10-Q Filing

ACUITY INC. (DE) CIK: 1144215 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001144215-23-000008`
Period End Date	20221130
Filing Date	20230109
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	ayi-20221130_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 44 Cash Flow Statement 56

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.20M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$223.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$284.10M	USD	Point-in-time
Accounts receivable, less reserve for doubtful accounts of $1.7 and $1.2, respectively	`AccountsReceivableNetCurrent`	$584.20M	USD	Point-in-time
Accounts receivable, less reserve for doubtful accounts of $1.7 and $1.2, respectively	`AccountsReceivableNetCurrent`	$665.90M	USD	Point-in-time
Inventories	`InventoryNet`	$485.70M	USD	Point-in-time
Inventories	`InventoryNet`	$487.00M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$91.20M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$100.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.46B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.47B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$276.50M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$279.60M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$74.90M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$66.80M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Goodwill	`Goodwill`	$1.09B	USD	Point-in-time
Goodwill	`Goodwill`	$1.09B	USD	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.24M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.38M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$529.20M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$505.60M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	21.75M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	22.23M	shares	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.30M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.40M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$48.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$45.40M	USD	Point-in-time
Total assets	`Assets`	$3.44B	USD	Point-in-time
Total assets	`Assets`	$3.48B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$415.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$397.80M	USD	Point-in-time
Current maturities of debt	`ShortTermBorrowings`	-	USD	Point-in-time
Current maturities of debt	`ShortTermBorrowings`	$18.00M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$15.70M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$15.70M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$68.70M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$88.00M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$198.10M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$214.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$697.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$733.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$495.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$495.10M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$63.60M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$67.40M	USD	Point-in-time
Accrued pension liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$41.40M	USD	Point-in-time
Accrued pension liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$41.50M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$102.10M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$100.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$134.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$128.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.53B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.57B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,376,386 and 54,241,069 issued, respectively	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,376,386 and 54,241,069 issued, respectively	`CommonStockValue`	$500.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.04B	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.04B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.25B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.18B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-125.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-126.20M	USD	Point-in-time
Treasury stock, at cost, of 22,225,453 and 21,753,820 shares, respectively	`TreasuryStockValue`	$2.18B	USD	Point-in-time
Treasury stock, at cost, of 22,225,453 and 21,753,820 shares, respectively	`TreasuryStockValue`	$2.25B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.91B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.07B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.04B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.90B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.44B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.48B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$926.10M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$997.90M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$581.40M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$540.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$416.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$385.80M	USD	1 Quarter
Selling, distribution, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$270.70M	USD	1 Quarter
Selling, distribution, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$300.70M	USD	1 Quarter
Special charges	`RestructuringCharges`	-	USD	1 Quarter
Special charges	`RestructuringCharges`	$6.90M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$108.90M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$115.10M	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-6.60M	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-5.90M	USD	1 Quarter
Miscellaneous expense, net	`OtherNonoperatingIncomeExpense`	$-9.10M	USD	1 Quarter
Miscellaneous expense, net	`OtherNonoperatingIncomeExpense`	$-300.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-6.20M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-15.70M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$108.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$93.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$18.30M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$21.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$74.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$87.60M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.50	USD	1 Quarter
Basic earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.32	USD	1 Quarter
Basic weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.31M	shares	1 Quarter
Basic weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.06M	shares	1 Quarter
Diluted earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.46	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.29	USD	1 Quarter
Diluted weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.54M	shares	1 Quarter
Diluted weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.70M	shares	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.13	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.13	USD	1 Quarter
Net income	`NetIncomeLoss`	$74.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$87.60M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.50M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-11.90M	USD	1 Quarter
Defined benefit plans, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.20M	USD	1 Quarter
Defined benefit plans, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.10M	USD	1 Quarter
Other comprehensive loss items, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-400.00K	USD	1 Quarter
Other comprehensive loss items, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-10.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$74.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$76.90M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$74.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$87.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$24.30M	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	$7.60M	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	$10.70M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$4.30M	USD	1 Quarter
Loss on sale of a business	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-11.20M	USD	1 Quarter
Loss on sale of a business	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.20M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-81.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$41.30M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$47.70M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.50M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$20.30M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.70M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$28.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$83.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$186.60M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.30M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.20M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.90M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-300.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.30M	USD	1 Quarter
Repayments on credit facility, net of borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayments on credit facility, net of borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$-18.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$56.30M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$76.50M	USD	1 Quarter
Proceeds from stock option exercises and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$8.60M	USD	1 Quarter
Proceeds from stock option exercises and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$900.00K	USD	1 Quarter
Payments of taxes withheld on net settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.70M	USD	1 Quarter
Payments of taxes withheld on net settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$12.50M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$4.30M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$4.70M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-110.40M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.10M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.90M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$12.70M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$60.90M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$504.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$223.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$491.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$504.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$223.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$491.30M	USD	Point-in-time
Income taxes paid during the period	`IncomeTaxesPaid`	$11.00M	USD	1 Quarter
Income taxes paid during the period	`IncomeTaxesPaid`	$28.30M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$13.30M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$15.30M	USD	1 Quarter

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