10-Q Filing

APPLIED INDUSTRIAL TECHNOLOGIES INC CIK: 109563 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000109563-16-000309`
Period End Date	20160930
Filing Date	20161027
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ait-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 32 Cash Flow Statement 58 Comprehensive Income 16

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$58.02M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$59.86M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.63M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.03M	USD	Point-in-time
Accounts receivable, less allowances of $11,628 and $11,034	`AccountsReceivableNetCurrent`	$347.86M	USD	Point-in-time
Accounts receivable, less allowances of $11,628 and $11,034	`AccountsReceivableNetCurrent`	$347.29M	USD	Point-in-time
Inventories	`InventoryNet`	$342.04M	USD	Point-in-time
Inventories	`InventoryNet`	$338.22M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$161.47M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$30.01M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$35.58M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$163.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$781.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$777.36M	USD	Point-in-time
Property, less accumulated depreciation of $163,245 and $161,466	`PropertyPlantAndEquipmentNet`	$107.77M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Property, less accumulated depreciation of $163,245 and $161,466	`PropertyPlantAndEquipmentNet`	$106.28M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$191.24M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$181.47M	USD	Point-in-time
Goodwill	`Goodwill`	$254.41M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$205.54M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$202.70M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$12.28M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$11.80M	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$16.99M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$16.52M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.31B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.30B	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.03M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	15.16M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$149.01M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	15.18M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$148.54M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$3.25M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$3.25M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$57.19M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$46.33M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.72M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$274.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$264.30M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$324.58M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$301.77M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$21.29M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$21.32M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$33.92M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$31.63M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$654.11M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$618.99M	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`	$162.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.53M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$944.82M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$972.17M	USD	Point-in-time
Treasury sharesat cost (15,182 and 15,156 shares, respectively)	`TreasuryStockValue`	$376.44M	USD	Point-in-time
Treasury sharesat cost (15,182 and 15,156 shares, respectively)	`TreasuryStockValue`	$373.89M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-85.55M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-87.80M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$680.45M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$657.92M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.31B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.30B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$624.85M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$641.90M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$460.89M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$446.52M	USD	1 Quarter
Gross Profit	`GrossProfit`	$178.33M	USD	1 Quarter
Gross Profit	`GrossProfit`	$181.01M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$139.99M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$135.11M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$43.22M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$41.03M	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-2.15M	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-2.19M	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$398.00K	USD	1 Quarter
Other (Income) Expense, net	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.47M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.84M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$13.54M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$14.10M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$27.37M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$24.29M	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.61	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.27	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	39.04M	shares	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	39.61M	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	338,000.00	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	229,000.00	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.84M	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.38M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$27.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.29M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.65M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.93M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.08M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.24M	USD	1 Quarter
Unrealized foreign exchange transactions loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-248.00K	USD	1 Quarter
Unrealized foreign exchange transactions loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-434.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$809.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$630.00K	USD	1 Quarter
(Gain) loss on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$1.07M	USD	1 Quarter
(Gain) loss on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$-90.00K	USD	1 Quarter
Other share-based compensation expense	`ShareBasedCompensation`	$628.00K	USD	1 Quarter
Other share-based compensation expense	`ShareBasedCompensation`	$555.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-2.83M	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$23.01M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-2.02M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-1.23M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$41.86M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$15.09M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$11.25M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$3.00M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$3.11M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$113.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.75M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.25M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.25M	USD	1 Quarter
Net (Repayments) Borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-22.00M	USD	1 Quarter
Net (Repayments) Borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$35.00M	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	$838.00K	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	$681.00K	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$3.05M	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$17.96M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.94M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.74M	USD	1 Quarter
Tax shortfall from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Tax shortfall from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-59.00K	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$4.44M	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$7.86M	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	$108.00K	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Taxes paid for shares withheld for equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$987.00K	USD	1 Quarter
Taxes paid for shares withheld for equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$502.00K	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.15M	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.80M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-299.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.54M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.84M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.50M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$58.02M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$59.86M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$69.47M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$63.97M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$58.02M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$59.86M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$69.47M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$63.97M	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`	$27.37M	USD	1 Quarter
Net income per the condensed statements of consolidated income	`NetIncomeLoss`	$24.29M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-27.52M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-2.35M	USD	1 Quarter
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$127.00K	USD	1 Quarter
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$130.00K	USD	1 Quarter
Unrealized gain (loss) on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-50.00K	USD	1 Quarter
Unrealized gain (loss) on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$26.00K	USD	1 Quarter
Total of other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-27.44M	USD	1 Quarter
Total of other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-2.20M	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$34.00K	USD	1 Quarter
Income tax expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$61.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-2.26M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-27.47M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTax`	$25.11M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTax`	$-3.18M	USD	1 Quarter

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