$AIT
APPLIED INDUSTRIAL TECHNOLOGIES INC

2021 Q4 Form 10-Q Financial Statement

#000010956322000025 Filed on January 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q2 2020 Q4
Revenue $876.9M $895.9M $751.3M
YoY Change 16.72% 23.55% -9.85%
Cost Of Revenue $619.2M $632.9M $541.8M
YoY Change 14.3% 22.47% -8.51%
Gross Profit $257.6M $263.0M $209.5M
YoY Change 22.95% 26.25% -13.14%
Gross Profit Margin 29.38% 29.35% 27.89%
Selling, General & Admin $179.4M $185.1M $162.4M
YoY Change 10.48% 15.82% -10.99%
% of Gross Profit 69.65% 70.38% 77.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.436M $13.35M $5.209M
YoY Change 4.36% -11.62% -3.43%
% of Gross Profit 2.11% 5.07% 2.49%
Operating Expenses $179.4M $185.1M $162.4M
YoY Change 10.48% 15.89% -10.99%
Operating Profit $78.18M $77.90M -$2.422M
YoY Change -3327.79% 60.29% -104.12%
Interest Expense -$6.193M -$7.084M -$7.800M
YoY Change -20.6% 1.2% -17.02%
% of Operating Profit -7.92% -9.09%
Other Income/Expense, Net $869.0K -$135.0K -$88.00K
YoY Change -1087.5% -140.93%
Pretax Income $72.04M $73.88M -$10.17M
YoY Change -808.49% 84.24% -120.59%
Income Tax $15.01M $14.64M -$4.834M
% Of Pretax Income 20.84% 19.81%
Net Earnings $57.03M $59.24M -$5.334M
YoY Change -1169.1% 97.48% -114.03%
Net Earnings / Revenue 6.5% 6.61% -0.71%
Basic Earnings Per Share $1.48 -$0.14
Diluted Earnings Per Share $1.46 $1.504M -$0.14
COMMON SHARES
Basic Shares Outstanding 38.46M shares 38.86M shares 38.78M shares
Diluted Shares Outstanding 39.12M shares 38.78M shares

Balance Sheet

Concept 2021 Q4 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.8M $257.7M $288.8M
YoY Change -46.38% -4.04% 125.45%
Cash & Equivalents $154.8M $257.7M $288.8M
Short-Term Investments
Other Short-Term Assets $68.88M $59.96M $54.86M
YoY Change 25.54% 15.15% 14.53%
Inventory $399.8M $362.5M $363.8M
Prepaid Expenses
Receivables $520.1M $516.3M $444.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.144B $1.197B $1.152B
YoY Change -0.69% 3.17% 0.79%
LONG-TERM ASSETS
Property, Plant & Equipment $112.1M $115.6M $120.5M
YoY Change -6.98% -5.18% -4.53%
Goodwill $562.8M $560.1M $557.3M
YoY Change 1.0% 3.6% -17.22%
Intangibles $266.3M $279.6M $294.6M
YoY Change -9.6% -18.53% -19.19%
Long-Term Investments $18.20M $16.84M $15.20M
YoY Change 19.74% 36.94% 23.58%
Other Assets $49.86M $32.83M $30.08M
YoY Change 65.77% 19.65% 11.06%
Total Long-Term Assets $1.082B $1.075B $1.089B
YoY Change -0.67% -4.32% -14.65%
TOTAL ASSETS
Total Short-Term Assets $1.144B $1.197B $1.152B
Total Long-Term Assets $1.082B $1.075B $1.089B
Total Assets $2.226B $2.272B $2.241B
YoY Change -0.68% -0.51% -7.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $203.6M $208.2M $196.5M
YoY Change 3.61% 11.75% -7.46%
Accrued Expenses $64.69M $77.66M $67.30M
YoY Change -3.88% -12.84% -20.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $40.18M $43.53M $78.64M
YoY Change -48.9% -44.66% 6.6%
Total Short-Term Liabilities $399.9M $427.7M $425.9M
YoY Change -6.11% 0.38% 1.23%
LONG-TERM LIABILITIES
Long-Term Debt $681.3M $784.9M $783.1M
YoY Change -13.0% -8.22% -10.45%
Other Long-Term Liabilities $122.9M $126.7M $151.4M
YoY Change -18.81% -20.2% -6.35%
Total Long-Term Liabilities $804.2M $911.6M $934.4M
YoY Change -13.94% -10.1% -9.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $399.9M $427.7M $425.9M
Total Long-Term Liabilities $804.2M $911.6M $934.4M
Total Liabilities $1.204B $1.339B $1.360B
YoY Change -11.49% -7.0% -6.62%
SHAREHOLDERS EQUITY
Retained Earnings $1.392B $1.294B $1.218B
YoY Change 14.3% 7.82% -5.66%
Common Stock $190.2M $187.0M $185.0M
YoY Change 2.83% 0.28% 0.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $467.3M $455.8M $414.5M
YoY Change 12.73% 10.07% -0.01%
Treasury Stock Shares 15.76M shares 15.70M shares 15.38M shares
Shareholders Equity $1.022B $932.5M $880.7M
YoY Change
Total Liabilities & Shareholders Equity $2.226B $2.272B $2.241B
YoY Change -0.68% -0.51% -7.36%

