Graco Inc.

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SEC Filings

8-K
GRACO INC filed this Form 8-K on 01/30/2017
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Page 8 GRACO


GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands)
 
Year Ended
 
Dec 30,
2016
 
Dec 25,
2015
Cash Flows From Operating Activities
 
 
 
Net Earnings
$
40,674

 
$
345,713

Adjustments to reconcile net earnings to net cash
provided by operating activities
 
 
 
Impairment
192,020

 

Depreciation and amortization
48,290

 
44,607

Deferred income taxes
(35,561
)
 
(11,585
)
Share-based compensation
21,134

 
19,224

Excess tax benefit related to share-based payment arrangements
(6,913
)
 
(1,775
)
(Gain) loss on sale of business

 
(149,894
)
Change in
 
 
 
Accounts receivable
4,506

 
(18,276
)
Inventories
(693
)
 
(34,109
)
Trade accounts payable
553

 
4,305

Salaries and incentives
(6,809
)
 
(1,385
)
Retirement benefits and deferred compensation
10,995

 
11,870

Other accrued liabilities
3,298

 
1,645

Other
(2,401
)
 
(20,701
)
Net cash provided by operating activities
269,093

 
189,639

Cash Flows From Investing Activities
 
 
 
Property, plant and equipment additions
(42,113
)
 
(41,749
)
Acquisition of businesses, net of cash acquired
(48,946
)
 
(189,017
)
Proceeds from sale of assets

 
610,162

Change in restricted assets
288

 
(9,518
)
Other
(164
)
 
61

Net cash provided by (used in) investing activities
(90,935
)
 
369,939

Cash Flows From Financing Activities
 
 
 
Borrowings (payments) on short-term lines of credit, net
(5,995
)
 
11,216

Borrowings on long-term line of credit
648,134

 
720,605

Payments on long-term line of credit
(735,144
)
 
(942,910
)
Payments of debt issuance costs
(860
)
 

Excess tax benefit related to share-based payment arrangements
6,913

 
1,775

Common stock issued
32,631

 
18,835

Common stock repurchased
(50,497
)
 
(274,503
)
Cash dividends paid
(73,434
)
 
(69,429
)
Net cash provided by (used in) financing activities
(178,252
)
 
(534,411
)
Effect of exchange rate changes on cash
164

 
3,472

Net increase (decrease) in cash and cash equivalents
70

 
28,639

Cash and Cash Equivalents
 
 
 
Beginning of year
52,295

 
23,656

End of period
$
52,365

 
$
52,295


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