10-Q Filing

AMETEK INC/ CIK: 1037868 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001037868-20-000006`
Period End Date	20200630
Filing Date	20200804
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	ame-20200630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 60 Cash Flow Statement 60 Stockholders Equity 22 Comprehensive Income 4

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$567.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$393.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$353.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$744.76M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$620.16M	USD	Point-in-time
Inventories, net	`InventoryNet`	$621.52M	USD	Point-in-time
Inventories, net	`InventoryNet`	$624.57M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$144.48M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$263.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.03B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.52B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$548.91M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$516.58M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$179.68M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$164.22M	USD	Point-in-time
Goodwill	`Goodwill`	$4.05B	USD	Point-in-time
Goodwill	`Goodwill`	$4.16B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.76B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.67B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$289.79M	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$279.79M	USD	Point-in-time
Total assets	`Assets`	$9.84B	USD	Point-in-time
Total assets	`Assets`	$10.31B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$497.45M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$115.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$337.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$377.22M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$180.61M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$156.82M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$37.94M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$30.29M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$364.08M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$345.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.43B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.02B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.27B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.75B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$556.42M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$536.14M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$497.61M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$495.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.82B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.73B	USD	Point-in-time
Common stock	`CommonStockValue`	$2.67M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.66M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$860.77M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$832.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.75B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.39B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-558.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-533.14M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.57B	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.57B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.49B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.12B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.67B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.31B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.84B	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$2.58B	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.01B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$2.21B	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.29B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$669.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$838.15M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.49B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.69B	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$115.74M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$261.27M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$155.85M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$308.97M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$2.00B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.76B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$994.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$784.93M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$295.41M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$578.67M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$459.03M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$226.99M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.48M	USD	1 Quarter
Interest expense	`InterestExpense`	$45.41M	USD	2 Qtrs
Interest expense	`InterestExpense`	$44.13M	USD	2 Qtrs
Interest expense	`InterestExpense`	$22.67M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.34M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$143.91M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-7.00M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$2.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$270.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$557.53M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$527.54M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$206.45M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$40.23M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$110.69M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$107.77M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$55.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$215.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$419.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$446.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$166.22M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.95	USD	2 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.85	USD	2 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.95	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.72	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.94	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.94	USD	2 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.83	USD	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.22M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	227.58M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	227.22M	shares	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.09M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.63M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	229.01M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.38M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	229.33M	shares	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	2 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.14	USD	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.36	USD	2 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.18	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$446.83M	USD	2 Qtrs
Net income	`ProfitLoss`	$419.77M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$114.67M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$127.40M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$7.35M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-2.98M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$15.45M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$19.05M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$11.21M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$8.32M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$141.02M	USD	2 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	2 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$735.00K	USD	2 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$4.59M	USD	2 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-145.47M	USD	2 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$110.69M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$1.53M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$3.21M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$1.60M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$1.70M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$585.37M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$442.58M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.02M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.28M	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$116.51M	USD	2 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$245.31M	USD	2 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	-	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$5.46M	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$765.00K	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.90M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.46M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.61M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$104.79M	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-374.77M	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-260.80M	USD	2 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$500.00M	USD	2 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$100.00M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.32M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.50M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$63.62M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$82.40M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$45.83M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$20.68M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.61M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.61M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$56.40M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-191.52M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.49M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.61M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$213.94M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$737.95M	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$567.91M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$393.03M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$353.98M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$567.91M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$393.03M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$353.98M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$2.34M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-1.35M	USD	2 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-220.00K	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-6.78M	USD	2 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$1.06M	USD	2 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$531.00K	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$1.75M	USD	2 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$873.00K	USD	1 Quarter
Balance at the beginning of the year	`StockholdersEquity`	$5.49B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$5.12B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$4.67B	USD	Point-in-time
Net income	`NetIncomeLoss`	$215.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$419.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$446.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$166.22M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$5.49B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$5.12B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$4.67B	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$435.03M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$219.75M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$421.19M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$183.18M	USD	1 Quarter

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