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10-Q Filing

WATSCO INC CIK: 105016 Q3 2012
Filing Information
Form Type 10-Q
Accession Number 0001193125-12-460015
Period End Date 20120930
Filing Date 20121108
Fiscal Year 2012
Fiscal Period Q3
XBRL Instance wso-20120930.xml
Filing Contents
Balance Sheet 59 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 $45.96M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $126.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $21.02M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.67M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $455.67M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $327.66M USD Point-in-time
Inventories InventoryNet $465.35M USD Point-in-time
Inventories InventoryNet $618.08M USD Point-in-time
Other current assets OtherAssetsCurrent $21.26M USD Point-in-time
Other current assets OtherAssetsCurrent $19.49M USD Point-in-time
Total current assets AssetsCurrent $1.14B USD Point-in-time
Total current assets AssetsCurrent $828.18M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $42.72M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $39.45M USD Point-in-time
Goodwill Goodwill $319.44M USD Point-in-time
Goodwill Goodwill $385.83M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $75.37M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $223.16M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.71M USD Point-in-time
Other assets OtherAssetsNoncurrent $7.15M USD Point-in-time
Total assets Assets $1.80B USD Point-in-time
Total assets Assets $1.27B USD Point-in-time
Accounts payable AccountsPayableCurrent $219.56M USD Point-in-time
Accounts payable AccountsPayableCurrent $127.36M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $75.66M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $108.63M USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $7.00K USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $19.00K USD Point-in-time
Borrowings under revolving credit agreement LinesOfCreditCurrent $20.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $328.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $223.04M USD Point-in-time
Borrowings under revolving credit agreement LongTermLineOfCredit $202.18M USD Point-in-time
Other long-term obligations, net of current portion OtherLongTermDebtNoncurrent $14.00K USD Point-in-time
Total long-term obligations LongTermDebtNoncurrent $202.19M USD Point-in-time
Deferred income taxes and other liabilities DeferredTaxAndOtherLiabilitiesNoncurrent $48.10M USD Point-in-time
Deferred income taxes and other liabilities DeferredTaxAndOtherLiabilitiesNoncurrent $43.40M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - 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 $493.52M USD Point-in-time
Paid-in capital AdditionalPaidInCapital $589.35M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-434.00K USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-352.00K USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-392.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $430.56M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $404.36M 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 $802.79M USD Point-in-time
Total Watsco, Inc. shareholders' equity StockholdersEquity $925.47M USD Point-in-time
Noncontrolling interest MinorityInterest $295.85M USD Point-in-time
Noncontrolling interest MinorityInterest $198.92M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.00B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.22B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $1.80B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $1.27B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Revenues Revenues $1.02B USD 1 Quarter
Revenues Revenues $914.04M USD 1 Quarter
Revenues Revenues $2.67B USD 3 Qtrs
Revenues Revenues $2.33B USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $778.35M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.76B USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $2.03B USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $694.63M USD 1 Quarter
Gross profit GrossProfit $631.60M USD 3 Qtrs
Gross profit GrossProfit $567.58M USD 3 Qtrs
Gross profit GrossProfit $242.50M USD 1 Quarter
Gross profit GrossProfit $219.41M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $401.03M USD 3 Qtrs
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $440.12M USD 3 Qtrs
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $156.81M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $145.10M USD 1 Quarter
Operating income OperatingIncomeLoss $74.31M USD 1 Quarter
Operating income OperatingIncomeLoss $85.70M USD 1 Quarter
Operating income OperatingIncomeLoss $191.48M USD 3 Qtrs
Operating income OperatingIncomeLoss $166.55M USD 3 Qtrs
Interest expense, net InterestExpense $1.35M USD 1 Quarter
Interest expense, net InterestExpense $3.42M USD 3 Qtrs
Interest expense, net InterestExpense $1.19M USD 1 Quarter
Interest expense, net InterestExpense $3.17M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $84.51M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $188.05M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $163.38M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $72.96M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $24.98M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $48.17M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $54.13M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $21.14M USD 1 Quarter
Net income ProfitLoss $51.82M USD 1 Quarter
Net income ProfitLoss $59.53M USD 1 Quarter
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $115.21M USD 3 Qtrs
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $38.14M USD 3 Qtrs
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $45.35M USD 3 Qtrs
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $18.53M USD 1 Quarter
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $18.27M USD 1 Quarter
Net income attributable to Watsco, Inc. NetIncomeLoss $33.55M USD 1 Quarter
Net income attributable to Watsco, Inc. NetIncomeLoss $41.01M USD 1 Quarter
Net income attributable to Watsco, Inc. NetIncomeLoss $88.58M USD 3 Qtrs
Net income attributable to Watsco, Inc. NetIncomeLoss $77.07M USD 3 Qtrs
Basic EarningsPerShareBasic $2.35 USD 3 Qtrs
Basic EarningsPerShareBasic $1.19 USD 1 Quarter
Basic EarningsPerShareBasic $2.62 USD 3 Qtrs
Basic EarningsPerShareBasic $1.02 USD 1 Quarter
Diluted EarningsPerShareDiluted $2.61 USD 3 Qtrs
Diluted EarningsPerShareDiluted $1.02 USD 1 Quarter
Diluted EarningsPerShareDiluted $2.34 USD 3 Qtrs
