10-Q Filing

HEARTLAND EXPRESS INC CIK: 799233 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000799233-17-000025`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	htld-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 96 Income Statement 48 Cash Flow Statement 56 Stockholders Equity 10

Balance Sheet 96 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$128.51M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.23M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$159.17M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$46.84M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$46.22M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid tires	`OtherPrepaidExpenseCurrent`	$8.18M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	395.00M	shares	Point-in-time
Prepaid tires	`OtherPrepaidExpenseCurrent`	$10.38M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	395.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.84M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	90.69M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	90.69M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$21.87M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	83.29M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	83.29M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$237.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$202.11M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	7.40M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	7.40M	shares	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$39.36M	USD	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$39.19M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$48.37M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$48.37M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.70M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.70M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$2.10M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$2.15M	USD	Point-in-time
Shop and service equipment	`MachineryAndEquipmentGross`	$11.01M	USD	Point-in-time
Shop and service equipment	`MachineryAndEquipmentGross`	$11.09M	USD	Point-in-time
Revenue equipment	`RevenueEquipment`	$556.46M	USD	Point-in-time
Revenue equipment	`RevenueEquipment`	$537.95M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$74.00K	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$54.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$659.05M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$640.53M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$252.04M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$251.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$407.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$388.49M	USD	Point-in-time
GOODWILL	`Goodwill`	$100.21M	USD	Point-in-time
GOODWILL	`Goodwill`	$100.21M	USD	Point-in-time
OTHER INTANGIBLES, NET	`IntangibleAssetsNetExcludingGoodwill`	$11.61M	USD	Point-in-time
OTHER INTANGIBLES, NET	`IntangibleAssetsNetExcludingGoodwill`	$12.09M	USD	Point-in-time
Deferred Income Taxes, Net	`DeferredIncomeTaxAssetsNet`	$1.57M	USD	Point-in-time
Deferred Income Taxes, Net	`DeferredIncomeTaxAssetsNet`	$3.79M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$12.38M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$12.19M	USD	Point-in-time
Assets	`Assets`	$738.23M	USD	Point-in-time
Assets	`Assets`	$751.71M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$12.36M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$16.23M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$22.24M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$23.32M	USD	Point-in-time
Insurance accruals	`SelfInsuranceReserveCurrent`	$18.41M	USD	Point-in-time
Insurance accruals	`SelfInsuranceReserveCurrent`	$19.13M	USD	Point-in-time
Income Taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income Taxes payable	`AccruedIncomeTaxesCurrent`	$3.28M	USD	Point-in-time
Other accruals	`OtherAccruedLiabilitiesCurrent`	$13.29M	USD	Point-in-time
Other accruals	`OtherAccruedLiabilitiesCurrent`	$10.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$73.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$65.53M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$11.95M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$9.51M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$94.66M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$92.49M	USD	Point-in-time
Insurance accruals less current portion	`SelfInsuranceReserveNoncurrent`	$58.01M	USD	Point-in-time
Insurance accruals less current portion	`SelfInsuranceReserveNoncurrent`	$60.26M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$160.01M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$166.87M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.01; authorized 5,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01; authorized 5,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2017 and 2016; outstanding 83,292 in 2017 and 83,287 in 2016, respectively	`CommonStockValue`	$907.00K	USD	Point-in-time
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2017 and 2016; outstanding 83,292 in 2017 and 83,287 in 2016, respectively	`CommonStockValue`	$907.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$625.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$638.04M	USD	Point-in-time
Treasury stock, at cost; 7,397 shares in 2017 and 7,402 in 2016, respectively	`TreasuryStockValue`	$124.18M	USD	Point-in-time
Treasury stock, at cost; 7,397 shares in 2017 and 7,402 in 2016, respectively	`TreasuryStockValue`	$124.10M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$505.83M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$518.25M	USD	Point-in-time
Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$751.71M	USD	Point-in-time
Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$738.23M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Operating Revenue	`Revenues`	$129.90M	USD	1 Quarter
Operating Revenue	`Revenues`	$162.79M	USD	1 Quarter
Salaries, wages, and benefits	`LaborAndRelatedExpense`	$48.98M	USD	1 Quarter
Salaries, wages, and benefits	`LaborAndRelatedExpense`	$65.47M	USD	1 Quarter
Rent and purchased transportation	`RentAndPurchasedTransportation`	$6.70M	USD	1 Quarter
Rent and purchased transportation	`RentAndPurchasedTransportation`	$2.86M	USD	1 Quarter
Fuel	`FuelCosts`	$22.70M	USD	1 Quarter
Fuel	`FuelCosts`	$21.19M	USD	1 Quarter
