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Document and Entity Information (USD $)
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3 Months Ended | ||
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Jan. 31, 2011
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Mar. 04, 2011
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Apr. 30, 2010
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| Document and Entity Information [Abstract] | |||
| Entity Registrant Name | ABM INDUSTRIES INC /DE/ | ||
| Entity Central Index Key | 0000771497 | ||
| Document Type | 10-Q | ||
| Document Period End Date | Jan. 31, 2011 | ||
| Amendment Flag | false | ||
| Document Fiscal Year Focus | 2011 | ||
| Document Fiscal Period Focus | Q1 | ||
| Current Fiscal Year End Date | --10-31 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Public Float | $ 1,100,912,951 | ||
| Entity Common Stock, Shares Outstanding | 53,019,808 |
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- 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. No definition available.
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- 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. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. 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, NCSR, N-Q, and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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 No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have 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 registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- 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. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Current portion of the carrying amount 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 incidents and personal injury to nonemployees from accidents on an entity's property. No definition available.
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- Definition
The short-term portion of known and estimated amount recoverable as of the balance sheet date from insurance, for claims which exceed the Company's deductibles (due within one year or within the normal operating cycle if longer). No definition available.
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- Definition
The non-current portion of known and estimated amount recoverable as of the balance sheet date from insurance, for claims which exceed the Company's deductibles. Noncurrent assets are expected to be received after one year (or the normal operating cycle, if longer). No definition available.
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- Definition
This represents the noncurrent liability for unfunded pension and other postretirement benefit plans (such as medical, dental and life insurance) and other noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). No definition available.
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for payroll, sales, use, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
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- 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due beyond one year or the operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-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, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The aggregate value (measured at the lower of net carrying value or fair value less cost of disposal) for current assets (assets with expected useful life shorter than one year or one operating cycle, whichever is longer) of a disposal group, including a component of the entity (discontinued operation), to be sold or that has subsequently been disposed of through sale, as of the financial statement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate value (measured at the lower of net carrying value or fair value less cost of disposal) for noncurrent assets (assets with expected useful life longer than one year or one operating cycle, whichever is longer) of a disposal group, including a component of the entity (discontinued operation), to be sold or that has subsequently been disposed of through sale, as of the financial statement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of debt securities categorized neither as held-to-maturity nor trading which are intended be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains and losses of such securities are excluded from earnings and included in other comprehensive income, a separate component of shareholders' equity, unless the Available-for-sale Security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain or loss of an Available-for-sale Security that is designated as being hedged in a fair value hedge shall be recognized in earnings during the period of the hedge, as should other than temporary declines in fair value below costs basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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 should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment losses recognized. No definition available.
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- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The carrying value as of the balance sheet date of the noncurrent 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of expenditures made, not otherwise specified in the taxonomy, in advance of the timing of recognition of expenses which are expected to be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) whether issued at par value, no par or stated value. 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of payments made in advance for income and other taxes, which will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount to be collected within one year of the balance sheet date (or one operating cycle, if longer) from customers in accordance with the contractual provisions of long-term contracts or programs including amounts billed and unbilled as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount 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. No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jan. 31, 2011
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Oct. 31, 2010
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| Current assets | ||
| Allowances for trade accounts receivable | $ 15,705 | $ 10,672 |
| Accumulated depreciation on property, plant and equipment | 105,252 | 98,884 |
| Accumulated amortization on other intangible assets | $ 60,236 | $ 54,889 |
| Stockholders' equity | ||
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 500,000 | 500,000 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100,000,000 | 100,000,000 |
| Common stock, shares issued | 52,989,573 | 52,635,343 |
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- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. No definition available.
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. No definition available.
