10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-14-177150 |
| Period End Date | 20140331 |
| Filing Date | 20140501 |
| Fiscal Year | 2014 |
| Fiscal Period | Q1 |
| XBRL Instance | wso-20140331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
65 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.50 | USD | Point-in-time |
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.50 | USD | Point-in-time |
| 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
|
$19.46M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$19.48M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$22.03M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$394.87M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$399.56M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$707.84M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$583.15M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$17.00M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$18.91M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.14B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.02B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$45.42M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$44.07M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$392.61M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$390.12M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$203.84M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$197.11M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$6.38M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$6.56M | USD | Point-in-time |
| Assets, Total |
Assets
|
$1.78B | USD | Point-in-time |
| Assets, Total |
Assets
|
$1.67B | USD | Point-in-time |
| Current portion of other long-term obligations |
OtherLongTermDebtCurrent
|
$107.00K | USD | Point-in-time |
| Current portion of other long-term obligations |
OtherLongTermDebtCurrent
|
$109.00K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$260.66M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$141.10M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$102.30M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$92.40M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$243.51M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$353.18M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$226.74M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$230.04M | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$485.00K | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$513.00K | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtNoncurrent
|
$230.56M | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtNoncurrent
|
$227.23M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredTaxAndOtherLiabilitiesNoncurrent
|
$68.08M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredTaxAndOtherLiabilitiesNoncurrent
|
$68.40M | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Common stock, $0.50 par value |
CommonStockValue
|
$18.21M | USD | Point-in-time |
| Common stock, $0.50 par value |
CommonStockValue
|
$18.18M | 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
|
$606.38M | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapital
|
$613.28M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-16.85M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-11.47M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-4.98M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$339.36M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$342.19M | 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
|
$840.40M | USD | Point-in-time |
| Total Watsco, Inc. shareholders' equity |
StockholdersEquity
|
$844.86M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$283.19M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$287.00M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.13B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.13B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.78B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.67B | USD | Point-in-time |
Income Statement
26 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
Revenues
|
$713.63M | USD | 1 Quarter |
| Revenues |
Revenues
|
$762.57M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$538.19M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$574.50M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$188.07M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$175.45M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$152.52M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$144.89M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$35.55M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$30.55M | USD | 1 Quarter |
| Interest expense, net |
InterestExpense
|
$1.18M | USD | 1 Quarter |
| Interest expense, net |
InterestExpense
|
$1.01M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$34.54M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$29.37M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$10.14M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$8.28M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$21.09M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$24.40M | USD | 1 Quarter |
| Less: net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$7.70M | USD | 1 Quarter |
| Less: net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$7.65M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$13.38M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$16.75M | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.48 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.39 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.48 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.39 | USD | 1 Quarter |
Cash Flow Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$21.09M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$24.40M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$4.43M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$4.30M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$2.30M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$2.49M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
$1.69M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
$1.76M | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$927.00K | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$1.16M | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
$50.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
$131.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-961.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-769.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-1.99M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$5.38M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$126.32M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$102.12M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$112.35M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$57.52M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-1.23M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-2.04M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$24.90M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-17.50M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$1.74M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$3.07M | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$110.00K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$70.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-1.67M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.96M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$8.64M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$13.92M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsOfDividendsMinorityInterest
|
$7.61M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsOfDividendsMinorityInterest
|
$29.64M | USD | 1 Quarter |
| Net (repayments) proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$6.65M | USD | 1 Quarter |
| Net (repayments) proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-2.55M | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-26.00K | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-1.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
$131.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
$50.00K | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$873.00K | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$497.00K | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-23.11M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-31.08M | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$-199.00K | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$-144.00K | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-51.74M | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-21.00K | USD | 1 Quarter |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$73.77M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$19.46M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$19.48M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$22.03M | 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
|
$19.46M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$19.48M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$22.03M | USD | Point-in-time |
Comprehensive Income
14 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$21.09M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$24.40M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-2.88M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-9.21M | USD | 1 Quarter |
| Unrealized gain on available-for-sale securities arising during the period |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$1.00K | USD | 1 Quarter |
| Unrealized gain on available-for-sale securities arising during the period |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$8.00K | USD | 1 Quarter |
| Other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
$-9.21M | USD | 1 Quarter |
| Other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
$-2.88M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$15.19M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$18.21M | USD | 1 Quarter |
| Less: comprehensive income attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$5.53M | USD | 1 Quarter |
| Less: comprehensive income attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$3.81M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$12.69M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$11.38M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.