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10-Q Filing

RUSH ENTERPRISES INC TX CIK: 1012019 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001437749-20-010233
Period End Date 20200331
Filing Date 20200511
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance rusha20200331_10q_htm.xml
Filing Contents
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $126.57M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.62M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $131.73M USD Point-in-time
Accounts receivable (less allowances for credit losses of $1,679 and $1,424, respectively) AccountsReceivableNetCurrent $214.60M USD Point-in-time
Accounts receivable (less allowances for credit losses of $1,679 and $1,424, respectively) AccountsReceivableNetCurrent $183.70M USD Point-in-time
Inventories, net InventoryNet $1.33B USD Point-in-time
Inventories, net InventoryNet $1.19B USD Point-in-time
Allowances for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $1.42M USD Point-in-time
Allowances for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $1.68M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $20.73M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $14.73M 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
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $419.00K USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $419.00K USD Point-in-time
Total current assets AssetsCurrent $1.71B USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Total current assets AssetsCurrent $1.56B USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.28B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.28B USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $55.99M 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
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $57.20M USD Point-in-time
Goodwill, net Goodwill $292.14M USD Point-in-time
Goodwill, net Goodwill $292.14M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $65.51M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $60.87M USD Point-in-time
Total assets Assets $3.41B USD Point-in-time
Total assets Assets $3.24B USD Point-in-time
Total assets Assets $3.42B USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $996.34M USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $888.68M USD Point-in-time
Current maturities of long-term debt LongtermDebtCurrentMaturitiesExcludingLineOfCredit $189.26M USD Point-in-time
Current maturities of long-term debt LongtermDebtCurrentMaturitiesExcludingLineOfCredit $183.73M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $22.89M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $23.34M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $10.11M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $10.14M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $122.83M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $133.70M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $42.70M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $25.99M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $112.39M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $97.13M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.35B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.51B USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $426.73M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $438.41M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $75.30M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $69.48M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $46.36M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $47.55M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $20.70M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $19.82M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $157.14M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $164.30M USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2020 and 2019 PreferredStockValue - USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2020 and 2019 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; 27,532,890 Class A shares and 8,410,440 Class B shares outstanding in 2020; and 27,953,648 Class A shares and 8,240,486 Class B shares outstanding in 2019 CommonStockValue $465.00K 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; 27,532,890 Class A shares and 8,410,440 Class B shares outstanding in 2020; and 27,953,648 Class A shares and 8,240,486 Class B shares outstanding in 2019 CommonStockValue $469.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $397.27M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $406.73M USD Point-in-time
Treasury stock, at cost: 5,610,906 Class A shares and 5,360,832 Class B shares in 2020 and 5,055,783 Class A shares and 5,306,341 Class B shares in 2019 TreasuryStockValue $324.03M USD Point-in-time
Treasury stock, at cost: 5,610,906 Class A shares and 5,360,832 Class B shares in 2020 and 5,055,783 Class A shares and 5,306,341 Class B shares in 2019 TreasuryStockValue $304.13M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.07B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.08B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.59M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $337.00K USD Point-in-time
Total shareholders equity StockholdersEquity $1.08B USD Point-in-time
Total shareholders equity StockholdersEquity $1.07B USD Point-in-time
Total shareholders equity StockholdersEquity $1.17B USD Point-in-time
Total shareholders equity StockholdersEquity $1.16B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $3.41B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $3.24B USD Point-in-time
Income Statement 43 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.23B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.29B USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $60.78M USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $59.43M USD 1 Quarter
Total revenue Revenues $1.35B USD 1 Quarter
Total revenue Revenues $1.29B USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $49.80M USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $52.21M USD 1 Quarter
Total cost of products sold CostOfRevenue $1.05B USD 1 Quarter
Total cost of products sold CostOfRevenue $1.09B USD 1 Quarter
Gross profit GrossProfit $256.92M USD 1 Quarter
Gross profit GrossProfit $234.50M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $185.07M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $187.18M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $14.33M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $12.93M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $57.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $100.00K USD 1 Quarter
Operating income OperatingIncomeLoss $35.20M USD 1 Quarter
Operating income OperatingIncomeLoss $56.87M USD 1 Quarter
Other income NonoperatingIncomeExpense $1.00K USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $49.00K USD 1 Quarter
Equity in earnings of unconsolidated entities IncomeLossFromEquityMethodInvestments $1.24M USD 1 Quarter
Interest expense, net InterestExpense $7.36M USD 1 Quarter
