$WSO
WATSCO INC

2011 Q4 Form 10-K Financial Statement

#000119312513084635 Filed on February 28, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $645.8M $914.0M $883.5M
YoY Change -1.74% 12.46% 2.17%
Cost Of Revenue $485.1M $694.6M $670.4M
YoY Change -3.6% 12.55% 1.0%
Gross Profit $160.7M $219.4M $213.2M
YoY Change 4.36% 12.23% 6.01%
Gross Profit Margin 24.88% 24.0% 24.13%
Selling, General & Admin $128.1M $145.1M $137.7M
YoY Change -3.1% 10.34% 5.73%
% of Gross Profit 79.71% 66.13% 64.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.200M $3.000M $2.900M
YoY Change 3.23% 15.38% 16.0%
% of Gross Profit 1.99% 1.37% 1.36%
Operating Expenses $128.1M $145.1M $137.7M
YoY Change -3.17% 10.26% 5.73%
Operating Profit $32.61M $74.31M $75.53M
YoY Change 50.28% 16.29% 6.53%
Interest Expense -$1.300M $1.352M $997.0K
YoY Change 62.5% -250.22% -210.78%
% of Operating Profit -3.99% 1.82% 1.32%
Other Income/Expense, Net
YoY Change
Pretax Income $31.20M $72.96M $74.53M
YoY Change 48.57% 15.62% 6.47%
Income Tax $8.700M $21.14M $22.26M
% Of Pretax Income 27.88% 28.98% 29.87%
Net Earnings $13.38M $33.55M $36.02M
YoY Change 28.65% 6.84% 2.92%
Net Earnings / Revenue 2.07% 3.67% 4.08%
Basic Earnings Per Share $0.39 $1.02 $1.09
Diluted Earnings Per Share $0.39 $1.02 $1.09
COMMON SHARES
Basic Shares Outstanding 30.69M shares 30.69M shares
Diluted Shares Outstanding 30.76M shares 30.77M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.70M $21.00M $18.60M
YoY Change -87.59% -78.98% -78.82%
Cash & Equivalents $15.67M $21.02M $18.63M
Short-Term Investments
Other Short-Term Assets $19.49M $27.50M $16.30M
YoY Change 34.42% 24.43% -17.68%
Inventory $465.3M $540.5M $612.7M
Prepaid Expenses
Receivables $327.7M $404.7M $435.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $828.2M $993.7M $1.083B
YoY Change -1.17% 8.4% 6.61%
LONG-TERM ASSETS
Property, Plant & Equipment $39.46M $37.30M $36.20M
YoY Change 26.46% 20.32% 15.29%
Goodwill $319.4M
YoY Change 5.18%
Intangibles $75.37M
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.710M $6.300M $6.800M
YoY Change -25.84% -25.0% -23.6%
Total Long-Term Assets $440.0M $438.1M $435.2M
YoY Change 10.21% 9.47% 8.26%
TOTAL ASSETS
Total Short-Term Assets $828.2M $993.7M $1.083B
Total Long-Term Assets $440.0M $438.1M $435.2M
Total Assets $1.268B $1.432B $1.518B
YoY Change 2.5% 8.73% 7.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $127.4M $171.4M $349.4M
YoY Change -30.1% -27.25% 1.33%
Accrued Expenses $75.66M $96.60M $96.00M
YoY Change -9.6% 3.76% -7.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M $115.0M $0.00
YoY Change 19900.0% 114900.0% -100.0%
Total Short-Term Liabilities $223.0M $383.1M $445.3M
YoY Change -16.15% 16.48% -0.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $65.00M
YoY Change -100.0% -100.0% 215.53%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $65.00M
YoY Change -100.0% -100.0% 215.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $223.0M $383.1M $445.3M
Total Long-Term Liabilities $0.00 $0.00 $65.00M
Total Liabilities $465.4M $627.2M $729.9M
YoY Change -1.57% 13.99% 9.56%
SHAREHOLDERS EQUITY
Retained Earnings $404.4M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $114.4M
YoY Change
Treasury Stock Shares
Shareholders Equity $802.8M $804.6M $788.0M
YoY Change
Total Liabilities & Shareholders Equity $1.268B $1.432B $1.518B
YoY Change 2.5% 8.73% 7.08%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income $13.38M $33.55M $36.02M
YoY Change 28.65% 6.84% 2.92%
Depreciation, Depletion And Amortization $3.200M $3.000M $2.900M
YoY Change 3.23% 15.38% 16.0%
Cash From Operating Activities $120.2M -$16.50M $2.700M
YoY Change 114.26% -141.35% -95.69%
INVESTING ACTIVITIES
Capital Expenditures -$4.700M -$3.500M -$4.000M
YoY Change 62.07% 105.88% 90.48%
Acquisitions
YoY Change
Other Investing Activities $1.600M -$9.000M -$35.40M
YoY Change 542.86% 1439.13%
Cash From Investing Activities -$3.100M -$12.40M -$39.50M
YoY Change 10.71% 300.0% 777.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -122.3M 31.30M 19.80M
YoY Change 358.05% -227.24% -144.49%
NET CHANGE
Cash From Operating Activities 120.2M -16.50M 2.700M
Cash From Investing Activities -3.100M -12.40M -39.50M
Cash From Financing Activities -122.3M 31.30M 19.80M
Net Change In Cash -5.200M 2.400M -17.00M
YoY Change -119.55% -80.33% -225.0%
FREE CASH FLOW
Cash From Operating Activities $120.2M -$16.50M $2.700M
Capital Expenditures -$4.700M -$3.500M -$4.000M
Free Cash Flow $124.9M -$13.00M $6.700M
YoY Change 111.69% -131.25% -89.64%

Facts In Submission

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0 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2012Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
2386000
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
228683000
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
82127000
CY2012Q4 wso Commercial Letters Of Credit
CommercialLettersOfCredit
3098000
CY2012Q4 wso Entity Wide Disclosure On Geographic Area Long Lived Assets
EntityWideDisclosureOnGeographicAreaLongLivedAssets
659605000
CY2012Q4 wso Finite Lived Intangible Assets Amortization Expense Next Five Years
FiniteLivedIntangibleAssetsAmortizationExpenseNextFiveYears
30646000
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42842000
CY2012Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
592820000
CY2012Q4 us-gaap Deferred Tax Liabilities Other
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1358000
CY2012Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
316196000
CY2012Q4 us-gaap Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
226000
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
583000
CY2012Q4 wso Number Of Joint Ventures
NumberOfJointVentures
3 Entity
CY2012Q4 wso Costs And Expenses Payable To Related Party
CostsAndExpensesPayableToRelatedParty
25000
CY2012Q4 wso Capitalized Vendor Rebates
CapitalizedVendorRebates
8015000
CY2012Q4 wso Number Of Share Based Compensation Plan
NumberOfShareBasedCompensationPlan
1 CompensationPlan
CY2012Q4 wso Operating Leases Maximum Maturity Date
OperatingLeasesMaximumMaturityDate
2023
CY2012Q4 wso Variable Interest Entity Maximum Loss Exposure
VariableInterestEntityMaximumLossExposure
7700000
CY2012Q4 wso Performance Bonds Contingent Liability
PerformanceBondsContingentLiability
300000
CY2012Q2 us-gaap Line Of Credit Facility Decrease Repayments
LineOfCreditFacilityDecreaseRepayments
