What does contract assets mean?

Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.

Sonic Automotive SAH Contract Assets

Discontinued — last reported Q4 '17

Contract Assets at other companies

AutoNationAN

$23.7M+3.0%

Asbury Automotive GroupABG

$66.7M+20.6%

Group 1 AutomotiveGPI

$67M+4.9%

CarGurus, Inc.CARG

$15.11M+10.8%

Segments

By product

See full

Finance, insurance and other, net$5.8M+18.4%

Other financials

Income statement

See full

Revenue$3.7B+1.0%

Gross profit$598.8M+5.7%

Operating income$132.7M-8.5%

Net income$60.8M-13.9%

EPS (diluted)$1.79-12.3%

Balance sheet

See full

Cash & equivalents$5.7M-91.2%

Total debt$2.4B+12.2%

Total equity$981.3M-10.0%

Total assets$6.1B+4.1%

Cash flow

See full

Operating cash flow$35.5M-81.9%

CapEx$37.0M-17.8%

Free cash flow-$1.5M-101%

Valuation

See full

Market cap$2.64B+19.3%

Profitability

See full

Gross margin15.9%+0.6pp

Operating margin2.3%-1.1pp

Net margin0.7%-1.0pp

FCF margin1.7%—

Returns & leverage

See full

Return on equity10.5%-14.0pp

Debt / equity2.5×+0.5×

Current ratio1×-0.1×

Where this comes from

Reported directly by Sonic Automotive in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetNetCurrent.

The official record: Sonic Automotive’s 10-Q, filed October 25, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does contract assets mean?: Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.