$GGG
GRACO INC

2012 Q3 Form 10-Q Financial Statement

#000119312512316069 Filed on July 26, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2012 Q2
Revenue $256.5M $268.2M
YoY Change 12.81% 23.2%
Cost Of Revenue $116.5M $128.7M
YoY Change 15.39% 37.92%
Gross Profit $139.9M $139.5M
YoY Change 10.75% 12.17%
Gross Profit Margin 54.56% 52.03%
Selling, General & Admin $71.12M $74.55M
YoY Change 20.28% 29.89%
% of Gross Profit 50.82% 53.43%
Research & Development $12.49M $12.50M
YoY Change 19.78% 25.89%
% of Gross Profit 8.92% 8.96%
Depreciation & Amortization $10.00M $10.30M
YoY Change 9.89% 22.23%
% of Gross Profit 7.15% 7.38%
Operating Expenses $83.60M $87.06M
YoY Change 20.21% 29.3%
Operating Profit $56.33M $52.48M
YoY Change -0.83% -8.05%
Interest Expense $5.233M $5.359M
YoY Change 67.46% 769.97%
% of Operating Profit 9.29% 10.21%
Other Income/Expense, Net $3.233M $3.236M
YoY Change -1094.77%
Pretax Income $54.33M $50.35M
YoY Change 1.83% -10.81%
Income Tax $17.20M $16.00M
% Of Pretax Income 31.66% 31.78%
Net Earnings $37.10M $34.40M
YoY Change -2.62% -7.77%
Net Earnings / Revenue 14.47% 12.83%
Basic Earnings Per Share $0.61 $0.57
Diluted Earnings Per Share $0.60 $0.56
COMMON SHARES
Basic Shares Outstanding 60.52M shares 60.45M shares
Diluted Shares Outstanding 61.78M shares 61.80M shares

Balance Sheet

Concept 2012 Q3 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $454.1M $449.9M
YoY Change 280.64% 338.93%
Cash & Equivalents $27.32M $23.09M
Short-Term Investments $426.8M $426.8M
Other Short-Term Assets $6.124M $6.694M
YoY Change 85.3% 176.84%
Inventory $120.6M $124.4M
Prepaid Expenses
Receivables $174.9M $192.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $776.0M $793.9M
YoY Change 37.3% 108.64%
LONG-TERM ASSETS
Property, Plant & Equipment $152.9M $154.3M
YoY Change 13.72% 15.65%
Goodwill $171.9M $167.3M
YoY Change 84.03% 82.38%
Intangibles $154.7M $156.6M
YoY Change 649.28% 515.19%
Long-Term Investments
YoY Change
Other Assets $14.52M $14.28M
YoY Change 35.53% 57.99%
Total Long-Term Assets $524.0M $525.8M
YoY Change 90.94% 91.27%
TOTAL ASSETS
Total Short-Term Assets $776.0M $793.9M
Total Long-Term Assets $524.0M $525.8M
Total Assets $1.300B $1.320B
YoY Change 54.83% 101.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.59M $31.73M
YoY Change -4.36% 9.68%
Accrued Expenses $51.30M $44.50M
YoY Change 21.28% 24.65%
Deferred Revenue
YoY Change
Short-Term Debt $7.600M $6.300M
YoY Change -45.32% -43.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $143.8M $153.9M
YoY Change 11.92% 26.41%
LONG-TERM LIABILITIES
Long-Term Debt $589.6M $627.2M
YoY Change 96.54% 318.12%
Other Long-Term Liabilities $121.3M $130.1M
YoY Change 55.12% 68.09%
Total Long-Term Liabilities $589.6M $627.2M
YoY Change 96.54% 318.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $143.8M $153.9M
Total Long-Term Liabilities $589.6M $627.2M
Total Liabilities $733.4M $781.1M
YoY Change 71.17% 187.42%
SHAREHOLDERS EQUITY
Retained Earnings $162.9M $139.7M
YoY Change 92.42% 102.31%
Common Stock $342.5M $334.5M
YoY Change 14.8% 15.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $427.5M $391.4M
YoY Change
Total Liabilities & Shareholders Equity $1.300B $1.320B
YoY Change 54.83% 101.35%

