10-Q Filing

DOUGLAS DYNAMICS, INC CIK: 1287213 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-006612`
Period End Date	20180630
Filing Date	20180807
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	plow-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 74 Cash Flow Statement 55

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
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	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.59M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.70M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.59M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$95.04M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.70M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$79.12M	USD	Point-in-time
Inventories	`InventoryNet`	$71.52M	USD	Point-in-time
Inventories	`InventoryNet`	$84.63M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$7.71M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$3.66M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.93M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$186.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$198.11M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$53.96M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$54.13M	USD	Point-in-time
Goodwill	`Goodwill`	$241.01M	USD	Point-in-time
Goodwill	`Goodwill`	$241.01M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$186.15M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$180.41M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$5.95M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.88M	USD	Point-in-time
Total assets	`Assets`	$673.51M	USD	Point-in-time
Total assets	`Assets`	$685.18M	USD	Point-in-time
Total assets	`Assets`	$668.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.32M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$23.88M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$21.00M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$3.66M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$7.71M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.35M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.75M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$32.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$80.78M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.81M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$7.01M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$9.76M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$9.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$42.85M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$39.27M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$274.87M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$273.91M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.00M	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,700,991 and 22,590,897 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$227.00K	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,700,991 and 22,590,897 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$226.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$147.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$115.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$123.21M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.95M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.67M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.78M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$270.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$256.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$685.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$668.69M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$163.45M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$211.62M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$247.41M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$139.37M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$149.40M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$94.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$107.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$171.53M	USD	2 Qtrs
Gross profit	`GrossProfit`	$45.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$62.22M	USD	2 Qtrs
Gross profit	`GrossProfit`	$75.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$55.85M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$31.62M	USD	2 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$36.69M	USD	2 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$20.54M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$16.75M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.79M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$5.54M	USD	2 Qtrs
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.87M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$5.74M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$33.45M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$25.06M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$25.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$32.44M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-8.04M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-9.49M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.10M	USD	1 Quarter
Litigation proceeds	`GainLossRelatedToLitigationSettlement`	$1.27M	USD	2 Qtrs
Litigation proceeds	`GainLossRelatedToLitigationSettlement`	$1.27M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-230.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-467.00K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-466.00K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-264.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.38M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.35M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.08M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.94M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$6.92M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.65M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$7.61M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.91M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.75M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.47M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.29M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$21.16M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.59M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.56M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.66M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.61M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.68M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.57M	shares	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.50	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.84	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.64	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.92	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.64	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.91	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.50	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.83	USD	2 Qtrs
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.27	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.53	USD	2 Qtrs
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.48	USD	2 Qtrs
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.27	USD	1 Quarter
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.53	USD	2 Qtrs
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.48	USD	2 Qtrs
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$22.13M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$11.19M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$14.51M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$21.08M	USD	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.75M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.47M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.29M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$21.16M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.43M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.01M	USD	2 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$607.00K	USD	2 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$607.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.17M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.11M	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$314.00K	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.08M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$3.05M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$3.58M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.85M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$14.98M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.43M	USD	2 Qtrs
Prepaid assets, refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.12M	USD	2 Qtrs
Prepaid assets, refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$355.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.39M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$709.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.23M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.35M	USD	2 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.75M	USD	2 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$610.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.99M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.34M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$4.08M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.15M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.84M	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.60M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.08M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.75M	USD	2 Qtrs
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$23.00K	USD	2 Qtrs
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$923.00K	USD	2 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$932.00K	USD	2 Qtrs
Earnout payment	`EarnoutPayment`	$-5.49M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$12.19M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.99M	USD	2 Qtrs
Net revolver borrowings	`ProceedsFromLinesOfCredit`	$3.00M	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$31.57M	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$1.58M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.91M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-43.79M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.32M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-36.88M	USD	2 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$26.66M	USD	2 Qtrs
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$14.88M	USD	2 Qtrs

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