10-Q Filing

MARTEN TRANSPORT LTD CIK: 799167 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-011121`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	mrtn20220331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 39 Cash Flow Statement 51 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.99M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	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
Trade, net	`AccountsReceivableNetCurrent`	$99.00M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$126.81M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other	`NontradeReceivablesCurrent`	$4.32M	USD	Point-in-time
Other	`NontradeReceivablesCurrent`	$6.97M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$23.98M	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`	$22.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$220.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$186.95M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	81.95M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	83.03M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	81.95M	shares	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$956.48M	USD	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$955.76M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	83.03M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$291.94M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$274.20M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$663.82M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$682.28M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.46M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.54M	USD	Point-in-time
Total assets	`Assets`	$870.69M	USD	Point-in-time
Total assets	`Assets`	$885.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$29.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.15M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$42.01M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$42.59M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$37.63M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$31.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$109.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.56M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$125.16M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$126.92M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$336.00K	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$291.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$236.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$219.01M	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; 81,946,875 shares at March 31, 2022, and 83,034,404 shares at December 31, 2021, issued and outstanding	`CommonStockValue`	$830.00K	USD	Point-in-time
Common stock, $.01 par value per share; 192,000,000 shares authorized; 81,946,875 shares at March 31, 2022, and 83,034,404 shares at December 31, 2021, issued and outstanding	`CommonStockValue`	$819.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$60.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$85.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$565.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$587.69M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$651.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$648.76M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$885.40M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$870.69M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$223.05M	USD	1 Quarter
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$287.28M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$73.00M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$89.35M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$57.31M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$40.77M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$44.37M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$28.94M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$12.31M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$11.02M	USD	1 Quarter
Depreciation	`Depreciation`	$25.69M	USD	1 Quarter
Depreciation	`Depreciation`	$26.14M	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`	$12.70M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$11.45M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$2.27M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$2.08M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$8.87M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$5.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$199.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$251.42M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.86M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$24.00M	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$7.00K	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`	$35.87M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$8.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$67.42M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$27.53M	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`	$0.33	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.33	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`	$0.06	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.04	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$67.42M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$27.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Depreciation	`Depreciation`	$25.69M	USD	1 Quarter
Depreciation	`Depreciation`	$26.14M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.56M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.64M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.75M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$369.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$336.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$4.24M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$26.26M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.45M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-886.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$677.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.57M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$2.12M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$578.00K	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-1.20M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$6.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.94M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.57M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$38.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$37.00K	USD	1 Quarter
Net cash provided by/(used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.42M	USD	1 Quarter
Net cash provided by/(used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$409.00K	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	$25.00M	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$4.97M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$3.31M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises, deferred compensation plan distributions and vesting of performance unit awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$768.00K	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises, deferred compensation plan distributions and vesting of performance unit awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$161.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.61M	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$547.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.82M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.70M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.53M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$22.46M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$56.99M	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`	$66.53M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$56.99M	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`	$66.53M	USD	Point-in-time
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$5.50M	USD	1 Quarter
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$4.39M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.35M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$872.00K	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$620.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$648.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$651.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$634.98M	USD	Point-in-time
Net income	`NetIncomeLoss`	$67.42M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$27.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$715.00K	USD	3 Qtrs
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`	$768.00K	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`	$1.61M	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$2.20M	USD	3 Qtrs
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$336.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.18M	USD	3 Qtrs
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$369.00K	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$3.31M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$4.97M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$51.42M	USD	3 Qtrs
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	Annual
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	1.30M	shares	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$25.00M	USD	1 Quarter
Balance	`StockholdersEquity`	$620.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$648.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$651.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$634.98M	USD	Point-in-time

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