Cashflow Statement

Concept 2012 Q3 2012 Q2
OPERATING ACTIVITIES
Net Income $37.10M $34.40M
YoY Change -2.62% -7.77%
Depreciation, Depletion And Amortization $10.00M $10.30M
YoY Change 9.89% 22.23%
Cash From Operating Activities $67.30M $41.20M
YoY Change 126.6% 190.55%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M -$5.600M
YoY Change -71.67% -223.98%
Acquisitions
YoY Change
Other Investing Activities -$15.00M -$652.6M
YoY Change 614.29% -652700.0%
Cash From Investing Activities -$16.70M -$658.2M
YoY Change 108.75% 14948.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.50M 313.3M
YoY Change 911.11% 275.61%
NET CHANGE
Cash From Operating Activities 67.30M 41.20M
Cash From Investing Activities -16.70M -658.2M
Cash From Financing Activities -45.50M 313.3M
Net Change In Cash 5.100M -303.7M
YoY Change -70.35% -425.8%
FREE CASH FLOW
Cash From Operating Activities $67.30M $41.20M
Capital Expenditures -$1.700M -$5.600M
Free Cash Flow $69.00M $46.80M
YoY Change 93.28% 384.32%

Facts In Submission

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ProceedsFromSaleOfPropertyPlantAndEquipment
96000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
188000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1879000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
485000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
125515000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
172430000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-666096000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12435000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
452695000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
252175000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2000000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1700000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
23386000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18705000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
272000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
27043000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
25342000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
321083000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
78899000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
284000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-679000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-280062000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
109676000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9591000 USD
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
119267000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
8292000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10539000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
13550000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8328000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1921000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1131000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
227323000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2139000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
426813000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
60268000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1303000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
60496000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1219000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61571000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61715000 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1319000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61803000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
60484000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
60721000 shares
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1349000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62070000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
572000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
438000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5478000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
543000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-530000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
-36000 shares
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5455000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
32.12
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
50.34
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
28.43
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
34.47
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
34.28
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3211000 shares
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3464000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
32.27
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
32.32
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6900000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6300000 USD
CY2012Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11800000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition
2.0
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
239000 shares
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
313000 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
6000 shares
CY2012Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
72580000 USD
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
75658000 USD
CY2012Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-10281000 USD
