January 27, 202500000428882024FYfalse00000428882025-01-272025-01-27

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 27, 2025

Graco Inc.
(Exact name of registrant as specified in charter)

Minnesota001-0924941-0285640
(State or other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)   
  
88 – 11th Avenue Northeast
Minneapolis,Minnesota55413
(Address of principal executive offices)(Zip Code)
      
(612) 623-6000
Registrant’s telephone number, including area code

        
Not Applicable
(Former name or former address if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockGGGThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02.Results of Operations and Financial Condition

On January 27, 2025, Graco Inc. issued a press release to report the Company’s results of operations and financial condition for the year ended December 27, 2024. A copy of this press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits
  (d)Exhibits
 Press Release dated January 27, 2025
104Cover Page Interactive Data File (included within the Inline XBRL document).

Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. 
Date:January 27, 2025GRACO INC.
By:/s/ Joseph J. Humke
Joseph J. Humke
Its: Executive Vice President, General Counsel and Corporate Secretary




Exhibit 99.1GRACO INC.
image0a02a.jpg
P.O. Box 1441
image1a02a.jpg
Minneapolis, MN
55440-1441
NYSE: GGG
FOR IMMEDIATE RELEASE:FOR FURTHER INFORMATION:
Monday, January 27, 2025
Financial Contact: David M. Lowe, 612-623-6456
Media Contact: Meredith A. Sobieck, 612-623-6427
Meredith_A_Sobieck@graco.com

Graco Reports Fourth Quarter Results
MINNEAPOLIS (January 27, 2025) – Graco Inc. (NYSE: GGG) today announced results for the fourth quarter ended December 27, 2024.

Summary
$ in millions except per share amounts
Three Months EndedTwelve Months Ended
Dec 27,
2024		Dec 29,
2023		%
Change		Dec 27,
2024		Dec 29,
2023		%
Change
Net Sales$548.7 $566.6 (3) %$2,113.3 $2,195.6 (4) %
Operating Earnings130.0 169.9 (23) %570.1 646.8 (12) %
Net Earnings108.7 110.0 (1) %486.1 506.5 (4) %
Diluted Net Earnings per Common Share$0.63 $0.64 (2) %$2.82 $2.94 (4) %
Adjusted (non-GAAP): (1)
Operating Earnings, adjusted$137.7 $169.9 (19) %$577.8 $646.0 (11) %
Net Earnings, adjusted$110.1 $137.1 (20) %$477.1 $523.9 (9) %
Diluted Net Earnings per Common Share, adjusted$0.64 $0.80 (20) %$2.77 $3.04 (9) %
(1) Excludes impacts of business reorganization charges, excess tax benefits from stock option exercises, impairment charges, contingent consideration fair value adjustments, pension settlement losses and certain non-recurring tax provision adjustments. See Financial Results Adjusted for Comparability below for a reconciliation of adjusted non-GAAP financial measures to GAAP.
•Net sales for the fourth quarter decreased 3 percent, with decreases in all regions. Incremental sales from acquired operations partially offset the decrease and contributed 3 percentage points of growth for the quarter.
•The gross profit margin rate declined approximately 2 percentage points for the fourth quarter, including approximately a 1 percentage point impact from the unfavorable effects of lower margin rates from acquired operations. Lower sales volume and higher product costs more than offset realized pricing and further reduced the gross margin rate.
•Operating expenses for the fourth quarter increased $19 million, and included $7 million of incremental litigation costs in the Contractor segment associated with a trial that concluded in December of 2024, $7 million of business reorganization costs and $7 million of expenses from acquired operations.
•Operating earnings decreased 23 percent for the fourth quarter as lower sales volume and higher operating expenses drove the decline in operating earnings. Adjusted to exclude the effects of the business reorganization and other prior year items, operating earnings decreased 19 percent.
•Net earnings decreased 1 percent for the fourth quarter. Adjusted net earnings decreased 20 percent due to lower operating earnings and a higher effective income tax rate.