Operations and maintenance	`CostOfServicesMaintenanceCosts`	$6.64M	USD	1 Quarter
Operations and maintenance	`CostOfServicesMaintenanceCosts`	$5.87M	USD	1 Quarter
Operating taxes and licenses	`CostOfServicesDirectTaxesAndLicensesCosts`	$3.89M	USD	1 Quarter
Operating taxes and licenses	`CostOfServicesDirectTaxesAndLicensesCosts`	$3.29M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$8.09M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$3.78M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$1.20M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$1.10M	USD	1 Quarter
Depreciation and amortization	`Depreciationandamortizationexcludingdepreciationoncommunicationequipment`	$22.93M	USD	1 Quarter
Depreciation and amortization	`Depreciationandamortizationexcludingdepreciationoncommunicationequipment`	$25.70M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$5.10M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$4.93M	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$6.08M	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$1.29M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$142.54M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$110.54M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$20.25M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$75.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$288.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.32M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.65M	USD	1 Quarter
Federal and state income taxes	`IncomeTaxExpenseBenefit`	$5.95M	USD	1 Quarter
Federal and state income taxes	`IncomeTaxExpenseBenefit`	$5.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.38M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.04M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.38M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	83.29M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	83.37M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.46M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.34M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.70M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-53.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$6.78M	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$113.00K	USD	1 Quarter
Amortization of stock-based compensation, net of tax	`AllocatedShareBasedCompensationExpenseNetOfTax`	$587.00K	USD	1 Quarter
Amortization of stock-based compensation, net of tax	`AllocatedShareBasedCompensationExpenseNetOfTax`	-	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$6.08M	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$1.29M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$-2.51M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$-623.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.35M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.67M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.81M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.60M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.57M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.53M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$55.91M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.78M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$21.54M	USD	1 Quarter
Purchases of property and equipment, net of trades	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.62M	USD	1 Quarter
Purchases of property and equipment, net of trades	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.87M	USD	1 Quarter
Change in designated funds for equipment purchases	`PaymentsForProceedsFromDelayedTaxExemptExchange`	$3.88M	USD	1 Quarter
Change in designated funds for equipment purchases	`PaymentsForProceedsFromDelayedTaxExemptExchange`	$3.82M	USD	1 Quarter
Change in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$-192.00K	USD	1 Quarter
Change in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$94.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$294.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.05M	USD	1 Quarter
Payments of cash dividends	`PaymentsOfDividendsCommonStock`	$1.67M	USD	1 Quarter
Payments of cash dividends	`PaymentsOfDividendsCommonStock`	$1.67M	USD	1 Quarter
Shares withheld for employee taxes related to stock-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$63.00K	USD	1 Quarter
Shares withheld for employee taxes related to stock-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$14.68M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.34M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.73M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$30.66M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$36.52M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$128.51M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$33.23M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.75M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$159.17M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$128.51M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$33.23M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$69.75M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$159.17M	USD	Point-in-time
Cash (received) paid during the period for income taxes, net of refunds	`IncomeTaxesPaidNet`	$-12.00K	USD	1 Quarter
Cash (received) paid during the period for income taxes, net of refunds	`IncomeTaxesPaidNet`	$221.00K	USD	1 Quarter
Purchased property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Purchased property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$3.41M	USD	1 Quarter
Sold revenue equipment in other current assets	`IncreaseDecreaseInRestrictedCashAndInvestments`	$2.60M	USD	1 Quarter
Sold revenue equipment in other current assets	`IncreaseDecreaseInRestrictedCashAndInvestments`	$892.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Balance	`StockholdersEquity`	$505.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.25M	USD	Point-in-time
Net income	`NetIncomeLoss`	$14.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.38M	USD	1 Quarter
Dividends on common stock, $0.02 per share	`DividendsCommonStock`	$1.67M	USD	1 Quarter
Stock-based compensation, net of tax	`StockIssuedDuringPeriodValueShareBasedCompensation`	$50.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$505.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.25M	USD	Point-in-time

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