Graco Inc.

    Print Page | Close Window

SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/17/2015
Entire Document
 << Previous Page | Next Page >>


Table of Contents

Contractor

The following table presents net sales, components of net sales change and operating earnings as a percentage of sales for the Contractor segment (dollars in millions):

 

  2014   2013   2012  

Sales

Americas

$ 265   $ 237   $ 194  

EMEA

  71     67     64  

Asia Pacific

  40     39     41  
  

 

 

    

 

 

    

 

 

 

Total

$ 376   $ 343   $ 299  
  

 

 

    

 

 

    

 

 

 

Components of Net Sales Change

Volume and Price

  10 %      14 %      4 %   

Currency

  -  %      1 %      (1)%   
  

 

 

    

 

 

    

 

 

 

Total

  10 %      15 %      3 %   
  

 

 

    

 

 

    

 

 

 

Operating Earnings as a Percentage of Sales

  22 %      21 %      18 %   
  

 

 

    

 

 

    

 

 

 

Sales in the Contractor segment increased 10 percent for the year, which included increases of 12 percent in the Americas, 5 percent in EMEA and 3 percent in Asia Pacific. The growth in the Contractor segment was led by the Americas, which continued to benefit from the recovery of the U.S. housing and construction markets.

Operating earnings as a percentage of sales were 22 percent, up 1 percentage point from 2013. Higher sales and the leverage on expenses drove improvements in operating earnings in the Contractor Segment.

In 2013, sales in the Contractor segment increased 15 percent as compared to 2012. By geography, sales increased by 22 percent in the Americas, increased 4 percent in Europe (2 percent at consistent translation rates) and decreased 4 percent in Asia Pacific.

Operating earnings as a percentage of sales were 21 percent in 2013 as compared to 18 percent in 2012. Higher sales and the leveraging of expenses drove the improvement of operating earnings as a percentage of sales.

In this segment, sales in all regions are significant and management reviews economic and financial indicators in each region, including levels of residential, commercial and institutional construction, remodeling rates and interest rates. Management also reviews gross domestic product for the regions and the level of the U.S. dollar versus the euro and other currencies.

Lubrication

The following table presents net sales, components of net sales change and operating earnings as a percentage of sales for the Lubrication segment (dollars in millions):

 

  2014   2013   2012  

Sales

Americas

$ 92   $ 82   $ 81  

EMEA

  10     10     9  

Asia Pacific

  16     17     20  
  

 

 

    

 

 

    

 

 

 

Total

$ 118   $ 109   $ 110  
  

 

 

    

 

 

    

 

 

 

Components of Net Sales Change

Volume and Price

  9 %      -  %      8 %   

Currency

  (1)%      (1)%      (1)%   
  

 

 

    

 

 

    

 

 

 

Total

  8 %      (1)%      7 %   
  

 

 

    

 

 

    

 

 

 

Operating Earnings as a Percentage of Sales

  22 %      21 %      20 %   
  

 

 

    

 

 

    

 

 

 

 

22

 << Previous Page | Next Page >>