10-Q Filing

WATSCO INC CIK: 105016 Q3 2010

Filing Information

Form Type	10-Q
Accession Number	`0001193125-10-250021`
Period End Date	20100930
Filing Date	20101105
Fiscal Year	2010
Fiscal Period	Q3
XBRL Instance	wso-20100930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 52 Cash Flow Statement 58

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`	$65.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$266.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$337.95M	USD	Point-in-time
Inventories	`InventoryNet`	$410.08M	USD	Point-in-time
Inventories	`InventoryNet`	$456.77M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.11M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$20.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$916.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$755.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$31.00M	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`	$303.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$57.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$58.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.43M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.37M	USD	Point-in-time
Assets, Total	`Assets`	$1.32B	USD	Point-in-time
Assets, Total	`Assets`	$1.16B	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$129.00K	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$151.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$235.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$145.82M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$93.11M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$77.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$328.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$223.93M	USD	Point-in-time
Borrowings under revolving credit agreements	`LongTermLineOfCredit`	$12.76M	USD	Point-in-time
Borrowings under revolving credit agreements	`LongTermLineOfCredit`	$22.10M	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$666.00K	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$564.00K	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$13.43M	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$22.66M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxLiabilitiesAndOtherLiabilities`	$28.66M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxLiabilitiesAndOtherLiabilities`	$28.45M	USD	Point-in-time
Preferred stock, $0.50 par value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.50 par value	`PreferredStockValue`	-	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$468.87M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$461.56M	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`	$-688.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$393.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$372.45M	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`	$766.72M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$170.02M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$156.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$936.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$894.81M	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$1.32B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$741.89M	USD	1 Quarter
Revenues	`Revenues`	$2.19B	USD	3 Qtrs
Revenues	`Revenues`	$1.44B	USD	3 Qtrs
Revenues	`Revenues`	$812.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.09B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.67B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$569.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$617.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$172.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$347.23M	USD	3 Qtrs
Gross profit	`GrossProfit`	$519.21M	USD	3 Qtrs
Gross profit	`GrossProfit`	$195.54M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$130.56M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$375.44M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$281.04M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$131.55M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$66.18M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$143.78M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$41.45M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$63.99M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$1.03M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$1.70M	USD	3 Qtrs
Interest expense, net	`InterestExpenseNet`	$2.66M	USD	3 Qtrs
Interest expense, net	`InterestExpenseNet`	$869.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$141.12M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$64.48M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$63.12M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$13.28M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$19.61M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$43.92M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$22.23M	USD	3 Qtrs
Net income	`ProfitLoss`	$97.20M	USD	3 Qtrs
Net income	`ProfitLoss`	$27.14M	USD	1 Quarter
Net income	`ProfitLoss`	$42.25M	USD	3 Qtrs
Net income	`ProfitLoss`	$43.52M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$26.89M	USD	3 Qtrs
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$6.01M	USD	3 Qtrs
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$12.08M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$6.01M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$36.24M	USD	3 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$31.44M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$21.13M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$70.31M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.21	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.17	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.16	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.21	USD	3 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$97.20M	USD	3 Qtrs
Net income	`ProfitLoss`	$27.14M	USD	1 Quarter
Net income	`ProfitLoss`	$42.25M	USD	3 Qtrs
Net income	`ProfitLoss`	$43.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.67M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.92M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.80M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.79M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.23M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$9.04M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.93M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.56M	USD	3 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$46.00K	USD	3 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$421.00K	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$2.65M	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$3.57M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$73.03M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.77M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$43.40M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$44.29M	USD	3 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$100.80M	USD	3 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$22.33M	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-810.00K	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.58M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$96.69M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.48M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.19M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.54M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$3.82M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$4.06M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$188.00K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.08M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.06M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.28M	USD	3 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$49.19M	USD	3 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$41.71M	USD	3 Qtrs
Distributions to noncontrolling interest	`CashDistributionToNoncontrollingInterest`	$13.64M	USD	3 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$124.00K	USD	3 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$184.00K	USD	3 Qtrs
Payment of fees related to revolving credit agreements	`PaymentsOfDebtRestructuringCosts`	$6.70M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.23M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$9.04M	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$9.99M	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.75M	USD	3 Qtrs
Net proceeds under revolving credit agreements	`ProceedsFromRepaymentsOfLinesOfCredit`	$23.00M	USD	3 Qtrs
Net proceeds under revolving credit agreements	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.34M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-47.63M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.55M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.87M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$41.78M	USD	3 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`	$65.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$99.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	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`	$65.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$99.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time

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