10-Q Filing

DAILY JOURNAL CORP CIK: 783412 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-003100`
Period End Date	20211231
Filing Date	20220211
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	djco20211231_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 45 Cash Flow Statement 57 Stockholders Equity 10

Balance Sheet 87 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.60M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.81M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.79M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.81M	shares	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.04M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.04M	USD	Point-in-time
Common stock, treasury shares (in shares)	`TreasuryStockShares`	424,307.00	shares	Point-in-time
Marketable securities at fair value -- common stocks	`MarketableSecuritiesCurrent`	$347.57M	USD	Point-in-time
Marketable securities at fair value -- common stocks	`MarketableSecuritiesCurrent`	$395.28M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $250,000 at December 31, 2021 and September 30, 2021	`AccountsReceivableNetCurrent`	$9.52M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $250,000 at December 31, 2021 and September 30, 2021	`AccountsReceivableNetCurrent`	$7.17M	USD	Point-in-time
Inventories	`InventoryNet`	$55.00K	USD	Point-in-time
Inventories	`InventoryNet`	$43.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$523.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$557.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$372.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$417.87M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.50M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$16.50M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$1.69M	USD	Point-in-time
Furniture, office equipment and computer software	`FurnitureOfficeEquipmentAndComputerSoftware`	$1.69M	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`	$19.71M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$19.71M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.71M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.81M	USD	Point-in-time
Property, Plant and Equipment, Net, Ending Balance	`PropertyPlantAndEquipmentNet`	$9.90M	USD	Point-in-time
Property, Plant and Equipment, Net, Ending Balance	`PropertyPlantAndEquipmentNet`	$10.01M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$215.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$184.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.02M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.05M	USD	Point-in-time
Assets, Total	`Assets`	$436.01M	USD	Point-in-time
Assets, Total	`Assets`	$390.58M	USD	Point-in-time
Assets, Total	`Assets`	$303.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.70M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$6.05M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.73M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$6.24M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$18.77M	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$147.00K	USD	Point-in-time
Note payable collateralized by real estate	`LoansPayableToBankCurrent`	$149.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.02M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$32.00M	USD	Point-in-time
Investment margin account borrowings	`InvestmentMarginAccount`	$69.01M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.39M	USD	Point-in-time
Note payable collateralized by real estate	`LongTermLoansFromBank`	$1.43M	USD	Point-in-time
Deferred maintenance agreements and others	`ContractWithCustomerLiabilityNoncurrent`	$995.00K	USD	Point-in-time
Deferred maintenance agreements and others	`ContractWithCustomerLiabilityNoncurrent`	$656.00K	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$3.38M	USD	Point-in-time
Accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$3.23M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$56.17M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$64.11M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$130.47M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$101.92M	USD	Point-in-time
Commitments and contingencies (Notes 9 and 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
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, 2021 and September 30, 2021	`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, 2021 and September 30, 2021	`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`	$259.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$252.87M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$201.01M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$254.64M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$261.52M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$141.74M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$436.01M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$390.58M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Revenue from Contract with Customer, Including Assessed Tax	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.42M	USD	1 Quarter
Revenue from Contract with Customer, Including Assessed Tax	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.53M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$7.89M	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$8.35M	USD	1 Quarter
Outside services	`OtherOutsideServices`	$723.00K	USD	1 Quarter
Outside services	`OtherOutsideServices`	$924.00K	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$163.00K	USD	1 Quarter
Postage and delivery expenses	`PostageAndHandDelivery`	$169.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$154.00K	USD	1 Quarter
Newsprint and printing expenses	`NewsprintAndContractPrintings`	$159.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$115.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$104.00K	USD	1 Quarter
Equipment maintenance and software	`EquipmentMaintenanceAndSoftware`	$240.00K	USD	1 Quarter
Equipment maintenance and software	`EquipmentMaintenanceAndSoftware`	$253.00K	USD	1 Quarter
Credit card merchant discount fees	`CreditCardMerchantDiscountFees`	$411.00K	USD	1 Quarter
Credit card merchant discount fees	`CreditCardMerchantDiscountFees`	$450.00K	USD	1 Quarter
Rent expenses	`OperatingLeaseExpense`	$65.00K	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`	$320.00K	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$557.00K	USD	1 Quarter
Other general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$739.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.73M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-315.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$56.00K	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$638.00K	USD	1 Quarter
Dividends and interest income	`InvestmentIncomeInterestAndDividend`	$875.00K	USD	1 Quarter
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	$46.69M	USD	Point-in-time
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	-	USD	1 Quarter
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	$46.69M	USD	1 Quarter
Net unrealized losses (gains) on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-36.09M	USD	1 Quarter
Net unrealized losses (gains) on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$81.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$81.45M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.44M	USD	1 Quarter
Income tax provisions	`IncomeTaxExpenseBenefit`	$22.18M	USD	1 Quarter
Income tax provisions	`IncomeTaxExpenseBenefit`	$4.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	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`	$4.98	USD	1 Quarter
Basic and diluted net income per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$42.93	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$59.27M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.88M	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$59.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$115.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$104.00K	USD	1 Quarter
Net unrealized losses (gains) on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-36.09M	USD	1 Quarter
Net unrealized losses (gains) on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$81.21M	USD	1 Quarter
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	$46.69M	USD	Point-in-time
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	-	USD	1 Quarter
Realized gains on sales of marketable securities	`MarketableSecuritiesRealizedGainLoss`	$46.69M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-7.97M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$22.17M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-2.35M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$128.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-9.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-131.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-4.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-243.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-535.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.42M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.32M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-315.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.53M	USD	1 Quarter
Net cash provided from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.78M	USD	1 Quarter
Net cash provided from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$325.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$50.02M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$50.02M	USD	Point-in-time
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$87.12M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$87.12M	USD	Point-in-time
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Payment to margin loan principal	`RepaymentsOfOtherLongTermDebt`	-	USD	1 Quarter
Payment to margin loan principal	`RepaymentsOfOtherLongTermDebt`	$14.49M	USD	1 Quarter
Borrowing from margin loan account	`ProceedsFromIssuanceOfOtherLongTermDebt`	-	USD	1 Quarter
Borrowing from margin loan account	`ProceedsFromIssuanceOfOtherLongTermDebt`	$37.01M	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$23.00K	USD	1 Quarter
Payment of real estate loan principal	`RepaymentsOfSecuredDebt`	$36.00K	USD	1 Quarter
Net cash provided from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.98M	USD	1 Quarter
Net cash provided from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.52M	USD	1 Quarter
Increase (decrease) in cash and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$198.00K	USD	1 Quarter
Increase (decrease) in cash and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.30M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.96M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.64M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.66M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.84M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.96M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.64M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.66M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.84M	USD	Point-in-time
Interest paid during period	`InterestPaidNet`	$90.00K	USD	1 Quarter
Interest paid during period	`InterestPaidNet`	$92.00K	USD	1 Quarter
Net income taxes paid	`IncomeTaxesPaidNet`	-	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`	$201.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$254.64M	USD	Point-in-time
Balance	`StockholdersEquity`	$261.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.74M	USD	Point-in-time
Net income	`NetIncomeLoss`	$59.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Balance	`StockholdersEquity`	$201.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$254.64M	USD	Point-in-time
Balance	`StockholdersEquity`	$261.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.74M	USD	Point-in-time

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