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10-Q Filing

IDEXX LABORATORIES INC /DE CIK: 874716 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000874716-17-000007
Period End Date 20170331
Filing Date 20170428
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance c716-20170331.xml
Filing Contents
Balance Sheet 81 line items
Line Item Tag Value Unit Period
Accounts receivable, reserves AllowanceForDoubtfulAccountsReceivableCurrent $4.52M USD Point-in-time
Accounts receivable, reserves AllowanceForDoubtfulAccountsReceivableCurrent $4.91M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 120.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 120.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $128.99M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $160.41M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $154.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $132.95M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 103.74M shares Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $236.95M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 103.34M shares Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $239.93M USD Point-in-time
Accounts receivable, net of reserves of $4,909 in 2017 and $4,523 in 2016 AccountsReceivableNetCurrent $225.35M USD Point-in-time
Deferred stock units, outstanding CommonStockOtherSharesOutstanding 231,000.00 shares Point-in-time
Accounts receivable, net of reserves of $4,909 in 2017 and $4,523 in 2016 AccountsReceivableNetCurrent $204.49M USD Point-in-time
Treasury stock, shares TreasuryStockShares 15.37M shares Point-in-time
Inventories InventoryNet $172.18M USD Point-in-time
Inventories InventoryNet $158.03M USD Point-in-time
Treasury stock, shares TreasuryStockShares 15.81M shares Point-in-time
Other current assets OtherAssetsCurrent $91.21M USD Point-in-time
Other current assets OtherAssetsCurrent $80.71M USD Point-in-time
Total current assets AssetsCurrent $845.58M USD Point-in-time
Total current assets AssetsCurrent $878.59M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $357.42M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $361.23M USD Point-in-time
Goodwill Goodwill $178.23M USD Point-in-time
Goodwill Goodwill $180.60M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $46.16M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $45.69M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $105.98M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $103.31M USD Point-in-time
Total long-term assets AssetsNoncurrent $685.12M USD Point-in-time
Total long-term assets AssetsNoncurrent $693.50M USD Point-in-time
TOTAL ASSETS Assets $1.53B USD Point-in-time
TOTAL ASSETS Assets $1.57B USD Point-in-time
Accounts payable AccountsPayableCurrent $62.25M USD Point-in-time
Accounts payable AccountsPayableCurrent $60.06M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $236.13M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $174.76M USD Point-in-time
Line of credit LinesOfCreditCurrent $611.00M USD Point-in-time
Line of credit LinesOfCreditCurrent $671.00M USD Point-in-time
Current portion of deferred revenue DeferredRevenueCurrent $27.38M USD Point-in-time
Current portion of deferred revenue DeferredRevenueCurrent $28.07M USD Point-in-time
Total current liabilities LiabilitiesCurrent $934.57M USD Point-in-time
Total current liabilities LiabilitiesCurrent $936.08M USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $39.96M USD Point-in-time
Deferred income tax liabilities DeferredTaxLiabilitiesNoncurrent $39.29M USD Point-in-time
Long-term debt SecuredLongTermDebt $594.87M USD Point-in-time
Long-term debt SecuredLongTermDebt $593.11M USD Point-in-time
Long-term deferred revenue, net of current portion DeferredRevenueNoncurrent $33.02M USD Point-in-time
Long-term deferred revenue, net of current portion DeferredRevenueNoncurrent $33.07M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $38.94M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $42.02M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $704.35M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $709.93M USD Point-in-time
Total liabilities Liabilities $1.65B USD Point-in-time
Total liabilities Liabilities $1.64B USD Point-in-time
Commitments and Contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.10 par value: Authorized: 120,000 shares; Issued: 103,740 shares in 2017 and 103,341 shares in 2016 CommonStockValue $10.33M USD Point-in-time
Common stock, $0.10 par value: Authorized: 120,000 shares; Issued: 103,740 shares in 2017 and 103,341 shares in 2016 CommonStockValue $10.37M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.03B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.01B USD Point-in-time
Deferred stock units: Outstanding: 225 units in 2017 and 231 units in 2016 CommonStockOtherValueOutstanding $5.55M USD Point-in-time
Deferred stock units: Outstanding: 225 units in 2017 and 231 units in 2016 CommonStockOtherValueOutstanding $5.51M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $540.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $609.42M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-38.38M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-43.05M USD Point-in-time
Treasury stock, at cost: 15,807 shares in 2017 and 15,367 shares in 2016 TreasuryStockValue $1.69B USD Point-in-time
Treasury stock, at cost: 15,807 shares in 2017 and 15,367 shares in 2016 TreasuryStockValue $1.63B USD Point-in-time
Total IDEXX Laboratories, Inc. stockholders deficit StockholdersEquity $-74.09M USD Point-in-time