Page 2 GRACO

“We continued to experience slower demand across many end markets in the fourth quarter," said Mark Sheahan, Graco's President and CEO. "Soft demand for Industrial products in China, lower sales of semiconductor equipment and the timing of projects in the powder coatings equipment business were notable headwinds. We completed the Corob acquisition in November that contributed 3 percent of sales growth in the quarter. The strategic fit between Corob and our Contractor Division will serve us well in the future, and we welcome this business, and its dedicated employees into the Graco family. While 2024 has been challenging from a growth standpoint, I would like to thank our employees, suppliers, and distributors for their continued dedication and hard work.”

Consolidated Results
Net sales for the fourth quarter decreased 3 percent from the comparable period last year. Fourth quarter net sales decreased 1 percent in the Americas, decreased 2 percent in EMEA, and decreased 10 percent in Asia Pacific (9 percent at consistent translation rates). Net sales for the year decreased 4 percent compared to last year (3 percent at consistent translation rates). Net sales for the year decreased 1 percent in the Americas, decreased 2 percent in EMEA (3 percent at consistent translation rates) and decreased 16 percent in Asia Pacific (15 percent at consistent translation rates).

For the quarter, changes in currency translation rates decreased net sales by approximately $2 million. For the year, changes in currency translation rates decreased net sales by approximately $6 million (1 percentage point). Acquired operations contributed approximately 3 percentage points of sales growth for the quarter and 1 percentage point for the year.

The gross profit margin rate declined approximately 2 percentage points for the fourth quarter, including approximately a 1 percentage point impact from the unfavorable effects of lower margin rates from acquired operations. Lower sales volume and higher product costs more than offset realized pricing and further reduced the gross margin rate. For the year, the gross profit margin rate increased slightly as the favorable effects of realized pricing more than offset unfavorable product and channel mix and higher product costs.

Total operating expenses increased $19 million (15 percent) for the fourth quarter and $38 million (7 percent) for the year, respectively, compared to last year. Operating expenses for the fourth quarter included $7 million of incremental litigation costs in the Contractor segment associated with a trial that concluded in December of 2024, $7 million of business reorganization costs and $7 million of expenses from acquired operations. Operating expenses for the year included $13 million of incremental litigation costs associated with the aforementioned trial, $7 million of business reorganization costs, $7 million of expenses from acquired operations and $13 million of investments in new product development and other growth initiatives, including the relocation to a new distribution center. Reductions in volume and earnings-based expenses of $6 million for the quarter and $14 million for the year partially offset the increase in operating expenses.

Interest expense was flat for the fourth quarter and $2 million lower for the year compared to the same periods last year as private placement debt was repaid in the third quarter of 2023. Excluding a prior year pension settlement loss of $42 million, other income increased $3 million for the fourth quarter and $13 million for the year, largely due to increased interest income.

The effective income tax rate was 18 percent for both the quarter and year. Adjusted to exclude certain non-recurring items (see Financial Results Adjusted for Comparability below), the adjusted effective income tax rate was 22 percent for the quarter and 20 percent for the year, up approximately 2 percentage points and 1 percentage point, respectively, from the same periods last year largely due to the unfavorable effects of foreign earnings taxed at higher rates than the U.S.



Page 3 GRACO

Segment Results
Management assesses performance of segments by reference to operating earnings excluding unallocated corporate expenses. For a reconciliation of segment operating earnings to consolidated operating earnings, refer to the segment information table included in the financial statement section of this release. Certain measurements of segment operations are summarized below:
Three MonthsTwelve Months
ContractorIndustrialProcessContractorIndustrialProcess
Net Sales (in millions)$246.9 $165.7 $136.1 $988.9 $619.7 $504.8 
Percentage change from last year
Sales3 %(14)%0 %0 %(7)%(8)%
Operating earnings(30)%(27)%(3)%(5)%(14)%(14)%
Operating earnings as a percentage of sales
202420 %31 %27 %27 %33 %28 %
202329 %37 %28 %29 %35 %30 %

