10-Q Filing

MARTEN TRANSPORT LTD CIK: 799167 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-012671`
Period End Date	20230331
Filing Date	20230505
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	mrtn20230331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 39 Cash Flow Statement 51 Stockholders Equity 30

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.60M	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`	$115.43M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$120.70M	USD	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other	`NontradeReceivablesCurrent`	$7.99M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other	`NontradeReceivablesCurrent`	$7.22M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	192.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$27.32M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$24.21M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	192.00M	shares	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	81.23M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$235.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$243.91M	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	81.12M	shares	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	81.23M	shares	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	81.12M	shares	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$1.08B	USD	Point-in-time
Revenue equipment, buildings and land, office equipment and other	`PropertyPlantAndEquipmentGross`	$1.07B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$348.64M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$346.67M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$733.72M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$728.17M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.64M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.67M	USD	Point-in-time
Total assets	`Assets`	$979.27M	USD	Point-in-time
Total assets	`Assets`	$965.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$41.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.30M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$48.97M	USD	Point-in-time
Insurance and claims accruals	`AccruedInsuranceCurrent`	$45.75M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$29.08M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherLiabilitiesCurrent`	$41.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$119.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$124.31M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$137.04M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$137.82M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$335.00K	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$409.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$261.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$257.76M	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; 81,233,741 shares at March 31, 2023, and 81,115,132 shares at December 31, 2022, issued and outstanding	`CommonStockValue`	$811.00K	USD	Point-in-time
Common stock, $.01 par value per share; 192,000,000 shares authorized; 81,233,741 shares at March 31, 2023, and 81,115,132 shares at December 31, 2022, issued and outstanding	`CommonStockValue`	$812.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$47.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$47.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$655.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$673.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$703.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$721.51M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$979.27M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$965.68M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$287.28M	USD	1 Quarter
Operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$298.02M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$98.52M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$89.35M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$54.10M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$57.31M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$44.37M	USD	1 Quarter
Fuel and fuel taxes	`FuelAndFuelTaxExpense`	$46.80M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$15.99M	USD	1 Quarter
Supplies and maintenance	`SuppliesAndMaintenanceExpense`	$12.31M	USD	1 Quarter
Depreciation	`Depreciation`	$26.14M	USD	1 Quarter
Depreciation	`Depreciation`	$29.53M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.64M	USD	1 Quarter
Operating taxes and licenses	`TaxesAndLicenses`	$2.77M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$12.70M	USD	1 Quarter
Insurance and claims	`GeneralInsuranceExpense`	$15.07M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$2.27M	USD	1 Quarter
Communications and utilities	`CommunicationsAndUtilitiesExpense`	$2.53M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$8.87M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$8.96M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$251.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$269.01M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$29.01M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.86M	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other	`NonoperatingIncomeExpense`	$844.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.87M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$29.85M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$8.33M	USD	1 Quarter
Income taxes expense	`IncomeTaxExpenseBenefit`	$7.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$27.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.82M	USD	3 Qtrs
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.28	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`	$0.28	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$27.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.82M	USD	3 Qtrs
Depreciation	`Depreciation`	$26.14M	USD	1 Quarter
Depreciation	`Depreciation`	$29.53M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.56M	USD	1 Quarter
Tires in service amortization	`AmortizationExpenseForTiresInService`	$1.76M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$784.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.75M	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$354.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AllocatedShareBasedCompensationExpense`	$369.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$26.26M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-9.13M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-886.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.57M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.69M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$3.22M	USD	1 Quarter
Insurance and claims accruals	`IncreaseDecreaseInInsuranceLiabilities`	$578.00K	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedOtherCurrentLiabilities`	$-8.35M	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`	$49.23M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$45.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$38.00K	USD	1 Quarter
Net cash (used for)/provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.28M	USD	1 Quarter
Net cash (used for)/provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$409.00K	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$4.87M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$4.97M	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
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`	$536.00K	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`	$926.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.26M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.82M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.53M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$15.69M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$66.53M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$56.99M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$96.29M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$80.60M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$66.53M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$56.99M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$96.29M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$80.60M	USD	Point-in-time
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$4.39M	USD	1 Quarter
Change in property and equipment not yet paid	`IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid`	$2.56M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$22.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$872.00K	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$651.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$648.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$703.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$721.51M	USD	Point-in-time
Net income	`NetIncomeLoss`	$27.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.82M	USD	3 Qtrs
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	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`	1.31M	shares	1 Quarter
Repurchase and retirement of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	963,000.00	shares	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$25.00M	USD	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$16.75M	USD	3 Qtrs
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$16.80M	USD	1 Quarter
Issuance of common stock from share-based payment arrangement exercises, deferred compensation plan distributions and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$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	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.23M	USD	3 Qtrs
Issuance of common stock from share-based payment arrangement exercises, deferred compensation plan distributions and vesting of performance unit awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$536.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$926.00K	USD	1 Quarter
Employee taxes paid in exchange for shares withheld	`AdjustmentsToAdditionalPaidInCapitalEmployeeTaxesPaidInExhangeForSharesWitheld`	$1.61M	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$354.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$369.00K	USD	1 Quarter
Share-based payment arrangement compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.44M	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$14.59M	USD	3 Qtrs
Dividends on common stock	`DividendsCommonStockCash`	$4.97M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$4.87M	USD	1 Quarter
Balance	`StockholdersEquity`	$651.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$648.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$703.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$721.51M	USD	Point-in-time

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