10-Q Filing

MARTEN TRANSPORT LTD CIK: 799167 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-011225`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	mrtn20210331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 39 Cash Flow Statement 55 Stockholders Equity 26

Balance Sheet 62 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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.13M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$88.58M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$89.55M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$83.43M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other	`NontradeReceivablesCurrent`	$4.20M	USD	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
Other	`NontradeReceivablesCurrent`	$3.49M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$21.90M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$19.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$175.66M	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`	$201.06M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	82.71M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	82.77M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	82.77M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	82.71M	shares	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$934.40M	USD	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$930.12M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$281.81M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$275.95M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$654.17M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$652.59M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.70M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Total assets	`Assets`	$855.35M	USD	Point-in-time
Total assets	`Assets`	$831.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$32.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.70M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$39.59M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$41.71M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$24.08M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$24.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$89.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$97.85M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$121.10M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$122.18M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$411.00K	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$337.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$211.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$220.37M	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; 82,774,936 shares at March 31, 2021, and 82,705,005 shares at December 31, 2020, issued and outstanding	`CommonStockValue`	$827.00K	USD	Point-in-time
Common stock, $.01 par value per share; 192,000,000 shares authorized; 82,774,936 shares at March 31, 2021, and 82,705,005 shares at December 31, 2020, issued and outstanding	`CommonStockValue`	$828.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$85.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$85.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$534.44M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$549.13M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$620.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$634.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$855.35M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$831.64M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$218.65M	USD	1 Quarter
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$223.05M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$72.76M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$73.00M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$40.77M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$40.45M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$28.94M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$28.30M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$11.02M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$12.23M	USD	1 Quarter
Depreciation	`Depreciation`	$25.43M	USD	1 Quarter
Depreciation	`Depreciation`	$25.69M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.64M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.71M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$12.28M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$11.45M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$2.08M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$1.99M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$5.39M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$6.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$200.61M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$199.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$24.00M	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$97.00K	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$10.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.01M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.13M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$4.41M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$55.78M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.22	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 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$55.78M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Depreciation	`Depreciation`	$25.43M	USD	1 Quarter
Depreciation	`Depreciation`	$25.69M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.71M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.64M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.77M	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$246.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$336.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$782.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$4.24M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-930.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.45M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$677.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$617.00K	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$2.69M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$2.12M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-1.29M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-1.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.48M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$39.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$37.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.63M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.42M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$2.19M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$3.31M	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	$597.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.05M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$161.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$437.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$547.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.70M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.17M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$22.46M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.67M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$36.14M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$66.13M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$88.58M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$31.46M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$36.14M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$66.13M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$88.58M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$31.46M	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`	$5.50M	USD	1 Quarter
Operating lease assets and liabilities acquired	`OperatingLeaseAssetsAndLiabilitiesAcquired`	-	USD	1 Quarter
Operating lease assets and liabilities acquired	`OperatingLeaseAssetsAndLiabilitiesAcquired`	$88.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$1.35M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$609.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$634.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$620.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$597.59M	USD	Point-in-time
Net income	`NetIncomeLoss`	$55.78M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	1 Quarter
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	3 Qtrs
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	53,064.00	shares	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$597.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$161.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$3.74M	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
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$547.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$437.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$246.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.60M	USD	3 Qtrs
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$336.00K	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$50.17M	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$3.31M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$2.19M	USD	1 Quarter
Balance	`StockholdersEquity`	$609.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$634.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$620.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$597.59M	USD	Point-in-time

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