$WTS
Watts Water Technologies Inc

2011 Q3 Form 10-Q Financial Statement

#000110465912056564 Filed on August 09, 2012

View on sec.gov

Income Statement

Concept 2011 Q3
Revenue $367.5M
YoY Change 13.43%
Cost Of Revenue $245.4M
YoY Change 20.65%
Gross Profit $134.5M
YoY Change 11.53%
Gross Profit Margin 36.6%
Selling, General & Admin $98.20M
YoY Change 22.29%
% of Gross Profit 73.01%
Research & Development $5.700M
YoY Change 26.67%
% of Gross Profit 4.24%
Depreciation & Amortization $14.10M
YoY Change 29.36%
% of Gross Profit 10.48%
Operating Expenses $103.9M
YoY Change 22.52%
Operating Profit $26.60M
YoY Change -25.7%
Interest Expense $6.700M
YoY Change -231.37%
% of Operating Profit 25.19%
Other Income/Expense, Net -$7.100M
YoY Change -1283.33%
Pretax Income $19.50M
YoY Change -32.29%
Income Tax $6.600M
% Of Pretax Income 33.85%
Net Earnings $14.60M
YoY Change -33.94%
Net Earnings / Revenue 3.97%
Basic Earnings Per Share $0.63
Diluted Earnings Per Share $0.63
COMMON SHARES
Basic Shares Outstanding 37.60M shares
Diluted Shares Outstanding 37.80M shares

Balance Sheet

Concept 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $270.8M
YoY Change 4.68%
Cash & Equivalents $266.7M
Short-Term Investments $4.100M
Other Short-Term Assets $81.30M
YoY Change -11.63%
Inventory $316.9M
Prepaid Expenses
Receivables $238.0M
Other Receivables $0.00
Total Short-Term Assets $907.0M
YoY Change 10.56%
LONG-TERM ASSETS
Property, Plant & Equipment $252.2M
YoY Change 30.34%
Goodwill $514.7M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.40M
YoY Change -32.14%
Total Long-Term Assets $973.4M
YoY Change 25.5%
TOTAL ASSETS
Total Short-Term Assets $907.0M
Total Long-Term Assets $973.4M
Total Assets $1.880B
YoY Change 17.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.1M
YoY Change 24.1%
Accrued Expenses $166.9M
YoY Change 2.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.500M
YoY Change 114.29%
Total Short-Term Liabilities $313.4M
YoY Change 10.82%
LONG-TERM LIABILITIES
Long-Term Debt $474.4M
YoY Change 25.47%
Other Long-Term Liabilities $51.50M
YoY Change 3.83%
Total Long-Term Liabilities $525.9M
YoY Change 22.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $313.4M
Total Long-Term Liabilities $525.9M
Total Liabilities $901.9M
YoY Change 19.89%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $978.5M
YoY Change
Total Liabilities & Shareholders Equity $1.880B
YoY Change 17.82%

