10-Q Filing

APPLIED INDUSTRIAL TECHNOLOGIES INC CIK: 109563 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0000109563-14-000043`
Period End Date	20140930
Filing Date	20141104
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	ait-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 32 Cash Flow Statement 56 Comprehensive Income 16

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$52.03M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$71.19M	USD	Point-in-time
Accounts receivable, less allowances of $10,513 and $10,385	`AccountsReceivableNetCurrent`	$375.73M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.38M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.51M	USD	Point-in-time
Accounts receivable, less allowances of $10,513 and $10,385	`AccountsReceivableNetCurrent`	$403.52M	USD	Point-in-time
Inventories	`InventoryNet`	$367.29M	USD	Point-in-time
Inventories	`InventoryNet`	$335.75M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$53.48M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$156.87M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$51.91M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$160.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$836.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$874.76M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Property, less accumulated depreciation of $160,063 and $156,872	`PropertyPlantAndEquipmentNet`	$103.60M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Property, less accumulated depreciation of $160,063 and $156,872	`PropertyPlantAndEquipmentNet`	$106.68M	USD	Point-in-time
Identifiable Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$208.50M	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
Identifiable Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$159.51M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$259.16M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$193.49M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$260.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$21.17M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$20.26M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.47B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.33B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	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
Treasury shares	`TreasuryStockShares`	12.82M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	12.65M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$172.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$145.61M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$2.84M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$2.72M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$55.76M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$47.69M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$60.07M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$75.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$271.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$290.95M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$167.99M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$321.42M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$23.61M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$19.07M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$51.30M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$65.74M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$678.21M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$533.86M	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`	$158.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$157.00M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$896.78M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$915.48M	USD	Point-in-time
Treasury sharesat cost (12,825 and 12,650 shares)	`TreasuryStockValue`	$272.07M	USD	Point-in-time
Treasury sharesat cost (12,825 and 12,650 shares)	`TreasuryStockValue`	$261.85M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.61M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.70M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$800.31M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$790.71M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.33B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.47B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$702.33M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$605.30M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$507.39M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$435.51M	USD	1 Quarter
Gross Profit	`GrossProfit`	$169.79M	USD	1 Quarter
Gross Profit	`GrossProfit`	$194.93M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$148.77M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$130.26M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$39.54M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$46.16M	USD	1 Quarter
Interest (Income) Expense, net	`InterestIncomeExpenseNet`	$-61.00K	USD	1 Quarter
Interest (Income) Expense, net	`InterestIncomeExpenseNet`	$-1.66M	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$-244.00K	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$1.09M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.57M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$44.26M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$13.72M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$15.14M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$29.12M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.64	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.70	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`	$0.25	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.23	USD	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	41.47M	shares	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	42.16M	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	362,000.00	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`	41.83M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$29.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.43M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$4.21M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.49M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.25M	USD	1 Quarter
Unrealized foreign exchange transactions (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$572.00K	USD	1 Quarter
Unrealized foreign exchange transactions (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$291.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$636.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$577.00K	USD	1 Quarter
(Gain) loss on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$-35.00K	USD	1 Quarter
(Gain) loss on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$5.00K	USD	1 Quarter
Other share-based compensation expense	`OtherShareBasedCompensationExpense`	$592.00K	USD	1 Quarter
Other share-based compensation expense	`OtherShareBasedCompensationExpense`	$754.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$58.89M	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$18.01M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-312.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-374.00K	USD	1 Quarter
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.10M	USD	1 Quarter
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.96M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$1.57M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$3.10M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$183.00K	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$129.81M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-132.91M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.39M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$34.00M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Long-term debt borrowings	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$120.24M	USD	1 Quarter
Long-term debt borrowings	`ProceedsFromRepaymentsOfOtherLongTermDebt`	-	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	-	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	$690.00K	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$10.40M	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$3.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.75M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.40M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.52M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$556.00K	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$606.00K	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	-	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$133.30M	USD	1 Quarter
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.84M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-18.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.45M	USD	1 Quarter
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.16M	USD	1 Quarter
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.71M	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`	$52.03M	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`	$71.19M	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`	$52.03M	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`	$71.19M	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`	$29.12M	USD	1 Quarter
Net income per the condensed statements of consolidated income	`NetIncomeLoss`	$26.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-19.11M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$550.00K	USD	1 Quarter
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	`Othercomprehensiveincomereclassificationofdefinedbenefitplansnetgainslossesandpriorservicecostbeforetax`	$72.00K	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`	$-41.00K	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`	$-19.07M	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$48.00K	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$14.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-19.09M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$631.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$27.48M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$10.03M	USD	1 Quarter

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