10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-006187`
Period End Date	20171231
Filing Date	20180207
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ese-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 24 Cash Flow Statement 52 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`	$45.13M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$64.10M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$99.65M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$106.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.60M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$73.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$78.33M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$59.77M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$148.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$160.58M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$53.21M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $45,134 and $64,099, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$39.05M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	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 $45,134 and $64,099, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$47.29M	USD	Point-in-time
Inventories	`InventoryNet`	$124.52M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$130.58M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.30M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.89M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$392.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$373.03M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $106,791 and $99,650, respectively	`PropertyPlantAndEquipmentNet`	$132.75M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $106,791 and $99,650, respectively	`PropertyPlantAndEquipmentNet`	$132.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.47M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $78,325 and $73,879, respectively	`IntangibleAssetsNetExcludingGoodwill`	$351.13M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.63M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $78,325 and $73,879, respectively	`IntangibleAssetsNetExcludingGoodwill`	$347.58M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.64M	shares	Point-in-time
Goodwill	`Goodwill`	$377.88M	USD	Point-in-time
Goodwill	`Goodwill`	$378.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.84M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.89M	USD	Point-in-time
Total assets	`Assets`	$1.26B	USD	Point-in-time
Total assets	`Assets`	$1.24B	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`	$48.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.79M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $53,206 and $59,772, respectively	`BillingsInExcessOfCost`	$22.45M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $53,206 and $59,772, respectively	`BillingsInExcessOfCost`	$28.97M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$32.26M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$21.82M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$25.45M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$28.58M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$33.03M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$36.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$194.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$178.03M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$30.22M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$30.27M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$57.88M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$86.38M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$21.96M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$24.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$255.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$240.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$588.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$530.68M	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 30,468,824 and 30,468,824 shares, respectively	`CommonStockValue`	$305.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,468,824 and 30,468,824 shares, respectively	`CommonStockValue`	$305.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$290.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$289.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$516.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$549.32M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-27.31M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.00M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$779.50M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$814.61M	USD	Point-in-time
Less treasury stock, at cost: 4,632,922 and 4,635,622 common shares, respectively	`TreasuryStockValue`	$107.54M	USD	Point-in-time
Less treasury stock, at cost: 4,632,922 and 4,635,622 common shares, respectively	`TreasuryStockValue`	$107.58M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$707.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$671.92M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.26B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$173.50M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$146.37M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$92.91M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$111.74M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.76M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.15M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.65M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.45M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-684.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.19M	USD	1 Quarter
Other expenses (income), net	`OtherOperatingIncomeExpenseNet`	$766.00K	USD	1 Quarter
Other expenses (income), net	`OtherOperatingIncomeExpenseNet`	$-173.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$160.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$130.24M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.12M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.80M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-21.87M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$5.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$34.67M	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$1.34	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.41	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$1.33	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$34.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.23M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.35M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.44M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.05M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-4.51M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-28.50M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.39M	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-333.00K	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-3.10M	USD	1 Quarter
Pension contributions	`PensionContributions`	$360.00K	USD	1 Quarter
Pension contributions	`PensionContributions`	-	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-263.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	-	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.74M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$233.00K	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$75.00M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$2.08M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$1.43M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.99M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.61M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.92M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-83.42M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$90.00M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$15.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$30.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$20.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.07M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.06M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$17.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-134.00K	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$67.81M	USD	1 Quarter
Net cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.05M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.26M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.19M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.92M	USD	1 Quarter
Net decrease 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`	$41.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	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`	$41.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.83M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$509.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$2.05M	USD	1 Quarter
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$1.03M	USD	1 Quarter
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$1.02M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$10.73M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$34.67M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.29M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.36M	USD	1 Quarter
Net unrealized gain (loss) on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$133.00K	USD	1 Quarter
Net unrealized gain (loss) on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-17.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.30M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.23M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.98M	USD	1 Quarter

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