Form 10-Q

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

0001193125-12-220966.txt : 20120509 0001193125-12-220966.hdr.sgml : 20120509 20120509115448 ACCESSION NUMBER: 0001193125-12-220966 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120509 DATE AS OF CHANGE: 20120509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATSCO INC CENTRAL INDEX KEY: 0000105016 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES [5070] IRS NUMBER: 590778222 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-05581 FILM NUMBER: 12824511 BUSINESS ADDRESS: STREET 1: 2665 S BAYSHORE DR STREET 2: STE 901 CITY: COCONUT GROVE STATE: FL ZIP: 33133 BUSINESS PHONE: 3058580828 MAIL ADDRESS: STREET 1: 2665 SOUTH BAYSHORE DR, STE 901 CITY: COCONUT GROVE STATE: FL ZIP: 33133 10-Q 1 d318124d10q.htm FORM 10-Q Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x	Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Quarterly Period Ended March 31, 2012

¨	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 1-5581

I.R.S. Employer Identification Number 59-0778222

LOGO

WATSCO, INC.

(a Florida Corporation)

2665 South Bayshore Drive, Suite 901

Miami, Florida 33133

Telephone: (305) 714-4100

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 x NO ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted 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 and post such files). YES x NO ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ¨ NO x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 29,682,083 shares of Common stock ($0.50 par value), excluding treasury shares of 6,322,650 and 4,709,432 shares of Class B common stock ($0.50 par value), excluding treasury shares of 48,263, were outstanding as of May 4, 2012.

WATSCO, INC. AND SUBSIDIARIES

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS


		Page No.
PART I. FINANCIAL INFORMATION

Item 1.	Condensed Consolidated Unaudited Financial Statements

	Condensed Consolidated Unaudited Statements of Income – Quarters Ended March 31, 2012 and 2011		3

	Condensed Consolidated Unaudited Statements of Comprehensive Income – Quarters Ended March 31, 2012 and 2011		4

	Condensed Consolidated Balance Sheets – March 31, 2012 (Unaudited) and December 31, 2011		5

	Condensed Consolidated Unaudited Statements of Cash Flows – Quarters Ended March 31, 2012 and 2011		6

	Notes to Condensed Consolidated Unaudited Financial Statements		7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		12

Item 3.	Quantitative and Qualitative Disclosures about Market Risk		17

Item 4.	Controls and Procedures		17

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings		18

Item 1A.	Risk Factors		18

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		18

Item 6.	Exhibits		19

SIGNATURE			20

EXHIBITS

2 of 20

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

WATSCO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF INCOME

(In thousands, except per share data)


	Quarters Ended March 31,
	2012		2011
Revenues	$	633,512	$	534,339
Cost of sales		482,890		399,353


Gross profit		150,622		134,986
Selling, general and administrative expenses		130,713		118,276


Operating income		19,909		16,710
Interest expense, net		888		822


Income before income taxes		19,021		15,888
Income taxes		5,529		4,766


Net income		13,492		11,122
Less: net income attributable to noncontrolling interest		5,026		3,622


Net income attributable to Watsco, Inc.	$	8,466	$	7,500


Earnings per share for Common and Class B common stock:
Basic	$	0.23	$	0.21

Diluted	$	0.23	$	0.21

See accompanying notes to condensed consolidated unaudited financial statements.

3 of 20

WATSCO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)


	Quarters Ended March 31,
	2012		2011
Net income	$	13,492	$	11,122
Other comprehensive income, net of tax
Unrealized gain on derivative instrument arising during the period		—		71
Unrealized gain on available-for-sale securities arising during the period		16		7


Other comprehensive income		16		78

Comprehensive income		13,508		11,200
Less: comprehensive income attributable to noncontrolling interest		5,026		3,622


Comprehensive income attributable to Watsco, Inc.	$	8,482	$	7,578

See accompanying notes to condensed consolidated unaudited financial statements.

4 of 20

WATSCO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)


	March 31, 2012			December 31, 2011
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	18,057		$	15,673
Accounts receivable, net		339,378			327,664
Inventories		532,432			465,349
Other current assets		21,095			19,491


Total current assets		910,962			828,177

Property and equipment, net		40,727			39,455
Goodwill		319,440			319,440
Intangible assets, net		74,753			75,366
Other assets		4,731			5,710

	$	1,350,613		$	1,268,148


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term obligations	$	16		$	19
Borrowings under revolving credit agreements		42,500			20,000
Accounts payable		182,462			127,359
Accrued expenses and other current liabilities		82,361			75,661


Total current liabilities		307,339			223,039


Deferred income taxes and other liabilities		43,315			43,399


Commitments and contingencies

Watsco, Inc. shareholders’ equity:
Common stock, $0.50 par value		17,364			17,338
Class B common stock, $0.50 par value		2,379			2,350
Preferred stock, $0.50 par value		—			—
Paid-in capital		498,675			493,519
Accumulated other comprehensive loss, net of tax		(336	)		(352	)
Retained earnings		392,356			404,360
Treasury stock, at cost		(114,425	)		(114,425	)


Total Watsco, Inc. shareholders’ equity		796,013			802,790
Noncontrolling interest		203,946			198,920


Total shareholders’ equity		999,959			1,001,710

	$	1,350,613		$	1,268,148

See accompanying notes to condensed consolidated unaudited financial statements.

5 of 20

WATSCO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF CASH FLOWS

(In thousands)


	Quarters Ended March 31,
	2012			2011
Cash flows from operating activities:
Net income	$	13,492		$	11,122
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		3,081			2,617
Share-based compensation		2,162			1,497
Non-cash contribution for 401(k) plan		1,772			1,718
Provision for doubtful accounts		520			915
Excess tax benefits from share-based compensation		(148	)		(725	)
Other, net		424			601
Changes in operating assets and liabilities:
Accounts receivable		(12,234	)		21,213
Inventories		(67,083	)		(110,907	)
Accounts payable and other liabilities		68,067			28,922
Other, net		(600	)		(1,899	)


Net cash provided by (used in) operating activities		9,453			(44,926	)


Cash flows from investing activities:
Capital expenditures		(3,883	)		(1,692	)
Proceeds from sale of property and equipment		71			57


Net cash used in investing activities		(3,812	)		(1,635	)


Cash flows from financing activities:
Dividends on Common and Class B common stock		(20,470	)		(16,938	)
Distributions to noncontrolling interest		(6,630	)		(12,926	)
Return of capital contribution to noncontrolling interest		—			(32,000	)
Net proceeds from (repayments of) long-term obligations		14			(11	)
Excess tax benefits from share-based compensation		148			725
Net proceeds from issuances of common stock		1,181			2,648
Net borrowings under revolving credit agreements		22,500			14,100


Net cash used in financing activities		(3,257	)		(44,402	)


Net increase (decrease) in cash and cash equivalents		2,384			(90,963	)
Cash and cash equivalents at beginning of period		15,673			126,498


Cash and cash equivalents at end of period	$	18,057		$	35,535

See accompanying notes to condensed consolidated unaudited financial statements.

6 of 20

WATSCO, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

March 31, 2012

(In thousands, except share and per share data)

1.	BASIS OF PRESENTATION

Basis of Consolidation

Watsco, Inc. and its subsidiaries (collectively, “Watsco,” which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (“HVAC/R”) in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K.

The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation (“Carrier”), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated.

The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions.

Reclassifications

Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported.

Use of Estimates

The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.

Accounting Changes

Presentation of Comprehensive Income

In June 2011, the Financial Accounting Standards Board issued guidance that requires companies to present net income and other comprehensive income in one continuous statement or in two separate but consecutive statements. We added new primary consolidated statements of other comprehensive income, which immediately follow our condensed consolidated unaudited statements of income to our condensed consolidated unaudited financial statements.

7 of 20

2.	EARNINGS PER SHARE

The following table presents the calculation of basic and diluted earnings per common share for our Common and Class B common stock:


*Quarters Ended March 31,*	2012		2011
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	8,466	$	7,500
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		1,408		1,152

Earnings allocated to Watsco, Inc. shareholders	$	7,058	$	6,348


Weighted-average Common and Class B common shares outstanding for basic earnings per share		30,756,626		30,601,573

Basic earnings per share for Common and Class B common stock	$	0.23	$	0.21

Allocation of earnings for Basic:
Common stock	$	6,405	$	5,755
Class B common stock		653		593

	$	7,058	$	6,348


Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	8,466	$	7,500
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		1,408		1,152

Earnings allocated to Watsco, Inc. shareholders	$	7,058	$	6,348


Weighted-average Common and Class B common shares outstanding for basic earnings per share		30,756,626		30,601,573
Effect of dilutive stock options		77,842		92,779

Weighted-average Common and Class B common shares outstanding for diluted earnings per share		30,834,468		30,694,352


Diluted earnings per share for Common and Class B common stock	$	0.23	$	0.21

Diluted earnings per share for our Common stock assumes the conversion of all of our Class B common stock into Common stock as of the beginning of the fiscal year and adjusts for the dilutive effects of outstanding stock options using the treasury stock method; therefore, no allocation of earnings to Class B common stock is required. As of March 31, 2012 and 2011, our outstanding Class B common stock was convertible into 2,846,334 and 2,858,442 shares of our Common stock, respectively.

Diluted earnings per share excluded 7,628 shares for the quarter ended March 31, 2011 related to stock options with an exercise price per share greater than the average market value, resulting in an anti-dilutive effect on diluted earnings per share. No shares were excluded from diluted earnings per share for the quarter ended March 31, 2012 related to stock options.

3.	OTHER COMPREHENSIVE INCOME

Other comprehensive income consists of changes in the unrealized gain on available-for-sale securities and the effective portion of a cash flow hedge that matured in October 2011. The tax effects allocated to each component of other comprehensive income are as follows:


*Quarters Ended March 31,*	2012		2011
Unrealized gain on derivative instrument	$	—	$	115
Income tax expense		—		44

Unrealized gain on derivative instrument, net of tax		—		71


Unrealized gain on available-for-sale securities		25		11
Income tax expense		9		4

Unrealized gain on available-for-sale securities, net of tax		16		7


Other comprehensive income	$	16	$	78

8 of 20

The changes in accumulated other comprehensive loss, net of tax, are as follows:


*Quarters Ended March 31,*	2012		2011
Derivative instrument:
Beginning balance	$	—	$	238
Current period other comprehensive income		—		71

Ending balance		—		167


Available-for-sale securities:
Beginning balance		352		355
Current period other comprehensive income		16		7

Ending balance		336		348


Accumulated other comprehensive loss, net of tax	$	336	$	515

4.	ACQUISITIONS

In 2011, we formed a second joint venture with Carrier that comprises the combination of two transactions. On April 29, 2011, Carrier contributed 28 of its company-owned locations in eight Northeast U.S states, and we contributed 14 locations in the Northeast U.S. On July 29, 2011, we purchased Carrier’s distribution operations in Mexico, which included seven locations. We refer to the foregoing Northeast locations and the Mexico operations together as Carrier Enterprise II. We have a 60% controlling interest in Carrier Enterprise II, and Carrier has a 40% noncontrolling interest.

The unaudited pro forma financial information, combining our results of operations with the operations of Carrier Enterprise II as if the joint venture had been consummated on January 1, 2011, is as follows:


*Quarter ended March 31,*	2011
Revenues	$	587,847

Net income		10,656
Less: net income attributable to noncontrolling interest		3,662

Net income attributable to Watsco, Inc.	$	6,994


Diluted earnings per share for Common and Class B common stock	$	0.19

This unaudited pro forma financial information is presented for informational purposes only. The unaudited pro forma financial information from the beginning of the period presented until the respective acquisition dates of the above-described Northeast U.S. and Mexican operations includes adjustments to record income taxes related to our portion of Carrier Enterprise II’s income and amortization related to identified intangible assets with finite lives. This unaudited pro forma financial information does not include adjustments to add or remove certain corporate expenses of Carrier Enterprise II, which may not be incurred in future periods, or adjustments for depreciation or synergies that may be realized subsequent to the acquisition dates. This unaudited pro forma financial information may not necessarily reflect our future results of operations or what the results of operations would have been had we acquired our 60% controlling interest in and operated Carrier Enterprise II as of the beginning of the period presented.

5.	SHAREHOLDERS’ EQUITY

Common Stock Dividends

Cash dividends of $0.62 and $0.52 per share of Common and Class B common stock were paid during the quarters ended March 31, 2012 and 2011, respectively.

Non-Vested (Restricted) Stock

During the quarters ended March 31, 2012 and 2011, we granted 58,301 and 391,852 shares of non-vested (restricted) stock, respectively.

9 of 20

Stock Options

During the quarters ended March 31, 2012 and 2011, 21,500 and 65,800, respectively, of stock options were exercised for Common stock. Cash received from Common stock issued upon the exercise of stock options during the quarters ended March 31, 2012 and 2011, was $987 and $2,407, respectively.

Employee Stock Purchase Plan

During the quarters ended March 31, 2012 and 2011, 2,962 and 3,997 shares of Common stock were issued under our employee stock purchase plan, respectively, for which we received net proceeds of $194 and $241, respectively.

401(k) Plan

During the quarters ended March 31, 2012 and 2011, 26,991 and 27,240 shares of Common stock were issued to our profit sharing retirement plan, respectively, representing discretionary matching contribution of $1,772 and $1,718, respectively.

Noncontrolling Interest

We have a 60% controlling interest in both Carrier Enterprise I and Carrier Enterprise II, and Carrier has a 40% noncontrolling interest. The following table reconciles shareholders’ equity attributable to the noncontrolling interest:


Noncontrolling interest at December 31, 2011	$	198,920
Net income attributable to noncontrolling interest		5,026

Noncontrolling interest at March 31, 2012	$	203,946

6.	COMMITMENTS AND CONTINGENCIES

Litigation, Claims and Assessments

We are involved in litigation incidental to the operation of our business. We vigorously defend all matters in which we or our subsidiaries are named defendants and, for insurable losses, maintain significant levels of insurance to protect against adverse judgments, claims or assessments that may affect us. Although the adequacy of existing insurance coverage or the outcome of any legal proceedings cannot be predicted with certainty, based on the current information available, we do not believe the ultimate liability associated with any known claims or litigation will have a material adverse affect on our financial condition or results of operations.

Self-Insurance

Self-insurance reserves are maintained relative to company-wide casualty insurance and health benefit programs. The level of exposure from catastrophic events is limited by the purchase of stop-loss and aggregate liability reinsurance coverage. When estimating the self-insurance liabilities and related reserves, management considers a number of factors, which include historical claims experience, demographic factors, severity factors and valuations provided by independent third-party actuaries. Management reviews its assumptions with its independent third-party actuaries to evaluate whether the self-insurance reserves are adequate. If actual claims or adverse development of loss reserves occur and exceed these estimates, additional reserves may be required. The estimation process contains uncertainty since management must use judgment to estimate the ultimate cost that will be incurred to settle reported claims and unreported claims for incidents incurred but not reported as of the balance sheet date. Reserves in the amounts of $4,341 and $4,631 at March 31, 2012 and December 31, 2011, respectively, were established related to such insurance programs and are included in accrued expenses and other current liabilities in our condensed consolidated balance sheets.

7.	RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 52% and 41% of all purchases made during the quarters ended March 31, 2012 and 2011, respectively. At March 31, 2012 and December 31, 2011, approximately $76,000 and $41,000, respectively, was payable to Carrier and its affiliates, net of receivables. Our joint ventures with Carrier also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters ended March 31, 2012 and 2011 include $6,784 and $4,104, respectively, of sales to Carrier and its affiliates. We believe these transactions are conducted at arm’s-length in the ordinary course of business.

Carrier Enterprise II entered into Transactional Services Agreements (“TSAs”) with Carrier, pursuant to which Carrier performs certain business processes on its behalf, including processes involving the use of certain information technologies. The services provided by Carrier pursuant to the TSAs terminate on various dates through April 30, 2012 but may be extended as agreed upon by the parties. The fees related to these TSAs were $584 for the quarter ended March 31, 2012 and are included in selling, general and administrative expenses in our condensed consolidated unaudited statement of income. At March 31, 2012 and December 31, 2011, $361 and $941, respectively, related to theses TSAs was payable to Carrier and is included in accrued expenses and other current liabilities in our condensed consolidated unaudited balance sheets.

10 of 20

8.	SUBSEQUENT EVENTS

On April 27, 2012, we completed the formation of a joint venture with UTC Canada Corporation (“UTC Canada”), an affiliate of Carrier, to distribute Carrier, Bryant and Payne branded residential, light-commercial and commercial applied HVAC products in Canada. The newly formed joint venture, Carrier Enterprise Canada, L.P. (“Carrier Enterprise III”), operates 35 locations throughout all of the provinces and territories in Canada. In the formation of the joint venture, UTC Canada contributed its Canadian distribution business and retained a 40% noncontrolling interest in Carrier Enterprise III. Total consideration paid by us for our 60% controlling interest in Carrier Enterprise III included cash consideration of $82,042 and the issuance to UTC Canada of 1,250,000 shares of Common stock having a fair value of $93,250. The final purchase price is subject to working capital adjustments pursuant to the Asset Purchase Agreement that we entered into with UTC Canada.

Also on April 27, 2012, we entered into an unsecured, five-year $500,000 syndicated revolving credit agreement, which replaced in its entirety both our five-year $300,000 revolving credit agreement maturing on August 3, 2012 and Carrier Enterprise I’s three-year $125,000 secured revolving credit agreement maturing on July 1, 2012. Proceeds from the new facility were used to pay approximately $154,000 owed under our facilities and for the acquisition of Carrier Enterprise III and may be used for, among other things, funding seasonal working capital needs and other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. Included in the facility are a $50,000 swingline subfacility, a $50,000 letter of credit subfacility and a $75,000 multicurrency borrowing sublimit. Borrowings bear interest at either LIBOR-based rates plus a spread which ranges from 100 to 275 basis-points (LIBOR plus 112.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA, or on rates based on the higher of the Prime rate or the Federal Funds rate, in each case plus a spread which ranges from 0 to 175 basis-points (12.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA. We pay a variable commitment fee on the unused portion of the commitment, ranging from 12.5 to 40 basis-points (15 basis-points at April 27, 2012). The credit agreement matures in April 2017. The revolving credit agreement contains customary affirmative and negative covenants including financial covenants with respect to consolidated leverage and interest coverage ratios and other customary restrictions.

11 of 20

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Information About Forward-Looking Statements

This Quarterly Report contains or incorporates by reference statements that are not historical in nature and that are intended to be, and are hereby identified as, “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding, among other items, (i) economic conditions, (ii) business and acquisition strategies, (iii) potential acquisitions and/or joint ventures, (iv) financing plans and (v) industry, demographic and other trends affecting our financial condition or results of operations. These forward-looking statements are based largely on management’s current expectations and are subject to a number of risks, uncertainties and changes in circumstances, certain of which are beyond their control.

Actual results could differ materially from these forward-looking statements as a result of several factors, including, but not limited to:

•

general economic conditions;

•

competitive factors within the HVAC/R industry;

•

effects of supplier concentration;

•

fluctuations in certain commodity costs;

•

consumer spending;

•

consumer debt levels;

•

new housing starts and completions;

•

capital spending in the commercial construction market;

•

access to liquidity needed for operations;

•

seasonal nature of product sales;

•

weather conditions;

•

insurance coverage risks;

•

federal, state and local regulations impacting our industry and products;

•

prevailing interest rates;

•

foreign currency exchange rate fluctuations; and

•

the continued viability of our business strategy.

In light of these uncertainties, there can be no assurance that the forward-looking information contained herein will be realized or, even if substantially realized, in whole or in part, that the information will have the expected consequences to, or effects on, our business or operations. For additional information identifying other important factors that may affect our operations and could cause actual results to vary materially from those anticipated in the forward-looking statements, see our SEC filings, including but not limited to, the discussion included in the Risk Factors section of our 2011 Annual Report on Form 10-K under the headings “Business Risk Factors” and “General Risk Factors.” Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information or the discussion of such risks and uncertainties to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law.

The following information should be read in conjunction with the condensed consolidated unaudited financial statements and notes thereto included under Item 1 of this Quarterly Report on Form 10-Q. In addition, reference should be made to our audited consolidated financial statements and notes thereto and related Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our 2011 Annual Report on Form 10-K.

Company Overview

Watsco, Inc. and its subsidiaries (collectively, “Watsco,” or we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (“HVAC/R”) in the HVAC/R distribution industry. At March 31, 2012, we operated from 541 locations in 38 states, Mexico and Puerto Rico with additional market coverage on an export basis to Latin America and the Caribbean.

Revenues primarily consist of sales of air conditioning, heating and refrigeration equipment and related parts and supplies. Selling, general and administrative expenses primarily consist of selling expenses, the largest components of which are salaries, commissions and marketing expenses that are variable and correlate to changes in sales. Other significant selling, general and administrative expenses relate to the operation of warehouse facilities, including a fleet of trucks and forklifts and facility rent, which are payable mostly under non-cancelable operating leases.

12 of 20

Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions.

Joint Ventures with Carrier Corporation

In 2009, we formed a joint venture with Carrier Corporation (“Carrier”), which we refer to as Carrier Enterprise I, in which Carrier contributed 95 of its company-owned locations in 13 U.S. Sun Belt states and Puerto Rico and its export division in Miami, Florida, and we contributed 15 locations that distributed Carrier products. We have a 60% controlling interest in Carrier Enterprise I, Carrier has a 40% noncontrolling interest and we have options to purchase from Carrier up to an additional 20% interest in Carrier Enterprise I (10% in July 2012 and 10% in July 2014).

In 2011, we formed a second joint venture with Carrier and completed two additional transactions. In April 2011, Carrier contributed 28 of its company-owned locations in eight Northeast U.S states, and we contributed 14 locations in the Northeast U.S. In July 2011, we purchased Carrier’s distribution operations in Mexico, which included seven locations. We refer to the foregoing Northeast locations and the Mexico operations together as Carrier Enterprise II. We have a 60% controlling interest in Carrier Enterprise II, and Carrier has a 40% noncontrolling interest. Neither we nor Carrier have any options to purchase additional ownership interests in Carrier Enterprise II.

In April 2012, we formed a third joint venture with UTC Canada Corporation (“UTC Canada”), an affiliate of Carrier, which we refer to as Carrier Enterprise III. Carrier contributed 35 of its company-owned locations in Canada to Carrier Enterprise III. We have a 60% controlling interest in Carrier Enterprise III, and UTC Canada has a 40% noncontrolling interest. Neither we nor UTC Canada have any options to purchase additional ownership interests in Carrier Enterprise III.

Critical Accounting Policies

Management’s discussion and analysis of financial condition and results of operations is based upon the condensed consolidated unaudited financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amount of revenues and expenses during the reporting period. Actual results may differ from these estimates under different assumptions or conditions. At least quarterly, management reevaluates its judgments and estimates, which are based on historical experience, current trends and various other assumptions that are believed to be reasonable under the circumstances.

Our critical accounting policies are included in our 2011 Annual Report on Form 10-K as filed on February 29, 2012. We believe that there have been no significant changes during the quarter ended March 31, 2012 to the critical accounting policies disclosed in our 2011 Annual Report on Form 10-K.

Items Affecting Comparability Between Periods

Accounting Changes

Refer to Note 1 to the condensed consolidated unaudited financial statements included in this Quarterly Report on Form 10-Q for a discussion of the impact of changes in accounting standards.

Results of Operations

The following table summarizes information derived from the condensed consolidated unaudited statements of income expressed as a percentage of revenues for the quarters ended March 31, 2012 and 2011:


	2012			2011
Revenues		100.0	%		100.0	%
Cost of sales		76.2			74.7

Gross profit		23.8			25.3
Selling, general and administrative expenses		20.6			22.1

Operating income		3.2			3.2
Interest expense, net		0.2			0.2

Income before income taxes		3.0			3.0
Income taxes		0.9			0.9

Net income		2.1			2.1
Less: net income attributable to noncontrolling interest		0.8			0.7

Net income attributable to Watsco, Inc.		1.3	%		1.4	%

13 of 20

The following narratives include the results of operations for businesses acquired during 2011. The results of operations for these acquisitions have been included in our condensed consolidated unaudited statements of income beginning on their respective dates of acquisition. See Note 4 to our condensed consolidated unaudited financial statements included in this Quarterly Report on Form 10-Q for the pro forma financial information combining our results of operations with the operations of Carrier Enterprise II. There were no businesses acquired during the first quarter of 2012. Please refer to the information set forth following the heading “Acquisitions”, below, and in Note 8 to our condensed consolidated unaudited financial statements included in this Quarterly Report on Form 10-Q for information related to our recent acquisition of a 60% controlling interest in our new joint venture with Carrier.

In the following narratives, computations and disclosure information referring to “same-store basis” exclude the effects of locations acquired or locations opened or closed during the immediately preceding 12 months unless they are within close geographical proximity to existing locations. At March 31, 2012 and 2011, 65 and 20 locations, respectively, were excluded from “same-store basis” information. The table below summarizes the changes in our locations for the 12 months ended March 31, 2012:


	Number of Locations
March 31, 2011		502
Acquired		35
Opened		15
Closed		(10	)

December 31, 2011		542
Opened		2
Closed		(3	)

March 31, 2012		541

Revenues

Revenues for the first quarter of 2012 increased $99.2 million, or 19%, compared to the first quarter of 2011, including $63.2 million attributable to the 35 new Carrier Enterprise II locations acquired in 2011 and $2.5 million from other locations opened during the immediately preceding 12 months, partially offset by $4.9 million from closed locations. On a same-store basis, revenues increased $38.4 million, or 7%, as compared to the same period in 2011, reflecting a 12% increase in sales of HVAC equipment and an 11% increase in sales of commercial refrigeration products, partially offset by a 1% decrease in sales of other HVAC products. The increase in same-store revenues is primarily due to strong demand for the replacement of residential and commercial HVAC equipment.

Gross Profit

Gross profit for the quarter ended March 31, 2012 increased $15.6 million, or 12%, compared to the same period in 2011, primarily as a result of increased revenues. Gross profit margin for the quarter ended March 31, 2012 declined 150 basis-points to 23.8% versus 25.3% for the same period in 2011, primarily due to a shift in sales mix toward HVAC equipment, which generates a lower gross profit margin than non-equipment products and the timing of inventory purchases, which had a consequential impact on vendor discounts and rebates.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the first quarter of 2012 increased $12.4 million, or 11%, compared to the first quarter of 2011 primarily due to increased revenues. Selling, general and administrative expenses as a percent of revenues for the quarter ended March 31, 2012 decreased to 20.6% versus 22.1% for the same period in 2011. The decrease in selling, general, and administrative expenses as a percentage of revenues was primarily due to leveraging of fixed operating costs as compared to 2011. On a same-store basis, selling, general and administrative expenses were flat as compared to the same period in 2011.

Interest Expense, Net

Net interest expense for the quarter ended March 31, 2012 increased $0.1 million, or 8%, compared to the same period in 2011, primarily as a result of an increase in average outstanding borrowings during 2012 as compared to 2011.

14 of 20

Income Taxes

Income taxes increased to $5.5 million for the first quarter of 2012 as compared to $4.8 million for the first quarter of 2011 and are a composite of the income taxes attributable to our wholly-owned operations and investments and 60% of income taxes attributable to the Carrier joint ventures, which are taxed as partnerships for income tax purposes. The effective income tax rate attributable to us was 37.5% and 38.0% for the quarters ended March 31, 2012 and 2011, respectively. The decrease is primarily due to certain non-recurring tax benefits realized in 2012.

Net Income Attributable to Watsco, Inc.

Net income attributable to Watsco for the quarter ended March 31, 2012 increased $1.0 million, or 13%, compared to the same period in 2011. The increase was primarily driven by higher revenues and reduced selling, general and administrative expenses as a percent of revenues as discussed above.

Liquidity and Capital Resources

We assess our liquidity in terms of our ability to generate cash to execute our business strategy and fund operating and investing activities, taking into consideration the seasonal demand of HVAC/R products, which peaks in the months of May through August. Significant factors that could affect our liquidity include the following:

•

cash flows generated from operating activities;

•

the adequacy of our available bank line of credit;

•

the ability to attract long-term capital with satisfactory terms;

•

acquisitions;

•

dividend payments;

•

capital expenditures; and

•

the timing and extent of common stock repurchases.

Sources and Uses of Cash

We rely on cash flows from operations and additional borrowing capacity (subject to certain restrictions) under our revolving credit agreement to fund seasonal working capital needs, including our anticipated dividend payments, capital expenditures and funds necessary for business acquisitions, and to support the development of our long-term operating strategies. See Note 8 to our condensed consolidated unaudited financial statements included in this Quarterly Report on Form 10-Q for a discussion of our current revolving credit agreement.

We believe that our operating cash flows, cash on hand and funds available for borrowing under our current line of credit will be sufficient to satisfy our liquidity needs in the foreseeable future, including the expected exercise of our option to acquire an additional 10% interest in Carrier Enterprise I on July 1, 2012 for approximately $51.0 million. However, there can be no assurance that our current sources of available funds will be sufficient to meet our cash requirements.

Any future disruption in the capital and credit markets, such as those experienced in 2008, could adversely affect our ability to draw on our line of credit. Our access to funds under the line of credit is dependent on the ability of the syndicate banks to meet their respective funding commitments. Disruptions in capital and credit markets also may affect the determination of interest rates for borrowers, particularly rates based on LIBOR, such as the rates under our line of credit. Any future disruptions in these markets and their effect on interest rates could result in increased borrowing costs and/or reduced borrowing capacity under our existing line of credit.

Working Capital

Working capital decreased to $603.6 million at March 31, 2012 from $605.1 million at December 31, 2011.

Cash Flows

The following table summarizes our cash flow activity for the quarters ended March 31, 2012 and 2011:


	2012			2011			Change
Cash flows provided by (used in) operating activities	$	9.5		$	(44.9	)	$	54.4
Cash flows used in investing activities	$	(3.8	)	$	(1.6	)	$	(2.2	)
Cash flows used in financing activities	$	(3.3	)	$	(44.4	)	$	41.1

A detail of the individual items contributing to the cash flow changes for the periods presented is included in the condensed consolidated unaudited statements of cash flows included in this Quarterly Report on Form 10-Q.

15 of 20

Operating Activities

The increase in net cash provided by operating activities was principally attributable to higher net income and to changes in operating assets and liabilities, which were primarily from the timing of the seasonal buildup of inventory in 2011, including the purchase of previously consigned inventory from one of our key suppliers for approximately $17.0 million, and higher levels of accounts payable and other liabilities in 2012 due to timing of payments, partially offset by higher accounts receivable driven by increased sales volume in 2012. We expect build-up of seasonal inventory during the second quarter of 2012.

Investing Activities

The increase in net cash used in investing activities is due to higher capital expenditures in 2012.

Financing Activities

The decrease in net cash used in financing activities was primarily attributable to a $32.0 million return of capital to the noncontrolling interest in 2011, higher net borrowings under our revolving credit agreements and a decrease in distributions to the noncontrolling interest, partially offset by an increase in dividends paid in 2012.

Current Revolving Credit Agreement

On April 27, 2012, we entered into an unsecured, five-year $500.0 million syndicated revolving credit agreement, which replaced in its entirety both our five-year $300.0 million revolving credit agreement maturing on August 3, 2012 and Carrier Enterprise I’s three-year $125.0 million secured revolving credit agreement maturing on July 1, 2012. Proceeds from the new facility were used to pay approximately $154.0 million owed under our facilities and for the acquisition of Carrier Enterprise III and may be used for, among other things, funding seasonal working capital needs and other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. Included in the facility are a $50.0 million swingline subfacility, a $50.0 million letter of credit subfacility and a $75.0 million multicurrency borrowing sublimit. Borrowings bear interest at either LIBOR-based rates plus a spread which ranges from 100 to 275 basis-points (LIBOR plus 112.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA, or on rates based on the higher of the Prime rate or the Federal Funds rate, in each case plus a spread which ranges from 0 to 175 basis-points (12.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA. We pay a variable commitment fee on the unused portion of the commitment, ranging from 12.5 to 40 basis-points (15 basis-points at April 27, 2012). The credit agreement matures in April 2017. The revolving credit agreement contains customary affirmative and negative covenants including financial covenants with respect to consolidated leverage and interest coverage ratios and other customary restrictions.

Prior Revolving Credit Agreements

Prior to the entering into our current revolving credit agreement, described above, we maintained a bank-syndicated, unsecured revolving credit agreement that provided for borrowings of up to $300.0 million. Borrowings were used to fund seasonal working capital needs and for other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. At March 31, 2012 and December 31, 2011, $42.5 million and $20.0 million were outstanding under this revolving credit agreement, respectively. The revolving credit agreement contained customary affirmative and negative covenants including financial covenants with respect to consolidated leverage and interest coverage ratios, limits on capital expenditures, dividends and share repurchases, and other restrictions. We believe we were in compliance with all covenants and financial ratios at March 31, 2012.

Carrier Enterprise I also maintained a separate bank-syndicated, secured revolving credit agreement that provided for borrowings of up to $125.0 million. Borrowings under the credit facility were used for general corporate purposes, including working capital and permitted acquisitions. The credit facility was secured by substantially all tangible and intangible assets of Carrier Enterprise I. No borrowings were outstanding under this credit facility at March 31, 2012 or December 31, 2011. The Carrier Enterprise I revolving credit agreement contained customary affirmative and negative covenants and representations and warranties, including compliance with a monthly borrowing base certificate with advance rates on accounts receivable and inventory, two financial covenants with respect to its leverage and interest coverage ratios, limits on capital expenditures and cash distributions, and other restrictions. We believe Carrier Enterprise I was in compliance with all covenants and financial ratios at March 31, 2012.

Acquisitions

On April 27, 2012, we completed the formation of a joint venture with UTC Canada to distribute Carrier, Bryant and Payne branded residential, light-commercial and commercial applied HVAC products in Canada. The newly formed joint venture, Carrier Enterprise III, operates 35 locations throughout all of the provinces and territories in Canada. In the formation of the joint venture, UTC Canada contributed its Canadian distribution business and retained a 40% noncontrolling interest in Carrier Enterprise III. Total consideration paid by us for our 60% controlling interest in Carrier Enterprise III included cash consideration of $82.0 million and the issuance to UTC Canada of 1,250,000 shares of Common stock having a fair value of $93.3 million. The final purchase price is subject to working capital adjustments pursuant to the Asset Purchase Agreement that we entered into with UTC Canada.

16 of 20

We intend to exercise our option to acquire an additional 10% interest in Carrier Enterprise I on July 1, 2012 for approximately $51.0 million in cash, following which we would have a 70% controlling interest in Carrier Enterprise I.

We continually evaluate other potential acquisitions and/or joint ventures and hold discussions with a number of acquisition candidates. Should suitable acquisition opportunities arise that would require additional financing, we believe our financial position and earnings history provide a sufficient basis for us to either obtain additional debt financing at competitive rates and on reasonable terms or raise capital through the issuance of equity securities.

Common Stock Dividends

Cash dividends of $0.62 per share and $0.52 per share of Common and Class B common stock were paid during the quarters ended March 31, 2012 and 2011, respectively. On April 2, 2012, the Board of Directors declared a regular quarterly cash dividend of $0.62 per share of Common and Class B common stock that was paid on April 30, 2012 to shareholders of record as of April 16, 2012. Future dividends and/or dividend rate increases will be at the sole discretion of the Board of Directors and will depend upon such factors as cash flow generated by operations, profitability, financial condition, cash requirements, restrictions under our revolving credit agreement, future prospects and other factors deemed relevant by our Board of Directors.

Company Share Repurchase Program

In September 1999, our Board of Directors authorized the repurchase, at management’s discretion, of up to 7,500,000 shares of common stock in the open market or via private transactions. Shares repurchased under the program are accounted for using the cost method and result in a reduction of shareholders’ equity. No shares were repurchased during the quarters ended March 31, 2012 or 2011. In aggregate, 6,370,913 shares of Common and Class B common stock have been repurchased at a cost of $114.4 million since the inception of the program. The repurchase of up to the remaining 1,129,087 shares authorized for repurchase is subject to certain restrictions included in our revolving credit agreement.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no material changes in market risk from the information provided in Item 7A, Quantitative and Qualitative Disclosures about Market Risk, of the 2011 Annual Report on Form 10-K.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (“the Exchange Act”)) that are, among other things, designed to ensure that information required to be disclosed by us under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer (“CEO”), Senior Vice President (“SVP”) and Chief Financial Officer (“CFO”), to allow for timely decisions regarding required disclosure and appropriate SEC filings.

Our management, with the participation of our CEO, SVP and CFO, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report, and, based on that evaluation, our CEO, SVP and CFO concluded that our disclosure controls and procedures were effective, at a reasonable assurance level, at and as of such date.

Changes in Internal Control over Financial Reporting

We are continuously seeking to improve the efficiency and effectiveness of our operations and of our internal controls. This results in refinements to processes throughout the Company. However, there have been no changes in internal controls over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2012, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. In accordance with the rules and regulations of the SEC, we have not yet assessed the internal control over financial reporting of the 35 locations added by Carrier Enterprise II, which collectively represented approximately 11% of our total consolidated assets at March 31, 2012 and approximately 10% of our consolidated revenues for the three months ended March 31, 2012. From the respective acquisition dates to March 31, 2012, the processes and systems of Carrier Enterprise II did not impact the internal controls over financial reporting for our other consolidated subsidiaries.

17 of 20

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

ITEM 1A. RISK FACTORS

Information about risk factors for the quarter ended March 31, 2012 does not differ materially from that set forth in Part I, Item 1A, of our 2011 Annual Report on Form 10-K.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Recent Sales of Unregistered Securities

On March 14, 2012, we issued 26,991 shares of our Common stock to our Profit Sharing Retirement Plan & Trusts (the “Plans”) representing the employer match under the Plans for the plan year ended December 31, 2011, without registration. This issuance was exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 3(a)(2) thereof. The Plans are profit sharing retirement plans that are qualified under Section 401 of the Internal Revenue Code of 1986, as amended. The assets of the Plans are held in a single trust fund for the benefit of our employees, and no Plan holds assets for the benefit of the employees of any other employer. All of the contributions to the Plans from our employees have been invested in assets other than our Common stock. We have contributed all of the Common stock held by the Plans as a discretionary matching contribution, which, at the time of contribution, was lower in value than the employee contributions that the contribution matched.

18 of 20

ITEM 6. EXHIBITS


2.1		Asset Purchase Agreement dated March 13, 2012 by and between UTC Canada Corporation, Watsco, Inc., Watsco Canada, Inc. and Carrier Enterprise Canada, L.P., filed as Exhibit 2.1 to our Current Report on Form 8-K filed with the SEC on March 14, 2012 and incorporated herein by reference.

