Company: GGG
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000042888-25-000011
Chunk: 71

Company: GRACO INC
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 71
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 (loss)— — — 34,383 34,383 Balance December 29, 2023167,946 863,336 1,227,938 (34,995)2,224,225 Shares issued1,847 64,201 — — 66,048 Shares repurchased(399)(2,049)(28,902)— (31,350)Stock compensation cost— 29,563 — — 29,563 Net earnings— — 486,084 — 486,084 Dividends declared ($1.0400 per share)— — (175,856)— (175,856)Other comprehensive income (loss)— — — (14,579)(14,579)Balance December 27, 2024$169,394 $955,051 $1,509,264 $(49,574)$2,584,135 

See notes to consolidated financial statements.

40

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Graco Inc. and Subsidiaries

Years Ended December 27, 2024, December 29, 2023 and December 30, 2022

A. Summary of Significant Accounting Policies

Fiscal Year. The fiscal year of Graco Inc. and Subsidiaries (the Company) is 52- or 53-weeks, ending on the last Friday in December. The years ended December 27, 2024, December 29, 2023, and December 30, 2022 were 52-week years. Basis of Statement Presentation. The consolidated financial statements include the accounts of the parent company and its subsidiaries after elimination of intercompany balances and transactions. As of December 27, 2024, all subsidiaries are 100 percent controlled by the Company. Certain reclassifications have been made to the prior year's consolidated financial statements to conform to the current year presentation.  Foreign Currency Translation. The functional currency of certain subsidiaries is the local currency. Accordingly, adjustments resulting from the translation of those subsidiaries’ financial statements into U.S. dollars are charged or credited to accumulated other comprehensive income (loss). The U.S. dollar is the functional currency for all other foreign subsidiaries. Accordingly, gains and losses from the translation of foreign currency balances and transactions of those subsidiaries are included in other (income) expense, net.Accounting Estimates. The preparation of financial statements in conformity