10-Q Filing

AMETEK INC/ CIK: 1037868 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001037868-23-000032`
Period End Date	20230331
Filing Date	20230502
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	ame-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 14 Comprehensive Income 2

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$399.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$345.39M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$919.34M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$901.51M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.04B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.12B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$219.05M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$247.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.67B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.53B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$637.67M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$635.64M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$166.99M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$170.29M	USD	Point-in-time
Goodwill	`Goodwill`	$5.37B	USD	Point-in-time
Goodwill	`Goodwill`	$5.43B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.34B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.32B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$382.48M	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$393.81M	USD	Point-in-time
Total assets	`Assets`	$12.43B	USD	Point-in-time
Total assets	`Assets`	$12.62B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$226.08M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$70.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$526.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$497.13M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$357.67M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$377.86M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$107.13M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$48.17M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$371.60M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$435.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.45B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.56B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.16B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.18B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$694.27M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$670.26M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$537.21M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$560.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.95B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.86B	USD	Point-in-time
Common stock	`CommonStockValue`	$2.70M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.70M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$1.09B	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$1.09B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.86B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.11B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-548.45M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-574.95M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.90B	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.90B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.93B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.76B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.48B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.62B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.43B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.46B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.60B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.02B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$948.83M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$169.05M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$156.45M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.19B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.11B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$353.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$405.54M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.57M	USD	1 Quarter
Interest expense	`InterestExpense`	$19.57M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$2.55M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-5.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$336.22M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$379.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$63.77M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$73.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$272.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$305.71M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.18	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.33	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.32	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.17	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.13M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	231.48M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.23M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	233.06M	shares	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.22	USD	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.25	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$305.71M	USD	1 Quarter
Net income	`ProfitLoss`	$272.45M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$82.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$78.12M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-497.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-17.59M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$10.28M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$9.57M	USD	1 Quarter
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$7.05M	USD	1 Quarter
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	-	USD	1 Quarter
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$138.90M	USD	1 Quarter
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-4.88M	USD	1 Quarter
Pension contributions	`PensionContributions`	$1.42M	USD	1 Quarter
Pension contributions	`PensionContributions`	$2.14M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$10.21M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-2.29M	USD	1 Quarter
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$201.34M	USD	1 Quarter
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$386.54M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.39M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.01M	USD	1 Quarter
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$99.27M	USD	1 Quarter
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$11.75M	USD	1 Quarter
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	-	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.89M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$246.00K	USD	1 Quarter
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-122.16M	USD	1 Quarter
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.88M	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$19.98M	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-155.50M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$156.72M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.50M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$57.49M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$50.78M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$10.42M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$8.26M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.18M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.89M	USD	1 Quarter
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-187.44M	USD	1 Quarter
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-214.97M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-5.49M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.08M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$54.49M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.47M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$399.87M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$340.30M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$399.87M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$340.30M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
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)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$3.81M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-5.83M	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$518.00K	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$326.00K	USD	1 Quarter
Balance at the beginning of the year	`StockholdersEquity`	$6.93B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$7.76B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time
Net income	`NetIncomeLoss`	$272.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$305.71M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$6.93B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$7.76B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$332.21M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$257.30M	USD	1 Quarter

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