10.1 #		Thirteenth Amendment dated January 1, 2012 to Employment Agreement and Incentive Plan dated January 31, 1996 by and between Watsco, Inc. and Albert H. Nahmad.

10.2		Amended and Restated Shareholder Agreement by and between Watsco, Inc. and Carrier Corporation, dated as of January 24, 2012, filed as Exhibit 10.28 to our Annual Report on Form 10-K filed with the SEC on February 29, 2012 and incorporated herein by reference.

10.3		Subscription Agreement dated March 13, 2012 by and between Watsco, Inc., UTC Canada Corporation and Carrier Corporation, filed as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on March 14, 2012 and incorporated herein by reference.

31.1 #		Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a- 15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 #		Certification of Senior Vice President pursuant to Securities Exchange Act Rules 13a-15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.3 #		Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a- 15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 +		Certification of Chief Executive Officer, Senior Vice President and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

101.INS *		XBRL Instance Document.

101.SCH *		XBRL Taxonomy Extension Schema Document.

101.CAL *		XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF *		XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB *		XBRL Taxonomy Extension Label Linkbase Document.

101.PRE *		XBRL Taxonomy Extension Presentation Linkbase Document.

#	filed herewith.

+	furnished herewith.

XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

19 of 20

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	WATSCO, INC.
	(Registrant)

Date: May 9, 2012	By:	/s/ Ana M. Menendez
		Ana M. Menendez
		Chief Financial Officer (on behalf of the Registrant and as Principal Financial Officer)

20 of 20

INDEX TO EXHIBITS


Exhibit No.		Exhibit Description

2.1		Asset Purchase Agreement dated March 13, 2012 by and between UTC Canada Corporation, Watsco, Inc., Watsco Canada, Inc. and Carrier Enterprise Canada, L.P., filed as Exhibit 2.1 to our Current Report on Form 8-K filed with the SEC on March 14, 2012 and incorporated herein by reference.

10.1 #		Thirteenth Amendment dated January 1, 2012 to Employment Agreement and Incentive Plan dated January 31, 1996 by and between Watsco, Inc. and Albert H. Nahmad.

10.2		Amended and Restated Shareholder Agreement by and between Watsco, Inc. and Carrier Corporation, dated as of January 24, 2012, filed as Exhibit 10.28 to our Annual Report on Form 10-K filed with the SEC on February 29, 2012 and incorporated herein by reference.

10.3		Subscription Agreement dated March 13, 2012 by and between Watsco, Inc., UTC Canada Corporation and Carrier Corporation, filed as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on March 14, 2012 and incorporated herein by reference.

31.1 #		Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a- 15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 #		Certification of Senior Vice President pursuant to Securities Exchange Act Rules 13a-15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.3 #		Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a- 15(e) and 15d-15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 +		Certification of Chief Executive Officer, Senior Vice President and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

101.INS *		XBRL Instance Document.

101.SCH *		XBRL Taxonomy Extension Schema Document.

101.CAL *		XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF *		XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB *		XBRL Taxonomy Extension Label Linkbase Document.

101.PRE *		XBRL Taxonomy Extension Presentation Linkbase Document.

#	filed herewith.

+	furnished herewith.

EX-10.1 2 d318124dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

THIRTEENTH AMENDMENT

EMPLOYMENT AGREEMENT

This Thirteenth Amendment to Employment Agreement is made and entered into on this 1st day of January, 2012, by and between WATSCO, INC., a Florida corporation (hereinafter called the “Company”), and ALBERT H. NAHMAD (hereinafter called the “Employee”).

RECITALS

WHEREAS, the Company and the Employee entered into an Employment Agreement effective as of January 31, 1996 (the “Employment Agreement”) pursuant to which the Employee renders certain services to the Company; and

WHEREAS, the Compensation Committee of the Company’s Board of Directors amended the Employment Agreement effective as of January 1, 2001, January 1, 2002, January 1, 2003, January 1, 2004, January 1, 2005, January 1, 2006, January 1, 2007, January 1, 2008, December 10, 2008, January 1, 2009 January 1, 2010 and January 1, 2011; and

WHEREAS, the Compensation Committee of the Company’s Board of Directors has set the targets for the performance based compensation payable by the Company to the Employee for the year 2012; and

WHEREAS, the Company and the Employee now desire to amend the Employment Agreement and Exhibit A-1 to the Employment Agreement to specify the performance based compensation amount payable by the Company to the Employee for the calendar year 2012.

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth in this Thirteenth Amendment, and other good and valuable consideration, the parties to this Thirteenth Amendment agree as follows:

1. All capitalized terms in this Thirteenth Amendment shall have the same meaning as in the Employment Agreement, unless otherwise specified.

2. The Employment Agreement is hereby amended by replacing “Exhibit A-1 — 2011 Performance Goals and Performance Based Compensation” with the attached “Exhibit A-1 — 2012 Performance Goals and Performance Based Compensation” thereto.

3. All other terms and conditions of the Employment Agreement shall remain the same.

IN WITNESS WHEREOF, the parties have caused this Thirteenth Amendment to be duly executed effective as of the day and year first above written.


COMPANY:

WATSCO, INC.

By:		/s/ Barry S. Logan
		Barry S. Logan, Senior Vice President

EMPLOYEE:

/s/ Albert H. Nahmad
Albert H. Nahmad

EXHIBIT A-1

2012 Performance Goals and Performance Based Compensation

Formula

A.	Earnings Per Share

		000,000,000
	Performance Based Compensation Amount
For each $.01 increase	$	65,250

B.	Increase in Common Stock Price

		00,000000
(i) If the closing price of a share of Common Stock on 12/31/12 does not exceed $65.66	$	0
(ii) If the closing price of a share of Common Stock on 12/31/12 exceeds $65.66 but does not equal or exceed $77.00, for each $0.01 increase in per share price of a share of Common Stock above $65.66	$	1,200
(iii) If the closing price of a share of Common Stock on 12/31/12 equals or exceeds $77.00, for each $0.01 increase in per share price of a share of Common Stock above $65.66	$	1,800

II.	Method of Payment

The Performance Based Compensation determined for 2012 under the formula in Section I (the “Performance Based Compensation Amount”) shall be paid in the form of the Company’s grant of a number of shares of Class B Common Stock of the Company (the “Shares”) equal to the amount determined by dividing (x) two times the Performance Based Compensation Amount by (y) the closing price for the Class B Common Stock of the Company on the NYSE Amex Exchange as of the close of trading on December 31, 2012. The value of any fractional shares shall be paid in cash. The Compensation Committee may, in its sole discretion, exercise negative discretion to reduce the Performance Based Compensation Amount by any amount and instead pay the amount by which the Performance Based Compensation Amount has been reduced in cash on a 1 for 1 basis, rather than converting that amount into Shares on a 2 for 1 basis as described above. The restrictions on the Shares shall lapse on the first to occur of (i) October 15, 2022 (ii) termination of the Executive’s employment with the Company by reason of Executive’s disability or death, (iii) the Executive’s termination of employment with the Company for Good Reason; (iv) the Company’s termination of Executive’s employment without Cause, or (v) the occurrence of a Change in Control of the Company (“Good Reason”, “Cause”, and “Change in Control” to be defined in a manner consistent with the most recent grant of Restricted Stock by the Company to the Executive).

III.	2001 Amended and Restated Incentive Compensation Plan

The performance based award and method of payment specified above (the “Award”) were made by the Compensation Committee in accordance with Section 8 of the Company’s 2001 Amended and Restated Incentive Compensation Plan (the “Incentive Plan”) and are subject to the limitations contained in Section 5 of the Incentive Plan. The Award is intended to qualify as “performance based compensation” under Section 162(m) of the Internal Revenue Code.


Dated: Effective as of January 1, 2012				/s/ Paul Manley
				Paul F. Manley, Chairman
				Compensation Committee

				Acknowledged and Accepted:

				/s/ Albert H. Nahmad
				Albert H. Nahmad

EX-31.1 3 d318124dex311.htm EX-31.1 EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Albert H. Nahmad, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Watsco, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 9, 2012

/s/ Albert H. Nahmad

Albert H. Nahmad

Chief Executive Officer

EX-31.2 4 d318124dex312.htm EX-31.2 EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Barry S. Logan, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Watsco, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 9, 2012

/s/ Barry S. Logan

Barry S. Logan

Senior Vice President

EX-31.3 5 d318124dex313.htm EX-31.3 EX-31.3

Exhibit 31.3

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ana M. Menendez, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Watsco, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 9, 2012

/s/ Ana M. Menendez

Ana M. Menendez

Chief Financial Officer

EX-32.1 6 d318124dex321.htm EX-32.1 EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Watsco, Inc. (“Watsco”) for the quarter ended March 31, 2012, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Albert H. Nahmad, as Chief Executive Officer of Watsco, Barry S. Logan, as Senior Vice President of Watsco and Ana M. Menendez, as Chief Financial Officer of Watsco, each hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to our knowledge:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Watsco.

/s/ Albert H. Nahmad

Albert H. Nahmad

Chief Executive Officer

May 9, 2012

/s/ Barry S. Logan

Barry S. Logan

Senior Vice President

May 9, 2012

/s/ Ana M. Menendez

Ana M. Menendez

Chief Financial Officer

May 9, 2012

A signed original of this written statement required by Section 906 has been provided to Watsco and will be retained by Watsco and furnished to the Securities and Exchange Commission or its staff upon request.

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by Watsco for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

EX-101.INS 7 wso-20120331.xml XBRL INSTANCE DOCUMENT 0000105016 wso:CarrierEnterpriseNortheastMember 2011-04-29 0000105016 wso:NewRevolvingCreditFacilityMember 2012-04-24 2012-04-27 0000105016 wso:PreviousRevolvingCreditFacilityMember 2012-01-01 2012-03-31 0000105016 wso:PreviousCarrierEnterpriseISecuredRevolvingCreditAgreementMember 2012-01-01 2012-03-31 0000105016 2012-04-27 0000105016 wso:UtcCanadaCorporationMember 2012-04-25 2012-04-27 0000105016 us-gaap:CommonClassBMember 2011-03-31 0000105016 us-gaap:EmployeeStockMember 2012-01-01 2012-03-31 0000105016 us-gaap:EmployeeStockMember 2011-01-01 2011-03-31 0000105016 us-gaap:StockCompensationPlanMember 2012-01-01 2012-03-31 0000105016 us-gaap:StockCompensationPlanMember 2011-01-01 2011-03-31 0000105016 us-gaap:CommonStockMember 2012-01-01 2012-03-31 0000105016 us-gaap:CommonStockMember 2011-01-01 2011-03-31 0000105016 wso:ClassBCommonStockMember 2012-01-01 2012-03-31 0000105016 us-gaap:CommonStockMember 2012-01-01 2012-03-31 0000105016 wso:ClassBCommonStockMember 2011-01-01 2011-03-31 0000105016 us-gaap:CommonStockMember 2011-01-01 2011-03-31 0000105016 us-gaap:NoncontrollingInterestMember 2012-01-01 2012-03-31 0000105016 us-gaap:NoncontrollingInterestMember 2012-03-31 0000105016 us-gaap:NoncontrollingInterestMember 2011-12-31 0000105016 wso:NewRevolvingCreditFacilityMember 2012-04-27 0000105016 wso:PreviousRevolvingCreditFacilityMember 2012-03-31 0000105016 wso:PreviousCarrierEnterpriseISecuredRevolvingCreditAgreementMember 2012-03-31 0000105016 wso:SwinglineSubfacilityMember 2011-04-27 0000105016 us-gaap:LetterOfCreditMember 2011-04-27 0000105016 wso:NewRevolvingCreditFacilityMember 2012-01-01 2012-03-31 0000105016 2012-04-24 2012-04-27 0000105016 us-gaap:MinimumMember 2012-01-01 2012-03-31 0000105016 us-gaap:MaximumMember 2012-01-01 2012-03-31 0000105016 wso:Scenario2Member 2012-04-27 0000105016 wso:Scenario1Member 2012-04-27 0000105016 us-gaap:MinimumMember wso:Scenario2Member 2012-03-31 0000105016 us-gaap:MinimumMember wso:Scenario1Member 2012-03-31 0000105016 us-gaap:MaximumMember wso:Scenario2Member 2012-03-31 0000105016 us-gaap:MaximumMember wso:Scenario1Member 2012-03-31 0000105016 us-gaap:CommonStockMember 2012-03-31 0000105016 us-gaap:CommonClassBMember 2012-03-31 0000105016 us-gaap:CommonStockMember 2011-12-31 0000105016 us-gaap:CommonClassBMember 2011-12-31 0000105016 wso:CarrierEnterpriseCanadaLPMember 2012-04-27 0000105016 2011-01-01 2011-03-31 0000105016 2011-03-31 0000105016 2010-12-31 0000105016 2012-03-31 0000105016 2011-12-31 0000105016 us-gaap:CommonStockMember 2012-05-04 0000105016 us-gaap:CommonClassBMember 2012-05-04 0000105016 2012-01-01 2012-03-31 utr:Y xbrli:pure iso4217:USD xbrli:shares iso4217:USD xbrli:shares false --12-31 Q1 2012 2012-03-31 10-Q 0000105016 4709432 29682083 Large Accelerated Filer WATSCO INC WSO

127359000

182462000

327664000

339378000

75661000

82361000

355000

348000

352000

336000

238000

167000

-352000

-336000

493519000

498675000

7628

1268148000

1350613000

828177000

910962000

7000

16000

82042000

0.19

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="87%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarter ended March 31,</td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Revenues</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">587,847</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td></tr> <tr><td valign="top"> Net income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,656</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Less: net income attributable to noncontrolling interest</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,662</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Net income attributable to Watsco, Inc.</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,994</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Diluted earnings per share for Common and Class B common stock</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.19</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table> </div>

6994000

587847000

126498000

35535000

15673000

18057000

-90963000

2384000

0.52

0.62

0.50

2350000

17338000

2379000

17364000

7578000

8482000

3622000

5026000

11200000

13508000

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">3.</td> <td valign="top" align="left">OTHER COMPREHENSIVE INCOME </td></tr></table>Other comprehensive income consists of changes in the unrealized gain on available-for-sale securities and the effective portion of a cash flow hedge that matured in October 2011. The tax effects allocated to each component of other comprehensive income are as follows:   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="86%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Unrealized gain on derivative instrument</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">115</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Income tax expense</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">44</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Unrealized gain on derivative instrument, net of tax</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">71</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Unrealized gain on available-for-sale securities</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">25</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">11</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Income tax expense</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">9</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">4</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Unrealized gain on available-for-sale securities, net of tax</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">7</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">78</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>   The changes in accumulated other comprehensive loss, net of tax, are as follows:   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="86%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Derivative instrument:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Beginning balance</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">238</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Current period other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">71</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Ending balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">167</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Available-for-sale securities:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Beginning balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">352</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">355</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Current period other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Ending balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">336</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Accumulated other comprehensive loss, net of tax</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">336</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">515</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> </div>

<div> <div class="MetaData">Basis of Consolidation Watsco, Inc. and its subsidiaries (collectively, "Watsco," which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies ("HVAC/R") in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K. The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation ("Carrier"), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated. The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions. </div> </div>

399353000

482890000

584000

0.0275

0.0175

0.0100

0.00

0.01125

0.00125

43399000

43315000

2617000

3081000

0.21

0.23

0.21

0.23

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">2.</td> <td valign="top" align="left">EARNINGS PER SHARE </td></tr></table> The following table presents the calculation of basic and diluted earnings per common share for our Common and Class B common stock:   <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="78%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Basic Earnings per Share:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Net income attributable to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,500</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,408</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,152</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Earnings allocated to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for basic earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,756,626</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,601,573</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr><td valign="top"> Basic earnings per share for Common and Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.23</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.21</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Allocation of earnings for Basic:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,405</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,755</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">653</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">593</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Diluted Earnings per Share:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Net income attributable to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,500</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,408</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,152</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Earnings allocated to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for basic earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,756,626</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,601,573</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Effect of dilutive stock options</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">77,842</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">92,779</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for diluted earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,834,468</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,694,352</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr><td valign="top"> Diluted earnings per share for Common and Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.23</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.21</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table> Diluted earnings per share for our Common stock assumes the conversion of all of our Class B common stock into Common stock as of the beginning of the fiscal year and adjusts for the dilutive effects of outstanding stock options using the treasury stock method; therefore, no allocation of earnings to Class B common stock is required. As of March 31, 2012 and 2011, our outstanding Class B common stock was convertible into 2,846,334 and 2,858,442 shares of our Common stock, respectively. Diluted earnings per share excluded 7,628 shares for the quarter ended March 31, 2011 related to stock options with an exercise price per share greater than the average market value, resulting in an anti-dilutive effect on diluted earnings per share. No shares were excluded from diluted earnings per share for the quarter ended March 31, 2012 related to stock options. </div>

0.60

725000

148000

725000

148000

319440000

134986000

150622000

15888000

19021000

4766000

5529000

28922000

68067000

-21213000

12234000

110907000

67083000

1899000

600000

75366000

74753000

822000

888000

465349000

532432000

1268148000

1350613000

223039000

307339000

0.0040

0.00125

0.0015

154000000

April 2017

50000000

125000000

300000000

500000000

20000000

42500000

198920000

203946000

198920000

203946000

0.40

-44402000

-3257000

-1635000

-3812000

-44926000

9453000

7500000

8466000

3622000

5026000

6348000

5755000

593000

7058000

6405000

653000

6348000

7058000

16710000

19909000

<div> <div class="MetaData"> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">1.</td> <td valign="top" align="left">BASIS OF PRESENTATION </td></tr></table> <div class="MetaData">Basis of Consolidation Watsco, Inc. and its subsidiaries (collectively, "Watsco," which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies ("HVAC/R") in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K. The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation ("Carrier"), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated. The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions. </div> </div> <div class="MetaData"> Reclassifications Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported. </div> <div> Use of Estimates The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.</div>  Accounting Changes Presentation of Comprehensive Income In June 2011, the Financial Accounting Standards Board issued guidance that required companies to present net income and other comprehensive income in one continuous statement or in two separate but consecutive statements. We added new primary consolidated statements of other comprehensive income which immediately follow our condensed consolidated unaudited statements of income to our condensed consolidated unaudited financial statements. </div>

19491000

21095000

5710000

4731000

78000

16000

115000

71000

44000

11000

25000

4000

9000

19000

16000

601000

424000

1152000

1408000

16938000

20470000

1692000

3883000

32000000

0.50

2648000

1181000

14100000

22500000

57000

71000

2407000

987000

11122000

13492000

39455000

40727000

915000

520000

41000000

76000000

4104000

6784000

11000

-14000

404360000

392356000

534339000

633512000

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="86%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Derivative instrument:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Beginning balance</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">238</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Current period other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">71</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Ending balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">167</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Available-for-sale securities:</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Beginning balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">352</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">355</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Current period other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">7</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Ending balance</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">336</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Accumulated other comprehensive loss, net of tax</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">336</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">515</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> </div>

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="86%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Unrealized gain on derivative instrument</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">115</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Income tax expense</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">44</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Unrealized gain on derivative instrument, net of tax</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">—  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">71</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Unrealized gain on available-for-sale securities</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">25</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">11</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Income tax expense</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">9</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">4</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Unrealized gain on available-for-sale securities, net of tax</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right">7</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Other comprehensive income</td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">16</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right">78</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> </div>

<div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr><td width="78%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" nowrap="nowrap"> Quarters Ended March 31,</td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2012</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center">2011</td> <td valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Basic Earnings per Share:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Net income attributable to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,500</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,408</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,152</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Earnings allocated to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for basic earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,756,626</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,601,573</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr><td valign="top"> Basic earnings per share for Common and Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.23</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.21</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Allocation of earnings for Basic:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,405</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,755</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">653</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">593</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Diluted Earnings per Share:</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td></tr> <tr><td valign="top"> Net income attributable to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,466</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,500</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,408</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,152</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td valign="top"> Earnings allocated to Watsco, Inc. shareholders</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,058</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,348</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for basic earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,756,626</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,601,573</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Effect of dilutive stock options</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">77,842</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">92,779</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Weighted-average Common and Class B common shares outstanding for diluted earnings per share</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,834,468</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">30,694,352</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr><td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td></tr> <tr><td valign="top"> Diluted earnings per share for Common and Class B common stock</td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.23</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.21</td> <td valign="bottom" nowrap="nowrap">  </td></tr></table> </div>

4631000

4341000

118276000

130713000

1497000

2162000

802790000

796013000

1001710000

999959000

27240

26991

3997

2962

391852

58301

65800

21500

1718000

1772000

241000

194000

<div> <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="4%" align="left">8.</td> <td valign="top" align="left">SUBSEQUENT EVENTS </td></tr></table>   On April 27, 2012, we completed the formation of a joint venture with UTC Canada Corporation ("UTC Canada"), an affiliate of Carrier, to distribute Carrier, Bryant and Payne branded residential, light-commercial and commercial applied HVAC products in Canada. The newly formed joint venture, Carrier Enterprise Canada, L.P. ("Carrier Enterprise III"), operates 35 locations throughout all of the provinces and territories in Canada. In the formation of the joint venture, UTC Canada contributed its Canadian distribution business and retained a 40% noncontrolling interest in Carrier Enterprise III. Total consideration paid by us for our 60% controlling interest in Carrier Enterprise III included cash consideration of $82,042 and the issuance to UTC Canada of 1,250,000 shares of Common stock having a fair value of $93,250. The final purchase price is subject to working capital adjustments pursuant to the Asset Purchase Agreement that we entered into with UTC Canada. </div> Also on April 27, 2012, we entered into an unsecured, five-year $500,000 syndicated revolving credit agreement, which replaced in its entirety both our five-year $300,000 revolving credit agreement maturing on August 3, 2012 and Carrier Enterprise I's three-year $125,000 secured revolving credit agreement maturing on July 1, 2012. Proceeds from the new facility were used to pay approximately $154,000 owed under our facilities and for the acquisition of Carrier Enterprise III and may be used for, among other things, funding seasonal working capital needs and other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. Included in the facility are a $50,000 swingline subfacility, a $50,000 letter of credit subfacility and a $75,000 multicurrency borrowing sublimit. Borrowings bear interest at either LIBOR-based rates plus a spread which ranges from 100 to 275 basis-points (LIBOR plus 112.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA, or on rates based on the higher of the Prime rate or the Federal Funds rate, in each case plus a spread which ranges from 0 to 175 basis-points (12.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA. We pay a variable commitment fee on the unused portion of the commitment, ranging from 12.5 to 40 basis-points (15 basis-points at April 27, 2012). The credit agreement matures in April 2017. The revolving credit agreement contains customary affirmative and negative covenants including financial covenants with respect to consolidated leverage and interest coverage ratios and other customary restrictions. </div>

114425000

<div> <div> Use of Estimates The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.</div> </div>

92779

77842

30694352

30834468

30601573

30756626

10656000 12926000 6630000 2858442 2846334 941000 361000 93250000 75000000 3 5 5 2 14 28 35 1152000 1408000 0.41 0.52 <div> <div class="MetaData"> Reclassifications Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported. </div> </div> 3662000 <div> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr><td width="87%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td> </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Noncontrolling interest at December 31, 2011</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">198,920</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr><td valign="top"> Net income attributable to noncontrolling interest</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">5,026</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"><td valign="top"> Noncontrolling interest at March 31, 2012</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">203,946</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px;"><td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table> </div> 1250000 April 30, 2012

