of current maturities	`CapitalLeaseObligationsNoncurrent`	$60.71M	USD	Point-in-time
Capital lease obligations, net of current maturities	`CapitalLeaseObligationsNoncurrent`	$66.02M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.84M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.04M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$135.31M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$136.07M	USD	Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2018 and 2017	`PreferredStockValue`	-	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; 30,582,509 Class A shares and 8,623,472 Class B shares outstanding in 2018; and 31,345,116 Class A shares and 8,469,427 Class B shares outstanding in 2017	`CommonStockValue`	$454.00K	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; 30,582,509 Class A shares and 8,623,472 Class B shares outstanding in 2018; and 31,345,116 Class A shares and 8,469,427 Class B shares outstanding in 2017	`CommonStockValue`	$457.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$356.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$348.04M	USD	Point-in-time
Treasury stock, at cost: 1,768,354 class A shares and 4,697,592 class B shares in 2018 and 934,171 class A shares and 4,625,181 class B shares in 2017	`TreasuryStockValue`	$120.68M	USD	Point-in-time
Treasury stock, at cost: 1,768,354 class A shares and 4,697,592 class B shares in 2018 and 934,171 class A shares and 4,625,181 class B shares in 2017	`TreasuryStockValue`	$158.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$833.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$812.56M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.03B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.04B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.90B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.89B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.18B	USD	1 Quarter
Lease and rental	`OperatingLeasesIncomeStatementLeaseRevenue`	$57.52M	USD	1 Quarter
Lease and rental	`OperatingLeasesIncomeStatementLeaseRevenue`	$51.24M	USD	1 Quarter
Total revenue	`Revenues`	$1.24B	USD	1 Quarter
Total revenue	`Revenues`	$1.04B	USD	1 Quarter
Lease and rental	`CostOfRevenueLeaseAndRental`	$48.43M	USD	1 Quarter
Lease and rental	`CostOfRevenueLeaseAndRental`	$44.30M	USD	1 Quarter
Total cost of products sold	`CostOfRevenue`	$1.01B	USD	1 Quarter
Total cost of products sold	`CostOfRevenue`	$856.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$227.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$187.91M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$150.40M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$171.67M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$22.91M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$12.49M	USD	1 Quarter
Loss on sale of assets	`GainLossOnDispositionOfAssets1`	$-28.00K	USD	1 Quarter
Loss on sale of assets	`GainLossOnDispositionOfAssets1`	$-163.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$24.85M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$32.39M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$4.31M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.79M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.06M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.08M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.04M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.48M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	39.66M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	39.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.09M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$21.04M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.48M	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$21.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$38.72M	USD	1 Quarter
Loss on sale of property and equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$-28.00K	USD	1 Quarter
Loss on sale of property and equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$-163.00K	USD	1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases	`ShareBasedCompensation`	$7.89M	USD	1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases	`ShareBasedCompensation`	$4.76M	USD	1 Quarter
Provision for deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.41M	USD	1 Quarter
Provision for deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$755.00K	USD	1 Quarter
Change in accounts receivable, net	`IncreaseDecreaseInReceivables`	$7.14M	USD	1 Quarter
Change in accounts receivable, net	`IncreaseDecreaseInReceivables`	$12.90M	USD	1 Quarter
Change in inventories	`IncreaseDecreaseInInventories`	$19.38M	USD	1 Quarter
Change in inventories	`IncreaseDecreaseInInventories`	$-5.71M	USD	1 Quarter
Change in prepaid expenses and other, net	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$609.00K	USD	1 Quarter
Change in prepaid expenses and other, net	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.10M	USD	1 Quarter
Change in trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$12.91M	USD	1 Quarter
Change in trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$1.69M	USD	1 Quarter
Draws on floor plan notes payable trade, net	`IncreaseDecreaseInFloorPlanNotesPayableTradeNet`	$35.38M	USD	1 Quarter
Draws on floor plan notes payable trade, net	`IncreaseDecreaseInFloorPlanNotesPayableTradeNet`	$18.55M	USD	1 Quarter
Change in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-2.20M	USD	1 Quarter
Change in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$38.00K	USD	1 Quarter
Change in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.90M	USD	1 Quarter
Change in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$117.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.52M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.22M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.21M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.60M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.23M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$1.10M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-5.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.45M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.08M	USD	1 Quarter
(Payments) draws on floor plan notes payable non-trade, net	`IncreaseDecreaseInFloorPlanPayableNet`	$19.10M	USD	1 Quarter
(Payments) draws on floor plan notes payable non-trade, net	`IncreaseDecreaseInFloorPlanPayableNet`	$-8.41M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$32.14M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$25.55M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$46.28M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$38.11M	USD	1 Quarter
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$3.34M	USD	1 Quarter
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$3.22M	USD	1 Quarter
Issuance of shares relating to employee stock options and employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$501.00K	USD	1 Quarter
Issuance of shares relating to employee stock options and employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$6.85M	USD	1 Quarter
Common stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$7.56M	USD	1 Quarter
Common stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$38.14M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$523.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-63.41M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.97M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.17M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.05M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$89.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$124.54M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.71M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$89.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$124.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.71M	USD	Point-in-time
Interest	`InterestPaidNet`	$8.21M	USD	1 Quarter
Interest	`InterestPaidNet`	$9.94M	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$1.50M	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$6.20M	USD	1 Quarter
Assets acquired under capital leases	`FairValueOfAssetsAcquired`	$401.00K	USD	1 Quarter
Assets acquired under capital leases	`FairValueOfAssetsAcquired`	$2.07M	USD	1 Quarter

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