AMETEK INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>AMETEK Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

AMETEK INC/ (AME) filed a Annual Report (10-K) with the SEC on February 22, 2024. AMETEK Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Industrial Instruments for Measurement, Display, and Control. AMETEK INC/ is incorporated in Delaware. The company's headquarters are located at 1100 Cassatt Road, Berwyn, PA.

Why It Matters

For investors and stakeholders tracking AMETEK INC/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of AMETEK's financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's current standing and future prospects. As a key regulatory filing, this document offers insights into the company's compliance, risk factors, and management's discussion of results, which can influence investment decisions and market perception.

Risk Assessment

Risk Level: low — AMETEK INC/ shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a stable operational and financial status.

Analyst Insight

Review the detailed financial statements and management's discussion within the 10-K to understand AMETEK's performance drivers and identify any emerging trends or risks.

Key Numbers

• 2023 — Fiscal Year End (Period of report)
• 2024-02-22 — Filing Date (Date of filing)
• 3823 — SIC Code (Industrial Instruments for Measurement, Display, and Control)
• DE — State of Incorporation (Delaware)

Key Players & Entities

• AMETEK INC/ (company) — Filer name
• 2023 (date) — Fiscal year end
• February 22, 2024 (date) — Filing date
• December 31, 2023 (date) — Period of report
• 3823 (other) — Standard Industrial Classification code
• DE (other) — State of incorporation
• 1100 CASSATT ROAD (other) — Business street address
• BERWYN (other) — Business city

FAQ

Industry Context

AMETEK operates within the industrial instruments sector, focusing on measurement, display, and control technologies.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the financial statements (Income Statement, Balance Sheet, Cash Flow) for the fiscal year ended December 31, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Examine the 'Risk Factors' section for any new or evolving risks that could impact the company.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date AMETEK INC. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.01 — ct: Title of each class Common Stock, $0.01 Par Value (voting) Trading symbol(s)
• $1.6 billion — annualized sales totaling approximately $1.6 billion. AMETEK targets companies that offer a
• $6,597.0 m — 3, the Company achieved record sales of $6,597.0 million, an increase of 7.3% from 2022 du
• $5 — rnings per share for 2023 were a record $5.67, an increase of $0.66 or 13.2%, comp
• $0.66 — 023 were a record $5.67, an increase of $0.66 or 13.2%, compared with $5.01 per dilut
• $5.01 — crease of $0.66 or 13.2%, compared with $5.01 per diluted share in 2022. Recent Acqu
• $2,237.9 million — 022. Recent Acquisitions AMETEK spent $2,237.9 million in cash, net of cash acquired, to purch

Filing Documents

• ame-20231231.htm (10-K) — 2080KB
• ex108changeofcontrolamendr.htm (EX-10.8) — 119KB
• ex1036rsanon-us.htm (EX-10.36) — 108KB
• ex1037optionsfrance.htm (EX-10.37) — 56KB
• exhibit1038globalnon-qualso.htm (EX-10.38) — 173KB
• exhibit1039optionsnq-ceo.htm (EX-10.39) — 156KB
• ame-20231231xex21.htm (EX-21.1) — 184KB
• ame-20231231xex23.htm (EX-23.1) — 6KB
• ame-20231231xexx311.htm (EX-31.1) — 9KB
• ame-20231231xexx312.htm (EX-31.2) — 9KB
• ame-20231231xexx321.htm (EX-32.1) — 5KB
• ame-20231231xexx322.htm (EX-32.2) — 5KB
• ex971execcomprecouppolicy.htm (EX-97.1) — 19KB
• ame-20231231_g1.jpg (GRAPHIC) — 87KB
• 0001037868-24-000009.txt (&nbsp;) — 13927KB
• ame-20231231.xsd (EX-101.SCH) — 81KB
• ame-20231231_cal.xml (EX-101.CAL) — 105KB
• ame-20231231_def.xml (EX-101.DEF) — 422KB
• ame-20231231_lab.xml (EX-101.LAB) — 1132KB
• ame-20231231_pre.xml (EX-101.PRE) — 760KB
• ame-20231231_htm.xml (XML) — 2253KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. [Reserved] 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 32 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78 Item 9A.

Controls and Procedures

Controls and Procedures 78 Item 9B. Other Information 78 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 78 PART III Item 10. Directors, Executive Officers and Corporate Governance 79 Item 11.

Executive Compensation

Executive Compensation 79 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 80 Item 13. Certain Relationships and Related Transactions, and Director Independence 80 Item 14. Principal Accountant Fees and Services 80 PART IV Item 15. Exhibits and Financial Statement Schedules 81 Item 16. Form 10-K Summary 85

SIGNATURES

SIGNATURES 86 1 Table of Contents PART I

Business

Item 1. Business General Development of Business AMETEK, Inc. ("AMETEK" or the "Company") is incorporated in Delaware. Its predecessor was originally incorporated in Delaware in 1930 under the name American Machine and Metals, Inc. AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. AMETEK maintains its principal executive offices at 1100 Cassatt Road, Berwyn, Pennsylvania, 19312. Listed on the New York Stock Exchange (symbol: AME), the common stock of AMETEK is a component of the Standard and Poor's 500 and the Russell 1000 Indices. Products and Services AMETEK's products are marketed and sold worldwide through two operating groups: Electronic Instruments ("EIG") and Electromechanical ("EMG"). Electronic Instruments is a leader in the design and manufacture of advanced instruments for the process, power and industrial, and aerospace markets. Electromechanical is a differentiated supplier of precision motion control solutions, thermal management systems, specialty metals and electrical interconnects. Its end markets include aerospace and defense, medical, automation and other industrial markets. Competitive Strengths Management believes AMETEK has significant competitive advantages that help strengthen and sustain its market positions. Those advantages include: Significant Market Share . AMETEK maintains significant market share in a number of targeted niche markets through its ability to produce and deliver high-quality, differentiated products at competitive prices. EIG has significant market positions in niche segments of the process, power and industrial, and aerospace markets. EMG holds significant positions in niche segments of the aerospace and defense, automation and medical markets. Technological and Development Capabilities . AMETEK believes it has certain technological advantages over its competitors that allow it to maintain its leading m

View Full Filing

View this 10-K filing on SEC EDGAR