$GGG
GRACO INC

2012 Q1 Form 10-Q Financial Statement

#000119312513170540 Filed on April 24, 2013

View on sec.gov

Income Statement

Concept 2012 Q1
Revenue $234.1M
YoY Change
Cost Of Revenue $101.9M
YoY Change
Gross Profit $132.2M
YoY Change
Gross Profit Margin 56.46%
Selling, General & Admin $62.57M
YoY Change
% of Gross Profit 47.34%
Research & Development $11.64M
YoY Change
% of Gross Profit 8.8%
Depreciation & Amortization $8.075M
YoY Change
% of Gross Profit 6.11%
Operating Expenses $74.21M
YoY Change
Operating Profit $57.97M
YoY Change
Interest Expense $3.689M
YoY Change
% of Operating Profit 6.36%
Other Income/Expense, Net -$299.0K
YoY Change
Pretax Income $53.98M
YoY Change
Income Tax $18.60M
% Of Pretax Income 34.46%
Net Earnings $35.40M
YoY Change
Net Earnings / Revenue 15.12%
Basic Earnings Per Share $0.59
Diluted Earnings Per Share $0.58
COMMON SHARES
Basic Shares Outstanding 59.85M shares
Diluted Shares Outstanding 61.34M shares

Balance Sheet

Concept 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $326.8M
YoY Change
Cash & Equivalents $326.8M
Short-Term Investments
Other Short-Term Assets $4.139M
YoY Change
Inventory $110.1M
Prepaid Expenses
Receivables $172.2M
Other Receivables $0.00
Total Short-Term Assets $632.1M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $138.7M
YoY Change
Goodwill $93.40M
YoY Change
Intangibles $15.59M
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.19M
YoY Change
Total Long-Term Assets $293.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $632.1M
Total Long-Term Assets $293.6M
Total Assets $925.7M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.92M
YoY Change
Accrued Expenses $34.90M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.50M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $133.6M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $300.0M
YoY Change
Other Long-Term Liabilities $121.1M
YoY Change
Total Long-Term Liabilities $300.0M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $133.6M
Total Long-Term Liabilities $300.0M
Total Liabilities $433.6M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $119.1M
YoY Change
Common Stock $326.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $371.0M
YoY Change
Total Liabilities & Shareholders Equity $925.7M
YoY Change

