COVENANT TRANSPORTATION GROUP INC CVTI Balance Sheet

Covenant transportation group inc (CVTI)

Balance Sheet / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
Current assets:
Cash and cash equivalents
43,591	39,795	28,823	31,001	23,127	19,612	122,146	38,371	15,356	8,277	18,691	7,252	7,750	5,027	8,433	3,690	4,490	14,022	23,770	16,290	21,330	17,234	19,351	19,918	9,263	10,526	9,054	8,549	6,846	7,664	4,386	3,814	3,895	3,377	2,281	9,361
Accounts receivable, net of allowance of $1,944 in 2019 and $1,985 in 2018
167,825	167,440	158,367	155,956	151,093	134,957	103,053	94,793	104,153	92,037	81,759	73,500	96,636	72,365	73,304	75,124	112,669	74,286	78,368	77,507	95,943	78,837	82,159	81,058	81,242	76,311	77,861	78,016	76,220	75,708	74,184	66,180	64,676	62,794	65,512	60,816
Drivers' advances and other receivables, net of allowance of $692 in 2019 and $626 in 2018
8,507	11,415	12,166	16,861	16,675	15,340	12,804	11,774	15,062	14,947	10,200	11,371	8,757	11,239	7,893	7,341	8,779	5,885	5,753	5,743	5,770	6,063	6,316	5,682	5,356	5,126	5,278	4,504	3,851	4,164	3,456	6,040	5,711	5,726	5,538	4,591
Inventory and supplies
4,210	4,178	4,142	4,125	4,067	4,337	4,313	4,273	4,232	4,049	3,961	4,034	3,980	4,112	4,210	4,189	4,004	4,152	4,316	4,318	4,402	4,504	4,708	4,754	4,718	4,608	4,670	4,514	4,550	4,483	4,350	4,640	4,611	4,562	4,624	4,481
Prepaid expenses
11,707	12,882	15,022	9,014	11,579	12,045	13,268	6,701	8,699	9,044	10,873	8,135	10,889	10,192	12,308	6,974	8,678	9,852	14,654	7,269	9,028	9,790	11,374	9,030	10,418	10,320	11,140	6,368	8,244	9,077	11,226	7,947	8,002	5,552	6,837	8,833
Assets held for sale
12,010	6,930	4,372	7,003	2,559	1,325	3,225	2,249	1,444	2,214	2,708	2,597	2,695	8,111	1,700	1,325	25,626	5,949	2,491	1,276	4,268	2,459	7,532	-	7,073	-	-	-	-	-	-	-	-	-	-	-
Assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,868	-	5,350	4,018	5,984	3,898	6,347	13,693	12,286	16,891	6,589	3,876	802
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,243	4,445	14,330	-	4,564	4,631	5,435	5,234	5,708	5,015	6,228	4,642	5,046	2,968	3,850	4,383	5,213	3,856	677
Income taxes receivable
5,403	2,400	1,788	1,109	1,109	1,585	5,099	11,897	11,551	17,634	4,845	7,381	4,256	3,798	554	0	8,591	0	2,253	5,591	1,309	1,156	1,021	25	146	168	85	-	59	28	11	-	232	0	0	1,577
Other short-term assets
1,132	1,028	934	976	1,435	2,333	2,165	1,729	1,817	1,008	1,009	1,018	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
254,385	246,068	225,614	226,045	211,644	191,534	266,073	171,787	162,314	149,210	134,046	115,288	134,963	114,844	108,402	98,643	172,837	118,389	136,050	132,324	142,050	124,607	137,092	128,770	123,450	118,117	117,121	114,163	108,310	112,517	114,274	104,757	108,401	93,813	92,524	91,138
Property and equipment, at cost
725,383	748,291	723,263	699,724	638,770	635,909	614,381	640,838	650,988	662,423	633,858	641,284	631,076	626,930	609,877	603,894	596,071	598,358	511,005	510,992	505,345	452,535	441,271	452,839	462,376	434,536	417,965	411,347	419,947	405,162	406,063	427,745	440,051	448,112	431,761	450,467
Less: accumulated depreciation and amortization
208,180	207,606	212,060	199,717	188,175	187,144	177,803	182,768	186,916	186,401	177,935	173,058	165,605	154,676	150,442	153,394	142,022	141,507	136,600	130,497	122,854	120,871	121,147	132,295	132,768	139,485	139,197	140,403	140,930	133,159	126,560	123,326	117,748	119,050	118,120	126,513
Net property and equipment
517,203	540,685	511,203	500,007	450,595	448,765	436,578	458,070	464,072	476,022	455,923	468,226	465,471	472,254	459,435	450,500	454,049	456,851	374,405	380,495	382,491	331,664	320,124	320,544	329,608	295,051	278,768	270,944	279,017	272,003	279,503	304,419	322,303	329,062	313,641	323,954
