10-Q Filing

MARTEN TRANSPORT LTD CIK: 799167 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-009914`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	mrtn20200331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 41 Cash Flow Statement 59 Stockholders Equity 25

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.76M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.53M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.14M	USD	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
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
Trade, net	`AccountsReceivableNetCurrent`	$90.71M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$94.28M	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
Other	`NontradeReceivablesCurrent`	$11.05M	USD	Point-in-time
Other	`NontradeReceivablesCurrent`	$10.08M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$20.94M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$19.06M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	192.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	192.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$154.17M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.70M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$159.55M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	54.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	54.70M	shares	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$937.39M	USD	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$904.24M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$274.05M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$263.84M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$663.34M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$640.39M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.03M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.03M	USD	Point-in-time
Total assets	`Assets`	$796.59M	USD	Point-in-time
Total assets	`Assets`	$824.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.82M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$34.42M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$31.73M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$21.68M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$21.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$76.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.13M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$123.79M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$122.02M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$622.00K	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$649.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$199.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$215.54M	USD	Point-in-time
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value per share; 192,000,000 shares authorized; 54,840,652 shares at March 31, 2020, and 54,703,466 shares at December 31, 2019, issued and outstanding	`CommonStockValue`	$547.00K	USD	Point-in-time
Common stock, $.01 par value per share; 192,000,000 shares authorized; 54,840,652 shares at March 31, 2020, and 54,703,466 shares at December 31, 2019, issued and outstanding	`CommonStockValue`	$548.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$79.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$79.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$517.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$529.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$609.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$597.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$824.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$796.59M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$218.65M	USD	1 Quarter
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$199.02M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$72.76M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$63.52M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$40.45M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$38.25M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$27.68M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$28.30M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$12.23M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$11.12M	USD	1 Quarter
Depreciation	`Depreciation`	$22.54M	USD	1 Quarter
Depreciation	`Depreciation`	$25.43M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.33M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.64M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$12.28M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$9.88M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$1.99M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$1.95M	USD	1 Quarter
Gain on disposition of revenue equipment	`GainLossOnDispositionOfAssets`	$1.55M	USD	1 Quarter
Gain on disposition of revenue equipment	`GainLossOnDispositionOfAssets`	$1.55M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$5.57M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$6.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$181.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$200.61M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.73M	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$278.00K	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$97.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.01M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$4.46M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$4.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$47.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.03	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.04	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$47.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Depreciation	`Depreciation`	$22.54M	USD	1 Quarter
Depreciation	`Depreciation`	$25.43M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.71M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.66M	USD	1 Quarter
Gain on disposition of revenue equipment	`GainLossOnDispositionOfAssets`	$1.55M	USD	1 Quarter
Gain on disposition of revenue equipment	`GainLossOnDispositionOfAssets`	$1.55M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.77M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$819.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$366.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$246.00K	USD	1 Quarter
Equity in loss from affiliate	`IncomeLossFromEquityMethodInvestments`	$-51.00K	USD	1 Quarter
Equity in loss from affiliate	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$315.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$782.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-930.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-918.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$617.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.10M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$2.69M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$1.28M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-3.79M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-1.29M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.63M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.48M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$25.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$39.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.74M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.63M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$2.19M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$1.64M	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	$597.00K	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$292.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.05M	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$784.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$437.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.17M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.13M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$28.76M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.67M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.76M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.46M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$85.53M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.14M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$56.76M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$31.46M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$85.53M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$36.14M	USD	Point-in-time
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$11.11M	USD	1 Quarter
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$5.03M	USD	1 Quarter
Operating lease assets and liabilities acquired	`OperatingLeaseAssetsAndLiabilitiesAcquired`	$1.14M	USD	1 Quarter
Operating lease assets and liabilities acquired	`OperatingLeaseAssetsAndLiabilitiesAcquired`	$88.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$1.38M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	$11.00K	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$597.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$609.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$575.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$587.74M	USD	Point-in-time
Net income	`NetIncomeLoss`	$47.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.33M	USD	3 Qtrs
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.05M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$292.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$784.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$437.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$366.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$246.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.45M	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$40.45M	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$2.19M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$1.64M	USD	1 Quarter
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	35,376.00	shares	1 Quarter
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	Annual
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$597.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$597.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$609.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$575.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$587.74M	USD	Point-in-time

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