EX-101.SCH 8 wso-20120331.xsd XBRL TAXONOMY EXTENSION SCHEMA 00100 - Statement - Condensed Consolidated Statements Of Income link:presentationLink link:calculationLink link:definitionLink 00200 - Statement - Condensed Consolidated Statements Of Comprehensive Income link:presentationLink link:calculationLink link:definitionLink 00300 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00400 - Statement - Condensed Consolidated Statements Of Cash Flows link:presentationLink link:calculationLink link:definitionLink 40202 - Disclosure - Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details) link:presentationLink link:calculationLink link:definitionLink 40301 - Disclosure - Other Comprehensive Income (Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income) (Details) link:presentationLink link:calculationLink link:definitionLink 40402 - Disclosure - Acquisitions (Schedule Of Unaudited Pro Forma Financial Information From Joint Venture) (Details) link:presentationLink link:calculationLink link:definitionLink 00090 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 00305 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 10101 - Disclosure - Basis Of Presentation link:presentationLink link:calculationLink link:definitionLink 10201 - Disclosure - Earnings Per Share link:presentationLink link:calculationLink link:definitionLink 10301 - Disclosure - Other Comprehensive Income link:presentationLink link:calculationLink link:definitionLink 10401 - Disclosure - Acquisitions link:presentationLink link:calculationLink link:definitionLink 10501 - Disclosure - Shareholders' Equity link:presentationLink link:calculationLink link:definitionLink 10601 - Disclosure - Commitments And Contingencies link:presentationLink link:calculationLink link:definitionLink 10701 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 10801 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 20102 - Disclosure - Basis Of Presentation (Policy) link:presentationLink link:calculationLink link:definitionLink 30203 - Disclosure - Earnings Per Share (Tables) link:presentationLink link:calculationLink link:definitionLink 30303 - Disclosure - Other Comprehensive Income (Tables) link:presentationLink link:calculationLink link:definitionLink 30403 - Disclosure - Acquisitions (Tables) link:presentationLink link:calculationLink link:definitionLink 30503 - Disclosure - Shareholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 40101 - Disclosure - Basis Of Presentation (Details) link:presentationLink link:calculationLink link:definitionLink 40201 - Disclosure - Earnings Per Share (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 40302 - Disclosure - Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Loss) (Details) link:presentationLink link:calculationLink link:definitionLink 40401 - Disclosure - Acquisitions (Narrative) link:presentationLink link:calculationLink link:definitionLink 40501 - Disclosure - Shareholders' Equity (Common Stock Dividends, Non-Vested Stock And Stock Options) (Details) link:presentationLink link:calculationLink link:definitionLink 40502 - Disclosure - Shareholders' Equity (Employee Stock Purchase Plan And 401(k) Plan) (Details) link:presentationLink link:calculationLink link:definitionLink 40503 - Disclosure - Shareholders' Equity (Schedule Of Distributions To Noncontrolling Interest) (Details) link:presentationLink link:calculationLink link:definitionLink 40601 - Disclosure - Commitments And Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 40701 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 40801 - Disclosure - Subsequent Events (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 wso-20120331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 wso-20120331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 wso-20120331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Document And Entity Information [Abstract] Document And Entity Information [Abstract] Statement [Table] Class of Stock [Axis] Class Of Stock [Domain] Class of Stock [Domain] Common Stock [Member] Common Stock [Member] Common Class B [Member] Class B Common Stock [Member] Statement [Line Items] Document Type Amendment Flag Document Period End Date Document Fiscal Year Focus Document Fiscal Period Focus Trading Symbol Entity Filer Category Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Common Stock, Shares Outstanding Condensed Consolidated Statements Of Income [Abstract] Revenues Revenues, Total Cost of sales Cost of Goods and Services Sold, Total Gross profit Gross profit Gross profit Selling, general and administrative expenses Selling, General and Administrative Expense, Total Operating income Operating income Interest Expense Interest expense, net Interest Expense, Total Income before income taxes Income before income taxes Income taxes (Benefit) Income tax expense Income tax expense Income taxes Net income Net income Less: net income attributable to noncontrolling interest Less: net income attributable to noncontrolling interest Less: net income attributable to noncontrolling interest Net Income (Loss) Attributable to Noncontrolling Interest, Total Net income attributable to noncontrolling interest Net income attributable to Watsco, Inc. Net income attributable to Watsco, Inc. shareholders Net income attributable to Watsco, Inc. Net income attributable to Watsco, Inc. shareholders Earnings Per Share [Abstract] Earnings per share for Common and Class B common stock: Basic Earnings Per Share, Basic, Total Basic earnings per share for Common and Class B common stock Diluted Diluted earnings per share for Common and Class B common stock Earnings Per Share, Diluted, Total Diluted earnings per share for Common and Class B common stock Condensed Consolidated Statements Of Comprehensive Income [Abstract] Unrealized gain on derivative instrument arising during the period Unrealized gain on derivative instrument, net of tax Unrealized gain on derivative instrument, net of tax Current period other comprehensive income Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax Unrealized gain on available-for-sale securities arising during the period Unrealized gain on available-for-sale securities, net of tax Current period other comprehensive income Other Comprehensive Income (Loss), Net of Tax Other comprehensive income Other comprehensive income Current period other comprehensive income Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest Comprehensive income Comprehensive income Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest Less: comprehensive income attributable to noncontrolling interest Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest, Total Less: comprehensive income attributable to noncontrolling interest Comprehensive Income (Loss), Net of Tax, Attributable to Parent Comprehensive income attributable to Watsco, Inc. Condensed Consolidated Balance Sheets [Abstract] AssetsAbstract ASSETS Current assets: Cash and cash equivalents Cash and cash equivalents at end of period Cash and cash equivalents at beginning of period Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value, Total Accounts receivable, net Accounts Receivable, Net, Current, Total Inventories Inventory, Net, Total Other current assets Total current assets Total current assets Property and equipment, net Property, Plant and Equipment, Net, Ending Balance Property, Plant and Equipment, Net, Beginning Balance Property and equipment, net Goodwill Goodwill, Ending Balance Goodwill, Beginning Balance Goodwill, Total Intangible assets Intangible assets, net Intangible Assets, Net (Excluding Goodwill), Total Other assets Other Assets, Noncurrent, Total Assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Other Long-term Debt, Current Current portion of long-term obligations Line of Credit, Current Borrowings under revolving credit agreements Accounts payable Accounts Payable, Current, Total Accrued expenses and other current liabilities Accrued Liabilities, Current, Total Total current liabilities Total current liabilities Deferred Tax and Other Liabilities, Noncurrent Deferred income taxes and other liabilities Deferred income taxes and other liabilities Commitments and contingencies (Notes 10 and 12) Commitments and contingencies Commitments and contingencies (Note 9) Watsco, Inc. shareholders' equity: Common stock, $0.50 par value, 60,000,000 shares authorized; 34,447,037 and 34,209,913 shares issued in 2010 and 2009, respectively Common Stock, Value, Issued, Ending Balance Common Stock, Value, Issued, Beginning Balance Common stock, $0.50 par value Common Stock, Value, Issued, Total Common stock, $0.50 par value Preferred stock, $0.50 par value, 10,000,000 shares authorized; no shares issued Preferred stock, $0.50 par value Preferred Stock, Value, Issued, Ending Balance Preferred Stock, Value, Issued, Beginning Balance Preferred stock, $0.50 par value Preferred Stock, Value, Issued, Total Preferred stock, $.50 par value Paid-in capital Additional Paid in Capital, Ending Balance Additional Paid in Capital, Beginning Balance Additional Paid in Capital, Total Accumulated other comprehensive loss, net of tax Accumulated other comprehensive loss, net of tax Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance Accumulated Other Comprehensive Income (Loss), Net of Tax, Total Retained earnings Retained Earnings (Accumulated Deficit), Ending Balance Retained Earnings (Accumulated Deficit), Beginning Balance Retained Earnings (Accumulated Deficit), Total Treasury stock, at cost Treasury stock, at cost Treasury Stock, Value, Ending Balance Treasury Stock, Value, Beginning Balance Cost of repurchased shares Total Watsco, Inc. shareholders' equity Stockholders' Equity Attributable to Parent, Ending Balance Stockholders' Equity Attributable to Parent, Beginning Balance Total Watsco, Inc. shareholders' equity Noncontrolling interest Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance Stockholders' Equity Attributable to Noncontrolling Interest, Beginning Balance Stockholders' Equity Attributable to Noncontrolling Interest, Total Total shareholders' equity Ending balance Beginning balance Total shareholders' equity Liabilities and Stockholders' Equity Total liabilities and shareholders' equity Common stock, par value Preferred stock, par value Condensed Consolidated Statements Of Cash Flows [Abstract] Cash flows from operating activities: Adjustments to reconcile net income to net cash used in operating activities: Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization Depreciation, Depletion and Amortization, Total Share-based compensation Share-based Compensation, Total Stock Issued During Period, Value, Employee Benefit Plan Non-cash contribution for 401(k) plan Non-cash contribution for 401(k) plan Common stock contribution to 401(k) plan Provision for doubtful accounts Provision for doubtful accounts Excess Tax Benefit from Share-based Compensation, Operating Activities Excess tax benefits from share-based compensation Other, net Other, net Other Noncash Income (Expense), Total Other, net Changes in operating assets and liabilities: Changes in operating assets and liabilities: Accounts receivable Accounts receivable Increase (Decrease) in Inventories Inventories Increase (Decrease) in Inventories, Total Accounts payable and other liabilities Increase (Decrease) in Accounts Payable, Total Increase (Decrease) in Other Operating Assets and Liabilities, Net Other, net Other, net Increase (Decrease) in Other Operating Assets and Liabilities, Net, Total Net cash provided by operating activities Net cash provided by (used in) operating activities Cash flows from investing activities: Capital expenditures Capital expenditures Payments to Acquire Property, Plant, and Equipment, Total Proceeds from sale of property and equipment Proceeds from Sale of Property, Plant, and Equipment, Total Net cash used in investing activities Net cash used in investing activities Cash flows from financing activities: Dividends on Common and Class B common stock Dividends on Common and Class B common stock Dividends on Common and Class B common stock Cash Distributions to Noncontrolling Interest Cash Distributions to Noncontrolling Interest Distributions to noncontrolling interest Distributions to noncontrolling interest Payments to Noncontrolling Interests Return of capital contribution to noncontrolling interest Return of capital contribution to noncontrolling interest Return of capital contribution to noncontrolling interest Net repayments of other long-term obligations Net proceeds from (repayments of) long-term obligations Excess Tax Benefit From Share Based Compensation Financing Activities Excess tax benefits from share-based compensation Excess tax benefits from share-based compensation Net proceeds from issuances of common stock Proceeds from (Repayments of) Lines of Credit Net borrowings under revolving credit agreements Proceeds from (Repayments of) Lines of Credit, Total Net proceeds under revolving credit agreements Net cash used in financing activities Net cash used in financing activities Net increase in cash and cash equivalents Net increase (decrease) in cash and cash equivalents Basis Of Presentation [Abstract] Basis Of Presentation [Abstract] Organization Consolidation And Presentation Of Financial Statements Disclosure Text Block Basis Of Presentation Basis of Presentation Earnings Per Share [TextBlock] EarningsPerShareTextBlock Earnings Per Share Earnings Per Share Other Comprehensive Income [Abstract] Other Comprehensive Income [Abstract] Comprehensive Income Note [TextBlock] COMPREHENSIVE INCOME Other Comprehensive Income Acquisitions [Abstract] Business Combination Disclosure Text Block Acquisitions Shareholders' Equity [Abstract] Stockholders Equity Note Disclosure [TextBlock] Shareholders' Equity Commitments And Contingencies [Abstract] Commitments And Contingencies Disclosure [TextBlock] Commitments And Contingencies Related Party Transactions [Abstract] dup_1_Related Party Transaction, Due from (to) Related Party, Noncurrent, Total Related Party Transactions Disclosure [TextBlock] Related Party Transactions Subsequent Events [Abstract] Subsequent Events [Text Block] Subsequent Events Consolidation, Policy [Policy Text Block] Basis Of Consolidation Prior Period Reclassification Adjustment [Policy Text Block] Prior Period Reclassification Adjustment [Policy Text Blcok] Reclassifications Use of Estimates, Policy [Policy Text Block] Use Of Estimates Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Schedule Of Basic And Diluted Earnings Per Common Share Schedule of Comprehensive Income (Loss) [Table Text Block] Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income Components of Comprehensive Income Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] Schedule Of Accumulated Other Comprehensive Loss Business Acquisition, Pro Forma Information [Table Text Block] Schedule Of Unaudited Pro Forma Financial Information Schedule Of Unaudited Pro Forma Financial Information From Joint Venture Schedule Of Shareholders Equity Attributable To Noncontrolling Interest [Table Text Block] Schedule Of Shareholders Equity Attributable To Noncontrolling Interest [Table Text Block] Schedule Of Shareholders' Equity Attributable To The Noncontrolling Interest Schedule Of Distributions To Noncontrolling Interest Number of joint ventures. Number Of Joint Ventures Number of joint ventures Controlling interest, ownership percentage Ownership percentage by noncontrolling owners Controlling interest, ownership percentage Controlling interest in Carrier Enterprise, LLC Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table] Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] Convertible class B common stock outstanding Convertible Class B Common Stock Outstanding Convertible Class B common stock outstanding Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount Anti-dilutive stock options not included above Anti-dilutive stock options not included in computation of diluted earnings per share Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table] Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] Participating Securities, Distributed and Undistributed Earnings Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock Earnings allocated to Watsco, Inc. shareholders Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - basic Net Income (Loss) Available to Common Stockholders, Basic Earnings allocated to Watsco, Inc. shareholders - basic Earnings allocated to Watsco, Inc. shareholders - basic Weighted Average Number of Shares Outstanding, Basic Weighted-average Common and Class B common shares outstanding for basic earnings per share Weighted Average Number of Shares Outstanding, Basic, Total Weighted-average Common and Class B common shares outstanding for basic earnings per share Participating Securities, Distributed and Undistributed Earnings, After Dilution Participating Securities, Distributed and Undistributed Earnings, After Dilution Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - diluted Net Income (Loss) Available to Common Stockholders, Diluted Earnings allocated to Watsco, Inc. shareholders - diluted Earnings allocated to Watsco, Inc. shareholders - diluted Weighted Average Number Diluted Shares Outstanding Adjustment Weighted Average Number Diluted Shares Outstanding Adjustment, Total Effect of dilutive stock options Weighted Average Number of Shares Outstanding, Diluted Weighted-average Common and Class B common shares outstanding for diluted earnings per share Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax Unrealized gain on derivative instrument Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax Income tax expense Other Comprehensive Income, Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax Unrealized gain on available-for-sale securities Other Comprehensive Income, Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax Income tax expense Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax Ending balance, Derivative instrument Beginning balance, Derivative instrument Accumulated other comprehensive loss Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax Ending balance, Available-for-sale securities Beginning balance, Available-for-sale securities Changes in unrealized losses on available-for-sale securities, net of income tax expense of $4 and $5, respectively Related Party Transactions, by Related Party [Axis] Related Party [Domain] Related Party [Domain] Carrier Enterprise Northeast [Member] Carrier Enterprise Northeast [Member] Carrier Enterprise And Carrier Enterprise Northeast [Member] Number of Locations Contributed To Joint Venture by Noncontrolling Interest Number of Locations Contributed To Joint Venture by Noncontrolling Interest Number of locations contributed to joint venture by controlling interest Number of locations contributed to joint venture by noncontrolling interest Number Of Locations Contributed To Joint Venture By Controlling Interest Number Of Locations Contributed To Joint Venture By Controlling Interest Number of locations contributed to joint venture by controlling interest Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners Noncontrolling interest in Carrier Enterprise III Noncontrolling interest, ownership percentage Business Acquisition, Pro Forma Revenue Revenues Business Acquisitions Pro Forma Profit Loss Business Acquisitions Pro Forma Proft Loss Net income Net income Pro Forma Net Income Loss Attributable To Noncontrolling Interest Pro Forma Net Income Loss Attributable To Noncontrolling Interest Less: net income attributable to noncontrolling interest Less: net income attributable to noncontrolling interest Business Acquisition, Pro Forma Net Income (Loss) Net income attributable to Watsco, Inc. Net income attributable to Watsco, Inc. Net income Business Acquisition, Pro Forma Earnings Per Share, Diluted Diluted earnings per share for Common and Class B common stock Disclosure, Equity Components [Table] Disclosure, Equity Components [Table] Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Award Type and Plan Name [Axis] Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain] Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain] Disclosure Equity Components [Line Items] Disclosure Equity Components [Line Items] Cash dividends declared on Common Cash dividends declared on Common and Class B common stock Cash dividends paid per share of Common and Class B common stock Issuances of non-vested (restricted) shares of common stock, shares Shares of non-vested restricted stock granted Shares of non-vested (restricted) stock granted Common stock contribution to 401(k) plan, shares Options, Exercised Options, Exercised Stock options exercised, shares Proceeds from Stock Options Exercised Stock options exercised, value Subsidiary, Sale of Stock [Axis] Sale Of Stock Name Of Transaction [Domain] Sale of Stock, Name of Transaction [Domain] Employee Stock [Member] Employee Stock Purchase Plan [Member] Stock Compensation Plan [Member] 401(k) Plan [Member] Common stock available for purchase by full-time employees Common stock issued under employee stock purchase plan, shares Stock issuances from exercise of stock options and employee stock purchase plan, shares Stock Issued During Period Value Employee Stock Purchase Plan Common stock issued under employee stock purchase plan, net proceeds Stock issuances from exercise of stock options and employee stock purchase plan Stock Issued During Period, Shares, Employee Benefit Plan Common stock contribution to 401(k) plan, shares Common stock issued to profit sharing retirement plan, shares Noncontrolling Interest [Table] Statement, Equity Components [Axis] Equity Component [Domain] Equity Component [Domain] Noncontrolling Interest [Member] Noncontrolling Interest [Member] Noncontrolling Interest [Line Items] Noncontrolling Interest in Joint Ventures Noncontrolling interest at March 31, 2012 Noncontrolling interest at December 31, 2011 Noncontrolling interest at March 31, 2011 Self Insurance Reserve Self-insurance reserves Schedule of Related Party Transactions, by Related Party [Table] Related Party Transaction [Line Items] Percentage of Total Purchases From Related Party Percentage of Total Purchases From Related Party Percentage of total purchases from Carrier and its affiliates Related Party Transaction, Due from (to) Related Party Amount payable to Carrier Corporation and its affiliates, net of receivables Amount payable to Carrier Corporation and its affiliates, net of receivables Related Party Transaction, Due from (to) Related Party, Total Amount payable to Carrier Enterprise and its affiliates, net of receivables Related Party Transaction, Revenues from Transactions with Related Party Revenues from sales to Carrier Corporation and its affiliates Termination period of related party transaction agreement. Termination period of related party transaction agreement Transaction Service Agreements, termination date Related Party Transaction, Transactional Services Agreements Fees Fees related to Transactional Services Agreements with Carrier Corporation Costs And Expenses Payable To Related Party Costs And Expenses Payable To Related Party Amount payable to Carrier related to TSA Subsequent Event [Table] Statement, Scenario [Axis] Scenario Unspecified [Domain] Scenario, Unspecified [Domain] Scenario 1 [Member] Scenario1 [Member] Scenario 1 [Member] EX-101.PRE 12 wso-20120331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 13 g318124tx_pg001.jpg GRAPHIC begin 644 g318124tx_pg001.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`)P"Q`P$1``(1`0,1`?_$`*T```("`@,!`0`````` M```````*"0L&!P0%"`(#`0`"`@,!`0``````````````!@0'`@,%`0@0```& M`@(!`P,!`PH'``````$"`P0%!@<($0D2`!,*(2(4,5$R%4%AD=%"DB06%QIQ M4M)3)A@9$0`!`@4"!`('!08$!P`````!$0(A,0,$!0!!46$2!G$3\(&1H2(R M%+'10B,5P?%2C1H] M&C1Z-&CT:-'HT:/1HT>C1H]&C1Z-&H\^R7L'QYUW83K&0[2V962]Y0RI0,.8 M>QVM(*1[BZW.Z62-CGIS.&[9ZY9PU4KJ[J3?.01,0A6Y$A$#KI\]#'X^M?U" MVD/A:(G@L![_`'`ZCW%RVW:"8N*H%204QD(:D,]<_4C1Z-&CT:-'HT:/1HT> MC1H]&C1Z-&CT:-'HT:/1HT>C1I>SO:[2=U>K*'PIE'!6!,,Y6P7D!Y*4N\6[ M(@Y!4EJ5DSR%_5HI5"HS,,Q;PEI@T7'XJBQC**/&BB7)0,01[_;^)HYBZ-K4 MG>F3M)@NU#5<^4Y M.(KE(SECVRO*3G/&=;<2*L76ILZKE[5YZ`"8<.I52IW*N@1=HHLJJ8KE!T@) MS&0,/J/F<17P]T;>JI:L#L>2H%\=]M2\=?T\A:MKL^8@$P(GRC]I3=#J6:5E M8V#C9&9F7S6+B(A@\E)63?KD:L8Z.CT#NGKYZZ5$J+9HT;)F444.8I2$*)A' M@!$.2UI>X,;%QEJ<81*=(Y^GIXZ7$ZT/D#X_WZ[#-EM1U(NKUC';9R_?:87) M$9!M.YA@:`5RQR&$^+Y\LP5E9M!K_F�:(HF"&(X*J)U43>++E.W+C'6-.Z M<"I:"Z>Z2@(`^M"IUR+/,VUU>/LVG\QI*>J?'A.!50D%TR7Z6==C2J7=G\BN MQ=NK9(1YQD' MB2JIO::N69"D\UQ,1S[<[2J9NV?>U'.;:L52$V\0?\1*.N%E\M5L*K*%!H=7 M?($'[01/8Q6/`ZR38'Y%S?1+7##S+<##\#:.Q/)6.6.4K5JIA"3D:[4<+5^V MF-+T>*S'<[L^LTQ1[*YJ3ENLX9?B/7AW0*^+=)N4JQHEIVS1$?(=K-L+?SS7:]QJ=(:"%)/4GO" M3]D@S6>:J757H?;OIL`4EW4(*-^G81*P'L)Z?*GS%]*:5=[+7Z/KIG3)E/B) MJ1B(#(J,TWVV7?SL*U>ZYL3$R]LW= MU:_&R;I:,IE.K[).>R+DB;;$25=PE#JPNV)I=XP;+D7WE'S>MZ1 MY1D8LCDY(U]/Y=IE>?NV7U]IX[BT:Y,),3JAR(I%6_\`K;(? M3MK5:])CBL#"/")&_I`D*O\`>=N')]/5G[N)ULI=WT:[NBC;U>OGU2F23T($$3R'.#"F4NW/!FIFFV'-I-\XAYK M+?F*MD;6C:_5O^%A;U`$B6T8#UR/NU M!3+_`#,->&K]^C$Z4YF>QB3M8D:]E3HE<. M`2$!`3\@/#5_\[NFN#7W-,.(5$\.)W6'JYHM_P!XVH<6BC4>03\L1#P!,!Q` M7;74L_F<8.7DF*"^CV5"1JCM$DBZ9YBHSV1;,A.4'*[*,/76:3URBGY&*D=P M@4XE\3')R)BZZG8%RVFY[+ACB!`),A(0)C%$X^!U[_>-KU(:%5K>)5/'Y$"3 MB9>(TQ=UZ=KVFG9C5Y"4UQR`N2[UUD60NN%[XT:UC+E+8G>"P3DY:KDD)%%] M`KNP`BN1'L18*=,5ED+6_IA]N MX'B%6(GJ23G_`(_T#_5ZX?FMX._TN^[4]->9MQM5,9;LZUY8UDRXR_(IN4ZP MZA3R*"""TK5YU,Q'E:N$`==,X-9VKSB"#QLJ42F`Z7B(^)C>NA8WE:PN6W-` MD/:?:-Q,?O0S&H]S;4KN@:%8*T^&T5C]VJSS0/9/,O0OVI6JD9F2D&U/K]R6 MP9M16T^&D9:L8.Y%-U5LQ5]B8I4C#`,W36SQ2AA%96,7=-1,45C@E;U_1MN[ M<`+MHZ;]@!5$4_B((F!\4TZN(F$.PN'8+*FQK`^2]R,/(KTMDL1T@A#'I*B* M,M_)Z[:H;%>NM;TKUSNK*2R#M51HVYY)N-:DA5"K:U6(@+1:#"18*E50?YJ, M04$%"F`/X"W>&'[5TC>D_LSMU^2R9JW#0*=`DD.DK)@P.X3Q!W&F#N/+''6P MHTPM>LT],0!N%FNQVC)0O4$C4\6[::-N-.]PD:O.XG-DHA,Y:M7XW^'2GV^/ M["V0%P=HR.5RP;R"9DECL'/M'>PCY-7P%!4?^X^_]K%6ZD8OB%95$3*'0BYENI)*JB)1-7D?R0$HF M*'JFZG;-^,^_"M:M817;I1?';I,HCD4M/]0I-L?K:C@6](6:$R'IL-]*<=!6 MB-Q[.-[;;"ZC,O[&2[E6W0%2%)Z"C96MT9,C>7 M?,!*9!%NE'LO$$E/L>>X,D>W\33P..2<[[,7^`F4BJQM MGBZ5-"ACFFR[!Z4X+5!D\=PS0\?R=$[!F#<2E2Y*7?F7N[?[3H/M"UOF4XD$ M?,2BI_"!(RZ@L2(1+-M/)=QO\U3T&&R@*4)`55`*30HL(65*.M.N32OZ;@16JH-NHD>PJ/=KSZ6UGY5-4 M3Y1]VJ_CXU]AL6#>ZJ;U^CIIR_IM\KVS6$[RS>\KLKA&XJ-.SE9?2;+\9-NN M_0?5#R\SI^)2NG!``I3B4MH]W4!>=NT;]X'U(F44H"$*RDLB2A2,@D=OU/)S M=>UHJ*"`M!@B@DH$C$``2`&PEK?Y`=&IU([R9ZJTRJU6H5CWM/5$:S6*]#P5 M>#^(Q-12>`,1&,6L:`O%""9YK_`(F.?@J'CC)IJLP@G4N[GH8T!D&0AF<V-E6J,RB"N> MHDD++;I,04!1#)=,*_[D_I"0\A;]<>1?,OVB5/5[5U`_!3%^GW7\@\%XY^O' M`A_,/"C3[5[G=`5:@W^9Z"#U"8(:SN[D[=`Z1584$ND[>#2(1/)(3&I'> MNOO$Z@MG\PU_%^&L?H:M9QO!W%6I<-D'"]%QF]NR[A=DHE58.[4-Q-P"\E,K M(D.WC%WR"KH[?@A#*D*3URL75+%U=TZP'=$:O% M-6#N\95Q51,C9'MT@DF'YE@MMPL]??RDI+23D3*GX,F@D(@1%--,A"%J^XS^ M8N:IJ5*[T/!W"4$\?)VAZDD.`UOIAU[Z%Q3QI(QFE6J M+!^P=-WS%XSU[Q.W=,GC1G MZ9XR,83KL,?TB%DFL?9IV)CS%.W"2DWPR#++JH@IR5`@)6QB6'"]HMR M;.@/J4^I4)CT6;JZ9:Q?2LFY#M3PGDHYF[3;[9`OY"2DGRZICF M`GM-TOH1%--,A"%K"XS>2N*QJFM4!).Z(NW,>B:<+?$X^V:E.DPN(`)(!EPG MTB<`@39-9CDCJ0ZS.=1SJ0I>'*)0[3%BZ1.B62K=MJ$ M'#V&N3#(3`HW#<_ M-()H2MVH[=HW8R,C"P]Y;?D']LB"[^,313+_))1"FRH0@D0JD\5@`.FT=]I/_MD_N%_J]4A MY;/X1[-69UOXGVZ^_6>L=)J_+"ZU'&3L65;L3Q'7?RKMA%@UH^PD?