10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-024737`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	ese-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 48 Cash Flow Statement 54 Comprehensive Income 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$115.73M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$120.89M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$92.27M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$101.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.95M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.91M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$163.74M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$159.92M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$100.54M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$53.03M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$135.42M	USD	Point-in-time
Inventories	`InventoryNet`	$124.49M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.05M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.53M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.63M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.62M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$396.02M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.62M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$435.96M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $120,886 and $115,728, respectively	`PropertyPlantAndEquipmentNet`	$134.95M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $120,886 and $115,728, respectively	`PropertyPlantAndEquipmentNet`	$132.81M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $101,546 and $92,274, respectively	`IntangibleAssetsNetExcludingGoodwill`	$345.35M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $101,546 and $92,274, respectively	`IntangibleAssetsNetExcludingGoodwill`	$338.51M	USD	Point-in-time
Goodwill	`Goodwill`	$381.65M	USD	Point-in-time
Goodwill	`Goodwill`	$381.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.14M	USD	Point-in-time
Total assets	`Assets`	$1.29B	USD	Point-in-time
Total assets	`Assets`	$1.27B	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`	$63.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.09M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$55.45M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$49.03M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$29.38M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$27.24M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$41.16M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$39.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$201.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$200.53M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$15.99M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$16.29M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$64.79M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$62.94M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$21.69M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$24.10M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$200.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$197.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$499.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$505.71M	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 30,633,742 and 30,534,786 shares, respectively	`CommonStockValue`	$305.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,633,742 and 30,534,786 shares, respectively	`CommonStockValue`	$305.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$291.19M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$293.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$606.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$643.02M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-31.53M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-35.28M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$866.80M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$901.65M	USD	Point-in-time
Less treasury stock, at cost: 4,615,627 and 4,623,958 common shares, respectively	`TreasuryStockValue`	$107.39M	USD	Point-in-time
Less treasury stock, at cost: 4,615,627 and 4,623,958 common shares, respectively	`TreasuryStockValue`	$107.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$759.41M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$794.40M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.27B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.29B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$174.78M	USD	1 Quarter
Net sales	`Revenues`	$348.27M	USD	2 Qtrs
Net sales	`Revenues`	$193.95M	USD	1 Quarter
Net sales	`Revenues`	$376.55M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$112.37M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$240.85M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$121.95M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$224.11M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$40.75M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$82.90M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$82.67M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$41.67M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.27M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.01M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.56M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.62M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.04M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.81M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-4.22M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-1.93M	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$-1.65M	USD	2 Qtrs
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$4.67M	USD	2 Qtrs
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$-1.48M	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$-2.43M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$321.89M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$331.93M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$161.19M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$172.59M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$26.39M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$44.61M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.36M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.58M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$8.50M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-18.28M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.56M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$3.59M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$36.11M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$18.80M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$44.66M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$9.99M	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$1.39	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$1.73	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.72	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$1.72	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$1.38	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$36.11M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$18.80M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$44.66M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$9.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.80M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.78M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.56M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.65M	USD	2 Qtrs
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$28.85M	USD	2 Qtrs
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$5.57M	USD	2 Qtrs
Change in property, plant and equipment due to gain on sale of building	`GainLossOnSaleOfPropertyPlantEquipment`	$8.92M	USD	2 Qtrs
Change in property, plant and equipment due to gain on sale of building	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.86M	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-26.53M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$537.00K	USD	2 Qtrs
Pension contributions	`PensionContributions`	$833.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.99M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.47M	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$11.37M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$4.61M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$4.49M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$10.10M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$17.43M	USD	2 Qtrs
Proceeds from sale of building and land	`ProceedsFromSaleOfLandHeldForUse`	$17.20M	USD	2 Qtrs
Proceeds from sale of building and land	`ProceedsFromSaleOfLandHeldForUse`	-	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.07M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.72M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfDebt`	$23.00M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfDebt`	$36.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$26.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$46.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.13M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.15M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$560.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$370.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.57M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.78M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.02M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.56M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.61M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.48M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.48M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.95M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.48M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.52M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$4.17M	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$3.59M	USD	2 Qtrs
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$13.45M	USD	2 Qtrs
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$3.74M	USD	2 Qtrs

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$36.11M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$18.80M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$44.66M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$9.99M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.85M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.12M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$677.00K	USD	1 Quarter
Net unrealized gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-155.00K	USD	2 Qtrs
Net unrealized gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-126.00K	USD	1 Quarter
Net unrealized gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-138.00K	USD	1 Quarter
Net unrealized gain on derivative instruments	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-100.00K	USD	2 Qtrs
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$803.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-3.75M	USD	2 Qtrs
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$4.28M	USD	2 Qtrs
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.98M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.97M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$32.36M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$48.95M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.60M	USD	1 Quarter

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