Company: GGG
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000042888-25-000011
Chunk: 94

Company: GRACO INC
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 94
---
 benefit cost$7,635 $51,695 $4,553 $1,492 $1,380 $1,700 Net periodic benefit cost is disaggregated between service cost presented as operating expense and other components of pension cost presented as non-operating expense. Other components of pension cost and changes in cash surrender value of insurance contracts intended to fund certain non-qualified pension and deferred compensation arrangements included in non-operating expenses totaled $3 million in 2024, $44 million in 2023 and $1 million in 2022.Amounts recognized in other comprehensive income (loss) in 2024 and 2023 were as follows (in thousands): Pension BenefitsPostretirement Medical Benefits 2024202320242023Net (loss) gain arising during the period$17,506 $(37,132)$2,153 $237 Amortization of net loss (gain)3,255 5,999 — (133)Prior service credit (cost) arising during the period285 250 — — Settlement loss346 42,169 — — Amortization of prior service (credit) cost(281)36 — — Total$21,111 $11,322 $2,153 $104 Amounts included in accumulated other comprehensive income (loss) as of December 27, 2024 and December 29, 2023, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands): Pension BenefitsPostretirement Medical Benefits 2024202320242023Prior service cost $2,026 $2,163 $— $— Net gain (loss)(22,954)(44,195)4,148 1,995 Net gain (loss) before income taxes(20,928)(42,032)4,148 1,995 Income taxes4,549 9,464 (914)(439)Net$(16,379)$(32,568)$3,234 $1,556 

59

Assumptions used to determine the Company’s benefit obligations are shown below: Pension BenefitsPostretirement Medical BenefitsWeighted average assumptions2024202320242023U.S. PlansDiscount rate5.9 %5.3 %5.8 %5.3