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10-Q Filing

WATSCO INC CIK: 105016 Q3 2013
Filing Information
Form Type 10-Q
Accession Number 0001193125-13-422654
Period End Date 20130930
Filing Date 20131101
Fiscal Year 2013
Fiscal Period Q3
XBRL Instance wso-20130930.xml
Filing Contents
Balance Sheet 61 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 $73.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.23M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.67M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $45.96M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $377.65M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $466.34M USD Point-in-time
Inventories InventoryNet $643.87M USD Point-in-time
Inventories InventoryNet $546.08M USD Point-in-time
Other current assets OtherAssetsCurrent $17.94M USD Point-in-time
Other current assets OtherAssetsCurrent $22.37M USD Point-in-time
Total current assets AssetsCurrent $1.16B USD Point-in-time
Total current assets AssetsCurrent $1.02B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $44.89M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $42.84M USD Point-in-time
Goodwill Goodwill $394.75M USD Point-in-time
Goodwill Goodwill $397.26M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $209.83M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $219.50M USD Point-in-time
Other assets OtherAssetsNoncurrent $7.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $6.75M USD Point-in-time
Assets, Total Assets $1.82B USD Point-in-time
Assets, Total Assets $1.68B USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $4.00K USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $106.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $198.28M USD Point-in-time
Accounts payable AccountsPayableCurrent $184.96M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $113.41M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $97.40M USD Point-in-time
Total current liabilities LiabilitiesCurrent $311.79M USD Point-in-time
Total current liabilities LiabilitiesCurrent $282.36M USD Point-in-time
Borrowings under revolving credit agreement LongTermLineOfCredit $316.18M USD Point-in-time
Borrowings under revolving credit agreement LongTermLineOfCredit $284.80M USD Point-in-time
Other long-term obligations, net of current portion OtherLongTermDebtNoncurrent $14.00K USD Point-in-time
Other long-term obligations, net of current portion OtherLongTermDebtNoncurrent $540.00K USD Point-in-time
Total long-term obligations LongTermDebtNoncurrent $316.20M USD Point-in-time
Total long-term obligations LongTermDebtNoncurrent $285.34M USD Point-in-time
Deferred income taxes and other liabilities DeferredTaxAndOtherLiabilitiesNoncurrent $64.38M USD Point-in-time
Deferred income taxes and other liabilities DeferredTaxAndOtherLiabilitiesNoncurrent $61.46M 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 $592.82M USD Point-in-time
Paid-in capital AdditionalPaidInCapital $603.59M 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 $-2.10M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.86M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $251.47M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $335.92M 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 $748.21M USD Point-in-time
Total Watsco, Inc. shareholders' equity StockholdersEquity $838.75M USD Point-in-time
Noncontrolling interest MinorityInterest $317.77M USD Point-in-time
Noncontrolling interest MinorityInterest $273.83M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.16B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.68B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.82B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Revenues Revenues $2.92B USD 3 Qtrs
Revenues Revenues $1.08B USD 1 Quarter
Revenues Revenues $1.02B USD 1 Quarter
Revenues Revenues $2.67B USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $2.22B USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $778.35M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $823.30M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.03B USD 3 Qtrs
Gross profit GrossProfit $258.60M USD 1 Quarter
Gross profit GrossProfit $631.60M USD 3 Qtrs
Gross profit GrossProfit $700.72M USD 3 Qtrs
Gross profit GrossProfit $242.50M USD 1 Quarter
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 $163.14M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $469.63M USD 3 Qtrs
Operating income OperatingIncomeLoss $231.09M USD 3 Qtrs
Operating income OperatingIncomeLoss $191.48M USD 3 Qtrs
Operating income OperatingIncomeLoss $95.45M USD 1 Quarter
Operating income OperatingIncomeLoss $85.70M USD 1 Quarter
Interest expense, net InterestExpense $1.78M USD 1 Quarter
Interest expense, net InterestExpense $4.65M USD 3 Qtrs
Interest expense, net InterestExpense $1.19M USD 1 Quarter
Interest expense, net InterestExpense $3.42M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $188.05M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $84.51M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $226.44M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $93.67M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $66.65M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $27.56M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $54.13M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $24.98M USD 1 Quarter
Net income ProfitLoss $66.12M USD 1 Quarter
Net income ProfitLoss $159.79M USD 3 Qtrs
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $59.53M USD 1 Quarter
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $20.42M USD 1 Quarter
Less: net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $49.39M 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
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 $110.40M USD 3 Qtrs
Net income attributable to Watsco, Inc. NetIncomeLoss $45.70M USD 1 Quarter
Basic EarningsPerShareBasic $3.19 USD 3 Qtrs
Basic EarningsPerShareBasic $2.62 USD 3 Qtrs
Basic EarningsPerShareBasic $1.19 USD 1 Quarter
Basic EarningsPerShareBasic $1.32 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.32 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.19 USD 1 Quarter
Diluted EarningsPerShareDiluted $3.18 USD 3 Qtrs
