Graco Inc.

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SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/21/2017
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GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share amounts)
 
Years Ended
 
December 30,
2016
 
December 25,
2015
 
December 26,
2014
Net Sales
$
1,329,293

 
$
1,286,485

 
$
1,221,130

Cost of products sold
621,054

 
601,785

 
554,394

Gross Profit
708,239

 
684,700

 
666,736

Product development
60,606

 
58,559

 
54,246

Selling, marketing and distribution
215,253

 
201,855

 
194,751

General and administrative
126,481

 
122,161

 
108,814

Impairment
192,020

 

 

Operating Earnings
113,879

 
302,125

 
308,925

Interest expense
17,590

 
17,643

 
18,733

Held separate investment (income), net

 
(191,635
)
 
(25,951
)
Other expense (income), net
(366
)
 
1,404

 
1,070

Earnings Before Income Taxes
96,655

 
474,713

 
315,073

Income taxes
55,981

 
129,000

 
89,500

Net Earnings
$
40,674

 
$
345,713

 
$
225,573

Basic Net Earnings per Common Share
$
0.73

 
$
6.00

 
$
3.75

Diluted Net Earnings per Common Share
$
0.71

 
$
5.86

 
$
3.65

Cash Dividends Declared per Common Share
$
1.35

 
$
1.23

 
$
1.13

See notes to consolidated financial statements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
 
Years Ended
 
December 30,
2016
 
December 25,
2015
 
December 26,
2014
Net Earnings
$
40,674

 
$
345,713

 
$
225,573

Components of other comprehensive income (loss)
 
 
 
 
 
Cumulative translation adjustment
(31,227
)
 
(10,423
)
 
(27,935
)
Pension and postretirement medical liability adjustment
(10,715
)
 
10,372

 
(39,164
)
Income taxes - pension and postretirement medical liability
4,211

 
(3,710
)
 
12,712

Other comprehensive income (loss)
(37,731
)
 
(3,761
)
 
(54,387
)
Comprehensive Income
$
2,943

 
$
341,952

 
$
171,186

See notes to consolidated financial statements.

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