10-Q Filing

AMETEK INC/ CIK: 1037868 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001037868-23-000056`
Period End Date	20230930
Filing Date	20231031
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	ame-20230930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 60 Cash Flow Statement 58 Stockholders Equity 20 Comprehensive Income 4

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$345.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$841.90M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$936.80M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$919.34M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.04B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.09B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$252.41M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$219.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.12B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.53B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$631.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$635.64M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$170.29M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$165.45M	USD	Point-in-time
Goodwill	`Goodwill`	$5.37B	USD	Point-in-time
Goodwill	`Goodwill`	$5.48B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.28B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.34B	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$414.67M	USD	Point-in-time
Investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$382.48M	USD	Point-in-time
Total assets	`Assets`	$13.09B	USD	Point-in-time
Total assets	`Assets`	$12.43B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$304.48M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt, net	`DebtCurrent`	$226.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$497.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$486.58M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$357.67M	USD	Point-in-time
Customer advanced payments	`ContractWithCustomerLiabilityCurrent`	$362.99M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$61.80M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$48.17M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$457.87M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$435.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.67B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.56B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$1.86B	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`	$629.59M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$591.43M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$537.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.75B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.95B	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`	$1.15B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.66B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.86B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-567.61M	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`	$7.13B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.34B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.48B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.09B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.43B	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.62B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.52B	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.55B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.87B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.00B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.10B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$1.02B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.94B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$163.78M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$506.96M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$480.66M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$162.67M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$3.42B	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.17B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.18B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$3.60B	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$1.26B	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$384.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$438.13M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.10B	USD	3 Qtrs
Interest expense	`InterestExpense`	$18.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.25M	USD	1 Quarter
Interest expense	`InterestExpense`	$57.68M	USD	3 Qtrs
Interest expense	`InterestExpense`	$60.16M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$3.23M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$7.75M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-6.26M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-15.31M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$413.49M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$367.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.19B	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.05B	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$197.73M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$219.15M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$73.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$69.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$970.32M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$852.46M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$340.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$297.64M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.48	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$3.70	USD	3 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$4.21	USD	3 Qtrs
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$1.30	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$3.68	USD	3 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.29	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$4.19	USD	3 Qtrs
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$1.47	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.43M	shares	3 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.69M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.50M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	230.36M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.41M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.75M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.71M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.68M	shares	3 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.66	USD	3 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`	$0.75	USD	3 Qtrs
Dividends declared and paid per share (in usd per shares)	`CommonStockDividendsPerShareCashPaid`	$0.22	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$970.32M	USD	3 Qtrs
Net income	`ProfitLoss`	$852.46M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$230.97M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$245.71M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-32.89M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-67.53M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$34.59M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$35.77M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$12.91M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$12.06M	USD	1 Quarter
Gain on sale of business/investment	`GainLossOnSaleOfBusiness`	-	USD	3 Qtrs
Gain on sale of business/investment	`GainLossOnSaleOfBusiness`	$3.58M	USD	3 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	$7.05M	USD	3 Qtrs
Gain on sale of facilities	`GainLossOnSaleOfFacilities`	-	USD	3 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-27.27M	USD	3 Qtrs
Net change in assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$299.31M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$3.93M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$5.24M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$12.98M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$5.58M	USD	3 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.19B	USD	3 Qtrs
Total operating activities	`NetCashProvidedByUsedInOperatingActivities`	$764.36M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$76.51M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$80.83M	USD	3 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$246.66M	USD	3 Qtrs
Purchases of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$190.32M	USD	3 Qtrs
Proceeds from sale of business/investment	`ProceedsFromDivestitureOfBusinesses`	$3.73M	USD	3 Qtrs
Proceeds from sale of business/investment	`ProceedsFromDivestitureOfBusinesses`	-	USD	3 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	-	USD	3 Qtrs
Proceeds from sale of facilities	`ProceedsFromSaleOfFacilities`	$11.75M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$3.15M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-124.00K	USD	3 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-326.31M	USD	3 Qtrs
Total investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-255.54M	USD	3 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-26.32M	USD	3 Qtrs
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-220.56M	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.58M	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$331.42M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$151.63M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$172.69M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$23.24M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$40.12M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-15.06M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.07M	USD	3 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-364.77M	USD	3 Qtrs
Total financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-501.19M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-7.04M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-44.46M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$496.51M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-36.83M	USD	3 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$309.94M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$841.90M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$309.94M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$346.77M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$345.39M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$841.90M	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`	$-34.21M	USD	3 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-14.60M	USD	1 Quarter
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-1.00M	USD	3 Qtrs
Tax related to investment hedge instruments gain (loss)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-7.13M	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`	$977.00K	USD	3 Qtrs
Tax related to amortization of net actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$1.55M	USD	3 Qtrs
Balance at the beginning of the year	`StockholdersEquity`	$7.13B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$8.34B	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time
Net income	`NetIncomeLoss`	$970.32M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$852.46M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$340.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$297.64M	USD	1 Quarter
Balance at the end of the year	`StockholdersEquity`	$7.13B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$8.34B	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$7.48B	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$977.66M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$694.90M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$294.76M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$215.57M	USD	1 Quarter

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