Goodwill
42,518	42,518	42,518	40,730	41,598	41,086	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	11,539	11,539
Other intangibles, net
29,615	30,346	31,077	31,807	32,538	33,269	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets, net
37,919	41,990	41,117	37,485	37,149	32,828	27,175	25,476	23,282	25,057	25,951	25,915	20,104	19,884	19,842	20,388	19,831	20,097	17,051	15,959	14,763	13,892	14,670	12,645	13,364	11,697	20,582	12,541	12,905	11,425	10,102	24,290	9,121	6,955	7,309	14,548
Total assets
881,640	901,607	851,529	836,074	773,524	747,482	729,826	655,333	649,668	650,289	615,920	609,429	620,538	606,982	587,679	569,531	646,717	595,337	527,506	528,778	539,304	470,163	471,886	461,959	466,422	424,865	416,471	397,648	400,232	395,945	403,879	433,466	439,825	429,830	425,013	441,179
Current liabilities:
Checks outstanding in excess of bank balances
592	1,193	1,610	1,633	1,857	605	-	-	-	1,514	3,517	1,611	189	1,299	0	3,776	4,698	-	-	-	0	-	2,496	3,653	2,918	5,216	7,782	7,419	8,261	8,193	8,041	6,992	5,963	7,203	7,326	4,795
Accounts payable
25,745	26,762	24,754	26,824	22,101	21,488	12,295	12,520	11,857	12,374	10,828	9,042	13,032	10,081	10,860	8,818	12,272	9,263	11,974	10,257	9,623	9,604	12,431	10,622	8,322	11,919	10,887	9,606	10,035	11,720	9,953	9,758	8,752	6,404	7,342	6,902
Accrued expenses
31,840	30,344	29,513	33,729	49,503	47,797	29,420	22,768	26,520	27,863	23,296	21,893	26,607	21,335	23,742	23,651	30,143	28,364	32,942	31,743	36,542	31,018	28,769	27,279	28,185	26,752	26,828	27,265	27,884	28,072	26,499	24,632	23,272	27,416	23,421	26,481
Current maturities of long-term debt
54,377	47,810	37,794	31,792	28,710	27,643	32,450	25,550	24,596	28,775	24,642	22,678	24,947	29,555	29,015	27,056	39,395	32,473	23,522	23,482	27,824	36,277	37,202	42,957	44,070	41,796	44,395	56,798	63,636	66,339	76,363	80,440	96,258	69,950	70,481	68,400
Current portion of finance lease obligations
7,258	7,164	6,797	6,898	5,374	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portion of operating lease obligations
19,460	17,875	14,117	14,622	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portion of capital lease obligations
-	-	-	-	-	5,074	4,863	2,971	2,962	2,941	2,526	2,508	2,441	1,736	3,802	3,917	4,031	4,144	1,737	1,723	1,606	5,402	9,251	9,608	8,732	5,950	2,164	2,127	2,091	2,055	2,025	1,991	1,957	1,878	1,451	1,399
Current portion of insurance and claims accrual
21,800	21,692	18,084	17,745	19,787	24,785	14,594	15,104	15,042	14,681	14,832	16,561	17,177	15,785	15,029	17,500	17,134	15,997	17,014	18,296	17,565	16,025	17,402	17,098	17,151	17,236	17,195	17,276	16,383	15,805	16,208	15,895	14,303	14,383	13,503	13,927
Other short-term liabilities
185	-	-	-	-	0	0	0	243	1,718	4,628	4,450	3,388	7,892	10,419	15,995	18,549	14,418	11,010	10,527	7,999	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
161,257	152,840	132,669	133,243	127,332	127,392	93,622	78,913	81,220	89,866	84,269	78,743	87,781	87,683	92,867	100,713	126,222	104,659	98,199	96,028	101,159	98,326	107,551	111,217	109,378	108,869	109,251	120,491	128,290	132,184	139,089	139,708	150,505	127,234	123,524	121,904
Long-term debt
200,177	229,716	208,848	198,052	166,635	169,037	196,038	164,415	164,465	165,592	160,783	159,941	168,676	178,188	163,520	146,864	196,057	188,964	124,669	131,079	159,531	169,296	173,849	167,976	169,491	139,227	122,810	102,731	95,214	89,144	95,311	117,445	128,167	144,076	131,973	141,942
Long-term portion of finance lease obligations
26,010	29,097	30,820	32,223	35,119	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term portion of operating lease obligations
