10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-18-157322 |
| Period End Date | 20180331 |
| Filing Date | 20180509 |
| Fiscal Year | 2018 |
| Fiscal Period | Q1 |
| XBRL Instance | wso-20180331.xml |
Filing Contents
This filing contains the following financial statements:
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
|
$80.50M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$56.01M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$58.07M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$478.13M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$486.65M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$761.31M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$810.02M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$16.98M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$17.45M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.37B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.34B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$90.24M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$91.20M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$382.73M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$381.55M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$161.06M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$156.53M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$76.23M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$74.49M | USD | Point-in-time |
| Total assets |
Assets
|
$2.08B | USD | Point-in-time |
| Total assets |
Assets
|
$2.05B | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$244.00K | USD | Point-in-time |
| Current portion of other long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$236.00K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$245.41M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$230.48M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$132.09M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedLiabilitiesCurrent
|
$185.76M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$377.73M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$416.48M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$91.00M | USD | Point-in-time |
| Borrowings under revolving credit agreement |
LongTermLineOfCredit
|
$21.80M | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$285.00K | USD | Point-in-time |
| Other long-term obligations, net of current portion |
OtherLongTermDebtNoncurrent
|
$233.00K | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtAndCapitalLeaseObligations
|
$91.23M | USD | Point-in-time |
| Total long-term obligations |
LongTermDebtAndCapitalLeaseObligations
|
$22.09M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
|
$57.34M | USD | Point-in-time |
| Deferred income taxes and other liabilities |
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
|
$57.69M | 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 |
AdditionalPaidInCapitalCommonStock
|
$814.71M | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$804.01M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-34.22M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-37.57M | USD | Point-in-time |
| Accumulated other comprehensive loss, net of tax |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-42.49M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$594.56M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$581.89M | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$87.44M | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$87.44M | USD | Point-in-time |
| Total Watsco, Inc. shareholders' equity |
StockholdersEquity
|
$1.30B | USD | Point-in-time |
| Total Watsco, Inc. shareholders' equity |
StockholdersEquity
|
$1.29B | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$256.91M | USD | Point-in-time |
| Non-controlling interest |
MinorityInterest
|
$253.02M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.55B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.55B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$2.08B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$2.05B | USD | Point-in-time |
Income Statement
25 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
SalesRevenueNet
|
$926.58M | USD | 1 Quarter |
| Revenues |
SalesRevenueNet
|
$872.10M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$695.74M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$653.54M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$218.56M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$230.83M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$169.86M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$178.53M | USD | 1 Quarter |
| Other income |
IncomeLossFromEquityMethodInvestments
|
$1.64M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$53.94M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$48.70M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNet
|
$-565.00K | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNet
|
$-1.25M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$53.37M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$47.44M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$13.68M | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
$10.99M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$42.38M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$8.16M | USD | 1 Quarter |
| Less: net income attributable to non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$7.59M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$34.22M | USD | 1 Quarter |
| Net income attributable to Watsco, Inc. |
NetIncomeLoss
|
$26.18M | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.89 | USD | 1 Quarter |
| Basic and diluted |
EarningsPerShareBasicAndDiluted
|
$0.71 | USD | 1 Quarter |
Cash Flow Statement
55 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$42.38M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$5.37M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$5.54M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$3.03M | USD | 1 Quarter |
| Share-based compensation |
ShareBasedCompensation
|
$3.59M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
NonCashContributionTo401KPlan
|
$2.43M | USD | 1 Quarter |
| Non-cash contribution to 401(k) plan |
NonCashContributionTo401KPlan
|
$2.94M | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$898.00K | USD | 1 Quarter |
| Provision for doubtful accounts |
ProvisionForDoubtfulAccounts
|
$401.00K | USD | 1 Quarter |
| Other income from investment in unconsolidated entity |
IncomeLossFromEquityMethodInvestments
|
$1.64M | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-661.00K | USD | 1 Quarter |
| Other, net |
OtherNoncashIncomeExpense
|
$-431.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$5.68M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$10.06M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$66.10M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$49.94M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$63.03M | USD | 1 Quarter |
| Accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayable
|
$-36.65M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-890.00K | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$2.58M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$34.32M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$-41.61M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$3.49M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$4.15M | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$62.00K | USD | 1 Quarter |
| Proceeds from sale of property and equipment |
ProceedsFromSaleOfPropertyPlantAndEquipment
|
$20.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-3.43M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-4.13M | USD | 1 Quarter |
| Net proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$45.01M | USD | 1 Quarter |
| Net proceeds under revolving credit agreement |
ProceedsFromRepaymentsOfLinesOfCredit
|
$69.20M | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$2.96M | USD | 1 Quarter |
| Net proceeds from issuances of common stock |
ProceedsFromIssuanceOfCommonStock
|
$1.39M | USD | 1 Quarter |
| Purchase of additional ownership from non-controlling interest |
PaymentsToAcquireAdditionalInterestInSubsidiaries
|
$42.69M | USD | 1 Quarter |
| Proceeds from short-term borrowings |
ProceedsFromRepaymentsOfShortTermDebt
|
$1.60M | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-60.00K | USD | 1 Quarter |
| Net repayments of other long-term obligations |
ProceedsFromRepaymentsOfOtherLongTermDebt
|
$-49.00K | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$2.18M | USD | 1 Quarter |
| Distributions to non-controlling interest |
PaymentsOfDividendsMinorityInterest
|
$6.80M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$46.58M | USD | 1 Quarter |
| Dividends on Common and Class B common stock |
PaymentsOfDividendsCommonStock
|
$37.38M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$-38.93M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$23.34M | 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
|
$-716.00K | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-8.59M | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-22.42M | USD | 1 Quarter |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$80.50M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | 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
|
$58.07M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$80.50M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashAndCashEquivalentsAtCarryingValue
|
$47.42M | 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
|
$58.07M | USD | Point-in-time |
Comprehensive Income
17 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$42.38M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$33.77M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-6.64M | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$2.15M | USD | 1 Quarter |
| Unrealized gain (loss) on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-309.00K | USD | 1 Quarter |
| Unrealized gain (loss) on cash flow hedging instruments arising during the period |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$151.00K | USD | 1 Quarter |
| Reclassification of loss (gain) on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$178.00K | USD | 1 Quarter |
| Reclassification of loss (gain) on cash flow hedging instruments into earnings |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$-753.00K | USD | 1 Quarter |
| Unrealized gain on available-for-sale securities arising during the period |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$8.00K | USD | 1 Quarter |
| Other comprehensive (loss) income |
OtherComprehensiveIncomeLossNetOfTax
|
$1.68M | USD | 1 Quarter |
| Other comprehensive (loss) income |
OtherComprehensiveIncomeLossNetOfTax
|
$-5.74M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$35.44M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$36.64M | 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
|
$6.07M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$27.22M | USD | 1 Quarter |
| Comprehensive income attributable to Watsco, Inc. |
ComprehensiveIncomeNetOfTax
|
$30.57M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.