10-Q Filing

APPLIED INDUSTRIAL TECHNOLOGIES INC CIK: 109563 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000109563-13-000037`
Period End Date	20130930
Filing Date	20131108
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ait-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 32 Cash Flow Statement 52 Comprehensive Income 16

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$76.88M	USD	Point-in-time
Accounts Receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.74M	USD	Point-in-time
Accounts Receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.58M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$73.16M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$157.51M	USD	Point-in-time
Accounts receivable, less allowances of $7,582 and $7,737	`AccountsReceivableNetCurrent`	$329.88M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$160.59M	USD	Point-in-time
Accounts receivable, less allowances of $7,582 and $7,737	`AccountsReceivableNetCurrent`	$320.28M	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$281.42M	USD	Point-in-time
Inventories	`InventoryNet`	$302.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$34.17M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$52.82M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$733.74M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$737.28M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property, less accumulated depreciation of $160,592 and $157,506	`PropertyPlantAndEquipmentNet`	$81.15M	USD	Point-in-time
Property, less accumulated depreciation of $160,592 and $157,506	`PropertyPlantAndEquipmentNet`	$83.24M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$91.27M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$87.96M	USD	Point-in-time
Goodwill	`Goodwill`	$106.97M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Goodwill	`Goodwill`	$106.85M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$20.57M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	54.21M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	54.21M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$21.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.70M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	12.04M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	12.03M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.04M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.06B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.05B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.00B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$131.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$136.57M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$45.37M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$63.90M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$45.43M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$49.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$245.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$225.57M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$25.34M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$30.92M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$24.55M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$22.27M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$299.09M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$275.47M	USD	Point-in-time
Preferred stockno par value; 2,500 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stockno par value; 2,500 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stockno par value; 80,000 shares authorized; 54,213 shares issued	`CommonStockValue`	$10.00M	USD	Point-in-time
Common stockno par value; 80,000 shares authorized; 54,213 shares issued	`CommonStockValue`	$10.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$154.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$153.89M	USD	Point-in-time
Income retained for use in the business	`RetainedEarningsAccumulatedDeficit`	$824.36M	USD	Point-in-time
Income retained for use in the business	`RetainedEarningsAccumulatedDeficit`	$841.45M	USD	Point-in-time
Treasury sharesat cost (12,031 and 12,044 shares)	`TreasuryStockValue`	$228.53M	USD	Point-in-time
Treasury sharesat cost (12,031 and 12,044 shares)	`TreasuryStockValue`	$225.22M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.42M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.79M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$759.62M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$774.62M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.06B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$605.30M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$610.52M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$435.51M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$445.99M	USD	1 Quarter
Gross Profit	`GrossProfit`	$169.79M	USD	1 Quarter
Gross Profit	`GrossProfit`	$164.53M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$130.26M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$120.22M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$39.54M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$44.32M	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-61.00K	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-25.00K	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$1.09M	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$459.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$44.75M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.57M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$15.22M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$13.72M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$29.53M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.64	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.63	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.23	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.21	USD	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	41.97M	shares	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	42.16M	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	511,000.00	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	480,000.00	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.64M	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.48M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$29.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.02M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.43M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.25M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.06M	USD	1 Quarter
Unrealized foreign exchange transactions gain	`ForeignCurrencyTransactionGainLossUnrealized`	$291.00K	USD	1 Quarter
Unrealized foreign exchange transactions gain	`ForeignCurrencyTransactionGainLossUnrealized`	$286.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$809.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$636.00K	USD	1 Quarter
Loss (gain) on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$-35.00K	USD	1 Quarter
Loss (gain) on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$117.00K	USD	1 Quarter
Other share-based compensation expense	`OtherShareBasedCompensationExpense`	$1.03M	USD	1 Quarter
Other share-based compensation expense	`OtherShareBasedCompensationExpense`	$754.00K	USD	1 Quarter
Changes in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$13.46M	USD	1 Quarter
Changes in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$18.01M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-312.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-353.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$23.95M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.96M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$1.57M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$3.89M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$183.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$243.00K	USD	1 Quarter
Net cash paid for acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$35.41M	USD	1 Quarter
Net cash paid for acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.39M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.06M	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$3.00M	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.75M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.87M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.52M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.17M	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$606.00K	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$760.00K	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	$36.00K	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.42M	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.84M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.76M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-18.00K	USD	1 Quarter
Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.71M	USD	1 Quarter
Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.77M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$76.88M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$73.16M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$56.67M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$78.44M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$76.88M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$73.16M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$56.67M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$78.44M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income per the condensed statements of consolidated income	`NetIncomeLoss`	$29.53M	USD	1 Quarter
Net income per the condensed statements of consolidated income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$550.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$9.00M	USD	1 Quarter
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	`Othercomprehensiveincomereclassificationofdefinedbenefitplansnetgainslossesandpriorservicecostbeforetax`	$218.00K	USD	1 Quarter
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	`Othercomprehensiveincomereclassificationofdefinedbenefitplansnetgainslossesandpriorservicecostbeforetax`	$95.00K	USD	1 Quarter
Unrealized gain (loss) on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$23.00K	USD	1 Quarter
Unrealized gain (loss) on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$34.00K	USD	1 Quarter
Total of other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTax`	$679.00K	USD	1 Quarter
Total of other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTax`	$9.24M	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$94.00K	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$48.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$631.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$9.15M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$38.68M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$27.48M	USD	1 Quarter

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