$WSO
WATSCO INC

2018 Q1 Form 10-Q Financial Statement

#000119312518157322 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $926.6M $872.1M
YoY Change 6.25% 2.43%
Cost Of Revenue $695.7M $653.5M
YoY Change 6.46% 2.28%
Gross Profit $230.8M $218.6M
YoY Change 5.62% 2.88%
Gross Profit Margin 24.91% 25.06%
Selling, General & Admin $178.5M $169.9M
YoY Change 5.11% 4.99%
% of Gross Profit 77.34% 77.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.538M $5.365M
YoY Change 3.22% 8.23%
% of Gross Profit 2.4% 2.45%
Operating Expenses $178.5M $169.9M
YoY Change 5.11% 4.99%
Operating Profit $53.94M $48.70M
YoY Change 10.76% -3.89%
Interest Expense $1.000M -$1.300M
YoY Change -176.92% -231.85%
% of Operating Profit 1.85% -2.67%
Other Income/Expense, Net
YoY Change
Pretax Income $53.37M $47.44M
YoY Change 12.49% -4.5%
Income Tax $11.00M $13.68M
% Of Pretax Income 20.6% 28.83%
Net Earnings $34.22M $26.18M
YoY Change 30.7% 2.52%
Net Earnings / Revenue 3.69% 3.0%
Basic Earnings Per Share $0.89 $0.71
Diluted Earnings Per Share $0.89 $0.71
COMMON SHARES
Basic Shares Outstanding 34.25M 32.64M shares
Diluted Shares Outstanding 34.32M 32.68M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.10M $47.40M
YoY Change 22.57% 44.07%
Cash & Equivalents $58.07M $47.42M
Short-Term Investments
Other Short-Term Assets $16.98M $19.98M
YoY Change -15.0% 6.29%
Inventory $810.0M $751.5M
Prepaid Expenses
Receivables $486.7M $481.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.372B $1.301B
YoY Change 5.48% 3.06%
LONG-TERM ASSETS
Property, Plant & Equipment $90.24M $90.53M
YoY Change -0.32% 46.34%
Goodwill $381.6M $380.2M
YoY Change 0.36% -0.28%
Intangibles $156.5M $158.3M
YoY Change -1.13% -4.76%
Long-Term Investments
YoY Change
Other Assets $76.23M $5.758M
YoY Change 1223.95% 2.44%
Total Long-Term Assets $704.6M $634.8M
YoY Change 10.99% 3.22%
TOTAL ASSETS
Total Short-Term Assets $1.372B $1.301B
Total Long-Term Assets $704.6M $634.8M
Total Assets $2.076B $1.935B
YoY Change 7.29% 3.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $245.4M $259.7M
YoY Change -5.52% 16.73%
Accrued Expenses $132.1M $117.4M
YoY Change 12.55% -5.77%
Deferred Revenue $6.260K
YoY Change
Short-Term Debt $0.00 $1.596M
YoY Change -100.0%
Long-Term Debt Due $200.0K $200.0K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $377.7M $378.9M
YoY Change -0.31% 9.11%
LONG-TERM LIABILITIES
Long-Term Debt $91.20M $280.6M
YoY Change -67.5% 17.72%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $91.20M $280.6M
YoY Change -67.5% 17.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $377.7M $378.9M
Total Long-Term Liabilities $91.20M $280.6M
Total Liabilities $783.6M $956.9M
YoY Change -18.11% 63.4%
SHAREHOLDERS EQUITY
Retained Earnings $581.9M $539.3M
YoY Change 7.9% 9.88%
Common Stock $814.7M $593.3M
YoY Change 37.32% -5.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $87.44M $114.4M
YoY Change -23.58% 0.0%
Treasury Stock Shares
Shareholders Equity $1.293B $978.3M
YoY Change
Total Liabilities & Shareholders Equity $2.076B $1.935B
YoY Change 7.29% 3.11%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $34.22M $26.18M
YoY Change 30.7% 2.52%
Depreciation, Depletion And Amortization $5.538M $5.365M
YoY Change 3.22% 8.23%
Cash From Operating Activities -$41.61M $34.30M
YoY Change -221.32% -18.14%
INVESTING ACTIVITIES
Capital Expenditures $3.494M $4.147M
YoY Change -15.75% 51.18%
Acquisitions
YoY Change
Other Investing Activities $100.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.432M -$4.100M
YoY Change -16.29% 51.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.958M $1.387M
YoY Change 113.27% -33.98%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.34M -38.90M
YoY Change -160.0% -6.49%
NET CHANGE
Cash From Operating Activities -41.61M 34.30M
Cash From Investing Activities -3.432M -4.100M
Cash From Financing Activities 23.34M -38.90M
Net Change In Cash -21.71M -8.700M
YoY Change 149.51% 262.5%
FREE CASH FLOW
Cash From Operating Activities -$41.61M $34.30M
Capital Expenditures $3.494M $4.147M
Free Cash Flow -$45.11M $30.15M
YoY Change -249.6% -22.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-42490000
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47421000
CY2017Q1 wso Convertible Class B Common Stock Outstanding
ConvertibleClassBCommonStockOutstanding
2709311 shares
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.50
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
581893000
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2076278000
CY2018Q1 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
57688000
CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-37569000
CY2018Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
245405000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1292714000
CY2018Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
91000000
CY2018Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
814711000
CY2018Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2363000
CY2018Q1 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
233000
CY2018Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
236000
CY2018Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1549626000
CY2018Q1 us-gaap Minority Interest
MinorityInterest
256912000
CY2018Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
91233000
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
377731000
CY2018Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6260
CY2018Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
132090000
CY2018Q1 us-gaap Assets Current
AssetsCurrent
1371724000
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
16979000
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90238000
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
58073000
CY2018Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
156530000
CY2018Q1 us-gaap Inventory Net
InventoryNet
810021000
CY2018Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
486651000
CY2018Q1 us-gaap Assets
Assets
2076278000
CY2018Q1 us-gaap Goodwill
Goodwill
381553000
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
76233000
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
87440000
CY2018Q1 wso Number Of Joint Ventures
NumberOfJointVentures
3 Entity
CY2018Q1 wso Convertible Class B Common Stock Outstanding
ConvertibleClassBCommonStockOutstanding
2599496 shares
CY2018Q1 wso Accrued Sales Returns
AccruedSalesReturns
11414
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
56010000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.50
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
594556000
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2046877000
CY2017Q4 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
57338000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-34221000
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
230476000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1297953000
CY2017Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
21800000
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
804008000
CY2017Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2344000
CY2017Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
285000
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
244000
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1550977000
CY2017Q4 us-gaap Minority Interest
MinorityInterest
253024000
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
22085000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
416477000
CY2017Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
13001
CY2017Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
185757000
CY2017Q4 us-gaap Assets Current
AssetsCurrent
1337397000
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
17454000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
91198000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
80496000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
161065000
CY2017Q4 us-gaap Inventory Net
InventoryNet
761314000
CY2017Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
478133000
CY2017Q4 us-gaap Assets
Assets
2046877000
CY2017Q4 us-gaap Goodwill
Goodwill
382729000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
74488000
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
87440000
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16067 shares
CY2017Q1 us-gaap Revenues
Revenues
872095000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4147000
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
6798000
CY2017Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
285000
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
65000
CY2017Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
34317000
CY2017Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
100399 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32679806 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32642612 shares
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
