Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 58,073	$ 80,496
Accounts receivable, net	486,651	478,133
Inventories	810,021	761,314
Other current assets	16,979	17,454
Total current assets	1,371,724	1,337,397
Property and equipment, net	90,238	91,198
Goodwill	381,553	382,729
Intangible assets, net	156,530	161,065
Other assets	76,233	74,488
Total assets	2,076,278	2,046,877
Current liabilities:
Current portion of other long-term obligations	236	244
Accounts payable	245,405	230,476
Accrued expenses and other current liabilities	132,090	185,757
Total current liabilities	377,731	416,477
Long-term obligations:
Borrowings under revolving credit agreement	91,000	21,800
Other long-term obligations, net of current portion	233	285
Total long-term obligations	91,233	22,085
Deferred income taxes and other liabilities	57,688	57,338
Commitments and contingencies
Watsco, Inc. shareholders' equity:
Preferred stock, $0.50 par value	0	0
Paid-in capital	814,711	804,008
Accumulated other comprehensive loss, net of tax	(37,569)	(34,221)
Retained earnings	581,893	594,556
Treasury stock, at cost	(87,440)	(87,440)
Total Watsco, Inc. shareholders' equity	1,292,714	1,297,953
Non-controlling interest	256,912	253,024
Total shareholders' equity	1,549,626	1,550,977
Total liabilities and shareholders' equity	2,076,278	2,046,877
Common Stock
Watsco, Inc. shareholders' equity:
Common stock, $0.50 par value	18,438	18,412
Class B Common Stock
Watsco, Inc. shareholders' equity:
Common stock, $0.50 par value	$ 2,681	$ 2,638

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).

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Balance Type:	credit
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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.