10-Q Filing

APPLIED INDUSTRIAL TECHNOLOGIES INC CIK: 109563 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000109563-17-000160`
Period End Date	20170930
Filing Date	20171026
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ait-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 32 Cash Flow Statement 56 Comprehensive Income 16

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$105.06M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$77.77M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.81M	USD	Point-in-time
Accounts receivable, less allowances of $9,812 and $9,628	`AccountsReceivableNetCurrent`	$390.93M	USD	Point-in-time
Accounts receivable, less allowances of $9,812 and $9,628	`AccountsReceivableNetCurrent`	$405.57M	USD	Point-in-time
Accounts Receivable, less allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.63M	USD	Point-in-time
Inventories	`InventoryNet`	$345.14M	USD	Point-in-time
Inventories	`InventoryNet`	$364.98M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$170.16M	USD	Point-in-time
Property, less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$166.14M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$28.56M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$41.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$876.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$882.54M	USD	Point-in-time
Property, less accumulated depreciation of $170,163 and $166,143	`PropertyPlantAndEquipmentNet`	$111.31M	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 $170,163 and $166,143	`PropertyPlantAndEquipmentNet`	$108.07M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$163.56M	USD	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$159.85M	USD	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
Goodwill	`Goodwill`	$209.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$206.13M	USD	Point-in-time
Goodwill	`Goodwill`	$202.70M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$8.98M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$9.24M	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
Other assets	`OtherAssetsNoncurrent`	$17.79M	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.30M	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.39B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.38B	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`	38.81M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.04M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$180.61M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	15.40M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	15.17M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$165.23M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$4.81M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$5.59M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$58.78M	USD	Point-in-time
Compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$49.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$59.66M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$280.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$309.75M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$286.77M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$285.18M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$16.71M	USD	Point-in-time
Postemployment benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$15.60M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$29.10M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$30.20M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$611.24M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$642.34M	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; 38,815 and 39,041 outstanding, respectively	`CommonStockValue`	$10.00M	USD	Point-in-time
Common stockno par value; 80,000 shares authorized; 54,213 shares issued; 38,815 and 39,041 outstanding, respectively	`CommonStockValue`	$10.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$165.00M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$1.07B	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$1.03B	USD	Point-in-time
Treasury sharesat cost (15,398 and 15,172 shares, respectively)	`TreasuryStockValue`	$395.25M	USD	Point-in-time
Treasury sharesat cost (15,398 and 15,172 shares, respectively)	`TreasuryStockValue`	$381.45M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-81.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.55M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$773.67M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$745.26M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.39B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.38B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$680.70M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$624.85M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$446.52M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$488.28M	USD	1 Quarter
Gross Profit	`GrossProfit`	$178.33M	USD	1 Quarter
Gross Profit	`GrossProfit`	$192.42M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$140.59M	USD	1 Quarter
Selling, Distribution and Administrative, including depreciation	`SellingGeneralAndAdministrativeExpense`	$134.91M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$43.42M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$51.84M	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-2.17M	USD	1 Quarter
Interest Expense, net	`InterestIncomeExpenseNet`	$-2.15M	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	$197.00K	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	$711.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$50.38M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.47M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$14.10M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$16.66M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$27.37M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$33.72M	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Net Income Per Share - Basic	`EarningsPerShareBasic`	$0.87	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.86	USD	1 Quarter
Net Income Per Share - Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter
Cash dividends per common share	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	38.93M	shares	1 Quarter
Weighted average common shares outstanding for basic computation	`WeightedAverageNumberOfSharesOutstandingBasic`	39.04M	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	338,000.00	shares	1 Quarter
Dilutive effect of potential common shares	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	404,000.00	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.38M	shares	1 Quarter
Weighted average common shares outstanding for diluted computation	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.34M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$27.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.72M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.93M	USD	1 Quarter
Depreciation and amortization of property	`Depreciation`	$3.65M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$5.83M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.24M	USD	1 Quarter
Unrealized foreign exchange transactions (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-248.00K	USD	1 Quarter
Unrealized foreign exchange transactions (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$601.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$577.00K	USD	1 Quarter
Amortization of stock options and appreciation rights	`StockOptionPlanExpense`	$809.00K	USD	1 Quarter
Gain on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$1.07M	USD	1 Quarter
Gain on sale of property	`GainLossOnSaleOfPropertyPlantEquipment`	$198.00K	USD	1 Quarter
Other share-based compensation expense	`ShareBasedCompensation`	$555.00K	USD	1 Quarter
Other share-based compensation expense	`ShareBasedCompensation`	$778.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$35.02M	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-2.83M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-1.23M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-430.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$9.44M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$41.86M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.01M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$6.34M	USD	1 Quarter
Property purchases	`PaymentsToAcquireProductiveAssets`	$3.00M	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$283.00K	USD	1 Quarter
Proceeds from property sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.75M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.07M	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.25M	USD	1 Quarter
Net repayments under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Net repayments under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-22.00M	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	$839.00K	USD	1 Quarter
Long-term debt repayments	`RepaymentsOfOtherLongTermDebt`	$838.00K	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$3.05M	USD	1 Quarter
Purchases of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$13.76M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$11.33M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.94M	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$319.00K	USD	1 Quarter
Acquisition holdback payments	`OtherPaymentsToAcquireBusinesses`	$4.44M	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Exercise of stock options and appreciation rights	`ProceedsFromStockOptionsExercised`	$108.00K	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`	$1.06M	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.15M	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.30M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-299.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.64M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.84M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.29M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$77.77M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$105.06M	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`	$58.02M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$77.77M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$105.06M	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`	$58.02M	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`	$33.72M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$8.16M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-2.35M	USD	1 Quarter
Reclassification of net actuarial (gains) losses and prior service cost into other income, net and included in net periodic pension costs	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$-14.00K	USD	1 Quarter
Reclassification of net actuarial (gains) losses and prior service cost into other income, net and included in net periodic pension costs	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax`	$127.00K	USD	1 Quarter
Unrealized (loss) gain on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-4.00K	USD	1 Quarter
Unrealized (loss) gain on investment securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$26.00K	USD	1 Quarter
Total of other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-2.20M	USD	1 Quarter
Total of other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTax`	$8.14M	USD	1 Quarter
Income tax (benefit) expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$61.00K	USD	1 Quarter
Income tax (benefit) expense related to items of other comprehensive income	`OtherComprehensiveIncomeLossTax`	$-11.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-2.26M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$8.15M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$41.87M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$25.11M	USD	1 Quarter

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