10-Q Filing

DAILY JOURNAL CORP CIK: 783412 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-002216`
Period End Date	20181231
Filing Date	20190211
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	djco-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 40 Cash Flow Statement 46 Stockholders Equity 13

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
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
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
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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.81M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	USD	Point-in-time
Marketable securities at fair value	`MarketableSecuritiesCurrent`	$183.66M	USD	Point-in-time
Marketable securities at fair value	`MarketableSecuritiesCurrent`	$212.30M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $200,000	`AccountsReceivableNetCurrent`	$7.03M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $200,000	`AccountsReceivableNetCurrent`	$4.80M	USD	Point-in-time
Inventories	`InventoryNet`	$55.00K	USD	Point-in-time
Inventories	`InventoryNet`	$46.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$491.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$512.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$58.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$270.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$197.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.23M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.42M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.47M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$2.91M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$2.88M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.75M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.75M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$21.13M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$21.05M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.98M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.83M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$11.15M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$11.22M	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`	$9.75M	USD	Point-in-time
Deferred income taxes - Federal	`DeferredTaxAssetsFederalTaxesNetOfValuationAllowanceNoncurrent`	$9.27M	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	$2.88M	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	$2.83M	USD	Point-in-time
Assets	`Assets`	$235.12M	USD	Point-in-time
Assets	`Assets`	$264.00M	USD	Point-in-time
Assets	`Assets`	$289.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.04M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.80M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.40M	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$121.00K	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$123.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.26M	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`	$1.83M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.80M	USD	Point-in-time
Deferred maintenance agreements	`ContractWithCustomerLiabilityNoncurrent`	$106.00K	USD	Point-in-time
Deferred maintenance agreements	`ContractWithCustomerLiabilityNoncurrent`	$176.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$180.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$170.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$34.17M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$42.15M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$65.76M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$73.83M	USD	Point-in-time
Commitments and contingencies (Notes 9 and 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 9 and 10)	`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, 2018 and September 30, 2018	`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, 2018 and September 30, 2018	`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`	$139.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.36M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$115.79M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.38M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$159.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$162.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$186.60M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$235.12M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$264.00M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.43M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.25M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$8.65M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$8.20M	USD	1 Quarter
Outside services	`OtherOutsideServices`	$945.00K	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`	$204.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$212.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$176.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$153.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.22M	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$2.81M	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$2.82M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$13.70M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$12.95M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.44M	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$1.48M	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$1.53M	USD	1 Quarter
Other income and capital gains	`OtherIncomeAndCapitalGainsFromSaleOfAsset`	$10.00K	USD	1 Quarter
Other income and capital gains	`OtherIncomeAndCapitalGainsFromSaleOfAsset`	$11.00K	USD	1 Quarter
Net unrealized losses on investments	`UnrealizedGainLossOnInvestments`	$-28.64M	USD	1 Quarter
Net unrealized losses on investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.11M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-29.85M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-8.32M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-16.85M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-21.53M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$14.74M	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 (loss) income per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$10.67	USD	1 Quarter
Basic and diluted net (loss) income per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-15.60	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-21.53M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Net increase in unrealized appreciation of marketable securities (net of taxes)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Net increase in unrealized appreciation of marketable securities (net of taxes)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.12M	USD	1 Quarter
ComprehensiveIncomeNetOfTax	`ComprehensiveIncomeNetOfTax`	$26.86M	USD	1 Quarter
ComprehensiveIncomeNetOfTax	`ComprehensiveIncomeNetOfTax`	$-21.53M	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-21.53M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$153.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.22M	USD	1 Quarter
Net unrealized losses on investments	`UnrealizedGainLossOnInvestments`	$-28.64M	USD	1 Quarter
Net unrealized losses on investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-16.78M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-8.41M	USD	1 Quarter
Discounts earned on bonds	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	1 Quarter
Discounts earned on bonds	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-1.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.23M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.17M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-21.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-157.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-212.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$78.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-98.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.22M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-588.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-701.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.50M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-814.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$84.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-84.00K	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$29.00K	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$28.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-28.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-876.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.61M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.30M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	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`	$9.30M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	USD	Point-in-time
Interest paid during period	`InterestPaidNet`	$169.00K	USD	1 Quarter
Interest paid during period	`InterestPaidNet`	$152.00K	USD	1 Quarter
Net income taxes (refunded) paid during period	`IncomeTaxesPaidNet`	$6.00K	USD	1 Quarter
Net income taxes (refunded) paid during period	`IncomeTaxesPaidNet`	$-121.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$141.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$159.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$162.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$186.60M	USD	Point-in-time
Adoption of new accounting pronouncement	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	-	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$-21.53M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$14.74M	USD	1 Quarter
Unrealized gains on investments, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized gains on investments, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.12M	USD	1 Quarter
Balance	`StockholdersEquity`	$141.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$159.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$162.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$186.60M	USD	Point-in-time

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