Cashflow Statement

Concept 2021 Q4 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income $57.03M $59.24M -$5.334M
YoY Change -1169.1% 97.48% -114.03%
Depreciation, Depletion And Amortization $5.436M $13.35M $5.209M
YoY Change 4.36% -11.62% -3.43%
Cash From Operating Activities $32.62M $38.30M $77.60M
YoY Change -57.96% -69.87% 41.35%
INVESTING ACTIVITIES
Capital Expenditures -$3.889M -$3.652M -$4.800M
YoY Change -18.98% -6.36% -32.39%
Acquisitions
YoY Change
Other Investing Activities $514.0K $222.0K -$31.00M
YoY Change -101.66% 122.0% 6100.0%
Cash From Investing Activities -$3.375M -$3.430M -$35.80M
YoY Change -90.57% -7.3% 383.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -121.5M -82.54M -27.10M
YoY Change 348.2% 271.79% 55.75%
NET CHANGE
Cash From Operating Activities 32.62M 38.30M 77.60M
Cash From Investing Activities -3.375M -3.430M -35.80M
Cash From Financing Activities -121.5M -82.54M -27.10M
Net Change In Cash -92.22M -47.67M 14.70M
YoY Change -727.32% -147.1% -51.16%
FREE CASH FLOW
Cash From Operating Activities $32.62M $38.30M $77.60M
Capital Expenditures -$3.889M -$3.652M -$4.800M
Free Cash Flow $36.51M $41.95M $82.40M
YoY Change -55.69% -67.98% 32.9%

Facts In Submission

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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Year Focus
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2022
dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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2021-12-31
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
OH
dei Entity Tax Identification Number
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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dei Trading Symbol
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8246000 USD
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
1996000 USD
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
876874000 USD
CY2021Q4 us-gaap Depreciation
Depreciation
5436000 USD
CY2021Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3889000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
751287000 USD
CY2020Q4 us-gaap Depreciation
Depreciation
5209000 USD
CY2020Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4852000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1768555000 USD
CY2021Q4 us-gaap Assets
Assets
2225709000 USD
us-gaap Depreciation
Depreciation
10863000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
7510000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1499094000 USD
CY2020Q4 us-gaap Assets
Assets
2241017000 USD
us-gaap Depreciation
Depreciation
10561000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
8449000 USD
CY2021Q4 ait Corporateandotherexpenseincomenet
Corporateandotherexpenseincomenet
17615000 USD
CY2020Q4 ait Corporateandotherexpenseincomenet
Corporateandotherexpenseincomenet
13920000 USD
ait Corporateandotherexpenseincomenet
Corporateandotherexpenseincomenet
34338000 USD
ait Corporateandotherexpenseincomenet
Corporateandotherexpenseincomenet
27648000 USD
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
78177000 USD
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2422000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
152791000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
49886000 USD
CY2021Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7007000 USD
CY2020Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7658000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-14397000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-15311000 USD
CY2021Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
869000 USD
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-88000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1181000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
89000 USD
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
72039000 USD
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-10168000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
139575000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34664000 USD
CY2021Q4 ait Unrealized Gain Losses Gains On Assets Held Under Trust For A Nonqualified Deferred Compensation Plan
UnrealizedGainLossesGainsOnAssetsHeldUnderTrustForANonqualifiedDeferredCompensationPlan
1031000 USD
CY2020Q4 ait Unrealized Gain Losses Gains On Assets Held Under Trust For A Nonqualified Deferred Compensation Plan
UnrealizedGainLossesGainsOnAssetsHeldUnderTrustForANonqualifiedDeferredCompensationPlan
1643000 USD
ait Unrealized Gain Losses Gains On Assets Held Under Trust For A Nonqualified Deferred Compensation Plan
UnrealizedGainLossesGainsOnAssetsHeldUnderTrustForANonqualifiedDeferredCompensationPlan
940000 USD
ait Unrealized Gain Losses Gains On Assets Held Under Trust For A Nonqualified Deferred Compensation Plan
UnrealizedGainLossesGainsOnAssetsHeldUnderTrustForANonqualifiedDeferredCompensationPlan
2462000 USD
CY2021Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-217000 USD
CY2020Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1805000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
350000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2221000 USD
CY2021Q4 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
153000 USD
CY2020Q4 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
71000 USD
us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
305000 USD
us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
142000 USD
CY2021Q4 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
113000 USD
CY2020Q4 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
36000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
154000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
-141000 USD
CY2021Q4 ait Other Net
OtherNet
95000 USD
CY2020Q4 ait Other Net
OtherNet
109000 USD
ait Other Net
OtherNet
42000 USD
ait Other Net
OtherNet
131000 USD
CY2021Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
869000 USD
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-88000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1181000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
89000 USD

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