37194 shares
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
CY2017Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1953 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
13750 shares
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.71
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
872095000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
8000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
48699000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
26181000
CY2017Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
2584000
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
66101000
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5680000
CY2017Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
35444000
CY2017Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
27221000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
33768000
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
37383000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
13000
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2155000
CY2017Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1255000
CY2017Q1 us-gaap Gross Profit
GrossProfit
218556000
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-661000
CY2017Q1 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
42688000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-423000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-309000
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1676000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23061000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
23061000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
47444000
CY2017Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5365000
CY2017Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
150000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13676000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
63032000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4127000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-114000
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1387000
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
20000
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3027000
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3120000
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
1596000
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
169857000
CY2017Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
653539000
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7587000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-38929000
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
178000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
5000
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3120000
CY2017Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
45006000
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
401000
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8589000
CY2017Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
8223000
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
243000
CY2017Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-49000
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1102000
CY2017Q1 wso Non Cash Contribution To401 K Plan
NonCashContributionTo401KPlan
2428000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9228 shares
CY2018Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.25
CY2018Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2018Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018Q1 dei Document Type
DocumentType
10-Q
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
CY2018Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000105016
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-41614000
CY2018Q1 dei Trading Symbol
TradingSymbol
WSO
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34320110 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34254331 shares
CY2018Q1 dei Amendment Flag
AmendmentFlag
false
CY2018Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
91609 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
65779 shares
CY2018Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2018Q1 dei Document Period End Date
DocumentPeriodEndDate
2018-03-31
CY2018Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2018Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2047 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
35083 shares
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of condensed consolidated unaudited 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 condensed consolidated unaudited 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.</p> </div>
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.89
CY2018Q1 dei Entity Registrant Name
EntityRegistrantName
WATSCO INC
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3494000
CY2018Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2178000
CY2018Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
346000
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-278000
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
926577000
CY2018Q1 us-gaap Revenues
Revenues
926577000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
53937000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
34219000
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-890000
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
49937000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10059000
CY2018Q1 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
301000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
36636000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30570000
CY2018Q1 us-gaap Profit Loss
ProfitLoss
42377000
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
46581000
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6645000
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-565000
CY2018Q1 us-gaap Gross Profit
GrossProfit
230833000
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-431000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
207000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
151000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5741000
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30444000
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30444000
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1638000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
53372000
CY2018Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5538000
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-716000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10995000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-36649000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3432000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-2454000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
56000
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2958000
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
62000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3590000
CY2018Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3775000
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
178534000
CY2018Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
695744000
CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2178000
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8158000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
23339000
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-753000
CY2018Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3775000
CY2018Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
69200000
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
898000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-22423000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
6066000
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-1031000
CY2018Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-60000
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2612000
CY2018Q1 wso Non Cash Contribution To401 K Plan
NonCashContributionTo401KPlan
2945000

Files In Submission

Name View Source Status
0001193125-18-157322-index-headers.html Edgar Link pending
0001193125-18-157322-index.html Edgar Link pending
0001193125-18-157322.txt Edgar Link pending
0001193125-18-157322-xbrl.zip Edgar Link pending
d550442d10q.htm Edgar Link pending
d550442dex101.htm Edgar Link pending
d550442dex311.htm Edgar Link pending
d550442dex312.htm Edgar Link pending
d550442dex313.htm Edgar Link pending
d550442dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
g550442g0505081203994.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
wso-20180331.xml Edgar Link completed
wso-20180331.xsd Edgar Link pending
wso-20180331_cal.xml Edgar Link unprocessable
wso-20180331_def.xml Edgar Link unprocessable
wso-20180331_lab.xml Edgar Link unprocessable
wso-20180331_pre.xml Edgar Link unprocessable