%,"G?3^ M'7SX`KM^7(D@<[ISC"==>RY4'DQ8:0.+2 M?^)-R([$*7=F-^IM#=L'Y[&F($5*)$1'#D4TK9U":`7/M6W?H.*[:^LLWA7' M$1!6_8&XO9%\_5AL/TH48NMXYBY>2%5=DIR3B"*:735]1LQ:LVM&\M6+D,? M0O[%UC4`Z"T`<@"#^P#]VJLS'&.=A,TY`HFFU%:7*0N5QS,2!KV%7SF28PT3 MFZ712I-@F)&O.`_AL#.0<:Q.A+O3HE<(,&"GF)"$$$[]N[G'4K9_<3@T.-,. M!<`%*"1(0;1W0[ITU71M\A5R!Q#C4--CBTH4*!47PY[HJ`0MTNO_`$FB@_9U&KND;Q:6C4C%[>KY9P4>7FY/E")E64=RLFZ.5N93DZ+)%NB'! M$BE+\WWU_6N[PW50N7X\O6;$I&3\+(("`E5;NFZ2I!*/(L@4#JB!2`8_Y MG@4.?U$1`"\#R(<#QZ[`YAGS4'^[[]`R-F9/A_*Z'C"'KT@WT6R\1*_(:ILW M!O6\E"SV5-V)&$E4%`%K+PLM6"3M&0(URODEOD8#O-MD M\_,+:,BZ]J).R+U5%046D=%Q,,Y=/#"5$14;H)1RAC"43<>V/`#HR"\_9R3WN+X4`'4%)A&FT>J8WXFIKR3I4JC]\RI]-RO!UN'4=+\J'(S;()>X)A`H#^C M%:9'NJU8VE195A)6%>0VDD-PG(:AU,?B:E3SJK:9<09D']LE,-EXIK$!Z?/B MYG4_++D7`)2*^)B)%["ILK`'R^O("'U_=#B:>X.]"^#*@?U M'^F?6/=+EJ-])@$+BVB001(>D..TSQTG/VH8NU0U0[&9JI]=62$;AAZD/L/W M*HR=?MSC(L?3,F%>1LS)5FJY!%W(+6UM#23%FX26!\Y.BNY,W,N(H#[;WBG7 M^5[?N*V:814I@E'*URR`DH"!?"`,(*E_1MZ.?HFQ#13 ML^].H7#5ON@D]@9:KR2[:_RVM^W=62>ME&S&Q.(>%IBEPA(]Z[:"B4\;<:2] M9G3`QQ;BHF)BAR7PYG;]6E?X.IC;8=-1A<)E2)0XF"\3"""&_/6]2PS='(O^ M*D](A0`X+!4@"=RO"!,+`?7#MUZ[-FL35?+=.VQPC5&-A9IG?U'*.2*EC2]5 M66(BF,E`V"K7:5@9=J[C')Q3%8J1VJ_B)D5#D^OJL;K!Y.UJ.8:-5S`2`X-< MA3=$A"8F-.C,E9.8USJE,.0O[3;$XB#D` M$0$0_P#+_J`"4>?V<#ZC?IF1']"M'_([[M217MS$5*2(OSME[=5H.Y^:JKK! MWZ9#VJJMIK.6,?4G=:G;)QUFQ?8(&X1-BI$RK7;C*,(&7A'$C!/YAK%O'C,R M7N@!7B7MF`@@/A;N*Q=>\[7;0JJ%I)TD(4((E-!X&,(3U7&7R-*AW!YM,@@0 M@B*JDD[(0IB(!92LH<$=BFD&R&-:WEC%&T&&9BI6>,0DFR4O?JS5[)$&4%0K MB,L]4L4E&6*MS+!=,Z2[9XV24(<@\>1>##4]7#92E4=3^GK.+7$*&.(A"'PR MWC&.VK$9>6E5C7,J4RH7Y@OKC.!]AUFMTW7T\Q]79.U7/:?7RNP,2R=2#V0? M9>H7!&S-)19<6[5*=6=OUP(D;Q103464,'B0HFX#UK9C,BYW2+>LO\CA[TAK M-UQ0IM\RHYHICGZ;1U7(U>ULNV+Y'=/RK@B`F5,>7/;7'61FCMXS4*[##>NC M6`=2=^G&#ENV5AFMBB:`5 M23!"\FUS2:T:LWI/ M+VC7UZ\UCK"\D-*"_P`=WQCE4U<)C!Y3;.TR,>X/&<=4R41Q"O4;::SR$@NU M8,*^6`.X%XLNJFDDW\S',4H"(;*1J-J-=27S`8)&/AOKQW2GQ)TZBKZ;-7NN M;4W"^3\==>V?L6;(1$KDQ_8JV#\E?'E+LTWCB4DVS"(I].* M1E#).?!19!-5Q]QUE!]3\G7R%=],Y!KVN#$;U-(4+,*!"0\$U'M:=%C7_3E6 M%\4*A?L6?B5U,1ZYFI.H*,':F=552[>\V[6XTV-UWLNZ&1(&6IZFL\'EG%,K M<\;9.C6;G_72_1&.XNTN;TVO]LKS1NG/)JQZ9X])-XH?C\Q7P[]S=9MV,;;W M+*XL``CG-(:0#_$6[_#OL.)6!0I6;;ZK4I.:;HIU`$=0',*8+U&4RY5VG7]< M#4_4(/:EK+TJ[-33"I]AN5-8,/9T)42DI]VMFPN-,#Y\AZFLY<@T=Q2UDM$0 M_GJTF^]WV4Y%C(1Q5?/P(!N1],6#NNX;8]6'9\I"IF$0*!`'[0^@_0`^WQ<:O#B!5Q];JA.E54H1OT@S^[2U^C]LFF$ MN:?3U0_-9T^"`@+Q(3PULS!O3#\<[%N7<99&D.VG$N8B4>YP-E)C.\[B:7KT MR].HN01<0]?LD?6VD/-/XEW-_B"JV;NDORA(5$?M/QZB9'N'NRO1+#8U:4T) MI5)[3:BCP19@RU(ML7VY3<>FM3<=_P`T<"LG+)5B(*O+V]H]U;]4&%.SAILQ MA'LRJ^9MEPOV<;'$ZX,,]:TV1\2:O<=:"6R`;TFFE&^K)4>,FG0@@0I56J+8 M@J^)4?IR\EENYJ^*\C(6U9M#IBXL>UOO`'@I3U0UTK:WPU._=5M74C6ZFL4HU`% MYHU))^Y$Y'Z/@2`#6D1Y50!(+$-5917ANAUI.#[ M>ZE-TW?^KX_YT]W%"-NF5Z"^D\5#>Q\@#7),O@8$RK97TS74*(F$3&.H3*B' MN%^X/[)1#]OZ`&H=T=P`_P#BW=:1^"KRY>'.,Y)F["8%T?J6I_ND#?A4'HNO M2FHG2WT8X5V`Q7E*\=Q^MNR;:DW""G:OB!UG;5>IU^W79E*MU:X>[J]A5HML:]*VA'I# M_D[]-<@+XF^@Y?TV$.!_='R_U1``\0.7^@..."^,T=V]W*HQ;^K_`&:GV=/\ MLO5/67Z)@>I/JXE?ZHY\^9AXI*'X?_`KIH.5,([Y`FN:).1]@0R;J(N`)5.J![`U.'[$4'49V%[9ZT==4 MO,*?-4"R,_C!6)1>$BFNDD.@/IP46$?]PCJTD/!P,5[?M2%E0\C)B41.3/3, MPB4_C^H?L`./IQY3[J[C4DXJL0DFLJCP7X##TX#4BEA,"6K1NF=.W34"?BX/ M3?;8'7/B.@GI8(_;*2?R!=:7S`%1,X:PF3M/89^JGR'F1L_7S)-(M51$P_<9 MLKP(AP4/$``=W5W)TD#%U5A$LJ'P_II.7-.6MGZ1V\(U[@%B*CJH`2**IA`\ MI>QH+J"U0Z@-3"VRD]?F=\#;%9S=UALXRQDJOY[Q1FS.DO3R23U2_(TGTFP^$L+?!5`)@B;(B#3# :C:6-HT.G&&F:'%C@X>T0\434Y'I?UT=?_]D_ ` end ZIP 14 0001193125-12-220966-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-12-220966-xbrl.zip M4$L#!!0````(`-Q>J4!B;>#:4$X``-G:`P`0`!P`=W-O+3(P,3(P,S,Q+GAM M;%54"0`#4).J3U"3JD]U>`L``00E#@``!#D!``#L'=ERX[CQ/57Y!T2;W;Q8 MMJC;&GM2'HTGJV1\K.W))D\NB(0D[/+0$J1EY>O3#9`4)9$Z+,HZAINJC$R" MZ+O1W6B"%W]_M4SRPES!'?NRH)V6"H39NF-PNW]9\$61"IWSPM\__OE/%W\I M%O_SZ>$K,1S=MYCM$=UEU&,&&7%O0-JN(T2/NXQTQ^2!OS"//#H];T3A2C`_ MJ9UJIUJU>5HB`\\;ML[.1J/1J8MC13#T5'>L8C&`]HD*F!V>DV#+IUITIQU` M=NP6J9TUS\HEK4PJK:K6JC7)_8T:]]IU30+DV>*R$(.'ET\=MP\/E2IGW!8> MM7564"-;)K=_7S`<;W5#K'-MCKZ#73/=`G:66P1T]N,R-R\*5>+[K/5>?R^?/R/3G0`+/ M#\Q$A;VGKC=^MRYE[#Q.[0Y8+=.JXW8%1X M-\SJLH`V@`UFR+UQ\!?\S0V\TH-GB:293?$H5*-VYU^%CR7X3RO52EK]XFSR MV&0JP?IHY=$%N*2TM,5>AR;7>8`+,3B,4_XC(+>U.KF%CT!O:QF]%V>)H"?( MGDUC>W$VQ9B+(7.Y8\38))7)^Z@,HUHLGU^J:(KD8#F6U,#VO@U$9LT-J2U^!_ MH>`KSQ5M)<'?N^R%.[XX2NFO1-RV50!7O!54H`*KXFY58,[Y=6"!\8%C,^R[ MZKN,X0S'H1QO)/L(U"8*$M0:L75!KK$:1CYQ\]6PEK`:0OSZ_)7UJ7DM$8I, MX9NGMZE-#=IVW*&CYMAO+0=*6C.4*/5.)^4=UKS:EM<\I;FAAYN$MX\>S(6H MMTTJQ%WOT7/TWZ5TPQ%MQ[(<6][^M-^2#?U7*DV%C^&0>:*V&Z@JI[.A:2Y> MJQ[]KN`&I^[XD9HL29+7D#0Y8\;DG0,191I1$U$F4'4$*\VLT+6XT+5#+FG8QG/C:AK MR/][&@_9E6W)U?$[U81OSN/ MJ$+&0UI&WT/]YKB2>[]:X!9ZVM.16?L2N?6VAYU9^V`)?YM:O__"!``R3'!O^%%-"OW5L MG-MU3)/;_0YNNK%#Z2992.%$!Q:1>`1.?WKO)9?_3N4_O66ZR;Z,$BO(,]61 MYW+=B5RU(HAV4[GFC6#OW`B672]#FK_-&[IV(LK-?6S>F'50C5E9BS]TQ9,5 M]BNWV5UO6I4C)7@<`:&PX+!'O]L[*"-.(TM).9VNK3=9;^B*UQ!@-(!YH,3A MD$,77S0B@:K]%=YF3;)Y7'2P">N25R-VWO:ZO^\,/.#FUI0CN^$VMWSK,'0^ M0G_BLJ;P/R;=7EN0]/6P!1G'_P@$F9:F1[6)1YW9%&::!(;!A?)AR#"1D"`4 MG*9DWU/QMPA).QHA:8)1R_?A<=:)TW*/D[7B'+#'V:'B'*S'R9MNCEQP^8NK>]P@D1O=/K=`;""Y MW.KVIGTE[>2&N:2/W+\7B-YO/'V_GMQ%OZI M)L:'DAZOSCTNS\YM#>'GJG-4HCD,_@+,G-"/XVY]BX$TG:FR6CAQ<*QNZ]OC MYVEHBC?)S\MI/S/;L;B=-K&B0N"[TR)MYODI+LYB%*037)YC6BH=Z9.D,#X) MY?@DH!1/_M!DLUH!UZ]-Z0)F[V`R<`4W#+SYQ:1]$FC9`YX(O,S4>M04H`ES MDTSF;ONNBQ>YT*GY7T8ANY`:OA:88KA$+YIQ`O-S<$BW&G(O3>@+7!-K`?TE M@);!*5S>PM"XRTF=<1X@'BFP%AR(B'^9AH!33"96 M&6@;KKO4[-@&>_T7&Z\%(>ZJ4V><`S@)4^0!"N+.]W`EPI/?IZ!G&200-%,Y MJ[)P8C"=6V!`EX7.[9?"QVJC=%ZME*?(6(#GKFB*!ZS+2"J?UYOE4K/R5IJ^ M<).Y;<"K[[CKJ<57ZO89N=)U9N+ZP`PBYXHC,C7Y+.0'UN<"5,CV\.R,M4#_ M>O7TV+XCG=MV'-KTA!-P3RY%RA_'5M*<`3$T1+"9!6`<,<'S;$_=T M3+LF"UQG@CK$4K,9H9;C4BW":JZ5&Y7:.9C=Q=EB,&]$94+B4DR:Y6J]_&9, M'IC.^`L.NV5>)JRIE!OU>C41H21@&Z&U.ILJE?-*H_EVK%R?&5\Y[6*'-F6,?6'8M] M=82X>J'<1#9_<5P\D5&^5"1GO3)^\X6'?A M_>(Z5IN*P1?3&?W,#+A]W>M!LI:-7RA7WF06FZ&\'UQ:W7=H]<:!,"D;3U%\ MHZO8%NJKFWCQC3:>@KEA<`RU(;VGW.C8;3KD'C4W8V[UO%+39N+D9#AO169U M=E7/F_5&[0VX0.YB<--'W9ZXP^M7W?0-9DC-!C[[GDQ4[GK7U+4A$Q'WS)6Y MW96%4>;"K&9FJW9!1EF"J+%>;L8HR`*Y]Z9W)HM;3&]IN\0*P3RQ:3)8;VJS M$9><=T58:V1[E5JIKE56!)5)EM(L-[5&(P%BYX/2N=S^ZF4<\$OW>G>;&E)L0.6R?Z MDR^XS2!0U?_PN9#>N^T(&"DON,P(*FP0;*!/3U#!S7N:EIM,J3JMN6MBO93D M>]!O#S6/"&]LLLM"UW$-YA9UQS3I4+`6"7]]*!!U#Q<; MHC/3%$.JRZ^?!G\/J6&$?X^XX0TN"_7FCP4"2MNW+PLZ0S4I(-@__TG"=?&W M_&6$#S0;/Q8BQ,X$S;:("_!3%W'\QPK`E)+?V33Z^JGFX+S+#ZV,W+QZZ+J MWX!2]=QPAK_JD1;YH23_(]KPE0C'Y,8'156+-"M#[T,AA-8#^893X.]BCUK< M'+?($[>8(+=L1!X%9\LK$`'NXK*@1=-TPQ\G`)KV3#SK*7_@98E)K=DX:58;:^.3X!TSPF@=42WVZ`.&W()E*'T1 MF@R9>(_JW/#5%HZ]L2D((0F7=8_ORZK>CL36S$LKG=1K]>.QKL-:7+Y"S-TB M=F0.A'J>R[N^BI$]!_@2JOM+MP9$^#3$ M`I/VA2PWZ>JPB"W;J$G&8G7D@$>EFC7FHUFM;$RX@$&R2B#V^CB*S[PP&I%+AD6^GC\`VZC%Q(E?W$5L/`VTZ M3I\&AKR8`B4I_Z=OCF.$`\2A[^H#_,9JR(6_"6+@VQR(A63BD+F3:6_8*\<4 M;33@^@#S.-FB`Z("^4P0."6_,N*R'HK(D:B`4%G?P1+4!*D)OD@]CE*SQT%Z M3I]ARQNA(A+39/^>=#H2U("^0#9)TAA5+TTQZD>25!)#ZA(A*.&$MX!7"R!5 M9R&EU-].24K8MM`2M?([F.(3R,&WJ6]PC$F'KB,-DI(>6)6M[KKFS0J[-(2\6>%`S29O5E@Q:UJ( M7+XG>,AK=]ZLL(?A5WV*RP#ULE7*R^5X(;$T/(9[`& M:DACB=V$H4/?'3JXC>G8YOB4K+4/0WJN8\E-DRX#BM5^C-I%4:>LQB#[ML=- M>0LN#?'$3-P\F[07$`.W),/':==Y846#"1VB'WAZ9D\1#5WNVM&9G4*Y,2@( MC4Z7P;T\@*B#*P]#*H^^PA"7R9,M\#9N(0T!0+!YF[A!]#<1160`FUHX_'^* M";&9HI-M$9A'[3['L(VJ-_7E?A3P$3A+3*!>(+?7$J7A`.*VXX6$SM))#8,X MN!UF`?>(SER/>G+B+*J#>T2;"[PKVAX]O]P=; MMG,JL3:70N1MID/J3UTP+]P5-D'GI*@#*I(W#0'E$2(:*&K2MJ+CFX;:^Y4; M@[A#.`KP1CXAB'HI?;<7]4=--]G]GM^,#.Q@J5VE;NDN::I:W*K`0U&T37.`JM5JO4 M=H7F.H>(U.J-RJ[9N.J^OPN1D M5+9$Q)IG;)0KS6I6)$#$S=52@!,`CB`O!OX9G/^KX"V;FY`XN#XKK*O;9QD" M6L2:U>'DO8T;=1#6][:WL7UW<]-YNKF^?7HD5[>?2?ON]JES^X_KVW;G^K"; M'2,2OT)PU0_ZJ"!;YI;JA,/CD(10D=PB.I?W,;T'-;]"Q.5B=/KBF"\J.C4C MNC!HE:$X1(9!6!D%<#*:@Q"M&P1"LI/OA?<=U_$%1(H&ZS&,\$T32/`@*I,- MB"HLAC`/XD-\&N-6;G`(+C';`$1LBMVCZF&*+`26G@3I%K@):=[@,`1V75H4 MDP.858`N0[8`68Q'3/;"3!GWJ0=L7=9[(=CU,'"E?8J?]H!X^P508N0WWY"? M"H'I="5##,9C(HS";2J/1B0^4'IE>@/'[ZNN.&I`X$WU,8*$5$IX*E`-8>N0 M0KBT+RF6#/0]F?[`:&J/`=T^)H^NHS-FR(H,4!&D#!"<&ES'\%:F/$$>XHU/ M2%>V?#JJ3U0/CO6*Q^XT/.-)=HD:3I"%F!RX(Q^"@)QC$QY(6QTC/$:J'@(83-@)#:L9J!@5 M/C5!1R9SH*L;0/H)BM)E-NMQ#[6X[U)+J.J'-$1E%$.YPJLJATX]*B"A&X(G M(-BO!`H`::G)+9F4=L^"IT9)38OORB$6#7H[KG MN&*FIYI`J@V7P269H?5@T0#<'(`]`?]F(:LD#Z()L`O;17*"*Q(C6+3](&$& M]N(W7B2/L&0\9+)N#'1QUR@.J8LVK'N^=*:GY&:"N.!L)V>$."N);PUAG M+UY<.AUJ!%.X,*!4-74G,'1*LY1G]$`4G9Z:RHP[VZV^"5)5P.((*- MG"O8#1(2D[OE"W3[D[5",B/`8-J9ZH[PU(HAO6.\[`//".9Y)J*%13(\#FX2 M-/CV[%6UY*GE5TRFZ?J>].71\%B-@YI2!F+`F"=K/J?D(61)\$X!E8=MRD?^ MFE2/1V=1/:E4M2E/)E%<,+Y>F1WOJ9Y94E%]W64Y`Z0[ZD-@E:C;>U+#-,>X M5+E23K!P<:#"B)<$A2^M*U2TT-E(0]Q=;TY2FE3K1>[C.?-P7?(_DL/^]D&]$Y?HDG*6YP MIJ#\*$KIM%:>1GT9^(P17IQT)R%^K>N?)+,X:LC80/+LRQ,_WL3J(\ M2HGDI2&[8^H6?(!G3XC+Z%/SQT;Q9KYGIS;J;[C3KA%F"&7*_7RRD2L@MO[$;JFM&JE6L*:52W-+09;([HX3ZQX6#VOBRBYE.YQPO(QV@W96;U/EOL1* MX'>X2U79VUVJNZ>?KQ](^^[F_N'ZY^O;Q\Z_K_'KF'XY;%!25)OI80W3L`I.U=@02:[ZB M6+,=D)[IC,@`/^T4;F1@SXXLDMSIGH/%&/2/JD+FP=*O)A.X;X/G.ZC:"Z/Z M0-+CV$&5SDDG45;^)F_P@[4?^JOZC?JZK^K7UW]5O[J]5_5W"'IQ7_9V3PEH MOM4WK"79'A.0BR<_Q6&;[VA\FP\$0.S\16W-8O>"*[]7 MOX^.Y!U?0@B5[J]OU[A9]+;V`L=DZ4!6_M`L:^5T_F9"RM:0SPSC8U#"]5\1 M>B^-T[3:'O$INV-(]LY;=Z*78<+MYMPOSWJ+W$'G#GKGCF=?5:^:OP*_JC+F MK\`O>`4^YUR&AP<<9\9X(H]OPG9!^II'*7F4LG.6YU'*H40I#6T_^95'*8>U MUN:<^T[.7DN(219N9^?QR`''(^5:'G(WE0[FI>HC"3ZT>AY]')C"[7_T<42?6,JCCSSZ M.#S.)2GR094XTM_1RJ,-N?(=5%MU'F0B\BRFS^KG9=T-(H@4DX/BF#XMG:?'X(G;LS7"JZ[[EJU/P MDEZZQN,2X[62D]GWKX_W"^KY:]EOOIZP5*0O"?EKV;L*QP[HO=_\M>R]%D_^ M6O;FG\Y+ZJAO[:/;V""DSWK<41"XVFKY9D6M9*RHGZ)O705'%Q^(CF9$?N3V M-JE@Y6]P'&$Y*T-6[,^W0\+['\@#`PP M#3@>RY:O>6<:<*Z9['8G09R>^6@P$AVS6Y8\I!3'^^O?*E*RY"N6;3F1$V%G MT;$.\JEBL0Z250IKR8??$EQ?$^V#*N!,U%FAB0M-?*#3"D6N7`J-?-0[",>] MR5YP+J>'([-V)"Y40GB8F?B/4R2XU*[159#[@4J M?UJW6$Q(*P)%2%PL)A1[#\7>P]'X`_5ZX1#D7:+RYQ#4S?=T0*QP"0J7X.@X MMTJ0CVM_81>D/)SJKSQGCX?=]Q.P[%G\A>\R\1QT']& M51"T<-K\"7_\]DL@3QXI'?]ZEK3*NHKSM>>S>W`73AW/^O'YW_\BY+?X:52#4,WT#_H?)OOU[KU_OU_6/TF<$$V(A MX=_17/[*?'I.?7H0BW%*)9?H2W">L3`+]6V>]>R*^Z04BOO&)3*A46T-B[`GE[G&7&)U&$_^] M!'\5>*PA2@)^('&`,TSZQ.;2%_PA\*%I&`_*T4-T;8[CP=W',ADR&!OW4;T+ M.,%@,2U3A/T3\#'FTH;WM)+'4N8U_A=($ M/P*7!D`'_#7@+G4M3AT8;KB%D"494G!_'QAS"4P\`(W0`R$#"O3`,"!*$3A, MAL0]HA,-,)74XLW>[)B.>N+B6=?^`(D>C;B4\&B%G#'A8\U4[@X\,=)F"DQ4U$P1MSWEQCD MR34L*H-W`[>#QR&98',@!-`LDI.D>41MIFN>V"!)0!6V.J(_])-)E@&A$I/L M%>,(<-=A%-<^*S#QU,/>F+OX(`P-3%CZR/0WTX!T:/P[2)5B6%G)!X@<4@^/ M:J:'X&$PA1+SY/,NLYB45$P)@"&4#'!ZA&@TM)AABR.WHU0RP;BKIH!DR1L2 M^.G86EE0U0DT^SUP+05#C7G8:]S7RAXB^5-J0##@>1(Y*!6<7`;I:L&[8Z!. M?"SZ>PG<(D;UY+^5G0K3K"WPDZ4^OM^9[V@T8:9&PP=*4FC*0^;HR:@GCU(! MH4I";J*8P174_9,AJ/OIB3?!EN8,@5*]J]N:=R`6PQZDRY]X./0(DJE)G!T_]&%;`B+Z]C$=@MU'BJR2+MPI?=M MX)BJ41':EZ@#F*`PZ?%K'I:2WK"'*:.J>>3_.30T>H#NHBXJI$=1+T-3T`S' MU2:4=ZQ4(E#C)8T\$S(V\O,F?84I1^R24>FYU*F0RT"@$AEY`AR5U1P!,4#\ M'$1`XZ=/()P/0#(0$KCQSP>JC`WH,L"""U5C"C9'0!-VH#0S4BV#T0AN(:2) MDBT`HV50@Y(58,8HZ8Y$IGP3&[`-F/(.M91&0!'ZP7SE+4W',#1H18<0K*// M%&IXR?!M+:+ M0%L```,N'"IU@8;7"X`$3_J1-&ER)/:+1@RZ#6TA@DDP&,6J#-*&[H*";K,Q M"C$Z%FCNO$#BHSBE':9'.(DN&CN\AMP!Q\&*>2S7SNED4+0V0EH?\RQ&1]*_ M&?SA>;;LNG:/B2<.$ZWG.?:+L9&1C(V,$@@GUP]^@S\@6`)66!PX,$)^XT-\0DG=Z>&]!)*=90FRT MS25\Z_J=1WC.'ORK63$?%4[VQN@9W;A_@4;%:/L.7?JS M&=F&'EFC]G;"O0MI:89,DU;-@C2]VG5/GT'7JWKN7^!1[JC5E&O/M<)#T,NT M`5%I[;-9!PM=G1>Q=/UFAG8+6UVO&XU,P`+W(;9%FPQ_:Q<-WN^"B^[S_^F@ M,$,GJ-8T6@NP-P/(&/*6/D>]VC;VA'Q!!<8+\I:)WA`B(I1[:P^VUISL>A?WM#RI+/J4"ET3EMM]/-?1W-"A%#?1L3]Y8Y")IA97?^6L> M%<>1UAK)&5GI;&-N1/6:^6&..Z&^/AZD7"[?(W/GK937./0<4%\RUR*;]13. M]6'U=MEL%L?52XQDK5^_,"E_C8]>,GV"(7"35V91 M.H58WXH.'KB>>_+$)/[Z&<_["(Y'.C[-A>"8]EZ`$.&D_SW4GN];,:/Q)LSYKZ/KYI.1[70\;K5)S/L4I?RL=(#+-JE%NM.IY$I3]')Y\VHT\6XG3-3I>&8`-9]$^E!W( M=7"+)V\+Q9]'^]1TQ]7A-#52YCA8>69#4#-K\S"*WZ`:8<) M6AR%VOJY`_LFF7\-I/`UJQW' MFEVS4<1L^92C_"W6-3KO:)7N&+W`I0 M?J*0XCC/F]O-8S^<4G`L6]M9+-;O:U:BNCU%$G.Q2\K=;4"0Q;Q,5%.O?.5CU.&Y^'5EX M5B0Q'VED5NQZY%:`\A.9%;L>;V[]CWT-O^!8MAY`L>NQH^XHDI@_T")'D<2< MA.3CA8_'O1A:\&OOT/&C!6DK/X]5A&GY="C`YV[7 MS;+9+%:B\RE.^7,J,$SKF.5ZL2M=K$L?EVMQ[!Q;(;@)`'9SSM>Y) M42;MF+;/BS)I>96?_.R>OX\R:?K/5!].5M_]/?27DS=HT,2'C_5R,K028-OJ MH\J>"W&E#,N44J0*'^VR,W4NK?4/<>QZ]S:-PFD^BPTO.<+1F4@IN$#(^8//?O_\)9@ MT#8K@\1$AZ\6RZ\A_)6$22+8/P$7S*Z0KH*BOH1+ZD:9X+=;%07XO="RXDX2 MY\H&)\`8S5N?8W(.R!;U!HYDK=PVF^5ZW9R30NP[U;N-=MDTYZ.`V:+` M8$D.RD"R'`/G80R<:66G;U^_M7RS9\L);):"/:URL]9>R9I('O_17T(F+/X0 M0`UWXP M']5=P-18!(Z/\L31VX'_?'ZR,$4(#-WZU9P*N?8BFB8LP1PR$-[HA1?3<*"V ME@-K!4=?M_D3_OCMET">/%(Z_C4Z'WG+A$JLO`=_\Q0FZX_/__X7(;_-'H/9 MZ$^_JLE]Y6)6Q0@\TIN)"]IJR,?P-GX8&/D(TPQ]UCLV^+W4E?V;0;_>KQM] M!%TB@/\+>Z3. M!0R\/^T^<]F?2*]_1H7@3%S@1Y!!M"0[HRZUZ9?;KVSTP,3K4/AL,2GOZ?,I M<]F`^Y<@3VKL3JED-NB4,7.E4K:7W*4N?HN^BVJ%^YS).:K/`Z&>ZQM]-4)& M_]Z;#9>Q2$PM2@9Q]@KT5C+4GCDD@NT6B8[;>G\0:4`_5S M.(XK@+T6C:\VCAMI_,/S[`D'7VU9H0#*M(-0-SJF69W#L"A+D3/J9J?=G.\_[FDW"-M*1*/:K-720;A2"=Y?X"[*R1F`X&X`(A'* M!MC=4^7LZN=`JIC\REU/@'J_0E,!JKWKVO.MK-;^F4YLH]%NSXO]*Q*23PYN M*R2=:LW($P>AP8MGU$TL5%Q9RHO9:C97$+O4Y_[`MAR&1J/6V0D8!J?LG.E_ MK]RN97D!,&L+U0:-DZP4:1K53W203B;ZS@KFMY+:J[4UR ML`7*&URHFKEX9W3,?>I@39K&:'WJ?N(ZV]=*9DO MX8$+M28"[V3C0[<:]24#MKG/3%"F9V?+!)C[@U2>1&C]LA36]I(5F^MJ=QQ; M2MVRY_HB#CWAIXNBO[4(F-;]7M%OY-O6;6%_F^KMSW8=K-KEC3Y[SA%[67)>AP'WNC@5W<(>H]3)9\Q`WDQ1. MWU-/"&^B?3RXLU*71T-@S*A9U>#N,WLT^DWR>RK M0Y]N.3%-LSJ_)I,>R$$(V'(%[:1>:[0.B5]O51YN`(QFO9$&_PH+3MI<3[N" MV':EW6PNC7(J$-W$]P[NO=7F/DMNU1?/ZVR-YI#$;'NDH;H\M_)*S&LZ?H?E MRQ/ECGY7G[U/;A:H#\%G*:_-^L(^RI987HN0Y>%5210W`]7HW-`F.DL[GJW& MDA$_4B8H_Q@OGN[`ALZ2*F@G[R'1S MV;UZ#2Y$"4CYT-0AFD,2\WI3="4Q,_?X,#ZPT6P9\T[PB@[W0[3UH=].M;,E M(O%(7?X_U>N9YZJ22>I'U[5OP2G!Q0Z53#`(@VWJS.8D<%U:CB>#1/;5-N1\ MQLRN,+&+A']'^79?F4_/J4\/DL&M,Q%7Y&N_D*+8?"E#,6QPG$A`5DJ@)NYF`U!ES0F/T>4]N.?D^X[0]_+X'0_93H=6U9 MANAY\Z=9)C:67C@(1XW*#AGP"N2AD9UV>U<]A?7]]W[JYMKLAGM MQD3MUQ)6-#DJ\79N>JZC8)9F&Z=.;DZ_?5&V,Z)G[LL5F`7-?4ED\""YS:DZ M:_LSSHHHC[A,2N$;(,=#;@T!WY0\,"+8@`FA$TBI5!1R;'_"RB30OW]1%SP1 MW_0"$=_XI+*J\=.'8NP)E8S*76)T&DW\]]+Q!/!80]3)[0YP!N/.V9>[,!M^ M0"@7J.ULCN,!<[1,ADSI6O4NX!3\,4RM()@4/D:=&=[3.;!C*H`)>$4&X[&C MF%#Z\Z_NV2]WI4\(!GO7O^/.L3GNV@'\G%;(/68"6Z#;Q]2=8M^::XM9MQQ# M3#Y2>/$4HK+;H30Q_"H9#8`.S/&-M#P,=Z3FR9`^86(^<\E8,`"-T`,A`PKT MP#`@2A$X3(;$/0:.3BB)4OC5=KE>)<,G+IZM(1Y`4FGD7&+5@`HY8\*G'$D; M>&*DN88/NYZ/.?Z1H9%P`6X[SA1'4.F"DQ4U$P1MSW MEQCDR34L*H,"A-O!XY!,L#D0`FA6US6(:1Y1&^@3\'\;)`G/YD"K(_I#/YED MV5C;;*881X"[#J-H0"HP\=3#WIB[83D#F+#T43&HK$HVZ,H*BF%E)1]<+>[B MHYKI(7@83*'$//F\RS`OD8JI2@.G9(#38YSP(!(,6QRY':62"<9=-04D2]Z0 MP$_'ULJ"JDZ@V>^!:RD8:LS#7N.^5O80R9_452&`YTGD6`A!)?5WM>#=,5`G M*KG^$KA%C.K)?W-<#>%^9[ZCAPM58#42E-ZP!U4ZANDJ M*^?0$*X1S+JHD!YU=&43:(9CO3*4=]SE%:CQDD8>`LW8R,^;]!6F'+%+1J7G M4J="+@.!2F2D*LNLY@B(`>+G(`(:/WT"X7P`DH&0P(U_/E!E;$"7`19H%'K' MD8A@:MZ)`_#M%G"C6\9/BVEN8A%W8TZFC_X)JM@>"`+;.78]6>8%6K M`P^9&K6UCAX7Q!3UFR\";0$`#+APJ-0%&EXO`!(\Z4?2I,F1V"\:,6<:V4($ MDV`PBE49JZ.`NZ`KY+(Q"C$Z%FCN/%UK"*>TP_0()]%%8X?7D#O@.%@QC]?7 M0TF60]G=JR[0<@]#BLY,H@20&W\`'OI= M4<^'*K]9G?:$2:"-_`O&9HT4$X>%W\*Z5?Z0@@'4,J6-AY:2F0AC MH*R2`]6K3IS>HQ7_+,@)J4+=KVSJFG=T+TAMI*YW8X6V1*OQ@LPS-P@1,IVV M%_LK^@T5%4)([<%\Z"6\N)A3D0>+A;GTN.$T%4]A4S.G5LSRI]'M#'/G(A\8 M)Z>/I1C*\=O)"EK,&9R`-QH(%SDF#4#$6NC@*/_@M&`E%[HVEXC";@W@(73U, M!N#=S=ZO[&OB-JB.Y6`A(R72C9<&SM12QC&HD=EJ6')=7R\LCD"]#$',T:?6 M.P6)A;2\TG/EDO\$+@O+*>+4G&U1D,0`];#`(A7_S]ZS-C=J+/M7IIQL):G" MOD*@UYY*JN2U-_&IC>VLO;MU/FUA&%DD&!0>MO7O;_<,B(=``@G)(,VI.AM+ M@IGNGIY^37>/X9%S!_X#9IT7`,\_!B:/`3'&CKHV$NZ`H:B![14JUJ2FQ/WC M,+M-3U$M_!G#`C8-!5D`BC.6.:ADT6Y]P6W+9#ELKH!ELX!!&MW3%`DHV($8 M[4&7".U7L`V>,+:2$G$)<8:.1#%4W(4UP1\`%]NG%L9H+,MY82&,M?(S/4TD ME)QR+^<)WZJM_NH^H\J<@"'=>/UZ+544\D@=I3OO+,^P`005*@CDSJBW*0"8 MF50'%7I+9Z-YD*MZ3MW?*W)?;'C8`LUA_`[.%XYZ8U_`>,\LB.2-71,=]0OFV?-Y M>"/C4YN[)><'=%CV@5:N7PG)U9*["[(D;-=%#5'=%A`Q+\X5BL=\MB MAOCD;G^[I"(Y-H2Y":2I*#:[5>5'(TE3]_;9*4W>G!I5*T?>@!J?'/OQGKI/ M6#5=DP6]C$7.)!N#LIVA4@X2M"XU;\KIO8-N5_U.CIS,F[0.V"HRH=K-V93K M8;O57-_4S1D[_XGY\")*?*$&^'M?;"/^'/6`K]E*2]?J;`[67M"KW$ZZ,]P1 M>KS+S,WDPL0B-=OP$FFZ]>;=CI0L#JOFK@W.JNJZHPXZ6\-Y[XQU%INZ=?&H MV)_?6IJ-G7@O%P>D]=(VR_UEP=@)^!5)K@PS+3:W!S\J!6<]UL-L\UIK`[O9 MIANKY\[`&:5#,@Z"O7SCLM"7\16O`XGNQJBDCI4DA%?7'[$VOI<$K]24-8%9 MN/2[AY(]2%X]\[UM6K^>^&Y`3ZK:-?]7PP2KN']I?$>GU&"MN:\\3#_4L;G, M;L1PMY\I/5D[>YW`5E5[\E"N"]BXH]K-)-6;IE9!K,I9L5`&A+JAKJKREIKW M;`DUYF;=3/:B^C(M)RI`L1OPJQ9/%?/WYN#C1KCA)_V7X<545Z934DN"DKUCP/ M]SI)553QV$A2C8;;4FIB^K47X,ERIJ]"/,]&\U=5*HJ:M9:+Y\_?>UNW?59& M:J9,?=5<6T%5(0#0&727^*4\4,\FEH1\=-P+)WCP)X$57350)_.,Y"6R%.\G?M^PZ+F>]ERISUPIU!579 MWSG0G\,4,O9Z(GW_F^E/"_'8-A(N=]0R6)6%;7^(5KY)8[A_1&LO=CZR"N%! M8RN$/U]^&M]?7I#;\>?[_Y'[S^/KN_$'K!*^JZ-,^,W2XVX#5Y]J+',5,R^C MDJ>H]%:;3$S+9%F<+&>,V:M%)4V]]&W`[]@H10^KJ*2( MBD$*:H`65R:G+QH>^WE/9@M\X%]M-G.=5Y9R:LW)CX57^_8ED"KIXC$HM\J$+R=F70*Y7(;\$"F\E]0%6CQ5W MK:''MU3EK4?3%7=A9!(IBWGB/GSQ])-W:E'[$98B+$4"&6W:/$,S<'F)P0/6 M_U"O.-WQ[:OS(J+$75/)U16AK$;1X->T)U2@9I$[ZCZ;6)>XZ'6.%='W=V/O MY)<4:TJI`FB>@!K-!IX`UB"`X`G+82)*(0-CG1^6X]ELE1[H5+,F4L@\O!0[ M>L2TPU[<;`$"3G0]IXS7G:KE2O'Q.H/EZ;*H,.J0BDJH>6-Q4$?B'62E^N(&!&&4V6%2]9NGLAX5?(?"]%.DW7 M79B\DBU_*$B\L'B;>E-+JV=85[-^LX1R'=Y:DUW M:0?]V$?5F8%2Y."&+PS[[Q*%S@7^);>KDGYPT2MU??\&4R=VWEQ MM=FO)_R_^47?X=)&5ND//)Q&Y-DK8?KH/QRK]V0XG/DU&:QRVFE?%+/]%7D? ME['!$IMB8!-D"ME6E>B56*\4+H50QJ9@RBA<&?,H2]N3I26#C04[R$:C/F>+ MU$WYA>U:+92S(?UV//Q!+H_\YLN3(W+(PR,0P@&A_X.N4SJ9+.;*Q/MR)0ZJ MI%.L6[;]]^14ID\+UQC#@N`MPS=U.L9Q9058W=%%4.^;*#9R)BJC=W;QW$$@ M6$Y;;LRH2LV,>DYA;-:1)_3Z6L*C-:&_$'L_;B[S(J'LFH_3W9PP,%+],.S* MW6+Z;09ZCK6V$^!K@[B-3/9C8SBJJPR;Q"(5EFGO%D'=@C8J)^)-7U9T6SA2 M`5R+.!.26$CBDA*G*:PUD)O$*EM*Y.3L..Y[=&S_DR>7-W$/BH!;_VI1!(J= ME.;XX#F\4D4([W"ZG$<%Y;:C7,L\MDO>B/:XW35A+0AKX1BM!;D_:!*O"'.A MK4I/4*Y&DWA%G$R(DXEVB5VY+Z1NPQFJ>5)7!!/*LH!PB44P09P]B+.' MUM@#BB(,@J9S5/,,`D4]I`0Q81((DZ!UE,MCY':=+\1U@[G!!,OQXG85OO9Z MI&9$HS/.A?70>$9J3E9Y3SZDV&VKC08%=)'A!`\6W8_NVW"^1IH-;:==@IGY MGU$KL8)&'5M6^A>U#1!M`@J%GF@3L$K^BS8!^S!(6E2'+MH$-'IY1)N`K6W5 M^"(U\JBQNY^)D=HXZ+0B[7=R(J!+00T&]TFKHOUE/59M+K^.*D[3XB%)0[VL/5LAYC MRPY8A94BK)3CX,;F6RFB(XVP4H25TC`KI64VB;:JQES8(RVV1[H]87*TC.&: M;W+(AV1RM,J?%#'M@Y+.(R&<6\9OS1?.(F@MG!KA#@IW<%?NH`A5'XCQ(5J0 MM([AFF]]B!8E0H<*ZZ-9UD>[0APW;6YH)M*JA9'1K[RB MQ+FN[]]@ZAP96BPK1;URO7;*.K7;HC+8PZE2/J!%$;7)]7DT3#&22%UBFW#" M%.;[)@J.+6S7XM,Z_/T+ M1N.?'!O``M_ZJ"1Q+2?[NP^R2VIG*$1R(SEI\Q#_SK*W)3F\\ZLA/-*22'JY M%X[@B%G0:^.(>1O>+T`5:+!YQ`M_S-7XMVL0!=-EA"4T>EK`GC\JH:4>00^E(@UY?ZG=% M\+F9[-2\2`>P3+\C2[V!TB1&V<[@::;>:+*6."^0\4P!K-`81Q?L;K1SVSGK M*D+P-Y%_FN/;`H\<4&>29DKZ=GD(8Q["-$&>.Y-8!Z#D9VKA?:,%O$B%JOS< MCFV3NF_H_B!LC0;:&GU)[8B^:8UDH.88&SUIT#N@FSQVJ]=KEYO'[JNU(V;7 M[PF?K9E\U+Q@76]T0%&Z-AY+MCO)1M"K&KVJ.4H-\1R/R@L1Z3R-9:#F>"$B MG>?-]6;;DU,$Q>K5G2)8OZU:"7MZB")F$;EO++.*(N8VV]:BB+FQ#-0GYD4Z#KR( MN7'R^'(RH3J[X-+`8VB\?HJ%C(DSPSJRXW(5VR%5!P-IJ&[1V%](U*.2J*.N M-!B,FL0DQ^<^MCL8*NBUM>MX;$Z:$>:T"3>M!08%V-Q#1974OHA$-Y.=FF=4 MH)LV4B5%G$J+N'2[3(NV4RR'<1,,VJ"X=),-G(M"\T2T26O3\;EHD]94_FG. MZ?EAM$GC?Y:^?+C2_<&92XBI-;FRO<#5;)U^IAYUGVGJAN&Q]_UF\EWNAG<* MRR$(/JYI-F`?ZGRLEO:E^1014FX,R98B,@XGN-U\*@J!O` M8`$-?Z_?)U1VZ,K+U^6DY4+`^[@WX6S!)` MU`YXYM;HM8`KG0'\?VO`0U:E!EZ>#;_S7G9U4E@=#=)@YDZY-5@5Z=>5^]WJ M8*$M$F;T7?X;F/Y\NVTZ['0'HTX:C*4I-@"A/!D&HWXGRT:5(;BR=2O`0-2M MXR+1QHEZM7OGVK$10M=AW'F%U_Q2S]^.<"!8Y(&\CG*;P+4G7,NOT`C^UQN] M`:;7CD\O3$^W'!#9L>JJL@E_0Z49ZDRF0'D)8]IWBRZ\?T^BOT"7\]\65]V# M$Z1'5]WCYYEF&-'G\&IXX(9W)R6\H>AY]=W"`$*/9R>F:.]L`\.3`;EKR.[^ M&'^^_./FT\7EY[N?R.5?7Z[N_T?6`UMH'BWYEZ$SR1SS_NQUX5UR<^\]Z23C M/'5B%GJ2C)_)A?EL@HMK>"MQFS4"@P^:-R7&`F!G0G[,$ M#%<.W]DGCW)>O.'I0@?)D^OYJ2LO%4^SUXN>[_>D8>;Y-%M)R(:I1"PN^.@K M=743W()DG)(]=T:8R':I3F$$^-UUGE(/$-/S`O@AF,$WB'TTUO)4&TC6%\TK M%OFCX:""@NA*:F>P@C9M$-R73S/+F5,:2NK;`,@&WARYM33[6/>(-,JQ$TK( M:FDTRK!/+*D_+)D&$9<#M"YQ`I?0:"GX0[-H*6:P%-E-AYOJ96H"AJ"&%EO) MICZ9N8Y.Z1I+2!ZI5?AV_3X1\&EG8N5U/LL!>Y(+L#:> M'J@;LT:HCW(.+W>5;B`.CE--5T9#:=0]H)98C=X9Q0T&"^3T<6V+!N:`]J1. M6-AY$+MC;^F?HF+B\"HF5BAVYEPN:?6`1CW_=4M=T#)9?Y$51ZG-JTXGILSA>^62K[^$< MW^.TP_RTI;'K:O8CBT^=S^-';K4Y?C5^T5R#_7,_G]&Q;2`8U]H3';^:7CP' MXI$<%)_ZDWE,V:259,[*U?7'D]^Z@ZZ:35BI0)(=$C2=H=(>@O9'(WFO!&4/ M1:<"D[LA(I=DK*-U0XU4G9E7M[(.57S0KH=I;0 M^@SA@3Q<3IHM#\N^$&FJ!=(B@E:MG!@,NFU`I$659(N> M-D%GUQ39I6&ZS!XCM7:*`*#TWP"X^_(9_O'J*4ZH(63$8Q"+:!#_&,ZQA]/F M)M9`#)M;`_'E_.[RKR^7U_?D\BO\>[>S`H@RJ0K]C7./]Y'5S2'@T&5_/$W]][LXUF`HS7T#I MV90\@$+$+#.P4K&:PCT9H)F;LG.%*#LS"L2@7HGD MS%Z*-PF[?8#E$/M3UPD>IT[@XZ4$2#A<%<#DV;1U6&?$%^9U3=\!*%*H7=G+ M*XA?9#!,K-\B>PWH8`*=V-KQN5WJ:_#)J"$EB<.>1TQ8 M)L>'U82W<.U##F/5*P]S$G@LX103^HI`*)V=E3\_'JE;`3*?CLGA:3!69?D- MNU)'S4GSPV7`5$0LFL8-D%@#9[*>762IV^M(G6RJ?$'BXU1[1C0U,M%,%Z5Q M0%<"/5)P^-308;:8:<,BQ)F_KJDC&L0+'O[&[J>`R(OC_L/R(+69B2NF&7\' MGH\FJX7\N1+?ZKY*(E8:A6RHHTCIV5-8;YC,NR_ MN80=6YY#G%SYF((*]D9@>U2'G61(A>PW,9_3#=M.YU1SBU<`_/6:25PY6XOA[1\`N@RH\Y+* MR0\G,4,]@%(0Y]?T?P/3,R/I5"#3\(TG@.!BT-8@-PA%%P*&Q](9%) MP!L2>E3S')0`V4UN,_1Q//[B(V]6`'*2FP,4M_[,\2@,9D9%S4DHX?M%C:04 M2BW@X%`R\*$C<;"JL`N2^1/49&OSZ>K\YO/I`\82"#-.R,P*,*'8F[E4,R+Q@;&'D*/!_T#6 M[0YZ[,X`[W2&]H-'?F9#\==EV`B9GV'*M/`$@\B@,\IYB55/(0LS)4`QU674W!\./$Q4^W+AB][#$2[H&/U&`\^#'` MNEO\!7F/4`VPTWG=RFJT&=+R$M*[0?2,?*-<.(!^=DWF3*(5:S+522:41G@' M-MNL,]X2(,(_?E9B2+#^H6SQ$%R81NUD\5B+!=?Y^8*0&YI%S!L.U)$'.4;$ M"AF+1AD8DQ[102N`[^+.FQANB1?]`=,&`UFQGSD41!^\1F9G_\ M*S,;PD())`3:;IAPQ?2H1"O6B!9DP:3L4C[ M";'"TBZ@=/HL1AC"XY-V$%)$/F`2X\U`>LC1R M7WM%NVWQMDNMZ&)$CUJ34S-J_H5!B4=7>^*`Q_,"2H^.8[R8EA6.:U`@"A`' M:/O,'2E46:CS.-U!&TY-^`3.U@.U3*`'7VC`WTMQ@XOT8$8I@U_3_0#H#*"" MI822([!PC8$]7*X-O0"4_.+]LQ(>9($\3\NHM/R*NGZ/N1:Y#C"@'C:,XX>L M-W&7[_'"/ZXIPZ)S\MNH.QB,8E@WA&?W2)5/L`"D!H.AVMT'4C>3HF'J6R&E MTQ^I2F\=/L6@[`Z/2HNB=(:*JO:'N\5CZ2W6A;'6U>C(O8&R%HM\0':%0\65 M&/3Z_6Y_*QQ>/.?]>1C<'2>\\UO7^8A!9/COQ/^T73983M>W?H_W:BP]?0PM M]NJX2,2FO5+=VK:%N#OJQA"7!J%NJ"MF2/3[2F],F@_.)UJ?Y@0;H#OL#574$!5@K1.Y[FZ14_N*HFZ, MG.=[8]L(>X5ZM]J&:+B1'A6=GC9\@>/-\(1)%65)4T MB@:EE$+&:13"7Y>>,:$*-%K"S_,HP_=9XOSRJBQ?NKSVLYXSVTUWN^"%`],8 MRG]&XI\FP;1@HQ'-XKNDUQ:7R&<<\GN`Y3\G@?@F,GEJGBR1BR-XX.5,"%GQ MGI[4O*9J]6Q4FO.W=3/U1]7-5+37.Y6E"IQ?RA3,%2[6Y2PQ,)JW!!DK>V^_ M`Y)RH^L\S01&>V<<7SGFBQ,7,)G\RH"QY8<9B::YUWM&/_*9#Z/W0GU*=]^XR#\/ M0UIDHW^$R*Z-7%83O($4::`I:UKI'F7GUNA@[P.&C>W1<76_^)DC&D_0!X_` M!]F'E-O#@F1#_`8P:(HC3V`3,$&6'5FD(`RY'5I_P_$,RIJV@]#!@IDP!&`) M!,2+P&CA3\BK1UNB*+$',WIX!6;'01T87K7M4$+)$*7`_69<0@4\TC3=RAZ" M"&PI53HF)?[K?L/B#&!9K"7$^U,B,\ED5;YHX$C?,1@.!=]15Z)8*>D42^)< M?9F6DA?H7.HM!(KO[7)I813?F^)[4WQOBN]-\;TIOC?%]_:''+OB>Q-C1<7W MIOC>&EF!_@O?6_/1J1#U)@#5,3_5NK)HTFONM(@*RQB*"`E7$3M6EL!;ML/H M(VCN8V7E(!SC1"%_V3B>'188=-GRSB2MT2<3^$K39@CY#O)A9POI+S0-O[J_ M_=JY!_SP#5!+`P04````"`#<7JE`ZG_'_.<,``"ML@``%``<`'=S;RTR,#$R M,#,S,5]C86PN>&UL550)``-0DZI/4).J3W5X"P`!!"4.```$.0$``.U=6W,: M.19^WZK]#UK/R\P#YNIQXDIV"ALGZREG3-E.=MZFY&YAM--(C*2V87[]'HGF MCFAU`Z8%>4C%P-'1N7PZDHYN'WX9]"+T0H2DG'T\J9Y63A!A`0\I>_YX$LL2 ME@&E)[_\^Y__^/"O4NGWR_M;%/(@[A&F4"`(5B1$KU1UT97@4G:H(.AIB.[I M"U'H@7?4*X9O$O[H[+1Z6FV\.ZV@KE+]BW+Y]?7U5&A:F9">!KQ7*B6U76() MW*&#(CW.!)1*=O$I>TF:LU$?% M?WA0X`L-B"O.0L+`9_"'Y!$-M8\FO\J[S@T@JP?L=%5?[V_F;8"5#+CV?UG_ M7,[.M?QF>ESQ7E^0+M``=G>CU,HJ=JOA)8XT3!^Z!-KC-O198/B&_L&R^RGB MKUO1PL)X4VU:5`81E[$@UU@P"+>R3<1#%V*@#AMA')&[#@1`&C19V*)1#)+, M$`(\>IP9\A91F$;IJBH\X(SWAB.=MU_]]@QRI[JFBL4&,)7L$0^N.QT2*-F, M(AT?2?C(KW'0U:4X`V?==6Q<7.VU8*8W$FI[5FP&?\544MUUR*F07QF.0PJB MM07_Q$4/?Z(,&BG%T0WKZ,^:_I/@O5\Y9>H;"!V[0VS!9+N0(+%/@*,@C@SI M+5@CL8FN?\N=RJP#R$`1*!9.OJ5*UP>]?:6"2FA2'/Z>\$>S%4Q))+KKH*0. MHQ'H!)B9J\Y@B(MYAR?*F=Z]@^63Z>)AG/:,<5^/;JIE$BDY_D9CHUJJ5).> M_H?DZS]^(VI4^2T,VL851/B)1&;0MTSSQ\_UQL_G[\X:U3/X=UXY:]3'OGA; MR0$T':K6B#TET#*?URKOWIW5:]5ZK796F95Y!D%-,2\^%L&8.?RY!*KYD55" M499Q;P3=$F"[-R[?`1QG,6DB!G?6AXN0"!BXGZ!8@IB\KT7`T0EZ)?2YJ\PO M?4&YH&KX\:2V'Z=-E=;M&EJ$HBR&KN2N3X2QF;PDT/236`AQE,@OE!F9;Y@B M@D@%W=`\EVN(+6KXA:@NAU]>@,2T*PLJWE""XL$N!4++F-NWM;P`=6(,]IP: M25=0%@\D^_;Y,@I=S>8%6C[K],BH(5I0,D-1/'2X^F+9BVEJ>>&]>_)"6$QL M#7S\<_'\EF;]97^MU<4+9UUQ"3.MSYR'$B+2`Q$O-"#R@4>AQ7WV`H?@T(S: M)2ZN65U<*H*/'T@$/)\_$P9Q*0*]FF&/,BJ5CE(OY'K0U[,OB[_="A?/]_F# M\`8:^X&'\1!DO>,7J(KGX>(-PEQ,Y@M$$ILEJEQ"8["/QBS4Q8-,SLF=FV9^ M>'8NK=)42M"G6.&GB#SRWSC\P!18,S)Q%RH?R M0B[WC1*\*Q?8G+*]M7S9WKD*]YC[7:$X(,`L7UC'QVM*[&>$;Q5H@^:_(=?B M!0,'3\]/%+:O?^J$L1`=R!K-X5,4Z]TP;2Z,\W:"KSRU'#+>MF:/U%ZI"/#S M>DWK+;QXF*MBMKT`6JNQ"=L$I-03.D&P)"TR^M^VSI";X7=8[<2"7D2?Y@NF MD;;=)RX><$0>2!"#0)3(JRYFSV`!T/PK`RTC^C<)_\,C;?O/F+)9JU@@N1WF MQ8/GEH&RC,0=&BY;<-S3/@^;@:8]UDH?Y/+UV\0.?' ME&RJ*RS$$.+$-QS%MA&P4]FBNGF=YU;,GG.KZ@4*FD'`8U#HG@0$E(.!$/0, M*6UY39'#\'EF#;V8@.A%20:\AZ",=35N2G(8KDS5*'%=O="N,^,^EWYVF?`P MW.BH5^+,1J&=V1:\3X0:MF&0J;<1Z&ZEKP>D]G:YKDA1'>PXFLJLFA>Q5F\# M>Z519-N#FOSLN>_6JN%%8+UA"K-G"CW\2'$`W?4@27NF^-"EJ.?^S:VB%W%X MID_1R6S7?G5*Z[EWW75*W'E6:'?>4OQ$(Y.ZU?MO%0_^[/((!)>CG7D6SZ85 M*TR:94;0]6/`9<+B`367U9N-!^SC<%=U#0%^^* MF(3.C=A*?U@^SJ"C%^-^TZ?>;SH=1;/GUE0M$A6/#SLT)'+J'$RAQ<; MM9P3&JM;V!%CP-$@7O1`R85P6J.U^S,6R'Q`@*,WG53SHD6W13)@2G7G"LH# M\JBK=EXTT&88TI%<;4S#&W:%^U1AVQJ2A?J`G)M%0R_&8YK M3^]EX7)(@-B"YEZD$^[U59IL>IWKC.(P4Z:!]4J$](('!(>!DQ&QHCXWT8#;\N)#A, MEZTMZW@NCOW6(6$U\!!C(H+@7J0!C&?TRUR=B'K=%*PY2JNN MO[/72G\$&,FF>^+_\T*'FN7YT_*A9N=YZ'+1(P!%;C,D^'A7[/BPK-[XJ+2] MKUE;YB@AD:9_@H7WOF%AX?A%YDB1E#M*3+C88)R?JA2Z$S%+-C=2QB2;Z^/:Z#6GN7(X`,]NPR!A!Q4Z*6TPW>A]A@X64%0R*AYNW M6TAQ-8<7.52(FV;Y\Y&;ATT%L5X18/.X1A`LZ$UO(@S%JLESR3G[YM6,"@>9-ZN;W(UAQ?K-]-H M.CY98G*)R;ZHU/YH5:'B86-#1Z[K@YP-X$F_DRAVUVE1;2L6RIGS"2EP6%WH MB."0P0!^/)!U3_H3U9;.O5MW^ZXI)5<^[I6J2>>AB_,I*ZE7QO6)Z>A.NEX!46FL@?L\G6!0><,9[P]%Q%E`DB+B,!1F?KX(9O@EW#T&7A+'.[$#@HT&3A2T:Q6IZ M$*MMCN9IB&ORECZF%;F==6E4:I4:*J%IY?!AS!8!7V18HA_',NAS+D8*!&*@ M1([Y$B-11@5_0C\FXORTCS,Q\\^XCI\/>N0S`2&9V!J=[+FC;%SV_N"OBR*% MC`UYO&5]M]??\REM+!0-:-\L64Z?N9K$.A)"Z_O*PNGG<0NTYC'R,CQ(F&S9 M''YD//YKA`'57HC`S^2WN/=$A,[KF!ANPK6\BY54F.G+72Q(RLRE0*HN2;'KE>KB$-XP M1G.Q[H>_!@:U'?#%T0]XY- MU5OQ%N4EZ7!!-GDZ-&=]Q0N0V\5.]\=_G;SU/51]%2NQG@+['Y'[0Z-F+>/VM6DU>PJE^:. M3SF=J'YE.`[!&6%;C&];1G\T*.SCH5TZ9^@93P3CK(E-C>9%I M5I;Y.>E$'@0"(2,1FHB$9F1"6BADI$*)6+FGH2O7:"]CJ7>OR%E9QT;2-^"L MN@XH0[E]1*=UHKDL(3F7+TY4R>S)V2"QF;X[[K!6@G:E=#G>NMB(E^?>W[[N M6TQ??BAK.9^P)/#A_U!+`P04````"`#<7JE`(1MI*,L3``"T,`$`%``<`'=S M;RTR,#$R,#,S,5]D968N>&UL550)``-0DZI/4).J3W5X"P`!!"4.```$.0$` M`.U=6W/;.+)^WZKS'WB\#YNI.K8D7S)Q*CE;LNQL><>Q7;8GN_LT19.0A#,4 MJ0%)V_KWI\&+Q`M``A1%M3QZ262I`7;WUT"CNP'PR]_?9H[Q0IA//??KP>"H M?V`0U_)LZDZ^'H3^H>E;E![\_7__ZR]?_OOP\-\7#S>&[5GAC+B!83%B!L0V M7FDP-4;,\_TQ9<1X7A@/](4$QJ,W#EY-^";IWS@[&AP-3C\=]8UI$,P_]WJO MKZ]'C-/Z">F1Y'PV6OXR2)WON9^.L]ZEWW!\<&R>? M3X\_#TZ,^^]+NN\@R)C6$3K4_?T9GF6`+ES_ZT&&N;=GYAQY;`(-^R>]E/`@ MIOS\YM,<]>M)2COH_?O[S:,U)3/SD+I^8+K6JA7O1M1N<'Y^WHM^79+"X^U@ M29OEYJP7_PBD/OWL1X^Z\2PSB("L%<&04O"_#E.R0_[5X>#X\&1P].;;!Z`N MP_C"/(<\D+$1\?HY6,S)UP.?SN8.ES'Z;LK(^.O!J^\=1&?B6Q\VCQW_NJ?746Y/?QP#,C'<_ M\ER;N&".\,'W'&IS\[LP'8[KXY2``:NQK=5AA]S?P]AS@RD)J&4ZK8M2Z'U= MN2ZI;SF>'S)R93(79BK_GK#'*3SDUF0,H'\AER0PJ5,/2F"^>:XW6R1&I='Q MYH3@TX8=.N1N#!,@M<"R+ZD3@DXSA"-O-O/(5IX6Z3MKC,I)^ZCDV.+%:P2+02>-;OE_2%PJ"P_5O/_4%\T%[T-2@S M^O]N'O&E"EU!M#:?O$E]7$%[;T%(].#[D%E3\"CW,"\`,Z?]P2_\8VLJT'K8 M)J5>C1^@"AA]#B.-/WD`B.6Y`3P4NIY@E- M+VJP08;@6>!<`M-LAH]XG!&9L^$:?*9 M;[I!)J?0!;/"9W*XU(T>J$.$H;!(*@;.<@;8"UAD+=J8>&=U0!Y"\`?$7OY M+0WX,_K]_GG?.#32CK(?H5,C[M7(=AOQ#9P[GI5[@L/C'H$E1RI9FSZSY%^ M(**=F.:$+"OM-_$U!K:HL?`@WT]&*2]C9DW MDRLV8<%3$F/.J,?`A+X>'!\8H0\<>M'B9Q6"=(M0EL/+9((30B,BW!`FY2E7 M$1"9E66Q$/)Z<_'_4^?SDZ.!_#Y]/R\"YQ2-[Y1H(2RH<-N%?5\ M3WRQ&+HRW:9@RJ\,JB&2FUX.FS+S.'&(Q+E0`")/V"D2Q^LCD><>&Q3+80]+ M.G(-'VO=?X9P0U!$$9+B;%5B6^CKD]5`0=_QXODSCW5AR7GE1*2P`"<3_F'U M.P27Q/YZ$+!PK:6:3ZRCB??2LPF-\8$/15C@J]_21>T3=%L`H_PSAM%0#4:9 MY]48&+0X!E35.P1&;,[,-\><"/1;^+U3!9\T57"!Z>UJ.$7[G@`;$.S9E\!^ MA247Z#K5^.FZ)EU@'H?FOU'?,IW_$)-]@V^*4WHE9:?:/UM7^R7V,>D_-@TU M!'*TG6+PL1T,<@)L%X4G9O+M"(^+V;/G"#1?^+U3;?_<5-L%IK>KX3C5]HTZ MA(V`\8G'%@(]"ZDZU?:GIMH6LHY!YP]DPHLUIAOH<8\D'PN5C;K%I7'DJB)*/4)?>OG:V3KU-*T=84IE MM9,^+ZLM^X7/RZZ-;-]&TKF1]+ZOKNVK:_OJVKZZMJ_0["LT^PK-OD+30H6F M2OD=EVN:(S;T?5@>#9]Y$&L%$K2*1!