Graco Inc.

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SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/16/2016
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Issuer Purchases of Equity Securities

On September 14, 2012, the Board of Directors authorized the Company to purchase up to 6,000,000 shares of its outstanding common stock, primarily through open-market transactions. This authorization expired on September 30, 2015. On April 24, 2015, the Board of Directors authorized the purchase of up to an additional 6,000,000 shares over an indefinite period of time or until terminated by the Board.

In addition to shares purchased under the Board authorization, the Company purchases shares of common stock held by employees who wish to tender owned shares to satisfy the exercise price or tax withholding on stock option exercises.

Information on issuer purchases of equity securities follows:
Period
 
Total
Number
of Shares
Purchased
 
Average
Price
Paid per
Share
 
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
 
Maximum Number
of Shares that May
Yet Be Purchased
Under the Plans
or Programs
(at end of period)
September 26, 2015 - October 23, 2015
 
422,440

 
$
67.28

 
422,440

 
4,729,579

October 24, 2015 - November 20, 2015
 

 
$

 

 
4,729,579

November 21, 2015 - December 25, 2015
 
150,155

 
$
69.29

 
150,155

 
4,579,424


Item 6. Selected Financial Data

Graco Inc. and Subsidiaries (in thousands, except per share amounts)
 
 
2015
 
2014
 
2013
 
2012
 
2011
Net sales
$
1,286,485

 
$
1,221,130

 
$
1,104,024

 
$
1,012,456

 
$
895,283

Net earnings
345,713

 
225,573

 
210,822

 
149,126

 
142,328

Per common share
 
 
 
 
 
 
 
 
 
Basic net earnings
$
6.00

 
$
3.75

 
$
3.44

 
$
2.47

 
$
2.36

Diluted net earnings
5.86

 
3.65

 
3.36

 
2.42

 
2.32

Cash dividends declared
1.23

 
1.13

 
1.03

 
0.93

 
0.86

Total assets
$
1,391,352

 
$
1,544,778

 
$
1,327,228

 
$
1,321,734

 
$
874,309

Long-term debt (including current portion)
392,695

 
615,000

 
408,370

 
556,480

 
300,000


Net sales in 2012 included $93 million from Powder Finishing operations acquired in April 2012. The Company used long-term borrowings and available cash balances to complete the $668 million purchase of Powder Finishing and Liquid Finishing businesses in 2012.

Net earnings in 2015 include $141 million from the sale of the Liquid Finishing businesses acquired in 2012 and held as a cost-method investment. Proceeds from the sale were principally used to retire debt.

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