Graco Inc.

    Print Page | Close Window

SEC Filings

10-Q
GRACO INC filed this Form 10-Q on 04/26/2017
Entire Document
 << Previous Page | Next Page >>

7.Inventories

Major components of inventories were as follows (in thousands):
 
March 31,
2017
 
December 30,
2016
Finished products and components
$
113,716

 
$
113,643

Products and components in various stages of completion
56,575

 
50,557

Raw materials and purchased components
92,005

 
84,631

Subtotal
262,296

 
248,831

Reduction to LIFO cost
(47,350
)
 
(47,222
)
Total
$
214,946

 
$
201,609


8.Intangible Assets

Components of other intangible assets were (dollars in thousands):
 
Finite Life
 
Indefinite Life
 
 
 
Customer
Relationships
 
Patents and
Proprietary
Technology
 
Trademarks,
Trade Names
and Other
 
Trade
Names
 
Total
As of March 31, 2017
 
 
 
 
 
 
 
 
 
Cost
$
174,884

 
$
17,921

 
$
895

 
$
57,853

 
$
251,553

Accumulated amortization
(44,700
)
 
(6,538
)
 
(388
)
 

 
(51,626
)
Foreign currency translation
(11,860
)
 
(899
)
 
(54
)
 
(4,268
)
 
(17,081
)
Book value
$
118,324

 
$
10,484

 
$
453

 
$
53,585

 
$
182,846

Weighted average life (years)
13

 
10

 
4

 
N/A

 
 
As of December 30, 2016
 
 
 
 
 
 
 
 
 
Cost
$
170,284

 
$
17,321

 
$
895

 
$
57,853

 
$
246,353

Accumulated amortization
(41,599
)
 
(6,088
)
 
(337
)
 

 
(48,024
)
Foreign currency translation
(13,630
)
 
(1,055
)
 
(59
)
 
(5,249
)
 
(19,993
)
Book value
$
115,055

 
$
10,178

 
$
499

 
$
52,604

 
$
178,336

Weighted average life (years)
13

 
10

 
4

 
N/A

 
 

Amortization of intangibles for the quarter was $3.6 million in 2017 and $4.8 million in 2016. Estimated future amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
 
2017
 
2018
 
2019
 
2020
 
2021
 
Thereafter
Estimated Amortization Expense
$
14,558

 
$
14,303

 
$
13,974

 
$
13,798

 
$
13,635

 
$
62,595


Changes in the carrying amount of goodwill for each reportable segment were (in thousands): 
 
Industrial    
 
Process    
 
Contractor    
 
Total    
Balance, December 30, 2016
$
150,556

 
$
96,561

 
$
12,732

 
$
259,849

Additions from business acquisitions
7,152

 

 

 
7,152

Foreign currency translation
2,066

 
261

 

 
2,327

Balance, March 31, 2017
$
159,774

 
$
96,822

 
$
12,732

 
$
269,328



10

 << Previous Page | Next Page >>