Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 7

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 7
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) before reclassifications— (18,706)(18,706)Reclassified to pension cost and deferred tax681 — 681 Balance, March 29, 2024$(30,331)$(22,689)$(53,020)

Amounts related to pension and post-retirement medical adjustments are reclassified to non-service components of pension cost that are included within other non-operating expenses. 

7.Receivables and Credit Losses

Accounts receivable include trade receivables of $359 million and other receivables of $14 million as of March 28, 2025 and $348 million and $15 million of trade receivables and other receivables, respectively, as of December 27, 2024.Allowance for Credit LossesFollowing is a summary of activity for credit losses (in thousands):

10

Three Months EndedMarch 28,2025March 29,2024Balance, beginning$4,973 $4,655 Additions charged to costs and expenses231 50 Deductions from reserves (1)(2)(32)Other additions (deductions) (2)158 (80)Balance, ending$5,360 $4,593 (1)    Represents amounts determined to be uncollectible and charged against reserves, net of collections on accounts previously charged against reserves. (2)  Includes effects of foreign currency translation.

8.Inventories

Major components of inventories were as follows (in thousands):March 28,2025December 27,2024Finished products and components$204,307 $197,242 Products and components in various stages of completion114,225 114,647 Raw materials and purchased components213,325 214,902 Subtotal531,857 526,791 Reduction to LIFO cost(121,907)(122,115)Total$409,950 $404,676 

9.Intangible Assets

Components of other intangible assets were as follows (dollars in thousands):Finite LifeIndefinite LifeCustomerRelationshipsPatents andProprietaryTechnologyTrademarks,Trade Namesand OtherTrade NamesTotalAs of March 28, 2025Cost$270,586 $30,990 $3,756 $95,091 $400,423 Accumulated amortization(148,689)(7,606)(2,580)— (158,875)Foreign currency translation