Company: GGG
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000042888-25-000011
Chunk: 86

Company: GRACO INC
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 86
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 also has authorized, but not issued, a separate class of 3 million shares of preferred stock, $1 par value.Changes in components of accumulated other comprehensive income (loss), net of tax were (in thousands):Pension andPostretirementMedicalCumulativeTranslationAdjustmentTotalBalance, December 31, 2021$(60,107)$(20,062)$(80,169)Other comprehensive income (loss) before reclassifications16,083 (9,582)6,501 Amounts reclassified from accumulated other comprehensive income4,290 — 4,290 Balance, December 30, 2022(39,734)(29,644)(69,378)Other comprehensive income (loss) before reclassifications(28,162)25,661 (2,501)Amounts reclassified from accumulated other comprehensive income36,884 — 36,884 Balance, December 29, 2023(31,012)(3,983)(34,995)Other comprehensive income (loss) before reclassifications15,098 (32,446)(17,348)Amounts reclassified from accumulated other comprehensive income2,769 — 2,769 Balance, December 27, 2024$(13,145)$(36,429)$(49,574)

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Amounts related to pension and postretirement medical adjustments are classified to non-service components of pension cost that are included within other non-operating expenses. Included in the 2023 reclassifications were $42 million of pension settlement losses. See Note J for additional details regarding pension and postretirement medical plans.  

H. Share-Based Awards, Purchase Plans and Compensation Cost

Stock Option and Award Plan. The Company has a stock incentive plan under which it grants stock options and share awards to directors, officers and other employees. Option price is the market price on the date of grant. Options become exercisable at such time, generally over 3 years or 4 years, and in such installments as set by the Company, and expire 10 years from the date of grant.Restricted share awards have been made to certain key employees under the plan. The market value of restricted stock at the date of grant is charged to operations over the vesting period. Compensation cost related to restricted shares is not significant. The Company has a stock appreciation plan that provides for payments of cash to eligible foreign employees based on the change in the market price of the Company’s common stock