Components of net sales change by geographic region for the Contractor segment were as follows:
Three MonthsTwelve Months
Volume and PriceAcquisitionsCurrencyTotalVolume and PriceAcquisitionsCurrencyTotal
Americas(5)%3%0%(2)%(2)%1%0%(1)%
EMEA(3)%13%0%10%(1)%3%0%2%
Asia Pacific10%25%(1)%34%6%6%(2)%10%
Consolidated(3)%7%(1)%3%(1)%2%(1)%0%
Sales from acquired operations more than offset continued weakness in North American construction markets and led to a 3 percent increase in sales in the Contractor segment for the fourth quarter. The operating margin rate in the fourth quarter and year was 9 percentage points and 2 percentage points lower, respectively, than the same periods last year due to higher product costs on lower sales volumes, the unfavorable effects of lower margin rates of acquired operations, and litigation costs associated with a trial that concluded in December of 2024.

Components of net sales change by geographic region for the Industrial segment were as follows:
Three MonthsTwelve Months
Volume and PriceAcquisitionsCurrencyTotalVolume and PriceAcquisitionsCurrencyTotal
Americas(8)%0%(1)%(9)%4%0%0%4%
EMEA(10)%0%0%(10)%(4)%0%0%(4)%
Asia Pacific(24)%0%(1)%(25)%(22)%0%(2)%(24)%
Consolidated(13)%0%(1)%(14)%(6)%0%(1)%(7)%
Industrial segment sales decreased in all applications for the quarter and year due to weakened global industrial economic activity and the timing of powder finishing system sales. The operating margin rate for this segment decreased 6 percentage points and 2 percentage points, respectively, for the fourth quarter and year due to higher product costs, business reorganization expenses and the unfavorable effects of product and channel mix.



Page 4 GRACO

Components of net sales change by geographic region for the Process segment were as follows:
Three MonthsTwelve Months
Volume and PriceAcquisitionsCurrencyTotalVolume and PriceAcquisitionsCurrencyTotal
Americas7%0%0%7%(3)%0%0%(3)%
EMEA(7)%0%1%(6)%(10)%0%1%(9)%
Asia Pacific(12)%0%0%(12)%(20)%0%(1)%(21)%
Consolidated0%0%0%0%(8)%0%0%(8)%
Process segment sales were flat in the fourth quarter as sales growth in the Americas from all product applications offset declines in EMEA and Asia Pacific. Although the rate of decline slowed in the fourth quarter, sales decreased in all regions and most product applications for the year. The operating margin rate for this segment decreased approximately 1 percentage point for the quarter and 2 percentage points for the year as price realization was more than offset by unfavorable expense leverage on lower sales volume.

Outlook
"We are initiating a full year outlook for 2025 of low single-digit sales growth on an organic, constant currency basis,” said Sheahan. “Incoming orders were consistent through much of the year, including the fourth quarter. Demand in China and for semiconductor products appear to have stabilized, and we are expecting growth in these areas in 2025. Our reorganization into global businesses, centered around common customers and distributors, has been completed and our teams are positioned to drive incremental profitable growth as a result. Our acquisition pipeline is solid and we are hopeful that we will see actionable opportunities in the coming year. Graco remains strong with excellent employees who remain committed to our core growth strategies of developing new products, expanding distribution, seeking adjacent markets and new geographies, and pursuing strategic acquisitions.”
2025 Change in Organizational Structure
As previously announced, effective January 1, 2025, the Company has classified its business into three reportable segments: Contractor, Industrial and Expansion Markets.

•The Industrial segment consists of the newly formed Industrial Division and the Powder Division. The Company’s former Industrial and Lubrication Equipment Divisions, along with the Process Transfer Equipment business that was part of the Company’s former Process Division, were combined to form the new global Industrial Division. The Powder Division remains unchanged.
•The Expansion Markets segment consists of the Expansion Markets Division and will focus on driving inorganic growth in new and adjacent markets. The Company’s environmental, semiconductor, high-pressure valves and electric motors businesses, together with select future ventures and acquisitions, reside within this division.
•The Contractor segment, consisting of the Contractor Division, remains unchanged as a reporting segment relative to prior periods.

