0000042888-26-000098 | 10-Q | XBRL Viewer

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Fair Value (Details) - USD ($) $ in Thousands	Mar. 27, 2026	Dec. 26, 2025
Assets
Total assets at fair value	$ 27,800	$ 28,893
Liabilities
Total liabilities at fair value	9,974	10,253
Level 2
Assets
Cash surrender value of life insurance	27,682	28,893
Forward exchange contracts	118	0
Liabilities
Deferred compensation	8,357	8,336
Forward exchange contracts	0	268
Level 3
Liabilities
Contingent consideration	$ 1,617	$ 1,649

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Preparation The consolidated balance sheet of Graco Inc. and subsidiaries (the “Company”) as of March 27, 2026 and the related statements of earnings, comprehensive income and shareholders' equity for the three months ended March 27, 2026 and March 28, 2025, and cash flows for the three months ended March 27, 2026 and March 28, 2025 have been prepared by the Company and have not been audited. In the opinion of management, these consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position of the Company as of March 27, 2026, and the results of operations and cash flows for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. Therefore, these statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 26, 2025 (the "2025 Annual Report"). The results of operations for interim periods are not necessarily indicative of results that will be realized for the full fiscal year.

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared per share (in dollars per share)	$ 0.295	$ 0.275

Retirement Benefits

3 Months Ended

Mar. 27, 2026

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Retirement Benefits

The components of net periodic benefit cost for retirement benefit plans were as follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Pension Benefits
Service cost	$	1,166	$	1,253
Interest cost	2,648		2,143
Expected return on assets	(3,275)		(2,903)
Amortization and other	(78)		164
Net periodic benefit cost	$	461	$	657
Postretirement Medical
Service cost	$	75	$	75
Interest cost	225		200

Net periodic benefit cost	$	300	$	275

Receivables and Credit Losses (Tables)

3 Months Ended

Mar. 27, 2026

Credit Loss [Abstract]

Accounts Receivable, Allowance for Credit Loss

Following is a summary of activity for credit losses (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Balance, beginning	$	5,264	$	4,973
Additions charged to costs and expenses	644		231
Deductions from reserves (1)	(297)		(2)
Other (deductions) additions (2)	(6)		158
Balance, ending	$	5,605	$	5,360

(1) Represents amounts determined to be uncollectible and charged against reserves, net of collections on accounts previously charged against reserves.

(2) Includes effects of foreign currency translation.

Segment Reporting Information - Operations and Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Segment Reporting [Line Items]
Net Sales	$ 540,144	$ 528,284
Cost of products sold	259,503	250,551
Gross Profit	280,641	277,733
Operating Earnings	137,775	144,013
Interest expense	836	713
Other (income) expense, net	(3,149)	(8,174)
Earnings Before Income Taxes	140,088	151,474
Operating Segments
Segment Reporting [Line Items]
Operating Earnings	147,686	151,590
Operating Segments \| Contractor
Segment Reporting [Line Items]
Net Sales	259,981	255,032
Cost of products sold	133,643	131,883
Gross Profit	126,338	123,149
Operating expenses	64,103	61,219
Operating Earnings	62,235	61,930
Operating Segments \| Industrial
Segment Reporting [Line Items]
Net Sales	240,412	231,653
Cost of products sold	104,637	96,824
Gross Profit	135,775	134,829
Operating expenses	59,968	55,234
Operating Earnings	75,807	79,595
Operating Segments \| Expansion Markets
Segment Reporting [Line Items]
Net Sales	39,751	41,599
Cost of products sold	19,172	20,163
Gross Profit	20,579	21,436
Operating expenses	10,935	11,371
Operating Earnings	9,644	10,065
Unallocated corporate expense
Segment Reporting [Line Items]
Operating expenses	$ 9,911	$ 7,577