@&C1IF1( MK:@,1(EY;'B,3'\Z=&W^']]X_&(Z?&_N,!B9C"T@@/IA.J%L*:_8%@]>$K/+ M.1TUF;#!.+0L+P1&'XA%@&F8KF])D(@K&UV533#,>,J@58N"#:MKE^]_]]@" MF)1@DR?!4.56QB+/.C;=WP53PG*R2!`0$6*H?2OC(!(`&QHJ0&P3`TD%7'U> MPJW^>^;-"0L6_#!5M/,?'-Z;HJ_=P'0G%!8/L11@#5=OEA/R,D(-"&I-\;B/:O^M(@LV\#+> MCA^05'7M65H\GD71K6>9QX9'S&&E2\>QDTHUD,>GXAMJ/E,'M$;\]#AX[@1Q M37)%O3D&QZ*6_%*7"3&8:KFQJ@88$BZZUBF!$7W^+)J/;SQW\D38[)(\UR1= MY.3(0%.-,(6R8`.)3QK^W7C$B$UK`!*38@AL],`1RX$-F#1Q=V\N>-9.+6%9 M),;@G_3`D4F"$!X6$KLLG!PA&3V&X$<;))DPV'!2!FCKR$CB'MVY#3\DEV1, M@#7[R7R#]4_L*E=LU\:HZLV1N2;MQ9ZZI-@@YOM3:#"+ZH,NW^<94'="7`O8 MKMB/(VV!S(UI`UDI'#;LM,-E-`%RO6_31FZ7`N7,]KS*K0DE,@SQE?Z`RLN` M#8Q[EDS>M7@(*3&X+CU(A&)@0V5HVS1^_KU)[6MW9,YI8,IJ%U)J#/Y(#QVI M*.@0LJQP%CK\V$:TX(&1/F=DRG>7OY!KU_)FY,;S>>GE;@SK(GFTI=<+!C^E MB:BNB-B0?N"77+JKVW8S`L'"EUI4MMY0:8@A?\?9' MS_='S_'@L#]ZC@"*_='S73MZGAG?L&*Z8Y&0=I1C25_753^MR5MB&%YJZ"J) M@RU*RM=^-`%4;8RCZ**"H:I$G45(S5_^IQ`L)V`:/G^L*+\R?O_+A89)U<9-37I:1]:M15:-<=Q'W_MXZ\_ MW[J_A0@,][I?,@_410'US;87$ZB*E)O1FDR,W4<.I1=LPA=@9NX+80$_9!O; M6F9!++^\5:LEAF!`!U8MX;"%!D,WH#87#M9]C\0*650RB(]-$_L;*(5O7`F# MZ+V'98,=SOAI$-DNGW;ZQA!8-!GF+8F/+@II^EYNQ5CE6"5627DP[L9&Q$7T MILZ$CWR+F)6X(=K()I*AA;A&VL\^JMEX5%.#H6),@\`G[,,8%P<.?]+*T5JJ M%Z]:BVLRH3XK*3&L2JLU6LD^MG6G+1+0E6 M&]XET!9H,(PV?4P+0F`;<_.,J(KGD;T7B6_^(#8OH7R%07?Z= MJD!6&EJC0XQ173W"ZTB,S1QRUCI\@:@HWON9\1[)EL%(+RH#5Z47#$=YUAS: M*F)B0_M?A$ZFW#Y?"#,GY#;D>H*U1/&U0U58:_:!80^M/M*:0F+#62BPSGH* MQ\D??=PDPK2'CS"R:.X0AN.`L"AC%64=2I%(:SUC.#6D#F>KHF,;G.I>)$EE MKNUTE_U@.*RT2;>[%!0;YD)_DG!;$]O:&DPN)S:X)?5"O0T.75K>/9GM+KMO6'O`3$N`'I^U@569&R&3M`U6$)A-U!S!+=`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`X_-WOQZ!PQ[Y/)R5B?-8Z9`J M6Z!P3!T5)"H5L2]-[$L3&TED2M,EC;+95;WM:`&CL;S8\IH20:)W64CET#." MNK[>5T6C3MH=,8"\)5\0%[`)]+&OZ.8]%C.$@NX(XCG#;0RXO)<=+7-HRXFG MZ+$*7Y9WW_`"C>S]O+KUCQ.U^D?VLNT<'\:39^0Y,5)6MGS3=G'??=7A>`GM M5L\D%@U7A1+A&`"+C!6F5^1T&))D*A87/D$4TF<]P`* M[HI'*T!A+72(_5EE@JFZ"88,4Z5!YFXYJQ0%`3S%J5N62E*@W][)^5HAJ@[N MO:?$T7L]F2LY5Z^%^_Z`[LX=T)4[9G#M9B\/4`6[U`K#&?NU M("U)A`VX_%VG01QFQ]>=*MV%LD8_&`[4:X';0,:MOT>-[UDB?X1\"?_"%^YZ MV9I/@E/RRPZ-N,68!$96'Y+DU24]P3,;B19&H/5T>6"Z?,' MTKL$2Q08,B*U5I3NX"AQO^%KR]+G'=?J\W@K^I1=&:>KS^/V]=G._'))GF%% MYPFD3L0OL#2>,1,OK6J@:]X@A\ZP+8F-A ML2WB>,KN;IPWQ8JEG)Q\"PLZV<6]B@LZN2Q(<;GA:496N9:H;X9DF5=G=W5` MY85ZOX"A7@2V"6)769A7F)N!B*?VQW6KD"IB#,M`59M;IA0JY$'GF$@0\,O5 M8^DJMQ6)23&L#74`JI8&`2(/_)1=U5K]O83$@N^-=<3&081Z+JBMM/D>! MQ*>7#*2D8&S6K*IBU%Y85>U8-Y)^!^7-PEDE%@4:#,Y78$"%O2Q9CC'HV7RK MUW.>!H,/K=-SGN/6].P3ZVCBO?1L0F,5PX>B9N$K<-<3T[ER`W'<+*38@G>4 MO1&CQCL*V>](=NX0D5K&KQ)U%&>(A'/X-Y.RZ+J+Y!H\/[X-X\F+WN%\-\Y.0(+96J\Y MAK,DJO.RGF38QNI%Z(-@OC^T8+[Q(TV//+"[4X>:`9A@9'3Y8VJB.J)6\T[!^GF]T:@G&;;1>",HSR7Y MQ`N/,8^72T?F''X)%AKU>WD7G4+[:?UQJ"?=A@>AB)DGPF:"`2^@$U`H9(ZZU6((/HCAT1D4!8Y-.NDU^]=N'ITY`;#-@?M_CA>E3 M_W'.B&G?N3],1GE:XP'F<\GDI]RZ6UQ;R.\H2X8-4)%17A(+6/?)`YG'5R+K M[.X4->X6SC42.;J"[0*:_#5^-,I.?".D-F6CU4.WN+:0M=&2;A?`O7J;T[BN M?]0PC'?[X?U!+`P04````"`#<7JE`)<@G M+XDW``#].0,`%``<`'=S;RTR,#$R,#,S,5]L86(N>&UL550)``-0DZI/4).J M3W5X"P`!!"4.```$.0$``.U]:W/<.)+@]XNX_X#S3$3;$27;LGMVUWTSNU%Z MN%NWLDLGR3V[T;'109$HB=,464VR9&E^_>)!LD`2``$6B80\^Z';DIB9S`3S M@4<%W&6_N7%X>NW+Q!.PRR*T]N_O-@6!T$1QO&+?_O7__V_ M_OQ_#@[^X^CR'$59N+W':8G"'`'[X^_/Y?7K]%=V6Y^>'-FZ]?O[[.*6Q1@;X.L_N#@^IM1T%! MJ!,\]MIWKP^;)\?5F[/T!_2G-__RYMW;PW?H_0_?O_OA\#VZ^-3`?2*"K.,A MP"1.?[LA[T)D+-+B+R\$YAYO\N1UEM\2Q+?OW]2`+SCD#X]%W(+^^KZ&/7SS M'Y_.K\([?!\,.>$M`B_J%@^.=9&)3LZPSRA900 M]+>#&NR`_NG@\-W!^\/7CT7T@HP!0G_.LP1?XC5B#/Q0/FWP7UX4\?TFH8RS MO]WE>"WG(LGS-Q3_38IOZ8>A;_A`WW#X3_0-?ZC^?![V<<-#B#3^6.(UP5'-'<36: MQT@SC65$*=DL;!%,J/IF>5O:KT5V0$WQ[7NN@G\@?_CUI/(KRS0Z35.4>1"6-1G&/*-CB/:FX8]B+O,VDT$>UI3)CP,R5Q!OPHP8]:8\ M2/BP8AM/F'MT]F;1@XR9XSX.()( MHP=.#[Y'E:^_`_5GW^](I\24R:O@YN=KZGD5P&Y M-1(]J]0DY!"S&(!,372O[RE%`X1^86`^?/OC)"B*U?JJS,+?EH]Q,21?'QY8 M(U0"2)6C"PRG)W).>BK#P%"V1@R0N`T""J@V(MS^_LL9=Q\PODF77&LP,Z\A`A=N`D#HL8[FOQ"(4 MD!;W65#I!'=O1UXHL@G7%;N>:70S/3J/4WQ&?ARO;[.'-Q&.N3Z0'[IJ0/[4++JO"=F.)/W';C^YBCWZ MH;O/G'U>^8O5&Q(4QM6W7)(W1O2M'Y/@5L)WY[G[KREEL/Z-RK1```?6BQ\6@9E3NPJEN7.KJ_R60R=9Z[UP$I@_5W M;SUT^JTE;^Y]WPH&<2!77Y0?9GV,$YP?DZ!SF^5/$OZE4.Z_KH;9^AM+0)Q^ M:>7[>]^[.D9DH*B&=?O9+_%M3,\MT_)S<"^;]\G!H#Z\G-WVEV_#`'QZ&0.J M;[^#1138[<<_)K$D#Y*S-,*/_X[55M^#@_K\"H;;W[\#!*``4@Y4&E`!(P:- M"+@K'3C>YGEK4JI>_*E!W6O"$-NU,JC@G.J#GHG^)BX';\W\72\&*Q7>':!< MW05D2%;;DF8TTOF)6N^U2&!.PT"4C@?18$"XDT%VE+Y%.`Q8((Z,!&RXT2/^!TBU5G2[O',/K294]4D/J98X]A9SI?9A; M()9]#7E@7Y2K]8]9%A7+-+K"^4,S3-#021JHQH)42QP`_B1W@"ZR+-UK(K=+0@8%9JT M\-BY$O?>W=,`!H$V#`0F!\4''H<,:S\>'>;#X(30O/T1IY@L^HD/6$;W<4KEG/B!Q1#(H6$L28-TZ+I2,"BSL=92BQ_2XR_\@)96ASA=99C#G<= M/.+B4YQF.;M'RF4A4;1-Y?3W+7G\"9=W&7GR0$#8_IEVE\X1!Y![ITX'N;\? MZ^3U0'N\#F63F#3;$KYAKZEB)BKIBZ`PKJ)G'.,[K.0BDU7O&]0/.;[)Y1AO2E_`M M-\V26@2`\1A]%D4GL7OJW"]T7]W[Q)]Q";I0WH-!=QI(>-@%Z&59YO'-MJ3% M.*ZSST0Y2,PGPB9LM<\CND+8$71@]'FTP*+:6Q-Q;ATC.>SIZ#DNBA_H6KB> M?04"+51F*&U1(U"8US!IK M0@%003,\[[(D(B_UP)5Y^#ELO=&,'\2=KSD-\I1XO>("YRP'>"#;5@T.XX&& MV!>=D0K6N5_2,])/V*[`Z9U.GJ@]=XW,0<9V"3M,#ZA(U M(?]30;/2?_#'*HZ"(@X-QZ*"]<,>6HSKC($!@EN"P$5/B=@SF,AEPV;?6A>( MP0-/I*V'&N%15NN/T9[$R;;$JFQK);0?AMMA7F>Z%2BX\;;XZ!/[!LWF*9QP4QOY-M3O[/*\_4PZ48X#E>!)2,.]N0M7)Y)W^+^U3@F43H MF>".(+HE%&G#H*BAAVCWG9R72@HX:10QVHCP1^,'>0',),6[`6)IHO2&61D\ M`J5C_\,-B<$4R=F@U"4GN%&@C+Z73J"$V`5]PK]\".*$;J]^S/*K(,%7."3R ME3$NCN^(*&1DB(R[@?DI2VAM@WI\!H+45,1A`M.T0R,&HVDH.P]`4[+=K]!: M$S\@"X\#>HT8[>@O$'\#,1=$CP<$;U.]!='75">S"P9#?,SU7&YW*!+-.E(2 M5QOT!Z]H7NDZ3`_%)*\&QX=X-.N`/(,8I(K'HG0\WI*_DU$H\`GF_UH&>!." M?BV"S(?`9+$S3,V;18TIJ_UKA4S!I1L$OD2'F60V,6K85<=S$7"/-<1H$9^! MG]9LZI'?DBV-2A=9SAH^CL\5GOPMWFWF[C-8AAN_8U[ATR;Q>/YE+8?ZH8"& M@!4+`:AY%:K>U4[LO%8F=H(U+7(^:)"QQ!]YO7"T\SC69^I(9W"!PC((^.3@IS;) MBX`N,[WS3A;S,JN+#0#=.%?KCW$:I&$<)!=9$;.9J3XGR0P5N&.G@5C2'IX: M/+BNGH-,F>8E'04$*L3HZ@[CLO`B!VE9%(25`97K`@$=L4I9;1V5MB#<'WE* M7M\_NFP!`9TX&C%Z=75Z?06MF=5.IY&"]F`A]53!>%]=.X!`6BOE0KGO'#`< MP"M#QT%QMTPC^@\M`_40)#3;!WG^1*;)/P?)5G7@9X@+-"^U$:PU0S5! M=#]7->>JKVP$B663A_0'O$.?Q6ENZO:PVCGI'.*0*2K"Y.]D$CYCI@4G3>8T M>0DBX0V^C5-Z;6!F.8?W@)Z-2@XOD:80A?T@H"_HUZHI($8"O"#H,@RS+>'M M$H>8\$F6;)DMYD M.>K%$GYPZ0Z[9%>U,*?6/_#E'<7=B;AU6DN5K%#*IPO"(ZT[36?'&[H3K`ZR M>A2P>JN#8G0JL"KA(6JR#C#34Z(:A2UK<`T_WXS3:,M@#SD6B"$Q<4YWXK#@ M?LK:QM8G"I`[!C,)>-3L%\PIHTGEW1G5T&%[P"R+OL:)2LS=8Z#&@!WV6ET! MJV?N6P*V7MSO8U<]AO,MA@SZY"V,6?;$_HWY!=\'*`E?\4V"^72+N*?3QRKC M=<#VS5#!&E@9B]7I:C6(!]'JRI`I68NF"G76J;Q!`ZS))(!MBS6!&,M*#)I` M];+!1S6!5^`^0=@EH,F)IILP(BSX/DR?<<56S`X0FRX5B0P9R.6[/;:/H M#3BX:G.6M!L.L'M'ZDTCH-TB;3H2Y,:0=D<(>B?H/`YNXH1=KZ=MXFD=NZJ( M-.\^-I"79(X.HZNVXHG:;(KK7-_M&.NGYI\MC\[.SZ[/3J_0\O,)NOII>7GZ MT^K\Y/3RZCMT^O^_G%W_IQ<*:98:IT,`5SJ#)#DU-*1BV:7+)3M$P)PY%LS/ ML_3V&N?W)_AF((%"#0XX*=2PWYL72F!AIH9*1A3S+0I_0-9B]XAB-+D&@/4G MS"5H*A-4UZ.S-4H:<;*;)+[E[3XA/6B*B]7Z.,=1/&`"A MA4^:/*26K[=Z?,)7F/"3D2++Z017YKL^!H\ MY#!'A]%]6_%$BS#%=6XG=HSUFXY4Z*S\%HT7U1I9=+<[(C`F-96(L=!)7HB- M<[L,@RHH9KGW_F=W8F=1V=TUJ=RRF:^W[$4V_()LA@!ZW+&1-+6'>B!P84(&;O=N"#" M@`2#/@-2'U,WF%N@/[Y]_:>W:!/DZ(%?6_ZGMXNW;]E_7&>((]J6=UE.*^/_ M7_3^^\7WW__SXNW[?V;^B?SZ[NV'Q8?#]S5P7!1;-FE!Y,OS,$*X_[!`Y.$& MA[312_($6(W`:HRN^!A5%[K/F&@^909/(8VCI&&3D+^O\H(57=O[(T"7:YQ\ MZ%U>/*L62H/!1`H)=>LFJBBV'VMB29NT@,JT] M?."BIOB6UI73V<-T$D->H;.7P?=H-YU,GL0\SQ7-X*+?5!\$-/[M\QD\"8++ M*&(U-H/D(HBCL_0XV,1D1%7G=2IHH)-3)];Q,ZW3+IYJ1.+K"C`I:. M,D;83I**#0F(U!5[_F3)'S45:1.NA)"8KVFD^2K@6Y#6*C9,+J]5IT"O0@KT M4/@2B:#'`3B`7>(RB%,3`R M9:FGCC4BPA4FG,O=7X8:$[T4K:Q"?N633YU?5D^ZW MRP!AO)Z:9='+]:&<>S45"_U$TPJPWH@*2C*QG+HIFOEDV2^^;7RP/>?M'4Q_ M/.R^DGBR*6XLQC'1&SI3S/&&,'$7T-9!_/S(I_PHXV0>?_*A9+ZQ#^5!_I,V M"7\P^PG.YQA+(@)^ASBHHN&<3YYH'OD\F=_-K8;NG-6G.,URPL%`6^,^&(RC M4K$KNJDNC',G)6>@IQN=OJVS]K0URHFXGC@L)[("KTG[ M3GE,[WICCS^.N"_SNWV&1C\G'$/9@WGD>+850=_WZ>:$`E<^_0;>I\\JYLZ7 MSRGIB,DGB.[Z4TQ0,4[#:.`W];7BV!0-]*Y8H+)J48/&KH7()AS@U_MM!.+V MDG3$\LM^A-Q^LHY>Y:Q!=\2VU2YP?D5Y50R*$2;X;:PAH107M%1HD'>V]#P- M7,?P(`>UG49KJ6VFR#Y]&I-F[-^3+*O MO;;WO;F4#@5JL38L1GL)IH8'6%@-,2-Q8FE$RUI%B/Q49$D M;9=10[_4]/X+3M5H!U3"T46>/<01CHZ>OA#^S](56:8$]++^DEYRY9,)O0*. M(02CEN-%%I75GHIS%1[+HKQ5])KI+!U*E-444-"0`+Q^OXS^MBUXG8GK[!)3 M%8A9;]]=5M]U-HV6S_,JJ)LJ\PU;^YK+].\!N",SEQ"22Q#-J^@N=5Z_C"56 MU_63,O8;ZT*_+7B)`B.KG&2@#*ZA>3Q>F^J-Z.8)O:P&[Y5O/NT$;X@@,:N5 M37Y.,-L.2Z/E/=T9^SO[NV+HS5"A"MR9B]4N;C>,!U#8SI0I23VT'2K;:`D$ M'*@:=I-(LT`-,A-,1(<_6:,+P2.:7$6S]LE<76='*F"@Q926]=8R2@KI?@&E M8:-_7DN!#VY8VELH@`,=3(QE702'5W:ZG\'OI)]LV*;(Z?TFR9XP M/L(I7L7H^[>'+W][A3:3BVB:(OS)G73!.7>M0X%ZH!@6(SV ML8`:'N`P8(@96;]VCL+L):J0R#J08\%5;II;$G>6"G&WQWKH7P26]? MXA/,_Q7.%JJB4@.'?38$8)R/O8BB-S+'=NZ>;%GK+Q;OR&^T^&KK7(PU$V?; MTKJ.O*Z,"E1(2#NL5S&7.,3Q`TWN-AXA&:HOMJ<62V]U?3P/[$W%E+HK9-Y` M0DT1YI4"TF+.T@>I5\,#.+[8B$00O7$("!Y818^;GB+5..AEC?6*^FRM%@-V>' MS?M&F)"93`HSZG>!]LZ6V.JS.Y?^C"W6>4H"OEC7D(@#ZSP%M@?VIF?-5$GY M9HJPS[M;%+4;A\+M9^TM^MP;7$,'U]X+8.\8G2L?N/,TOR.@&$0;`K[?]Y`Y M3W-LC^]WJ))&9"G1LD1H&/N<1SY]RK=WEDA7+<44-[&TA+RR3`.1#2Q40\47 M2QUDLJEVE$2Q!L[H4.]MV< M%PL"0,E1UB*V4J6,L=TG3EFR)M%--EU"F)X,1G&YE10O=98[Y;\PQGW)]A6E M)D#3)"L2J*:Q8+F]9!I*)Z<-(?!9*6$OQ#@J6#),D.#5VMJ1V%``2[.T%;*3 M=6F*#I&$:<>;+).14:CRE@@-6AUY4U%AZHIK$E#]`J>5\:J2T7/3-)_*[#T7 M\G]:NM]TU.-IZ-""JKYS+)M_>K58G%DV<+O[&*=!&DZP/-02\LH.#40VL$<- M%5_L7ANJ;@U_)PM3Z)J:1I5`@EPP;FORHDV&6@7A39TD^.`;;\N:(%O?1[)H(9M]=V+9:)6_A:9-36W[U] M7UDZ^<.OU`F=Q$5S/:\PK%!MB>O6[D<)1LW?"G$6+Q!EX9:JCJS6P0CNY$&G M14!37'T6XY'YN6 M$]>)(M\'EV$`[GVKV='NJRI\@@?[WQ8"7>)RFZ=T#RJL=K^[M^R]<`_?D(P& MET1@I739GGC3S'!9`LUYEMY>X_S^!-^H.Q-K<:":$AL(TNY'K$$`:$4\R(UT MZRQO\*C:5:FO!/6`*-8]RFZ2^)9-0,%ACG07)YI)B MX/:DZ7N=!UWM%H;[#L/X\'G#6@%4F4+2)%`)Q'J>8_'.9U])0"C0-B7K33++?\B2!QK20X:+@ML<\^86\%DX MLWY`X`(L^W[)QF-:?TI M#P;,U\D.&E"0](9!?OKMD2D&[=4FXFBZM:W05KU`MFUR.-M M1D1F5^LJM@;)KGG>25R$259L&GB@D[PA`5JG="I@]R=P>D[Z)RH5/&W&4AVI_=+@ M3#SEL*A./E**'CS0N=_>'P'LT&YRSD+R]*?3SU=G/Y^BL\_D]U.H M\#92!+7YP]G\T;:@9W#T-M8-63>P!,"!*[AZ%!A;-Q%#M',=O',;'V9&4K'U M]VU>0@)L+'MH"B]/K9*#)BVM0/LR)LJ5TC?(8[FA9>62V/N MJ"WP?=(W0W=MC.R)%IK[-1&_UD>V&A`<-_C"8&\A)58'NIB^CTNV^T[/_;.4 MUN+!:1AC83=^P*=;T@!;9ML+VEESFQ.`6(#;!`8C*0TV M@JR(>*RO0YM$%A3\U%B##22-ROH4-N87%_):<4+/N"Z"O'RZSH.TH`F79$&S MQ323^CH3GP_$DG&DH"XACQ>[?3?9G@[`E>6Q3$HNSC-0Q&"10$P79*:QTJ'\ MQPFEC+:;7P]_5&7+IK'6 M`MT7R[4(.QJ#]2G$SBDHX&;(]J;`OV^))SA]8+.'@0TV)3C05L<`^ZV=#06L M^XT,+2/])7T#CCB\%XNEKA"#NV9J>#]41[\KI@(&5Y[!#:&^]NQ.)Z`VN?:5 M`7*/0,@ZO2`_A4_#.P(Z%*CU_[`8[=6^&AY@;3_$C&1I*Z`L$$="OU3_SFT0 M1MD4UC(UF=DMW,ER!B_R.,OYW:Q+'-)JL_$Z#GFV=?2W;<$V"D1.PZQK`>/) MN,\MW$?<.M]P#`V0',3QC$INX!-2B--"76)H1\V9L$,JT(9N):S77A)2;UR M9<;#VSC32DV,]_H.L^*DI^LU#NDI=,*,D!CQ=4;L.+QCXY*E=&Y-P,WO$KCW M:_L,22-DH5(%'US7,B2+S"T[TE!=!1OARD92A79M>PV&W-6-(@GH^O;@5^L* M!;H:B_?7._""+<)+O+L8Y;?!V?IFOY#_V1Z*<:8"NSM&$MA M9==D#$F`W9>QXD]]<48@LZ#]4'Z_Y?%9(KW,YD";2K-8N"51#L'G%IX-Q'#2W# MM?.7`H'X<`TG_8*S#):N0__&YB0/%?AKIYYT!,=$<5NSJ'EJ_@[8ZA0C#5AX MC_F43[B\H_6)'S`_*E]]38F_N8LW%Y@,%M&R6U5);0M\H,)\M@*V"O69(KLO MW&?'F2Q;K-=6<8&R&A]M&@(S%?4K=8NS?:5;2>1`-T_=?I)<7*"B?\_T`UH4 M!YQ!0EH$_3C(\YAXT5/ZMTT>%WB!SL^/?3@OZ)[T5N>S1T_\3)8UM&=S,^LS M8PTEZ',!:Z'-\AJ49#S*:1C@T3J?H:*WH+ZJ.L9G-!?T!"#91M04KK]F_(^( MFU:UJ@.\)Z$8E?,XQ6CI\K:NK]]UH1O@5F[SCU`!\T(5=YC MP_>ETXQUQN(#%=QD#V!K6R]&@#8$:RM*5.4#XUIA-D1A"E\2@:5YT!.LC95T M?%L9#PALD>_O]:I8R^&X'/]GOB)F,MBNA[M(?JR&Y:+HUL)M#/"5L(P=HW7P M&$7<=L2 MN9F%!#*2L&=4?5(6,Q7#;DT% M)G2,%%:,%Y8DG`>)4?Q)^U:W+ZHTI*AJBWN=%;5J3@7C[:81VM+%J6S7E:OS M2FAW#NNO.+Z]HWZ<#%%PB^N4+3:Q+X3M;9V[LJ0!XZQ&"2JZ*BL"SAW5".YZ MREO30!41M$O*XW3$@YA9/=30I'5*:0^"2MK*#=,)2?>DADLO'-6@=99STS78 M473CM:$T0%%$V)7??EZJ,+X@V^B9^')-S(EE*BC*@4U%&:!LV[2#TE1RFX8L M3'&W*7F??(MC@=A;4/T:MS7@_F=H!A+VYQVAV=?^U1G?Z]%&CJ^ M[P!T!!ZW!U`1\7@7H,7A)/L`)W*E]FTG0"^X_;)88K MWM40M9F>FU#S:)?`7/C!_8)A4G[L')CR:;R"K.OQ]9>10LE=6\8(%NV/MIT5688QQW(RD,TRT=)C(^44,0Q6E1YEO9#/0Y M>BT7_NJ;\%2S^ZCG[9W@_-(WX)#4@U<-5!D\(ORX(6_Q>JKT4Y;0R=Y.[-VQ MP"P3IM'O\]49[3F`=HYIY,L\=%)[26+AL%J>JGIIUV,)EQ&?[41JVO&43*>" M>I/\@*`>%$&"4=&\XMOQ<.Y\VS?DU1SYLV_!D\'YL&_&>3V/J9=A8X!C#D3^ M=GQ'1,'%6?H9E_5(L.O407'W,\032\V8I88M2TU`V]$8CDR3Y_,QRZ_(`D:8931GW=-$5KLW>1U'QPS: MB*AI\QI?8Z2]#/M&Q&5_42XN!(2\DV<4]R88QFZ4DXR3>O/"PV@WP9!(8IO[ M43&I+^5L1(0YY':WOJ:1C"9"#.QX+5#*+2KNK3GI7__X/4NR^..?%HB,TX8$ M6,)]\@07(B\Q&U)Z`^#I.@_2(@A9DM;1D_AD^1BK*I_8$(`):/8BBG'*'-MY M^+%EK:?I%1AB<$@DP8KZM!__0@D!UNP193K)[LF\U6!8:D!XS6NSK-(P#@6J M22(+`QKS"X<%:M$W,=/C:S#SZON[XON?LYQ$J*`H/V&:GM=AWPP%H.JRH1A- MN>4!>)@ZRT9,]4-^KX$":A#1+QS5;1>U9R>(OI;R9-(L:8KJ&"'W[LMU3C%H M;&1=./B]Q>M,['%T]"3O/289D"F(PG7\VG\HNNW!QE,$[26V+]N:=E@-:230 MIGWH6OV]Z#3-99<^E;OZAQT0K=MS,"I),RJA,"IEUFZG1D1\PE#QKFCX:.L>C)W3\G$+%-S(4 MDP4)Z_&8/$*XV^_Y%*=9'I=/M:"2-GG=`,%!%-L%>]"#V3W:>P#$3:;1Q)SO M1>W):=\2Y+/!!=JUQ+QHM<3L(*P`6V+./!;Z'I+H[.P,ZK3'D>!F[4'=^;RC M;1&GN"B6X>_;N(B9V[[(LX]9?A]<8N*JMZI>($:8,'[,0BC18QF@.?=-QCSU MCUDK3"2@+A#!10P95=A0]C9>L.KIJ"P?Z9))QPKY=UW28U[)/,H0S_WRQTJ@ M>I%CA`2RE+'@S,@*"L$**'Y!%X$-6U\$PI$V7FM4V<[]-J8 MX:OD?JS"6J,R8C+=P?=O1285T'1=UD+V:G4FX=5WH4`Z(7NQU*V0< M4?YP6K#ONAN(?M^CIQW(1?!$_[3\&N01^]\U87291A=$]L_!/=9160+<\X;"TCGN$][JUW-B'Z9LOFCT=: M4RUH5IL(V+)5T527;5,%OA`'_%TQVN%-?;%,/>$Z)PN5LQ+?R\[!C;!\ MFLCWA!F>S#' MARYD,MX[&8XD!+1'V$KVU"!A%R?TT?P\V^\5("1U:9Z>@ZJWJ<%JWW5FWM'U1 M_1UHGC[E*%PU`@I#L!N!JF/8+9F5`YX(S"]Q^Z/K9/;$L[&'*][([?01YV%< M*,_WQA#RT*-I13;V9E(J?GDR#8O]P"VV8&XNEM&E=)FA[]\>OOSM%=H0C'E< MEODT;#*!*[`%:@`]],(>"K2OF[41Z4IL,XEP#:W2072A7]&Z M@JQ]+4B)O[W9OB"LW`4%YJ>I^Y3PFW`+1#P@IGQI]5R+`;BIH1>BMWLA!X?9 MIM#QHIB^ML[TM;KD<+%N)4>U=>*3':A6YBUKKRV8,C[JE$-'S<--P6'AC7<& MU:3\VAXV2>F^!3FN+UJX#/>4=,SC@#O%GND>B M'!V[H1ZBY94S-!/)/]8/TAOC MFVHSTS-ON(<:3.8+O?.![1!QA%.\CDM[]ZOXGT/#%WPTP:.'J M%CREFAXWUDI=D?//S=E*#7L6/O'\=A<5D7[V')=QSB\0^3%U MZY:4E%V"'8#UHPYL[^*K%A"\?JON! M(.U0I4$`B$N#W$B"4(4CO7`,?!C9D4-[_JB`!3H]T3'>.C^1`;H_05%ST3^, MZ&@)\-'A+*R[TW!Y<3#MX8D>!4;?3<00U5X'[US[AYDQ#\6@!R@.!(&;@9XK M;G$:P/LQ$^T)H)N-GL]Z9]-F1GH^<*M1J4'G/EQH[$ISEHH]0DQUJ8?EAT8I MA-'I50<%7+ND_!CK6)RV^]3,V85\H"W[)((U+2:"$GTBBG&'WA\N$+WJ#ME> M?7+13G#(HDLMW:$?_4*F_60]H1RNQW&R/DN+;4[WSB]Q@?,'U=Z-'!1H]:UA MN[7HEL"Y7VLKF>@OL0DH:F!1!0RVKVG'^$'<,)YS8,@#Y:;^DUDW=]VNY4A: MT#7#1@@NKP9F00BPSIYB*]!6C5R`HB28[ID"42-O!N6V3\4U(IV\%,:V(K/A[ MD\529<#4?0=IODM<%BA8K^,D)H0!)V4*EWBRQ53NZTSC;L:1\"I\:<4T"&52 M?%_"FH8Y\Q"W0(0,5]^79?9J3C,UKW0P@<#+^VQ+\S6"I[IG0FV=QUF^R7)^ MKZ)OJ3Q9CUAXCD,/'S5 MG3K98`@+Q;_&Y=WXB&9.U:L@9SL8!G'/E*0OH=".7QL745/F?D*DC;X2X@ZF MM>.]Q=ZC(HI>!,01F(>0R5;+USB_CU-^XY"=B"BWG9:W.6;)4I+I_R@J[M?/ M>PA;+Z1'D`!948_FLZ>G`B7$#\UX^.*&N6$V70J;.D%-;Y[66:I%M@<"NU]V M3RBT(-`5SA_B$*,&A\Q:2F%0(O("R#+-15DLT^CTD=Z5IM45!RA2HLLS# M8K3+,:OA`@PKI:P5?3P[UMZD8*L3[1WG^2@<+7S5&QWR^9UX4`JYLF9 MD!;+XZ"(P<*?S#>79JY"G`9DTFERT:D-"WS!2<:X]&*3"`AWH:G/A>XB4PT- M?G^I9N1+6FQP&*]C'.EK**KAH?*.!@1HYQ8I@`'RA[2<2'*$*H41$*!+(HX4 M86$DP^A9=/V:0^D5)2F$^YFQ@LEZ#MQY##+;E?*@ULO#>6\6J>:O=ES.S*1V M0CK9>.YM&>\&+>,=O&6\TUO&.P\LXYW9EWP':QEF7,[,I)%E[#V>[J9-)_BF M/$N+,F>*HIE;RP!A)DIJEL494A_*^=1(Q4*_6R$!1#M(\+ETF_'!+L-JAE'S%LUJC)5G59ZBB MW%?WACBL<_I'&@LCI_9,!L1AYCV1!VMV=X3G0-GP709;>>WU0_<9ZNTW]]/, MZ'/P_1K&A;:070L"\`NKR]0)CV&^LM8%5-\9M.2<,9?@E18_Q6E\O[W7:F0' M!JS*5Y_13DVO'0!$!:_NVWO?O((!ULTI.'6HG\'CL'ZV88#T4\9H2S]%`/?Z MV7][_ZMS&&C]G(!36_TLI;@AQZ3A__R_4QXABZ6S:S[A#9\UR&$IX!MW3V&?7)-Z%[^TK\1><72ML;Q`"X MS&0F1'.-20\.O8?9P)Q8%G:,+0&N=3)JSLS,/ M%HJ=FS/G`^4@U>!>W%+JL:^YJ70.5O91SXC!C:7S&:H\?@SBG#577*UY5S+> MK>PZ8[?O5FNQFK7$+.S0W8>$,>+5\<$&%R18V#/8OV--2*`'UA.5]L-D5,0. M<^R2.7GR-U8A_X'3MJ<#$K)'" MBJ',DH3S"#>*OYX2UU200&:!*"&JU#6I:L>+/"#4$"4'5=9J&JF9&$2-BCC" M$U>M:'N395W\:K5FCJ7=L4+BE^S0`>XCC1"ON:QD@0MSD\F:P?Y$LAOP&BHT MZ/'H=Y8ZB'ZJ$/\MR:B_1C69H$,Q?8&"=%?FCOK-BXD9O)3 MJJ,LS[.O-)$IV)`GREI4=B1@0OX8,<5X;X/O/-C;,]<_NJ(+6JJ;[1S;!:I/ M+!M"J*8$<\HZ@:R[++J02]N4NT/WE;0WC;2A0MK14P"9`+3HG<1)J4'=A_8A MMNLPKH(#"=EZ9N1&L.H9`:(H3L.P[WQK0ZLE\Q73Z\;CE!*N)[6V3]NDC,-M MGN,T?&JX+) M+#\H\"7>!$^L.*W%RD*&[,\"5BW:T-*UC^G%HE7%EOERM:9`^S#4-/Q9J%K+ M%[8GQRA7"@5K9,?9/0FGE+&/&.\:GUD,C9*"/^8V(.20S2G0O3`\+6_FUK+I=V-+;XCDVP2-R#4^(PSNN%-@/#5 M]J;>1E"7M-8``V23#;+>Y(XI(6$RQ0;8Z:<2U0A(P`"JA/T,>-=G=LTK@,-( MADLB:.UCM(4DY*!`$4O#=BM*2>#<1R8E$Y++_114B$>PU2;VX7Q(SZN?2:SZ MC?Q.?B,_W`0%)K_\-U!+`P04````"`#<7JE`3<:G;:\D``"T>0(`%``<`'=S M;RTR,#$R,#,S,5]P&UL550)``-0DZI/4).J3W5X"P`!!"4.```$.0$` M`.U=ZW/CN)'_?E7W/_`F'S*I.H\E6WYM[5Y*MNR-$\](97LFN4];-`G9N*5( M+Q^VE;_^`#XDO@`")"A`D"I5&:\---'=/S0:C4;CY[]^+!SC#?@!]-Q?/@V_ M##X9P+4\&[K/OWR*@@,SL"#\]-?_^<__^/F_#@[^=7E_9]B>%2V`&QJ6#\P0 MV,8[#%^,*]\+@CGT@?&T-.[A&PB-!V\>OIOH-RE]X^3+\,MP=/YE8+R$X>M/ MAX?O[^]??-PV2)M^L;S%P4'ZM4LS0-11O_BS1U^&J[]'6<-/2?: MP$480S\$G@-MC*G57X/I_!;-A`5@&SL_U4M7GWP@MJ@N=8/4[6?Z)?# M2]/!T^KA!2#[(8*?$L$-CGZ&3)\;OH`06J8CG)42]0WBS@Q>;ASO78AV"(2[ M5X0>0#M-Q`1'OF@P!]A<=LT4F(&^&UZ;MH80YFP']X04IM'%YH?GBN MMUB6QUDE)&Z04X0TOXW%(0V63%#/ MOND&IM5*XV0Z`K4?/07@CPB)Y/H-RZ7U]*D2ZM5DSI"]MKB12B'4G_E\-)\< M!JRR&M&,7/^FE''@C'94_+CS%K'=6.LH]&E9VXV23*?7*38!H0D=[M'2*/4W MR;Z9OH^^]0981\TZW:J$^V,"[^3MR`'3.1:BA=:H"70BM`3D&N(US'/CYJ)9 M;?OY_BW1>F2/YL?U?`XLM(([#@Y9`/O1NS:M%]S+H._=X.#4 M#731EAN:3BY8=>-[B[][T`U_(*A%[(:!PJ*H$?2YFJ:V*/2LWR?P#:*]O!U\ M\]P?((CW\>C7R(3%_TY?8Z9:RD7DE_N4QS7J[RT!B#\\BWSKQ0S`S#%=-)C1 M8/@/_*,P$7!]K$^NUTA%K4(?/D6).^V:NWIB1'KID%]SSO0=&F$Z3DQ%P$E'7A#@(T3& M#-BKW\(0?V,P&%P,C`,C(Y3_$1$U$JI&GFP\XEE>VN+P-0[K'U@O MT%FA8HZ6^X["3L?E<7'I^8_@WZ37F!HK342W$LS*6J&ZFEN@1R M;,K+M=51?4WLI0H\D:W`1]_$]Q<>EHLGSZE16N'O>BBJF:54.:>RG<`D&'D# M'>!?(4:?/7]9HZ*:5GHHBI6Q5%UG:JCK'CSCHS33#;^9BSK?HZZ93@ICX"S5 MV+D:&KM";/HX$\`&'_\`Y"E6:J>3SEA82Y5V(5MI5Y'O%]PDLIM/:JJ'ZKBX MR[;/`]GJ2P&WCL3&60G!-`KQU3^\,I,G(*63'BIMR6>F7*;@R,^'Y9/X;N?S M_+?YF,[JAP-\5K_JCGY>T3?R'U@W"8SIW$B_(2'$FF8)9J,A'.XWM,X?,X\& M9X/CBPLY`>-[\`;<")#"Q-F?E9MV/'*M1HFI;!$CD'(.=()P.O_5\VR#!6\NEVZ9>R%%W!FI\IR1)08\0V%/4H]W+)9A[_NI2Z0<(OD(WWJAE4D)FKD@E M2=C_"L(7#_WE#36)]SS4[<5&1J`=3.5*CA+-WBZ+EXHGG>Z7:/4F>[6$UEI" MBXU+2HBY=D-#R)S47#/]<[&9 M04%DLKH*4(B+=S#B(&ZK'`BXU-B,`C*3?2=&BU-J6HF%4:UI:]T52V.3)ZU: MWK%N;;U!IC/>HW9GO(4/2CSQK6$<+=YQ*9V&I8RIYWZWQGDOC%T=_-LT-4Y] M2;6)OKL^,!WX;V#_:D(7\S)U)\"';_$)23#V88!LSB3RT?\GJ[CQF\F=/`&]L;S'TP'/``+,1]"$%R]F.XS$AL2P%IJ?_,< MG-^4":\!GV*(ZX+)'J4AZM1=\OZ"-&OS_">S$OT>R2D`$Y#\RVD@FPGJ`CK! M$J!<:=JFF`9%F.B_G`A/O)GGQ^IM'RP5_!5=(+D)L6B2D4"3<"^XW..PFQ@T M28V@B(8?4SN`E\WF"&PVB%1Z1(8I9'3,&C)*B1LI=9DU5Z;S5;G9F9?4IFV( M#[%T+1PG#,\&)Z-.]W=VL_Q?9X%7)[.8$H"RZP3M2P#RLZ>N6O-HYJM7JRVI M)G?"=EKJ@4GUI;;*(8!!D23ML["FL!-N!B_X10KT#[X0\F8Z.*%E'%Z9OK^$ M[O,/TXE(VV>FOHJJFD5K-2MU:XY[-0.2RC&,+L.9&'W])U/O.]5^"'2_S86_P$$/(V M7O$.A6R#:5T4100G%+@Y5'=-Q96`WJ%3KFY;_K,>>J-RH^X">HM$ZSY#Y+HE M7".477^D"3L-^F/IJH=N6W,J*K5.I;A(SM7`232L7M>ZK1Z88&>M[XKC79TN MJK>EA[(HO(C*[E+)L;J#YA-TXC3T["7APN.S#=%,UN[*8:-UB+L3Q^HZ8#FV MV.+8Y`[*Z;J3RJ@(8.%>[S(_`7$_#4$*LD-5=9WRP*(BS8K)SV M&LF6E"V(C2*^-(P&#QM04==4/T0P<]EK4H(D-&2Q^YFYQ(%[MA.-8F/]$,'! MI[I;>L2$'R%(5H1!5FY]>RWUR\&JNM%R9MWN@E+YM*E5!'V2CAS?T!IVO"I%@JS@6)B[$^`]>"Q(FT)6:*:=?(0:@D<-> M8PHGLH[PTZ$W@J"FI7XX8&6RUX""K$1)VX8)&S,3VK?NE?D*0Y-T>$QHK1\D M>!A5.J80+2('W^]FJ3Y#CC3P4-$0#`($("BGP%'$;[P'H0E=8&?5.7,B0MLR M:!%?+FCNJ!]^6O*L;@;"(RY+%?G+1O>AVE`_[3+RV#5CX2(Q`"YXQKA1)915 ME1[SOE$_)##RV$,U&NDX*#_I0T!!N9E^&&#BL._WW$7.9X%5^,00UP\S/M\(T]"D MTJ6P=S\Y&PZ'DG*`DAEMW^@I\$^?$CJT0OB6!0SJW M_(34G>*L"JM.=D%24.HAQ;;O7*J@4D'ZJ+/J5)[57;O']O]%09+Y_NC=`\MS M+1A7`5PG,SUZ8DQ"'Y_:'81M3'H]7X>15/1F`M#P+1A#`?WL@!@3KCU>X&/5 M?\>_)UZR:NZJ'`XW!IQ2OR36EXJ6^\1T@K":D;[HCW M;[=!$`$[_S1QO(V[7KPZWA*`2^`"Y!?@4H"T1!AV*GL4B15=KQ?YSJ0YZ&\P M0'S<>/[$BY[">>1D=1'(+CNQRQYR'>345Z[_N1QH77]8`$G7_$CGU0U23+TQ MKY$U`7N=:.[!V:<@NZ9\-22J2TH(BB_NX,1)I(5$*]\F/M.;FFEP8;(B3L!)2#7F]QCXXR$>3@*1;-J`JE^I(',\:J M795#5T<0L*"*40I=4V_4O+M5%4?VI`C9;Z/VV44$-;'?-;"Z+=`IU>#CMD-I MOUV$$(L(U*TQ4",@[!66I41[H(F5P"Z"@TL670,/#<9&4OR!W5PUU\:#*\4B`Z4E"B[N4P#+6/KCPCZ M@/CN$RGFSDQ`.4@(TF=-?+V;3'K>G$DKT>99`-A!',\U'3"==5:W?@TE$FH@Z:M\!+2F\H=_>2*(24PUU_7A*O%(A(D^DE M3><3B+ER[2!W_Z7!,ZKOI)SJ!>F-[`UQR*%G#XC[5L)[X&%H'`V.4V"@7\3O MTT]@D-2Q0>,+&(L'7F,`")JG]W!$+\8>HY62\H'84_(JI%YYVRY&IJ[ M`T'Q8A)5_DRE)^3R(1"<2(TKE*']2[.#WM1O=X#63A24_#?I=_G7_.3M^%W^ MJ44&6!#[[B8T^,0AJBRP2K:&7E)2T^\/RP&]XH7]P M_/[-=/"L2ZX&E7,J"$CC(:$A305F$NDG#`?J?<6"L*:'_B(GAXD@%79R< MGH^.9-T!\Y]--ZU%L"XRE=0IR`\\5V]Y77YJ+?-'I)U+A[Q1%OT991:,-GJN M3O>-B*>'8JG"C4)H?GBNMUB6K4/V3%2YAEZ#:3BJFH:,DH%(&0DM&1'1$C\- M>0'DYE+"N:71-$U^8GME9C&K6@J152ZN!$V^XO6[C4T_TA-_C-/PN#H-8XI& M@:21TNR^3).&2UFKF[M(JB1;'M`W+VR<<$W=E)EW/,HJE8[E9W`[IF!IYL7I MO\G[%FQU1(>#476V%:A(P/%E%.!8+\[:>4(.3#R.AB6/WD7&9*P9$;L#S-99 MF8G)H[C\Q.S`YC:XIZ7)F<$*;ZSU3!%3ZI3-$_KST9*38G7[K!E;2SI2^ND MS&:W?ICLDYBYOW+SN(6"JI.[&_M;.+_QZ35,RLC@8)SGXOQV@+;?@'4M/JU. M]!Q1`U$UBF0E/5=`X#+GA]`-`!>-`MQ.3\]/3B6EMC&-FL'9YB"BG&7HKKE: M][RK2+;06MR#^/GRF>F'RT??=`,D,`ZW_:QJ*E**1DS2*-"4D@A:R]\D`CBQ M`]?96O^]P5RT(:6,U2#IF=UD<%!0SEX(4UW5;'05RS;8#%*$[2%Z"L`?$:)V MC8OGL!J-\YJ-Q(J2D9*2X6F7V&G:/Q";2]DFE$;3N"T@M5=N\C:II>#M``MUP?/'71?YTESLMICD+L3<&1E"]=;*0)&CB8ZZ7RJ[3,C_@E43;W^'B`;%!S M_H?Q.:')N3[O$T%^>[!>@!WABC'E<6%@6V/7GD`G0ENZ6,"-;G0[:LI,Z#9) M)")YWLKS;=+I/]BR1J'-4.+R^7SS6`F*LK,W+9I*"+X M[6WC+`M`8\N*%E$C>I2UL)H906=0D7_P'EIGT+K17#>1N0SU:: MB9JPV`2$)G38#,6(^4J@\3FEJ]O93.T`OT6+)^!/YW_WH!O^0%]%DBD'38GM ME)E]W:/H[/PI<)HB*,P8VY2O('S!E0MPI=[X?O*[B^S-"WR=`=_"@GPFW<1F M[J$3,3PW5"G7T+T_)OIX[E6E!29OJ*#:;S\4NQ^M*?6D\O?<<<(+<1>Z#C#T@Z^B2V5T[/ MHG17@PHN&3#H7E+=L/SP)]["A"Y!Z=6&ZFF;2RUC4^V2XA#K*U[*<\IUS"=T+%J.*,5E<3\NFA%-@8<%(Y'$5_'3<=1 M[)$,)>FH1VPCCG^-AN?'YT?GIQ>G1VT15%4_T@T<` M^]B'2JXNC^8V$/D8[B,?NQOYD!?LB)EEB'7DVBFG]XZACB;6I.N[?F-;WIC5 M*I'2S:AA/\&PG5",D'5A3;*:;:% M!JIJ;&91QS`4+MX!+?AJXI(_ZW#(ZFE.8*--]G?77O]W)FP"4MH3U!-6@N71 M1`BAUS??);UI^4\`GU_P M;$/0-Y]!EE,8"SK('4#0`,9%0T]X=1>!H#>6%+-@M<+E\9OUA`L[JX(>41(& MB_JJ**T7\_$ M@0=KK$:+FY/)MLZIVE15IAB&@_.3HY/!\GQ4)*'1!KH=]<'I@/_#>Q? M3>ABUW+J3H`/W^+[>,'8AP&:71.TVW&?DP*2EV#NX7)Z'P3KT\.7E+% MM5N;$I/T$W[5\+L)Y.XQVU)`FJ0QB!,4VO7'BWKOD,T^M,=M:RGU<%RE)GC_ MYCEX^[46VCH>VHO#T/)[NPEED<(2=$:FOCGF$]KFL+Q'<2SJQ72?D?#0ND2478,+(8:XCBCM43*"3OQ4=17R_"R2D` M$Y#\RVD_FPGJ"$#!TA!T]K?)"K[-`4]J@6,L*-ZH9N4.*&M4,S>2VCYX,,H' M+"4M<&Q5JJ^21NAWB0$.8@N<&=SXRK09O-PXWOO?@(W^G,27F]:_37Q[JZQ3 M[5HH34J"`IBOL9U\"$T_5'#!W`>&^H?P9J-`8C/C]T9Y,^9FRR`M44R"@IV) M6;YV;?6!3MX.KM.>Q,":YTM;;Y8W)1-!L4PU_(A]1&@#P.P]_"/VDL'>='8W M$]L&T4T)15"\S%PU,<8"N"W:_SQ(@&1"Y[Q,#84@Q%8$WZ=;/OJF&R`F M,<.7R_Q?*`7:V`DHIV@&Q56UW9%?=2O3YX=/K<]6;:B<9CLJB:YUE0NVU1?P M0NL:!/XU?F\,P2P`WSP?>0UF$)(K>35T45KC["6]VG`I7<>"5^J[AGI>U8;* M*;^5(6?DJ\^2\=F-NCO<`]NG*_PZ8')?_='+/VQVN:Q_.[!FZG8GJJY^Z:HJ M3NZ>Y*!6N:_.L+H2CJD:BKL'*%8A]'##0KHCN7NO%+:&E1B6*8=_DG>77Z$; M#R";`S47ZE[XI_*!_YV%-Y6/F?CH!H!O3HES7%O.-N34LWD(@5A*@+O)(#;;29PU)DG;F_3F@2P[PF%V9KA)#)@*\4%3^A M'<%4&RGTF#76WVXIYBHM3)D$':[6!2LG\`W::+,3("/]`UEE8"?O&KG)O].8 M0\X;7"?5I(O\&/YL)*,P/E^EC_/A+QFKD?RW@<9RD`PF_1M^WB_Y*1V0Y/U1 MOM9GPLPW+VQZT(_>*7XK[NS\^'1P/+HX/3T_.>6N4U7K].1>Z7*Z;S,PE_M7X MW?3M^/\>T4#1O)LYIOO-7`#:>WW]?5$9L+7%2`1`S5_I MXU/*8%,6LFJPO2DQ:Y*0<27DE<31<#0ZOY",O4UIO@HZ-N%(1PRG=W9'2-%A M[*4,0+HOG%TXI@0B)1^3UNW!LBTHO@LZ,R%I2\_2=4OT3]<>=:[SL=YK"L]( M5CH?$L-M$$3`SM^-3XJTWP/\#(JUVM!C*_NK3PXYMB.F*/)Q MH^L/X%LP(`8G^0GM(N#8!2'H^(24VB')SLU\SP+`CLLD\*"KL9^F8&K'=P\' M)S7(V628^WKQZGA+`&(9S"+?>D%[#[S%0#N-T6#X#_PC;V2[DO]3']G./IU& MK;./&_B3<30;??_S[W^)_UOS6/;9Z?G94$R2<[^Q;"6VT?QR;1_+9O"-93L: MT5,`;6CZ2WQI?CI/'"Y*))K47AE%M]51C2=+P>/0[]3.>YRWOT MF&YC1V6TWDYG-3IOQ[+TV)>@2P;Y]9P:+ZUIJ1X6VNFR"@I69C5!@;[GFYJL M2QN6%D.(5];*IM'YIA(6<\/(DG"^J9NMQDM27E28=>K*3>FA'AXWA09"O)!# M3-+QM#_];+FL"CC]5/"2*#7>38S;M3J[(E/;$I0(/4O@E(9:E0]ZQ=X/TXD` M43Q\R*/3VBWLQVQ%KOM1"81SX"?OB2(QL M*)H?M5Z<7@P&DH)=Y1HEM&*PM6V5,2$=!%^U(.RL*GP*F]6M*9M36LR?:MLIIEE\[-0=LS)Q*#[.)@4'].DZ-V]*Z*`<* M=H56P<#-J":8*)M(4H2VL;UR:.AB_/FX5/+V(US0<;!*>\+ M3]4P$FK4?M0!9F(ET0)<"P+.TENGU=);.=KQS:,"=;GQP0?_XWX8['A_J8\Z;DJOOE^5IWO*6$CIFSD2<9;?$ MUV_S(ZE)963OK-R,%Z:#]<07(!%-@JT\PA4P1W8!7,+DTD-RFD(02XOZQ[,M MOW;\$X8O[5''2G4/Q&ZBZB6C3<`B^0C\15JY."/".<,O>&`!M^._+RF M^/V*H)%0E)R%6N*O*?^4V%Q619C<:&A9IG5-E9NY3@07G$-CT0@6D]NHIEED[-9KE MXE)ZT*K6@\IX&-;F?=:T4$^#7%HHNCXLO/5Z.99[/E.5>-2HQ".-E4CCK=>[ MII*,\@0\A;8FM-E1/_^W75T;NU"T@5&2@L0@0J;ER.F543)-& M5:^A4VN1OX'W>_#F.6_0?;Y"8X#AC6E!)\XA)ICHIBZ*ZY>YN$UK7K=@(9[Y MX`UZ4<"K>Z9^.@&@/<-JK>14%%R9O@^!?XWSW-`W`G#[`*P(C;#$]2I8WXB/ MEA1U1(Y(4?3P'K%TK^(.NF`Z+TXKBH](:JX<=#IXBEP\,E354DBS=SA,[5/] MQJ9NRFF:2UULVF[D5TUO\N$=F3/4"!]:S)M\"7+CK=!PHXI*FW\^;J7K5Y`) M`"$:0B8ZZI7MNJ:Z`8&;5UVRNW`)4LJBOOJ[<@KOL(K3F:*DMDA>MN-Q4Z=J MKH5R"J-+G:`E_0WQ5^C"1;2@JK701DW%4L9656TS/VI%:@1IVOQHUG2^C0Z: M;N1'J84T`-:79^_MT`8PT2OZH:Q.]"OD)CR;SK4;UN^(:UHHI\H6RR&\$7LN`X'L!^]?"V%,["[M;4ZXEOL0PWNNB[_Z,5WF:;SO`6O60QYNNN"%2%\]_H*@J0%[C(* MD`B#8&PA@QU`S!&^,3>=Q[]`+"5;C"LS>)F9T";8(DXJNJ!*)/N"KJ`**QI7 M?U1?F#?C^1PZT`S1A(JG4+'46=WA/4=W73`BA.\>KJ)*MSQUI^)I2/[2\WT/ MISYH>W3BC7'Z\P.;"? MD%>UYHZ[@!\&CC/8]!,&7L&FMA+4SX>8BR=D+=%__#]02P,$%`````@`W%ZI M0/&=R@T4"P``@6,``!``'`!W'-D550)``-0DZI/4).J M3W5X"P`!!"4.```$.0$``.U<6U/C.A)^WZK]#]J\+%.UN1$X.Z3@G`H!MMAE M2`HR4^?ME&++1#N.E)%D0O[]MN1+[/@>8,*I]0LX=G>K6U^KU;J>__:R=-$S M$9)R=M'J=WHM1)C%;+EJ>;&-I4=KZ[=>__N7\;^WV[Y2CTTZ_TS_YW.FAA5*K8;>[ M7J\[0M/*@+1C\66['91VB25(!SY3['&G'WT9!R5S-D2GW<_=XU[_&`V&)\?# M_@!-OT1T7\`0AY812FM!EAA!33!YT8JIMAYTN'@"IEZ_^_N7NT=#U_()AR]S MX=($N7X3,@RZE$F%F45">I>R[P7D^O,<#([$I^@#;?IG9V==\S4D74N>),1* M6EQ7I;&W-QCTXTK;*J*.JW#:]3^VD,+BB:A[O"1RA2U2+INX1#O$#1?+*^)@ MSX42?GC8-77?0E@I0>>>(@D"C\5(?.V8M\RN(5N)KMJL2!CW41A$;/$=R M45SPED2BB8-\V>?=78&[97D@9\)^-<\K023PFVJ\@Q/R=24DLQF+$3W9LYV">&3D-]A&V"K\ MPAE?;GR0KZBT7"X]0:ZQ8)`\.92B]SC!,+X,;C$ME#X$8I#(`\94>@H+%N[ABD=0?$H M*#_)X:O@,WY"1X$:GQHW2H:(;95/U,(`M]L!;_&>X9=KQR&6DB/7Y99NKC-^ MC:V%YN(,*FKBY$G)<:Z?4VBQ[PUZ_5W?,P(SDX2D#\X6!(&"*-`012JB&4=: M211IJ6L%#1]8/CTI3LMPZR%>&/9M"G4\%UZ,X?$,9Y`04N[]N`Y);XOT0*`(,IJ@2!44TP5I99#1 M!@7J-`Z6[V#!I%'X'[J4:Z:HVL1J-'"4*I3%>5#O3.=!H8#XH^[)?&EQ*!NP M]AZ43*'G9Q!Q%07C:H]0DMQEPY73?88KZ"A12-,P_9MHLN"N382\A@I3FUT4,BB*L3A-8Q&7\7?D M2VDPR<-$S]Y09:8!(2^&'$I!\"$LEZX8J'^F@0HD(2,*Q64U*)7F!8_>7)(?'MA]_:Q= M/17O=K\7P_,Y(]I%$I`OHD&EQMAF"@-&*]4+Y1,6P0.Y='J.*7.<`\-1(ZX9 MA]8?\,SPW$UW33E417`-8/`SJ+(4XLMJL*J]GI$-50EU,62#-&1%*P@-=#5& M1-EP95`40W22AB@YT=Z`4GN8E`U-+ETQ0*=I@+*&3`U0^R04.T\1W M7,J]=TI4EERV'2(U7*BZ'2*F02:/5J)QHYH)4-0`BW*@+5'9?H/"2>)X^7]%G:A-FRWO.OA%IMDO"ZQ'S_T]6IJ)S&OD;2B[V@XH3U.@H MW$:G2T"1!O]`H$/;5R+XIF=+_:=`D::A[^5*U\N5RS>$F+J<>L):8$FF+F90 MP=!Z_Z,?*WM/'6%E#I/J%;(=)BPR<(:P4*2+,DX"Y1Y]_V1^-RZREXMLNWR@ M\L\OF7$PAT9I<:9``!3X=,L4@7I2E;UE3[EECE-Q7!=/)!+EZ[V420U0J$+C M0*];2\MQC0H0%<-6927N M_PHM_4/VX-^YT7:H8YU5-A6=3T50K[:*F1?K%"Q\)!!EWJZG\EGOKLP\J33B6HE MNT(DN'3Q9]KH_B\UC`YO1+`)3=RAD*-!)H]^:&^9]R@]?1]#)05B;,%S;35* M[JVH`L0N5VT@*MR#44\/SN[?0I6X8U9L#C&G5+4+C]_J\83QJK(_9#)VB:MD M^";/+X*K4$RB"7'XCRD1E@ZT3_J4)410-YRKD?KX6'S\T#(&0&BNPT%=5Z_4 M7K24\""Z^?T2@#Q<^5)N%5GJC`W,A105@K\9[?]+<&]UT3(WV`PID$#O8)Z! MBW)[9J38G@C.@.28!BXQ)V+BA%4H]6C3O^C%GO'X,;W+3?;D1FCRFTC*K(K` M1*!Z(N(5E>'W12H?YN#0XCU1_IJ-7H49!??>:+7RYG5%@`[9N).Q#0-ID7X%QT3G,$ M*@AL15Y>D;;`3EU'X/Q5K<2!T%#4'F%.WXY1::HV-+(.P\=LNC,BEI3YFU^- MN(F3,],U>A+$\(;&[\>:60U^`C;4ASH?ZZ&^#\H<2H-V"EJ,72SE96Q-<.(I M'3#TG7@1QI7)BWQ93]'+=PQD8RP$)>):^]M*4$GN(4]:$"S5%Z+C[]9C2^FR M$PUS_=K0YDM,V;NBLUO'._KG?CZLVAE;OW8C8C')APJ$VY6K]*I6E4S%["F< MD1=UZ0)$806\N=0BR%5(]YZHQS:/A;L+_-M)_$VT45]82O9Z]&TU7&ST4,"; MD]NW\H-\Q>\H,\7(.W&2YGBSGH6/F>K!_(,W>?0:>Q241O ML$5="`])+ZU`=U@WA4[[F7)/5K*F*O'',"D5(6[-P)78.^I'27RVL?N+.6PU M/*Y!-6@S>H78R82SD.*PRNNN=>(DW4L/RT+5"[[_E.F7"DY(N?!'CP_$TKD] M=:@?ZD;V?SUI-KCXQRC]Q,_BW[>>MQ?OP9/&2T\"+%+&-PJ'5OKU)3O'&3_"S9L.K$K^OJ5&75L_21XLP#%+Z.[$C M]?K`T2[0YSA;S>,/HF96W/KBN8I"CR((LS:77`BNXS+$9)*6<'].C M_"DC*3V=ZHT-[U%Q_A\7]02P$"'@,4````"`#<7JE`8FW@VE!.``#9V@,` M$``8```````!````I($`````=W-O+3(P,3(P,S,Q+GAM;%54!0`#4).J3W5X M"P`!!"4.```$.0$``%!+`0(>`Q0````(`-Q>J4#J?\?\YPP``*VR```4`!@` M``````$```"D@9I.``!W`Q0````(`-Q>J4`A&VDHRQ,``+0P`0`4`!@` M``````$```"D@<];``!W`Q0````(`-Q>J4`ER"AO``!W`Q0````(`-Q>J4!-QJ=MKR0``+1Y`@`4`!@` M``````$```"D@;^G``!W`Q0````(`-Q>J4#QG'-D550%``-0DZI/=7@+``$$ ?)0X```0Y`0``4$L%!@`````&``8`%`(``!K8```````` ` end XML 15 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 16 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6