Diluted EarningsPerShareDiluted $1.19 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $51.82M USD 1 Quarter
Net income ProfitLoss $59.53M USD 1 Quarter
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $115.21M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $11.28M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $8.55M USD 3 Qtrs
Share-based compensation ShareBasedCompensation $4.66M USD 3 Qtrs
Share-based compensation ShareBasedCompensation $5.61M USD 3 Qtrs
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $4.74M USD 3 Qtrs
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $3.33M USD 3 Qtrs
Non-cash contribution for 401(k) plan NonCashContributionTo401KPlan $1.77M USD 3 Qtrs
Non-cash contribution for 401(k) plan NonCashContributionTo401KPlan $1.72M USD 3 Qtrs
Provision for doubtful accounts ProvisionForDoubtfulAccounts $396.00K USD 3 Qtrs
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.11M USD 3 Qtrs
Loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-409.00K USD 3 Qtrs
Loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-179.00K USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $913.00K USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $724.00K USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $62.54M USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $81.79M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $96.62M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $98.00M USD 3 Qtrs
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayable $87.70M USD 3 Qtrs
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayable $-26.80M USD 3 Qtrs
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $7.01M USD 3 Qtrs
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $446.00K USD 3 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-58.70M USD 3 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $64.44M USD 3 Qtrs
Business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $132.36M USD 3 Qtrs
Business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $44.70M USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $9.18M USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $9.23M USD 3 Qtrs
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $404.00K 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 $-141.18M USD 3 Qtrs
Net proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock $3.36M USD 3 Qtrs
Net proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock $3.98M USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $724.00K USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $913.00K USD 3 Qtrs
Net proceeds (repayments) of other long-term obligations ProceedsFromRepaymentsOfOtherLongTermDebt $2.00K USD 3 Qtrs
Net proceeds (repayments) of other long-term obligations ProceedsFromRepaymentsOfOtherLongTermDebt $-51.00K USD 3 Qtrs
Return of capital contribution to noncontrolling interest PaymentsToMinorityShareholders $32.00M USD 3 Qtrs
Payment of fees related to revolving credit agreement PaymentOfFeesRelatedToRevolvingCreditAgreement $38.00K USD 3 Qtrs
Payment of fees related to revolving credit agreement PaymentOfFeesRelatedToRevolvingCreditAgreement $2.07M USD 3 Qtrs
Distributions to noncontrolling interest PaymentsOfDistributionsToAffiliates $15.82M USD 3 Qtrs
Distributions to noncontrolling interest PaymentsOfDistributionsToAffiliates $16.00M USD 3 Qtrs
Dividends on Common and Class B common stock PaymentsOfDividendsCommonStock $62.38M USD 3 Qtrs
Dividends on Common and Class B common stock PaymentsOfDividendsCommonStock $54.49M USD 3 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $6.68M USD 3 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $106.71M USD 3 Qtrs
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $319.00K USD 3 Qtrs
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $30.29M USD 3 Qtrs
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-105.48M USD 3 Qtrs
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $45.96M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $126.50M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $21.02M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $15.67M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $45.96M USD Point-in-time
Cash and cash equivalents at end 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 $15.67M USD Point-in-time
Common stock issued for Carrier Enterprise III StockIssued1 $93.25M USD 3 Qtrs
Net assets of locations contributed to Carrier Enterprise II BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration $14.77M USD Point-in-time
Comprehensive Income 28 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $51.82M USD 1 Quarter
Net income ProfitLoss $59.53M USD 1 Quarter
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $115.21M USD 3 Qtrs
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.73M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-109.00K USD 3 Qtrs
Unrealized gain (loss) on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $27.00K USD 3 Qtrs
Unrealized gain (loss) on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $15.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-20.00K USD 3 Qtrs
Unrealized gain (loss) on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-23.00K USD 1 Quarter
Unrealized gain on derivative instrument arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $221.00K USD 3 Qtrs
Unrealized gain on derivative instrument arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $77.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $201.00K USD 3 Qtrs
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-82.00K USD 3 Qtrs
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $54.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $4.75M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $133.84M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $115.41M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $64.28M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $51.87M USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $38.14M USD 3 Qtrs
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $18.27M USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $45.35M USD 3 Qtrs
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $18.53M USD 1 Quarter
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $45.75M USD 1 Quarter
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $88.49M USD 3 Qtrs
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $33.60M USD 1 Quarter
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $77.27M USD 3 Qtrs

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

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