Intangible Assets - Goodwill Rollforward (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2026 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 585,304
Adjustments from business acquisitions	84
Foreign currency translation	(4,430)
Ending balance	580,958
Contractor
Goodwill [Roll Forward]
Beginning balance	238,575
Adjustments from business acquisitions	(170)
Foreign currency translation	(2,744)
Ending balance	235,661
Industrial
Goodwill [Roll Forward]
Beginning balance	275,263
Adjustments from business acquisitions	254
Foreign currency translation	(1,686)
Ending balance	273,831
Expansion Markets
Goodwill [Roll Forward]
Beginning balance	71,466
Adjustments from business acquisitions	0
Foreign currency translation	0
Ending balance	$ 71,466

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Share-Based Awards - Options Fair Value Inputs (Details) - Stock Option - $ / shares	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Fair Value Assumptions and Methodology [Abstract]
Expected life in years	6 years 8 months 12 days	6 years 7 months 6 days
Interest rate	3.80%	4.40%
Volatility	24.80%	26.20%
Dividend yield	1.30%	1.30%
Weighted average fair value per share (in dollars per share)	$ 27.20	$ 26.80

Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2026	Dec. 26, 2025
Finite Life
Accumulated amortization	$ (70,962)	$ (177,826)
Indefinite Life
Total Cost	353,653	473,086
Total Foreign Currency Translation	9,945	8,591
Total Book Value	292,636	303,851
Trade Names
Indefinite Life
Cost	107,034	107,034
Indefinite-lived Intangible Assets, Foreign Currency Translation Gain (Loss)	6,829	7,950
Book value	113,863	114,984
Customer Relationships
Finite Life
Cost	201,562	316,962
Accumulated amortization	(60,190)	(165,150)
Foreign currency translation	1,745	(877)
Book value	$ 143,117	$ 150,935
Weighted average life in years	14 years	13 years
Patents and Proprietary Technology
Finite Life
Cost	$ 40,271	$ 44,304
Accumulated amortization	(8,109)	(10,649)
Foreign currency translation	1,352	1,464
Book value	$ 33,514	$ 35,119
Weighted average life in years	10 years	10 years
Trademarks, Trade Names and Other
Finite Life
Cost	$ 4,786	$ 4,786
Accumulated amortization	(2,663)	(2,027)
Foreign currency translation	19	54
Book value	$ 2,142	$ 2,813
Weighted average life in years	3 years	2 years

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Earnings Per Share [Abstract]
Net earnings available to common shareholders	$ 118,506	$ 124,101
Weighted average shares outstanding for basic earnings per share (in shares)	165,632	168,560
Dilutive effect of stock options computed using the treasury stock method and the average market price (in shares)	2,702	3,021
Weighted average shares outstanding for diluted earnings per share (in shares)	168,334	171,581
Basic earnings per share (in dollars per share)	$ 0.72	$ 0.74
Diluted earnings per share (in dollars per share)	$ 0.70	$ 0.72
Anti-dilutive shares not included in diluted earnings per share computation (in shares)	2,591	1,860

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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	Mar. 27, 2026	Mar. 28, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years	1 year	1 year
Interest rate	3.50%	4.10%
Volatility	20.60%	19.60%
Dividend yield	1.20%	1.30%
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+ Details

Segment Information

3 Months Ended

Mar. 27, 2026

Segment Reporting [Abstract]

Segment Information

The Company classifies its business into three reportable segments: Contractor, Industrial and Expansion Markets.

Segment information follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Contractor
Net Sales	$	259,981	$	255,032
Cost of products sold	133,643		131,883
Gross Profit	126,338		123,149
Operating expenses	64,103		61,219
Contractor Operating Earnings	$	62,235	$	61,930

Industrial
Net Sales	$	240,412	$	231,653
Cost of products sold	104,637		96,824
Gross Profit	135,775		134,829
Operating expenses	59,968		55,234
Industrial Operating Earnings	$	75,807	$	79,595


