<SEC-DOCUMENT>0001193125-21-037340.txt : 20210211
<SEC-HEADER>0001193125-21-037340.hdr.sgml : 20210211
<ACCEPTANCE-DATETIME>20210211073033
ACCESSION NUMBER:		0001193125-21-037340
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20210211
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210211
DATE AS OF CHANGE:		20210211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WATSCO INC
		CENTRAL INDEX KEY:			0000105016
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES [5070]
		IRS NUMBER:				590778222
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05581
		FILM NUMBER:		21616715

	BUSINESS ADDRESS:	
		STREET 1:		2665 S BAYSHORE DR
		STREET 2:		STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
		BUSINESS PHONE:		305-714-4100

	MAIL ADDRESS:	
		STREET 1:		2665 SOUTH BAYSHORE DR, STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d11046d8k.htm
<DESCRIPTION>8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" ?>
<html xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:us-types="http://fasb.org/us-types/2019-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:wso="http://www.watsco.com/20210211" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:sic="http://xbrl.sec.gov/sic/2011-01-31" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31" xmlns="http://www.w3.org/1999/xhtml">
<head>
<title>8-K</title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
   <body>
 <div style="display:none"> <ix:header> <ix:hidden> <ix:nonNumeric id="Hidden_dei_EntityRegistrantName" name="dei:EntityRegistrantName" contextRef="duration_2021-02-11_to_2021-02-11">WATSCO INC</ix:nonNumeric> <ix:nonNumeric name="dei:AmendmentFlag" contextRef="duration_2021-02-11_to_2021-02-11">false</ix:nonNumeric> <ix:nonNumeric id="Hidden_dei_EntityCentralIndexKey" name="dei:EntityCentralIndexKey" contextRef="duration_2021-02-11_to_2021-02-11">0000105016</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:type="simple" xlink:href="wso-20210211.xsd" xlink:arcrole="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase"></link:schemaRef> </ix:references> <ix:resources> <xbrli:context id="duration_2021-02-11_to_2021-02-11"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0000105016</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2021-02-11</xbrli:startDate> <xbrli:endDate>2021-02-11</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:context id="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0000105016</xbrli:identifier> <xbrli:segment> <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2021-02-11</xbrli:startDate> <xbrli:endDate>2021-02-11</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:context id="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0000105016</xbrli:identifier> <xbrli:segment> <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2021-02-11</xbrli:startDate> <xbrli:endDate>2021-02-11</xbrli:endDate> </xbrli:period> </xbrli:context> </ix:resources> </ix:header> </div> <div style="text-align:center"> <div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto"> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p> <p style="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">UNITED STATES</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">SECURITIES AND EXCHANGE COMMISSION</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Washington, D.C. 20549</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">FORM <ix:nonNumeric name="dei:DocumentType" contextRef="duration_2021-02-11_to_2021-02-11">8-K</ix:nonNumeric></p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">CURRENT REPORT</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Pursuant to Section 13 or 15(d)</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">of the Securities Exchange Act of 1934</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Date of Report (Date of earliest event reported) <ix:nonNumeric name="dei:DocumentPeriodEndDate" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt:datemonthdayyearen">February<span style="text-decoration:underline"></span>&#160;11, 2021</ix:nonNumeric></p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <p style="margin-top:0pt;margin-bottom:0pt;text-align:center">
<img src="g11046g0211050026721.jpg" alt="LOGO" /></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman;font-weight:bold;text-align:center"> <span style=" -sec-ix-hidden:Hidden_dei_EntityRegistrantName">WATSCO, INC.</span> </p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Exact name of registrant as specified in its charter)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:stateprovnameen">Florida</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(State or other jurisdiction of incorporation)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:50%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:48%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityFileNumber" contextRef="duration_2021-02-11_to_2021-02-11">1-5581</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="duration_2021-02-11_to_2021-02-11">59-0778222</ix:nonNumeric></span></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(Commission File Number)</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(IRS Employer Identification No.)</span></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressAddressLine1" contextRef="duration_2021-02-11_to_2021-02-11">2665 South Bayshore Drive</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressAddressLine2" contextRef="duration_2021-02-11_to_2021-02-11">Suite 901</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressCityOrTown" contextRef="duration_2021-02-11_to_2021-02-11">Miami</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:stateprovnameen">Florida</ix:nonNumeric> <ix:nonNumeric name="dei:EntityAddressPostalZipCode" contextRef="duration_2021-02-11_to_2021-02-11">33133</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Address of principal executive offices, including zip code)</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:CityAreaCode" contextRef="duration_2021-02-11_to_2021-02-11">(305)</ix:nonNumeric> <ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="duration_2021-02-11_to_2021-02-11">714-4100</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Registrant&#8217;s telephone number, including area code)</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">N/A</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Former name or former address, if changed since last report)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:WrittenCommunications" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:SolicitingMaterial" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementTenderOffer" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b))</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">Securities registered pursuant to Section 12(b) of the Act:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:34%"></td>
<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Title of each class</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Symbols</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of each exchange</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">on which registered</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:Security12bTitle" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">Common stock, $0.50 par value</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">WSO</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></span></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:Security12bTitle" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">Class&#160;B common stock, $0.50 par value</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">WSOB</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></span></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&#160;&#160;<ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="duration_2021-02-11_to_2021-02-11" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;&#9744;</p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p></div></div>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />


<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">

<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;2.02.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Results of Operations and Financial Condition </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&#160;11, 2021, Watsco, Inc., a Florida corporation (the &#8220;Company&#8221;), issued a press release reporting its financial results for the quarter and year ended December&#160;31, 2020. A copy of the Company&#8217;s press release is furnished as Exhibit 99.1 to this Current Report on Form <span style="white-space:nowrap">8-K</span> and is hereby incorporated by reference in this Item 2.02. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;7.01.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Regulation FD Disclosure </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth in Item 2.02 of this Current Report on Form <span style="white-space:nowrap">8-K</span> is incorporated by reference in this Item 7.01. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&#160;11, 2021, the Company issued a press release announcing a 10% increase in its annual dividend rate to $7.80 per share on each outstanding share of its Common and Class&#160;B common stock. A copy of the Company&#8217;s press release is attached hereto as Exhibit 99.2 and is hereby incorporated by reference in this Item 7.01. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information contained in this Current Report on Form <span style="white-space:nowrap">8-K,</span> including Exhibit 99.1 and Exhibit 99.2 attached hereto, shall be deemed &#8220;furnished&#8221; and not deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933, as amended. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;9.01.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td></td>

