2014 Q4 Form 10-K Financial Statement

#000114420415012408 Filed on February 27, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $527.5M $458.4M $440.0M
YoY Change 15.08% 10.22% 8.39%
Cost Of Revenue $378.5M
YoY Change
Gross Profit $62.72M $52.59M $61.50M
YoY Change 19.27% -3.22% 22.81%
Gross Profit Margin 11.89% 11.47% 13.98%
Selling, General & Admin $22.19M
YoY Change
% of Gross Profit 36.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $22.19M
YoY Change
Operating Profit $33.83M
YoY Change
Interest Expense $6.252M
YoY Change
% of Operating Profit 18.48%
Other Income/Expense, Net -$605.0K
YoY Change
Pretax Income $26.97M
YoY Change
Income Tax $10.74M
% Of Pretax Income 39.81%
Net Earnings $19.09M $10.42M $16.24M
YoY Change 83.13% -87.0% -11.96%
Net Earnings / Revenue 3.62% 2.27% 3.69%
Basic Earnings Per Share $0.28 $0.15 $0.24
Diluted Earnings Per Share $0.27 $0.15 $0.23
COMMON SHARES
Basic Shares Outstanding 68.98M shares 68.49K shares
Diluted Shares Outstanding 69.01K shares

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $146.1M $113.3M $65.88M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $177.1M $184.2M
Prepaid Expenses $10.20M $9.600M
Receivables $135.2M $120.4M
Other Receivables
Total Short-Term Assets $485.7M $449.0M
YoY Change 8.16% 7.39%
LONG-TERM ASSETS
Property, Plant & Equipment $142.9M $142.1M
YoY Change 0.57% 7.52%
Goodwill $149.6M $150.0M
YoY Change -0.24% 2.41%
Intangibles $137.1M $159.2M
YoY Change -13.87% -7.45%
Long-Term Investments
YoY Change
Other Assets $13.40M $10.61M
YoY Change 26.23% -11.98%
Total Long-Term Assets $441.8M $463.2M
YoY Change -4.63% -4.39%
TOTAL ASSETS
Total Short-Term Assets $485.7M $449.0M
Total Long-Term Assets $441.8M $463.2M
Total Assets $927.4M $912.2M
YoY Change 1.67% 1.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.21M $112.2M
YoY Change -14.21% 28.47%
Accrued Expenses $88.69M $99.36M
YoY Change -10.74% -5.26%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $496.0K $3.245M
YoY Change -84.71% -4.02%
Total Short-Term Liabilities $186.9M $216.4M
YoY Change -13.64% 10.0%
LONG-TERM LIABILITIES
Long-Term Debt $324.8M $358.9M
YoY Change -9.51% -13.9%
Other Long-Term Liabilities $18.04M $6.528M
YoY Change 176.35% -57.91%
Total Long-Term Liabilities $342.8M $365.4M
YoY Change -6.18% -15.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.9M $216.4M
Total Long-Term Liabilities $342.8M $365.4M
Total Liabilities $332.5K $370.6K
YoY Change -10.27% -99.91%
SHAREHOLDERS EQUITY
Retained Earnings -$216.2M -$277.1M
YoY Change -21.99% -14.38%
Common Stock $709.0K $705.0K
YoY Change 0.57% 0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.65M $27.15M
YoY Change 5.51% 0.13%
Treasury Stock Shares 1.987M shares 1.874M shares
Shareholders Equity $390.8M $322.4M $310.0M
YoY Change
Total Liabilities & Shareholders Equity $928.7M $912.2M $945.8M
YoY Change 1.8% 1.07%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $19.09M $10.42M $16.24M
YoY Change 83.13% -87.0% -11.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2014 us-gaap Product Warranty Accrual Warranties Issued
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CY2014 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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CY2012 us-gaap Concentration Risk Percentage1
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CY2013 us-gaap Concentration Risk Percentage1
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CY2014 us-gaap Concentration Risk Percentage1
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CY2012 us-gaap Comprehensive Income Net Of Tax
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CY2014 us-gaap Depreciation
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CY2012 us-gaap Repayments Of Long Term Lines Of Credit
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CY2013 us-gaap Repayments Of Long Term Lines Of Credit
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CY2014 dei Document Type
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10-K
CY2014 dei Amendment Flag
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false
CY2014 dei Document Period End Date
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2014-12-31
CY2014 dei Document Fiscal Year Focus
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2014
CY2014 dei Document Fiscal Period Focus
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FY
CY2014 dei Entity Registrant Name
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WABASH NATIONAL CORP /DE
CY2014 dei Entity Central Index Key
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0000879526
CY2014 dei Current Fiscal Year End Date
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CY2014 dei Entity Well Known Seasoned Issuer
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Yes
CY2014 dei Entity Voluntary Filers
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CY2014 dei Entity Filer Category
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Accelerated Filer
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CY2014 dei Trading Symbol
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WNC
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CY2014 us-gaap Concentration Risk Credit Risk
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CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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159181000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
137100000 USD
CY2012 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
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12328000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
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353000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
602000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
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1921000 USD
CY2012Q4 us-gaap Stockholders Equity
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268727000 USD
CY2012Q4 us-gaap Goodwill
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146444000 USD
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1784000 USD
