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10-Q Filing

RUSH ENTERPRISES INC TX CIK: 1012019 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001437749-22-011665
Period End Date 20220331
Filing Date 20220510
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance rusha20220331_10q_htm.xml
Filing Contents
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $316.07M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $312.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $209.53M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $148.15M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $140.19M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $186.76M USD Point-in-time
Inventories, net InventoryNet $1.11B USD Point-in-time
Inventories, net InventoryNet $1.02B USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $15.99M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $16.23M 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
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Total current assets AssetsCurrent $1.32B USD Point-in-time
Total current assets AssetsCurrent $1.52B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.28B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.27B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares 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 $69.01M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $65.67M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Goodwill, net Goodwill $370.33M USD Point-in-time
Goodwill, net Goodwill $370.33M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $77.98M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $96.37M USD Point-in-time
Total assets Assets $3.12B USD Point-in-time
Total assets Assets $3.32B USD Point-in-time
Total assets Assets $3.01B USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $630.73M USD Point-in-time
Floor plan notes payable FloorPlanNotesPayable $702.21M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $26.70M USD Point-in-time
Current maturities of finance lease obligations FinanceLeaseLiabilityCurrent $26.91M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $11.99M USD Point-in-time
Current maturities of operating lease obligations OperatingLeaseLiabilityCurrent $12.10M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $171.12M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $122.29M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $80.56M USD Point-in-time
Customer deposits ContractWithCustomerLiabilityCurrent $71.85M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $131.13M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $144.63M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.13B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.00B USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $338.43M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $334.93M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $89.83M USD Point-in-time
Finance lease obligations, net of current maturities FinanceLeaseLiabilityNoncurrent $85.52M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $54.78M USD Point-in-time
Operating lease obligations, net of current maturities OperatingLeaseLiabilityNoncurrent $57.98M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $27.59M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $26.51M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $140.47M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $141.49M USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2022 and 2021 PreferredStockValue - USD Point-in-time
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2022 and 2021 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; 43,093,711 Class A shares and 12,597,341 Class B shares outstanding in 2022; and 43,107,867 Class A shares and 12,398,606 Class B shares outstanding in 2021 CommonStockValue $563.00K 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; 43,093,711 Class A shares and 12,597,341 Class B shares outstanding in 2022; and 43,107,867 Class A shares and 12,398,606 Class B shares outstanding in 2021 CommonStockValue $568.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $470.75M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $482.15M USD Point-in-time
Treasury stock, at cost: 531,969 Class A shares and 596,298 Class B shares in 2022; and 339,786 Class A shares and 492,052 Class B shares in 2021 TreasuryStockValue $36.93M USD Point-in-time
Treasury stock, at cost: 531,969 Class A shares and 596,298 Class B shares in 2022; and 339,786 Class A shares and 492,052 Class B shares in 2021 TreasuryStockValue $52.25M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.03B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.11B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.23M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $787.00K USD Point-in-time
Total shareholders equity StockholdersEquity $1.27B USD Point-in-time
Total shareholders equity StockholdersEquity $1.47B USD Point-in-time
Total shareholders equity StockholdersEquity $1.55B USD Point-in-time
Total shareholders equity StockholdersEquity $1.31B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $3.32B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $3.12B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.49B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.17B USD 1 Quarter
Lease and rental LeaseIncome $71.33M USD 1 Quarter
Lease and rental LeaseIncome $58.23M USD 1 Quarter
Total revenue Revenues $1.56B USD 1 Quarter
Total revenue Revenues $1.23B USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $48.56M USD 1 Quarter
Lease and rental CostOfRevenueLeaseAndRental $48.06M USD 1 Quarter
Total cost of products sold CostOfRevenue $986.99M USD 1 Quarter
Total cost of products sold CostOfRevenue $1.22B USD 1 Quarter
Gross profit GrossProfit $244.81M USD 1 Quarter
Gross profit GrossProfit $345.44M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $174.96M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $224.45M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $13.73M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $13.67M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $180.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $92.00K USD 1 Quarter
Operating income OperatingIncomeLoss $107.50M USD 1 Quarter
Operating income OperatingIncomeLoss $56.23M USD 1 Quarter
Other income NonoperatingIncomeExpense $919.00K USD 1 Quarter
Other income NonoperatingIncomeExpense $14.06M USD 1 Quarter
Interest expense, net InterestExpense $1.22M USD 1 Quarter
Interest expense, net InterestExpense $507.00K USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $120.34M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $56.64M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $11.30M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $27.89M USD 1 Quarter
Net income NetIncomeLoss $92.45M USD 1 Quarter