<td style="vertical-align:bottom;width:5%"></td>
<td style="width:92%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br />Number</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Description</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d11046dex991.htm">Press release dated February&#160;11, 2021 issued by Watsco, Inc. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.2</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d11046dex992.htm">Press release dated February&#160;11, 2021 issued by Watsco, Inc. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Date File (embedded within the Inline XBRL document)</td></tr>
</table>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />


<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">SIGNATURES </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0">


<tr>

<td style="width:45%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:4%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:3%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:45%"></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top" colspan="3"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">WATSCO,&#160;INC.</p></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">Dated: February&#160;11, 2021</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ana&#160;M.&#160;Menendez</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Ana M. Menendez,</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Chief&#160;Financial&#160;Officer</td></tr>
</table>
</div></div>

</body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d11046dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Watsco&#146;s Fourth Quarter EPS Jumps 24%, Setting New Records </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>for Sales, Operating Profit, Net Income and Cash Flow </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Annual
Records Achieved for EPS, Sales, Profitability and Cash Flow </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10% Dividend Raise to $7.80 Following Record Performance </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MIAMI, FLORIDA &#150; (GLOBENEWSWIRE) February&nbsp;11, 2021 &#150; Watsco, Inc. (NYSE: WSO) reported record fourth quarter results. Watsco set new annual
records for earnings per share (EPS), sales, operating income, net income and operating cash flow. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco also announced that its Board of Directors
approved a 10% increase in its annual dividend to $7.80 per share to be reflected in the Company&#146;s next regular quarterly payment in&nbsp;April 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco&#146;s entrepreneurial culture, which empowers leaders to think and act locally, proved critically important in responding to changing market
conditions during 2020. The Company&#146;s technology platforms supported customers and facilitated higher levels of engagement and connectivity, which led to more customer acquisition and market share gains. In addition, Watsco&#146;s
internally-focused technology platforms, designed to promote operational excellence in each of the Company&#146;s 600 locations, yielded efficiencies and contributed to the Company&#146;s record cash flow. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Albert H. Nahmad, Watsco&#146;s Chairman and CEO commented: &#147;We are excited to deliver another record year, especially given the unique business
challenges faced in 2020. Our core&nbsp;U.S.&nbsp;residential business remained solid, generating 17% growth during the quarter and reflecting the continued trend towards higher-efficiency systems. We express our gratitude to our more than 5,700
employees for their extraordinary efforts during this challenging year. We are optimistic and look forward to another strong year in 2021.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Fourth Quarter Results </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Key performance metrics:
</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">24% EPS growth to $1.14 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">23% increase in net income attributable to Watsco to a record $46&nbsp;million </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">8% sales growth to a record $1.15&nbsp;billion (7% increase on a same-store basis) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">34% increase in operating profit to a record $70&nbsp;million with 110 basis-point operating margin expansion
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">8% gross profit increase to a record $282&nbsp;million with 10 basis-point increase in gross margin
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">2% increase in SG&amp;A expenses (110 basis-point improvement as a percentage of sales) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">17% increase in operating cash flow to a record $162&nbsp;million </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Sales Trends (excluding acquisitions): </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">9% increase in HVAC equipment (67% of sales), including 13% overall growth in U.S. markets and 17% growth in U.S.
residential equipment </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">7% increase in other HVAC products (30% of sales) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">2% increase in commercial refrigeration products (3% of sales) </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Nahmad added: &#147;Looking to the long-term, we believe there is opportunity to be a significant participant and contributor in efforts to address
climate change. The sale of higher-efficiency products has long been a fundamental opportunity given the size and age of the installed base of HVAC systems in the U.S., many of which are operating under old efficiency standards that result in higher
energy use and costs to homeowners. We have a role to play in educating contractors and consumers on the benefits of higher-efficiency systems that both reduce energy costs and contribute to a healthier climate. Watsco plans to actively collaborate
with its OEM partners and key stakeholders to lead these ongoing efforts in its marketplace.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is important to note that the fourth quarter of each calendar year is highly seasonal due to the nature
and timing of the replacement of HVAC systems, which is strongest in the second and third quarters. Accordingly, the Company&#146;s fourth quarter financial results are disproportionately affected by seasonality. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Full-Year Results </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Key performance metrics: </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">8% EPS growth to a record $7.01 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">10% increase in net income attributable to Watsco to a record $270&nbsp;million </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">6% sales growth to a record $5.05&nbsp;billion (2% increase on a same-store basis) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">9% operating profit growth to a record $401&nbsp;million (7% on a same-store basis) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">20 basis-point operating margin expansion to 7.9% (40 basis-point increase on a same-store basis to 8.1%)
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">6% increase in gross profit to a record $1.22&nbsp;billion (10 basis-point decline in gross margins)
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">4% increase in SG&amp;A expenses, including new locations and acquisitions </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">1% decrease in same-store SG&amp;A expenses and a 50 basis-point improvement as a percentage of sales
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">59% increase in operating cash flow to a record $534&nbsp;million or 165% of net income </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Sales trends (excluding acquisitions): </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">4% growth in HVAC equipment (69% of sales), including 7% growth in U.S. markets and 10% growth in U.S.
residential equipment </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Flat sales of other HVAC products (28% of sales) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">4% decrease in commercial refrigeration products (3% of sales) </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Nahmad further commented: &#147;Our performance in 2020 resulted in record cash flow and debt-reduction. As a result, we are pleased to raise our
dividend 10% to $7.80 per share effective April 2021. Watsco&nbsp;is debt-free and capable of investing in almost <FONT STYLE="white-space:nowrap">any-sized</FONT> opportunity to grow our network and leadership position in the estimated&nbsp;$40
billion&nbsp;North American HVAC distribution industry.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Technology Innovation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco continues to aggressively invest in technologies to transform its customer-experience. These investments make it easier for HVAC contractors to do
business with Watsco and, in turn, improve the speed, efficiency and growth opportunities for our customers. More recent platforms have also been established to help customers develop and grow their business involving one of the most important
