Graco Inc.

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SEC Filings

10-Q
GRACO INC filed this Form 10-Q on 04/26/2017
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GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited) (In thousands)
 
Three Months Ended
 
March 31,
2017
 
March 25,
2016
Cash Flows From Operating Activities
 
 
 
Net Earnings
$
60,732

 
$
39,552

Adjustments to reconcile net earnings to net cash
provided by operating activities
 
 
 
Depreciation and amortization
11,094

 
12,010

Deferred income taxes
(864
)
 
(2,688
)
Share-based compensation
5,477

 
6,093

Change in
 
 
 
Accounts receivable
(23,207
)
 
3,100

Inventories
(12,209
)
 
(8,127
)
Trade accounts payable
2,806

 
119

Salaries and incentives
(12,124
)
 
(17,191
)
Retirement benefits and deferred compensation
3,715

 
669

Other accrued liabilities
16,149

 
(3,233
)
Other
(1,345
)
 
(1,426
)
Net cash provided by operating activities
50,224

 
28,878

Cash Flows From Investing Activities
 
 
 
Property, plant and equipment additions
(8,200
)
 
(13,121
)
Acquisition of businesses, net of cash acquired
(9,968
)
 
(48,881
)
Change in restricted assets
638

 
876

Other
(62
)
 
320

Net cash provided by (used in) investing activities
(17,592
)
 
(60,806
)
Cash Flows From Financing Activities
 
 
 
Borrowings (payments) on short-term lines of credit, net
261

 
(1,461
)
Borrowings on long-term line of credit
191,120

 
298,709

Payments on long-term line of credit
(119,150
)
 
(233,734
)
Common stock issued
30,127

 
20,111

Common stock repurchased
(90,160
)
 
(48,050
)
Cash dividends paid
(20,118
)
 
(18,332
)
Net cash provided by (used in) financing activities
(7,920
)
 
17,243

Effect of exchange rate changes on cash
(509
)
 
(1,120
)
Net increase (decrease) in cash and cash equivalents
24,203

 
(15,805
)
Cash and Cash Equivalents
 
 
 
Beginning of year
52,365

 
52,295

End of period
$
76,568

 
$
36,490

See notes to consolidated financial statements.

5

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