Expansion Markets
Net Sales	$	39,751	$	41,599
Cost of products sold	19,172		20,163
Gross Profit	20,579		21,436
Operating expenses	10,935		11,371
Expansion Markets Operating Earnings	$	9,644	$	10,065

Reportable Segment Operating Earnings Total	$	147,686	$	151,590
Unallocated corporate expense	9,911		7,577


Operating Earnings	137,775		144,013
Interest expense	836		713
Other (income) expense, net	(3,149)		(8,174)
Earnings Before Income Taxes	$	140,088	$	151,474

Geographic information follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Net Sales (based on customer location)
United States	$	291,197	$	282,557
Other countries	248,947		245,727
Total	$	540,144	$	528,284


	March 27, 2026		December 26, 2025
Long-lived Assets
United States	$	592,718	$	600,011
Other countries	152,843		155,053
Total	$	745,561	$	755,064

- Definition

The entire disclosure for segment reporting.

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+ Details

Inventories (Details) - USD ($) $ in Thousands	Mar. 27, 2026	Dec. 26, 2025
Inventory, Net [Abstract]
Finished products and components	$ 181,081	$ 175,684
Products and components in various stages of completion	133,070	123,866
Raw materials and purchased components	211,302	216,559
Subtotal	525,453	516,109
Reduction to LIFO cost	(117,806)	(114,971)
Total	$ 407,647	$ 401,138

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Intangible Asset, Goodwill and Other [Abstract]
Amortization of intangible assets	$ 8.0	$ 7.0

- Definition

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

+ References

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-Section 45
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+ Details

Other Current Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Accrued Liabilities, Current [Abstract]
Deferred revenue	$ 35	$ 30

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 27, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Retirement Benefits (Tables)

3 Months Ended

Mar. 27, 2026

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for retirement benefit plans were as follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Pension Benefits
Service cost	$	1,166	$	1,253
Interest cost	2,648		2,143
Expected return on assets	(3,275)		(2,903)
Amortization and other	(78)		164
Net periodic benefit cost	$	461	$	657
Postretirement Medical
Service cost	$	75	$	75
Interest cost	225		200

Net periodic benefit cost	$	300	$	275

Receivables and Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025	Dec. 26, 2025
Credit Loss [Abstract]
Accounts Receivable, before Allowance for Credit Loss	$ 372,000		$ 376,000
Other Receivables	18,000		$ 18,000
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning	5,264	$ 4,973
Additions (reversals) charged to costs and expenses	(644)	(231)
Deductions from reserves	(297)	(2)
Other (deductions) additions	(6)	158
Balance, ending	$ 5,605	$ 5,360

Other Current Liabilities

3 Months Ended

Mar. 27, 2026

Accrued Liabilities, Current [Abstract]

Other Current Liabilities

Components of other current liabilities were as follows (in thousands):


	March 27, 2026		December 26, 2025
Accrued self-insurance retentions	$	8,044	$	8,013
Accrued warranty and service liabilities	20,954		21,103
Accrued trade promotions	6,522		7,511
Payable for employee stock purchases	4,471		15,546
Customer advances and deferred revenue	91,669		93,995
Income taxes payable	21,554		15,493
Tax payable, other	17,563		14,693
Right of return refund liability	14,440		15,055
Operating lease liabilities, current	8,074		8,769


Other	33,703		41,689
Total	$	226,994	$	241,867

A liability is established for estimated future warranty and service claims that relate to current and prior period sales. The Company estimates warranty costs based on historical claim experience and other factors, including evaluating specific product warranty issues. Following is a summary of activity in accrued warranty and service liabilities (in thousands):


Balance, December 26, 2025	$	21,103

Charged to expense	2,273
Margin on parts sales reversed	962
Reductions for claims settled	(3,384)
Balance, March 27, 2026	$	20,954

Customer Advances and Deferred Revenue

Revenue is deferred when cash payments are received or due in advance of performance, including amounts which are refundable. This is also the case for services associated with certain product sales. During the three months ended March 27, 2026, we recognized $35 million that was included in deferred revenue at December 26, 2025. During the three months ended March 28, 2025, we recognized $30 million that was included in deferred revenue at December 27, 2024.