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- Details
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- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
This element represents the income or loss from continuing operations attributable to the reporting entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles, but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of income (loss) from continuing operations per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of income (loss) from continuing operations available to each share of common stock outstanding during the reporting period and each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group apportioned to the parent that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes after deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income (loss) from disposition of discontinued operations, net of related tax effect, per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income (loss) from discontinued operations, net of related tax effect, per each diluted share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the changes in the value of discounted acquired self-insurance reserves due to the passage of time. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the amount of known and estimated amounts recoverable as of the balance sheet date from insurance, for claims which exceed the Company's deductibles. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the amount 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 an entity's property. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the period for liabilities of unfunded pension and postretirement benefit plans (such as medical, dental and life insurance) and other obligations not separately disclosed in the balance sheet due to materiality considerations. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| 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 should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents cash provided by (used in) the operating activities of the entity's discontinued operations during the period. This element should only be used by those entities that separately report cash flows attributable to discontinued operations. If using this element, it is an indication that the cash flows of the entity which are detailed in reconciling to cash provided by or used in operating activities reflect only cash flows attributable to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate proceeds received by the entity during the annual period from exercises of stock options and conversion of similar instruments granted under share-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the reporting entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles, but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group apportioned to the parent that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes after deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the period in the amount of cash payments due to taxing authorities for taxes that are based on the reporting entity's earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in other operating assets not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the value of this group of assets within the working capital section. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period for interest owed on money borrowed; includes amount of interest capitalized Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) the entity's continuing operations. This element specifically EXCLUDES the cash flows derived by the entity from its discontinued operations, if any. This element is only to be used when the entity reports its cash flows attributable to discontinued operations separately from the cash flow provided by or used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow 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 maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from the excess drawing from an existing cash balance, which will be honored by the bank but reflected as a loan to the drawer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn 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 maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified stock options) recognized on the entity's tax return exceeds compensation cost from non-qualified stock options recognized on the income statement. This element increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Basis of Presentation
|
3 Months Ended |
|---|---|
|
Jan. 31, 2011
|
|
| Basis of Presentation [Abstract] | |
| Basis of Presentation |
1. Basis of Presentation
The accompanying condensed consolidated financial statements of ABM Industries Incorporated (“ABM”)
represent the accounts of ABM and its subsidiaries (collectively, the “Company”). The financial
statements contained in this report are unaudited and should be read in conjunction with the
consolidated financial statements and accompanying notes filed with the U.S. Securities and
Exchange Commission (“SEC”) in ABM’s Annual Report on Form 10-K for the fiscal year ended October
31, 2010. All references to years are to the Company’s fiscal year, which ends on October 31.
The accompanying condensed consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America (“GAAP”). The preparation
of financial statements in accordance with GAAP requires management to make estimates and
assumptions that affect the amounts reported in ABM’s condensed consolidated financial statements
and the accompanying notes. These estimates are based on information available as of the date of
these financial statements. As future events and their effects cannot be determined with precision,
actual results could differ significantly from these estimates. Changes in those estimates
resulting from continuing changes in the economic environment will be reflected in the financial
statements in future periods. In the opinion of management, the accompanying condensed consolidated
financial statements reflect all normal and recurring adjustments necessary to fairly state the
information for each period contained therein. The results of operations for the three months ended
January 31, 2011 are not necessarily indicative of the operating results that might be expected for
the full fiscal year or any future periods.
Significant Accounting Policies
For a description of the Company’s significant accounting policies, see Item 8, Financial
Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended
October 31, 2010. In connection with the acquisition of The Linc Group, LLC (“Linc”) on December 1,
2010, the Company has adopted the following additional significant accounting policies:
Revenue Recognition
Linc performs long-term fixed-price repair and refurbishment contracts which are accounted for
under the percentage-of-completion method of accounting. Under the percentage-of-completion method,
revenues are recognized as the work progresses. The percentage of work completed is determined
principally by comparing the actual costs incurred to date with the current estimate of total costs
to complete to measure the stage of completion. Revenue and gross profit are adjusted periodically
for revisions in estimated total contract costs and values. Estimated losses are recorded when
identified.
Linc maintains individual and area franchises that permit companies to perform engineering services
under the “Linc Network” brand. Revenue from franchisees consists of start-up fees (which are
recognized when all material services or conditions relating to the sale have been substantially
performed or satisfied) and continuing franchise royalty fees that are generally based on a
percentage of franchisee revenue (which are recorded as revenue by the Company as the fees are
earned and become receivable from the franchisee). Direct (incremental) costs relating to franchise
sales for which the revenue has not been recognized are deferred until the related revenue is
recognized. Costs relating to continuing franchise fees are expensed as incurred.
Guarantees
Linc offers certain customers guaranteed energy savings on installed equipment under long-term
service and maintenance contracts. The total energy savings guarantees were $24.1 million at
January 31, 2011 and extend from 2012 to 2025. The Company accrues for the estimated cost of
guarantees when it is probable that a liability has been incurred and the amount can be reasonably
estimated based on historical experience. Historically, Linc has not incurred any significant
losses in connection with these guarantees, and the Company does not expect any significant future
losses.
