Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 6

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 6
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26.80 $28.05 Under the Company’s Employee Stock Purchase Plan, the Company issued 246,000 shares in 2025 and 330,000 shares in 2024. The fair value of the employees’ purchase rights under this plan was estimated on the date of grant. The benefit of the 15 percent discount from the lesser of the fair market value per common share on the first day and the last day of the plan year was added to the fair value of the employees’ purchase rights determined using the Black-Scholes option pricing model with the following assumptions and results: Three Months Ended March 28,2025March 29,2024Expected life in years1.01.0Interest rate4.1 %4.9 %Volatility19.6 %24.2 %Dividend yield1.3 %1.1 %Weighted average fair value per share$19.65 $23.16 

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5.Retirement Benefits

The components of net periodic benefit cost for retirement benefit plans were as follows (in thousands): Three Months Ended March 28,2025March 29,2024Pension BenefitsService cost$1,253 $1,467 Interest cost2,143 2,430 Expected return on assets(2,903)(2,444)Amortization and other164 936 Net periodic benefit cost$657 $2,389 Postretirement MedicalService cost$75 $100 Interest cost200 300 Amortization— (25)Net periodic benefit cost$275 $375 

6.Shareholders’ Equity

Changes in components of accumulated other comprehensive income (loss), net of tax were as follows (in thousands):Pension andPost-retirementMedicalCumulativeTranslationAdjustmentTotalThree Months Ended March 28, 2025Balance, December 27, 2024$(13,145)$(36,429)$(49,574)Other comprehensive income (loss) before reclassifications— 19,903 19,903 Reclassified to pension cost and deferred tax63 — 63 Balance, March 28, 2025$(13,082)$(16,526)$(29,608)Three Months Ended March 29, 2024Balance, December 29, 2023$(31,012)$(3,983)$(34,995)Other comprehensive income (loss