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10-Q
XPO LOGISTICS, INC. filed this Form 10-Q on 11/05/2018
Entire Document
 

Part I—Financial Information
Item 1. Financial Statements.
XPO Logistics, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
 
 
September 30,
 
December 31,
(In millions, except per share data)
 
2018
 
2017
ASSETS
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
 
$
427.9

 
$
396.9

Accounts receivable, net of allowances of $51.9 and $42.4, respectively
 
2,914.9

 
2,725.3

Other current assets
 
487.5

 
465.7

Total current assets
 
3,830.3

 
3,587.9

Property and equipment, net of $1,454.8 and $1,109.5 in accumulated depreciation, respectively
 
2,705.2

 
2,663.7

Goodwill
 
4,494.8

 
4,563.6

Identifiable intangible assets, net of $670.6 and $559.5 in accumulated amortization, respectively
 
1,298.7

 
1,435.3

Other long-term assets
 
347.1

 
351.1

Total long-term assets
 
8,845.8

 
9,013.7

Total assets
 
$
12,676.1

 
$
12,601.6

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
Current liabilities:
 
 
 
 
Accounts payable
 
$
1,231.8

 
$
1,250.7

Accrued expenses
 
1,517.9

 
1,525.8

Current maturities of long-term debt
 
84.0

 
103.7

Other current liabilities
 
161.4

 
116.9

Total current liabilities
 
2,995.1

 
2,997.1

Long-term debt
 
4,005.3

 
4,417.5

Deferred tax liability
 
428.9

 
418.8

Employee benefit obligations
 
157.9

 
162.1

Other long-term liabilities
 
499.1

 
596.1

Total long-term liabilities
 
5,091.2

 
5,594.5

Stockholders’ equity:
 
 
 
 
Convertible perpetual preferred stock, $0.001 par value; 10.0 shares authorized; 0.07 of Series A shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively
 
41.0

 
41.2

Common stock, $0.001 par value; 300.0 shares authorized; 126.9 and 119.9 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively
 
0.1

 
0.1

Additional paid-in capital
 
3,913.5

 
3,590.0

Retained earnings (accumulated deficit)
 
286.1

 
(42.6
)
Accumulated other comprehensive (loss) income
 
(59.2
)
 
15.7

Total stockholders' equity before noncontrolling interests
 
4,181.5

 
3,604.4

Noncontrolling interests
 
408.3

 
405.6

Total equity
 
4,589.8

 
4,010.0

Total liabilities and equity
 
$
12,676.1

 
$
12,601.6

See accompanying notes to condensed consolidated financial statements.


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