10-Q Filing

XPO, INC. CIK: 1166003 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001628280-15-003903`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	xpo-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 34 Cash Flow Statement 76 Stockholders Equity 11

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.80M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.00M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$47.30M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$63.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.50M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$92.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$644.10M	USD	Point-in-time
Identifiable intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$74.60M	USD	Point-in-time
Accounts receivable, net of allowances of $10.0 and $9.8, respectively	`AccountsReceivableNetCurrent`	$543.80M	USD	Point-in-time
Accounts receivable, net of allowances of $10.0 and $9.8, respectively	`AccountsReceivableNetCurrent`	$504.70M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.20M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$16.50M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$1.60M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetCurrent`	$9.20M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$15.40M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.40M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.23B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.57B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	77.42M	shares	Point-in-time
Property and equipment, net of $63.0 and $47.3 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$219.20M	USD	Point-in-time
Property and equipment, net of $63.0 and $47.3 in accumulated depreciation, respectively	`PropertyPlantAndEquipmentNet`	$221.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	79.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	77.42M	shares	Point-in-time
Goodwill	`Goodwill`	$929.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.66M	shares	Point-in-time
Goodwill	`Goodwill`	$967.80M	USD	Point-in-time
Goodwill	`Goodwill`	$539.20M	USD	Point-in-time
Identifiable intangible assets, net of $92.6 and $74.6 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$341.50M	USD	Point-in-time
Identifiable intangible assets, net of $92.6 and $74.6 in accumulated amortization, respectively	`IntangibleAssetsNetExcludingGoodwill`	$343.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$9.10M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$5.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$26.30M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$30.70M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.57B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.53B	USD	Point-in-time
Total assets	`Assets`	$3.13B	USD	Point-in-time
Total assets	`Assets`	$2.76B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$245.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$252.70M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$46.10M	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$50.10M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$69.80M	USD	Point-in-time
Accrued expenses, other	`OtherAccruedLiabilitiesCurrent`	$98.40M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.70M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$381.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$398.40M	USD	Point-in-time
Senior notes due 2019	`SeniorLongTermNotes`	$915.50M	USD	Point-in-time
Senior notes due 2019	`SeniorLongTermNotes`	$500.00M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$63.40M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$91.90M	USD	Point-in-time
Revolving credit facility and other long-term debt, net of current maturities	`LongTermLineOfCredit`	$200.00K	USD	Point-in-time
Revolving credit facility and other long-term debt, net of current maturities	`LongTermLineOfCredit`	$400.00K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$41.50M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$74.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$58.40M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.06B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$725.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 79,659,071 and 77,421,683 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $.001 par value; 150,000,000 shares authorized; 79,659,071 and 77,421,683 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.83B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.87B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-234.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-219.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.66B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.68B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.76B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.13B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$703.00M	USD	1 Quarter
Revenue	`Revenues`	$282.40M	USD	1 Quarter
Cost of purchased transportation and services	`ShippingHandlingAndTransportationCosts`	$440.80M	USD	1 Quarter
Cost of purchased transportation and services	`ShippingHandlingAndTransportationCosts`	$224.00M	USD	1 Quarter
Direct operating expense	`DirectOperatingCosts`	$4.00M	USD	1 Quarter
Direct operating expense	`DirectOperatingCosts`	$151.20M	USD	1 Quarter
Sales, general and administrative expense	`GeneralAndAdministrativeExpense`	$75.80M	USD	1 Quarter
Sales, general and administrative expense	`GeneralAndAdministrativeExpense`	$115.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$303.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$707.80M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-21.40M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.80M	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-100.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-400.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$10.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.10M	USD	1 Quarter
Loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-28.30M	USD	1 Quarter
Loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-31.60M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.30M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-13.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.70M	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$700.00K	USD	1 Quarter