Diluted EarningsPerShareDiluted $2.61 USD 3 Qtrs
Cash Flow Statement 59 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $66.12M USD 1 Quarter
Net income ProfitLoss $159.79M USD 3 Qtrs
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $59.53M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $13.22M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $11.28M USD 3 Qtrs
Share-based compensation ShareBasedCompensation $6.45M USD 3 Qtrs
Share-based compensation ShareBasedCompensation $5.61M USD 3 Qtrs
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $4.21M USD 3 Qtrs
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $4.74M USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $590.00K USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $913.00K USD 3 Qtrs
Other, net OtherNoncashIncomeExpense $-1.51M USD 3 Qtrs
Other, net OtherNoncashIncomeExpense $-2.35M USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $90.20M USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $81.79M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $98.00M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $99.66M USD 3 Qtrs
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayable $87.70M USD 3 Qtrs
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayable $60.28M USD 3 Qtrs
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $3.83M USD 3 Qtrs
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $446.00K USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $51.18M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $64.44M USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $10.91M USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $9.23M USD 3 Qtrs
Business acquisition, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $80.48M USD 3 Qtrs
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $405.00K USD 3 Qtrs
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $222.00K USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-89.30M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-10.69M USD 3 Qtrs
Distributions to noncontrolling interest PaymentsOfDividendsMinorityInterest $16.00M USD 3 Qtrs
Distributions to noncontrolling interest PaymentsOfDividendsMinorityInterest $31.49M 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 $25.96M USD 3 Qtrs
Payment of fees related to revolving credit agreement PaymentOfFeesRelatedToRevolvingCreditAgreement $2.07M USD 3 Qtrs
Payment of fees related to revolving credit agreement PaymentOfFeesRelatedToRevolvingCreditAgreement $456.00K USD 3 Qtrs
Purchase of additional ownership from noncontrolling interest PaymentsToAcquireAdditionalInterestInSubsidiaries $51.88M USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $913.00K USD 3 Qtrs
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $590.00K USD 3 Qtrs
Net proceeds from other long-term obligations ProceedsFromRepaymentsOfOtherLongTermDebt $628.00K USD 3 Qtrs
Net proceeds from other long-term obligations ProceedsFromRepaymentsOfOtherLongTermDebt $2.00K USD 3 Qtrs
Net proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock $2.00M USD 3 Qtrs
Net proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock $3.98M USD 3 Qtrs
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $54.83M USD 3 Qtrs
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-84.69M USD 3 Qtrs
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $319.00K USD 3 Qtrs
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-336.00K USD 3 Qtrs
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-44.54M USD 3 Qtrs
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $30.29M USD 3 Qtrs
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $73.77M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $29.23M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $15.67M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $45.96M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $73.77M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $29.23M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $15.67M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $45.96M USD Point-in-time
Common stock issued for Carrier Enterprise III StockIssued1 $93.25M USD 3 Qtrs
Comprehensive Income 28 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $66.12M USD 1 Quarter
Net income ProfitLoss $159.79M USD 3 Qtrs
Net income ProfitLoss $133.93M USD 3 Qtrs
Net income ProfitLoss $59.53M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $8.45M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $5.07M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-212.00K USD 3 Qtrs
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-8.37M USD 3 Qtrs
Unrealized gain on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $27.00K USD 3 Qtrs
Unrealized gain on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $18.00K USD 1 Quarter
Unrealized gain on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $15.00K USD 3 Qtrs
Unrealized gain on available-for-sale securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $15.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $5.09M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-185.00K USD 3 Qtrs
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $8.47M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-8.35M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $71.21M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $151.44M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $68.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $133.74M USD 3 Qtrs
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $45.79M USD 3 Qtrs
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $22.59M USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $22.25M USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $45.25M USD 3 Qtrs
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $48.62M USD 1 Quarter
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $45.75M USD 1 Quarter
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $105.64M USD 3 Qtrs
Comprehensive income attributable to Watsco, Inc. ComprehensiveIncomeNetOfTax $88.49M USD 3 Qtrs

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

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