Segment operating results will be reported under the new organizational structure for the first quarter of 2025. Segment information recast to conform to the new organizational structure is available as unaudited supplemental financial information on the Company’s website at www.graco.com.



Page 5 GRACO

Financial Results Adjusted for Comparability
Excluding the impacts of business reorganization charges, excess tax benefits from stock option exercises, impairment charges, contingent consideration fair value adjustments, pension settlement losses and certain non-recurring tax provision adjustments presents a more consistent basis for comparison of financial results. A calculation of the non-GAAP adjusted measurements of operating earnings, earnings before income taxes, income taxes, effective income tax rates, net earnings and diluted earnings per share follows (in millions except per share amounts):
Three Months EndedTwelve Months Ended
Dec 27,
2024		Dec 29,
2023		Dec 27,
2024		Dec 29,
2023
Operating earnings, as reported$130.0 $169.9 $570.1 $646.8 
Contingent consideration— — — (8.6)
Impairment— — — 7.8 
Business reorganization7.7 — 7.7 — 
Operating earnings, adjusted$137.7 $169.9 $577.8 $646.0 
Earnings before income taxes$132.5 $127.6 $589.3 $608.8 
Pension settlement loss— 42.1 — 42.1 
Contingent consideration— — — (8.6)
Impairment— — — 7.8 
Business reorganization7.7 — 7.7 — 
Earnings before income taxes, adjusted$140.2 $169.7 $597.0 $650.1 
Income taxes, as reported$23.8 $17.6 $103.2 $102.3 
Pension settlement tax effect— 8.8 — 8.8 
Other non-recurring tax benefit— 4.8 — 4.8 
Excess tax benefit from option exercises4.5 1.4 14.9 10.3 
Business reorganization tax effect1.8 — 1.8 — 
Income taxes, adjusted$30.1 $32.6 $119.9 $126.2 
Effective income tax rate
   As reported17.9 %13.8 %17.5 %16.8 %
   Adjusted21.5 %19.2 %20.1 %19.4 %
Net Earnings, as reported$108.7 $110.0 $486.1 $506.5 
Pension settlement loss, net— 33.3 — 33.3 
Contingent consideration— — — (8.6)
Impairment— — — 7.8 
Other non-recurring tax benefit— (4.8)— (4.8)
Excess tax benefit from option exercises(4.5)(1.4)(14.9)(10.3)
Business reorganization5.9 — 5.9 — 
Net Earnings, adjusted$110.1 $137.1 $477.1 $523.9 
Weighted Average Diluted Shares172.6 171.8 172.4 172.2 
Diluted Earnings per Share
   As reported$0.63 $0.64 $2.82 $2.94 
   Adjusted$0.64 $0.80 $2.77 $3.04 



Page 6 GRACO


Cautionary Statement Regarding Forward-Looking Statements

The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation Reform Act of 1995 and is filing this Cautionary Statement in order to do so. From time to time various forms filed by our Company with the Securities and Exchange Commission, including our Form 10-K, Form 10-Qs and Form 8-Ks, and other disclosures, including our 2023 Overview report, press releases, earnings releases, analyst briefings, conference calls and other written documents or oral statements released by our Company, may contain forward-looking statements. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” and similar expressions, and reflect our Company’s expectations concerning the future. All forecasts and projections are forward-looking statements. Forward-looking statements are based upon currently available information, but various risks and uncertainties may cause our Company’s actual results to differ materially from those expressed in these statements. The Company undertakes no obligation to update these statements in light of new information or future events.