consumer purchases in the home. Specific technology-related achievements in 2020 include: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Product Information Management (PIM)</I> is the industry&#146;s leading repository of product information
delivered seamlessly in digital form through Watsco&#146;s mobile apps and <FONT STYLE="white-space:nowrap">e-commerce</FONT> platform to HVAC contractors in the field. Watsco has digitized product information for approximately 875,000 SKUs, an
increase of 20% over 2019, which are accessed by more than 300,000 contractors and technicians. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Contractor Assist mobile apps</I><B> </B>provide customers in the field with real-time access to critical
information to make technicians more efficient, including technical support, product detail and inventory information, warranty <FONT STYLE="white-space:nowrap">look-up,</FONT> the ability to purchase product and much more. The user community of
Watsco&#146;s innovative mobile apps grew to over 120,000 in 2020. The number of <I>average weekly users</I> grew 27% during 2020. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I><FONT STYLE="white-space:nowrap">E-Commerce</FONT> sales</I> continued to grow as more customers transacted
online. In 2020, Watsco&#146;s <FONT STYLE="white-space:nowrap">e-commerce</FONT> sales exceeded $1.5&nbsp;billion with 20% growth in customers transacting through its <FONT STYLE="white-space:nowrap">e-commerce</FONT> platform. <FONT
STYLE="white-space:nowrap">E-commerce</FONT> revenues increased to 33% of sales versus 31% in 2019. Additional <FONT STYLE="white-space:nowrap">e-commerce</FONT> highlights include: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><FONT STYLE="white-space:nowrap">E-Commerce</FONT> Metrics</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">2020 vs. 2019</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-commerce</FONT> Sales</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">10% increase to $1.53&nbsp;billion</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-commerce</FONT> Customer Growth</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">20% increase to over 16,000 customers</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-commerce</FONT> super-users (&gt;70% use)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">26% increase to over 2,400 customers</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-commerce</FONT> Order Growth</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">20% increase to over 1.2&nbsp;million transactions</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-commerce</FONT> Line Items per Order</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">27% higher than traditional orders</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attrition rate for <FONT STYLE="white-space:nowrap">e-commerce</FONT> users</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">69% less attrition than <FONT STYLE="white-space:nowrap">non-users</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>OnCall</I><I> Air</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I>,</I> Watsco&#146;s
digital sales platform for use by HVAC/R contractors, and <I>CreditForComfort</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I>,</I> its companion consumer financing platform, both continue to see increased penetration as our
customers digitally engage with homeowners. In 2020, OnCall Air<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> presented quotes to approximately 109,000 households, a 78% increase over the prior year, and generated nearly
$350&nbsp;million in gross merchandise value, an 89% increase over 2019. <I>CreditForComfort</I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> processed more than 5,000 financing applications in 2020, an increase of 137% over the prior
year, and grew the dollar value of loans by more than 180%. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Investments in Watsco&#146;s <I>proprietary</I> <I>warehouse technology </I>that delivers speed, convenience and
order accuracy have resulted in faster, better and more accurate servicing of customers. Express <FONT STYLE="white-space:nowrap">Pick-up</FONT> allows contractors to streamline the traditional fulfillment of orders, enabling quicker service. In
response to the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic, Watsco also launched curbside <FONT STYLE="white-space:nowrap">pick-up</FONT> and touchless payment capabilities to facilitate contactless order fulfillment. More tools were
developed to optimize demand planning and inventory levels. Taken as a whole, these investments enhance the customer experience, streamline branch operations and benefit same-store productivity. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Warehouse Efficiency&nbsp;&amp; Supply Chain</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">2020 vs. 2019</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Locations with Order Fulfillment (OF) software</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">More than 550 or 92% of total branches</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Locations with Express <FONT STYLE="white-space:nowrap">Pick-up</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">452 locations, up 24% over last year</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Express <FONT STYLE="white-space:nowrap">Pick-Up</FONT> Orders Fulfilled</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">More than 250,000 orders, up 47% from 2019</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Curbside Orders Fulfilled (introduced in 2020)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">More than 22,000 orders since July&nbsp;1, 2020</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AJ Nahmad, Watsco&#146;s President, commented: &#147;2020 marked further progress toward our long-term goal of scaling
Watsco&#146;s technologies for HVAC/R contractors. As more and more customers adapt to operating in the digital age, we believe that Watsco has the industry&#146;s most sophisticated tools to help customers grow and operate with speed. Even more
exciting is the progress we are seeing with newer platforms like OnCall Air and CreditForComfort, which make it possible for contractors to win more frequently with homeowners. Our horizon remains long-term, and we have merely scratched the surface
of what is possible.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Balance Sheet, Cash Flow&nbsp;&amp; Dividends </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco&#146;s long-standing goal is to maintain a conservative balance sheet to allow investment in new growth opportunities whenever they arise. During 2020,
Watsco generated record cash flow and finished the year debt-free. The Company maintains a $560&nbsp;million revolving credit facility. Watsco believes its conservative financial position and access to
<FONT STYLE="white-space:nowrap">low-cost</FONT> capital provide confidence to its customers, employees and OEM partners. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Operating cash flow for the
year increased 59% to a record $534&nbsp;million. Since 2000, Watsco&#146;s cumulative operating cash flow was $3.2&nbsp;billion compared to net income of $2.9&nbsp;billion, surpassing the Company&#146;s goal of generating cash flow in excess of net
income. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco has paid cash dividends for 47 consecutive years with the philosophy of sharing increasing amounts of cash flow with shareholders through
dividends over time, while maintaining a conservative financial position with </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">flexibility to invest in future growth. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In February 2021, Watsco&#146;s Board authorized a 10% increase in Watsco&#146;s annual dividend to $7.80
per share effective at its next scheduled payment date on April&nbsp;30, 2021. Future dividend increases will be considered in light of investment opportunities, cash flow, general economic conditions and the Company&#146;s financial condition. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Fourth Quarter Earnings Conference Call Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;11, 2021 at 10:00 a.m. (ET) </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Webcast:
<U>http://investors.watsco.com</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Dial-in</FONT> number: United States (844)
<FONT STYLE="white-space:nowrap">883-3908</FONT> / International (412) <FONT STYLE="white-space:nowrap">317-9254</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A replay of the conference call
will be available on the Company&#146;s website. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Use of <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In this release, the Company discloses <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures on a &#147;same-store basis&#148;, which exclude the effects
of locations closed, acquired, or locations opened, in each case during the immediately preceding 12 months, unless such locations are within close geographical proximity to existing locations. The Company believes that this information provides
greater comparability regarding its ongoing operating performance. These measures should not be considered an alternative to measurements required by U.S. GAAP. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Watsco </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco&nbsp;is the largest distribution
network for heating, air conditioning and refrigeration (HVAC/R) products with locations in&nbsp;the United States,&nbsp;Canada,&nbsp;Mexico&nbsp;and&nbsp;Puerto Rico, and on an export basis to&nbsp;Latin America&nbsp;and the&nbsp;Caribbean.