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-823000 USD
CY2012Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11000000 USD
CY2011Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3000000 USD
CY2012Q2 us-gaap Noncurrent Assets
NoncurrentAssets
154269000 USD
CY2011Q4 us-gaap Noncurrent Assets
NoncurrentAssets
138248000 USD
CY2012Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
57781000 USD
CY2011Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
51943000 USD
CY2012Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
41333000 USD
CY2011Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
39268000 USD
CY2012Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
65754000 USD
CY2012Q2 us-gaap Inventory Gross
InventoryGross
164868000 USD
CY2011Q4 us-gaap Inventory Gross
InventoryGross
145772000 USD
CY2011Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
54561000 USD
CY2012Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
40440000 USD
CY2011Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
40425000 USD
CY2012Q2 ggg Other Intangible Assets Gross
OtherIntangibleAssetsGross
213133000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
172553000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
51083000 USD
CY2012Q2 ggg Finite Lived Intangible Assets Foreign Currency Translation
FiniteLivedIntangibleAssetsForeignCurrencyTranslation
5416000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
116054000 USD
CY2011Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
61733000 USD
CY2011Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
46527000 USD
CY2011Q4 ggg Finite Lived Intangible Assets Foreign Currency Translation
FiniteLivedIntangibleAssetsForeignCurrencyTranslation
268000 USD
CY2011Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14938000 USD
CY2011Q4 ggg Other Intangible Assets Gross
OtherIntangibleAssetsGross
64913000 USD
CY2012Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
156634000 USD
CY2011Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
18118000 USD
us-gaap Future Amortization Expense Year One
FutureAmortizationExpenseYearOne
14900000 USD
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 USD
us-gaap Future Amortization Expense Year Two
FutureAmortizationExpenseYearTwo
12200000 USD
us-gaap Future Amortization Expense Year Three
FutureAmortizationExpenseYearThree
8800000 USD
us-gaap Future Amortization Expense Year Four
FutureAmortizationExpenseYearFour
8400000 USD
us-gaap Future Amortization Expense Year Five
FutureAmortizationExpenseYearFive
8100000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6800000 USD
us-gaap Future Amortization Expense After Year Five
FutureAmortizationExpenseAfterYearFive
70500000 USD
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-4164000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
78080000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7850000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6709000 USD
CY2012Q2 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
3417000 USD
CY2011Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
6607000 USD
CY2012Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
3640000 USD
CY2012Q2 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
7103000 USD
CY2011Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
6563000 USD
CY2011Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
5852000 USD
CY2012Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
5786000 USD
CY2012Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36144000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20896000 USD
CY2011Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
2689000 USD
CY2011Q4 ggg Customer Advances And Deferred Revenue
CustomerAdvancesAndDeferredRevenue
280000 USD
CY2012Q2 ggg Customer Advances And Deferred Revenue
CustomerAdvancesAndDeferredRevenue
12374000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
2927000 USD
ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
1413000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4320000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6862000 USD
CY2011 us-gaap Product Warranty Expense
ProductWarrantyExpense
5110000 USD
CY2011 ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
2676000 USD
CY2011 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7939000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
1121000 USD
CY2011 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Helvetica;font-size:12pt;margin-left:0px;">The </font><font style="font-family:Arial;font-size:12pt;">Company accounts for all derivatives, including those embedded in other contracts, as either assets or liabilities and measures those financial instruments at fair value. The accounting for changes in the fair value of derivatives depends on their intended use and designation. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Helvetica;font-size:12pt;margin-left:36px;">As part of its risk management program, the Company may periodically use forward exchange contracts and interest rate swaps to manage known market exposures. Terms of derivative instruments are structured to match the terms of the risk being managed and are generally held to maturity. The Company does not hold or issue derivative financial instruments for trading purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements of, and have been designated as, normal purchases or sales. The Company's policy is to not enter into contracts with terms that cannot be designated as normal purchases or sales. </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Arial;font-size:12pt;margin-left:36px;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Arial;font-size:12pt;margin-left:36px;">The Company periodically evaluates its monetary asset and liability positions denominated in foreign currencies. The Company enters into forward contracts or options, or borrows in various currencies, in order to hedge its net monetary positions. These instruments are recorded at current market values and the gains and losses are included in other expen</font><font style="font-family:Arial;font-size:12pt;">se</font><font style="font-family:Arial;font-size:12pt;"> (income), net. The</font><font style="font-family:Arial;font-size:12pt;"> notional amount of</font><font style="font-family:Arial;font-size:12pt;"> contracts </font><font style="font-family:Arial;font-size:12pt;">outstanding as of June 29, 2012</font><font style="font-family:Arial;font-size:12pt;"> </font><font style="font-family:Arial;font-size:12pt;">tota</font><font style="font-family:Arial;font-size:12pt;">led</font><font style="font-family:Arial;font-size:12pt;"> $</font><font style="font-family:Arial;font-size:12pt;">2</font><font style="font-family:Arial;font-size:12pt;">6</font><font style="font-family:Arial;font-size:12pt;"> million. </font><font style="font-family:Arial;font-size:12pt;">The Company believes it uses strong financial counterparts in these transactions and that the resulting credit risk under these hedging strategies is not significant.</font><font style="font-family:Times New Roman;font-size:12pt;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Arial;font-size:12pt;margin-left:36px;">The Company uses significant other observable inputs to value the derivative instruments used to hedge interest rate volatility and net monetary positions</font><font style="font-family:Arial;font-size:12pt;">, including reference to market prices and financial models that incorporate relevant market assumptions</font><font style="font-family:Arial;font-size:12pt;">.</font></p>
CY2012Q2 us-gaap Notional Amount Of Foreign Currency Derivatives
NotionalAmountOfForeignCurrencyDerivatives
26000000 USD
CY2011Q4 ggg Unrealized Loss On Derivatives
UnrealizedLossOnDerivatives
120000 USD
CY2011Q4 ggg Unrealizedgainonderivatives
Unrealizedgainonderivatives
218000 USD
CY2012Q2 ggg Unrealizedgainonderivatives
Unrealizedgainonderivatives
201000 USD
CY2012Q2 ggg Unrealized Loss On Derivatives
UnrealizedLossOnDerivatives
234000 USD
CY2012Q2 us-gaap Line Of Credit Facility Expiration Date
LineOfCreditFacilityExpirationDate
March 2017
CY2012Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
450000000 USD
CY2012Q2 ggg Swingline Facility Maximum Borrowing Capacity
SwinglineFacilityMaximumBorrowingCapacity
50000000 USD
CY2012Q2 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Loans denominated in U.S. Dollars bear interest, at the Company&#8217;s option, at either a base rate or a LIBOR-based rate. Loans denominated in currencies other than U.S. Dollars bear interest at a LIBOR-based rate. The base rate is an annual rate equal to a margin ranging from 0% to 1%, depending on the Company&#8217;s cash flow leverage ratio (debt to earnings before interest, taxes, depreciation, amortization and extraordinary, non-operating or non-cash charges and expenses), plus the highest of (i) the bank&#8217;s prime rate, (ii) the federal funds rate plus 0.5% or (iii) one-month LIBOR plus 1.5%. In general, LIBOR-based loans bear interest at LIBOR plus 1% to 2%, depending on the Company&#8217;s cash flow leverage ratio.
CY2012Q2 ggg Line Of Credit Facility Unused Capacity Commitment Fee Percentage Minimum
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentageMinimum
0.0015 pure
CY2012Q2 ggg Line Of Credit Facility Unused Capacity Commitment Fee Percentage Maximum
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentageMaximum
0.004 pure
CY2012Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
300000000 USD
us-gaap Debt Instrument Maturity Date Range Start
DebtInstrumentMaturityDateRangeStart
2018
us-gaap Debt Instrument Maturity Date Range End
DebtInstrumentMaturityDateRangeEnd
2026
CY2012Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
300000000 USD
CY2011 us-gaap Business Acquisition Revenue Reported By Acquired Entity For Last Annual Period
BusinessAcquisitionRevenueReportedByAcquiredEntityForLastAnnualPeriod
375000000 USD
CY2011Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
8000000 USD
CY2012Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
11000000 USD
CY2012Q2 us-gaap Investment Income Dividend
InvestmentIncomeDividend
4000000 USD
CY2012Q2 us-gaap Business Acquisition Cost Of Acquired Entity Cash Paid
BusinessAcquisitionCostOfAcquiredEntityCashPaid
660000000 USD
CY2012Q2 ggg Business Acquisition Cost Of Acquired Entity Cash To Be Paid
BusinessAcquisitionCostOfAcquiredEntityCashToBePaid
8000000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Assets Receivables
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivables
17835000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Assets Cash And Cash Equivalents
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsCashAndCashEquivalents
6007000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Assets Inventory
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsInventory
21733000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Assets Prepaid Expense And Other Assets
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets
2534000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Property Plant And Equipment
BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment
18359000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Other Noncurrent Assets
BusinessAcquisitionPurchasePriceAllocationOtherNoncurrentAssets
50000 USD
CY2012Q2 ggg Business Acquisition Purchase Price Allocation Intangible Assets Other Than Goodwill
BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill
150500000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Goodwill Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillAmount
78080000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired
BusinessAcquisitionPurchasePriceAllocationAssetsAcquired
295098000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Liabilities
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilities
27434000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Noncurrent Liabilities
BusinessAcquisitionPurchasePriceAllocationNoncurrentLiabilities
7942000 USD
CY2012Q2 ggg Business Acquisition Purchase Price Allocation Deferred Tax Assets Noncurrent
BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetsNoncurrent
18171000 USD
CY2012Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
241551000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Current Assets Asset Not To Be Used
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsAssetNotToBeUsed
426813000 USD
CY2012Q2 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired Liabilities Assumed Net
BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet
668364000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
535300000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
80074000 USD
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.33
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.30
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.18
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.21
CY2011Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.67
CY2011Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.66
CY2012Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.64
CY2012Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.66
CY2012Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
268184000 USD
CY2012Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
39726000 USD
CY2011Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
266949000 USD
CY2011Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
40793000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
516124000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
73002000 USD
CY2012Q2 ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
66896000 USD
CY2011Q3 ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
65296000 USD
ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
133203000 USD
ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
118901000 USD
us-gaap Business Acquisition Pro Forma Information Description
BusinessAcquisitionProFormaInformationDescription
Additional depreciation and amortization of $2 million per quarter are reflected in the pro forma results as if the acquisition of Powder Finishing had occurred at the beginning of 2011. Non-recurring acquisition expenses of $7 million for the second quarter and $11 million year-to-date were eliminated from the 2012 pro forma results, and $3 million were eliminated from pro forma results for the quarter and year-to-date 2011. Purchase accounting effects of $7 million related to inventory were removed from the second quarter and year-to-date 2012 and reflected in 2011. To the extent that the Liquid Finishing business generates funds in excess of financial resources needed, the Company has access to such funds consistent with practices in place prior to the acquisition. Net earnings of the Liquid Finishing business, from which dividends could have been paid, subject to funds availability, were $7 million and $15 million for the quarter and year-to-date, respectively, in 2012, and $8 million and $15 million for the quarter and year-to-date, respectively, in 2011. For pro forma purposes, dividend income from Liquid Finishing of $4 million was eliminated from other income in the second quarter of 2012.
CY2012Q2 ggg Business Acquisition Pro Forma Adjustments Depreciation And Amortization
BusinessAcquisitionProFormaAdjustmentsDepreciationAndAmortization
2000000 USD
CY2012Q2 ggg Business Acquisition Pro Forma Adjustments Acquisition Transaction Costs
BusinessAcquisitionProFormaAdjustmentsAcquisitionTransactionCosts
7000000 USD
ggg Business Acquisition Pro Forma Adjustments Acquisition Transaction Costs
BusinessAcquisitionProFormaAdjustmentsAcquisitionTransactionCosts
11000000 USD
CY2011Q3 ggg Business Acquisition Pro Forma Adjustments Acquisition Transaction Costs
BusinessAcquisitionProFormaAdjustmentsAcquisitionTransactionCosts
3000000 USD
CY2012Q2 ggg Business Acquisition Pro Forma Adjustments Inventory
BusinessAcquisitionProFormaAdjustmentsInventory
7000000 USD
CY2012Q2 ggg Net Earnings Of Business Held Separate
NetEarningsOfBusinessHeldSeparate
7000000 USD
ggg Net Earnings Of Business Held Separate
NetEarningsOfBusinessHeldSeparate
15000000 USD
CY2011Q3 ggg Net Earnings Of Business Held Separate
NetEarningsOfBusinessHeldSeparate
8000000 USD
ggg Net Earnings Of Business Held Separate
NetEarningsOfBusinessHeldSeparate
15000000 USD
CY2012Q2 ggg Business Acquisition Pro Forma Adjustments Dividend Income
BusinessAcquisitionProFormaAdjustmentsDividendIncome
4000000 USD

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