10-Q Filing

AMETEK INC/ CIK: 1037868 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001037868-21-000035`
Period End Date	20210630
Filing Date	20210803
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	ame-20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 60 Cash Flow Statement 61 Stockholders Equity 22 Comprehensive Income 4

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.21B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$390.64M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$754.04M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$597.47M	USD	Point-in-time
Inventories, net	`InventoryNet`	$559.17M	USD	Point-in-time
Inventories, net	`InventoryNet`	$711.62M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$185.77M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$153.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.52B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.04B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$598.83M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$526.53M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$167.23M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$178.70M	USD	Point-in-time
Goodwill	`Goodwill`	$4.22B	USD	Point-in-time
Goodwill	`Goodwill`	$5.14B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$2.62B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.47B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$292.62M	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$322.16M	USD	Point-in-time
Total assets	`Assets`	$10.36B	USD	Point-in-time
Total assets	`Assets`	$11.76B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$132.28M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$700.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$446.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$360.37M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$294.07M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$194.63M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$38.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$24.38M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$349.73M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$392.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.86B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.08B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.26B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.28B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$730.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$533.48M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$562.12M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$517.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.41B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.41B	USD	Point-in-time
Common stock	`CommonStockValue`	$2.68M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.68M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$964.79M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$921.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.45B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.09B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-506.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-504.47M	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`	$5.95B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.34B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.49B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.36B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$11.76B	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.60B	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.39B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.21B	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.01B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$669.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$912.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.70B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.49B	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$261.27M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$115.74M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$157.02M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$290.03M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.99B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.76B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.07B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$784.93M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$226.99M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$459.03M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$609.96M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$316.61M	USD	1 Quarter
Interest expense	`InterestExpense`	$39.39M	USD	2 Qtrs
Interest expense	`InterestExpense`	$20.44M	USD	1 Quarter
Interest expense	`InterestExpense`	$45.41M	USD	2 Qtrs
Interest expense	`InterestExpense`	$22.67M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-4.41M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$143.91M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-6.36M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$2.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$291.75M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$557.53M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$564.21M	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`	$113.30M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$60.08M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$110.69M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$166.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$446.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$450.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$231.68M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.00	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`	$0.73	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.96	USD	2 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.94	USD	2 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.00	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`	$0.72	USD	1 Quarter
Basic shares	`WeightedAverageNumberOfSharesOutstandingBasic`	229.22M	shares	1 Quarter
Basic shares	`WeightedAverageNumberOfSharesOutstandingBasic`	230.63M	shares	2 Qtrs
Basic shares	`WeightedAverageNumberOfSharesOutstandingBasic`	229.09M	shares	2 Qtrs
Basic shares	`WeightedAverageNumberOfSharesOutstandingBasic`	230.83M	shares	1 Quarter
Diluted shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.63M	shares	2 Qtrs
Diluted shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	232.84M	shares	1 Quarter
Diluted shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.38M	shares	1 Quarter
Diluted shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	232.57M	shares	2 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.20	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
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$450.91M	USD	2 Qtrs
Net income	`ProfitLoss`	$446.83M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$139.81M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$127.40M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$27.48M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-2.98M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$19.05M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$23.59M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$11.21M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$12.15M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$141.00M	USD	Point-in-time
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`	-	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`	$58.50M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$4.09M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$3.21M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$1.60M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$7.77M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$571.44M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$585.37M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.02M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.01M	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$116.51M	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.84B	USD	2 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	-	USD	2 Qtrs
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$245.31M	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$5.46M	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	-	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$292.00K	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.46M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$104.79M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.88B	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-374.77M	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$569.95M	USD	2 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$500.00M	USD	2 Qtrs
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.50M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$12.88M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$92.17M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$82.40M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$31.11M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$20.68M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.42M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.61M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$56.40M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$491.60M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.08M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-8.61M	USD	2 Qtrs
(Decrease) Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$737.95M	USD	2 Qtrs
(Decrease) Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-822.18M	USD	2 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.21B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$390.64M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.13B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$393.03M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.21B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$390.64M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.13B	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`	$2.34M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-4.48M	USD	2 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$1.46M	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`	$531.00K	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$1.05M	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`	$527.00K	USD	1 Quarter
Balance at the beginning of the year	`StockholdersEquity`	$5.95B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$6.34B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$5.49B	USD	Point-in-time
Net income	`NetIncomeLoss`	$166.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$446.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$450.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$231.68M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$5.95B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$6.34B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$5.49B	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$421.19M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$448.50M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$237.67M	USD	1 Quarter
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.