10-Q Filing

DOUGLAS DYNAMICS, INC CIK: 1287213 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-004263`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	plow-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 36 Cash Flow Statement 52 Stockholders Equity 24

Balance Sheet 75 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`	$348.00K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.94M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.70M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.80M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$81.48M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.70M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$55.28M	USD	Point-in-time
Inventories	`InventoryNet`	$111.22M	USD	Point-in-time
Inventories	`InventoryNet`	$82.00M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$7.38M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$4.20M	USD	Point-in-time
Refundable income taxes paid	`IncomeTaxesReceivable`	$2.04M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.72M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$180.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$199.09M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$55.20M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$53.82M	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`	$174.68M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$171.94M	USD	Point-in-time
Operating lease - right of use asset	`OperatingLeaseRightOfUseAsset`	$21.54M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$7.72M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.22M	USD	Point-in-time
Total assets	`Assets`	$640.64M	USD	Point-in-time
Total assets	`Assets`	$676.19M	USD	Point-in-time
Total assets	`Assets`	$676.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.44M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$23.31M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$18.41M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$7.38M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$4.20M	USD	Point-in-time
Operating lease liability - current	`OperatingLeaseLiabilityCurrent`	$3.33M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$106.00K	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$16.00M	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`	$64.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.07M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.24M	USD	Point-in-time
Retiree health benefit obligation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.34M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.25M	USD	Point-in-time
Pension obligation	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$48.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$49.21M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$242.47M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$242.95M	USD	Point-in-time
Operating lease liability - noncurrent	`OperatingLeaseLiabilityNoncurrent`	$18.22M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.86M	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,795,412 and 22,700,991 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$228.00K	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,795,412 and 22,700,991 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$227.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$136.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$130.18M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.75M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.07M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.57M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$251.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$282.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$276.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$256.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$676.02M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$676.19M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$83.96M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$93.19M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$63.94M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$70.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$22.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.03M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$16.15M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$16.64M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.74M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.87M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.56M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.01M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-4.15M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-3.94M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-203.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-171.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.14M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-760.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.26M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-463.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.88M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-297.00K	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.73M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.62M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.73M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.62M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	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`	$0.27	USD	1 Quarter
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`	$0.27	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.05M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.32M	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.88M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-297.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.81M	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$304.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$303.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.05M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.42M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$182.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$107.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$1.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$1.75M	USD	1 Quarter
Earnout liability	`BusinessAcquisitionContingentConsiderationEarnoutExpense`	$-217.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-26.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.19M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$25.27M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$29.23M	USD	1 Quarter
Prepaid and refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.20M	USD	1 Quarter
Prepaid and refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.68M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-208.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.18M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.45M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.95M	USD	1 Quarter
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.91M	USD	1 Quarter
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$234.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.28M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.58M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.31M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$769.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.31M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-769.00K	USD	1 Quarter
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$50.00K	USD	1 Quarter
Shares withheld on restricted stock vesting paid for employees' taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$23.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.29M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.10M	USD	1 Quarter
Net revolver borrowings	`ProceedsFromLinesOfCredit`	$16.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$30.79M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$30.78M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.13M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.91M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.94M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.47M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$348.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$348.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.94M	USD	Point-in-time
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$7.30M	USD	1 Quarter
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$10.30M	USD	1 Quarter

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Adjustment for pension and postretirement benefit liability, tax	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	$-18.00K	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, tax	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	$-32.00K	USD	1 Quarter
Adjustment for interest rate swap, tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent`	$378.00K	USD	1 Quarter
Adjustment for interest rate swap, tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent`	$-257.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$251.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$282.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$276.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$256.68M	USD	Point-in-time
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.88M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-297.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$6.10M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$6.29M	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-53.00K	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-92.00K	USD	1 Quarter
Adjustment for interest rate swap, net of tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.07M	USD	1 Quarter
Adjustment for interest rate swap, net of tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$732.00K	USD	1 Quarter
Shares withheld on restricted stock vesting	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationSharesWithheldRestrictedStockUnitsVesting`	$50.00K	USD	1 Quarter
Shares withheld on restricted stock vesting	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationSharesWithheldRestrictedStockUnitsVesting`	$23.00K	USD	1 Quarter
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.05M	USD	1 Quarter
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.42M	USD	1 Quarter
Balance	`StockholdersEquity`	$251.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$282.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$276.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$256.68M	USD	Point-in-time

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