Total IDEXX Laboratories, Inc. stockholders deficit StockholdersEquity $-108.35M USD Point-in-time
Noncontrolling interest MinorityInterest $139.00K USD Point-in-time
Noncontrolling interest MinorityInterest $178.00K USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-73.91M USD Point-in-time
Total stockholders deficit StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-108.21M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT LiabilitiesAndStockholdersEquity $1.57B USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT LiabilitiesAndStockholdersEquity $1.53B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Product revenue SalesRevenueGoodsNet $249.06M USD 1 Quarter
Product revenue SalesRevenueGoodsNet $271.96M USD 1 Quarter
Service revenue SalesRevenueServicesNet $190.06M USD 1 Quarter
Service revenue SalesRevenueServicesNet $168.49M USD 1 Quarter
Total revenue SalesRevenueNet $462.02M USD 1 Quarter
Total revenue SalesRevenueNet $417.55M USD 1 Quarter
Cost of product revenue CostOfGoodsSold $97.63M USD 1 Quarter
Cost of product revenue CostOfGoodsSold $103.03M USD 1 Quarter
Cost of service revenue CostOfServices $92.38M USD 1 Quarter
Cost of service revenue CostOfServices $100.80M USD 1 Quarter
Total cost of revenue CostOfRevenue $203.83M USD 1 Quarter
Total cost of revenue CostOfRevenue $190.01M USD 1 Quarter
Gross profit GrossProfit $258.19M USD 1 Quarter
Gross profit GrossProfit $227.54M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $79.83M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $87.24M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $49.30M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $52.91M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $25.79M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $24.62M USD 1 Quarter
Income from operations OperatingIncomeLoss $73.79M USD 1 Quarter
Income from operations OperatingIncomeLoss $92.24M USD 1 Quarter
Interest expense InterestExpense $8.59M USD 1 Quarter
Interest expense InterestExpense $8.30M USD 1 Quarter
Interest income InterestAndOtherIncome $820.00K USD 1 Quarter
Interest income InterestAndOtherIncome $1.08M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $84.74M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $66.31M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $20.28M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $15.68M USD 1 Quarter
Net income ProfitLoss $69.06M USD 1 Quarter
Net income ProfitLoss $46.02M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $39.00K USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $6.00K USD 1 Quarter
Net income attributable to IDEXX Laboratories, Inc. stockholders NetIncomeLoss $46.02M USD 1 Quarter
Net income attributable to IDEXX Laboratories, Inc. stockholders NetIncomeLoss $69.02M USD 1 Quarter
Basic EarningsPerShareBasic $0.78 USD 1 Quarter
Basic EarningsPerShareBasic $0.51 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.77 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.51 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 88.12M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 89.92M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 90.84M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 89.99M shares 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $69.06M USD 1 Quarter
Net income ProfitLoss $46.02M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $18.55M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $20.31M USD 1 Quarter
Impairment charge ImpairmentOfLongLivedAssetsToBeDisposedOf $1.11M USD 1 Quarter
Benefit of deferred income taxes DeferredIncomeTaxExpenseBenefit $1.94M USD 1 Quarter
Benefit of deferred income taxes DeferredIncomeTaxExpenseBenefit $2.52M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $4.92M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $5.66M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $860.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $586.00K USD 1 Quarter
Tax benefit from share-based compensation arrangements (Note 2) ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $2.06M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $21.50M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $19.43M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-1.76M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.37M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $38.53M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $23.75M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-1.80M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-3.69M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $637.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $469.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $31.27M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $26.99M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $21.91M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $23.65M USD 1 Quarter
Purchase of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $72.08M USD 1 Quarter
Purchase of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $90.49M USD 1 Quarter
Proceeds from the sale and maturities of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $87.48M USD 1 Quarter
Proceeds from the sale and maturities of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $70.19M USD 1 Quarter
Acquisitions of a business, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $2.35M USD 1 Quarter
Net cash used by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-23.80M USD 1 Quarter
