10-Q Filing

AMETEK INC/ CIK: 1037868 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001037868-23-000049`
Period End Date	20230630
Filing Date	20230801
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	ame-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 60 Cash Flow Statement 54 Stockholders Equity 20 Comprehensive Income 4

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$605.59M	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`	$936.91M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.04B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.11B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$249.24M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$219.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.53B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.90B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$635.64M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$637.54M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$170.29M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$171.62M	USD	Point-in-time
Goodwill	`Goodwill`	$5.37B	USD	Point-in-time
Goodwill	`Goodwill`	$5.45B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.34B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.28B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$382.48M	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$402.28M	USD	Point-in-time
Total assets	`Assets`	$12.43B	USD	Point-in-time
Total assets	`Assets`	$12.84B	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`	$5.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$497.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$487.66M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$382.61M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$357.67M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$48.17M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$48.18M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$417.34M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$435.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.34B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.56B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.19B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.16B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$694.27M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$652.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$578.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$537.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.95B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.76B	USD	Point-in-time
Common stock	`CommonStockValue`	$2.71M	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`	$1.12B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.37B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.86B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-522.00M	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`	$8.08B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.48B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.95B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.43B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.84B	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.65B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.97B	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.51B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.24B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$988.17M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.94B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$2.08B	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.05B	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$174.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$343.18M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$317.99M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$161.53M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.23B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.42B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.15B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.25B	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$718.08M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$824.33M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$418.79M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$364.84M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.35M	USD	1 Quarter
Interest expense	`InterestExpense`	$39.29M	USD	2 Qtrs
Interest expense	`InterestExpense`	$18.72M	USD	1 Quarter
Interest expense	`InterestExpense`	$39.92M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-9.06M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$1.97M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-3.68M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$4.53M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$346.46M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$396.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$775.98M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$682.69M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$72.14M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$64.09M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$146.03M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$127.87M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$282.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$629.95M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$554.82M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$324.24M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.23	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$2.74	USD	2 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.41	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$2.40	USD	2 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.40	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$2.39	USD	2 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.22	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$2.72	USD	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.48M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.79M	shares	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.30M	shares	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.10M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	232.16M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.25M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.26M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.25M	shares	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.50	USD	2 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.44	USD	2 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.25	USD	1 Quarter
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.22	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$554.82M	USD	2 Qtrs
Net income	`ProfitLoss`	$629.95M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$155.22M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$163.94M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-38.14M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-19.46M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$12.96M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$22.86M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$12.58M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$22.53M	USD	2 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	-	USD	2 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$7.05M	USD	2 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$51.63M	USD	2 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$245.96M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$2.88M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$3.88M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$2.31M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$18.97M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$437.24M	USD	2 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$721.78M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.84M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.54M	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$99.27M	USD	2 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	-	USD	2 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$11.75M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$247.00K	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.89M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.03M	USD	2 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-149.99M	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-219.61M	USD	2 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$56.49M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.52M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$331.38M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$101.20M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$115.07M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$29.05M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$17.83M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-12.13M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.94M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-317.09M	USD	2 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-370.39M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-23.93M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.50M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$260.20M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.88M	USD	2 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.65M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$605.59M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.65M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$605.59M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time

Stockholders Equity 20 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`	$-19.61M	USD	2 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$6.12M	USD	2 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$2.32M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-13.78M	USD	1 Quarter
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$326.00K	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`	$652.00K	USD	2 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$1.04M	USD	2 Qtrs
Balance at the beginning of the year	`StockholdersEquity`	$8.08B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$6.95B	USD	Point-in-time
Net income	`NetIncomeLoss`	$282.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$629.95M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$554.82M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$324.24M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$8.08B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$6.95B	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$350.69M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$682.90M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$222.03M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$479.33M	USD	2 Qtrs

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