10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-17-160753 |
| Period End Date | 20170331 |
| Filing Date | 20170505 |
| Fiscal Year | 2017 |
| Fiscal Period | Q1 |
| XBRL Instance | wso-20170331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
66 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
|
$32.86M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$35.23M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$56.01M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$475.97M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$481.60M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$685.01M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$751.50M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$23.16M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$19.98M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.24B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.30B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$90.50M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$90.53M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$379.74M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$380.17M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$158.32M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$158.56M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$5.76M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$5.69M | USD | Point-in-time |
| Total assets |
Assets
|
$1.94B | USD | Point-in-time |
| Total assets |
Assets
|
$1.87B | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$202.00K | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$200.00K | USD | Point-in-time |
| Short-term borrowings |
ShortTermBorrowings
|
$1.60M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$185.48M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$259.74M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$129.21M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$117.36M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$314.89M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$378.90M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$280.30M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$235.29M | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$297.00K | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$348.00K | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtAndCapitalLeaseObligations
|
$280.60M | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtAndCapitalLeaseObligations
|
$235.64M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
|
$72.37M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
|
$67.57M | 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
|
$18.34M | USD | Point-in-time |
| Common stock, $0.50 par value |
CommonStockValue
|
$18.36M | 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
|
$574.95M | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$592.35M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-43.53M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-42.49M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-39.48M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$539.28M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$550.48M | 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
|
$978.34M | USD | Point-in-time |
| Total Watsco, Inc. shareholders' equity |
StockholdersEquity
|
$1.01B | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$245.92M | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$229.88M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.25B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.21B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.87B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.94B | USD | Point-in-time |
Income Statement
24 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
Revenues
|
$872.10M | USD | 1 Quarter |
| Revenues |
Revenues
|
$851.42M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$653.54M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$638.98M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$212.45M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$218.56M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$161.78M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$169.86M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$50.67M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$48.70M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNet
|
$-986.00K | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNet
|
$-1.25M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$49.68M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$47.44M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$15.51M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$13.68M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$7.59M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$8.64M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$26.18M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$25.54M | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.71 | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.71 | USD | 1 Quarter |
Cash Flow Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$4.96M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$5.37M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$3.03M | 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
|
$2.43M | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$401.00K | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$1.06M | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
$854.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-661.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-601.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$5.68M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$11.93M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$66.10M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$69.12M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$75.94M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$63.03M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-1.90M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$2.58M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$41.85M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$34.32M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.74M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$4.15M | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$69.00K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$20.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-2.67M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-4.13M | USD | 1 Quarter |
| Purchase of additional ownership from non-controlling interest |
PaymentsToAcquireAdditionalInterestInSubsidiaries
|
$42.69M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$37.38M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$30.03M | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$6.80M | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$7.12M | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-49.00K | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-45.00K | USD | 1 Quarter |
| Excess tax benefits from share-based compensation |
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
$854.00K | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$1.39M | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$2.10M | USD | 1 Quarter |
| Proceeds from short-term borrowings |
ProceedsFromRepaymentsOfShortTermDebt
|
$1.60M | USD | 1 Quarter |
| Net proceeds (repayments) under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$45.01M | USD | 1 Quarter |
| Net proceeds (repayments) under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-7.40M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$-41.64M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$-38.93M | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$150.00K | USD | 1 Quarter |
| Effect of foreign exchange rate changes on cash and cash equivalents |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$87.00K | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-8.59M | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-2.37M | USD | 1 Quarter |
| 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
|
$56.01M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | 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
|
$56.01M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | USD | Point-in-time |
Comprehensive Income
18 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$34.17M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$2.15M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$13.69M | USD | 1 Quarter |
| Unrealized loss on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-309.00K | USD | 1 Quarter |
| Unrealized loss on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-793.00K | USD | 1 Quarter |
| Reclassification of gain on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$778.00K | USD | 1 Quarter |
| Reclassification of gain on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$178.00K | 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
|
$8.00K | USD | 1 Quarter |
| Other comprehensive income |
OtherComprehensiveIncomeLossNetOfTax
|
$1.68M | USD | 1 Quarter |
| Other comprehensive income |
OtherComprehensiveIncomeLossNetOfTax
|
$12.13M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$35.44M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$46.30M | USD | 1 Quarter |
| Less: comprehensive income attributable to non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$8.22M | USD | 1 Quarter |
| Less: comprehensive income attributable to non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$13.34M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$27.22M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$32.97M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.