Investments in Unconsolidated Affiliates
Linc owns non-controlling interests in certain affiliated entities that provide engineering
services to government and commercial clients, primarily in the United States and the Middle East.
The carrying amount of the investments in unconsolidated affiliates was $12.0 million at January
31, 2011. The Company accounts for such investments, in which it holds a significant interest but
does not exercise controlling influence, under the equity method of accounting. The Company
evaluates its equity method investments for impairment whenever events, or changes in
circumstances, indicate that the carrying amounts of such investments may not be recoverable. The
differences between the carrying amounts and the estimated fair values of equity method investments
are recognized as an impairment loss when the loss is deemed to be other-than-temporary.
Parking Revenue Presentation
The Company’s Parking segment reports both revenues and expenses, in equal amounts, for costs
directly reimbursed from its managed parking lot clients. Parking revenues related solely to the
reimbursement of expenses totaled $73.4 million and $56.0 million for the three months ended
January 31, 2011 and 2010, respectively.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 31, 2011
|
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| Acquisitions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions |
2. Acquisitions
On December 1, 2010, the Company acquired Linc pursuant to an Agreement and Plan of Merger, dated
as of December 1, 2010 (the “Merger Agreement”), by and among ABM, Linc, GI Manager LP, as the
Members Representative, and Lightning Services, LLC, a wholly-owned subsidiary of ABM (“Merger
Sub”). Pursuant to the Merger Agreement, Merger Sub merged with and into Linc, and Linc continued
as the surviving corporation and as a wholly-owned subsidiary of ABM. The aggregate purchase price
for all of the outstanding limited liability company interests of Linc was $300.6 million, subject
to certain adjustments as set forth in the Merger Agreement. Linc provides end-to-end integrated
facilities management services that improve operating efficiencies, reduce energy consumption and
lower overall operational costs for governmental, commercial and residential clients throughout the
United States and in select international markets. Some of these services are performed through
franchisees and other affiliated entities. The operations of Linc are included in the Engineering
segment as of the acquisition date. Revenues and operating profit associated with Linc, and
included in the Company’s condensed consolidated statements of income for the three months ended
January 31, 2011, were $93.6 million and $3.1 million, respectively. Pro forma financial
information for this acquisition has not been provided, as such information is not materially
different from the Company’s historical results.
This acquisition was accounted for under the acquisition method of accounting. The Company has
performed a preliminary allocation of the purchase price to the underlying net assets acquired and
liabilities assumed based on their estimated fair values as of the acquisition date, with any
excess of the purchase price allocated to goodwill. The Company has not completed the analysis of
certain acquired assets and assumed liabilities, including, but not limited to, other identifiable
intangible assets (customer contracts), investments in unconsolidated affiliates, self-insurance
reserves, certain legal contingencies, and income taxes. However, the Company is continuing its
review of these items during the measurement period, and further changes to the preliminary
allocation will be recognized as the valuations are finalized.
The preliminary purchase price and related allocations are summarized as follows:
The fair values of the acquired customer contracts will be amortized using the
sum-of-the-years-digits method, over their useful lives of 13 — 20 years, which is consistent with
the estimated useful life considerations used in the determination of their preliminary fair
values. The amount allocated to goodwill is reflective of the Company’s identification of
buyer-specific synergies that the Company anticipates will be realized by, among other things,
reducing duplicative positions and back office functions, consolidating facilities, and reducing
professional fees and other services.
The transaction was a taxable asset acquisition of the Linc organization for U.S. income tax
purposes and no deferred taxes have been recorded on a significant portion of the acquired assets
and liabilities. However, deferred taxes have been recorded for certain assets and liabilities
where the Company receives a carryover basis for tax purposes. Additional deferred taxes may be
recorded as the Company finalizes its assessments of the fair value of the remaining acquired
assets and liabilities. A significant portion of the goodwill associated with the acquisition is
expected to be amortizable for income tax purposes.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description of a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. This element may be used as a single block of text to encapsulate the entire disclosure (including data and tables) regarding business combinations, including leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2011
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| Fair Value Measurements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements |
3. Fair Value Measurements
A fair value measurement is determined based on the assumptions that a market participant would use
in pricing an asset or liability. A three-tiered hierarchy draws distinctions between market
participant assumptions based on (i) observable inputs such as quoted prices in active markets
(Level 1), (ii) inputs other than quoted prices in active markets that are observable either
directly or indirectly (Level 2), and (iii) unobservable inputs that require the Company to use
present value and other valuation techniques in the determination of fair value (Level 3).