72000000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0114 pure
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6559000
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
165572000
CY2010 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3083000
CY2010 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
30962000
CY2010 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
28088000
CY2010 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6042000
CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
19000
CY2010 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3824000
CY2010 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
13644000
CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5175000
CY2010 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
5285000
CY2010 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
80988000
CY2010 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
37635000
CY2010 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
22142000
CY2010 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.72 pure
CY2010 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
2862000
CY2010 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
30962000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0365 pure
CY2010 us-gaap Increase Decrease In Other Operating Capital Net
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-3910000
CY2010 us-gaap Depreciation Depletion And Amortization
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10771000
CY2010 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
2177000
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
5175000
CY2010 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.49
CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
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2111000
CY2010 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3016000
CY2010 us-gaap Profit Loss
ProfitLoss
111722000
CY2010 us-gaap Cost Of Goods And Services Sold
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2171354000
CY2010 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.04
CY2010 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-729000
CY2010 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
44845000
CY2010 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8832000
CY2010 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.311 pure
CY2010 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
152799000
CY2010 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
63000
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10134000
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
194000
CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.030 pure
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
3609000
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8421000
CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
68405000
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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311000
CY2010 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
4775000
CY2010 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
66028000
CY2010 us-gaap Advertising Expense
AdvertisingExpense
26646000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
49.43
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30578608 shares
CY2010 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
41250000
CY2010 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
4367000
CY2010 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
66028000
CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
162082000
CY2010 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
228000
CY2010 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.49
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
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CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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53000
CY2010 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1155000
CY2010 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
2862000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3335 pure
CY2010 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
9975 shares
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
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30467212 shares
CY2010 us-gaap Increase Decrease In Inventories
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-21447000
CY2010 us-gaap Current State And Local Tax Expense Benefit
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5515000
CY2010 us-gaap Operating Leases Rent Expense Net
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61835000
CY2010 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
111396 shares
CY2010 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2010 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
19678 shares
CY2010 us-gaap Revenues
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2844595000
CY2010 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
23309000
CY2010 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
37361000
CY2010 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
432000
CY2010 us-gaap Gross Profit
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673241000
CY2010 us-gaap Interest Paid
InterestPaid
1348000
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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117000
CY2010 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
12725000
CY2010 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
129641 shares
CY2010 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
489000
CY2010 us-gaap Net Income Loss
NetIncomeLoss
80760000
CY2010 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2862000
CY2010 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.069 pure
CY2010 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
507669000
CY2010 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50360000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
597000
CY2010 us-gaap Net Income Loss Available To Common Stockholders Basic
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75985000
CY2010 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
111950000
CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
34000
CY2010 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1939000