Future results could differ materially from those expressed, due to the impact of changes in various factors. These risk factors include, but are not limited to, risks relating to the demand for our products and the level of commercial and industrial activity worldwide; changes in currency translation rates; international and domestic political instability; interest rate fluctuations and changes in credit markets; global sourcing of materials; interruptions of or intrusions into our information systems; intellectual property rights; the use of generative artificial intelligence; conducting business internationally; catastrophic events; our ability to attract, develop and retain qualified personnel; public health crises; our growth strategies and acquisitions; potential goodwill impairment; our ability to compete effectively; our dependence on a few large customers; our dependence on cyclical industries; changes in laws and regulations; climate-related laws, regulations and accords; environmental, social and governance-related expectations and requirements; compliance with anti-corruption and trade laws; changes in tax rates or the adoption of new tax legislation; and costs associated with legal proceedings. Please refer to Item 1A of our Annual Report on Form 10-K for fiscal year 2023 (and the most recent Form 10-Q) for a more comprehensive discussion of these and other risk factors. These reports are available on the Company’s website at www.graco.com and the Securities and Exchange Commission’s website at www.sec.gov. Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.

Investors should realize that factors other than those identified above and in Item 1A of our Annual Report on Form 10-K for fiscal year 2023 might prove important to the Company’s future results. It is not possible for management to identify each and every factor that may have an impact on the Company’s operations in the future as new factors can develop from time to time.

Conference Call

Graco management will hold a conference call, including slides via webcast, with analysts and institutional investors on Tuesday, January 28, 2025, at 11 a.m. ET, 10 a.m. CT, to discuss Graco’s fourth quarter results.

A real-time listen-only webcast of the conference call will be broadcast by Nasdaq. Individuals can access the call and view the slides on the Company’s website at www.graco.com. Listeners should go to the website at least 15 minutes prior to the live conference call to install any necessary audio software.

About Graco

Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-


Page 7 GRACO

based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.


Page 8 GRACO

GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)
(In thousands except per share amounts)
Three Months EndedTwelve Months Ended
Dec 27,
2024		Dec 29,
2023		Dec 27,
2024		Dec 29,
2023
Net Sales$548,672 $566,643 $2,113,316 $2,195,606 
Cost of products sold269,392 266,701 990,855 1,034,585 
Gross Profit279,280 299,942 1,122,461 1,161,021 
Product development22,154 21,240 87,230 82,822 
Selling, marketing and distribution72,967 66,455 273,741 260,712 
General and administrative54,140 42,313 191,392 171,444 
Contingent consideration— — — (8,600)
Impairment— — — 7,800 
Operating Earnings130,019 169,934 570,098 646,843 
Interest expense794 656 2,828 5,191 
Other (income) expense, net(3,257)41,728 (22,013)32,850 
Earnings Before Income Taxes132,482 127,550 589,283 608,802 
Income taxes23,773 17,598 103,199 102,291 
Net Earnings$108,709 $109,952 $486,084 $506,511 
Net Earnings per Common Share
Basic$0.64 $0.65 $2.88 $3.01 
Diluted$0.63 $0.64 $2.82 $2.94 
Weighted Average Number of Shares
Basic169,135 168,061 168,884 168,442 
Diluted172,577 171,788 172,405 172,199 

SEGMENT INFORMATION (Unaudited)
(In thousands)
Three Months EndedTwelve Months Ended
Dec 27,
2024		Dec 29,
2023		Dec 27,
2024		Dec 29,
2023
Net Sales
 Contractor$246,889 $238,789 $988,865 $985,675 
 Industrial165,661 191,985 619,653 662,785 
 Process136,122 135,869 504,798 547,146 
 Total$548,672 $566,643 $2,113,316 $2,195,606 
Operating Earnings
 Contractor$48,589 $69,243 $270,144 $285,394 
 Industrial51,609 71,098 201,488 234,054 
 Process36,961 38,086 141,732 165,273 
 Unallocated corporate (expense)(7,140)(8,493)(43,266)(38,678)
 Contingent consideration— — — 8,600 
 Impairment— — — (7,800)
 Total$130,019 $169,934 $570,098 $646,843 