Other Current Liabilities - Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 27, 2026	Dec. 26, 2025
Other Current Liabilities Details [Abstract]
Accrued self-insurance retentions	$ 8,044	$ 8,013
Accrued warranty and service liabilities	20,954	21,103
Accrued trade promotions	6,522	7,511
Payable for employee stock purchases	4,471	15,546
Customer advances and deferred revenue	91,669	93,995
Income taxes payable	21,554	15,493
Tax payable, other	17,563	14,693
Right of return refund liability	14,440	15,055
Operating lease liabilities, current	8,074	8,769
Other	33,703	41,689
Total	$ 226,994	$ 241,867

Intangible Assets

3 Months Ended

Mar. 27, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Assets

Components of other intangible assets were as follows (dollars in thousands):


	Finite Life						Indefinite Life
	Customer Relationships		Patents and Proprietary Technology		Trademarks, Trade Names and Other		Trade Names		Total
As of March 27, 2026
Cost	$	201,562	$	40,271	$	4,786	$	107,034	$	353,653
Accumulated amortization	(60,190)		(8,109)		(2,663)		—		(70,962)
Foreign currency translation	1,745		1,352		19		6,829		9,945
Book value	$	143,117	$	33,514	$	2,142	$	113,863	$	292,636
Weighted average life in years	14		10		3		N/A


As of December 26, 2025
Cost	$	316,962	$	44,304	$	4,786	$	107,034	$	473,086
Accumulated amortization	(165,150)		(10,649)		(2,027)		—		(177,826)
Foreign currency translation	(877)		1,464		54		7,950		8,591
Book value	$	150,935	$	35,119	$	2,813	$	114,984	$	303,851
Weighted average life in years	13		10		2		N/A

Amortization of intangibles for the year to date was $8 million in 2026 and $7 million in 2025. Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):


	2026 (Remainder)		2027		2028		2029		2030		Thereafter
Estimated Amortization Expense	$	17,068	$	19,671	$	17,551	$	16,954	$	16,176	$	91,353

Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):


	Contractor		Industrial		Expansion Markets		Total
Balance, December 26, 2025	$	238,575	$	275,263	$	71,466	$	585,304
Adjustments from business acquisitions	(170)		254		—		84

Foreign currency translation	(2,744)		(1,686)		—		(4,430)
Balance, March 27, 2026	$	235,661	$	273,831	$	71,466	$	580,958

Cover - shares	3 Months Ended
Cover - shares	Mar. 27, 2026	Apr. 08, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 27, 2026
Document Transition Report	false
Entity File Number	001-09249
Entity Registrant Name	GRACO INC.
Entity Incorporation, State	MN
Entity Tax Identification Number	41-0285640
Entity Address, Address Description	88 - 11th Avenue N.E.
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
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	GGG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		165,968,177
Amendment Flag	false
Entity Central Index Key	0000042888
Current Fiscal Year End Date	--12-26
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 27, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Earnings per Share (Tables)

3 Months Ended

Mar. 27, 2026

Earnings Per Share [Abstract]

Computation of Basic and Diluted EPS

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended
	March 27, 2026		March 28, 2025
Net earnings available to common shareholders	$	118,506	$	124,101
Weighted average shares outstanding for basic earnings per share	165,632		168,560
Dilutive effect of stock options computed using the treasury stock method and the average market price	2,702		3,021
Weighted average shares outstanding for diluted earnings per share	168,334		171,581
Basic earnings per share	$	0.72	$	0.74
Diluted earnings per share	$	0.70	$	0.72

Anti-dilutive shares not included in diluted earnings per share computation	2,591		1,860

Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Mar. 27, 2026 USD ($)
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]
2026 (Remainder)	$ 17,068
2027	19,671
2028	17,551
2029	16,954
2030	16,176
Thereafter	$ 91,353

