10-Q Filing

MYR GROUP INC. CIK: 700923 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-027958`
Period End Date	20150331
Filing Date	20150506
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	myrg-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 56

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.18M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.03M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$155.91M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$147.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.45M	USD	Point-in-time
Finite-Lived Intangible Assets, Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.64M	USD	Point-in-time
Finite-Lived Intangible Assets, Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.23M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowances of $1,028 and $1,179, respectively	`AccountsReceivableNetCurrent`	$158.10M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowances of $1,028 and $1,179, respectively	`AccountsReceivableNetCurrent`	$156.92M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$64.69M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$44.61M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$11.90M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$11.94M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivable for insurance claims in excess of deductibles	`InsuranceSettlementsReceivable`	$12.26M	USD	Point-in-time
Receivable for insurance claims in excess of deductibles	`InsuranceSettlementsReceivable`	$12.31M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	-	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$2.06M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.88M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.78M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	20.79M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	20.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$314.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$313.50M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	20.90M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $155,911 and $147,956, respectively	`PropertyPlantAndEquipmentNet`	$148.65M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $155,911 and $147,956, respectively	`PropertyPlantAndEquipmentNet`	$155.99M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	20.79M	shares	Point-in-time
Goodwill	`Goodwill`	$46.60M	USD	Point-in-time
Goodwill	`Goodwill`	$46.60M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,310 and $3,227, respectively	`IntangibleAssetsNetExcludingGoodwill`	$9.78M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,310 and $3,227, respectively	`IntangibleAssetsNetExcludingGoodwill`	$9.87M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.43M	USD	Point-in-time
Total assets	`Assets`	$528.22M	USD	Point-in-time
Total assets	`Assets`	$520.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$67.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$62.25M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$33.04M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$38.12M	USD	Point-in-time
Accrued self insurance	`SelfInsuranceReserveCurrent`	$38.53M	USD	Point-in-time
Accrued self insurance	`SelfInsuranceReserveCurrent`	$39.48M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$571.00K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$33.55M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$31.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$173.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$171.59M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$24.73M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$24.73M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.22M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$197.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$198.97M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock?$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at March 31, 2015 and December 31, 2014	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock?$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at March 31, 2015 and December 31, 2014	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock?$0.01 par value per share; 100,000,000 authorized shares; 20,898,110 and 20,791,623 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$206.00K	USD	Point-in-time
Common stock?$0.01 par value per share; 100,000,000 authorized shares; 20,898,110 and 20,791,623 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$207.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$150.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$171.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$178.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$322.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$329.25M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$520.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$528.22M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Contract revenues	`SalesRevenueServicesNet`	$244.15M	USD	1 Quarter
Contract revenues	`SalesRevenueServicesNet`	$215.64M	USD	1 Quarter
Contract costs	`CostOfServices`	$214.77M	USD	1 Quarter
Contract costs	`CostOfServices`	$188.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$29.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$27.08M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$16.88M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.59M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$84.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$83.00K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$11.00K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$898.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.13M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.60M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$178.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$179.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$54.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-58.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.37M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.01M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.74M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.17M	USD	1 Quarter
? Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
? Basic (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
? Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter
? Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
? Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.56M	shares	1 Quarter
? Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.04M	shares	1 Quarter
? Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.05M	shares	1 Quarter
? Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.51M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.17M	USD	1 Quarter
Depreciation and amortization of property and equipment	`Depreciation`	$7.95M	USD	1 Quarter
Depreciation and amortization of property and equipment	`Depreciation`	$8.88M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$84.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$83.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.05M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$833.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-30.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$11.00K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$898.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashExpense`	$62.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashExpense`	$35.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.39M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-124.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$7.12M	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$20.08M	USD	1 Quarter
Receivable for insurance claims in excess of deductibles	`IncreaseDecreaseInInsuranceSettlementsReceivable`	$-50.00K	USD	1 Quarter
Receivable for insurance claims in excess of deductibles	`IncreaseDecreaseInInsuranceSettlementsReceivable`	$695.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.16M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.08M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.19M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.20M	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-5.08M	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-4.20M	USD	1 Quarter
Accrued self insurance	`IncreaseDecreaseInSelfInsuranceReserve`	$-951.00K	USD	1 Quarter
Accrued self insurance	`IncreaseDecreaseInSelfInsuranceReserve`	$623.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$255.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.38M	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.37M	USD	1 Quarter
Net cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.97M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$42.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$938.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.44M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.36M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.42M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.40M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$378.00K	USD	1 Quarter
Excess tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.01M	USD	1 Quarter
Excess tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$111.00K	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$3.14M	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$824.00K	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-713.00K	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.75M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.81M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.08M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.38M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.83M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.45M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$77.64M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$54.38M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$61.83M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$76.45M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$77.64M	USD	Point-in-time

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