Graco Inc.

    Print Page | Close Window

SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/16/2016
Entire Document
 << Previous Page | Next Page >>

Annual maturities of debt are as follows (in thousands):
 
2016
 
$
15,901

2017
 

2018
 
75,000

2019
 
92,695

2020
 
75,000

Thereafter
 
150,000


Interest paid on debt was $17.5 million in 2015, $18.6 million in 2014 and $18.3 million in 2013.

G. Shareholders’ Equity

At December 25, 2015, the Company had 22,549 authorized, but not issued, cumulative preferred shares, $100 par value. The Company also has authorized, but not issued, a separate class of 3 million shares of preferred stock, $1 par value.

Changes in components of accumulated other comprehensive income (loss), net of tax were (in thousands):
 
Pension
and Post-
retirement
Medical
 
Cumulative
Translation
Adjustment
 
Total
Balance, December 28, 2012
$
(79,716
)
 
$
(4,029
)
 
$
(83,745
)
Other comprehensive income (loss)
before reclassifications
23,103

 
7,812

 
30,915

Amounts reclassified from accumulated
other comprehensive income
6,481

 

 
6,481

Balance, December 27, 2013
(50,132
)
 
3,783

 
(46,349
)
Other comprehensive income (loss)
before reclassifications
(29,563
)
 
(27,935
)
 
(57,498
)
Amounts reclassified from accumulated
other comprehensive income
3,111

 

 
3,111

Balance, December 26, 2014
(76,584
)
 
(24,152
)
 
(100,736
)
Other comprehensive income (loss)
before reclassifications
641

 
(10,423
)
 
(9,782
)
Amounts reclassified from accumulated
other comprehensive income
6,021

 

 
6,021

Balance, December 25, 2015
$
(69,922
)
 
$
(34,575
)
 
$
(104,497
)

Amounts related to pension and postretirement medical adjustments are reclassified to pension cost, which is allocated to cost of products sold and operating expenses based on salaries and wages, approximately as follows (in thousands):
 
2015
 
2014
 
2013
Cost of products sold
$
3,370

 
$
1,701

 
$
3,635

Product development
1,352

 
714

 
1,699

Selling, marketing and distribution
3,109

 
1,371

 
2,828

General and administrative
1,543

 
820

 
2,124

Total before tax
$
9,374

 
$
4,606

 
$
10,286

Income tax (benefit)
(3,353
)
 
(1,495
)
 
(3,805
)
Total after tax
$
6,021

 
$
3,111

 
$
6,481



44

 << Previous Page | Next Page >>