40,882	36,916	24,921	25,541	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term portion of capital lease obligations
-	-	-	-	-	33,877	35,160	20,967	21,777	22,525	19,418	20,056	19,761	13,693	9,899	10,224	10,547	10,866	13,702	14,142	13,372	12,234	11,199	11,578	13,186	10,165	12,902	13,458	14,003	14,539	15,099	15,618	16,129	16,665	12,638	13,418
Insurance and claims accrual
20,295	19,996	18,811	18,869	22,193	16,291	19,492	22,424	21,836	24,199	26,433	26,153	20,866	19,373	20,325	21,396	22,300	21,142	23,241	23,679	23,173	20,939	13,584	13,360	13,601	13,503	23,892	15,590	16,768	15,782	16,350	27,269	13,734	9,552	10,098	19,713
Deferred income taxes
80,330	-	-	-	77,467	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	81,439	80,920	78,407	-	73,347	70,552	65,539	63,344	101,440	84,619	86,023	84,157	75,690	72,876	71,027	76,981	62,533	65,821	73,587	59,004	61,303	61,389	58,334	59,077	55,519	51,674	51,248	49,837	48,790	43,987	43,242	42,670	42,892	44,742	41,821
Other long-term liabilities
2,578	3,169	2,855	2,002	1,636	1,388	1,411	1,387	1,825	2,275	3,231	3,165	2,883	6,955	8,405	12,207	12,450	13,118	5,867	9,505	13,861	5,568	1,270	1,586	1,329	1,579	2,760	1,417	1,447	1,476	4,807	1,536	1,565	1,594	1,624	1,683
Total liabilities
531,529	553,173	499,844	488,337	430,382	421,332	416,275	353,645	354,467	405,897	378,753	374,081	384,124	381,582	367,892	362,431	444,557	401,282	331,499	348,020	370,100	367,666	368,842	364,051	366,062	328,862	323,289	304,935	305,559	301,915	314,643	344,818	352,770	342,013	324,599	340,481
Commitments and contingent liabilities
-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	-	-	-	0	-	0	0	0	0	0	0	0
Stockholders' equity:
Additional paid-in-capital
141,885	141,840	141,337	142,770	142,177	140,404	139,362	138,050	137,242	137,467	137,228	136,786	137,912	138,823	138,513	138,280	139,968	143,445	143,109	-	141,248	89,112	88,397	88,451	88,620	88,983	88,856	89,369	90,328	90,045	89,660	89,686	89,535	89,138	-	90,842
Treasury stock at cost; no shares as of December 31, 2017 and 23,656 shares as of December 31, 2016
-	-	-	-	-	-	-	-	-	0	0	6	1,084	1,698	1,698	1,959	3,408	4,994	-	-	0	11,725	11,871	12,214	12,319	12,774	12,786	13,121	13,955	13,965	14,037	14,445	14,445	14,210	-	16,799
Accumulated other comprehensive income
-1,014	-1,483	-918	-228	204	1,487	1,544	964	293	-1,442	-3,797	-3,619	-2,640	-7,969	-10,403	-16,162	-17,544	-14,310	-9,389	-	-13,101	-2,379	886	-181	833	-92	-801	443	320	1,423	-1,913	2,132	50	-1,271	-	476
Retained earnings
209,043	207,881	211,070	204,999	200,566	184,064	172,450	162,479	157,471	108,173	103,542	101,993	102,032	96,050	93,181	86,747	82,950	69,720	62,093	-	40,865	27,320	25,463	21,683	23,057	19,718	17,745	15,854	17,813	16,360	15,359	11,108	11,748	13,993	-	26,015
Total stockholders' equity
350,111	348,434	351,685	347,737	343,142	326,150	313,551	301,688	295,201	244,392	237,167	235,348	236,414	225,400	219,787	207,100	202,160	194,055	196,007	180,758	169,204	102,497	103,044	97,908	100,360	-	-	-	94,673	94,030	89,236	88,648	87,055	87,817	100,414	100,698
Total stockholders' equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96,003	93,182	92,713	-	-	-	-	-	-	-	-
Total liabilities and stockholders' equity
881,640	901,607	851,529	836,074	773,524	747,482	729,826	655,333	649,668	650,289	615,920	609,429	620,538	606,982	587,679	569,531	646,717	595,337	527,506	528,778	539,304	470,163	471,886	461,959	466,422	424,865	416,471	397,648	400,232	395,945	403,879	433,466	439,825	429,830	425,013	441,179
Common Class A [Member]
Common stock
173	172	172	172	171	-	-	-	171	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Class B [Member]
Common stock
24	24	24	24	24	-	-	-	24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-