10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-006696`
Period End Date	20161231
Filing Date	20170208
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ese-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 24 Cash Flow Statement 48 Comprehensive Income 10

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$31.13M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$33.85M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$84.45M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$89.21M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$56.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$60.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.41M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$41.76M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$121.49M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$35.27M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$127.23M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $33,851 and $31,129, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$28.75M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $33,851 and $31,129, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$25.16M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$105.54M	USD	Point-in-time
Inventories	`InventoryNet`	$116.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.88M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.67M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$332.72M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$323.48M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.36M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $89,209 and $84,454, respectively	`PropertyPlantAndEquipmentNet`	$92.41M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $89,209 and $84,454, respectively	`PropertyPlantAndEquipmentNet`	$111.95M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.36M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.65M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $60,604 and $56,955, respectively	`IntangibleAssetsNetExcludingGoodwill`	$266.41M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $60,604 and $56,955, respectively	`IntangibleAssetsNetExcludingGoodwill`	$231.76M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.64M	shares	Point-in-time
Goodwill	`Goodwill`	$353.30M	USD	Point-in-time
Goodwill	`Goodwill`	$323.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.12M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.11M	USD	Point-in-time
Total Assets	`Assets`	$1.07B	USD	Point-in-time
Total Assets	`Assets`	$978.37M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.31M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $41,760 and $35,266, respectively	`BillingsInExcessOfCost`	$16.19M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $41,760 and $35,266, respectively	`BillingsInExcessOfCost`	$24.76M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$18.40M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$28.77M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$27.21M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$26.87M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$23.83M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$22.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$158.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.39M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$40.13M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$39.84M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$84.50M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$69.56M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.78M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$14.84M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$90.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$160.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$448.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$363.26M	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,364,183 and 30,364,183 shares, respectively	`CommonStockValue`	$304.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,364,183 and 30,364,183 shares, respectively	`CommonStockValue`	$304.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$290.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$291.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$471.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$479.94M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-39.28M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-43.78M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$728.35M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$722.88M	USD	Point-in-time
Less treasury stock, at cost: 4,643,722 and 4,647,322 common shares, respectively	`TreasuryStockValue`	$107.71M	USD	Point-in-time
Less treasury stock, at cost: 4,643,722 and 4,647,322 common shares, respectively	`TreasuryStockValue`	$107.77M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$620.64M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$615.11M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$978.37M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.07B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$132.83M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$146.37M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$92.91M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$80.05M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.29M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.76M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.65M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.69M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-229.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-684.00K	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$-3.60M	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$766.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$119.86M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$130.24M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.97M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.12M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.14M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.41	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.09M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.44M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.33M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$16.93M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.05M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.39M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.26M	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$1.29M	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-333.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-208.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-263.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.74M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$75.00M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$12.41M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$1.71M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$1.43M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.99M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.75M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-16.87M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-83.42M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$33.00M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$90.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$13.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$20.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.06M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.06M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$950.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-134.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.98M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$67.81M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.19M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.04M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$414.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.07M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$51.76M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.83M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.41M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$51.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.41M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.14M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.36M	USD	1 Quarter
Net unrealized (loss) gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$133.00K	USD	1 Quarter
Net unrealized (loss) gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-63.00K	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.07M	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.75M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.23M	USD	1 Quarter

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