Watsco&nbsp;estimates that over 300,000 contractors and technicians visit or call one of its 600 locations each year to get information, obtain technical support and buy products. HVAC/R products provide comfort to homes and businesses regardless of
the outdoor climate. Older systems often operate below today&#146;s government mandated energy efficiency and environmental standards.&nbsp;Watsco&nbsp;has an opportunity to accelerate the replacement of these systems at a scale greater than its
competitors as the movement toward reducing energy consumption and its environmental impact continues. This is especially important as these systems accounts for approximately half of the energy consumed in a typical home. Additional information
about&nbsp;Watsco&nbsp;may be found at&nbsp;<U>http://www.watsco.com</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This document includes certain &#147;forward-looking statements&#148; within
the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These
forward-looking statements are distinguished by use of words such as &#147;will,&#148; &#147;would,&#148; &#147;anticipate,&#148; &#147;expect,&#148; &#147;believe,&#148; &#147;designed,&#148; &#147;plan,&#148; or &#147;intend,&#148; the negative of
these terms, and similar references to future periods. These statements are based on management&#146;s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due
to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of
supplier concentration, competitive conditions within Watsco&#146;s industry, seasonal nature of sales of Watsco&#146;s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Detailed
information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form <FONT STYLE="white-space:nowrap">10-K,</FONT> Form <FONT
STYLE="white-space:nowrap">10-Q</FONT> and Form <FONT STYLE="white-space:nowrap">8-K.</FONT> Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect
actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WATSCO, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Condensed Consolidated Results of Operations </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(In thousands, except per share data) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Unaudited) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center">Quarter Ended December&nbsp;31,</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center">Year Ended December&nbsp;31,</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 1,154,716</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 1,072,315</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 5,054,928</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 4,770,362</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">872,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">811,794</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3,832,107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3,613,406</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">282,244</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">260,521</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,222,821</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,156,956</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit margin</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24.4</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24.3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24.3</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SG&amp;A expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">214,575</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">210,805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">833,051</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">800,328</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,092</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11,264</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10,256</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">69,761</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52,033</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">401,034</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">366,884</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating margin</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7.9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">610</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,239</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4,032</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income before income taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">69,703</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51,423</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">399,795</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">362,852</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13,226</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7,017</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76,623</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">67,077</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">56,477</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44,406</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">323,172</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">295,775</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less: net income attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT>
interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10,467</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7,128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">53,593</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49,825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income attributable to Watsco</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 46,010</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 37,278</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 269,579</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 245,950</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted earnings per share:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income attributable to Watsco shareholders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 46,010</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 37,278</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 269,579</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 245,950</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less: distributed and undistributed earnings allocated to
<FONT STYLE="white-space:nowrap">non-vested</FONT> restricted common stock (1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5,869</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5,058</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23,140</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20,411</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Earnings allocated to Watsco shareholders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 40,141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 32,220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 246,439</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 225,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted-average Common and Class&nbsp;B common shares and equivalent shares used to calculate
diluted earnings per share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35,274,252</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34,989,956</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35,150,571</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34,675,641</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted earnings per share for Common and Class&nbsp;B common stock (1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7.01</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">These amounts include the dilutive impact attributable to the excess of dividends paid on restricted shares
over the net income allocated to <FONT STYLE="white-space:nowrap">non-vested</FONT> restricted common stock. Such excess amounts were $1.9&nbsp;million in the fourth quarter of 2020 (5 cents per share) and $2.0&nbsp;million in the fourth quarter of
2019 (6 cents per share). The Company expects this dilutive impact to be seasonal during the first and fourth quarters of each year due to EPS in such periods generally being less than the quarterly dividend rate. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WATSCO, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Condensed Consolidated Balance Sheets </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Unaudited, in thousands) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center">December&nbsp;31,</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center">December&nbsp;31,</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 146,067</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 74,454</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">535,288</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">533,810</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">793,869</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">920,786</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">21,791</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17,680</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,497,015</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,546,730</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Property and equipment, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98,225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98,523</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">209,169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">223,369</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill, intangibles, net and other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">692,508</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">687,539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,496,917</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,556,161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts payable and accrued expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 427,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 392,296</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current portion of long-term obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">71,804</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">69,421</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">499,715</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">461,717</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings under revolving credit agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">155,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease liabilities, net of current portion</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">139,527</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">154,271</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income taxes and other liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77,914</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">69,706</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">717,156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">841,394</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Watsco&#146;s shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,486,678</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,435,427</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">293,083</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">279,340</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,779,761</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,714,767</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total liabilities and shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,496,917</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,556,161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WATSCO, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Condensed Consolidated Statements of Cash Flows </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Unaudited, in thousands) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center">Year Ended December&nbsp;31,</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash flows from operating activities:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 323,172</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 295,775</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-cash</FONT> items</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44,061</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40,203</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in working capital, net of effects of acquisitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">167,146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(207</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by operating activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">534,379</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">335,771</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash flows from investing activities:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital expenditures, net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(16,342</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(16,425</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Business acquisitions, net of cash acquired</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(59,672</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investment in unconsolidated entity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(4,940</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash used in investing activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(16,342</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(81,037</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash flows from financing activities:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividends on Common and Class&nbsp;B Common stock</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(265,713</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(241,412</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net (repayments) proceeds under revolving credit agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(155,700</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(42,401</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(39,272</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds from <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17,988</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of additional ownership interest from NCI</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(32,400</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">15,321</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10,573</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash used in financing activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(448,493</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(264,023</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of foreign exchange rate changes on cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,069</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">849</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net increase (decrease) in cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">71,613</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(8,440</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents at beginning of year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">74,454</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">82,894</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents at end of year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 146,067</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"> 74,454</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>d11046dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Watsco Boosts Annual Dividend 10% to $7.80 Per Share </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MIAMI,&nbsp;FLORIDA &#151;
February&nbsp;11, 2021&nbsp;(GLOBE NEWSWIRE) &#151;&nbsp;Watsco, Inc.&nbsp;(NYSE:WSO) announced today that its Board of Directors has approved a 10% increase in its annual dividend to&nbsp;$7.80&nbsp;per share on each outstanding share of its Common
and Class&nbsp;B common stock. The increase will be reflected in the Company&#146;s next regular dividend payment beginning in&nbsp;April 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Albert H.