Cashflow Statement

Concept 2011 Q3
OPERATING ACTIVITIES
Net Income $14.60M
YoY Change -33.94%
Depreciation, Depletion And Amortization $14.10M
YoY Change 29.36%
Cash From Operating Activities $20.00M
YoY Change -28.57%
INVESTING ACTIVITIES
Capital Expenditures $5.400M
YoY Change -203.85%
Acquisitions
YoY Change
Other Investing Activities -$161.8M
YoY Change 388.82%
Cash From Investing Activities -$167.2M
YoY Change 336.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.60M
YoY Change -164.95%
NET CHANGE
Cash From Operating Activities 20.00M
Cash From Investing Activities -167.2M
Cash From Financing Activities -12.60M
Net Change In Cash -159.8M
YoY Change -1856.04%
FREE CASH FLOW
Cash From Operating Activities $20.00M
Capital Expenditures $5.400M
Free Cash Flow $14.60M
YoY Change -56.02%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Registrant Name
EntityRegistrantName
WATTS WATER TECHNOLOGIES INC
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
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dei Document Period End Date
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Current Reporting Status
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dei Entity Filer Category
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us-gaap Use Of Estimates
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><i><font style="FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Estimates</font></i></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p></td></tr></table>
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GoodwillTranslationAdjustmentsAndOtherChanges
17400000 USD
CY2011Q3 us-gaap Goodwill Gross
GoodwillGross
536700000 USD
CY2010Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
22000000 USD
CY2011Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
22000000 USD
CY2011Q3 us-gaap Goodwill
Goodwill
514700000 USD
CY2011Q4 us-gaap Goodwill Gross
GoodwillGross
513600000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
13100000 USD
wts Goodwill Translation Adjustments And Other Changes
GoodwillTranslationAdjustmentsAndOtherChanges
-13000000 USD
CY2012Q3 us-gaap Goodwill Gross
GoodwillGross
513700000 USD
CY2012Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
23200000 USD
CY2012Q3 us-gaap Goodwill
Goodwill
490500000 USD
CY2012Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
198100000 USD
CY2012Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
90100000 USD
CY2012Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
108000000 USD
CY2012Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
41500000 USD
CY2012Q3 wts Intangible Assets Excluding Goodwill Gross
IntangibleAssetsExcludingGoodwillGross
239600000 USD
CY2012Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
149500000 USD
CY2012Q3 us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
4200000 USD
CY2011Q3 us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
5300000 USD
us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
8400000 USD
us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
9300000 USD
us-gaap Future Amortization Expense Remainder Of Fiscal Year
FutureAmortizationExpenseRemainderOfFiscalYear
7600000 USD
wts Future Amortization Expense First Full Fiscal Year
FutureAmortizationExpenseFirstFullFiscalYear
15000000 USD
wts Future Amortization Expense Second Full Fiscal Year
FutureAmortizationExpenseSecondFullFiscalYear
14800000 USD
wts Future Amortization Expense Third Full Fiscal Year
FutureAmortizationExpenseThirdFullFiscalYear
14500000 USD
wts Future Amortization Expense Fourth Full Fiscal Year
FutureAmortizationExpenseFourthFullFiscalYear
14100000 USD
us-gaap Finite Lived Intangible Assets Weighted Average Useful Life
FiniteLivedIntangibleAssetsWeightedAverageUsefulLife
10.0
wts Share Based Compensation Arrangement By Share Based Payment Award Plan Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanNumber
3 plan
CY2012Q3 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
8900000 USD
CY2011Q3 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
9900000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
18800000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
18700000 USD
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5300000 USD
CY2011Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5700000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10700000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10700000 USD
wts Short Term Investment Securities Certificates Of Deposit Maturity Period Minimum
ShortTermInvestmentSecuritiesCertificatesOfDepositMaturityPeriodMinimum
3
wts Cash Equivalents Maturity Period Maximum
CashEquivalentsMaturityPeriodMaximum
3
wts Percentage Of Projected Intercompany Purchase Transactions Hedged For Next Twelve Months By Forward Exchange Contracts
PercentageOfProjectedIntercompanyPurchaseTransactionsHedgedForNextTwelveMonthsByForwardExchangeContracts
0.50 pure
wts Maximum Length Of Time Hedged In Foreign Currency Contract
MaximumLengthOfTimeHedgedInForeignCurrencyContract
12
CY2012Q3 us-gaap Notional Amount Of Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
NotionalAmountOfForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
2000000 USD
CY2012Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
385100000 USD
CY2011Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
399400000 USD
CY2012Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
422700000 USD
CY2011Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
440500000 USD
CY2012Q3 wts Restructuring Settlement And Impairment Provisions Total Gross
RestructuringSettlementAndImpairmentProvisionsTotalGross
1100000 USD
CY2011Q3 wts Restructuring Settlement And Impairment Provisions Total Gross
RestructuringSettlementAndImpairmentProvisionsTotalGross
5200000 USD
wts Restructuring Settlement And Impairment Provisions Total Gross
RestructuringSettlementAndImpairmentProvisionsTotalGross
2300000 USD
wts Restructuring Settlement And Impairment Provisions Total Gross
RestructuringSettlementAndImpairmentProvisionsTotalGross
6300000 USD
CY2012Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
100000 USD
CY2011Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
300000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
600000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
300000 USD
CY2012Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1200000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
2900000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34200000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
18500000 USD
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14600000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34200000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
25700000 USD
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36800000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36700000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2012Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2000000 shares
CY2012Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1900000 shares
CY2012Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
63200000 USD
wts Number Of Product Categories
NumberOfProductCategories
4 product
wts Geographic Segments Number
GeographicSegmentsNumber
3 segment
us-gaap Sales Revenue Net
SalesRevenueNet
735300000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
371100000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
33700000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
200000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
400000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
6100000 USD
us-gaap Interest Expense
InterestExpense
12300000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
900000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
27800000 USD
CY2012Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4700000 USD
CY2011Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9600000 USD
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
12500000 USD
CY2011Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14100000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25100000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25400000 USD
CY2011Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
252200000 USD
CY2011Q3 us-gaap Assets
Assets
1880400000 USD
CY2012Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
38500000 USD
CY2011Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
40300000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
73600000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
73800000 USD
CY2011Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1500000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3000000 USD
CY2011Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1800000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3600000 USD
CY2011Q3 wts Defined Benefit Plan Amortization Of Prior Service Cost Credit And Actuarial Gains Losses
DefinedBenefitPlanAmortizationOfPriorServiceCostCreditAndActuarialGainsLosses
800000 USD
wts Defined Benefit Plan Amortization Of Prior Service Cost Credit And Actuarial Gains Losses
DefinedBenefitPlanAmortizationOfPriorServiceCostCreditAndActuarialGainsLosses
1600000 USD
CY2011Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1800000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3600000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
400000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
5100000 USD
CY2012Q3 us-gaap Defined Benefit Plan Estimated Future Employer Contributions In Next Fiscal Year
DefinedBenefitPlanEstimatedFutureEmployerContributionsInNextFiscalYear
300000 USD

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