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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Amounts recognized in other comprehensive (income) loss in 2014 and 2013 were as follows (in thousands):

 

  Pension Benefits   Postretirement Medical Benefits  
  2014   2013   2014   2013  

Net loss (gain) arising during the period

$ 42,733   $ (37,284 $ 1,037   $ (2,582

Prior service cost (credit) arising during the period

  -     3,197     -     -   

Amortization of net gain (loss)

  (4,929   (10,456   (15   (480

Amortization of prior service credit (cost)

  (320   (8   658     658  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

$ 37,484   $ (44,551 $ 1,680   $ (2,404
  

 

 

   

 

 

   

 

 

   

 

 

 

Amounts included in accumulated other comprehensive (income) loss as of December 26, 2014 and December 27, 2013, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands):

 

  Pension Benefits   Postretirement Medical Benefits  
  2014   2013   2014   2013  

Prior service cost (credit)

$ 2,658   $ 3,271   $ (1,786 $ (2,444

Net loss

  111,298     73,200     4,347     3,325  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net before income taxes

  113,956     76,471     2,561     881  

Income taxes

  (39,011   (26,903   (922   (317
  

 

 

   

 

 

   

 

 

   

 

 

 

Net

$ 74,945   $ 49,568   $ 1,639   $ 564  
  

 

 

   

 

 

   

 

 

   

 

 

 

Amounts included in accumulated other comprehensive (income) loss that are expected to be recognized as components of net periodic benefit cost in 2015 were as follows (in thousands):

 

  Pension
Benefits
  Postretirement
Medical
Benefits
 

Prior service cost (credit)

$ 295   $ (676

Net loss (gain)

  8,922     271  
  

 

 

    

 

 

 

Net before income taxes

  9,217     (405

Income taxes

  (3,318   146  
  

 

 

    

 

 

 

Net

$ 5,899   $ (259
  

 

 

    

 

 

 

Assumptions used to determine the Company’s benefit obligations are shown below:

 

  Pension Benefits   Postretirement Medical Benefits  

Weighted average assumptions

    2014           2013           2014       2013  

U.S. Plans

Discount rate

  4.2   5.0   4.2   5.0 

Rate of compensation increase

  3.0   3.0   N/A      N/A   

Non-U.S. Plans

Discount rate

  1.5   2.5   N/A      N/A   

Rate of compensation increase

  1.3   1.3   N/A      N/A   

 

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