Nahmad, Watsco&#146;s Chairman&nbsp;&amp; CEO stated: &#147;We are pleased to increase dividends to our shareholders, which reflects our confidence in the business and is supported by our strong cash flow and balance sheet.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco&nbsp;has paid dividends to shareholders for 47 consecutive years. The Company&#146;s philosophy is to share increasing amounts of cash flow through
higher dividends while maintaining a conservative balance sheet with continued capacity to build its distribution network. Future changes in dividends are considered in light of investment opportunities, cash flow, general economic conditions and
Watsco&#146;s overall financial condition. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Watsco </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Watsco&nbsp;is the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in&nbsp;the United
States,&nbsp;Canada,&nbsp;Mexico&nbsp;and&nbsp;Puerto Rico, and on an export basis to&nbsp;Latin America&nbsp;and the&nbsp;Caribbean. Watsco&nbsp;estimates that over 300,000 contractors and technicians visit or call one of its 600 locations each
year to get information, obtain technical support and buy products. HVAC/R products provide comfort to homes and businesses regardless of the outdoor climate. Older systems often operate below today&#146;s government mandated energy efficiency and
environmental standards.&nbsp;Watsco&nbsp;has an opportunity to accelerate the replacement of these systems at a scale greater than its competitors as the movement toward reducing energy consumption and its environmental impact continues. This is
especially important since heating and cooling accounts for approximately half of the energy consumed in a typical U.S. home. Additional information about&nbsp;Watsco&nbsp;may be found at&nbsp;http://www.watsco.com. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This document includes certain &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as
&#147;will,&#148; &#147;would,&#148; &#147;anticipate,&#148; &#147;expect,&#148; &#147;believe,&#148; &#147;designed,&#148; &#147;plan,&#148; or &#147;intend,&#148; the negative of these terms, and similar references to future periods. These
statements are based on management&#146;s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new
housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within
Watsco&#146;s industry, seasonal nature of sales of Watsco&#146;s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Detailed information about these factors and additional important
factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form <FONT STYLE="white-space:nowrap">10-K,</FONT> Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and Form
<FONT STYLE="white-space:nowrap">8-K.</FONT> Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information, except as required by applicable law. </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>wso-20210211.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release 2020-7 Build:20201110.1 -->
<!-- Creation date: 2/11/2021 4:45:49 PM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema
  xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric"
  xmlns:num="http://www.xbrl.org/dtr/type/numeric"
  xmlns:us-types="http://fasb.org/us-types/2019-01-31"
  xmlns:wso="http://www.watsco.com/20210211"
  xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31"
  xmlns:xbrli="http://www.xbrl.org/2003/instance"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
  xmlns:sic="http://xbrl.sec.gov/sic/2011-01-31"
  xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31"
  attributeFormDefault="unqualified"
  elementFormDefault="qualified"
  targetNamespace="http://www.watsco.com/20210211"
  xmlns:xsd="http://www.w3.org/2001/XMLSchema">
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance" />
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/linkbase" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd" namespace="http://xbrl.sec.gov/dei/2019-01-31" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/numeric" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/non-numeric" />
    <xsd:import schemaLocation="http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd" namespace="http://xbrl.sec.gov/sic/2011-01-31" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" namespace="http://xbrl.sec.gov/naics/2017-01-31" />
    <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt" />
    <xsd:import schemaLocation="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd" namespace="http://fasb.org/us-gaap/2019-01-31" />
    <xsd:import schemaLocation="http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd" namespace="http://fasb.org/us-types/2019-01-31" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="wso-20210211_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label Links, all" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="wso-20210211_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:title="Presentation Links, all" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="wso-20210211_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:title="Definition Links, all" xlink:type="simple" />
      <link:roleType roleURI="http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation" id="Role_DocumentDocumentAndEntityInformation">
        <link:definition>100000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:element id="wso_DocumentAndEntityInformationTable" name="DocumentAndEntityInformationTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="wso_DocumentAndEntityInformationLineItems" name="DocumentAndEntityInformationLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>5
<FILENAME>wso-20210211_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release 2020-7 Build:20201110.1 -->
<!-- Creation date: 2/11/2021 4:45:52 PM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
  <link:roleRef roleURI="http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="wso-20210211.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:definitionLink xlink:type="extended" xlink:role="http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationTable" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationTable" />
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationLineItems" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationLineItems" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:type="locator" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:type="locator" xlink:label="us-gaap_ClassOfStockDomain" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:type="locator" xlink:label="us-gaap_ClassOfStockDomain_2" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockMember" xlink:type="locator" xlink:label="us-gaap_CommonStockMember" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonClassBMember" xlink:type="locator" xlink:label="us-gaap_CommonClassBMember" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="wso_DocumentAndEntityInformationTable" order="1" priority="2" use="optional" xbrldt:contextElement="segment" xbrldt:closed="true" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="wso_DocumentAndEntityInformationTable" xlink:to="us-gaap_StatementClassOfStockAxis" order="1" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain" order="23" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain_2" order="23.0001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_CommonStockMember" order="24" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_CommonClassBMember" order="25" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityRegistrantName" order="27.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_AmendmentFlag" order="28.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityCentralIndexKey" order="29.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_DocumentType" order="34.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" order="35.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityIncorporationStateCountryCode" order="36.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityFileNumber" order="37.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityTaxIdentificationNumber" order="38.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressAddressLine1" order="39.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressAddressLine2" order="40.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressCityOrTown" order="41.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressStateOrProvince" order="42.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressPostalZipCode" order="43.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_CityAreaCode" order="44.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_LocalPhoneNumber" order="45.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_WrittenCommunications" order="46.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_SolicitingMaterial" order="47.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_PreCommencementTenderOffer" order="48.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_PreCommencementIssuerTenderOffer" order="49.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_Security12bTitle" order="50.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_TradingSymbol" order="51.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_SecurityExchangeName" order="52.001" priority="2" use="optional" />
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityEmergingGrowthCompany" order="53.001" priority="2" use="optional" />
  </link:definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>wso-20210211_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release 2020-7 Build:20201110.1 -->
<!-- Creation date: 2/11/2021 4:45:49 PM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cover [Abstract]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line Two</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line Two</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationTable" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="wso_DocumentAndEntityInformationTable" xlink:to="wso_DocumentAndEntityInformationTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="wso_DocumentAndEntityInformationTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Table]</link:label>