Acquisitions (Narrative)

Mar. 31, 2012

Apr. 29, 2011

Carrier Enterprise And Carrier Enterprise Northeast [Member]

Number of locations contributed to joint venture by controlling interest 28

Number of locations contributed to joint venture by controlling interest 14

Controlling interest, ownership percentage 60.00%

Noncontrolling interest, ownership percentage 40.00%

X

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a (1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (a)(1)

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

+ Details

Name: us-gaap_EquityMethodInvestmentOwnershipPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.

+ References

No definition available.

+ Details

Name: us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

Number Of Locations Contributed To Joint Venture By Controlling Interest

+ References

No definition available.

+ Details

Name: wso_NumberOfLocationsContributedToJointVentureByControllingInterest

Namespace Prefix: wso_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: instant

X

- Definition

Number of Locations Contributed To Joint Venture by Noncontrolling Interest

+ References

No definition available.

+ Details

Name: wso_NumberOfLocationsContributedToJointVentureByNoncontrollingInterest

Namespace Prefix: wso_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: instant

XML 17 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6

Other Comprehensive Income
3 Months Ended

Mar. 31, 2012

Other Comprehensive Income [Abstract]

Other Comprehensive Income

3. OTHER COMPREHENSIVE INCOME
Other comprehensive income consists of changes in the unrealized gain on available-for-sale securities and the effective portion of a cash flow hedge that matured in October 2011. The tax effects allocated to each component of other comprehensive income are as follows:

Quarters Ended March 31,
 2012 2011

Unrealized gain on derivative instrument
 $ — $ 115

Income tax expense
 — 44





Unrealized gain on derivative instrument, net of tax
 — 71





Unrealized gain on available-for-sale securities
 25 11

Income tax expense
 9 4





Unrealized gain on available-for-sale securities, net of tax
 16 7





Other comprehensive income
 $ 16 $ 78





The changes in accumulated other comprehensive loss, net of tax, are as follows:

Quarters Ended March 31,
 2012 2011

Derivative instrument:


Beginning balance
 $ — $ 238

Current period other comprehensive income
 — 71





Ending balance
 — 167





Available-for-sale securities:


Beginning balance
 352 355

Current period other comprehensive income
 16 7





Ending balance
 336 348





Accumulated other comprehensive loss, net of tax
 $ 336 $ 515





X

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e689-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 17

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14-26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e709-108580

+ Details

Name: us-gaap_ComprehensiveIncomeNoteTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: wso_OtherComprehensiveIncomeAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

