10-Q Filing

DAILY JOURNAL CORP CIK: 783412 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-002732`
Period End Date	20201231
Filing Date	20210212
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	djco20201231_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 45 Cash Flow Statement 46 Stockholders Equity 10

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$250.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$250.00K	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`	$26.92M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.62M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.04M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.04M	USD	Point-in-time
Marketable securities at fair value -- common stocks	`MarketableSecuritiesCurrent`	$260.58M	USD	Point-in-time
Marketable securities at fair value -- common stocks	`MarketableSecuritiesCurrent`	$179.37M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $250,000 at December 31, 2020 and September 30, 2020	`AccountsReceivableNetCurrent`	$6.86M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $250,000 at December 31, 2020 and September 30, 2020	`AccountsReceivableNetCurrent`	$6.73M	USD	Point-in-time
Inventories	`InventoryNet`	$36.00K	USD	Point-in-time
Inventories	`InventoryNet`	$27.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$552.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$613.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$601.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$597.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$216.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$280.27M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.57M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.57M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$1.78M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$1.78M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.52M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$1.52M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$19.88M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$19.88M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.42M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.54M	USD	Point-in-time
Property, Plant and Equipment, Net, Ending Balance	`PropertyPlantAndEquipmentNet`	$10.46M	USD	Point-in-time
Property, Plant and Equipment, Net, Ending Balance	`PropertyPlantAndEquipmentNet`	$10.34M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$210.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$140.00K	USD	Point-in-time
Deferred income taxes - Federal	`DeferredTaxAssetsFederalTaxesNetOfValuationAllowanceNoncurrent`	$12.52M	USD	Point-in-time
Deferred income taxes - Federal	`DeferredTaxAssetsFederalTaxesNetOfValuationAllowanceNoncurrent`	$11.14M	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	-	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxAssetsStateTaxesNetOfValuationAllowanceNoncurrent`	$534.00K	USD	Point-in-time
Assets, Total	`Assets`	$254.86M	USD	Point-in-time
Assets, Total	`Assets`	$238.57M	USD	Point-in-time
Assets, Total	`Assets`	$303.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.00M	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$133.00K	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$144.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.99M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$29.49M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$15.00M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.58M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.54M	USD	Point-in-time
Deferred maintenance agreements	`ContractWithCustomerLiabilityNoncurrent`	$338.00K	USD	Point-in-time
Deferred maintenance agreements	`ContractWithCustomerLiabilityNoncurrent`	$450.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$1.46M	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$1.28M	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxLiabilitiesStateTaxesNetOfValuationAllowanceNoncurrent`	$658.00K	USD	Point-in-time
Deferred income taxes - State	`DeferredTaxLiabilitiesStateTaxesNetOfValuationAllowanceNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$35.87M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$58.23M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$77.05M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$68.84M	USD	Point-in-time
Debts and commitments and contingencies (Notes 9 and 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Debts and 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, 2020 and September 30, 2020	`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, 2020 and September 30, 2020	`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`	$199.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$139.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$151.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$137.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$201.01M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$238.57M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$303.34M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Revenue from Contract with Customer, Including Assessed Tax	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.68M	USD	1 Quarter
Revenue from Contract with Customer, Including Assessed Tax	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.42M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$7.89M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$8.89M	USD	1 Quarter
Outside services	`OtherOutsideServices`	$723.00K	USD	1 Quarter
Outside services	`OtherOutsideServices`	$1.21M	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$210.00K	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$169.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$178.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$154.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$115.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$128.00K	USD	1 Quarter
Equipment maintenance and software	`EquipmentMaintenanceAndSoftware`	$253.00K	USD	1 Quarter
Equipment maintenance and software	`EquipmentMaintenanceAndSoftware`	$322.00K	USD	1 Quarter
Credit card merchant discount fees	`CreditCardMerchantDiscountFees`	$382.00K	USD	1 Quarter
Credit card merchant discount fees	`CreditCardMerchantDiscountFees`	$450.00K	USD	1 Quarter
Rent expenses	`OperatingLeaseExpense`	$172.00K	USD	1 Quarter
Rent expenses	`OperatingLeaseExpense`	$72.00K	USD	1 Quarter
Accounting and legal fees	`ProfessionalFees`	$350.00K	USD	1 Quarter
Accounting and legal fees	`ProfessionalFees`	$256.00K	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.45M	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$557.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.73M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.20M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-315.00K	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$1.68M	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$638.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Net unrealized gains on marketable securities	`UnrealizedGainLossOnInvestments`	$19.53M	USD	1 Quarter
Net unrealized gains on marketable securities	`UnrealizedGainLossOnInvestments`	$81.21M	USD	1 Quarter
Interest expense on debt	`InterestExpenseDebt`	$64.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$81.45M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$22.18M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.27M	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 per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$42.93	USD	1 Quarter
Basic and diluted net income per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$10.29	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$59.27M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.21M	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.27M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$128.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$115.00K	USD	1 Quarter
Net unrealized gains on marketable securities	`UnrealizedGainLossOnInvestments`	$19.53M	USD	1 Quarter
Net unrealized gains on marketable securities	`UnrealizedGainLossOnInvestments`	$81.21M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$22.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$5.20M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$496.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$128.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-9.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-61.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$250.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-4.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-81.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-243.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-663.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.25M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-495.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.78M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.13M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-97.00K	USD	1 Quarter
Payment to margin loan principal	`RepaymentsOfOtherLongTermDebt`	-	USD	1 Quarter
Payment to margin loan principal	`RepaymentsOfOtherLongTermDebt`	$14.49M	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$31.00K	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$23.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.52M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.00K	USD	1 Quarter
Decrease in cash and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.30M	USD	1 Quarter
Decrease in cash and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.25M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.38M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.63M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.96M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.66M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.38M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.63M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.96M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.66M	USD	Point-in-time
Interest paid during period	`InterestPaidNet`	$90.00K	USD	1 Quarter
Interest paid during period	`InterestPaidNet`	$220.00K	USD	1 Quarter
Net income taxes paid	`IncomeTaxesPaidNet`	$1.00K	USD	1 Quarter
Net income taxes paid	`IncomeTaxesPaidNet`	$5.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$151.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$137.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$201.01M	USD	Point-in-time
Net income	`NetIncomeLoss`	$14.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.27M	USD	1 Quarter
Balance	`StockholdersEquity`	$151.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$137.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$201.01M	USD	Point-in-time

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