CY2014 us-gaap Goodwill Acquired During Period
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-500000 USD
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2054000 USD
CY2013 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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-315000 USD
CY2014 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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136000 USD
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ProceedsFromIssuanceOfSeniorNotes
145500000 USD
CY2013 wnc Proceeds From Issuance Of Senior Notes
ProceedsFromIssuanceOfSeniorNotes
0 USD
CY2014 wnc Proceeds From Issuance Of Senior Notes
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0 USD
CY2012Q4 us-gaap Self Insurance Reserve
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7711000 USD
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38467000 USD
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35555000 USD
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-36759000 USD
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-37431000 USD
CY2012 us-gaap Interest Paid Net
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16050000 USD
CY2013 us-gaap Interest Paid Net
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20913000 USD
CY2014 us-gaap Interest Paid Net
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16136000 USD
CY2012 us-gaap Income Taxes Paid Net
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594000 USD
CY2013 us-gaap Income Taxes Paid Net
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941000 USD
CY2014 us-gaap Income Taxes Paid Net
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20220000 USD
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-203000 USD
CY2013 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-140000 USD
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-13000 USD
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607000 USD
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
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305000 USD
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
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87000 USD
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324229000 USD
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2500000 USD
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0 USD
CY2014 us-gaap Proceeds From Issuance Of Debt
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0 USD
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16900000 USD
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58853000 USD
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61613000 USD
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50074000 USD
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61628000 USD
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54339000 USD
CY2013Q4 us-gaap Gross Profit
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52587000 USD
CY2014Q4 us-gaap Gross Profit
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62721000 USD
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5064000 USD
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80184000 USD
CY2013Q4 us-gaap Net Income Loss
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10423000 USD
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19088000 USD
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0 USD
CY2013 wnc Proceeds From Issuance Of Common Stock Net Ofexpenses
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0 USD
CY2014 wnc Proceeds From Issuance Of Common Stock Net Ofexpenses
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0 USD
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0.26
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0.15
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0.28
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292500000 USD
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
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0.08
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0.10
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0.20
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EarningsPerShareDiluted
0.27
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0.07
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0.03
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0.27
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1.16
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9600000 USD
CY2014Q4 us-gaap Prepaid Expense Current
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10200000 USD
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12700000 USD
CY2013 wnc General And Administrative Expenses Cost Of Goods Sold Depreciation
GeneralAndAdministrativeExpensesCostOfGoodsSoldDepreciation
15700000 USD
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16500000 USD
CY2013Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
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10900000 USD
CY2014Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
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10200000 USD
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21300000 USD
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1700000 USD
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600000 USD
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13600000 USD
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200000 USD
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2400000 USD
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100000 USD
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500000 USD
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59000000 USD
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25565000 USD
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38336000 USD
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38829000 USD
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International sales, primarily to Canadian customers, accounted for less than 10% in each of the last three years.
