10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-16-581368 |
| Period End Date | 20160331 |
| Filing Date | 20160506 |
| Fiscal Year | 2016 |
| Fiscal Period | Q1 |
| XBRL Instance | wso-20160331.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
|
$16.25M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$32.86M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$35.23M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$24.45M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$451.08M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$464.15M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$673.97M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$746.12M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$20.99M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$18.79M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.18B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.26B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$62.72M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$61.87M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$381.24M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$378.31M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$160.48M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$166.24M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$5.62M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$5.67M | USD | Point-in-time |
| Total assets |
Assets
|
$1.79B | USD | Point-in-time |
| Total assets |
Assets
|
$1.88B | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$187.00K | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$184.00K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$145.16M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$222.51M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$124.56M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$124.95M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$270.30M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$347.25M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$245.30M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$237.90M | USD | Point-in-time |
| Other long-term obligations, net of current portion |
LongTermDebtAndCapitalLeaseObligations
|
$514.00K | USD | Point-in-time |
| Other long-term obligations, net of current portion |
LongTermDebtAndCapitalLeaseObligations
|
$466.00K | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtNoncurrent
|
$238.37M | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtNoncurrent
|
$245.81M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredTaxAndOtherLiabilitiesNoncurrent
|
$68.61M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredTaxAndOtherLiabilitiesNoncurrent
|
$70.57M | 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
|
$18.31M | USD | Point-in-time |
| Common stock, $0.50 par value |
CommonStockValue
|
$18.33M | 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 |
AdditionalPaidInCapitalCommonStock
|
$610.28M | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$602.52M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-39.48M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-34.69M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-46.90M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$490.78M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$495.28M | 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
|
$968.07M | USD | Point-in-time |
| Total Watsco, Inc. shareholders' equity |
StockholdersEquity
|
$957.31M | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$252.64M | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$246.41M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.22B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.20B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.79B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.88B | USD | Point-in-time |
Income Statement
24 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
Revenues
|
$808.97M | USD | 1 Quarter |
| Revenues |
Revenues
|
$851.42M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$604.75M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$638.98M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$212.45M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$204.22M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$161.78M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$157.22M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$47.01M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$50.67M | USD | 1 Quarter |
| Interest expense, net |
InterestExpense
|
$1.38M | USD | 1 Quarter |
| Interest expense, net |
InterestExpense
|
$986.00K | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$45.63M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$49.68M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$14.33M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$15.51M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$31.30M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$8.25M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$8.64M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$25.54M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$23.05M | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.71 | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.65 | USD | 1 Quarter |
Cash Flow Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$31.30M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$4.96M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$4.62M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$2.83M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$2.79M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
NonCashContributionTo401KPlan
|
$2.35M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
NonCashContributionTo401KPlan
|
$1.96M | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$1.29M | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$1.06M | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
$358.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
$854.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-758.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-601.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$11.93M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$6.88M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$126.90M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$69.12M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$72.05M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$75.94M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-2.55M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-1.90M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$-16.78M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$41.85M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.74M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$3.11M | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$69.00K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$71.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-3.04M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-2.67M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$30.03M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$24.52M | USD | 1 Quarter |
| Net (repayments) proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$38.50M | USD | 1 Quarter |
| Net (repayments) proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-7.40M | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$7.12M | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$3.65M | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-45.00K | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-41.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
$358.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
$854.00K | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$2.10M | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$1.38M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$-41.64M | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$12.02M | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$87.00K | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$-387.00K | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-2.37M | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-8.20M | USD | 1 Quarter |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$16.25M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$32.86M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$35.23M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$24.45M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$16.25M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$32.86M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$35.23M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$24.45M | USD | Point-in-time |
Comprehensive Income
18 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$31.30M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$13.69M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-19.88M | USD | 1 Quarter |
| Unrealized (loss) gain on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-793.00K | USD | 1 Quarter |
| Unrealized (loss) gain on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$1.63M | USD | 1 Quarter |
| Reclassification of gain on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$137.00K | USD | 1 Quarter |
| Reclassification of gain on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$778.00K | USD | 1 Quarter |
| Unrealized gain on available-for-sale securities arising during the period |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$9.00K | USD | 1 Quarter |
| Unrealized gain on available-for-sale securities arising during the period |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$7.00K | USD | 1 Quarter |
| Other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$12.13M | USD | 1 Quarter |
| Other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$-18.38M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$12.92M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$46.30M | USD | 1 Quarter |
| Less: comprehensive income attributable to non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$13.34M | USD | 1 Quarter |
| Less: comprehensive income attributable to non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$816.00K | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$32.97M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$12.11M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.