Interest expense, net InterestExpense $4.77M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $49.56M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $31.67M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $8.56M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $12.45M USD 1 Quarter
Net income NetIncomeLoss $23.11M USD 1 Quarter
Net income NetIncomeLoss $37.10M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.63 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.01 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.98 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.62 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 36.82M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 36.48M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 37.33M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 37.83M shares 1 Quarter
Dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.13 USD 1 Quarter
Dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $21.18M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $37.49M USD 1 Quarter
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $23.11M USD 1 Quarter
Net income NetIncomeLoss $37.10M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $45.19M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $41.76M USD 1 Quarter
Gain on sale of property and equipment, net GainLossOnSaleOfPropertyPlantEquipment $100.00K USD 1 Quarter
Gain on sale of property and equipment, net GainLossOnSaleOfPropertyPlantEquipment $57.00K USD 1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases ShareBasedCompensation $8.84M USD 1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases ShareBasedCompensation $8.55M USD 1 Quarter
Provision for deferred income tax expense DeferredIncomeTaxExpenseBenefit $150.00K USD 1 Quarter
Provision for deferred income tax expense DeferredIncomeTaxExpenseBenefit $-7.16M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $30.89M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $10.21M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $-153.57M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $106.32M USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $934.00K USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-6.00M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $19.79M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $-11.67M USD 1 Quarter
(Payments) draws on floor plan notes payable trade, net IncreaseDecreaseInFloorPlanNotesPayableTradeNet $-15.08M USD 1 Quarter
(Payments) draws on floor plan notes payable trade, net IncreaseDecreaseInFloorPlanNotesPayableTradeNet $3.14M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-16.70M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-11.74M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-21.23M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-15.26M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-747.00K USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $469.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-39.26M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $138.81M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $49.49M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $59.85M USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $168.00K USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $172.00K USD 1 Quarter
Business acquisitions PaymentsToAcquireBusinessesGross $7.94M USD 1 Quarter
Purchase of equity method investment and call option PaymentsToAcquireEquityMethodInvestments $22.57M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-948.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-1.98M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-47.33M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-89.24M USD 1 Quarter
(Payments) draws on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $85.31M USD 1 Quarter
(Payments) draws on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $-92.58M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $37.86M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $28.23M USD 1 Quarter
Proceeds from line of credit ProceedsFromLinesOfCredit $75.00M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfMediumTermNotes $45.45M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfMediumTermNotes $43.02M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $2.01M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $2.41M USD 1 Quarter
Proceeds from issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $597.00K USD 1 Quarter
Proceeds from issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $909.00K USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $4.75M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $4.38M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $19.90M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $25.62M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-135.56M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $123.34M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-5.15M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-44.08M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $126.57M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $181.62M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $131.73M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $126.57M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $181.62M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $131.73M USD Point-in-time
Interest InterestPaidNet $12.56M USD 1 Quarter
Interest InterestPaidNet $13.61M USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $-2.00K USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $6.59M USD 1 Quarter
Assets acquired under finance leases FairValueOfAssetsAcquired $5.75M USD 1 Quarter
Assets acquired under finance leases FairValueOfAssetsAcquired $12.67M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $1.08B USD Point-in-time
Balance StockholdersEquity $1.07B USD Point-in-time
Balance StockholdersEquity $1.17B USD Point-in-time
Balance StockholdersEquity $1.16B USD Point-in-time
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $1.23M USD 1 Quarter
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $1.42M USD 1 Quarter
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition $8.84M USD 1 Quarter
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition $8.55M USD 1 Quarter
Vesting of restricted share awards StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-2.41M USD 1 Quarter
Vesting of restricted share awards StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-2.31M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.68M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.90M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $26.05M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $19.90M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-1.93M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $384.00K USD 1 Quarter
Net income NetIncomeLoss $23.11M USD 1 Quarter
Net income NetIncomeLoss $37.10M USD 1 Quarter
Balance StockholdersEquity $1.08B USD Point-in-time
Balance StockholdersEquity $1.07B USD Point-in-time
Balance StockholdersEquity $1.17B USD Point-in-time
Balance StockholdersEquity $1.16B USD Point-in-time

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

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