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4300000 USD
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2400000 USD
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3700000 USD
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100000000 USD
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20100000 USD
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19036000 USD
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15500000 USD
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14600000 USD
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1700000 USD
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2200000 USD
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1700000 USD
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71300000 USD
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200000 USD
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2200000 USD
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2300000 USD
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700000 USD
CY2014 us-gaap Capitalized Computer Software Amortization
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500000 USD
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48533000 USD
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77465000 USD
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98246000 USD
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130000 USD
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158000 USD
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216000 USD
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0 USD
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197000 USD
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174000 USD
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717000 USD
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1805000 USD
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141000 USD
CY2013 us-gaap Current Foreign Tax Expense Benefit
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130000 USD
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118000 USD
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315000 USD
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1044000 USD
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20959000 USD
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-46378000 USD
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26753000 USD
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12913000 USD
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-10871000 USD
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3412000 USD
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3778000 USD
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-34000 USD
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-115000 USD
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-118000 USD
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17032000 USD
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27168000 USD
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34462000 USD
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2619000 USD
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3870000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
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4808000 USD
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-14000 USD
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-41000 USD
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-206000 USD
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0 USD
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0 USD
CY2014 us-gaap Income Tax Reconciliation Deductions
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2010000 USD
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59887000 USD
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0 USD
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0 USD
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-132000 USD
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2810000 USD
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97000 USD
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610000 USD
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7452000 USD
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2550000 USD
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6964000 USD
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6882000 USD
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16621000 USD
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17171000 USD
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4736000 USD
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5551000 USD
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35773000 USD
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32154000 USD
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-295000 USD
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-2858000 USD
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-4993000 USD
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-5565000 USD
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-690000 USD
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-6585000 USD
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-23181000 USD
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-15951000 USD
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-1438000 USD
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-1307000 USD
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10971000 USD
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10648000 USD
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9000 USD
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323000 USD
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59900000 USD
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1400000 USD
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4000000 USD
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400000 USD
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300000 USD
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3100000 USD
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4400000 USD
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5300000 USD
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1312000 USD
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1948000 USD
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0.0199 pure
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0.0202 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0273 pure
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0.788 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.753 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.720 pure
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0.00 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.00 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.00 pure
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P5Y
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y
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162800000 USD
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1597920000 USD
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98019000 USD
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123030000 USD
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1.79
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1.78
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377000000 USD
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11.70
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1728000 USD
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1416000 USD
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1071000 USD
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926000 USD
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834000 USD
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2172000 USD
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8147000 USD
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893000 USD
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7254000 USD
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2422000 USD
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834000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
523000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
115000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
7154000 USD
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3600000 USD
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4600000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5800000 USD
CY2014Q4 us-gaap Capital Leases Future Minimum Payments Net Minimum Payments1
CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1
100000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
496000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
517000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
539000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
150093000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
192845000 USD
CY2014 wnc Business Acquisition Stockholders Rights Plan Exercise Description
BusinessAcquisitionStockholdersRightsPlanExerciseDescription
The rights will be exercisable only if a person or a group acquires or announces a tender or exchange offer to acquire 20% or more of our common stock or if we enter into other business combination transactions not approved by our board of directors.
CY2014 wnc Business Acquisition Stockholders Rights Plan Expire Date
BusinessAcquisitionStockholdersRightsPlanExpireDate
2015-12-28
CY2014 wnc Business Acquisition Stockholders Rights Plan Redeemable Per Stock
BusinessAcquisitionStockholdersRightsPlanRedeemablePerStock
0
CY2014Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
60000000 USD
CY2012 wnc Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities Basic
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecuritiesBasic
104727000 USD
CY2013 wnc Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities Basic
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecuritiesBasic
46072000 USD
CY2014 wnc Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities Basic
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecuritiesBasic
60449000 USD

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