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10-Q Filing

RUSH ENTERPRISES INC TX CIK: 1012019 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001437749-21-011271
Period End Date 20210331
Filing Date 20210507
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance rusha20210331_10q_htm.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $312.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.62M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $316.07M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $187.17M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $172.48M USD Point-in-time
Inventories, net InventoryNet $877.88M USD Point-in-time
Inventories, net InventoryNet $858.29M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $14.91M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $15.63M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Total current assets AssetsCurrent $1.36B USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Total current assets AssetsCurrent $1.40B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.18B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.20B 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 $60.58M 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 $64.51M 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 $71.58M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $71.23M USD Point-in-time
Total assets Assets $3.24B USD Point-in-time
Total assets Assets $2.99B USD Point-in-time
Total assets Assets $3.01B USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $511.79M USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $550.30M USD Point-in-time
Current maturities of long-term debt LongtermDebtCurrentMaturitiesExcludingLineOfCredit $135.52M USD Point-in-time
Current maturities of long-term debt LongtermDebtCurrentMaturitiesExcludingLineOfCredit $141.67M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $26.45M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $26.37M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $10.20M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $10.33M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $136.33M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $110.73M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $74.21M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $42.97M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $151.83M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $126.41M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.03B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.03B USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $369.59M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $387.98M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $93.58M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $90.74M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $51.16M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $55.23M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $34.42M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $34.25M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $126.44M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $118.06M USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2021 and 2020 PreferredStockValue - USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2021 and 2020 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; 42,885,268 Class A shares and 12,659,918 Class B shares outstanding in 2021; and 42,503,925 Class A shares and 12,470,308 Class B shares outstanding in 2020 CommonStockValue $551.00K 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; 42,885,268 Class A shares and 12,659,918 Class B shares outstanding in 2021; and 42,503,925 Class A shares and 12,470,308 Class B shares outstanding in 2020 CommonStockValue $558.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $437.65M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $449.79M USD Point-in-time
Treasury stock, at cost: 12,999 Class A shares and 228,849 Class B shares in 2021; and 10,335 Class A shares and 73,437 Class B shares in 2020 TreasuryStockValue $2.88M USD Point-in-time
Treasury stock, at cost: 12,999 Class A shares and 228,849 Class B shares in 2021; and 10,335 Class A shares and 73,437 Class B shares in 2020 TreasuryStockValue $9.36M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $867.12M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $831.85M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.12M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $869.00K USD Point-in-time
Total shareholders equity StockholdersEquity $1.16B USD Point-in-time
Total shareholders equity StockholdersEquity $1.17B USD Point-in-time
Total shareholders equity StockholdersEquity $1.27B USD Point-in-time
Total shareholders equity StockholdersEquity $1.31B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $3.01B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.99B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.17B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.23B USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $58.23M USD 1 Quarter
Lease and rental OperatingLeasesIncomeStatementLeaseRevenue $60.78M USD 1 Quarter
Total revenue Revenues $1.29B USD 1 Quarter
Total revenue Revenues $1.23B USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $52.21M USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $48.06M USD 1 Quarter
Total cost of products sold CostOfRevenue $1.05B USD 1 Quarter
Total cost of products sold CostOfRevenue $986.99M USD 1 Quarter
Gross profit GrossProfit $244.81M USD 1 Quarter
Gross profit GrossProfit $234.50M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $174.96M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $185.07M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $13.73M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $14.33M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $92.00K 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 $56.23M USD 1 Quarter
Other income NonoperatingIncomeExpense $919.00K USD 1 Quarter
Other income NonoperatingIncomeExpense $1.24M USD 1 Quarter
Interest expense, net InterestExpense $507.00K USD 1 Quarter
Interest expense, net InterestExpense $4.77M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $31.67M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $56.64M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $8.56M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $11.30M USD 1 Quarter
Net income NetIncomeLoss $45.33M USD 1 Quarter
Net income NetIncomeLoss $23.11M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.42 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.82 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.41 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.79 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 55.57M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 54.73M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 55.99M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 57.73M shares 1 Quarter
Dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.18 USD 1 Quarter
Dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.09 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $21.18M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $45.59M USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $45.33M USD 1 Quarter
Net income NetIncomeLoss $23.11M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $45.19M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $42.60M 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 $92.00K USD 1 Quarter
Stock-based compensation expense related to employee stock options and employee stock purchases ShareBasedCompensation $11.52M 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 $-8.38M USD 1 Quarter
Provision for deferred income tax expense DeferredIncomeTaxExpenseBenefit $-7.16M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $14.69M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $30.89M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $1.80M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $-153.57M USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $729.00K USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-6.00M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $-11.67M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $23.90M USD 1 Quarter
Payments on floor plan notes payable trade, net IncreaseDecreaseInFloorPlanNotesPayableTradeNet $-15.08M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-16.70M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-31.24M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-25.50M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-15.26M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-747.00K USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-795.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $138.81M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $40.14M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $49.49M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $32.93M USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $136.00K USD 1 Quarter
Proceeds from the sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $172.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-638.00K 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 $-32.16M USD 1 Quarter
Draws (payments) on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $-92.58M USD 1 Quarter
Draws (payments) on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $38.52M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $28.23M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $20.12M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfMediumTermNotes $44.67M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfMediumTermNotes $45.45M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $2.01M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $2.09M USD 1 Quarter
Proceeds from issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $909.00K USD 1 Quarter
Proceeds from issuance of shares relating to employee stock options and employee stock purchases ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $631.00K USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $9.91M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $4.75M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $19.90M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $6.56M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-135.56M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.96M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.02M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-44.08M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $312.05M 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 $316.07M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $312.05M 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 $316.07M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $137.54M USD Point-in-time
Interest InterestPaidNet $12.56M USD 1 Quarter
Interest InterestPaidNet $7.26M USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $27.55M USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $-2.00K USD 1 Quarter
Assets acquired under finance leases FairValueOfAssetsAcquired $10.37M 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 $1.16B USD Point-in-time
Balance StockholdersEquity $1.17B USD Point-in-time
Balance StockholdersEquity $1.27B USD Point-in-time
Balance StockholdersEquity $1.31B USD Point-in-time
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $1.42M USD 1 Quarter
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $5.42M USD 1 Quarter
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition $11.52M 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 $-6.78M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.90M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.99M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $6.48M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $19.90M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $255.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.93M USD 1 Quarter
Net income NetIncomeLoss $45.33M USD 1 Quarter
Net income NetIncomeLoss $23.11M USD 1 Quarter
Balance StockholdersEquity $1.16B USD Point-in-time
Balance StockholdersEquity $1.17B USD Point-in-time
Balance StockholdersEquity $1.27B USD Point-in-time
Balance StockholdersEquity $1.31B USD Point-in-time

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

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