☒ | Annual Report Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 |
☐ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
59-0778222 | ||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common stock, $0.50 par value | WSO | New York Stock Exchange | ||
Class B common stock, $0.50 par value | WSOB | New York Stock Exchange |
Large accelerated filer | ☒ | Accelerated filer | ||||
☐ | ||||||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||
Emerging growth company | ☐ |
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Item 1A. | 11 | |||||||||
Item 1B. | 16 | |||||||||
Item 2. | 16 | |||||||||
Item 3. | 16 | |||||||||
Item 4. | 16 | |||||||||
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Item 6. | 18 | |||||||||
Item 7. | ||||||||||
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Item 9. | 18 | |||||||||
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Item 9B. | 19 | |||||||||
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Item 16. | ||||||||||
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ITEM 1. | BUSINESS |
The markets we serve are as follows: | % of Revenues for the Year Ended December 31, 2019 | Number of Locations as of December 31, 2019 | ||||||
United States | 88 | % | 544 | |||||
Canada | 6 | % | 36 | |||||
Latin America and the Caribbean | 6 | % | 26 | |||||
Total | 100 | % | 606 | |||||
The markets we serve are as follows: | % of Revenues for the Year Ended December 31, 2020 | Number of Locations as of December 31, 2020 | ||||||
United States | 90 | % | 541 | |||||
Canada | 6 | % | 36 | |||||
Latin America and the Caribbean | 4 | % | 23 | |||||
Total | 100 | % | 600 | |||||
Florida | 100 | |||
Texas | ||||
North Carolina | 45 | |||
California | 36 | |||
Georgia | 33 | |||
South Carolina | 31 | |||
Virginia | 24 | |||
Tennessee | 22 | |||
18 | ||||
New York | ||||
New Jersey | ||||
Alabama | 10 | |||
Arizona | 9 | |||
Connecticut | ||||
Massachusetts | ||||
Mississippi | 8 | |||
Missouri | 8 | |||
Kansas | 6 | |||
Maryland | 6 | |||
Oklahoma | 5 | |||
Utah | 5 | |||
Arkansas | 4 | |||
Indiana | 2 | |||
Iowa | 2 | |||
Kentucky | 2 | |||
Maine | 2 | |||
Nebraska | 2 | |||
Nevada | 2 | |||
South Dakota | 2 | |||
West Virginia | 2 | |||
Colorado | 1 | |||
Delaware | 1 | |||
New Hampshire | 1 | |||
New Mexico | 1 | |||
North Dakota | 1 | |||
Rhode Island | 1 | |||
Vermont | 1 | |||
United States | ||||
Canada | 36 | |||
Mexico | ||||
Puerto Rico | ||||
Total | ||||
ITEM 1A. | RISK FACTORS |
ITEM 1B. | UNRESOLVED STAFF COMMENTS |
ITEM 2. | PROPERTIES |
ITEM 3. | LEGAL PROCEEDINGS |
ITEM 4. | MINE SAFETY DISCLOSURES |
ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES |
12/31/15 | 12/31/16 | 12/31/17 | 12/31/18 | 12/31/19 | 12/31/20 | |||||||||||||||||||
Watsco, Inc. | 100.00 | 130.00 | 153.87 | 129.98 | 175.41 | 228.94 | ||||||||||||||||||
Watsco Class B | 100.00 | 128.63 | 150.64 | 124.43 | 174.08 | 232.06 | ||||||||||||||||||
Russell 2000 Index | 100.00 | 121.31 | 139.08 | 123.76 | 155.35 | 186.36 | ||||||||||||||||||
S&P MidCap 400 Index | 100.00 | 120.74 | 140.35 | 124.80 | 157.49 | 179.00 | ||||||||||||||||||
S&P 500 Index | 100.00 | 111.96 | 136.40 | 130.42 | 171.49 | 203.04 |
12/31/14 | 12/31/15 | 12/31/16 | 12/31/17 | 12/31/18 | 12/31/19 | |||||||||||||||||||
Watsco, Inc. | 100.00 | 112.04 | 145.65 | 172.39 | 145.63 | 196.53 | ||||||||||||||||||
Watsco Class B | 100.00 | 113.56 | 146.08 | 171.07 | 141.30 | 197.69 | ||||||||||||||||||
Russell 2000 Index | 100.00 | 95.59 | 115.95 | 132.94 | 118.30 | 148.49 | ||||||||||||||||||
S&P MidCap 400 Index | 100.00 | 97.82 | 118.11 | 137.30 | 122.08 | 154.07 | ||||||||||||||||||
S&P 500 Index | 100.00 | 101.38 | 113.51 | 138.29 | 132.23 | 173.86 |
ITEM 6. | SELECTED FINANCIAL DATA |
ITEM 7. |
Our
Our
Our The
None.
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”), Executive Vice President (“EVP”) 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, EVP 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, EVP and CFO concluded that our disclosure controls and procedures were effective, at a reasonable assurance level, at and as of such date. Management’s Report on Internal Control over Financial Reporting Our . 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 were no changes in internal controls over financial reporting (as such term is defined in Rules 13a-15(f) and15d-15(f) under the Exchange Act) during the quarter ended December 31,
None. PART III This part of Form 10-K, which includes Items 10 through 14, is omitted because we will file definitive proxy material pursuant to Regulation 14A not more than 120 days after the close of our most recently ended fiscal year, which proxy material will include the information required by Items 10 through 14 and is incorporated herein by reference.PART IV
INDEX TO EXHIBITS
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None. 22 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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