The following tables present information about assets and liabilities required to be carried at
fair value on a recurring basis as of January 31, 2011 and October 31, 2010:
The fair value of the assets held in the funded deferred compensation plan is based on quoted
market prices.
For investments in auction rate securities that were not redeemed or had no market activity
indicative of fair market value, the fair value of the investments in auction rate securities is
based on discounted cash flow valuation models, primarily utilizing unobservable inputs. During the
three months ended January 31, 2011, the Company had no transfers of assets or liabilities between
any of the above hierarchy levels. See Note 4, “Auction Rate Securities,” for the roll-forwards of
assets measured at fair value using significant unobservable Level 3 inputs.
The fair value of the interest rate swaps is estimated based on the present value of the difference
between expected cash flows calculated at the contracted interest rates and the expected cash flows
at current market interest rates using observable benchmarks for London Interbank Offered Rate
forward rates at the end of the period. See Note 7, “Line of Credit Facility.”
Other Financial Assets and Liabilities
Due to the short-term maturities of the Company’s cash, cash equivalents, receivables, payables,
and current assets and liabilities of discontinued operations, the carrying value of these
financial instruments approximates their fair market values. Due to the variable interest rates,
the fair value of outstanding borrowings under the Company’s $650.0 million line of credit
approximates its carrying value of $430.0 million. The carrying value of the receivables included
in non-current assets of discontinued operations of $0.8 million and the insurance deposits related
to self-insurance claims of $36.2 million approximates fair market value.
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- Definition
This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Auction Rate Securities
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Jan. 31, 2011
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| Auction Rate Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Auction Rate Securities |
4. Auction Rate Securities
As of January 31, 2011, the Company held investments in auction rate securities from five different
issuers having an original principal amount of $5.0 million each (aggregating $25.0 million). At
January 31, 2011 and October 31, 2010, the estimated fair value of these securities, in total, was
approximately $20.9 million and $20.2 million, respectively. These auction rate securities are debt
instruments with stated maturities ranging from 2025 to 2050, for which the interest rate is
designed to be reset through Dutch auctions approximately every 30 days. Auctions for these
securities have not occurred since August 2007. On February 11, 2011, one of the Company’s auction
rate securities was redeemed by the issuer at its par value of $5.0 million. As of January 31, 2011
and the redemption date, this security was valued at $5.0 million, therefore, no gain or loss was
recognized upon its redemption.
For securities that were not redeemed or had no market activity indicative of fair market value,
the Company estimates the fair values of auction rate securities it holds utilizing a
discounted cash flow model, which considers, among other factors, assumptions
about: (1) the underlying collateral; (2) credit risks associated with the issuer; (3)
contractual maturity; (4) credit enhancements associated with financial insurance guarantees, if
any; and (5) assumptions about when, if ever, the security might be re-financed
by the issuer or have a successful auction. Since there can be no assurance
that auctions for these securities will be successful in the near future, the Company has
classified its auction rate securities as long-term investments.
The following table presents the significant assumptions used to determine the fair value of
the Company’s auction rate securities at January 31, 2011 and October 31, 2010:
The Company’s determination of whether its auction rate securities are other-than-temporarily
impaired is based on an evaluation of several factors, circumstances, and known or reasonably
supportable trends including, but not limited to: (1) the Company’s intent to not sell the
securities; (2) the Company’s assessment that it is not more likely than not that the Company will
be required to sell the securities before recovering its cost basis; (3) expected defaults; (4)
available ratings for the securities or the underlying collateral; (5) the rating of the associated
guarantor (where applicable); (6) the nature and value of the underlying collateral expected to
service the investment; (7) actual historical performance of the security in servicing its
obligations; and (8) actuarial experience of the underlying re-insurance arrangement (where
applicable), which in certain circumstances may have preferential rights to the underlying
collateral.
