10-Q Filing

AMETEK INC/ CIK: 1037868 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001037868-20-000011`
Period End Date	20200930
Filing Date	20201029
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	ame-20200930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 60 Cash Flow Statement 62 Stockholders Equity 22 Comprehensive Income 4

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$393.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$614.77M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$744.76M	USD	Point-in-time
Inventories, net	`InventoryNet`	$584.75M	USD	Point-in-time
Inventories, net	`InventoryNet`	$624.57M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$138.65M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$263.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.64B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.03B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$548.91M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$508.64M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$166.73M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$179.68M	USD	Point-in-time
Goodwill	`Goodwill`	$4.05B	USD	Point-in-time
Goodwill	`Goodwill`	$4.19B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.64B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.76B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$281.84M	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`	$10.43B	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`	$505.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$324.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$377.22M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$156.82M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$175.83M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$40.77M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$30.29M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$357.02M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$364.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.43B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.40B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.27B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.30B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$541.52M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$536.14M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$495.78M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$488.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.73B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.73B	USD	Point-in-time
Common stock	`CommonStockValue`	$2.66M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.67M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$832.82M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$890.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.91B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.39B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-533.64M	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`	$5.70B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.87B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.12B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.84B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.43B	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.13B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.28B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$3.85B	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$3.34B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$823.26M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$732.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.51B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$2.23B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$461.29M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$152.31M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$384.76M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$123.50M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.97B	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$2.61B	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$856.20M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$975.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$270.74M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$879.73M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$729.77M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$301.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.31M	USD	1 Quarter
Interest expense	`InterestExpense`	$65.44M	USD	3 Qtrs
Interest expense	`InterestExpense`	$66.60M	USD	3 Qtrs
Interest expense	`InterestExpense`	$21.19M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-5.52M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$142.43M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-12.52M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-1.48M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$805.60M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$248.07M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$801.77M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$274.23M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$53.48M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$161.25M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$154.19M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$43.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$220.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$651.41M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$640.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$204.58M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$2.82	USD	3 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$2.84	USD	3 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.88	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$2.82	USD	3 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$2.79	USD	3 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.58M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.25M	shares	3 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	228.04M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	227.49M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.46M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	229.56M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	229.19M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.90M	shares	3 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.42	USD	3 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`	$0.18	USD	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.54	USD	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$651.41M	USD	3 Qtrs
Net income	`ProfitLoss`	$640.52M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$169.94M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$190.40M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-4.53M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$13.40M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$10.82M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$29.88M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$13.56M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$29.00M	USD	3 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	3 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	$141.02M	USD	3 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$4.53M	USD	3 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$7.52M	USD	3 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-176.74M	USD	3 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$82.60M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$5.11M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$2.50M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-4.85M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-9.00M	USD	3 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$772.21M	USD	3 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$895.10M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$61.52M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.16M	USD	3 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$122.15M	USD	3 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$116.51M	USD	3 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$245.31M	USD	3 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	-	USD	3 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$9.51M	USD	3 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$8.26M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.06M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.46M	USD	3 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-173.35M	USD	3 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$98.69M	USD	3 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-258.21M	USD	3 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$110.00M	USD	3 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$100.00M	USD	3 Qtrs
Repayments of long-term borrowings	`RepaymentsOfLongTermDebt`	$102.95M	USD	3 Qtrs
Repayments of long-term borrowings	`RepaymentsOfLongTermDebt`	-	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.61M	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.57M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$123.69M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$95.50M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$39.88M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$59.65M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-7.25M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.39M	USD	3 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-207.93M	USD	3 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.72M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.74M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-9.54M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$381.40M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$911.81M	USD	3 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$735.38M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$353.98M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.30B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$393.03M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$735.38M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$353.98M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.30B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$393.03M	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`	$10.46M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$3.68M	USD	3 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-9.74M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-11.09M	USD	3 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$873.00K	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$2.62M	USD	3 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`	$1.59M	USD	3 Qtrs
Balance at the beginning of the year	`StockholdersEquity`	$5.70B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$4.87B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$5.12B	USD	Point-in-time
Net income	`NetIncomeLoss`	$220.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$651.41M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$640.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$204.58M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$5.70B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$4.87B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$5.12B	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$198.10M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$229.71M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$650.91M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$633.13M	USD	3 Qtrs

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