Net cash used by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-29.01M USD 1 Quarter
Borrowings on revolving credit facilities, net ProceedsFromRepaymentsOfOtherDebt $49.00M USD 1 Quarter
Borrowings on revolving credit facilities, net ProceedsFromRepaymentsOfOtherDebt $60.00M USD 1 Quarter
Debt issue costs PaymentsOfDebtIssuanceCosts $57.00K USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $63.91M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $53.48M USD 1 Quarter
Proceeds from exercises of stock options and employee stock purchase plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $12.53M USD 1 Quarter
Proceeds from exercises of stock options and employee stock purchase plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $5.76M USD 1 Quarter
Payment of acquisition-related contingent consideration PaymentsOfMergerRelatedCostsFinancingActivities $2.08M USD 1 Quarter
Shares withheld for statutory tax withholding on restricted stock (Note 2) PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.76M USD 1 Quarter
Shares withheld for statutory tax withholding on restricted stock (Note 2) PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.30M USD 1 Quarter
Tax benefit from share-based compensation arrangements (Note 2) ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $2.06M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $1.31M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-2.56M USD 1 Quarter
Net effect of changes in exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $1.93M USD 1 Quarter
Net effect of changes in exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $3.33M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $5.51M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $3.96M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $128.99M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $160.41M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $154.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $132.95M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $128.99M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $160.41M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $154.90M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $132.95M USD Point-in-time
Comprehensive Income 28 line items
Line Item Tag Value Unit Period
Unrealized (loss) gain on investments, tax (benefit) expense OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $-26.00K USD 1 Quarter
Net income ProfitLoss $69.06M USD 1 Quarter
Unrealized (loss) gain on investments, tax (benefit) expense OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $70.00K USD 1 Quarter
Net income ProfitLoss $46.02M USD 1 Quarter
Unrealized loss, net of tax benefit OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $912.00K USD 1 Quarter
Unrealized loss, net of tax benefit OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $1.44M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $8.01M USD 1 Quarter
Reclassification adjustment for gains included in net income, tax expense OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $170.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $6.02M USD 1 Quarter
Reclassification adjustment for gains included in net income, tax expense OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $401.00K USD 1 Quarter
Unrealized (loss) gain on net investment hedge TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax $-1.09M USD 1 Quarter
Unrealized (loss) gain on net investment hedge TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax $2.22M USD 1 Quarter
Unrealized (loss) gain on investments, net of tax (benefit) expense of ($26) in 2017 and $70 in 2016 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $205.00K USD 1 Quarter
Unrealized (loss) gain on investments, net of tax (benefit) expense of ($26) in 2017 and $70 in 2016 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-39.00K USD 1 Quarter
Unrealized loss, net of tax benefit of $912 in 2017 and $1,443 in 2016 OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-3.27M USD 1 Quarter
Unrealized loss, net of tax benefit of $912 in 2017 and $1,443 in 2016 OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-1.53M USD 1 Quarter
Less: reclassification adjustment for gains included in net income, net of tax expense of $401 in 2017 and $170 in 2016 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $429.00K USD 1 Quarter
Less: reclassification adjustment for gains included in net income, net of tax expense of $401 in 2017 and $170 in 2016 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $674.00K USD 1 Quarter
Unrealized loss on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-3.69M USD 1 Quarter
Unrealized loss on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.21M USD 1 Quarter
Other comprehensive gain, net of tax OtherComprehensiveIncomeLossNetOfTax $4.75M USD 1 Quarter
Other comprehensive gain, net of tax OtherComprehensiveIncomeLossNetOfTax $4.67M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $73.73M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $50.77M USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $39.00K USD 1 Quarter
Less: comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $6.00K USD 1 Quarter
Comprehensive income attributable to IDEXX Laboratories, Inc. ComprehensiveIncomeNetOfTax $50.77M USD 1 Quarter
Comprehensive income attributable to IDEXX Laboratories, Inc. ComprehensiveIncomeNetOfTax $73.69M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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