Other Current Liabilities - Accrued Warranty Activity (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2026 USD ($)
Activity In Accrued Warranty And Service Liabilities Abstract
Balance, beginning of year	$ 21,103
Charged to expense	2,273
Margin on parts sales reversed	962
Reductions for claims settled	(3,384)
Balance, end of period	$ 20,954

Segment Information (Tables)

3 Months Ended

Mar. 27, 2026

Segment Reporting [Abstract]

Segment Reporting - Operations and Assets

Segment information follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Contractor
Net Sales	$	259,981	$	255,032
Cost of products sold	133,643		131,883
Gross Profit	126,338		123,149
Operating expenses	64,103		61,219
Contractor Operating Earnings	$	62,235	$	61,930

Industrial
Net Sales	$	240,412	$	231,653
Cost of products sold	104,637		96,824
Gross Profit	135,775		134,829
Operating expenses	59,968		55,234
Industrial Operating Earnings	$	75,807	$	79,595


Expansion Markets
Net Sales	$	39,751	$	41,599
Cost of products sold	19,172		20,163
Gross Profit	20,579		21,436
Operating expenses	10,935		11,371
Expansion Markets Operating Earnings	$	9,644	$	10,065

Reportable Segment Operating Earnings Total	$	147,686	$	151,590
Unallocated corporate expense	9,911		7,577


Operating Earnings	137,775		144,013
Interest expense	836		713
Other (income) expense, net	(3,149)		(8,174)
Earnings Before Income Taxes	$	140,088	$	151,474

Segment Reporting - Geographic

Geographic information follows (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Net Sales (based on customer location)
United States	$	291,197	$	282,557
Other countries	248,947		245,727
Total	$	540,144	$	528,284


	March 27, 2026		December 26, 2025
Long-lived Assets
United States	$	592,718	$	600,011
Other countries	152,843		155,053
Total	$	745,561	$	755,064

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Segment Reporting Information - Geographic (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025	Dec. 26, 2025
Geographic Information [Line Items]
Net Sales	$ 540,144	$ 528,284
Long-lived Assets	745,561		$ 755,064
United States
Geographic Information [Line Items]
Net Sales	291,197	282,557
Long-lived Assets	592,718		600,011
Other countries
Geographic Information [Line Items]
Net Sales	248,947	$ 245,727
Long-lived Assets	$ 152,843		$ 155,053

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Share-Based Awards

3 Months Ended

Mar. 27, 2026

Share-Based Payment Arrangement, Additional Disclosure [Abstract]

Share-Based Awards

Options on common shares granted and outstanding, as well as the weighted average exercise price, are shown below (in thousands, except exercise prices):


	Option Shares	Weighted Average Exercise Price		Options Exercisable	Weighted Average Exercise Price
Outstanding, December 26, 2025	9,786	$	61.38	7,017	$	52.94
Granted	921	93.43
Exercised	(804)	38.94
Canceled	(37)	82.49
Outstanding, March 27, 2026	9,866	$	66.07	7,054	$	57.48

The Company recognized year-to-date share-based compensation of $8 million in 2026 and $7 million in 2025. As of March 27, 2026, there was $42 million of unrecognized compensation cost related to unvested options, expected to be recognized over a weighted average period of 3.1 years.

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions and results:


	Three Months Ended
	March 27, 2026			March 28, 2025
Expected life in years	6.7			6.6
Interest rate	3.8		%	4.4		%
Volatility	24.8		%	26.2		%
Dividend yield	1.3		%	1.3		%
Weighted average fair value per share	$	27.20		$	26.80

Under the Company’s Employee Stock Purchase Plan, the Company issued 235,000 shares in 2026 and 246,000 shares in 2025. 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 27, 2026			March 28, 2025
Expected life in years	1.0			1.0
Interest rate	3.5		%	4.1		%
Volatility	20.6		%	19.6		%
Dividend yield	1.2		%	1.3		%
Weighted average fair value per share	$	25.69		$	19.65

Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Income Statement [Abstract]
Net Sales	$ 540,144	$ 528,284
Cost of products sold	259,503	250,551
Gross Profit	280,641	277,733
Product development	19,974	19,375
Selling, marketing and distribution	70,019	67,211
General and administrative	52,873	47,134
Operating Earnings	137,775	144,013
Interest expense	836	713
Other (income) expense, net	(3,149)	(8,174)
Earnings Before Income Taxes	140,088	151,474
Income taxes	21,582	27,373
Net Earnings	$ 118,506	$ 124,101
Net Earnings per Common Share
Basic (in dollars per share)	$ 0.72	$ 0.74
Diluted (in dollars per share)	$ 0.70	$ 0.72

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 27, 2026	Dec. 26, 2025
Current Assets
Cash and cash equivalents	$ 712,171	$ 624,083
Accounts receivable, less allowances of $6,500 and $6,000	390,367	393,753
Inventories	407,647	401,138
Other current assets	56,380	52,907
Total current assets	1,566,565	1,471,881
Property, Plant and Equipment, net	745,561	755,064
Goodwill	580,958	585,304
Other Intangible Assets, net	292,636	303,851
Operating Lease Assets	24,708	26,073
Deferred Income Taxes	29,001	35,975
Other Assets	95,339	96,122
Total Assets	3,334,768	3,274,270
Current Liabilities
Notes payable to banks	26,189	23,072
Current portion of long-term debt	1,122	1,624
Trade accounts payable	84,807	78,573
Salaries and incentives	52,589	73,420
Dividends payable	48,882	48,705
Other current liabilities	226,994	241,867
Total current liabilities	440,583	467,261
Retirement Benefits and Deferred Compensation	86,046	87,179
Operating Lease Liabilities	17,505	18,131
Deferred Income Taxes	37,481	36,708
Other Non-current Liabilities	10,755	11,060
Shareholders’ Equity
Common stock	165,907	165,150
Additional paid-in-capital	1,039,336	994,566
Retained earnings	1,511,649	1,456,710
Accumulated other comprehensive income	25,506	37,505
Total shareholders’ equity	2,742,398	2,653,931
Total Liabilities and Shareholders’ Equity	$ 3,334,768	$ 3,274,270

Receivables and Credit Losses

3 Months Ended

Mar. 27, 2026

Credit Loss [Abstract]

Receivables and Credit Losses

Accounts receivable includes trade receivables of $372 million and other receivables of $18 million as of March 27, 2026 and $376 million and $18 million of trade receivables and other receivables, respectively, as of December 26, 2025.

Allowance for Credit Losses

Following is a summary of activity for credit losses (in thousands):


	Three Months Ended
	March 27, 2026		March 28, 2025
Balance, beginning	$	5,264	$	4,973
Additions charged to costs and expenses	644		231
Deductions from reserves (1)	(297)		(2)
Other (deductions) additions (2)	(6)		158
Balance, ending	$	5,605	$	5,360

(1) Represents amounts determined to be uncollectible and charged against reserves, net of collections on accounts previously charged against reserves.

(2) Includes effects of foreign currency translation.

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
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-URI https://asc.fasb.org/1943274/2147479319/326-20-50-20

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479319/326-20-50-8

+ Details

Earnings per Share

3 Months Ended

Mar. 27, 2026

Earnings Per Share [Abstract]

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended
	March 27, 2026		March 28, 2025
Net earnings available to common shareholders	$	118,506	$	124,101
Weighted average shares outstanding for basic earnings per share	165,632		168,560
Dilutive effect of stock options computed using the treasury stock method and the average market price	2,702		3,021
Weighted average shares outstanding for diluted earnings per share	168,334		171,581
Basic earnings per share	$	0.72	$	0.74
Diluted earnings per share	$	0.70	$	0.72

