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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Amounts recognized in other comprehensive (income) loss in 2015 and 2014 were as follows (in thousands):
 
Pension Benefits
 
Postretirement Medical Benefits
 
2015
 
2014
 
2015
 
2014
Net loss (gain) arising during the period
$
(833
)
 
$
42,733

 
$
14

 
$
1,037

Prior service cost (credit) arising during the period
(179
)
 

 

 

Amortization of net gain (loss)
(9,459
)
 
(4,929
)
 
(323
)
 
(15
)
Amortization of prior service credit (cost)
(268
)
 
(320
)
 
676

 
658

Total
$
(10,739
)
 
$
37,484

 
$
367

 
$
1,680


Amounts included in accumulated other comprehensive (income) loss as of December 25, 2015 and December 26, 2014, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands):
 
Pension Benefits
 
Postretirement Medical Benefits
 
2015
 
2014
 
2015
 
2014
Prior service cost (credit)
$
2,232

 
$
2,658

 
$
(1,110
)
 
$
(1,786
)
Net loss
100,985

 
111,298

 
4,038

 
4,347

Net before income taxes
103,217

 
113,956

 
2,928

 
2,561

Income taxes
(35,169
)
 
(39,011
)
 
(1,054
)
 
(922
)
Net
$
68,048

 
$
74,945

 
$
1,874

 
$
1,639


Amounts included in accumulated other comprehensive (income) loss that are expected to be recognized as components of net periodic benefit cost in 2016 were as follows (in thousands): 
 
Pension
Benefits
 
Postretirement
Medical
Benefits
Prior service cost (credit)
$
269

 
$
(766
)
Net loss (gain)
7,354

 
216

Net before income taxes
7,623

 
(550
)
Income taxes
(2,744
)
 
198

Net
$
4,879

 
$
(352
)

Assumptions used to determine the Company’s benefit obligations are shown below:
 
 
Pension Benefits
 
Postretirement Medical Benefits
Weighted average assumptions
 
2015
 
2014
 
2015
 
2014
U.S. Plans
 
 
 
 
 
 
 
 
Discount rate
 
4.7
%
 
4.2
%
 
4.7
%
 
4.2
%
Rate of compensation increase
 
3.0
%
 
3.0
%
 
N/A

 
N/A

Non-U.S. Plans
 
 
 
 
 
 
 
 
Discount rate
 
1.1
%
 
1.5
%
 
N/A

 
N/A

Rate of compensation increase
 
1.3
%
 
1.3
%
 
N/A

 
N/A



50

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