10-Q Filing

WATSCO INC CIK: 105016 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-301739`
Period End Date	20110930
Filing Date	20111108
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	wso-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 52 Cash Flow Statement 64

Balance Sheet 60 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`	$21.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$404.75M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$305.09M	USD	Point-in-time
Inventories	`InventoryNet`	$391.93M	USD	Point-in-time
Inventories	`InventoryNet`	$540.46M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.49M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$993.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$838.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$31.22M	USD	Point-in-time
Goodwill	`Goodwill`	$318.41M	USD	Point-in-time
Goodwill	`Goodwill`	$303.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$76.01M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$56.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.67M	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Current portion of long-term obligations	`OtherLongTermDebtCurrent`	$72.00K	USD	Point-in-time
Current portion of long-term obligations	`OtherLongTermDebtCurrent`	$30.00K	USD	Point-in-time
Borrowings under revolving credit agreements (Note 6)	`LinesOfCreditCurrent`	$115.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$171.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.19M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$83.75M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$96.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$383.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$266.00M	USD	Point-in-time
Borrowings under revolving credit agreements (Note 6)	`LongTermLineOfCredit`	$10.00M	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$16.00K	USD	Point-in-time
Other long-term obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$7.00K	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$7.00K	USD	Point-in-time
Total long-term obligations	`LongTermDebtNoncurrent`	$10.02M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$37.04M	USD	Point-in-time
Deferred income taxes and other liabilities	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$32.31M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	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`	$489.96M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$472.88M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-392.00K	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-593.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$409.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$387.19M	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`	$804.58M	USD	Point-in-time
Total Watsco, Inc. shareholders' equity	`StockholdersEquity`	$764.46M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$164.44M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$207.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$928.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.01B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.43B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$812.79M	USD	1 Quarter
Revenues	`Revenues`	$2.19B	USD	3 Qtrs
Revenues	`Revenues`	$914.04M	USD	1 Quarter
Revenues	`Revenues`	$2.33B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.67B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$694.63M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$617.25M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.76B	USD	3 Qtrs
Gross profit	`GrossProfit`	$195.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$519.21M	USD	3 Qtrs
Gross profit	`GrossProfit`	$219.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$567.58M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$401.03M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$375.44M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$145.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$131.55M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$63.99M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$143.78M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$74.31M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$166.55M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$869.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.35M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$3.17M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$2.66M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$163.38M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$141.12M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$63.12M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$72.96M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$43.92M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$21.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$48.17M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$19.61M	USD	1 Quarter
Net income	`ProfitLoss`	$115.21M	USD	3 Qtrs
Net income	`ProfitLoss`	$51.82M	USD	1 Quarter
Net income	`ProfitLoss`	$43.52M	USD	1 Quarter
Net income	`ProfitLoss`	$97.20M	USD	3 Qtrs
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$18.27M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$12.08M	USD	1 Quarter
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$26.89M	USD	3 Qtrs
Less: net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$38.14M	USD	3 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$33.55M	USD	1 Quarter
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$77.07M	USD	3 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$70.31M	USD	3 Qtrs
Net income attributable to Watsco, Inc.	`NetIncomeLoss`	$31.44M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.35	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$2.17	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.16	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.34	USD	3 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$115.21M	USD	3 Qtrs
Net income	`ProfitLoss`	$51.82M	USD	1 Quarter
Net income	`ProfitLoss`	$43.52M	USD	1 Quarter
Net income	`ProfitLoss`	$97.20M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.67M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.55M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.80M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$4.66M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.23M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$724.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.93M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.11M	USD	3 Qtrs
Loss (gain) on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$421.00K	USD	3 Qtrs
Loss (gain) on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-409.00K	USD	3 Qtrs
Deferred income tax provision	`IncreaseDecreaseInDeferredIncomeTaxes`	$-3.33M	USD	3 Qtrs
Deferred income tax provision	`IncreaseDecreaseInDeferredIncomeTaxes`	$-3.08M	USD	3 Qtrs
Non-cash contribution for 401(k) plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$1.72M	USD	3 Qtrs
Non-cash contribution for 401(k) plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$489.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$73.03M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$62.54M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$96.62M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$43.40M	USD	3 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$-26.80M	USD	3 Qtrs
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayable`	$100.80M	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$7.01M	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-810.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-58.70M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$96.69M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$3.82M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$44.70M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.18M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.54M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.08M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$422.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-53.45M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.28M	USD	3 Qtrs
Net proceeds under revolving credit agreements	`ProceedsFromLongTermLinesOfCredit`	$9.34M	USD	3 Qtrs
Net proceeds under revolving credit agreements	`ProceedsFromLongTermLinesOfCredit`	$105.00M	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.75M	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.36M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.23M	USD	3 Qtrs
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$724.00K	USD	3 Qtrs
Costs related to amendment of revolving credit agreement	`PaymentsOfDebtRestructuringCosts`	$38.00K	USD	3 Qtrs
Costs related to amendment of revolving credit agreement	`PaymentsOfDebtRestructuringCosts`	-	USD	3 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$51.00K	USD	3 Qtrs
Net repayments of other long-term obligations	`RepaymentsOfOtherLongTermDebt`	$124.00K	USD	3 Qtrs
Distributions to noncontrolling interest	`CashDistributionsToNoncontrollingInterest`	$15.82M	USD	3 Qtrs
Distributions to noncontrolling interest	`CashDistributionsToNoncontrollingInterest`	$13.64M	USD	3 Qtrs
Return of capital contribution to noncontrolling interest	`PaymentsToMinorityShareholders`	$32.00M	USD	3 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$54.49M	USD	3 Qtrs
Dividends on Common and Class B common stock	`PaymentsOfDividendsCommonStock`	$49.19M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.68M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-47.63M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$41.78M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-105.48M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.02M	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`	$99.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$126.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.02M	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`	$99.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$126.50M	USD	Point-in-time
Net assets of locations contributed to joint venture	`BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration`	$14.77M	USD	Point-in-time

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