    <link:label xml:lang="en-US" xlink:label="wso_DocumentAndEntityInformationTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document And Entity Information [Table]</link:label>
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationLineItems" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="wso_DocumentAndEntityInformationLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="wso_DocumentAndEntityInformationLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:label="wso_DocumentAndEntityInformationLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document And Entity Information [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:type="locator" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Axis]</link:label>
    <link:label xml:lang="en-US" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Class of Stock [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:type="locator" xlink:label="us-gaap_ClassOfStockDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl" />
    <link:label xml:lang="en-US" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Domain]</link:label>
    <link:label xml:lang="en-US" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Class of Stock [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockMember" xlink:type="locator" xlink:label="us-gaap_CommonStockMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="us-gaap_CommonStockMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="us-gaap_CommonStockMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonClassBMember" xlink:type="locator" xlink:label="us-gaap_CommonClassBMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonClassBMember" xlink:to="us-gaap_CommonClassBMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="us-gaap_CommonClassBMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Common Class B [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="us-gaap_CommonClassBMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common Class B [Member]</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>wso-20210211_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release 2020-7 Build:20201110.1 -->
<!-- Creation date: 2/11/2021 4:45:50 PM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="wso-20210211.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationTable" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationTable" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="wso_DocumentAndEntityInformationTable" order="21" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="wso-20210211.xsd#wso_DocumentAndEntityInformationLineItems" xlink:type="locator" xlink:label="wso_DocumentAndEntityInformationLineItems" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationTable" xlink:to="wso_DocumentAndEntityInformationLineItems" order="22" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:type="locator" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationTable" xlink:to="us-gaap_StatementClassOfStockAxis" order="1" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:type="locator" xlink:label="us-gaap_ClassOfStockDomain" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_ClassOfStockDomain" order="23" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockMember" xlink:type="locator" xlink:label="us-gaap_CommonStockMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_CommonStockMember" order="24" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonClassBMember" xlink:type="locator" xlink:label="us-gaap_CommonClassBMember" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_CommonClassBMember" order="25" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityRegistrantName" order="27.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_AmendmentFlag" order="28.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityCentralIndexKey" order="29.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_DocumentType" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityIncorporationStateCountryCode" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityFileNumber" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityTaxIdentificationNumber" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressAddressLine1" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressAddressLine2" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressCityOrTown" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressStateOrProvince" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityAddressPostalZipCode" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_CityAreaCode" order="44.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_LocalPhoneNumber" order="45.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_WrittenCommunications" order="46.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_SolicitingMaterial" order="47.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_PreCommencementTenderOffer" order="48.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_PreCommencementIssuerTenderOffer" order="49.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_Security12bTitle" order="50.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_TradingSymbol" order="51.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_SecurityExchangeName" order="52.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="wso_DocumentAndEntityInformationLineItems" xlink:to="dei_EntityEmergingGrowthCompany" order="53.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>g11046g0211050026721.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g11046g0211050026721.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  G *X# 2(  A$! Q$!_\0
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HI0L0/UQD_D17J5A86FEV,-E8VZ6]K"NV.*,8"BBBHE.4MV-14=C_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>d11046d8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="wso-20210211.xsd" xlink:type="simple"/>
    <context id="duration_2021-02-11_to_2021-02-11">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000105016</identifier>
        </entity>
        <period>
            <startDate>2021-02-11</startDate>
            <endDate>2021-02-11</endDate>
        </period>
    </context>
    <context id="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000105016</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-02-11</startDate>
            <endDate>2021-02-11</endDate>
        </period>
    </context>
    <context id="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000105016</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2021-02-11</startDate>
            <endDate>2021-02-11</endDate>
        </period>
    </context>
    <dei:EntityRegistrantName
      contextRef="duration_2021-02-11_to_2021-02-11"
      id="Hidden_dei_EntityRegistrantName">WATSCO INC</dei:EntityRegistrantName>
    <dei:AmendmentFlag contextRef="duration_2021-02-11_to_2021-02-11">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey
      contextRef="duration_2021-02-11_to_2021-02-11"
      id="Hidden_dei_EntityCentralIndexKey">0000105016</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="duration_2021-02-11_to_2021-02-11">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="duration_2021-02-11_to_2021-02-11">2021-02-11</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="duration_2021-02-11_to_2021-02-11">FL</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="duration_2021-02-11_to_2021-02-11">1-5581</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="duration_2021-02-11_to_2021-02-11">59-0778222</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="duration_2021-02-11_to_2021-02-11">2665 South Bayshore Drive</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="duration_2021-02-11_to_2021-02-11">Suite 901</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown contextRef="duration_2021-02-11_to_2021-02-11">Miami</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="duration_2021-02-11_to_2021-02-11">FL</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="duration_2021-02-11_to_2021-02-11">33133</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="duration_2021-02-11_to_2021-02-11">(305)</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="duration_2021-02-11_to_2021-02-11">714-4100</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="duration_2021-02-11_to_2021-02-11">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="duration_2021-02-11_to_2021-02-11">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="duration_2021-02-11_to_2021-02-11">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="duration_2021-02-11_to_2021-02-11">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">Common stock, $0.50 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">WSO</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonStockMember">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">Class&#160;B common stock, $0.50 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">WSOB</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="duration_2021-02-11_to_2021-02-11_us-gaap-StatementClassOfStockAxis_us-gaap-CommonClassBMember">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="duration_2021-02-11_to_2021-02-11">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.4</span><table class="report" border="0" cellspacing="2" id="idm140530921213464">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Feb. 11, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_wso_DocumentAndEntityInformationLineItems', window );"><strong>Document And Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">WATSCO INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000105016<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb. 11,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">FL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-5581<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">59-0778222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">2665 South Bayshore Drive<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 901<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Miami<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">FL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">33133<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(305)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">714-4100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_wso_DocumentAndEntityInformationLineItems', window );"><strong>Document And Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Common stock, $0.50 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">WSO<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember', window );">Common Class B [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_wso_DocumentAndEntityInformationLineItems', window );"><strong>Document And Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Class&#160;B common stock, $0.50 par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">WSOB<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_wso_DocumentAndEntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">wso_DocumentAndEntityInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>wso_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>11