The Company’s determination of whether an other-than-temporary impairment represents a credit loss
is based upon the difference between the present value of the expected cash flows to be collected
and the amortized cost basis of the security. Significant assumptions used in estimating the credit
loss include: (1) default rates for the security and the mono-line insurer, if any (which are based
on published historical default rates of similar securities and consideration of current market
trends); and (2) the expected life of the security (which represents the Company’s view of when
market efficiencies for securities may be restored). Adverse changes in any of these factors could
result in additional declines in fair value and further other-than-temporary impairments in the
future. There were no other-than-temporary impairments identified during the three months ended
January 31, 2011.
The following table presents the changes in the cost basis and fair value of the Company’s auction
rate securities for the three months ended January 31, 2011:
At January 31, 2011 and October 31, 2010, unrealized losses of $2.4 million ($1.5 million net
of taxes) and $3.1 million ($1.9 million net of taxes) were recorded in accumulated other
comprehensive loss, respectively.
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- Definition
This item represents the entire disclosure related to Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Common Share
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Jan. 31, 2011
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| Net Income per Common Share |
5. Net Income per Common Share
Basic net income per common share is net income divided by the weighted average number of shares
outstanding during the period. Diluted net income per common share is based on the weighted average
number of shares outstanding during the period, adjusted to include the assumed exercise and
conversion of certain stock options, restricted stock units, and performance shares. The
calculation of basic and diluted net income per common share is as follows:
The diluted net income per common share excludes certain stock options and restricted stock units
since the effect of including these stock options and restricted stock units would have been
anti-dilutive, as follows:
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- Definition
This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Self-Insurance
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3 Months Ended |
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Jan. 31, 2011
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| Self-Insurance [Abstract] | |
| Self-Insurance |
6. Self-Insurance
The Company’s self-insurance reserves during interim periods are based on actuarial rates that
consider the most recently completed actuarial reports and subsequent known or expected trends.
During the remainder of 2011, actuarial reports are expected to be completed for the Company’s
significant programs using recent claims data, and may result in adjustments to earnings during the
third and fourth quarters of 2011.
At January 31, 2011, the Company had $106.1 million in standby letters of credit (primarily related
to its workers’ compensation, general liability, automobile, and property damage programs), $36.2
million in restricted insurance deposits, and $188.8 million in surety bonds supporting insurance
claim liabilities. At October 31, 2010, the Company had $100.8 million in standby letters of
credit, $36.2 million in restricted insurance deposits, and $112.5 million in surety bonds
supporting insurance claim liabilities.
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- Definition
Describes the types of coverage's and products sold, and the assets, obligations, recorded liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Line of Credit Facility
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3 Months Ended |
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Jan. 31, 2011
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| Line of Credit Facility [Abstract] | |
| Line of Credit Facility |
7. Line of Credit Facility
On November 30, 2010, the Company terminated its then-existing $450.0 million syndicated line of
credit and replaced it with a $650.0 million five-year syndicated line of credit that is scheduled
to expire on November 30, 2015 (the “Facility”), with the option to increase the size of the
Facility to $850.0 million at any time prior to the expiration (subject to receipt of commitments
for the increased amount from existing and new lenders). The Facility is available for working
capital, the issuance of standby letters of credit, the financing of capital expenditures, and
other general corporate purposes, including acquisitions.
The Facility includes covenants limiting liens, dispositions, fundamental changes, investments,
indebtedness, and certain transactions and payments. In addition, the Facility also requires that
the Company maintain the following three financial covenants which are described in Note 16,
“Subsequent Events,” to the Consolidated Financial Statements set forth in the Company’s Annual
Report on Form 10-K for 2010: (1) a fixed charge coverage ratio; (2) a leverage ratio; and (3) a
consolidated net worth test. The Company was in compliance with all covenants as of January 31,
2011.
As of January 31, 2011, the total outstanding amount under the Facility in the form of cash
borrowings was $430.0 million. Available credit under the line of credit was up to $113.9 million
at January 31, 2011. The Company’s ability to draw down available amounts under its line of
credit is subject to compliance with the covenants described above.
Interest Rate Swaps
On February 19, 2009, the Company entered into a two-year interest rate swap agreement with an
underlying notional amount of $100.0 million, pursuant to which the Company receives variable
interest payments based on LIBOR and pays fixed interest at a rate of 1.47%.
On October 19, 2010, the Company entered into a three-year forward starting interest rate swap
agreement with an underlying notional amount of $25.0 million, pursuant to which the Company
receives variable interest payments based on LIBOR and pays fixed interest at a rate of 0.89%. The
effective date of this hedge is February 24, 2011.
