10-Q Filing

ACUITY INC. (DE) CIK: 1144215 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001144215-24-000005`
Period End Date	20231130
Filing Date	20240109
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	ayi-20231130_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 44 Cash Flow Statement 58

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$397.90M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$513.30M	USD	Point-in-time
Accounts receivable, less reserve for doubtful accounts of $1.6 and $1.3, respectively	`AccountsReceivableNetCurrent`	$555.30M	USD	Point-in-time
Accounts receivable, less reserve for doubtful accounts of $1.6 and $1.3, respectively	`AccountsReceivableNetCurrent`	$517.10M	USD	Point-in-time
Inventories	`InventoryNet`	$368.50M	USD	Point-in-time
Inventories	`InventoryNet`	$365.30M	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`	$78.40M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$73.50M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.40B	USD	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
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$297.60M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$293.60M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$84.10M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$79.10M	USD	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
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Goodwill	`Goodwill`	$1.10B	USD	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Goodwill	`Goodwill`	$1.10B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.54M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$481.20M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	54.41M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$471.20M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$700.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23.36M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	23.65M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$47.70M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$49.50M	USD	Point-in-time
Total assets	`Assets`	$3.41B	USD	Point-in-time
Total assets	`Assets`	$3.46B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$311.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$285.70M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$19.30M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$19.70M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$71.50M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$103.30M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$198.00M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$186.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$600.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$595.40M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$495.70M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$495.60M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$70.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$75.50M	USD	Point-in-time
Accrued pension liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$38.40M	USD	Point-in-time
Accrued pension liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$38.40M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$56.50M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$59.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$129.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$138.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.39B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.40B	USD	Point-in-time
Commitments and contingencies (see Commitments and Contingencies footnote)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Commitments and Contingencies footnote)	`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; 54,536,606 and 54,411,186 issued, respectively	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,536,606 and 54,411,186 issued, respectively	`CommonStockValue`	$500.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.07B	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.51B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.60B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-114.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-112.60M	USD	Point-in-time
Treasury stock, at cost, of 23,652,280 and 23,362,196 shares, respectively	`TreasuryStockCommonValue`	$2.44B	USD	Point-in-time
Treasury stock, at cost, of 23,652,280 and 23,362,196 shares, respectively	`TreasuryStockCommonValue`	$2.49B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.90B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.91B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.06B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.02B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.46B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.41B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$997.90M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$934.70M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$581.40M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$506.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$428.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$416.50M	USD	1 Quarter
Selling, distribution, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$300.70M	USD	1 Quarter
Selling, distribution, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$295.50M	USD	1 Quarter
Special charges	`RestructuringCharges`	$6.90M	USD	1 Quarter
Special charges	`RestructuringCharges`	-	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$132.90M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$108.90M	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-900.00K	USD	1 Quarter
Interest expense, net	`InterestRevenueExpenseNet`	$-6.60M	USD	1 Quarter
Miscellaneous expense, net	`OtherNonoperatingIncomeExpense`	$-9.10M	USD	1 Quarter
Miscellaneous expense, net	`OtherNonoperatingIncomeExpense`	$-1.10M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-15.70M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-2.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$130.90M	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`	$30.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$74.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$100.60M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.32	USD	1 Quarter
Basic earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$3.25	USD	1 Quarter
Basic weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	31.00M	shares	1 Quarter
Basic weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.31M	shares	1 Quarter
Diluted earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.29	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$3.21	USD	1 Quarter
Diluted weighted average number of shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.36M	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`	$100.60M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.10M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.50M	USD	1 Quarter
Defined benefit plans, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-600.00K	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`	$-1.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$74.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$99.10M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$74.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$100.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.70M	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	$11.10M	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	$10.70M	USD	1 Quarter
Loss on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-400.00K	USD	1 Quarter
Loss on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$4.30M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on sale of a business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Loss on sale of a business	`GainLossOnSaleOfBusiness`	$-11.20M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-37.80M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-81.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.20M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.50M	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$20.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$28.70M	USD	1 Quarter
Other operating activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$28.60M	USD	1 Quarter
Other operating activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$9.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$186.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$190.00M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.60M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.20M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.90M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.50M	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`	$76.50M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$48.20M	USD	1 Quarter
Proceeds from stock option exercises and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$900.00K	USD	1 Quarter
Proceeds from stock option exercises and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.60M	USD	1 Quarter
Payments of taxes withheld on net settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$9.00M	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`	$4.10M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.70M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-110.40M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-400.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$115.40M	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`	$284.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$513.30M	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`	$397.90M	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`	$513.30M	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`	$397.90M	USD	Point-in-time
Income taxes paid during the period	`IncomeTaxesPaid`	$11.00M	USD	1 Quarter
Income taxes paid during the period	`IncomeTaxesPaid`	$7.10M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$15.30M	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$12.80M	USD	1 Quarter

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