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M^KZ^AH8/$L];,J=[_!EJ,:@W6]5C6)>E:H\_A?<HN9\;[O\2Q0]02P,$%
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M>FR-9V87YTC'?8Q']>5=2(6NF9MYEJ6R!F_236P@R*2*Y U+2X<L-03&IAJ
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M4')O<',O8V]R92YX;6Q02P$"% ,4    " #0.TM2F5R<(Q &  "<)P  $P
M            @ ', 0  >&PO=&AE;64O=&AE;64Q+GAM;%!+ 0(4 Q0    (
M - [2U(8;X LJ 0  % 4   8              " @0T(  !X;"]W;W)K<VAE
M971S+W-H965T,2YX;6Q02P$"% ,4    " #0.TM2@ZFE ]0!   R!@  #0
M            @ 'K#   >&PO<W1Y;&5S+GAM;%!+ 0(4 Q0    ( - [2U*7
MBKL<P    !,"   +              "  >H.  !?<F5L<R\N<F5L<U!+ 0(4
M Q0    ( - [2U(<.&7J/P$  #P"   /              "  =,/  !X;"]W
M;W)K8F]O:RYX;6Q02P$"% ,4    " #0.TM2)!Z;HJT   #X 0  &@
M        @ $_$0  >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"% ,4
M    " #0.TM299!YDAD!  #/ P  $P              @ $D$@  6T-O;G1E
C;G1?5'EP97-=+GAM;%!+!08     "0 ) #X"  !N$P     !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.4</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>3</ContextCount>
  <ElementCount>95</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>2</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>0</UnitCount>
  <MyReports>
    <Report instance="d11046d8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>100000 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" original="d11046d8k.htm">d11046d8k.htm</File>
    <File>d11046dex991.htm</File>
    <File>d11046dex992.htm</File>
    <File>wso-20210211.xsd</File>
    <File>wso-20210211_def.xml</File>
    <File>wso-20210211_lab.xml</File>
    <File>wso-20210211_pre.xml</File>
  </InputFiles>
  <SupplementalFiles>
    <File>g11046g0211050026721.jpg</File>
  </SupplementalFiles>
  <BaseTaxonomies>
    <BaseTaxonomy>http://fasb.org/us-gaap/2019-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2019-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>17
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "d11046d8k.htm": {
   "axisCustom": 0,
   "axisStandard": 1,
   "contextCount": 3,
   "dts": {
    "definitionLink": {
     "local": [
      "wso-20210211_def.xml"
     ],
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml",
      "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml"
     ]
    },
    "inline": {
     "local": [
      "d11046d8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "wso-20210211_lab.xml"
     ],
     "remote": [
      "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "wso-20210211_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "wso-20210211.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd",
      "https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd",
      "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 30,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2019-01-31": 3,
    "total": 3
   },
   "keyCustom": 0,
   "keyStandard": 95,
   "memberCustom": 0,
   "memberStandard": 2,
   "nsprefix": "wso",
   "nsuri": "http://www.watsco.com/20210211",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d11046d8k.htm",
      "contextRef": "duration_2021-02-11_to_2021-02-11",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "100000 - Document - Document and Entity Information",
     "role": "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation",
     "shortName": "Document and Entity Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d11046d8k.htm",
      "contextRef": "duration_2021-02-11_to_2021-02-11",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 2,
   "tag": {
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag",
        "terseLabel": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code",
        "terseLabel": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]",
        "terseLabel": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "xbrltype": "stringItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.",
        "label": "Document Period End Date",
        "terseLabel": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type",
        "terseLabel": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One",
        "terseLabel": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine2": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 2 such as Street or Suite number",
        "label": "Entity Address, Address Line Two",
        "terseLabel": "Entity Address, Address Line Two"
       }
      }
     },
     "localname": "EntityAddressAddressLine2",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town",
        "terseLabel": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code",
        "terseLabel": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province",
        "terseLabel": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key",
        "terseLabel": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company",
        "terseLabel": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number",
        "terseLabel": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation State Country Code",
        "terseLabel": "Entity Incorporation State Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name",
        "terseLabel": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number",
        "terseLabel": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number",
        "terseLabel": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre Commencement Issuer Tender Offer",
        "terseLabel": "Pre Commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre Commencement Tender Offer",
        "terseLabel": "Pre Commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Security 12b Title",
        "terseLabel": "Security 12b Title"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name",
        "terseLabel": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material",
        "terseLabel": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol",
        "terseLabel": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications",
        "terseLabel": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "us-gaap_ClassOfStockDomain": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Class of Stock [Domain]",
        "terseLabel": "Class of Stock [Domain]"
       }
      }
     },
     "localname": "ClassOfStockDomain",
     "nsuri": "http://fasb.org/us-gaap/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommonClassBMember": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common Class B [Member]",
        "terseLabel": "Common Class B [Member]"
       }
      }
     },
     "localname": "CommonClassBMember",
     "nsuri": "http://fasb.org/us-gaap/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommonStockMember": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common Stock [Member]",
        "terseLabel": "Common Stock [Member]"
       }
      }
     },
     "localname": "CommonStockMember",
     "nsuri": "http://fasb.org/us-gaap/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_StatementClassOfStockAxis": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Class of Stock [Axis]",
        "terseLabel": "Class of Stock [Axis]"
       }
      }
     },
     "localname": "StatementClassOfStockAxis",
     "nsuri": "http://fasb.org/us-gaap/2019-01-31",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stringItemType"
    },
    "wso_DocumentAndEntityInformationLineItems": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document And Entity Information [Line Items]",
        "terseLabel": "Document And Entity Information [Line Items]"
       }
      }
     },
     "localname": "DocumentAndEntityInformationLineItems",
     "nsuri": "http://www.watsco.com/20210211",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stringItemType"
    },
    "wso_DocumentAndEntityInformationTable": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document And Entity Information [Table]",
        "terseLabel": "Document And Entity Information [Table]"
       }
      }
     },
     "localname": "DocumentAndEntityInformationTable",
     "nsuri": "http://www.watsco.com/20210211",
     "presentation": [
      "http://www.watsco.com//20210211/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stringItemType"
    }
   },
   "unitCount": 0
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r5": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r6": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>18
<FILENAME>0001193125-21-037340-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-21-037340-xbrl.zip
M4$L#!!0    ( - [2U("LDT?8Q   *IP   -    9#$Q,#0V9#AK+FAT;>U=
M:W/BN-+^OE7['U3LF5-)50RVR94DG,J0S!QJ)Y>";,V^[Y<I80O0CK&]DIW
M_OK3+=G&YA8@D,PE4[L)1K=6Z^E6=ZOEG/UG./#( Q.2!_YYR2J;)<)\)W"Y
MWSLOQ5'7."Z1_]1__>6L'T%%J.S+FLOX>:D?16&M4AEVA%>6S"GW@H<*%%1L
MTSHQ3,NH6J6D>BR-:!0RF;7I4MDI!Z)724MF-/(#WX\'69/'Q\>R&@J;N9&H
M8+L*5#*@%A/<2=L-/>Y_+31[K*I&ULG)2465IE6G:F8#V*99K6!QATJ65G^4
M0;%?&DDG*#O! .K;%OR7$3^4?!8)T*U5^?/Z4]OILP$UN"\CZCO9 '$DYI)S
M4H'2M"*7P;YM'2V@/:F1-1C.JVM!71]FROY\W_HTKA[-KC^N6HD$]64W$ ,:
M 7*PIP/#M W[,->) ;@H=)3BY*E^CG- D-R9#38HP.I6$3=8A2_BS 33L=2=
M@'-2^;"B"W,X[E$:SH0Q%DRC>#X.49I*2JP8=?%WQ"./U8^-W\\J^B-\-V 1
M)=B#P?Z.^<-YJ1'X$?,CXQ[ 7R*.?CHO16P8552/I(+M*DFGA)"S3N".\..9
MRQ^(C$8>.R^Y7(8>':&,L5*=G/%A#5LPD7SFKLM\_1FJW&@!(]P]+_U7%7T!
