filings.toolsWaters 10-Q 2022-04-02
Filed 2022-05-05. 1 sections, 146K characters. Original on sec.gov · Markdown · JSON
Full document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended April 2, 2022
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from
to
.
Commission File Number:
01-14010
Waters Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 13-3668640 | |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
34 Maple Street
Milford, Massachusetts 01757
(Address, including zip code, of principal executive offices)
(508) 478-2000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock, par value $0.01 per share | WAT | New York Stock Exchange, Inc. |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in
Rule 12b-2
of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ | |||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||
| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2
of the Act). Yes ☐ No ☒
Indicate the number of shares outstanding of the registrant’s common stock as of April 29, 2022: 60,235,338
WATERS CORPORATION AND SUBSIDIARIES
QUARTERLY REPORT ON FORM
10-Q
INDEX
| Item 1: | Financial Statements |
|---|
WATERS CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
| April 2, 2022 | December 31, 2021 | |||||||
| (In thousands, except per share data) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 480,070 | $ | 501,234 | ||||
| Investments | 23,025 | 68,051 | ||||||
| Accounts receivable, net | 607,262 | 612,648 | ||||||
| Inventories | 381,902 | 356,095 | ||||||
| Other current assets | 92,915 | 90,914 | ||||||
| Total current assets | 1,585,174 | 1,628,942 | ||||||
| Property, plant and equipment, net | 547,199 | 547,913 | ||||||
| Intangible assets, net | 236,408 | 242,401 | ||||||
| Goodwill | 435,807 | 437,865 | ||||||
| Operating lease assets | 86,944 | 84,734 | ||||||
| Other assets | 149,737 | 153,077 | ||||||
| Total assets | $ | 3,041,269 | $ | 3,094,932 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 93,235 | 96,799 | ||||||
| Accrued employee compensation | 33,770 | 101,192 | ||||||
| Deferred revenue and customer advances | 315,086 | 227,561 | ||||||
| Current operating lease liabilities | 26,089 | 27,906 | ||||||
| Accrued income taxes | 82,634 | 61,278 | ||||||
| Accrued warranty | 10,212 | 10,718 | ||||||
| Other current liabilities | 126,803 | 155,054 | ||||||
| Total current liabilities | 687,829 | 680,508 | ||||||
| Long-term liabilities: | ||||||||
| Long-term debt | 1,444,122 | 1,513,870 | ||||||
| Long-term portion of retirement benefits | 58,442 | 64,027 | ||||||
| Long-term income tax liabilities | 319,896 | 319,547 | ||||||
| Long-term operating lease liabilities | 61,129 | 59,623 | ||||||
| Other long-term liabilities | 94,914 | 89,803 | ||||||
| Total long-term liabilities | 1,978,503 | 2,046,870 | ||||||
| Total liabilities | 2,666,332 | 2,727,378 | ||||||
| Commitments and contingencies (Notes 6, 7, 8 and 11) | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at April 2, 2022 and December 31, 2021 | — | — | ||||||
| Common stock, par value $0.01 per share, 400,000 shares authorized, 162,252 and 162,084 shares issued, 60,372 and 60,728 shares outstanding at April 2, 2022 and December 31, 2021, respectively | 1,623 | 1,621 | ||||||
| Additional paid-in capital | 2,138,42 |
Showing the first 8K of 146K characters. Open the full section