CY2010 us-gaap Interest Expense
InterestExpense
3490000
CY2010 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
75988000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.45
CY2010 wso Additional Shares Issued To Employee Stock Purchase Plan For Dividend Reinvestments
AdditionalSharesIssuedToEmployeeStockPurchasePlanForDividendReinvestments
5812 shares
CY2010 wso Effective Income Tax Rate Reconciliation Controlling Interest
EffectiveIncomeTaxRateReconciliationControllingInterest
0.380 pure
CY2010 wso Participating Securities Distributed And Undistributed Earnings After Dilution
ParticipatingSecuritiesDistributedAndUndistributedEarningsAfterDilution
4772000
CY2010 wso Percentage Of Total Purchases From Related Party
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0.52 pure
CY2010 wso Share Based Compensation Arrangement By Share Based Payment Award Average Price Per Share Of Shares Purchased
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51.69
CY2010 wso Non Cash Contribution To401 K Plan
NonCashContributionTo401KPlan
489000
CY2010 wso Stock Issuances From Exercise Of Stock Options And Employee Stock Purchase Plan Value
StockIssuancesFromExerciseOfStockOptionsAndEmployeeStockPurchasePlanValue
7316000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0112 pure
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4724000
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
199050000
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
916000
CY2011 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
47292000
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-98611000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5359000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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3000
CY2011 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
43455000
CY2011 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
26469000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6340000
CY2011 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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4530000
CY2011 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
90691000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
48540000
CY2011 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
23710000
CY2011 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.71 pure
CY2011 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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859000
CY2011 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
47292000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0348 pure
CY2011 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2721000
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11725000
CY2011 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1139000
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
6663000
CY2011 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
3404381000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.74
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
542000
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
737000
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2374000
CY2011 us-gaap Profit Loss
ProfitLoss
137742000
CY2011 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2249465000
CY2011 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
244000
CY2011 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.23
CY2011 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-69000
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
7000
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
50197000
CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
9364000
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.292 pure
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
61452000
CY2011 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
59000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-56643000
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
238000
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.031 pure
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
672000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13925000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-110825000
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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384000
CY2011 us-gaap Participating Securities Distributed And Undistributed Earnings
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6045000
CY2011 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
73276000
CY2011 us-gaap Advertising Expense
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25052000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
63.87
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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30753291 shares
CY2011 us-gaap Increase Decrease In Accounts Receivable
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-11987000
CY2011 us-gaap Stock Repurchased And Retired During Period Value
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617000
CY2011 us-gaap Dividends Common Stock Cash
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73276000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
194592000
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
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241000
CY2011 us-gaap Earnings Per Share Basic
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2.75
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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-115634000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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6000
CY2011 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
32000000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001 pure
CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
180000
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
859000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3259 pure
CY2011 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
27240 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30678206 shares
CY2011 us-gaap Increase Decrease In Inventories
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22489000
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6338000
CY2011 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
