10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001410578-22-000098`
Period End Date	20211231
Filing Date	20220209
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	ese-20211231x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 24 Cash Flow Statement 46 Comprehensive Income 8

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.44M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.59M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$147.55M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$150.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.72M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$149.89M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$156.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.23M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,588 and $3,445, respectively	`AccountsReceivableNetCurrent`	$146.34M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,588 and $3,445, respectively	`AccountsReceivableNetCurrent`	$135.87M	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
Contract assets, net	`ContractWithCustomerAssetNetCurrent`	$100.86M	USD	Point-in-time
Contract assets, net	`ContractWithCustomerAssetNetCurrent`	$93.77M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$147.15M	USD	Point-in-time
Inventories, net	`InventoryNet`	$165.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.33M	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
Other current assets	`OtherAssetsCurrent`	$22.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$466.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$484.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.67M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.60M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.72M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $150,818 and $147,551, respectively	`PropertyPlantAndEquipmentNet`	$154.26M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $150,818 and $147,551, respectively	`PropertyPlantAndEquipmentNet`	$155.71M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $156,359 and $149,892, respectively	`IntangibleAssetsNetExcludingGoodwill`	$411.68M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $156,359 and $149,892, respectively	`IntangibleAssetsNetExcludingGoodwill`	$409.25M	USD	Point-in-time
Goodwill	`Goodwill`	$504.85M	USD	Point-in-time
Goodwill	`Goodwill`	$509.27M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$31.12M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$31.85M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.64M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.98M	USD	Point-in-time
Total assets	`Assets`	$1.58B	USD	Point-in-time
Total assets	`Assets`	$1.60B	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$20.00M	USD	Point-in-time
Current maturities of long-term debt and short-term borrowings	`DebtCurrent`	$20.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$56.67M	USD	Point-in-time
Contract liabilities, net	`ContractWithCustomerLiabilityCurrent`	$111.60M	USD	Point-in-time
Contract liabilities, net	`ContractWithCustomerLiabilityCurrent`	$108.81M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$29.69M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$39.77M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$40.94M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$52.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$265.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$277.76M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$73.56M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$80.96M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$28.03M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$26.71M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$44.29M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$37.39M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$178.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$134.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$588.94M	USD	Point-in-time
Total liabilities	`Liabilities`	$557.65M	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 30,705,913 and 30,666,173 shares, respectively	`CommonStockValue`	$307.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,705,913 and 30,666,173 shares, respectively	`CommonStockValue`	$307.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$296.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$297.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$840.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$830.99M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.66M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.16M	USD	Point-in-time
Total stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.13B	USD	Point-in-time
Total stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.13B	USD	Point-in-time
Less treasury stock, at cost: 4,720,417 and 4,604,741 common shares, respectively	`TreasuryStockValue`	$107.08M	USD	Point-in-time
Less treasury stock, at cost: 4,720,417 and 4,604,741 common shares, respectively	`TreasuryStockValue`	$117.08M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$976.16M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.60B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.58B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$162.67M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$177.01M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$99.62M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$108.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$41.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$46.63M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.95M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.47M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-541.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-733.00K	USD	1 Quarter
Other expenses, net	`OtherOperatingIncomeExpenseNet`	$-23.00K	USD	1 Quarter
Other expenses, net	`OtherOperatingIncomeExpenseNet`	$-33.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$146.13M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$162.17M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.84M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.54M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.31M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.72M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.52M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$11.52M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.17M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.37M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.69M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.13M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$30.84M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$7.40M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-538.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.79M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.95M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.51M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$15.59M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireAdditionalCapitalizedSoftware`	$1.55M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireAdditionalCapitalizedSoftware`	$1.96M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$14.13M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.97M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.04M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.68M	USD	1 Quarter
Proceeds from long-term debt and short-term borrowings	`ProceedsFromIssuanceOfDebt`	$74.00M	USD	1 Quarter
Proceeds from long-term debt and short-term borrowings	`ProceedsFromIssuanceOfDebt`	$30.00M	USD	1 Quarter
Principal payments on long-term debt and short-term borrowings	`RepaymentsOfDebt`	$30.00M	USD	1 Quarter
Principal payments on long-term debt and short-term borrowings	`RepaymentsOfDebt`	$36.52M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.08M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.08M	USD	1 Quarter
Purchases of common stock into treasury	`PaymentsForRepurchaseOfCommonStock`	$10.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.74M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.61M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.19M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.65M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$33.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.56M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.72M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.36M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.56M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.36M	USD	Point-in-time
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-517.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.80M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$179.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$388.00K	USD	1 Quarter
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$4.34M	USD	1 Quarter
Income taxes paid (including state and foreign)	`IncomeTaxesPaid`	$195.00K	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$11.52M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.35M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.50M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.50M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.35M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.17M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.02M	USD	1 Quarter

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