M.?]RY0.=HQ;K<8EK&-W0 =#DPT\8@/':[')%\S!JL2[4BH5:]"\H/@@>R_H2
M!;FG4OWSQ7V[<4N:-XVS2H&:*>K& U\,F._"_]$'C_96'K%+/<F>&FPF*QHP
MI*!>TW?9\'<VFN;%5(4523/AGV4>F-;A-'V5B743K,L$*'(FX1DU64TJI0-C
M$:4$:ZA STN2#T(/A4%]UQ=("B@Z(]5HY:%TTU(J'!$@?I96F5M0QO6S2G$Z
MR>0+$U;/,HB%?E0ZH99P6RW>$MQ.FS&U=MDC=_&++F>"*!+83 77:/Y>7*_)
MQDCUS/Y#6-# S1Y!68GHDD:L/J8M;3DN&]/JSJF;EF3#9N-4"MQ9CUM?$@UH
MM",8!&6OX5$I;[OM*'"^7@RYS&HT@L$@\-7WUVS08>(%.)VPB_60LN39A?&&
MH<<='FDZB,NA6)M!";&UN=,IU=,J4_,YJ\SL?LSI,1T_,P)4\?L?" +Y"?T
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MN6I%,_P-"5M!PD9D%[1+Z^KFGK2N[FY;]Z^O2^YB(6-PBTD4D#9S$&S$JI)
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M OF!KT'',+F'YIH7H^E$_N$AS-UE"\)&KZ];$,(7L!6MM50[5?-@=WF0? I
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MY>H' J:VT%O]?@W^F2;^Q,65S'Y?Q>A?_(JIE7I<E#N_>=(."O[(M,WW0GO
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MN DYD!+WAX3:]NX'_.E>OIH,51*U8@!3[28(9>L5U8^EYP[8(%"M2%3=!$*
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M0U(?L09VBT,5GZ%52=E:+\?9B(3Z%0@!U<'.2/FM+6(.%BC2/=H//HF8S)N
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M=N^&:9FQXMM(A2XSF!@U[$P/M\@^#:KT$C;QX8K'FVWLT*L5(CB;)#328L_
M[R!I..0M9\]OH)N=SCC%UV:;\2Y^G/7YA-/<:M*JC-%E(K5X$OS>D]XE=DDZ
MR08ME=<&3M)//(GO22?(;T""OBN7<@U;*,(<2C\[<W0<),$[N]0<^ZV!@F+
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M:VQTU!4^C-^CE; QUNE "1IM'I,%/=":8[03+N HI$R,$ZAN!*$;_8IT=@0
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M?(FQ# --#@\P=C4&A??5X6"P6"SZBV#;!X3]?[Z1!@0SD]8A-0!,U1DL4N@
M%4H</! 2I6Q7&?,0ACI2%=K@FGY/2M1,$24JGFP:"*^M?"0VW:+OVM!4V 7^
M-X\(W0A"BTW20*_AAP]O0T=V8GOKK^]D!"#/,HL2ZU$OIMM\$>@'2ZS1L +-
MBN/BN@$%0:L:/<4S#JB5;Z0FL%V%VL)@VA#1,>1(6+4,$75/;?8V[K+O>$M]
MEQH EFN)#A_&J=H%_4(CR&C0PG#&P>*(-DV\O0;89L74*MM< K]1^!5NV5R/
M#FZN05*D>'QFB"SC"U@\.Q;EKML5E$9<Q-R"":)=)J2TF,?)924*J/[2Q9[A
M)*@&_47[PJ2!$@Q#5!Y'$\ O3>96:7X&5!(F6S #Y.3S\*)50?#'$D=CA'PU
M>(1]KD[^P"I=1%\_@;Q^&6M^/0RETH+HI(HIJ0=H5W=H0+3*9 ZG&6F!C7*2
M6U,V,6[<G-6";NN<W@Y&O54WZ*UTD+!"J3X(WP-X"PR)IG8-46Q#0;)5(IQ.
M@U<E@X17(GY(D?OX2A*VG:4P4J OA:[6")1=6]-YF4@\4TB\PGGQRPAZ'$&)
M]9+'7MMKZCY,(E3*-#FA5TG?=,V@A0 FC3,O]4PP*DPL]!%M>>O&.MC.<!C%
MX?E\*'56(X1ECSE,U:$>-0\4H1O05,)5FWO:7AP]XHE4U+8:I6FF>$H*$M5V
MD'4J)#"R8<Q.PVPZ1\%+]Q"Q)Y%0[--D<@UE^:..PS H<BK )!6D_YFN-YS(
M.^,*[[2!M@E!R!J+%*UQ)?N-6+;"VPQ#S;2:2XH^3'=DU)%.NF7Z%#D7OJ:E
M<P'Z1D+8&<GIZ.SJ\F[U5Z\"D^"N0^<4A]HL+*]VQL.]W5][HP&9C?_^EM_:
M'>0%[4)C^M&V@]U?^YV+_DHCP5O^@+)'O?'5V)2U4TC'< %%02%EHATJHU@#
M&HWOWD2UC85TH H'/%?F;B)AU7P38R+H:D&O6]?==F#L]E;GU489,1Y*A"[Y
MSJ4]L#,5E:= K?AO+6WL")QJ*N6)HL^&Q:KS#TYG7_#I<M+^K8S1&OWI$XOA
M+Z;_!U!+ P04    " #0.TM2,+M+RH<*   ."P  &    &<Q,3 T-F<P,C$Q
M,#4P,#(V-S(Q+FIP9YW5:3S4[1H'\/\TPPR&R3)APF0)$8E)MF9"LB7&TEBR
MI3(U5(0D2YDD5"K/(!XF:[8A9<E6=O'HT5C#8P]#9,8ZQC)'YW.6-^?%.>=W
MO[RNSWW?W\_UXN)^XXX#^RW.FI\%0" 0X+%W .XP8 S >'FAO#PP*!3*QP?C
MAXL)P@4$X)(BH@@Q:11:1AHE)75(05WID-Q1>2DIY9-'CFH<QV P:"7=4SJ:
M!NI:&,U?EX#X^/C@ G )04$)35DI6<W_.=QZ0!@&* '%8) <L$\8!!8&<9L!
M- " >$!_#_"/@/:!(3R\4!@?O\!>0_E^8!\(#-X' ?/P0"![U;"].@ 1YA&1
M/6[(*XKWA,KYB6D^>)$!DS<J;4#:TID*6I?\(_GX#XA+2*(.*RHI'U'!G- ^
MJ:.K9WS&Y*RIF;F%G;W#!8*CD[/7Y2M7O8G7KM\." RZ$WPWA/PPZE'TXYC8
MEPF_41*3DE^E9&9EY^2^R<LO>/>^K+RB\D-5=6-3<TMKV^?VCNZ>WK[^@6^#
M0Q.34]^G9V89<_.LY975M?4-]B;GEPL$@$'_S']T">^Y]D$@8 CTEPNT[\ZO
M!F$(C^QQ7A%#/-333U1.\P%,S.A%1FD#G[R6+1-YR9_.?T !,W&8]8OV=]E_
M!XO\OV3_@OW;-03 P:"]X8&% 1RPP5&EL,F%I!!$5$Y?@$Y&HN55A)Y%SJ?
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M2+^>*;0 K1JBBA+;$]C<"*6@N";(\-_D&Z JP4V$-=E8HZ$QP %<;!I@T-0
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MS0\6-V?,B_GYG2[Y&U!+ 0(4 Q0    ( - [2U("LDT?8Q   *IP   -
M          "  0    !D,3$P-#9D.&LN:'1M4$L! A0#%     @ T#M+4A?P
M%; O+   5=4! !               ( !CA   &0Q,3 T-F1E>#DY,2YH=&U0
M2P$"% ,4    " #0.TM2<.[RH>$(   X%0  $               @ 'K/
M9#$Q,#0V9&5X.3DR+FAT;5!+ 0(4 Q0    ( - [2U(PNTO*APH   X+   8
M              "  ?I%  !G,3$P-#9G,#(Q,3 U,# R-C<R,2YJ<&=02P$"
M% ,4    " #0.TM2LG#ED@D$   _$   $               @ &W4   =W-O
M+3(P,C$P,C$Q+GAS9%!+ 0(4 Q0    ( - [2U*9E%LRS04  "TV   4
M          "  >Y4  !W<V\M,C R,3 R,3%?9&5F+GAM;%!+ 0(4 Q0    (
M - [2U(Z#%XRU <  &U9   4              "  >U:  !W<V\M,C R,3 R
M,3%?;&%B+GAM;%!+ 0(4 Q0    ( - [2U)HWO;7?P4  /<Y   4
M      "  ?-B  !W<V\M,C R,3 R,3%?<')E+GAM;%!+!08     "  (  $"
(  "D:      !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