70933000
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
75085 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2011 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
2527 shares
CY2011 us-gaap Revenues
Revenues
2977759000
CY2011 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
23434000
CY2011 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
315000
CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
45137000
CY2011 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-171000
CY2011 us-gaap Gross Profit
GrossProfit
728294000
CY2011 us-gaap Interest Paid
InterestPaid
1854000
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
146000
CY2011 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
98767000
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8310000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33511 shares
CY2011 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
1718000
CY2011 us-gaap Net Income Loss
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90450000
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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859000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.088 pure
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
529244000
CY2011 us-gaap Goodwill Acquired During Period
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15737000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56850000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
475000
CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
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84405000
CY2011 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
137983000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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3000
CY2011 us-gaap Amortization Of Intangible Assets
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2361000
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63000
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5000 shares
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0.3140 pure
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CurrentStateAndLocalTaxExpenseBenefit
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P90D
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CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P2Y11M9D
CY2012 us-gaap Revenues
Revenues
3431712000
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
39010000
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CurrentForeignTaxExpenseBenefit
5478000
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IncomeTaxesPaidNet
46819000
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GainLossOnSaleOfPropertyPlantEquipment
-103000
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GrossProfit
814395000
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InterestPaid
2802000
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102575000
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6724000
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104244000
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17492 shares
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EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.083 pure
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103334000
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1079000
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589487000
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80500 shares
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77829000
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IncomeTaxExpenseBenefit
62642000
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127000
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315000
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85678000
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155851000
CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventories and income taxes, reserves related to self-insurance programs and the valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.</font></p> </div>
CY2012 wso Payment Of Fees Related To Revolving Credit Agreement
PaymentOfFeesRelatedToRevolvingCreditAgreement
2116000
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
35000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4925000
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.64
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
13380000
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InterestExpense
4665000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
85678000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.90
CY2012 wso Additional Shares Issued To Employee Stock Purchase Plan For Dividend Reinvestments
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15411 shares
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0.367 pure
CY2012 wso Percent Of Market Price That Share Based Compensation Awards Are Granted
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CY2012 wso Pro Forma Net Income Loss Attributable To Noncontrolling Interest
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CY2012 wso Participating Securities Distributed And Undistributed Earnings After Dilution
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17656000
CY2012 wso Number Of Key Suppliers
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4 Vendor
CY2012 wso Business Acquisitions Pro Forma Proft Loss
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156728000
CY2012 wso Percentage Of Total Purchases From Related Party
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0.57 pure
CY2012 wso Vesting Age Of Chief Executive Officer
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82 Age
CY2012 wso Share Based Compensation Arrangement By Share Based Payment Award Average Price Per Share Of Shares Purchased
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CY2012 wso Non Cash Contribution To401 K Plan
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7163000
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36023000
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0.23
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0.23
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1.02
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0.37

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