Cumulative preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$800.00K	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.40M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-29.10M	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareBasic`	$-0.70	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareDiluted`	$-0.70	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	41.31M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	78.83M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	78.80M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.30M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-28.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.70M	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.10M	USD	1 Quarter
Provisions for allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$33.80M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.20M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.30M	USD	1 Quarter
Accretion of debt	`AccretionExpense`	$1.40M	USD	1 Quarter
Accretion of debt	`AccretionExpense`	$1.60M	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-4.50M	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-15.80M	USD	1 Quarter
Loss on conversion of debt	`GainLossOnConversionOfDebt`	$-2.30M	USD	1 Quarter
Loss on conversion of debt	`GainLossOnConversionOfDebt`	$-6.50M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$300.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$100.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$56.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-50.60M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxes`	$2.30M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxes`	$15.80M	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.60M	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-100.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$100.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$800.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$48.70M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$10.20M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-17.60M	USD	1 Quarter
Cash flows provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$47.30M	USD	1 Quarter
Cash flows provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.70M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$58.20M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$191.00M	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.40M	USD	1 Quarter
Payment for purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.90M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-200.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Cash flows used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-69.60M	USD	1 Quarter
Cash flows used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-194.70M	USD	1 Quarter
Proceeds from common stock offerings	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from common stock offerings	`ProceedsFromIssuanceOfCommonStock`	$414.00M	USD	1 Quarter
Payment for equity issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payment for equity issuance costs	`PaymentsOfStockIssuanceCosts`	$800.00K	USD	1 Quarter
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfSeniorLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$414.70M	USD	1 Quarter
Payment for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$4.50M	USD	1 Quarter
Payment for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Repayment of borrowings on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Repayment of borrowings on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$75.00M	USD	1 Quarter
Payment for cash held as collateral in lending arrangement	`PaymentForCashHeldAsCollateralInLendingArrangement`	$11.30M	USD	1 Quarter
Payment for cash held as collateral in lending arrangement	`PaymentForCashHeldAsCollateralInLendingArrangement`	-	USD	1 Quarter
Receipt of cash held as collateral in lending arrangement	`ProceedsFromCashHeldAsCollateralInLendingArrangement`	$5.00M	USD	1 Quarter
Receipt of cash held as collateral in lending arrangement	`ProceedsFromCashHeldAsCollateralInLendingArrangement`	-	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$700.00K	USD	1 Quarter
Dividends paid to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$700.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-400.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$412.50M	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$325.80M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$390.20M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$122.40M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.90M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$644.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$143.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$644.10M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$4.30M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$39.90M	USD	1 Quarter
Cash received from income taxes	`IncomeTaxesPaidNet`	$-13.90M	USD	1 Quarter
Cash received from income taxes	`IncomeTaxesPaidNet`	$-1.50M	USD	1 Quarter
Equity portion of acquisition purchase price	`BusinessAcquisitionCostOfAcquiredEntityAmountOfPurchasePrice`	$108.80M	USD	1 Quarter
Equity portion of acquisition purchase price	`BusinessAcquisitionCostOfAcquiredEntityAmountOfPurchasePrice`	$800.00K	USD	1 Quarter
Equity issued upon conversion of debt	`DebtConversionEquityIssuedValue`	$35.60M	USD	1 Quarter
Equity issued upon conversion of debt	`DebtConversionEquityIssuedValue`	$10.50M	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.66B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.68B	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-28.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.70M	USD	1 Quarter
Exercise of warrants and stock options and other	`StockIssuedDuringPeriodValueStockOptionsWarrantsAndOtherExercised`	-	USD	1 Quarter
Issuance of common stock for acquisitions	`StockIssuedDuringPeriodValueAcquisitions`	$800.00K	USD	1 Quarter
Issuance of common stock upon conversion of senior notes, net of tax	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$35.60M	USD	1 Quarter
Dividend paid	`DividendsCash`	$700.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$2.30M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.66B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.68B	USD	Point-in-time

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