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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GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share amounts)
 
 
Years Ended
 
December 25,
2015
 
December 26,
2014
 
December 27,
2013
Net Sales
$
1,286,485

 
$
1,221,130

 
$
1,104,024

Cost of products sold
601,785

 
554,394

 
496,569

Gross Profit
684,700

 
666,736

 
607,455

Product development
58,559

 
54,246

 
51,428

Selling, marketing and distribution
201,855

 
194,751

 
177,853

General and administrative
122,161

 
108,814

 
98,405

Operating Earnings
302,125

 
308,925

 
279,769

Interest expense
17,643

 
18,733

 
18,147

Held separate investment (income), net
(191,635
)
 
(25,951
)
 
(26,458
)
Other expense (income), net
1,404

 
1,070

 
(742
)
Earnings Before Income Taxes
474,713

 
315,073

 
288,822

Income taxes
129,000

 
89,500

 
78,000

Net Earnings
$
345,713

 
$
225,573

 
$
210,822

Basic Net Earnings per Common Share
$
6.00

 
$
3.75

 
$
3.44

Diluted Net Earnings per Common Share
$
5.86

 
$
3.65

 
$
3.36

Cash Dividends Declared per Common Share
$
1.23

 
$
1.13

 
$
1.03

See notes to consolidated financial statements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
 
Years Ended
 
December 25,
2015
 
December 26,
2014
 
December 27,
2013
Net Earnings
$
345,713

 
$
225,573

 
$
210,822

Components of other comprehensive income (loss)
 
 
 
 
 
Cumulative translation adjustment
(10,423
)
 
(27,935
)
 
7,812

Pension and postretirement medical liability adjustment
10,372

 
(39,164
)
 
46,955

Income taxes - pension and postretirement medical liability
(3,710
)
 
12,712

 
(17,371
)
Other comprehensive income (loss)
(3,761
)
 
(54,387
)
 
37,396

Comprehensive Income
$
341,952

 
$
171,186

 
$
248,218

See notes to consolidated financial statements.

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