EXCEL 18 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S9&9A M83=C-&0Y-S@B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;F1E;G-E9%]#;VYS;VQI9&%T961?0F%L86YC M93$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I%>&-E;%=O#I%>&-E M;%=O#I7;W)K#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I% M>&-E;%=O3PO>#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/D5A#I7;W)K#I7;W)K#I%>&-E;%=O5]486)L97,\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D5A#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D]T:&5R7T-O;7!R96AE;G-I=F5?26YC;VUE M7U-C:#$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I%>&-E;%=O5]#;VUM;VY?4W1O/"]X.DYA;64^#0H@("`@/'@Z5V]R M:W-H965T4V]U#I%>&-E;%=O5]%;7!L;WEE M95]3/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U#I%>&-E;%=O5]38VAE9'5L95]//"]X.DYA;64^#0H@("`@/'@Z M5V]R:W-H965T4V]U#I%>&-E;%=O#I%>&-E;%=O M5]4#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T'1087)T7V%B8C9E-#DT7S!A,SE?-#@X,5]A M-3$R7S-D9F%A-V,T9#DW.`T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]# M.B]A8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S9&9A83=C-&0Y-S@O5V]R:W-H M965T'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6UB;VP\+W1D/@T*("`@("`@("`\=&0@8VQA'0^5T%4 M4T-/($E.0SQS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA&-E<'0@4&5R(%-H87)E(&1A=&$L('5N;&5S M'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA M'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M2!A;F0@97%U:7!M96YT+"!N970\+W1D/@T*("`@ M("`@("`\=&0@8VQA6%B;&4\+W1D M/@T*("`@("`@("`\=&0@8VQA&5S(&%N9"!O=&AE'0^ M)FYB'0^)FYB3H\+W-T2!S=&]C:RP@870@8V]S=#PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S3PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3H\+W-T7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'!E;F1I='5R97,\+W1D/@T*("`@("`@("`\=&0@8VQA M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`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`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`\+V(^/"]F;VYT/CPO=&0^/"]T#LG/CQF M;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE#LG/B9N8G-P.SPO<#X-"@T*/'1A8FQE('-T>6QE/3-$)V)O6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M M:6QY.B!4:6UE"!S;VQI9#LG('9A;&EG M;CTS1&)O='1O;2!C;VQS<&%N/3-$,B!A;&EG;CTS1&-E;G1EF4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('-T M>6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT M.B`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`^/"]T M9#X-"CQT9#XF;F)S<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF;F)S M<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@"!D;W5B;&4[)SXF;F)S<#L\+W`^/"]T9#X- M"CQT9#XF;F)S<#L\+W1D/CPO='(^#0H\='(^/'1D/B`\+W1D/@T*/'1D(&-O M;'-P86X],T0T/B`\+W1D/@T*/'1D(&-O;'-P86X],T0T/B`\+W1D/CPO='(^ M#0H\='(@8F=C;VQO3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQAF4],T0R/CQB/B9N8G-P.SPO8CX\+V9O;G0^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL M93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q M/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N M="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA M6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UE6QE/3-$)W1E M>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R M/CQB/B9N8G-P.R9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^/&9O;G0@8VQA6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/C`N,C$\+V9O;G0^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0Q/B9N8G-P.SPO9F]N M=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X@/"]T9#X-"CQT9"!V86QI M9VX],T1B;W1T;VT^(#PO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B`\+W1D M/CPO='(^#0H\='(^/'1D('9A;&EG;CTS1'1O<#X-"@T*/'`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`C,#`P M,#`P(#-P>"!D;W5B;&4[)SXF;F)S<#L\+W`^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT^#0H-"CQP('-T>6QE/3-$)V)O"!D;W5B;&4[)SXF;F)S<#L\+W`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`^/"]T9#X-"CQT9#XF;F)S<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3XF;F)S<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@"!D;W5B;&4[)SXF;F)S<#L\+W`^ M/"]T9#X-"CQT9#XF;F)S<#L\+W1D/CPO='(^#0H\='(^/'1D/B`\+W1D/@T* M/'1D(&-O;'-P86X],T0T/B`\+W1D/@T*/'1D(&-O;'-P86X],T0T/B`\+W1D M/CPO='(^#0H\='(@8F=C;VQO3H@5&EM97,@ M3F5W(%)O;6%N.R<@8VQAF4],T0R/CQB/B9N8G-P.SPO8CX\+V9O;G0^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N M="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA M6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQA6QE/3-$)V9O;G0M M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`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`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N M8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@6QE/3-$ M)V)O6QE/3-$)W1E>'0M:6YD M96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R M/CQB/B9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@ M5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4 M:6UEF4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M6QE/3-$ M)V)O6QE/3-$)V)O M6QE/3-$)W1E>'0M:6YD M96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/CQB/B0\+V(^/"]F;VYT/CPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M(&%L:6=N/3-$3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4] M,T0R/B0\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX] M,T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQAF4],T0R/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/CPO='(^ M/"]T86)L93X-"@T*/'`@#L@;6%R M9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@F4],T0R/D1I;'5T M960@96%R;FEN9W,@<&5R('-H87)E(&9O65A2X@/"]F;VYT/CPO<#X-"@T*/'`@#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA#LG/CQF;VYT M('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@ M8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF5D(&=A:6X@ M;VX@879A:6QA8FQE+69O#LG M/B9N8G-P.SPO<#X-"@T*/'1A8FQE('-T>6QE/3-$)V)O6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE M"!S;VQI9#LG('9A;&EG;CTS M1&)O='1O;2!C;VQS<&%N/3-$,B!A;&EG;CTS1&-E;G1E3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D M('-T>6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD M96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@ MF4],T0R/CQB/B0\+V(^/"]F;VYT/CPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS1')I9VAT/CQF M;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/CQB/B9N8G-P.R9N8G-P.SPO M8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@8VQA M3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@ M5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O M;G0@F4],T0R/CQB/B9N8G-P.SPO8CX\+V9O;G0^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W3H@5&EM M97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P M.B`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M87)G M:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/E5NF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P.B`C,#`P M,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E M>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA3H@ M5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4] M,T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/CQB M/B9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@ M;F]W3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D/B9N M8G-P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D M97(M=&]P.B`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQA6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q/B9N M8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N M;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/B9N8G-P.SPO M9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R M87`@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@ M5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$ M)V)O6QE/3-$)V)O"!S;VQI9#LG/B9N8G-P.SPO<#X\ M+W1D/@T*/'1D/B9N8G-P.SPO=&0^/"]T6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/CQB M/B9N8G-P.R9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^/&9O;G0@8VQA3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQA6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M6QE/3-$)V)O6QE/3-$)V)O6QE/3-$)VUA#L@9F]N="US:7IE.B`Q M<'@[)SXF;F)S<#L\+W`^#0H-"CQP('-T>6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@F4],T0R M/E1H92!C:&%N9V5S(&EN(&%C8W5M=6QA=&5D(&]T:&5R(&-O;7!R96AE;G-I M=F4@;&]S"P@87)E(&%S(&9O;&QO=W,Z(#PO9F]N=#X\ M+W`^#0H-"CQP('-T>6QE/3-$)VUA#L@;6%R9VEN+6)O M='1O;3H@,'!X.R!F;VYT+7-I>F4Z(#$R<'@[)SXF;F)S<#L\+W`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`] M,T1N;W=R87`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`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO M<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`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`C,#`P,#`P(#%P>"!S;VQI9#LG M/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@ M6QE/3-$)V)O6QE/3-$ M)W1E>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@ MF4],T0R/D%V86EL86)L92UF;W(MF4],T0Q/B9N M8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X@ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\=&0@=F%L:6=N M/3-$8F]T=&]M/B`\+W1D/CPO='(^#0H\='(^/'1D('9A;&EG;CTS1'1O<#X- M"@T*/'`@3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQAF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4 M:6UE3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`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`C,#`P,#`P(#%P>"!S;VQI9#LG M/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@ M6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`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`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N8G-P M.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@6QE M/3-$)V)O6QE/3-$)W1E>'0M M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M M:6QY.B!4:6UE3H@5&EM M97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B M;W1T;VT^(#PO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P M.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B M;W)D97(M=&]P.B`C,#`P,#`P(#-P>"!D;W5B;&4[)SXF;F)S<#L\+W`^/"]T M9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H-"CQP('-T>6QE/3-$)V)O"!D;W5B;&4[)SXF;F)S<#L\+W`^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H-"CQP('-T>6QE/3-$)V)O M'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@ M3F5W(%)O;6%N.R<@8VQA6QE M/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O M;G0@F4],T0R/DEN(#(P,3$L('=E(&9O&EC;RP@=VAI8V@@:6YC;'5D960@#L@;6%R M9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@F4],T0R/E1H92!U M;F%U9&ET960@<')O(&9O2`Q M+"`R,#$Q+"!I#L@9F]N M="US:7IE.B`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`M,65M.R!M87)G:6XM M;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/DQEF4],T0R/B9N M8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS M1')I9VAT/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/CPO='(^ M#0H\='(@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@ M,65M.R<^/&9O;G0@F4],T0R/DYE="!I;F-O;64@871T6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R M/C8L.3DT/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M(&YO=W)A M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@ M3F5W(%)O;6%N.R<@8VQAF4Z(#%P M>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\=&0@=F%L:6=N/3-$ M8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P.B`C,#`P,#`P(#%P>"!S;VQI M9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T* M/'`@3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA MF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@ M3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQA2X@5&AE('5N875D:71E9"!PF%T:6]N(')E;&%T960@=&\@:61E;G1I9FEE9"!I;G1A M;F=I8FQE(&%S2!B92!R96%L:7IE9"!S=6)S97%U96YT('1O('1H92!A8W%U:7-I M=&EO;B!D871E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`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`@ M#L@;6%R9VEN+6)O='1O;3H@,'!X M.R<^/&9O;G0@F4],T0R/CQB/C0P,2AK*2!0;&%N(#PO8CX\ M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=M87)G:6XM=&]P.B`V<'@[(&UA M#LG/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UE2P@2X@/"]F;VYT/CPO<#X- M"@T*/'`@#L@;6%R9VEN+6)O='1O M;3H@,'!X.R<^/&9O;G0@F4],T0R/CQB/DYO;F-O;G1R;VQL M:6YG($EN=&5R97-T(#PO8CX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=M M87)G:6XM=&]P.B`V<'@[(&UA#LG/CQF;VYT('-T M>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE#L@9F]N="US:7IE.B`Q,G!X.R<^)FYB6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/B0\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL M>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/B9N8G-P.R9N8G-P.SPO M9F]N=#X\+W1D/CPO='(^#0H\='(^/'1D('9A;&EG;CTS1'1O<#X-"@T*/'`@ M3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQAF4] M,T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;3X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P.B`C,#`P M,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X-"@T*/'`@3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/CQB/B9N8G-P.R9N8G-P.SPO8CX\+V9O;G0^/"]T9#X\ M+W1R/@T*/'1R('-T>6QE/3-$)V9O;G0M6QE M/3-$)V)O7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE M860^#0H@("`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`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/&1I=CX@/'1A8FQE('-T>6QE/3-$)V)OF4],T0R M/CQB/C6QE/3-$)VUA#L@;6%R9VEN+6)O='1O M;3H@,'!X.R<^/&9O;G0@F4],T0R/E!U2`D/&9O;G0@8VQA2P@=V%S('!A>6%B;&4@=&\@0V%R3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA2!#87)R:65R('!U2!B92!E>'1E;F1E M9"!A2!T:&4@<&%R=&EE6%B;&4@=&\@0V%R'!E;G-E7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UE6QE/3-$)V9O M;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE M#L@9F]N="US:7IE.B`V<'@[)SXF;F)S<#L\+W`^#0H-"CQP('-T>6QE/3-$ M)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@ MF4],T0R/D]N($%P6YE(&)R86YD960@6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@ M,'!X.R<^06QS;R!O;B!!<')I;"`R-RP@,C`Q,BP@=V4@96YT97)E9"!I;G1O M(&%N('5N65A2`D/&9O;G0@8VQA2!A2!A9F9I'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/&1I=CX@/&1I=B!C;&%S6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@F4],T0R M/E=A='-C;RP@26YC+B!A;F0@:71S('-U8G-I9&EA&-H86YG92!#;VUM:7-S:6]N+B!#97)T86EN(&EN9F]R;6%T:6]N M(&%N9"!N;W1E(&1I#L@;6%R9VEN+6)O='1O M;3H@,'!X.R<^/&9O;G0@F4],T0R/E1H92!C;VYD96YS960@ M8V]N2UO=VYE9"!S=6)S:61I M87)I97,@86YD(&EN8VQU9&4@=&AE(&%C8V]U;G1S(&]F)FYB#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@'!E8W1E M9"!F;W(@=&AE('EE87(@96YD:6YG($1E8V5M8F5R(#,Q+"`R,#$R+B!386QE M2!C;VYS:7-T96YT(&1U65A'0^/&1I=CX@/&1I=B!C;&%S3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@'0^/&1I=CX@/&1I=CX-"@T*/'`@#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@ M,'!X.R<^/&9O;G0@F4],T0R/E1H92!P'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/&1I=CX@/'1A8FQE('-T>6QE/3-$)V)O6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE"!S;VQI9#LG('9A;&EG;CTS1&)O='1O;2!C M;VQS<&%N/3-$,B!A;&EG;CTS1&-E;G1E3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)V)O6QE/3-$)V9O M;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`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`^/"]T9#X-"CQT9#XF;F)S M<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF;F)S<#L\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@"!D;W5B;&4[)SXF;F)S<#L\+W`^/"]T9#X-"CQT9#XF;F)S<#L\ M+W1D/CPO='(^#0H\='(^/'1D/B`\+W1D/@T*/'1D(&-O;'-P86X],T0T/B`\ M+W1D/@T*/'1D(&-O;'-P86X],T0T/B`\+W1D/CPO='(^#0H\='(@8F=C;VQO MF4],T0R/CQB/B9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M M:6QY.B!4:6UEF4],T0Q/B9N8G-P.SPO9F]N M=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL93TS1"=F M;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/C,P+#8P,2PU M-S,\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]W6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`M M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R M/D)A6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UEF4],T0R/CQB/B9N8G-P.R9N M8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O M;G0@8VQA6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UE6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`M,65M M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/D%L M;&]C871I;VX@;V8@96%R;FEN9W,@9F]R($)AF4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;3X@/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^ M(#PO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B`\+W1D/CPO='(^#0H\='(^ M/'1D('9A;&EG;CTS1'1O<#X-"@T*/'`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`C,#`P,#`P(#-P>"!D;W5B M;&4[)SXF;F)S<#L\+W`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`^/"]T9#X-"CQT M9#XF;F)S<#L\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3XF;F)S<#L\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@"!D;W5B;&4[)SXF;F)S<#L\+W`^/"]T9#X-"CQT9#XF M;F)S<#L\+W1D/CPO='(^#0H\='(^/'1D/B`\+W1D/@T*/'1D(&-O;'-P86X] M,T0T/B`\+W1D/@T*/'1D(&-O;'-P86X],T0T/B`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`M,65M.R!M87)G:6XM;&5F=#H@ M,65M.R<^/&9O;G0@F4],T0R/D5F9F5C="!O9B!D:6QU=&EV M92!S=&]C:R!O<'1I;VYS/"]F;VYT/CPO<#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X\9F]N="!C;&%S3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/CQB/B9N M8G-P.R9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T M;VT^/&9O;G0@8VQA6QE/3-$)V9O;G0M M9F%M:6QY.B!4:6UE3H@5&EM97,@ M3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@ M8VQA"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D M/@T*/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`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`M,65M.R!M M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/D1I;'5T M960@96%R;FEN9W,@<&5R('-H87)E(&9OF4] M,T0R/CQB/B0\+V(^/"]F;VYT/CPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M M(&%L:6=N/3-$3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA MF4] M,T0R/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/CPO='(^/"]T86)L93X@/"]D M:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B M;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]A M8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S9&9A83=C-&0Y-S@-"D-O;G1E;G0M M3&]C871I;VXZ(&9I;&4Z+R\O0SHO86)B-F4T.31?,&$S.5\T.#@Q7V$U,3)? M,V1F86$W8S1D.3'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$F4],T0Q/B9N8G-P.R9N M8G-P.SPO9F]N=#X\+W1D/@T*/'1D('-T>6QE/3-$)V)O6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UEF4],T0Q/B9N8G-P.SPO9F]N=#X\ M+W1D/CPO='(^#0H\='(@8F=C;VQO3H@5&EM M97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY M.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4 M:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$ M)W1E>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@ MF4],T0R/DEN8V]M92!T87@@97AP96YS93PO9F]N=#X\+W`^ M/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE M6QE/3-$)V9O;G0M6QE/3-$)V)O"!S M;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X- M"@T*/'`@3H@5&EM97,@3F5W(%)O;6%N.R<@ M8VQA#PO9F]N=#X\+W`^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4] M,T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/B9N M8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`] M,T1N;W=R87`@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M6QE/3-$)V)O3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4] M,T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O M='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/B9N M8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N;W=R87`] M,T1N;W=R87`@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/DEN8V]M M92!T87@@97AP96YS93PO9F]N=#X\+W`^/"]T9#X-"CQT9"!V86QI9VX],T1B M;W1T;VT^/&9O;G0@8VQA3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQA3H@5&EM M97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UEF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;2!N;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/B9N8G-P M.R9N8G-P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@6QE/3-$)V)O6QE/3-$)V)O"!S M;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D/B9N8G-P.SPO=&0^/"]T6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF5D(&=A:6X@;VX@879A:6QA8FQE+69OF4],T0Q/B9N M8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N M;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/CQB/B9N8G-P M.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@;F]WF4],T0R M/CQB/C$V/"]B/CPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!N M;W=R87`],T1N;W=R87`^/&9O;G0@F4],T0R/CQB/B9N8G-P M.R9N8G-P.SPO8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^ M/&9O;G0@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@ M8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P M.B`C,#`P,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M87)G M:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/D]T:&5R(&-O M;7!R96AE;G-I=F4@:6YC;VUE/"]F;VYT/CPO<#X\+W1D/@T*/'1D('9A;&EG M;CTS1&)O='1O;3X\9F]N="!C;&%S6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM M97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQA6QE M/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/B9N8G-P.R9N M8G-P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@"!D M;W5B;&4[)SXF;F)S<#L\+W`^/"]T9#X-"CQT9#XF;F)S<#L\+W1D/CPO='(^ M/"]T86)L93X@/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`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`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`C,#`P M,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F M=#H@,65M.R<^/&9O;G0@F4],T0R/D%V86EL86)L92UF;W(M MF4],T0Q/B9N8G-P.R9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A M;&EG;CTS1&)O='1O;3X@/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^(#PO M=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/B`\+W1D/CPO='(^#0H\='(^/'1D M('9A;&EG;CTS1'1O<#X-"@T*/'`@3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0Q/B9N8G-P.R9N M8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S M='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M M87)G:6XM;&5F=#H@,V5M.R<^/&9O;G0@F4],T0R/D-UF4],T0R/CQB/B9N8G-P.SPO M8CX\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT@86QI9VX],T1R M:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O M;6%N.R<@8VQA3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA MF4],T0R/B9N8G-P.SPO9F]N=#X\ M+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT M('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4Z(#%P>#LG/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\ M=&0@=F%L:6=N/3-$8F]T=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\=&0@=F%L M:6=N/3-$8F]T=&]M/@T*#0H\<"!S='EL93TS1"=B;W)D97(M=&]P.B`C,#`P M,#`P(#%P>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS M1&)O='1O;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E M>'0M:6YD96YT.B`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`C,#`P,#`P(#%P M>"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O M;3X-"@T*/'`@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M M.R<^/&9O;G0@F4],T0R/D%C8W5M=6QA=&5D(&]T:&5R(&-O M;7!R96AE;G-I=F4@;&]S#PO9F]N=#X\+W`^/"]T9#X- M"CQT9"!V86QI9VX],T1B;W1T;VT^/&9O;G0@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE6QE/3-$)V9O;G0M9F%M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0R/B0\+V9O;G0^/"]T9#X-"CQT9"!V86QI9VX] M,T1B;W1T;VT@86QI9VX],T1R:6=H=#X\9F]N="!S='EL93TS1"=F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA3H@5&EM97,@3F5W M(%)O;6%N.R<@8VQAF4Z(#%P>#LG M/CQT9"!V86QI9VX],T1B;W1T;VT^(#PO=&0^#0H\=&0@=F%L:6=N/3-$8F]T M=&]M/B9N8G-P.R9N8G-P.SPO=&0^#0H\=&0@=F%L:6=N/3-$8F]T=&]M/@T* M#0H\<"!S='EL93TS1"=B;W)D97(M=&]P.B`C,#`P,#`P(#-P>"!D;W5B;&4[ M)SXF;F)S<#L\+W`^/"]T9#X-"CQT9"!V86QI9VX],T1B;W1T;VT^#0H-"CQP M('-T>6QE/3-$)V)O6QE/3-$)V)O'10 M87)T7V%B8C9E-#DT7S!A,SE?-#@X,5]A-3$R7S-D9F%A-V,T9#DW.`T*0V]N M=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B]A8F(V930Y-%\P83,Y7S0X.#%? M834Q,E\S9&9A83=C-&0Y-S@O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQAF4],T0Q/CQB M/CQI/E%U87)T97(@96YD960@36%R8V@F;F)S<#LS,2P\+VD^/"]B/CPO9F]N M=#X\+W`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`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@F4],T0R/B9N8G-P.SPO9F]N=#X\+W1D/@T*/'1D M('9A;&EG;CTS1&)O='1O;2!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$ M)V9O;G0M9F%M:6QY.B!4:6UEF4],T0R/B9N8G-P M.R9N8G-P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@6QE/3-$)V)O6QE/3-$)W1E>'0M:6YD M96YT.B`M,65M.R!M87)G:6XM;&5F=#H@,65M.R<^/&9O;G0@6QE/3-$)V9O;G0M9F%M M:6QY.B!4:6UE3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA"!S;VQI9#LG/B9N8G-P.SPO<#X\+W1D/@T* M/'1D('9A;&EG;CTS1&)O='1O;3X-"@T*/'`@3H@5&EM97,@3F5W(%)O;6%N.R<@8VQAF4],T0Q/B9N8G-P.R9N8G-P M.SPO9F]N=#X\+W1D/@T*/'1D('9A;&EG;CTS1&)O='1O;3X\9F]N="!S='EL M93TS1"=F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R<@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B!4 M:6UE3H@5&EM97,@3F5W(%)O;6%N M.R<@8VQA'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M2!;06)S=')A8W1=/"]S=')O;F<^/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&5X=#X\6QE/3-$)W1E>'0M:6YD96YT.B`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`^/"]T9#X-"CQT9#XF;F)S<#L\ M+W1D/CPO='(^/"]T86)L93X@/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S M9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO86)B M-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D.3'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y M7S0X.#%?834Q,E\S9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO86)B-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D.3'0O M:'1M;#L@8VAA2!#;VUM;VX@0VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$2!#;VUM;VX@0VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S M9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO86)B M-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D.3'0O:'1M;#L@8VAA2!#;VUM;VX@0VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q M,E\S9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M86)B-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D.3'0O:'1M;#L@8VAA M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ MF5D(&=A:6X@;VX@9&5R:79A=&EV92!I;G-T"!E>'!E M;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\F5D(&=A:6X@;VX@879A:6QA8FQE+69OF5D(&=A:6X@;VX@879A:6QA8FQE+69O3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q M,E\S9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M86)B-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D.3'0O:'1M;#L@8VAA M'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$#PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S7!E.B!T97AT+VAT M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@ M("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$ M)W1E>'0O:'1M;#L@8VAA'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA&-E<'0@4&5R(%-H87)E(&1A=&$L('5N;&5S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!#;VUP;VYE;G1S M(%M,:6YE($ET96US73PO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$&5R8VES960L('-H87)E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S M8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I M=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A&-E<'0@4VAA3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P M83,Y7S0X.#%?834Q,E\S9&9A83=C-&0Y-S@-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO86)B-F4T.31?,&$S.5\T.#@Q7V$U,3)?,V1F86$W8S1D M.3'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q,E\S9&9A83=C-&0Y-S@- M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO86)B-F4T.31?,&$S.5\T M.#@Q7V$U,3)?,V1F86$W8S1D.3'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!4'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^07!R:6P@,S`L(#(P,3(\'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA2!; M365M8F5R73QB'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$&EM=6T@8F]R'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2P@=&5R;3PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$&UL/@T*+2TM+2TM/5].97AT4&%R=%]A8F(V930Y-%\P83,Y7S0X.#%?834Q 2,E\S9&9A83=C-&0Y-S@M+0T* ` end XML 19 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6

Shareholders' Equity (Schedule Of Distributions To Noncontrolling Interest) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Noncontrolling Interest [Line Items]

Controlling interest, ownership percentage 60.00%

Noncontrolling interest, ownership percentage 40.00%

Net income attributable to noncontrolling interest $ 5,026 $ 3,622

Noncontrolling Interest [Member]

Noncontrolling Interest [Line Items]

Noncontrolling interest at December 31, 2011 198,920

Net income attributable to noncontrolling interest 5,026

Noncontrolling interest at March 31, 2012 $ 203,946

X

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a (1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (a)(1)

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

+ Details

Name: us-gaap_EquityMethodInvestmentOwnershipPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

Carrying amount of the equity interests owned by noncontrolling shareholders, partners, or other equity holders in joint ventures included in the entity's consolidated financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4568740-111683

+ Details

Name: us-gaap_MinorityInterestInJointVentures

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_MinorityInterestLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.

+ References

No definition available.

+ Details

Name: us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

+ Details

Name: us-gaap_NetIncomeLossAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 20 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6

Shareholders' Equity (Employee Stock Purchase Plan And 401(k) Plan) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Disclosure Equity Components [Line Items]

Non-cash contribution for 401(k) plan $ 1,772 $ 1,718

401(k) Plan [Member]

Disclosure Equity Components [Line Items]

Common stock issued to profit sharing retirement plan, shares 26,991 27,240

Non-cash contribution for 401(k) plan 1,772 1,718

Employee Stock Purchase Plan [Member]

Disclosure Equity Components [Line Items]

Common stock issued under employee stock purchase plan, shares 2,962 3,997

Common stock issued under employee stock purchase plan, net proceeds $ 194 $ 241

X

- Definition

Number of shares issued during the period to an employee benefit plan, such as a defined contribution or defined benefit plan.

+ References

No definition available.

+ Details

Name: us-gaap_StockIssuedDuringPeriodSharesEmployeeBenefitPlan

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of shares issued during the period as a result of an employee stock purchase plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Value of shares issued during the period to an employee benefit plan, such as a defined contribution or defined benefit plan.

+ References

No definition available.

+ Details

Name: us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate change in value for stock issued during the period as a result of employee stock purchase plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

+ Details

Name: us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: wso_DisclosureEquityComponentsLineItems

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 21 R30.htm IDEA: XBRL DOCUMENT v2.4.0.6

Commitments And Contingencies (Details) (USD $)
In Thousands, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Commitments And Contingencies [Abstract]

Self-insurance reserves $ 4,341 $ 4,631

X

- Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Carrying amount (including both current and noncurrent portions) of accrued known and estimated losses incurred as of the balance sheet date for which no insurance coverage exists, and for which a claim has been made or is probable of being asserted, typically arising from workmen's compensation-type of incidents and personal injury to nonemployees from accidents on the entity's property.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.24)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_SelfInsuranceReserve

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 22 R31.htm IDEA: XBRL DOCUMENT v2.4.0.6

Related Party Transactions (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Related Party Transactions [Abstract]

Percentage of total purchases from Carrier and its affiliates 52.00% 41.00%

Amount payable to Carrier Corporation and its affiliates, net of receivables $ 76,000 $ 41,000

Revenues from sales to Carrier Corporation and its affiliates 6,784 4,104

Transaction Service Agreements, termination date April 30, 2012

Fees related to Transactional Services Agreements with Carrier Corporation 584

Amount payable to Carrier related to TSA $ 361 $ 941

X

- Definition

Costs of sales and operating expenses for the period incurred from transactions with related parties.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2)

-SubTopic 10

-Topic 225

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_CostsAndExpensesRelatedParty

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Receivables to be collected from (obligations owed to) related parties, net as of the balance sheet date where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph k

-Subparagraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 2

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_RelatedPartyTransactionDueFromToRelatedParty

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Revenues, net of returns and allowances, realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 2

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

Name: us-gaap_RelatedPartyTransactionRevenuesFromTransactionsWithRelatedParty

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Costs And Expenses Payable To Related Party

+ References

No definition available.

+ Details

Name: wso_CostsAndExpensesPayableToRelatedParty

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Percentage of Total Purchases From Related Party

+ References

No definition available.

+ Details

Name: wso_PercentageOfTotalPurchasesFromRelatedParty

Namespace Prefix: wso_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition

Termination period of related party transaction agreement.

+ References

No definition available.

+ Details

Name: wso_TerminationPeriodOfRelatedPartyTransactionAgreement

Namespace Prefix: wso_

Data Type: invest:dateStringItemType

Balance Type: na

Period Type: duration

XML 23 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6

Earnings Per Share
3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

2. EARNINGS PER SHARE

The following table presents the calculation of basic and diluted earnings per common share for our Common and Class B common stock:

Quarters Ended March 31,
2012 2011

Basic Earnings per Share:

Net income attributable to Watsco, Inc. shareholders
$ 8,466 $ 7,500

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock
1,408 1,152

Earnings allocated to Watsco, Inc. shareholders
$ 7,058 $ 6,348

Weighted-average Common and Class B common shares outstanding for basic earnings per share
30,756,626 30,601,573

Basic earnings per share for Common and Class B common stock
$ 0.23 $ 0.21

Allocation of earnings for Basic:

Common stock
$ 6,405 $ 5,755

Class B common stock
653 593

$ 7,058 $ 6,348

Diluted Earnings per Share:

Net income attributable to Watsco, Inc. shareholders
$ 8,466 $ 7,500

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock
1,408 1,152

Earnings allocated to Watsco, Inc. shareholders
$ 7,058 $ 6,348

Weighted-average Common and Class B common shares outstanding for basic earnings per share
30,756,626 30,601,573

Effect of dilutive stock options
77,842 92,779

Weighted-average Common and Class B common shares outstanding for diluted earnings per share
30,834,468 30,694,352

Diluted earnings per share for Common and Class B common stock
$ 0.23 $ 0.21

Diluted earnings per share for our Common stock assumes the conversion of all of our Class B common stock into Common stock as of the beginning of the fiscal year and adjusts for the dilutive effects of outstanding stock options using the treasury stock method; therefore, no allocation of earnings to Class B common stock is required. As of March 31, 2012 and 2011, our outstanding Class B common stock was convertible into 2,846,334 and 2,858,442 shares of our Common stock, respectively.

Diluted earnings per share excluded 7,628 shares for the quarter ended March 31, 2011 related to stock options with an exercise price per share greater than the average market value, resulting in an anti-dilutive effect on diluted earnings per share. No shares were excluded from diluted earnings per share for the quarter ended March 31, 2012 related to stock options.

X

- Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_EarningsPerShareTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 24 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6

Subsequent Events (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
0 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended 3 Months Ended

Apr. 27, 2012

Mar. 31, 2012

Apr. 27, 2012

UTC Canada [Member]

Apr. 27, 2012

Carrier Enterprise III [Member]

Mar. 31, 2012

Minimum [Member]

Mar. 31, 2012

Maximum [Member]

Apr. 27, 2011

Swingline Subfacility [Member]

Apr. 27, 2011

Letter Of Credit Subfacility [Member]

Apr. 27, 2012

New Revolving Credit Facility [Member]

Y

Mar. 31, 2012

New Revolving Credit Facility [Member]

Mar. 31, 2012

Previous Revolving Credit Facility [Member]

Y

Mar. 31, 2012

Previous Carrier Enterprise I Secured Revolving Credit Agreement [Member]

Y

Apr. 27, 2012

Scenario 1 [Member]

Mar. 31, 2012

Scenario 1 [Member]

Minimum [Member]

Mar. 31, 2012

Scenario 1 [Member]

Maximum [Member]

Apr. 27, 2012

Scenario 2 [Member]

Mar. 31, 2012

Scenario 2 [Member]

Minimum [Member]

Mar. 31, 2012

Scenario 2 [Member]

Maximum [Member]

Subsequent Event [Line Items]

Number of locations contributed to joint venture by controlling interest 35

Controlling interest, ownership percentage 60.00% 60.00%

Noncontrolling interest in Carrier Enterprise III 40.00% 40.00%

Fair value of shares issued to UTC Canada Corporation $ 93,250

Cash consideration 82,042

Shares issued to UTC Canada Corporation, an affiliate of Carrier Corporation 1,250,000

Revolving credit agreement maximum borrowing capacity 50,000 50,000 500,000 300,000 125,000

Credit facility, term 5 5 3

Multicurrency borrowing sublimit 75,000

Basis spread 1.125% 1.00% 2.75% 0.125% 0.00% 1.75%

Line of credit facility repayments $ 154,000

Commitment fee percentage on unused portion of the commitment 0.15% 0.125% 0.40%

Revolving credit agreement maturity date April 2017

X

- Definition

Amount of cash paid to acquire the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-Subparagraph f(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The percentage points added to the reference rate to compute the variable rate on the debt instrument.

+ References

No definition available.

+ Details

Name: us-gaap_DebtInstrumentBasisSpreadOnVariableRate

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a (1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (a)(1)

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

+ Details

Name: us-gaap_EquityMethodInvestmentOwnershipPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used.

+ References

No definition available.

+ Details

Name: us-gaap_LineOfCreditFacilityCommitmentFeePercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition

Decrease for amounts repaid on the credit facility for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph f

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(f))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_LineOfCreditFacilityDecreaseRepayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Reflects when the credit facility terminates, which may be presented in a variety of ways (year, month and year, day, month and year, quarter).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 22

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityExpirationDate

Namespace Prefix: us-gaap_

Data Type: us-types:dateStringItemType

Balance Type: na

Period Type: duration

X

- Definition

Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 22

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.

+ References

No definition available.

+ Details

Name: us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Details

Name: us-gaap_SubsequentEventLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Fair value of shares issued to party of joint venture

+ References

No definition available.

+ Details

Name: wso_FairValueOfSharesIssuedToPartyOfJointVenture

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Line Of Credit Facility Multicurrency Borrowing Sublimit

+ References

No definition available.

+ Details

Name: wso_LineOfCreditFacilityMulticurrencyBorrowingSublimit

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Line Of Credit Facility Term

+ References

No definition available.

+ Details

Name: wso_LineOfCreditFacilityTerm

Namespace Prefix: wso_

Data Type: xbrli:positiveIntegerItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of Locations Contributed To Joint Venture by Noncontrolling Interest

+ References

No definition available.

+ Details

Name: wso_NumberOfLocationsContributedToJointVentureByNoncontrollingInterest

Namespace Prefix: wso_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: instant

X

- Definition

Shares Issued To Affiliate Of Party In Joint Venture

+ References

No definition available.

+ Details

Name: wso_SharesIssuedToAffiliateOfPartyInJointVenture

Namespace Prefix: wso_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

XML 25 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6

Condensed Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Condensed Consolidated Statements Of Income [Abstract]

Revenues $ 633,512 $ 534,339

Cost of sales 482,890 399,353

Gross profit 150,622 134,986

Selling, general and administrative expenses 130,713 118,276

Operating income 19,909 16,710

Interest expense, net 888 822

Income before income taxes 19,021 15,888

Income taxes 5,529 4,766

Net income 13,492 11,122

Less: net income attributable to noncontrolling interest 5,026 3,622

Net income attributable to Watsco, Inc. $ 8,466 $ 7,500

Earnings per share for Common and Class B common stock:

Basic $ 0.23 $ 0.21

Diluted $ 0.23 $ 0.21

X

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 2

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(a),(d))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_CostOfGoodsAndServicesSold

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.23)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 36, 37, 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

+ Details

Name: us-gaap_EarningsPerShareBasic

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 11, 12, 36

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_EarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1,2)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GrossProfit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph h

-Subparagraph 1(i)

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h)(1)(i))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_IncomeStatementAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 45

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 34

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 9

-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Chapter V

-Section 563c.102

-Paragraph 9

-Subsection II

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

+ Details

Name: us-gaap_NetIncomeLossAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

No definition available.

+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-Subparagraph (a),(c)

-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569616-111683

+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 4

-Paragraph 5A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 30

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6386349&loc=d3e3636-108311

+ Details

Name: us-gaap_SellingGeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 26 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6

Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Cash flows from operating activities:

Net income $ 13,492 $ 11,122

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Depreciation and amortization 3,081 2,617

Share-based compensation 2,162 1,497

Non-cash contribution for 401(k) plan 1,772 1,718

Provision for doubtful accounts 520 915

Excess tax benefits from share-based compensation (148) (725)

Other, net 424 601

Changes in operating assets and liabilities:

Accounts receivable (12,234) 21,213

Inventories (67,083) (110,907)

Accounts payable and other liabilities 68,067 28,922

Other, net (600) (1,899)

Net cash provided by (used in) operating activities 9,453 (44,926)

Cash flows from investing activities:

Capital expenditures (3,883) (1,692)

Proceeds from sale of property and equipment 71 57

Net cash used in investing activities (3,812) (1,635)

Cash flows from financing activities:

Dividends on Common and Class B common stock (20,470) (16,938)

Distributions to noncontrolling interest (6,630) (12,926)

Return of capital contribution to noncontrolling interest (32,000)

Net proceeds from (repayments of) long-term obligations 14 (11)

Excess tax benefits from share-based compensation 148 725

Net proceeds from issuances of common stock 1,181 2,648

Net borrowings under revolving credit agreements 22,500 14,100

Net cash used in financing activities (3,257) (44,402)

Net increase (decrease) in cash and cash equivalents 2,384 (90,963)

Cash and cash equivalents at beginning of period 15,673 126,498

Cash and cash equivalents at end of period $ 18,057 $ 35,535

X

- Details

Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_DepreciationDepletionAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 00-15

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 20

-Section 55

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6576910&loc=d3e11374-113907

+ Details

Name: us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Reductions in the entity's income taxes that arise when compensation cost (from non-qualified equity-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element reduces net cash provided by operating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A96

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 20

-Section 55

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6576910&loc=d3e11374-113907

+ Details

Name: us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInInventories

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow from financing activity for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash inflow or outflow from investing activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_OtherNoncashIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 20

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_PaymentsOfDividendsCommonStock

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 13

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 17

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_PaymentsToAcquirePropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow to return capital to noncontrolled interest, which generally occurs when noncontrolling shareholders reduce their ownership stake (in a subsidiary of the entity). This element does not include dividends paid to noncontrolling shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 20

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_PaymentsToMinorityShareholders

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash inflow from the additional capital contribution to the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 19

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_ProceedsFromIssuanceOfCommonStock

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Name Accounting Standards Codification

-Publisher FASB

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 9

-Subparagraph c

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3098-108585

+ Details

Name: us-gaap_ProceedsFromRepaymentsOfLinesOfCredit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 12

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 16

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-Subparagraph (a),(c)

-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569616-111683

+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.5)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_ProvisionForDoubtfulAccounts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash outflow attributable to repayments of borrowings not otherwise defined in the taxonomy (with maturities initially due after one year or beyond the operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 15

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 20

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_RepaymentsOfOtherLongTermDebt

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Value of shares issued during the period to an employee benefit plan, such as a defined contribution or defined benefit plan.

+ References

No definition available.

+ Details

Name: us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Cash Distributions to Noncontrolling Interest

+ References

No definition available.

+ Details

Name: wso_CashDistributionsToNoncontrollingInterest

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 27 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6

Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Net income attributable to Watsco, Inc. shareholders $ 8,466 $ 7,500

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - basic 1,408 1,152

Earnings allocated to Watsco, Inc. shareholders - basic 7,058 6,348

Weighted-average Common and Class B common shares outstanding for basic earnings per share 30,756,626 30,601,573

Basic earnings per share for Common and Class B common stock $ 0.23 $ 0.21

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - diluted 1,408 1,152

Earnings allocated to Watsco, Inc. shareholders - diluted 7,058 6,348

Effect of dilutive stock options 77,842 92,779

Weighted-average Common and Class B common shares outstanding for diluted earnings per share 30,834,468 30,694,352

Diluted earnings per share for Common and Class B common stock $ 0.23 $ 0.21

Common Stock [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Earnings allocated to Watsco, Inc. shareholders - basic 6,405 5,755

Class B Common Stock [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Earnings allocated to Watsco, Inc. shareholders - basic $ 653 $ 593

X

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.23)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 36, 37, 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

+ Details

Name: us-gaap_EarningsPerShareBasic

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareBasicLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 11, 12, 36

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.21)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 20

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 7

-Paragraph 18

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 21

-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_EarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1377-109256

+ Details

Name: us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1505-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1377-109256

+ Details

Name: us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate of earnings distributed and earnings allocated to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed.

+ References

No definition available.

+ Details

Name: us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarnings

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1505-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name: us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Weighted-Average Number of Common Shares Outstanding

-URI http://asc.fasb.org/extlink&oid=6528421

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_WeightedAverageNumberOfSharesOutstandingBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Participating Securities, Distributed and Undistributed Earnings, After Dilution

+ References

No definition available.

+ Details

Name: wso_ParticipatingSecuritiesDistributedAndUndistributedEarningsAfterDilution

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 28 R24.htm IDEA: XBRL DOCUMENT v2.4.0.6

Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Other Comprehensive Income [Abstract]

Beginning balance, Derivative instrument $ 238

Current period other comprehensive income 71

Ending balance, Derivative instrument 167

Beginning balance, Available-for-sale securities 352 355

Current period other comprehensive income 16 7

Ending balance, Available-for-sale securities 336 348

Accumulated other comprehensive loss, net of tax $ 336 $ 352

X

- Definition

Accumulated appreciation or loss, net of tax, in value of the total of available-for-sale securities at the end of an accounting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6887037&loc=d3e80784-113994

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14, 17, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The change in unrealized holding gain (loss), net of tax, on available-for-sale securities included in a separate component of shareholders' equity during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 21

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

+ Details

Name: us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 17, 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 121

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: wso_OtherComprehensiveIncomeAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 29 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "
"+ text.join( "

\n" ) +"
"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "
" + text[p] + "
\n"; } } }else{ formatted = '
' + raw + '
'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+'
'+formatted+'
'+ "\n"+'
'+ "\n"+'
'+raw+'
'+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 30 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6

Basis Of Presentation
3 Months Ended

Mar. 31, 2012

Basis Of Presentation [Abstract]

Basis Of Presentation

1. BASIS OF PRESENTATION

Basis of Consolidation

Watsco, Inc. and its subsidiaries (collectively, "Watsco," which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies ("HVAC/R") in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K.

The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation ("Carrier"), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated.

The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions.

Reclassifications

Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported.

Use of Estimates

The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.

Accounting Changes

Presentation of Comprehensive Income

In June 2011, the Financial Accounting Standards Board issued guidance that required companies to present net income and other comprehensive income in one continuous statement or in two separate but consecutive statements. We added new primary consolidated statements of other comprehensive income which immediately follow our condensed consolidated unaudited statements of income to our condensed consolidated unaudited financial statements.

X

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 720

-SubTopic 15

-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6921930&loc=d3e5614-111684

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6970148&loc=SL6228881-111685

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Name Statement of Position (SOP)

-Publisher AICPA

-Number 94-6

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 272

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS140-4/FIN46(R)-8

-Paragraph 8, C1, C7

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Name FASB Interpretation (FIN)

-Publisher FASB

-Number 46R

-Paragraph 4, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 852

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 2-6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 915

-SubTopic 235

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6359553&loc=d3e288-107754

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2197480

+ Details

Name: us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: wso_BasisOfPresentationAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 31 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6

Condensed Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Condensed Consolidated Statements Of Comprehensive Income [Abstract]

Net income $ 13,492 $ 11,122

Unrealized gain on derivative instrument arising during the period 71

Unrealized gain on available-for-sale securities arising during the period 16 7

Other comprehensive income 16 78

Comprehensive income 13,508 11,200

Less: comprehensive income attributable to noncontrolling interest 5,026 3,622

Comprehensive income attributable to Watsco, Inc. $ 8,482 $ 7,578

X

- Definition

The change in unrealized holding gain (loss), net of tax, on available-for-sale securities included in a separate component of shareholders' equity during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 21

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

+ Details

Name: us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A5

-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 8, 9, 10, 11, 12, 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6508144

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_ComprehensiveIncomeNetOfTaxAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4613674-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A5

-Appendix A

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 20

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569643-111683

+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569616-111683

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A5

-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 22, 23, 24, 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e599-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 17, 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 121

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-Subparagraph (a),(c)

-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569616-111683

+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 32 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6

Other Comprehensive Income (Tables)
3 Months Ended

Mar. 31, 2012

Other Comprehensive Income [Abstract]

Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income

Quarters Ended March 31,
 2012 2011

Unrealized gain on derivative instrument
 $ — $ 115

Income tax expense
 — 44





Unrealized gain on derivative instrument, net of tax
 — 71





Unrealized gain on available-for-sale securities
 25 11

Income tax expense
 9 4





Unrealized gain on available-for-sale securities, net of tax
 16 7





Other comprehensive income
 $ 16 $ 78





Schedule Of Accumulated Other Comprehensive Loss

Quarters Ended March 31,
 2012 2011

Derivative instrument:


Beginning balance
 $ — $ 238

Current period other comprehensive income
 — 71





Ending balance
 — 167





Available-for-sale securities:


Beginning balance
 352 355

Current period other comprehensive income
 16 7





Ending balance
 336 348





Accumulated other comprehensive loss, net of tax
 $ 336 $ 515





X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

No definition available.

+ Details

Name: us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition

Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 220

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 1

-Section 45

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e526-108580

+ Details

Name: us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: wso_OtherComprehensiveIncomeAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 33 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6

Document And Entity Information
3 Months Ended

Mar. 31, 2012

May 04, 2012

Common Stock [Member]

May 04, 2012

Class B Common Stock [Member]

Document Type 10-Q

Amendment Flag false

Document Period End Date Mar. 31, 2012

Document Fiscal Year Focus 2012

Document Fiscal Period Focus Q1

Trading Symbol WSO

Entity Filer Category Large Accelerated Filer

Entity Registrant Name WATSCO INC

Entity Central Index Key 0000105016

Current Fiscal Year End Date --12-31

Entity Common Stock, Shares Outstanding 29,682,083 4,709,432

X

- Definition

If the value is true, then the document as an amendment to previously-filed/accepted document.

+ References

No definition available.

+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition

End date of current fiscal year in the format --MM-DD.

+ References

No definition available.

+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ References

No definition available.

+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other.

+ References

No definition available.

+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument

+ References

No definition available.

+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ References

No definition available.

+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name: dei_TradingSymbol

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

XML 34 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6

Acquisitions (Tables)
3 Months Ended

Mar. 31, 2012

Acquisitions [Abstract]

Schedule Of Unaudited Pro Forma Financial Information From Joint Venture

Quarter ended March 31,
 2011

Revenues
 $ 587,847

Net income
 10,656

Less: net income attributable to noncontrolling interest
 3,662



Net income attributable to Watsco, Inc.
 $ 6,994



Diluted earnings per share for Common and Class B common stock
 $ 0.19

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 54

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 55

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-Subparagraph r(2, 3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_BusinessAcquisitionProFormaInformationTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 35 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6

Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Current assets:

Cash and cash equivalents $ 18,057 $ 15,673

Accounts receivable, net 339,378 327,664

Inventories 532,432 465,349

Other current assets 21,095 19,491

Total current assets 910,962 828,177

Property and equipment, net 40,727 39,455

Goodwill 319,440 319,440

Intangible assets, net 74,753 75,366

Other assets 4,731 5,710

Total assets 1,350,613 1,268,148

Current liabilities:

Current portion of long-term obligations 16 19

Borrowings under revolving credit agreements 42,500 20,000

Accounts payable 182,462 127,359

Accrued expenses and other current liabilities 82,361 75,661

Total current liabilities 307,339 223,039

Deferred income taxes and other liabilities 43,315 43,399

Commitments and contingencies

Watsco, Inc. shareholders' equity:

Preferred stock, $0.50 par value

Paid-in capital 498,675 493,519

Accumulated other comprehensive loss, net of tax (336) (352)

Retained earnings 392,356 404,360

Treasury stock, at cost (114,425) (114,425)

Total Watsco, Inc. shareholders' equity 796,013 802,790

Noncontrolling interest 203,946 198,920

Total shareholders' equity 999,959 1,001,710

Total liabilities and shareholders' equity 1,350,613 1,268,148

Common Stock [Member]

Watsco, Inc. shareholders' equity:

Common stock, $0.50 par value 17,364 17,338

Class B Common Stock [Member]

Watsco, Inc. shareholders' equity:

Common stock, $0.50 par value $ 2,379 $ 2,350

X

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Subparagraph a

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Subparagraph a(1)

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3-4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsReceivableNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccruedLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14, 17, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.30(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AdditionalPaidInCapital

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 12

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Topic 210

-SubTopic 10

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

-Section S99

-Name Accounting Standards Codification

-Publisher FASB

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Concepts (CON)

-Number 6

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 18

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.18)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6801-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Section 45

-SubTopic 10

-Topic 210

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

-Publisher FASB

-Name Accounting Standards Codification

-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 9

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.9)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_AssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_AssetsCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.17)

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 17

-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 19

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 25

-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.(a),19)

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommitmentsAndContingencies

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax and the aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).

+ References

No definition available.

