10-Q Filing

DOUGLAS DYNAMICS, INC CIK: 1287213 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-008648`
Period End Date	20180930
Filing Date	20181106
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	plow-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 73 Cash Flow Statement 58

Balance Sheet 69 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
Common Stock, shares issued	`CommonStockSharesIssued`	22.70M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.59M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.59M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.70M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$79.12M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$128.16M	USD	Point-in-time
Inventories	`InventoryNet`	$89.44M	USD	Point-in-time
Inventories	`InventoryNet`	$71.52M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$7.71M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$9.49M	USD	Point-in-time
Refundable income taxes paid	`IncomeTaxesReceivable`	$1.48M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.88M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$232.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$198.11M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$54.30M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$53.96M	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`	$177.54M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$7.75M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$5.95M	USD	Point-in-time
Total assets	`Assets`	$712.74M	USD	Point-in-time
Total assets	`Assets`	$685.18M	USD	Point-in-time
Total assets	`Assets`	$694.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.28M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$21.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$28.36M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$7.71M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$9.49M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.00M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$38.00M	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`	$80.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.88M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.81M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$7.11M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$9.76M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$39.27M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$46.45M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$274.87M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$273.43M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.36M	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 September 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 September 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`	$151.44M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$115.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$127.03M	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`	$-6.88M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.99M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$256.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$274.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$712.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$685.18M	USD	Point-in-time

Income Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$336.96M	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$372.24M	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$124.83M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$125.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$89.91M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$89.28M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$238.68M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$261.45M	USD	3 Qtrs
Gross profit	`GrossProfit`	$98.28M	USD	3 Qtrs
Gross profit	`GrossProfit`	$36.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$34.92M	USD	1 Quarter
Gross profit	`GrossProfit`	$110.80M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$12.91M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$53.28M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$16.59M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$44.54M	USD	3 Qtrs
Intangibles amortization	`AmortizationOfIntangibleAssets`	$8.53M	USD	3 Qtrs
Intangibles amortization	`AmortizationOfIntangibleAssets`	$3.00M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.87M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$8.61M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$15.46M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$48.91M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$20.14M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$45.21M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.38M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-14.35M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.86M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-12.42M	USD	3 Qtrs
Litigation proceeds	`GainLossRelatedToLitigationSettlement`	$1.27M	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-669.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-203.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-479.00K	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.08M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.07M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$36.01M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.46M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$5.75M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$10.67M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$6.80M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.15M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.80M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$29.21M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.33M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.92M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.59M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.57M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.68M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.70M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.60M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.58M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.73M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.91	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.27	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.26	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.90	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
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`	$0.80	USD	3 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`	$0.72	USD	3 Qtrs
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.80	USD	3 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`	$0.72	USD	3 Qtrs
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$31.79M	USD	3 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$9.40M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$10.71M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$20.59M	USD	3 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.80M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$29.21M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.33M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.81M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.21M	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$911.00K	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$911.00K	USD	3 Qtrs
Loss on disposal of fixed assets	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$185.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.75M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.18M	USD	3 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$446.00K	USD	3 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.42M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$4.46M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$7.18M	USD	3 Qtrs
Earnout liability	`BusinessAcquisitionContingentConsiderationEarnoutExpense`	$-1.19M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.10M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$39.52M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$4.93M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$19.80M	USD	3 Qtrs
Prepaid and refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.09M	USD	3 Qtrs
Prepaid and refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$55.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-872.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.56M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.07M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.36M	USD	3 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$347.00K	USD	3 Qtrs
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.72M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.90M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-669.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.22M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.07M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.30M	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.38M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.60M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.30M	USD	3 Qtrs
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$23.00K	USD	3 Qtrs
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$923.00K	USD	3 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$1.61M	USD	3 Qtrs
Earnout payment	`EarnoutPayment`	$-5.49M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$18.29M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$16.48M	USD	3 Qtrs
Net revolver borrowings	`ProceedsFromLinesOfCredit`	$38.00M	USD	3 Qtrs
Net revolver borrowings	`ProceedsFromLinesOfCredit`	$23.00M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$2.36M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$32.35M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.67M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.86M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.13M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-36.88M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$33.27M	USD	3 Qtrs
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$30.03M	USD	3 Qtrs

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