Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 1

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 1
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,297 771,656 Goodwill495,632 487,468 Other Intangible Assets, net231,886 233,306 Operating Lease Assets22,456 19,678 Deferred Income Taxes41,245 46,910 Other Assets82,798 82,753 Total Assets$3,008,314 $3,139,212 LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent LiabilitiesNotes payable to banks$27,591 $28,537 Trade accounts payable77,761 60,816 Salaries and incentives51,912 58,169 Dividends payable46,365 46,558 Other current liabilities176,015 211,728 Total current liabilities379,644 405,808 Retirement Benefits and Deferred Compensation80,134 80,381 Operating Lease Liabilities14,856 12,278 Deferred Income Taxes36,558 37,822 Other Non-current Liabilities19,402 18,788 Shareholders’ EquityCommon stock167,218 169,394 Additional paid-in-capital972,655 955,051 Retained earnings1,367,455 1,509,264 Accumulated other comprehensive loss(29,608)(49,574)Total shareholders’ equity2,477,720 2,584,135 Total Liabilities and Shareholders’ Equity$3,008,314 $3,139,212 

See notes to consolidated financial statements.

4

GRACO INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) (In thousands)

 Three Months Ended March 28,2025March 29,2024Cash Flows From Operating ActivitiesNet Earnings$124,101 $122,199 Adjustments to reconcile net earnings to net cashprovided by operating activitiesDepreciation and amortization24,708 19,516 Deferred income taxes3,200 6,041 Share-based compensation7,353 10,549 Gain on sale of building(4,737)(1,216)Change inAccounts receivable(6,258)28,828 Inventories(2,789)(23,242)Trade accounts payable17,673 8,038 Salaries and incentives(7,997)(23,186)Retirement benefits and deferred compensation(648)1,813