+ Details

Name: us-gaap_DeferredTaxAndOtherLiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 45

-Subparagraph e

-Clause 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 43

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-Subparagraph l

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 45

-Subparagraph e

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 34

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6905597&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 20

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 72

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_Goodwill

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 42, 45

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 2

-Subparagraph ((a)(1),(b))

-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16212-109274

+ Details

Name: us-gaap_IntangibleAssetsNetExcludingGoodwill

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

+ Details

Name: us-gaap_InventoryNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 32

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.32)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 25

+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 21

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.21)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_LiabilitiesCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Line-of-Credit Arrangement

-URI http://asc.fasb.org/extlink&oid=6517033

+ Details

Name: us-gaap_LinesOfCreditCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 27

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 20

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Name Accounting Research Bulletin (ARB)

-Publisher AICPA

-Number 51

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_MinorityInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 8

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.8)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherAssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 17

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherAssetsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of the portion of long-term debt not otherwise specified in the taxonomy that is scheduled to be repaid within one year or the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherLongTermDebtCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 7

-Section 03

-Paragraph 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 12

-Paragraph 5

-Subparagraph b, c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31(a)(3))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4568740-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4I

-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4590271-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Name Accounting Research Bulletin (ARB)

-Publisher AICPA

-Number 51

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4568447-111683

+ Details

Name: us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Technical Bulletin (FTB)

-Number 85-6

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656

+ Details

Name: us-gaap_TreasuryStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 36 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

Commitments And Contingencies
3 Months Ended

Mar. 31, 2012

Commitments And Contingencies [Abstract]

Commitments And Contingencies

6. COMMITMENTS AND CONTINGENCIES

Litigation, Claims and Assessments

We are involved in litigation incidental to the operation of our business. We vigorously defend all matters in which we or our subsidiaries are named defendants and, for insurable losses, maintain significant levels of insurance to protect against adverse judgments, claims or assessments that may affect us. Although the adequacy of existing insurance coverage or the outcome of any legal proceedings cannot be predicted with certainty, based on the current information available, we do not believe the ultimate liability associated with any known claims or litigation will have a material adverse affect on our financial condition or results of operations.

Self-Insurance

Self-insurance reserves are maintained relative to company-wide casualty insurance and health benefit programs. The level of exposure from catastrophic events is limited by the purchase of stop-loss and aggregate liability reinsurance coverage. When estimating the self-insurance liabilities and related reserves, management considers a number of factors, which include historical claims experience, demographic factors, severity factors and valuations provided by independent third-party actuaries. Management reviews its assumptions with its independent third-party actuaries to evaluate whether the self-insurance reserves are adequate. If actual claims or adverse development of loss reserves occur and exceed these estimates, additional reserves may be required. The estimation process contains uncertainty since management must use judgment to estimate the ultimate cost that will be incurred to settle reported claims and unreported claims for incidents incurred but not reported as of the balance sheet date. Reserves in the amounts of $4,341 and $4,631 at March 31, 2012 and December 31, 2011, respectively, were established related to such insurance programs and are included in accrued expenses and other current liabilities in our condensed consolidated balance sheets.

X

- Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 37 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6

Shareholders' Equity
3 Months Ended

Mar. 31, 2012

Shareholders' Equity [Abstract]

Shareholders' Equity

5. SHAREHOLDERS' EQUITY

Common Stock Dividends

Cash dividends of $0.62 and $0.52 per share of Common and Class B common stock were paid during the quarters ended March 31, 2012 and 2011, respectively.

Non-Vested (Restricted) Stock

During the quarters ended March 31, 2012 and 2011, we granted 58,301 and 391,852 shares of non-vested (restricted) stock, respectively.

Stock Options

During the quarters ended March 31, 2012 and 2011, 21,500 and 65,800, respectively, of stock options were exercised for Common stock. Cash received from Common stock issued upon the exercise of stock options during the quarters ended March 31, 2012 and 2011, was $987 and $2,407, respectively.

Employee Stock Purchase Plan

During the quarters ended March 31, 2012 and 2011, 2,962 and 3,997 shares of Common stock were issued under our employee stock purchase plan, respectively, for which we received net proceeds of $194 and $241, respectively.

401(k) Plan

During the quarters ended March 31, 2012 and 2011, 26,991 and 27,240 shares of Common stock were issued to our profit sharing retirement plan, respectively, representing discretionary matching contribution of $1,772 and $1,718, respectively.

Noncontrolling Interest

We have a 60% controlling interest in both Carrier Enterprise I and Carrier Enterprise II, and Carrier has a 40% noncontrolling interest. The following table reconciles shareholders' equity attributable to the noncontrolling interest:

Noncontrolling interest at December 31, 2011
 $ 198,920

Net income attributable to noncontrolling interest
 5,026



Noncontrolling interest at March 31, 2012
 $ 203,946



X

- Details

Name: us-gaap_StockholdersEquityNoteAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Article 4

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph d

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 1

-Section B

-Paragraph 7, 11A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 20: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 21: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 23: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

Name: us-gaap_StockholdersEquityNoteDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 38 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6

Other Comprehensive Income (Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Other Comprehensive Income [Abstract]

Unrealized gain on derivative instrument $ 115

Income tax expense 44

Unrealized gain on derivative instrument, net of tax 71

Unrealized gain on available-for-sale securities 25 11

Income tax expense 9 4

Unrealized gain on available-for-sale securities, net of tax 16 7

Other comprehensive income $ 16 $ 78

X

- Definition

The change in unrealized holding gain (loss), net of tax, on available-for-sale securities included in a separate component of shareholders' equity during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 21

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

+ Details

Name: us-gaap_AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 22, 23, 24, 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e599-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

Pre tax change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 17, 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 17, 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 121

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Tax effect on the change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Gross appreciation or the gross loss in value of the total of unsold available-for-sale securities during the period being reported (except when designated as a fair value hedge).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 55

-Paragraph 2

-Subparagraph (e)

-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 17

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Tax effect on gross appreciation or the gross loss in value of the total of unsold securities during the period being reported on.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: wso_OtherComprehensiveIncomeAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 39 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6

Shareholders' Equity (Tables)
3 Months Ended

Mar. 31, 2012

Shareholders' Equity [Abstract]

Schedule Of Distributions To Noncontrolling Interest

Noncontrolling interest at December 31, 2011
 $ 198,920

Net income attributable to noncontrolling interest
 5,026



Noncontrolling interest at March 31, 2012
 $ 203,946



X

- Details

Name: us-gaap_StockholdersEquityNoteAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Schedule Of Shareholders Equity Attributable To Noncontrolling Interest [Table Text Block]

+ References

No definition available.

+ Details

Name: wso_ScheduleOfShareholdersEquityAttributableToNoncontrollingInterestTableTextBlock

Namespace Prefix: wso_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 40 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6

Basis Of Presentation (Policy)
3 Months Ended

Mar. 31, 2012

Basis Of Presentation [Abstract]

Basis Of Consolidation

Basis of Consolidation

Watsco, Inc. and its subsidiaries (collectively, "Watsco," which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies ("HVAC/R") in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K.

The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation ("Carrier"), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated.

The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions.

Reclassifications

Reclassifications

Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported.

Use Of Estimates

Use of Estimates

The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.

X

- Definition

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 2-6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 3A

-Section 02, 03

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a(2)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 97-2

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 96-16

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 4

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 4

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.3A-02)

-URI http://asc.fasb.org/extlink&oid=6959686&loc=d3e355033-122828

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph k

-Article 1

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 325

-SubTopic 20

-URI http://asc.fasb.org/subtopic&trid=2197087

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 860

-SubTopic 40

-Section 45

-URI http://asc.fasb.org/section&trid=2197723

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2196966

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 5, 6, 16-19

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 140

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6382870&loc=d3e33801-111570

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6921930&loc=d3e5614-111684

+ Details

Name: us-gaap_ConsolidationPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6061-108592

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 94-6

-Paragraph 11, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6143-108592

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6132-108592

+ Details

Name: us-gaap_UseOfEstimates

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: wso_BasisOfPresentationAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Prior Period Reclassification Adjustment [Policy Text Block]

+ References

No definition available.

+ Details

Name: wso_PriorPeriodReclassificationAdjustmentPolicyTextBlcok

Namespace Prefix: wso_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 41 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6

Related Party Transactions
3 Months Ended

Mar. 31, 2012

Related Party Transactions [Abstract]

Related Party Transactions

7. RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 52% and 41% of all purchases made during the quarters ended March 31, 2012 and 2011, respectively. At March 31, 2012 and December 31, 2011, approximately $76,000 and $41,000, respectively, was payable to Carrier and its affiliates, net of receivables. Our joint ventures with Carrier also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters ended March 31, 2012 and 2011 include $6,784 and $4,104, respectively, of sales to Carrier and its affiliates. We believe these transactions are conducted at arm's-length in the ordinary course of business.

Carrier Enterprise II entered into Transactional Services Agreements ("TSAs") with Carrier, pursuant to which Carrier performs certain business processes on its behalf, including processes involving the use of certain information technologies. The services provided by Carrier pursuant to the TSAs terminate on various dates through April 30, 2012 but may be extended as agreed upon by the parties. The fees related to these TSAs were $584 for the quarter ended March 31, 2012 and are included in selling, general and administrative expenses in our condensed consolidated unaudited statement of income. At March 31, 2012 and December 31, 2011, $361 and $941, respectively, related to theses TSAs was payable to Carrier and is included in accrued expenses and other current liabilities in our condensed consolidated unaudited balance sheets.

X

- Details

Name: us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 3A

-Section 04

-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 1-4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph k

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

+ Details

Name: us-gaap_RelatedPartyTransactionsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 42 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6

Subsequent Events
3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

8. SUBSEQUENT EVENTS

On April 27, 2012, we completed the formation of a joint venture with UTC Canada Corporation ("UTC Canada"), an affiliate of Carrier, to distribute Carrier, Bryant and Payne branded residential, light-commercial and commercial applied HVAC products in Canada. The newly formed joint venture, Carrier Enterprise Canada, L.P. ("Carrier Enterprise III"), operates 35 locations throughout all of the provinces and territories in Canada. In the formation of the joint venture, UTC Canada contributed its Canadian distribution business and retained a 40% noncontrolling interest in Carrier Enterprise III. Total consideration paid by us for our 60% controlling interest in Carrier Enterprise III included cash consideration of $82,042 and the issuance to UTC Canada of 1,250,000 shares of Common stock having a fair value of $93,250. The final purchase price is subject to working capital adjustments pursuant to the Asset Purchase Agreement that we entered into with UTC Canada.

Also on April 27, 2012, we entered into an unsecured, five-year $500,000 syndicated revolving credit agreement, which replaced in its entirety both our five-year $300,000 revolving credit agreement maturing on August 3, 2012 and Carrier Enterprise I's three-year $125,000 secured revolving credit agreement maturing on July 1, 2012. Proceeds from the new facility were used to pay approximately $154,000 owed under our facilities and for the acquisition of Carrier Enterprise III and may be used for, among other things, funding seasonal working capital needs and other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. Included in the facility are a $50,000 swingline subfacility, a $50,000 letter of credit subfacility and a $75,000 multicurrency borrowing sublimit. Borrowings bear interest at either LIBOR-based rates plus a spread which ranges from 100 to 275 basis-points (LIBOR plus 112.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA, or on rates based on the higher of the Prime rate or the Federal Funds rate, in each case plus a spread which ranges from 0 to 175 basis-points (12.5 basis-points at April 27, 2012), depending upon our ratio of total debt to EBITDA. We pay a variable commitment fee on the unused portion of the commitment, ranging from 12.5 to 40 basis-points (15 basis-points at April 27, 2012). The credit agreement matures in April 2017. The revolving credit agreement contains customary affirmative and negative covenants including financial covenants with respect to consolidated leverage and interest coverage ratios and other customary restrictions.

X

- Details

Name: us-gaap_SubsequentEventsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

No definition available.

+ Details

Name: us-gaap_SubsequentEventsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 43 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6

Earnings Per Share (Tables)
3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Schedule Of Basic And Diluted Earnings Per Common Share

Quarters Ended March 31,
2012 2011

Basic Earnings per Share:

Net income attributable to Watsco, Inc. shareholders
$ 8,466 $ 7,500

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock
1,408 1,152

Earnings allocated to Watsco, Inc. shareholders
$ 7,058 $ 6,348

Weighted-average Common and Class B common shares outstanding for basic earnings per share
30,756,626 30,601,573

Basic earnings per share for Common and Class B common stock
$ 0.23 $ 0.21

Allocation of earnings for Basic:

Common stock
$ 6,405 $ 5,755

Class B common stock
653 593

$ 7,058 $ 6,348

Diluted Earnings per Share:

Net income attributable to Watsco, Inc. shareholders
$ 8,466 $ 7,500

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock
1,408 1,152

Earnings allocated to Watsco, Inc. shareholders
$ 7,058 $ 6,348

Weighted-average Common and Class B common shares outstanding for basic earnings per share
30,756,626 30,601,573

Effect of dilutive stock options
77,842 92,779

Weighted-average Common and Class B common shares outstanding for diluted earnings per share
30,834,468 30,694,352

Diluted earnings per share for Common and Class B common stock
$ 0.23 $ 0.21

X

- Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations.

+ References

No definition available.

+ Details

Name: us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 44 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6

Earnings Per Share (Narrative) (Details)
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Anti-dilutive stock options not included in computation of diluted earnings per share 0 7,628

Class B Common Stock [Member]

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Convertible Class B common stock outstanding 2,846,334 2,858,442

X

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Antidilution

-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Diluted Earnings Per Share

-URI http://asc.fasb.org/extlink&oid=6510752

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Contingent Stock Agreement

-URI http://asc.fasb.org/extlink&oid=6508534

+ Details

Name: us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareDilutedLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Convertible class B common stock outstanding

+ References

No definition available.

+ Details

Name: wso_ConvertibleClassBCommonStockOutstanding

Namespace Prefix: wso_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 45 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6

Acquisitions (Schedule Of Unaudited Pro Forma Financial Information From Joint Venture) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2011

Acquisitions [Abstract]

Revenues $ 587,847

Net income 10,656

Less: net income attributable to noncontrolling interest 3,662

Net income attributable to Watsco, Inc. $ 6,994

Diluted earnings per share for Common and Class B common stock $ 0.19

X

- Definition

The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 54

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 55

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-Subparagraph r(2, 3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

+ Details

Name: us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (h)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

+ Details

Name: us-gaap_BusinessAcquisitionsProFormaRevenue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Business Acquisitions Pro Forma Profit Loss

+ References

No definition available.

+ Details

Name: wso_BusinessAcquisitionsProFormaProftLoss

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Pro Forma Net Income Loss Attributable To Noncontrolling Interest

+ References

No definition available.

+ Details

Name: wso_ProFormaNetIncomeLossAttributableToNoncontrollingInterest

Namespace Prefix: wso_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 46 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)

Mar. 31, 2012

Dec. 31, 2011

Preferred stock, par value $ 0.50 $ 0.50

Common Stock [Member]

Common stock, par value $ 0.50 $ 0.50

Class B Common Stock [Member]

Common stock, par value $ 0.50 $ 0.50

X

- Definition

Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PreferredStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

XML 47 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

Acquisitions
3 Months Ended

Mar. 31, 2012

Acquisitions [Abstract]

Acquisitions

4. ACQUISITIONS

In 2011, we formed a second joint venture with Carrier that comprises the combination of two transactions. On April 29, 2011, Carrier contributed 28 of its company-owned locations in eight Northeast U.S states, and we contributed 14 locations in the Northeast U.S. On July 29, 2011, we purchased Carrier's distribution operations in Mexico, which included seven locations. We refer to the foregoing Northeast locations and the Mexico operations together as Carrier Enterprise II. We have a 60% controlling interest in Carrier Enterprise II, and Carrier has a 40% noncontrolling interest.

The unaudited pro forma financial information, combining our results of operations with the operations of Carrier Enterprise II as if the joint venture had been consummated on January 1, 2011, is as follows:

Quarter ended March 31,
 2011

Revenues
 $ 587,847

Net income
 10,656

Less: net income attributable to noncontrolling interest
 3,662



Net income attributable to Watsco, Inc.
 $ 6,994



Diluted earnings per share for Common and Class B common stock
 $ 0.19

This unaudited pro forma financial information is presented for informational purposes only. The unaudited pro forma financial information from the beginning of the period presented until the respective acquisition dates of the above-described Northeast U.S. and Mexican operations includes adjustments to record income taxes related to our portion of Carrier Enterprise II's income and amortization related to identified intangible assets with finite lives. This unaudited pro forma financial information does not include adjustments to add or remove certain corporate expenses of Carrier Enterprise II, which may not be incurred in future periods, or adjustments for depreciation or synergies that may be realized subsequent to the acquisition dates. This unaudited pro forma financial information may not necessarily reflect our future results of operations or what the results of operations would have been had we acquired our 60% controlling interest in and operated Carrier Enterprise II as of the beginning of the period presented.

X

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51, 52

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1500-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e7000-128479

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e6927-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e7008-128479

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1490-128463

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e6996-128479

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Appendix F

-Paragraph F4

-Subparagraph e

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1383-128463

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1497-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 67-73

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1524-128463

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 88-16

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1486-128463

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

+ Details

Name: us-gaap_BusinessCombinationDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 48 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6

Shareholders' Equity (Common Stock Dividends, Non-Vested Stock And Stock Options) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Disclosure Equity Components [Line Items]

Cash dividends paid per share of Common and Class B common stock $ 0.62 $ 0.52

Shares of non-vested restricted stock granted 58,301 391,852

Common Stock [Member]

Disclosure Equity Components [Line Items]

Stock options exercised, shares 21,500 65,800

Stock options exercised, value $ 987 $ 2,407

X

- Definition

Aggregate dividends paid during the period for each share of common stock outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

+ Details

Name: us-gaap_CommonStockDividendsPerShareCashPaid

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (j)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 19

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_ProceedsFromStockOptionsExercised

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 4, 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

+ Details

Name: us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of share options (or share units) exercised during the current period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28,29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)(iv)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30

-Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

+ Details

Name: us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Details

Name: wso_DisclosureEquityComponentsLineItems

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 49 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 48 148 1 false 19 0 false 5 false false R1.htm 00090 - Document - Document And Entity Information Sheet http://www.watsco.com/role/DocumentDocumentAndEntityInformation Document And Entity Information false false R2.htm 00100 - Statement - Condensed Consolidated Statements Of Income Sheet http://www.watsco.com/role/StatementCondensedConsolidatedStatementsOfIncome Condensed Consolidated Statements Of Income false false R3.htm 00200 - Statement - Condensed Consolidated Statements Of Comprehensive Income Sheet http://www.watsco.com/role/StatementCondensedConsolidatedStatementsOfComprehensiveIncome Condensed Consolidated Statements Of Comprehensive Income true false R4.htm 00300 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.watsco.com/role/StatementCondensedConsolidatedBalanceSheets Condensed Consolidated Balance Sheets false false R5.htm 00305 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://www.watsco.com/role/StatementCondensedConsolidatedBalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) false false R6.htm 00400 - Statement - Condensed Consolidated Statements Of Cash Flows Sheet http://www.watsco.com/role/StatementCondensedConsolidatedStatementsOfCashFlows Condensed Consolidated Statements Of Cash Flows false false R7.htm 10101 - Disclosure - Basis Of Presentation Sheet http://www.watsco.com/role/DisclosureBasisOfPresentation Basis Of Presentation false false R8.htm 10201 - Disclosure - Earnings Per Share Sheet http://www.watsco.com/taxonomy/role/DisclosureEarningsPerShare Earnings Per Share false false R9.htm 10301 - Disclosure - Other Comprehensive Income Sheet http://www.watsco.com/taxonomy/role/DisclosureOtherComprehensiveIncome Other Comprehensive Income false false R10.htm 10401 - Disclosure - Acquisitions Sheet http://www.watsco.com/role/DisclosureAcquisitions Acquisitions false false R11.htm 10501 - Disclosure - Shareholders' Equity Sheet http://www.watsco.com/role/DisclosureShareholdersEquity Shareholders' Equity false false R12.htm 10601 - Disclosure - Commitments And Contingencies Sheet http://www.watsco.com/role/DisclosureCommitmentsAndContingencies Commitments And Contingencies false false R13.htm 10701 - Disclosure - Related Party Transactions Sheet http://www.watsco.com/role/DisclosureRelatedPartyTransactions Related Party Transactions false false R14.htm 10801 - Disclosure - Subsequent Events Sheet http://www.watsco.com/taxonomy/role/DisclosureSubsequentEvents Subsequent Events false false R15.htm 20102 - Disclosure - Basis Of Presentation (Policy) Sheet http://www.watsco.com/role/DisclosureBasisOfPresentationPolicy Basis Of Presentation (Policy) false false R16.htm 30203 - Disclosure - Earnings Per Share (Tables) Sheet http://www.watsco.com/taxonomy/role/DisclosureEarningsPerShareTables Earnings Per Share (Tables) false false R17.htm 30303 - Disclosure - Other Comprehensive Income (Tables) Sheet http://www.watsco.com/role/DisclosureOtherComprehensiveIncomeTables Other Comprehensive Income (Tables) false false R18.htm 30403 - Disclosure - Acquisitions (Tables) Sheet http://www.watsco.com/role/DisclosureAcquisitionsTables Acquisitions (Tables) false false R19.htm 30503 - Disclosure - Shareholders' Equity (Tables) Sheet http://www.watsco.com/role/DisclosureShareholdersEquityTables Shareholders' Equity (Tables) false false R20.htm 40101 - Disclosure - Basis Of Presentation (Details) Sheet http://www.watsco.com/role/DisclosureBasisOfPresentationDetails Basis Of Presentation (Details) false false R21.htm 40201 - Disclosure - Earnings Per Share (Narrative) (Details) Sheet http://www.watsco.com/taxonomy/role/DisclosureEarningsPerShareNarrativeDetails Earnings Per Share (Narrative) (Details) false false R22.htm 40202 - Disclosure - Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details) Sheet http://www.watsco.com/taxonomy/role/DisclosureEarningsPerShareScheduleOfBasicAndDilutedEarningsPerCommonShareDetails Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details) false false R23.htm 40301 - Disclosure - Other Comprehensive Income (Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income) (Details) Sheet http://www.watsco.com/role/DisclosureOtherComprehensiveIncomeScheduleOfTaxEffectsAllocatedToEachComponentOfOtherComprehensiveIncomeDetails Other Comprehensive Income (Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income) (Details) false false R24.htm 40302 - Disclosure - Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Loss) (Details) Sheet http://www.watsco.com/role/DisclosureOtherComprehensiveIncomeScheduleOfAccumulatedOtherComprehensiveLossDetails Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Loss) (Details) false false R25.htm 40401 - Disclosure - Acquisitions (Narrative) Sheet http://www.watsco.com/role/DisclosureAcquisitionsNarrative Acquisitions (Narrative) false false R26.htm 40402 - Disclosure - Acquisitions (Schedule Of Unaudited Pro Forma Financial Information From Joint Venture) (Details) Sheet http://www.watsco.com/role/DisclosureAcquisitionsScheduleOfUnauditedProFormaFinancialInformationFromJointVentureDetails Acquisitions (Schedule Of Unaudited Pro Forma Financial Information From Joint Venture) (Details) false false R27.htm 40501 - Disclosure - Shareholders' Equity (Common Stock Dividends, Non-Vested Stock And Stock Options) (Details) Sheet http://www.watsco.com/role/DisclosureShareholdersEquityCommonStockDividendsNonVestedStockAndStockOptionsDetails Shareholders' Equity (Common Stock Dividends, Non-Vested Stock And Stock Options) (Details) false false R28.htm 40502 - Disclosure - Shareholders' Equity (Employee Stock Purchase Plan And 401(k) Plan) (Details) Sheet http://www.watsco.com/role/DisclosureShareholdersEquityEmployeeStockPurchasePlanAnd401KPlanDetails Shareholders' Equity (Employee Stock Purchase Plan And 401(k) Plan) (Details) false false R29.htm 40503 - Disclosure - Shareholders' Equity (Schedule Of Distributions To Noncontrolling Interest) (Details) Sheet http://www.watsco.com/role/DisclosureShareholdersEquityScheduleOfDistributionsToNoncontrollingInterestDetails Shareholders' Equity (Schedule Of Distributions To Noncontrolling Interest) (Details) false false R30.htm 40601 - Disclosure - Commitments And Contingencies (Details) Sheet http://www.watsco.com/role/DisclosureCommitmentsAndContingenciesDetails Commitments And Contingencies (Details) false false R31.htm 40701 - Disclosure - Related Party Transactions (Details) Sheet http://www.watsco.com/role/DisclosureRelatedPartyTransactionsDetails Related Party Transactions (Details) false false R32.htm 40801 - Disclosure - Subsequent Events (Details) Sheet http://www.watsco.com/taxonomy/role/DisclosureSubsequentEventsDetails Subsequent Events (Details) false false All Reports Book All Reports Element us-gaap_DebtInstrumentBasisSpreadOnVariableRate had a mix of decimals attribute values: 4 5. Element us-gaap_LineOfCreditFacilityCommitmentFeePercentage had a mix of decimals attribute values: 4 5. Process Flow-Through: 00100 - Statement - Condensed Consolidated Statements Of Income Process Flow-Through: 00200 - Statement - Condensed Consolidated Statements Of Comprehensive Income Process Flow-Through: 00300 - Statement - Condensed Consolidated Balance Sheets Process Flow-Through: Removing column 'Mar. 31, 2011' Process Flow-Through: Removing column 'Dec. 31, 2010' Process Flow-Through: 00305 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Process Flow-Through: 00400 - Statement - Condensed Consolidated Statements Of Cash Flows wso-20120331.xml wso-20120331.xsd wso-20120331_cal.xml wso-20120331_def.xml wso-20120331_lab.xml wso-20120331_pre.xml true true XML 50 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6

Basis Of Presentation (Details)

Mar. 31, 2012

Basis Of Presentation [Abstract]

Number of joint ventures 2

Controlling interest, ownership percentage 60.00%

X

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a (1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (a)(1)

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

+ Details

Name: us-gaap_EquityMethodInvestmentOwnershipPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Details

Name: wso_BasisOfPresentationAbstract

Namespace Prefix: wso_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of joint ventures.

+ References

No definition available.

+ Details

Name: wso_NumberOfJointVentures

Namespace Prefix: wso_

Data Type: xbrli:positiveIntegerItemType

Balance Type: na

Period Type: instant

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Acquisitions (Narrative)	Mar. 31, 2012	Apr. 29, 2011 Carrier Enterprise And Carrier Enterprise Northeast [Member]
Number of locations contributed to joint venture by controlling interest		28
Number of locations contributed to joint venture by controlling interest		14
Controlling interest, ownership percentage	60.00%
Noncontrolling interest, ownership percentage	40.00%

Shareholders' Equity (Schedule Of Distributions To Noncontrolling Interest) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Noncontrolling Interest [Line Items]
Controlling interest, ownership percentage	60.00%
Noncontrolling interest, ownership percentage	40.00%
Net income attributable to noncontrolling interest	$ 5,026	$ 3,622
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest at December 31, 2011	198,920
Net income attributable to noncontrolling interest	5,026
Noncontrolling interest at March 31, 2012	$ 203,946

Shareholders' Equity (Employee Stock Purchase Plan And 401(k) Plan) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Disclosure Equity Components [Line Items]
Non-cash contribution for 401(k) plan	$ 1,772	$ 1,718
401(k) Plan [Member]
Disclosure Equity Components [Line Items]
Common stock issued to profit sharing retirement plan, shares	26,991	27,240
Non-cash contribution for 401(k) plan	1,772	1,718
Employee Stock Purchase Plan [Member]
Disclosure Equity Components [Line Items]
Common stock issued under employee stock purchase plan, shares	2,962	3,997
Common stock issued under employee stock purchase plan, net proceeds	$ 194	$ 241

Commitments And Contingencies (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Commitments And Contingencies [Abstract]
Self-insurance reserves	$ 4,341	$ 4,631

Related Party Transactions (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Dec. 31, 2011
Related Party Transactions [Abstract]
Percentage of total purchases from Carrier and its affiliates	52.00%	41.00%
Amount payable to Carrier Corporation and its affiliates, net of receivables	$ 76,000		$ 41,000
Revenues from sales to Carrier Corporation and its affiliates	6,784	4,104
Transaction Service Agreements, termination date	April 30, 2012
Fees related to Transactional Services Agreements with Carrier Corporation	584
Amount payable to Carrier related to TSA	$ 361		$ 941

Subsequent Events (Details) (USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended		0 Months Ended		3 Months Ended				0 Months Ended	3 Months Ended
	Apr. 27, 2012	Mar. 31, 2012	Apr. 27, 2012 UTC Canada [Member]	Apr. 27, 2012 Carrier Enterprise III [Member]	Mar. 31, 2012 Minimum [Member]	Mar. 31, 2012 Maximum [Member]	Apr. 27, 2011 Swingline Subfacility [Member]	Apr. 27, 2011 Letter Of Credit Subfacility [Member]	Apr. 27, 2012 New Revolving Credit Facility [Member] Y	Mar. 31, 2012 New Revolving Credit Facility [Member]	Mar. 31, 2012 Previous Revolving Credit Facility [Member] Y	Mar. 31, 2012 Previous Carrier Enterprise I Secured Revolving Credit Agreement [Member] Y	Apr. 27, 2012 Scenario 1 [Member]	Mar. 31, 2012 Scenario 1 [Member] Minimum [Member]	Mar. 31, 2012 Scenario 1 [Member] Maximum [Member]	Apr. 27, 2012 Scenario 2 [Member]	Mar. 31, 2012 Scenario 2 [Member] Minimum [Member]	Mar. 31, 2012 Scenario 2 [Member] Maximum [Member]
Subsequent Event [Line Items]
Number of locations contributed to joint venture by controlling interest				35
Controlling interest, ownership percentage		60.00%		60.00%
Noncontrolling interest in Carrier Enterprise III		40.00%		40.00%
Fair value of shares issued to UTC Canada Corporation			$ 93,250
Cash consideration				82,042
Shares issued to UTC Canada Corporation, an affiliate of Carrier Corporation			1,250,000
Revolving credit agreement maximum borrowing capacity							50,000	50,000	500,000		300,000	125,000
Credit facility, term									5		5	3
Multicurrency borrowing sublimit	75,000
Basis spread													1.125%	1.00%	2.75%	0.125%	0.00%	1.75%
Line of credit facility repayments	$ 154,000
Commitment fee percentage on unused portion of the commitment	0.15%				0.125%	0.40%
Revolving credit agreement maturity date										April 2017

Condensed Consolidated Statements Of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Condensed Consolidated Statements Of Income [Abstract]
Revenues	$ 633,512	$ 534,339
Cost of sales	482,890	399,353
Gross profit	150,622	134,986
Selling, general and administrative expenses	130,713	118,276
Operating income	19,909	16,710
Interest expense, net	888	822
Income before income taxes	19,021	15,888
Income taxes	5,529	4,766
Net income	13,492	11,122
Less: net income attributable to noncontrolling interest	5,026	3,622
Net income attributable to Watsco, Inc.	$ 8,466	$ 7,500
Earnings per share for Common and Class B common stock:
Basic	$ 0.23	$ 0.21
Diluted	$ 0.23	$ 0.21

Condensed Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flows from operating activities:
Net income	$ 13,492	$ 11,122
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	3,081	2,617
Share-based compensation	2,162	1,497
Non-cash contribution for 401(k) plan	1,772	1,718
Provision for doubtful accounts	520	915
Excess tax benefits from share-based compensation	(148)	(725)
Other, net	424	601
Changes in operating assets and liabilities:
Accounts receivable	(12,234)	21,213
Inventories	(67,083)	(110,907)
Accounts payable and other liabilities	68,067	28,922
Other, net	(600)	(1,899)
Net cash provided by (used in) operating activities	9,453	(44,926)
Cash flows from investing activities:
Capital expenditures	(3,883)	(1,692)
Proceeds from sale of property and equipment	71	57
Net cash used in investing activities	(3,812)	(1,635)
Cash flows from financing activities:
Dividends on Common and Class B common stock	(20,470)	(16,938)
Distributions to noncontrolling interest	(6,630)	(12,926)
Return of capital contribution to noncontrolling interest		(32,000)
Net proceeds from (repayments of) long-term obligations	14	(11)
Excess tax benefits from share-based compensation	148	725
Net proceeds from issuances of common stock	1,181	2,648
Net borrowings under revolving credit agreements	22,500	14,100
Net cash used in financing activities	(3,257)	(44,402)
Net increase (decrease) in cash and cash equivalents	2,384	(90,963)
Cash and cash equivalents at beginning of period	15,673	126,498
Cash and cash equivalents at end of period	$ 18,057	$ 35,535

Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Watsco, Inc. shareholders	$ 8,466	$ 7,500
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - basic	1,408	1,152
Earnings allocated to Watsco, Inc. shareholders - basic	7,058	6,348
Weighted-average Common and Class B common shares outstanding for basic earnings per share	30,756,626	30,601,573
Basic earnings per share for Common and Class B common stock	$ 0.23	$ 0.21
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock - diluted	1,408	1,152
Earnings allocated to Watsco, Inc. shareholders - diluted	7,058	6,348
Effect of dilutive stock options	77,842	92,779
Weighted-average Common and Class B common shares outstanding for diluted earnings per share	30,834,468	30,694,352
Diluted earnings per share for Common and Class B common stock	$ 0.23	$ 0.21
Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Earnings allocated to Watsco, Inc. shareholders - basic	6,405	5,755
Class B Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Earnings allocated to Watsco, Inc. shareholders - basic	$ 653	$ 593

Condensed Consolidated Statements Of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 13,492	$ 11,122
Unrealized gain on derivative instrument arising during the period		71
Unrealized gain on available-for-sale securities arising during the period	16	7
Other comprehensive income	16	78
Comprehensive income	13,508	11,200
Less: comprehensive income attributable to noncontrolling interest	5,026	3,622
Comprehensive income attributable to Watsco, Inc.	$ 8,482	$ 7,578

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2012	May 04, 2012 Common Stock [Member]	May 04, 2012 Class B Common Stock [Member]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Trading Symbol	WSO
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	WATSCO INC
Entity Central Index Key	0000105016
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		29,682,083	4,709,432

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 18,057	$ 15,673
Accounts receivable, net	339,378	327,664
Inventories	532,432	465,349
Other current assets	21,095	19,491
Total current assets	910,962	828,177
Property and equipment, net	40,727	39,455
Goodwill	319,440	319,440
Intangible assets, net	74,753	75,366
Other assets	4,731	5,710
Total assets	1,350,613	1,268,148
Current liabilities:
Current portion of long-term obligations	16	19
Borrowings under revolving credit agreements	42,500	20,000
Accounts payable	182,462	127,359
Accrued expenses and other current liabilities	82,361	75,661
Total current liabilities	307,339	223,039
Deferred income taxes and other liabilities	43,315	43,399
Commitments and contingencies
Watsco, Inc. shareholders' equity:
Preferred stock, $0.50 par value
Paid-in capital	498,675	493,519
Accumulated other comprehensive loss, net of tax	(336)	(352)
Retained earnings	392,356	404,360
Treasury stock, at cost	(114,425)	(114,425)
Total Watsco, Inc. shareholders' equity	796,013	802,790
Noncontrolling interest	203,946	198,920
Total shareholders' equity	999,959	1,001,710
Total liabilities and shareholders' equity	1,350,613	1,268,148
Common Stock [Member]
Watsco, Inc. shareholders' equity:
Common stock, $0.50 par value	17,364	17,338
Class B Common Stock [Member]
Watsco, Inc. shareholders' equity:
Common stock, $0.50 par value	$ 2,379	$ 2,350

Other Comprehensive Income (Schedule Of The Tax Effects Allocated To Each Component Of Other Comprehensive Income) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Other Comprehensive Income [Abstract]
Unrealized gain on derivative instrument		$ 115
Income tax expense		44
Unrealized gain on derivative instrument, net of tax		71
Unrealized gain on available-for-sale securities	25	11
Income tax expense	9	4
Unrealized gain on available-for-sale securities, net of tax	16	7
Other comprehensive income	$ 16	$ 78

Basis Of Presentation (Policy)	3 Months Ended
Basis Of Presentation (Policy)	Mar. 31, 2012
Basis Of Presentation [Abstract]
Basis Of Consolidation	Basis of Consolidation Watsco, Inc. and its subsidiaries (collectively, "Watsco," which may be referred to as we, us or our) was incorporated in 1956 in Florida and is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies ("HVAC/R") in the HVAC/R distribution industry. The accompanying Watsco March 31, 2012 interim condensed consolidated unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated unaudited financial statements herein. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2011 Annual Report on Form 10-K. The condensed consolidated unaudited financial statements contained in this report include the accounts of Watsco and all of its wholly-owned subsidiaries and include the accounts of two joint ventures with Carrier Corporation ("Carrier"), in each of which Watsco maintains a 60% controlling interest. All significant intercompany balances and transactions have been eliminated. The results of operations for the quarter ended March 31, 2012 are not necessarily indicative of the results to be expected for the year ending December 31, 2012. Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Furthermore, results of operations can be impacted favorably or unfavorably based on weather patterns during the summer and winter selling seasons. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly consistent during the year, except for dependence on housing completions and related weather and economic conditions.
Reclassifications	Reclassifications Certain reclassifications of prior year amounts have been made to conform to the 2012 presentation. These reclassifications had no effect on net income or earnings per share as previously reported.
Use Of Estimates	Use of Estimates The preparation of condensed consolidated unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated unaudited financial statements and the reported amounts of revenues and expenses for the reporting period. Significant estimates include valuation reserves for accounts receivable, inventory and income taxes, reserves related to self-insurance programs and valuation of goodwill and indefinite lived intangible assets. While we believe that these estimates are reasonable, actual results could differ from such estimates.

Earnings Per Share (Narrative) (Details)	3 Months Ended
Earnings Per Share (Narrative) (Details)	Mar. 31, 2012	Mar. 31, 2011
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive stock options not included in computation of diluted earnings per share	0	7,628
Class B Common Stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Convertible Class B common stock outstanding	2,846,334	2,858,442

Acquisitions (Schedule Of Unaudited Pro Forma Financial Information From Joint Venture) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2011
Acquisitions [Abstract]
Revenues	$ 587,847
Net income	10,656
Less: net income attributable to noncontrolling interest	3,662
Net income attributable to Watsco, Inc.	$ 6,994
Diluted earnings per share for Common and Class B common stock	$ 0.19

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2012	Dec. 31, 2011
Preferred stock, par value	$ 0.50	$ 0.50
Common Stock [Member]
Common stock, par value	$ 0.50	$ 0.50
Class B Common Stock [Member]
Common stock, par value	$ 0.50	$ 0.50

Basis Of Presentation (Details)	Mar. 31, 2012
Basis Of Presentation [Abstract]
Number of joint ventures	2
Controlling interest, ownership percentage	60.00%