10-Q Filing

DOUGLAS DYNAMICS, INC CIK: 1287213 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-006802`
Period End Date	20220331
Filing Date	20220503
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	plow-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 36 Cash Flow Statement 55 Stockholders Equity 23

Balance Sheet 78 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`	22.98M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.21M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.96M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.03M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.52M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	22.98M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.98M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$43.06M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	22.98M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$71.03M	USD	Point-in-time
Inventories	`InventoryNet`	$143.84M	USD	Point-in-time
Inventories	`InventoryNet`	$104.02M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$1.47M	USD	Point-in-time
Inventories - truck chassis floor plan	`TruckFloorPlanInventoriesNet`	$2.65M	USD	Point-in-time
Refundable income taxes paid	`IncomeTaxesReceivable`	$1.47M	USD	Point-in-time
Refundable income taxes paid	`IncomeTaxesReceivable`	$1.22M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.54M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$202.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$220.43M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$66.79M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$65.64M	USD	Point-in-time
Goodwill	`Goodwill`	$113.13M	USD	Point-in-time
Goodwill	`Goodwill`	$113.13M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$142.11M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$139.48M	USD	Point-in-time
Operating lease - right of use asset	`OperatingLeaseRightOfUseAsset`	$18.46M	USD	Point-in-time
Operating lease - right of use asset	`OperatingLeaseRightOfUseAsset`	$17.26M	USD	Point-in-time
Non-qualified benefit plan assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$10.14M	USD	Point-in-time
Non-qualified benefit plan assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$10.35M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.21M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.93M	USD	Point-in-time
Total assets	`Assets`	$572.48M	USD	Point-in-time
Total assets	`Assets`	$550.46M	USD	Point-in-time
Total assets	`Assets`	$556.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.22M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$36.13M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$27.24M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$1.47M	USD	Point-in-time
Floor plan obligations	`FloorPlanObligations`	$2.65M	USD	Point-in-time
Operating lease liability - current	`OperatingLeaseLiabilityCurrent`	$4.48M	USD	Point-in-time
Operating lease liability - current	`OperatingLeaseLiabilityCurrent`	$4.62M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$12.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.14M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$73.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$81.92M	USD	Point-in-time
Retiree benefits and deferred compensation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$17.17M	USD	Point-in-time
Retiree benefits and deferred compensation	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$17.25M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$30.77M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$29.79M	USD	Point-in-time
Long-term debt, less current portion	`TermLoanNetOfDebtDiscount`	$206.06M	USD	Point-in-time
Long-term debt, less current portion	`TermLoanNetOfDebtDiscount`	$203.37M	USD	Point-in-time
Operating lease liability - noncurrent	`OperatingLeaseLiabilityNoncurrent`	$15.41M	USD	Point-in-time
Operating lease liability - noncurrent	`OperatingLeaseLiabilityNoncurrent`	$14.33M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.53M	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,976,150 and 22,980,951 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$230.00K	USD	Point-in-time
Common Stock, par value $0.01, 200,000,000 shares authorized, 22,976,150 and 22,980,951 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$230.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$51.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$41.23M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.50M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.19M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.05M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$207.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$214.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$200.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$196.63M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$550.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$572.48M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$102.60M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$103.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$81.54M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$77.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$26.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.06M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$19.90M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$21.37M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.71M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$2.63M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$3.65M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-2.94M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-2.11M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-2.98M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$127.00K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.92M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$665.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.02M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-77.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$742.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.91M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.98M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.88M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.98M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.90M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.29	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.29	USD	1 Quarter
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter
Cash dividends paid per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.25M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$330.00K	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$742.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.19M	USD	1 Quarter
Gain on sales of fixed asset	`GainLossOnSaleOfPropertyPlantEquipment`	$51.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$392.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$121.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.90M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.97M	USD	1 Quarter
Adjustments on derivatives not classified as hedges	`MarketAdjustmentOnDerivativesNotClassifiedAsHedges`	$-1.45M	USD	1 Quarter
Adjustments on derivatives not classified as hedges	`MarketAdjustmentOnDerivativesNotClassifiedAsHedges`	$-172.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$75.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$179.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$324.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$978.00K	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpenses`	$1.20M	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpenses`	$1.04M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-27.90M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-37.87M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$39.82M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$20.21M	USD	1 Quarter
Prepaid assets, refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.06M	USD	1 Quarter
Prepaid assets, refundable income taxes and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$254.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.31M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.35M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.09M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-8.88M	USD	1 Quarter
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-148.00K	USD	1 Quarter
Benefit obligations and other long-term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-701.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.99M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.15M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.18M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.18M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.75M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.79M	USD	1 Quarter
Net revolver borrowings	`ProceedsFromLinesOfCredit`	$12.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$20.69M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$2.81M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.48M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-561.00K	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-5.51M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-28.75M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.21M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.21M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.52M	USD	Point-in-time
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$713.00K	USD	1 Quarter
Truck chassis inventory acquired through floorplan obligations	`InventoryAcquiredThroughFloorplanObligations`	$16.23M	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Adjustment for pension and postretirement benefit liability, tax	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	$20.00K	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, tax	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	$14.00K	USD	1 Quarter
Adjustment for interest rate swap, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent`	$-194.00K	USD	1 Quarter
Adjustment for interest rate swap, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent`	$-1.50M	USD	1 Quarter
Balance	`StockholdersEquity`	$207.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$214.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$200.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$196.63M	USD	Point-in-time
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$742.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.91M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$6.79M	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$6.75M	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$41.00K	USD	1 Quarter
Adjustment for pension and postretirement benefit liability, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$58.00K	USD	1 Quarter
Adjustment for interest rate swap, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$564.00K	USD	1 Quarter
Adjustment for interest rate swap, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$4.28M	USD	1 Quarter
Repurchase of common stock	`SharesIssuedValueRepurchaseOfCommonStock`	$3.00M	USD	1 Quarter
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.90M	USD	1 Quarter
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.97M	USD	1 Quarter
Balance	`StockholdersEquity`	$207.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$214.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$200.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$196.63M	USD	Point-in-time

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