Net income NetIncomeLoss $45.33M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.65 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.82 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.60 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.79 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 55.94M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 55.57M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 57.91M 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 $0.19 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $92.90M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $45.59M USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $92.45M USD 1 Quarter
Net income NetIncomeLoss $45.33M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $42.60M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $45.81M USD 1 Quarter
Gain on sale of property and equipment, net GainLossOnSaleOfPropertyPlantEquipment $179.00K USD 1 Quarter
Gain on sale of property and equipment, net GainLossOnSaleOfPropertyPlantEquipment $92.00K USD 1 Quarter
Gain on joint venture transaction GainLossOnJointVentureTransaction $12.50M USD 1 Quarter
Gain on joint venture transaction GainLossOnJointVentureTransaction - 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 $13.79M USD 1 Quarter
Provision for deferred income tax expense DeferredIncomeTaxExpenseBenefit $1.02M USD 1 Quarter
Provision for deferred income tax expense DeferredIncomeTaxExpenseBenefit $-8.38M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $58.81M USD 1 Quarter
Change in accounts receivable, net IncreaseDecreaseInReceivables $14.69M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $98.29M USD 1 Quarter
Change in inventories IncreaseDecreaseInInventories $1.80M USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $578.00K USD 1 Quarter
Change in prepaid expenses and other, net IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $729.00K USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $23.90M USD 1 Quarter
Change in trade accounts payable IncreaseDecreaseInAccountsPayableTrade $49.66M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-31.24M USD 1 Quarter
Change in customer deposits IncreaseDecreaseInContractWithCustomerLiability $-8.71M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $14.57M USD 1 Quarter
Change in accrued expenses IncreaseDecreaseInAccruedLiabilities $-25.50M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $3.65M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $795.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $34.59M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $40.14M USD 1 Quarter
Acquisition of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $45.69M 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 $2.63M USD 1 Quarter
Business disposition ProceedsFromDivestitureOfBusinesses - USD 1 Quarter
Business disposition ProceedsFromDivestitureOfBusinesses $27.50M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-638.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $736.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-16.29M 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 $38.52M USD 1 Quarter
Draws (payments) on floor plan notes payable non-trade, net IncreaseDecreaseInFloorPlanPayableNet $71.48M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $20.12M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $207.50M USD 1 Quarter
Principal payments on long-term debt PrincipalRepaymentsOfLongtermDebt $204.00M USD 1 Quarter
Principal payments on long-term debt PrincipalRepaymentsOfLongtermDebt $44.67M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $2.09M USD 1 Quarter
Principal payments on finance lease obligations FinanceLeasePrincipalPayments $4.00M USD 1 Quarter
Proceeds from issuance of shares relating to equity awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $7.41M USD 1 Quarter
Proceeds from issuance of shares relating to equity awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $4.82M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.21M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $6.78M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $9.91M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $11.08M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $14.42M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $6.56M USD 1 Quarter
Net cash provided by (used) in financing activities NetCashProvidedByUsedInFinancingActivities $-3.96M USD 1 Quarter
Net cash provided by (used) in financing activities NetCashProvidedByUsedInFinancingActivities $43.09M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $61.38M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.02M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $316.07M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $312.05M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $209.53M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $148.15M 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 $312.05M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $209.53M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $148.15M USD Point-in-time
Interest InterestPaidNet $7.26M USD 1 Quarter
Interest InterestPaidNet $2.24M USD 1 Quarter
Income taxes (refund) paid, net IncomeTaxesPaidNet $27.55M USD 1 Quarter
Income taxes (refund) paid, net IncomeTaxesPaidNet $-14.00K USD 1 Quarter
Assets acquired under finance leases FairValueOfAssetsAcquired $2.67M USD 1 Quarter
Assets acquired under finance leases FairValueOfAssetsAcquired $10.37M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $1.27B USD Point-in-time
Balance StockholdersEquity $1.47B USD Point-in-time
Balance StockholdersEquity $1.55B USD Point-in-time
Balance StockholdersEquity $1.31B USD Point-in-time
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $5.42M USD 1 Quarter
Stock options exercised and stock awards StockIssuedDuringPeriodValueStockOptionsExercised $2.38M USD 1 Quarter
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $13.79M USD 1 Quarter
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.52M USD 1 Quarter
Vesting of restricted share awards StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-7.21M USD 1 Quarter
Vesting of restricted share awards StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-6.78M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.99M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $2.44M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $15.31M USD 1 Quarter
Common stock repurchases TreasuryStockValueAcquiredCostMethod $6.48M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossNetOfTax $445.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossNetOfTax $255.00K USD 1 Quarter
Net income NetIncomeLoss $92.45M USD 1 Quarter
Net income NetIncomeLoss $45.33M USD 1 Quarter
Balance StockholdersEquity $1.27B USD Point-in-time
Balance StockholdersEquity $1.47B USD Point-in-time
Balance StockholdersEquity $1.55B 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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