Graco Inc.

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SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/17/2015
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GRACO INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands except per share amounts)

 

  Years Ended  
  December 26,
2014
  December 27,
2013
  December 28,
2012
 

Net Sales

$ 1,221,130   $ 1,104,024   $ 1,012,456  

Cost of products sold

  554,394     496,569     461,926  
  

 

 

   

 

 

   

 

 

 

Gross Profit

  666,736     607,455     550,530  

Product development

  54,246     51,428     48,921  

Selling, marketing and distribution

  194,751     177,853     163,523  

General and administrative

  108,814     98,405     113,409  
  

 

 

   

 

 

   

 

 

 

Operating Earnings

  308,925     279,769     224,677  

Interest expense

  18,733     18,147     19,273  

Other expense (income), net

  (24,881   (27,200   (11,922
  

 

 

   

 

 

   

 

 

 

Earnings Before Income Taxes

  315,073     288,822     217,326  

Income taxes

  89,500     78,000     68,200  
  

 

 

   

 

 

   

 

 

 

Net Earnings

$ 225,573   $ 210,822   $ 149,126  
  

 

 

   

 

 

   

 

 

 

Basic Net Earnings per Common Share

$ 3.75   $ 3.44   $ 2.47  

Diluted Net Earnings per Common Share

$ 3.65   $ 3.36   $ 2.42  

Cash Dividends Declared per Common Share

$ 1.13   $ 1.03   $ 0.93  

See notes to consolidated financial statements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

 

  Years Ended  
  December 26,
2014
  December 27,
2013
  December 28,
2012
 

Net Earnings

$ 225,573   $ 210,822   $ 149,126  

Other comprehensive income (loss)

Cumulative translation adjustment

  (27,935   7,812     (3,206

Pension and postretirement medical liability adjustment

  (39,164   46,955     (6,171

Income taxes

Pension and postretirement medical liability adjustment

  12,712     (17,371   2,113  
  

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

  (54,387   37,396     (7,264
  

 

 

   

 

 

   

 

 

 

Comprehensive Income

$ 171,186   $ 248,218   $ 141,862  
  

 

 

   

 

 

   

 

 

 

See notes to consolidated financial statements.

 

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