These swaps are intended to hedge the interest risk associated with the Company’s forecasted
floating-rate, LIBOR-based debt. As of January 31, 2011, the critical terms of the swaps match the
terms of the debt, resulting in no hedge ineffectiveness. On an ongoing basis (no less than once
each quarter), the Company assesses whether its LIBOR-based interest payments are probable of being
paid during the life of the hedging relationship. The Company also assesses the counterparty credit
risk, including credit ratings and potential non-performance of the counterparties, when
determining the fair value of the swaps.
As of January 31, 2011, the fair value of the interest rate swaps was $0.2 million, which was
included in other investments and long-term receivables on the accompanying condensed consolidated
balance sheet. The effective portion of these cash flow hedges is recorded within accumulated other
comprehensive loss and reclassified into interest expense in the same period during which the
hedged transactions affect earnings. Any ineffective portion of the hedges is recorded immediately
to interest expense. No ineffectiveness existed at January 31, 2011. The amount included in
accumulated other comprehensive loss is $0.2 million ($0.1 million, net of taxes) at January 31,
2011.
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- Definition
This element may be used to capture the complete disclosure pertaining to short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Benefit Plans
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Jan. 31, 2011
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| Benefit Plans |
8. Benefit Plans
The components of net periodic benefit cost of the Company’s defined benefit plans and
post-retirement benefit plans, for participants associated with continuing operations, for the
three months ended January 31, 2011 and 2010, were as follows:
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- Details
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- Definition
Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Contingencies
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3 Months Ended |
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Jan. 31, 2011
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| Contingencies [Abstract] | |
| Contingencies |
9. Contingencies
The Company is a defendant in certain proceedings arising in the ordinary course of business,
including class actions and purported class actions. Litigation outcomes are often difficult to
predict and are often resolved over long periods of time. Estimating probable losses requires the
analysis of multiple possible outcomes that often depend on judgments about potential actions by
third parties. Loss contingencies are recorded as liabilities if both: (1) it is probable or known
that a liability has been incurred and (2) the amount of the loss is reasonably estimable. If the
reasonable estimate of the loss is a range and no amount within the range is a better estimate, the
minimum amount of the range is recorded as a liability. Legal costs associated with loss
contingencies are expensed as incurred.
The Company is a defendant in the consolidated cases of Augustus, Hall and Davis v. American
Commercial Security Services filed July 12, 2005, in the Superior Court of California, Los Angeles
County (the “Augustus case”). The Augustus case involves allegations that the Company violated
certain state laws relating to meal and rest breaks. On January 8, 2009, the Augustus case was
certified as a class action by the Superior Court of California, Los Angeles County. On October 6,
2010, the Company moved to decertify the class and for summary judgment. Plaintiffs also moved for
summary judgment on the rest break claim. On December 28, 2010, the Superior Court de-certified
the portion of the class related to the meal break claims and granted summary judgment for the
plaintiffs with respect to the rest break issue. On January 21, 2011, the Company filed a writ
challenging the Court’s decision, which writ was denied. No trial court date has been set. The
Company intends to challenge the Court’s decision. An estimate of the potential exposure, if any,
cannot be made at this time.
The Company is a defendant in the case of Villacres v. ABM Security filed on August 15, 2007, in
the U.S. District Court of California, Central District (the “Villacres case”). On January 15,
2009, a federal court judge denied with prejudice class certification status in the Villacres case.
That case and the companion state court case filed April 3, 2008, in Los Angeles Superior Court
were both subsequently dismissed with prejudice on summary judgment. On June 17, 2010, the United
States Court of Appeals for the Ninth Circuit affirmed the decision of the district court, which
had summarily dismissed with prejudice the Villacres case. The state court companion case, filed
April 3, 2008 in Los Angeles Superior Court, has also been dismissed with prejudice by the judge of
the Los Angeles Superior Court. On October 22, 2010, the State Appellate
Court affirmed the decision of the judge of the Los Angeles Superior Court. The plaintiffs filed a
petition for review with the California Supreme Court. On February 16, 2011, the California Supreme
Court denied the petition for review.
The Company is a defendant in the case of Diaz/Morales/Reyes v. Ampco System Parking filed on
December 5, 2006, in Los Angeles Superior Court (the “Diaz case”). On January 19, 2011, a
previously scheduled mediation between the parties took place, which concluded without the parties
reaching agreement. A trial date has not yet been set.
