10-Q Filing

WATSCO INC CIK: 105016 Q2 2010

Filing Information

Form Type	10-Q
Accession Number	`0001193125-10-181279`
Period End Date	20100630
Filing Date	20100806
Fiscal Year	2010
Fiscal Period	Q2
XBRL Instance	wso-20100630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 50 Cash Flow Statement 57

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.30M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$385.53M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$266.28M	USD	Point-in-time
Inventories	`InventoryNet`	$410.08M	USD	Point-in-time
Inventories	`InventoryNet`	$522.54M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.78M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$20.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$755.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.02B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$31.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.12M	USD	Point-in-time
Goodwill	`Goodwill`	$303.26M	USD	Point-in-time
Goodwill	`Goodwill`	$304.15M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$58.57M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$57.55M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.88M	USD	Point-in-time
Assets, Total	`Assets`	$1.42B	USD	Point-in-time
Assets, Total	`Assets`	$1.16B	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$151.00K	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$153.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$145.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$344.84M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$103.43M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$77.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$448.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$223.93M	USD	Point-in-time
Borrowings under revolving credit agreements	`LongTermLineOfCredit`	$20.00M	USD	Point-in-time
Borrowings under revolving credit agreements	`LongTermLineOfCredit`	$12.76M	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$574.00K	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$666.00K	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$20.57M	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$13.43M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxLiabilitiesAndOtherLiabilities`	$28.45M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxLiabilitiesAndOtherLiabilities`	$28.74M	USD	Point-in-time
Preferred stock, $.50 par value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.50 par value	`PreferredStockValue`	-	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$461.56M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$468.16M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-821.00K	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-757.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$372.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$378.99M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$114.42M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$114.42M	USD	Point-in-time
Total Watsco, Inc. shareholders' equity	`StockholdersEquity`	$738.03M	USD	Point-in-time
Total Watsco, Inc. shareholders' equity	`StockholdersEquity`	$751.36M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$168.47M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$156.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$894.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$919.83M	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$1.42B	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.37B	USD	2 Qtrs
Revenues	`Revenues`	$404.97M	USD	1 Quarter
Revenues	`Revenues`	$696.31M	USD	2 Qtrs
Revenues	`Revenues`	$864.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.05B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$663.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$521.10M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$303.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$323.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$175.22M	USD	2 Qtrs
Gross profit	`GrossProfit`	$201.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$100.98M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$130.15M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$74.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$243.89M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$150.49M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$24.73M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$79.78M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$70.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.29M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$344.00K	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$894.00K	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$1.79M	USD	2 Qtrs
Interest expense, net	`InterestExpenseNet`	$672.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.06M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$77.99M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$70.03M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.95M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$24.31M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$9.67M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$8.95M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$21.82M	USD	1 Quarter
Net income	`ProfitLoss`	$15.11M	USD	2 Qtrs
Net income	`ProfitLoss`	$48.21M	USD	1 Quarter
Net income	`ProfitLoss`	$53.68M	USD	2 Qtrs
Net income	`ProfitLoss`	$16.28M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$13.16M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$14.80M	USD	2 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$16.28M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$15.11M	USD	2 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$35.05M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$38.88M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.53	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.20	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.52	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.20	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$15.11M	USD	2 Qtrs
Net income	`ProfitLoss`	$48.21M	USD	1 Quarter
Net income	`ProfitLoss`	$53.68M	USD	2 Qtrs
Net income	`ProfitLoss`	$16.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.15M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.41M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.91M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.66M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.82M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.25M	USD	2 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$418.00K	USD	2 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$52.00K	USD	2 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$3.71M	USD	2 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.09M	USD	2 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.38M	USD	2 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.71M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$28.36M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$120.49M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$15.21M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$109.17M	USD	2 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$221.54M	USD	2 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$48.17M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-899.00K	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.20M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.56M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$56.83M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.84M	USD	2 Qtrs
Business acquisitions, net of cash acquired	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$2.41M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.07M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$148.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.17M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	2 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$32.34M	USD	2 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$26.45M	USD	2 Qtrs
Distributions to noncontrolling interest	`CashDistributionToNoncontrollingInterest`	$3.12M	USD	2 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$124.00K	USD	2 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$90.00K	USD	2 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.09M	USD	2 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.71M	USD	2 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.22M	USD	2 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.85M	USD	2 Qtrs
Net proceeds under revolving credit agreements	`ProceedsFromRepaymentsOfLinesOfCredit`	$7.24M	USD	2 Qtrs
Costs related to amendment of revolving credit agreement	`PaymentsOfDebtRestructuringCosts`	-	USD	2 Qtrs
Costs related to amendment of revolving credit agreement	`PaymentsOfDebtRestructuringCosts`	$5.25M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-22.27M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-22.99M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.86M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$29.66M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.76M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.76M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.30M	USD	Point-in-time

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