Cashflow Statement

Concept 2012 Q1
OPERATING ACTIVITIES
Net Income $35.40M
YoY Change
Depreciation, Depletion And Amortization $8.075M
YoY Change
Cash From Operating Activities $23.45M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $6.513M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.357M
YoY Change
Cash From Investing Activities -$7.870M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid $13.45M
YoY Change
Common Stock Issuance & Retirement, Net -$19.84M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $7.805M
YoY Change
NET CHANGE
Cash From Operating Activities $23.45M
Cash From Investing Activities -$7.870M
Cash From Financing Activities $7.805M
Net Change In Cash $23.39M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $23.45M
Capital Expenditures $6.513M
Free Cash Flow $16.94M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
21690000 USD
CY2012Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1357000 USD
CY2013Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1280000 USD
CY2013Q1 us-gaap Other Short Term Investments
OtherShortTermInvestments
425978000 USD
CY2012Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
426813000 USD
CY2013Q1 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
20644000 USD
CY2013Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2012Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1921000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
0 USD
CY2013Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-835000 USD
CY2012Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
CY2012Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
1735000 USD
CY2013Q1 ggg Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-8487000 USD
CY2013Q1 ggg Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1578000 USD
CY2012Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4000000 USD
CY2013Q1 us-gaap Noncurrent Assets
NoncurrentAssets
148767000 USD
CY2012Q4 us-gaap Noncurrent Assets
NoncurrentAssets
151544000 USD
CY2013Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
63663000 USD
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
58703000 USD
CY2013Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
43518000 USD
CY2012Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
44001000 USD
CY2013Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
63722000 USD
CY2013Q1 us-gaap Inventory Gross
InventoryGross
170903000 USD
CY2012Q4 us-gaap Inventory Gross
InventoryGross
161894000 USD
CY2012Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
59190000 USD
CY2013Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
40627000 USD
CY2012Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
40345000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
142355000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32290000 USD
CY2013Q1 ggg Finite Lived Intangible Assets Foreign Currency Translation
FiniteLivedIntangibleAssetsForeignCurrencyTranslation
5176000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
104889000 USD
CY2013Q1 ggg Other Intangible Assets Gross
OtherIntangibleAssetsGross
182755000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
153160000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
39747000 USD
CY2012Q4 ggg Finite Lived Intangible Assets Foreign Currency Translation
FiniteLivedIntangibleAssetsForeignCurrencyTranslation
1657000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
111756000 USD
CY2012Q4 ggg Other Intangible Assets Gross
OtherIntangibleAssetsGross
193740000 USD
CY2013Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
143332000 USD
CY2012Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
151773000 USD
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3400000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12300000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8900000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8500000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8100000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7900000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
62600000 USD
CY2012Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000 USD
CY2013Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-3009000 USD
CY2013Q1 us-gaap Goodwill Other Changes
GoodwillOtherChanges
-885000 USD
CY2013Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7643000 USD
CY2012Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7943000 USD
CY2013Q1 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
1404000 USD
CY2012Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
7203000 USD
CY2013Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
3517000 USD
CY2013Q1 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
6447000 USD
CY2012Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
6952000 USD
CY2012Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
5669000 USD
CY2013Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
19509000 USD
CY2013Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20903000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
22704000 USD
CY2012Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4305000 USD
CY2012Q4 ggg Customer Advances And Deferred Revenue
CustomerAdvancesAndDeferredRevenue
10617000 USD
CY2013Q1 ggg Customer Advances And Deferred Revenue
CustomerAdvancesAndDeferredRevenue
11211000 USD
CY2013Q1 us-gaap Product Warranty Expense
ProductWarrantyExpense
1274000 USD
CY2013Q1 ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
563000 USD
CY2013Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2137000 USD
CY2012 us-gaap Product Warranty Expense
ProductWarrantyExpense
6182000 USD
CY2012 ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
2244000 USD
CY2012 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8313000 USD
CY2013Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2012 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
1121000 USD
CY2013Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
10042000 USD
CY2013Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
300000000 USD
CY2013Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
330000000 USD
CY2012Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
330000000 USD
CY2012Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
9974000 USD
CY2013Q1 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 March 29, 2013</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;">1</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 </font><font style="font-family:Arial;font-size:12pt;">(level 2 in the fair value hierarchy) </font><font style="font-family:Arial;font-size:12pt;">to value the derivative instruments used to hedge 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>
CY2013Q1 us-gaap Notional Amount Of Foreign Currency Derivatives
NotionalAmountOfForeignCurrencyDerivatives
21000000 USD
CY2012Q4 ggg Unrealized Loss On Derivatives
UnrealizedLossOnDerivatives
62000 USD
CY2012Q4 ggg Unrealizedgainonderivatives
Unrealizedgainonderivatives
553000 USD
CY2013Q1 ggg Unrealizedgainonderivatives
Unrealizedgainonderivatives
192000 USD
CY2013Q1 ggg Unrealized Loss On Derivatives
UnrealizedLossOnDerivatives
128000 USD
CY2013Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
4000000 USD
CY2013Q1 ggg Cost Method Investments Adjustments
CostMethodInvestmentsAdjustments
1000000 USD
CY2013Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
269046000 USD
CY2013Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
47904000 USD
CY2013Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.79
CY2013Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.77
CY2012Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.63
CY2012Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.65
CY2012Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
264367000 USD
CY2012Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
38921000 USD
CY2013Q1 ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
71497000 USD
CY2012Q1 ggg Business Acquisitions Pro Forma Operating Earnings
BusinessAcquisitionsProFormaOperatingEarnings
64193000 USD
CY2012Q1 ggg Business Acquisition Pro Forma Adjustments Depreciation And Amortization
BusinessAcquisitionProFormaAdjustmentsDepreciationAndAmortization
2000000 USD
CY2013Q1 ggg Business Acquisition Pro Forma Adjustments Dividend Income
BusinessAcquisitionProFormaAdjustmentsDividendIncome
4000000 USD
CY2012Q1 ggg Business Acquisition Pro Forma Adjustments Acquisition Transaction Costs
BusinessAcquisitionProFormaAdjustmentsAcquisitionTransactionCosts
4000000 USD

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