The Company accrues amounts it believes are adequate to address any liabilities related to
litigation and arbitration proceedings and to other contingencies that the Company believes will
result in a probable loss. However, the ultimate resolution of such matters is always uncertain. It
is possible that any such proceeding brought against the Company could have a material adverse
impact on its financial condition and results of operations. The total amount accrued for all
probable losses at January 31, 2011 was $6.4 million.
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- Definition
Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share-Based Compensation Plans
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Jan. 31, 2011
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10. Share-Based Compensation Plans
On January 10, 2011, the following grants were approved: 186,563 stock options and 58,043
restricted stock units, each under the terms of the Company’s 2006 Equity Incentive Plan, as
amended and restated. The fair value of the awards granted on January 10, 2011 was approximately
$3.0 million, and these awards vest 100% on the fifth anniversary of the grant date. The Company
estimates the fair value of stock options on the date of grant using the Black-Scholes option
valuation model. The fair value of stock options granted was $8.04 per share. The assumptions used
in the option valuation model for the stock options granted on January 10, 2011 were: (1) expected
life from date of grant of 5.6 years; (2) expected stock price volatility of 39.2%; (3) expected
dividend yield of 2.3%; and (4) a risk-free interest rate of 2.1%. The fair value of the restricted
stock units granted was determined using the closing stock price on the date of grant.
On January 11, 2011, grants of 299,628 performance share awards under the terms of the Company’s
2006 Equity Incentive Plan, as amended and restated, were approved. The fair value of the
performance share awards granted on January 11, 2011 and valued as of January 25, 2011 was
approximately $7.6 million. These awards are earned over a period of three years and vest, to the
extent certain performance targets are achieved, on January 11, 2014.
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Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Comprehensive Income
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Jan. 31, 2011
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| Comprehensive Income |
11. Comprehensive Income
The following table presents the components of comprehensive income for the three months ended
January 31, 2011 and 2010:
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- Definition
This label may include 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 and 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 and 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 and 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 or loss and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Jan. 31, 2011
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| Income Taxes [Abstract] | |
| Income Taxes |
12. Income Taxes
The effective tax rates on income from continuing operations for the three months ended January 31,
2011 and 2010 were 38.5% and 38.8%, respectively.
At January 31, 2011, the Company had unrecognized tax benefits of $101.8 million, all of which, if
recognized in the future, would affect its effective tax rate. The Company includes interest and
penalties related to unrecognized tax benefits in income tax expense. As of January 31, 2011, the
Company had accrued interest related to uncertain tax positions of $0.8 million. The Company has
recorded $1.2 million of the unrecognized tax benefits as a current liability.
The Company’s major tax jurisdiction is the United States. ABM, OneSource Services, Inc. and the
Linc C Corporations U.S. federal income tax returns remain open for examination for the periods
ending October 31, 2006 through October 31, 2010, March 31, 2000 through November 14, 2007 and
December 31, 2007 through December 31, 2010, respectively. ABM is currently being examined by the
Internal Revenue Service for the tax years 2006 — 2008. The Company does business in all 50
states, significantly in California, Texas and New York, as well as in Puerto Rico and Canada. In
major state jurisdictions, the tax years 2006 — 2010 remain open and subject to examination by the
appropriate tax authorities. The Company is currently being examined by Illinois, Maryland, Utah,
New Jersey, Massachusetts, New York, California, Texas, and Puerto Rico.
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- Definition
Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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Jan. 31, 2011
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| Segment Information |
13. Segment Information
The Company is organized into four reportable operating segments, Janitorial, Engineering, Parking
and Security, which are summarized as follows:
Effective November 1, 2010, the Company changed the management reporting responsibility for a
subsidiary from the Janitorial segment to the Engineering segment. Amounts for the three months
ended January 31, 2010 have been retrospectively adjusted to reflect this organizational change.
The impact of the organizational change on the reported results for the three months ended January
31, 2010 was a reclassification of $8.0 million of revenues and $0.3 million of operating profit
from the Janitorial segment to the Engineering segment.
Most Corporate expenses are not allocated. Such expenses include current actuarial developments of
self-insurance reserves relating to claims incurred in prior years, certain legal costs and
settlements, certain information technology costs, share-based compensation costs, direct
acquisition costs, severance costs associated with acquisitions, and certain chief executive
officer and other finance and human resource department costs.
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- Definition
This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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