Page 9 GRACO

GRACO INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)
(In thousands)
Dec 27,
2024		Dec 29,
2023
ASSETS
Current Assets
Cash and cash equivalents$675,336 $537,951 
Accounts receivable, less allowances of $6,000 and $5,300362,533 354,439 
Inventories404,676 438,349 
Other current assets54,896 35,070 
Total current assets1,497,441 1,365,809 
Property, Plant and Equipment, net771,656 741,713 
Goodwill487,468 370,228 
Other Intangible Assets, net233,306 126,258 
Operating Lease Assets19,678 18,768 
Deferred Income Taxes46,910 61,381 
Other Assets82,753 37,850 
Total Assets$3,139,212 $2,722,007 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Notes payable to banks$28,537 $30,036 
Trade accounts payable60,816 72,214 
Salaries and incentives58,169 64,802 
Dividends payable46,558 42,789 
Other current liabilities211,728 185,359 
Total current liabilities405,808 395,200 
Retirement Benefits and Deferred Compensation80,381 80,347 
Operating Lease Liabilities12,278 11,785 
Deferred Income Taxes37,822 8,215 
Other Non-current Liabilities18,788 2,235 
Shareholders’ Equity
Common stock169,394 167,946 
Additional paid-in-capital955,051 863,336 
Retained earnings1,509,264 1,227,938 
Accumulated other comprehensive loss(49,574)(34,995)
Total shareholders’ equity2,584,135 2,224,225 
Total Liabilities and Shareholders’ Equity$3,139,212 $2,722,007 




Page 10 GRACO

GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands)
Year Ended
 Dec 27,
2024		Dec 29,
2023
Cash Flows From Operating Activities
Net Earnings$486,084 $506,511 
Adjustments to reconcile net earnings to net cash
provided by operating activities
Depreciation and amortization86,749 74,321 
Deferred income taxes6,060 (8,502)
Share-based compensation31,892 30,229 
Pension settlement loss— 42,129 
Contingent consideration— (8,600)
Impairment— 7,800 
Change in
Accounts receivable10,251 (3,245)
Inventories55,836 42,716 
Trade accounts payable(13,298)(12,348)
Salaries and incentives(12,187)(2,158)
Retirement benefits and deferred compensation(14,171)(13,661)
Other accrued liabilities(11,242)(5,269)
Other(4,274)1,094 
Net cash provided by operating activities621,700 651,017 
Cash Flows From Investing Activities
Property, plant and equipment additions(106,737)(184,775)
Acquisition of businesses, net of cash acquired(241,767)— 
Other5,689 (499)
Net cash used in investing activities(342,815)(185,274)
Cash Flows From Financing Activities
Borrowings (payments) on short-term lines of credit, net(766)9,725 
Payments on long-term debt and lines of credit— (75,000)
Payments of debt issuance costs(1,707)(1,025)
Common stock issued70,659 60,182 
Common stock repurchased(31,350)(102,344)
Taxes paid related to net share settlement of equity awards(4,611)(1,225)
Cash dividends paid(172,088)(158,323)
Net cash used in financing activities(139,863)(268,010)
Effect of exchange rate changes on cash(1,637)1,022 
Net increase in cash and cash equivalents137,385 198,755 
Cash and Cash Equivalents
Beginning of year537,951 339,196 
End of year$675,336 $537,951 


# # #

v3.24.4
Document and Entity Information Document
Jan. 27, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 27, 2025
Entity Registrant Name Graco Inc.
Entity Incorporation, State or Country Code MN
Entity File Number 001-09249
Entity Tax Identification Number 41-0285640
Entity Address, Address Line One 88 – 11th Avenue Northeast
Entity Address, City or Town Minneapolis,
Entity Address, State or Province MN
Entity Address, Postal Zip Code 55413
City Area Code (612)
Local Phone Number 623-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol GGG
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000042888
Document Fiscal Year Focus 2024
Document Fiscal Period Focus FY
Amendment Flag false
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