Anti-dilutive shares not included in diluted earnings per share computation	2,591		1,860

Share-Based Awards (Tables)

3 Months Ended

Mar. 27, 2026

Share-Based Payment Arrangement, Additional Disclosure [Abstract]

Options Activity and Outstanding

Options on common shares granted and outstanding, as well as the weighted average exercise price, are shown below (in thousands, except exercise prices):


	Option Shares	Weighted Average Exercise Price		Options Exercisable	Weighted Average Exercise Price
Outstanding, December 26, 2025	9,786	$	61.38	7,017	$	52.94
Granted	921	93.43
Exercised	(804)	38.94
Canceled	(37)	82.49
Outstanding, March 27, 2026	9,866	$	66.07	7,054	$	57.48

Options Fair Value Inputs

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions and results:


	Three Months Ended
	March 27, 2026			March 28, 2025
Expected life in years	6.7			6.6
Interest rate	3.8		%	4.4		%
Volatility	24.8		%	26.2		%
Dividend yield	1.3		%	1.3		%
Weighted average fair value per share	$	27.20		$	26.80

ESPP Fair Value Inputs

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 27, 2026			March 28, 2025
Expected life in years	1.0			1.0
Interest rate	3.5		%	4.1		%
Volatility	20.6		%	19.6		%
Dividend yield	1.2		%	1.3		%
Weighted average fair value per share	$	25.69		$	19.65

Retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
Retirement Benefits (Details) - USD ($) $ in Thousands	Mar. 27, 2026	Mar. 28, 2025
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,166	$ 1,253
Interest cost	2,648	2,143
Expected return on assets	(3,275)	(2,903)
Amortization and other	(78)	164
Net periodic benefit cost	461	657
Postretirement Medical
Defined Benefit Plan Disclosure [Line Items]
Service cost	75	75
Interest cost	225	200
Net periodic benefit cost	$ 300	$ 275

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-Based Awards - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 8.0	$ 7.0
Unrecognized compensation cost	$ 42.0
Weighted average recognition period	3 years 1 month 6 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan shares issued	235,000	246,000
Stock purchase plan discount from market value	15.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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- Definition

Number of shares issued during the period as a result of an employee stock purchase plan.

+ References

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+ Details

Inventories

3 Months Ended

Mar. 27, 2026

Inventory, Net [Abstract]

Inventories

Major components of inventories were as follows (in thousands):


	March 27, 2026		December 26, 2025
Finished products and components	$	181,081	$	175,684
Products and components in various stages of completion	133,070		123,866
Raw materials and purchased components	211,302		216,559
Subtotal	525,453		516,109
Reduction to LIFO cost	(117,806)		(114,971)
Total	$	407,647	$	401,138

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance at Dec. 27, 2024	$ 2,584,135	$ 169,394	$ 955,051	$ 1,509,264	$ (49,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued	27,667	622	27,045
Shares repurchased	(238,089)	(2,798)	(15,774)	(219,517)
Stock compensation cost	6,333		6,333
Net earnings	124,101			124,101
Dividends declared	(46,393)			(46,393)
Other comprehensive loss	19,966				19,966
Ending balance at Mar. 28, 2025	2,477,720	167,218	972,655	1,367,455	(29,608)
Beginning balance at Dec. 26, 2025	2,653,931	165,150	994,566	1,456,710	37,505
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued	40,400	946	39,454
Shares repurchased	(15,955)	(189)	(1,141)	(14,625)
Stock compensation cost	6,999		6,999
Restricted stock issued	(542)		(542)
Net earnings	118,506			118,506
Dividends declared	(48,942)			(48,942)
Other comprehensive loss	(11,999)				(11,999)
Ending balance at Mar. 27, 2026	$ 2,742,398	$ 165,907	$ 1,039,336	$ 1,511,649	$ 25,506

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

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Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.

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Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Cash Flows From Operating Activities
Net Earnings	$ 118,506	$ 124,101
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	28,602	24,708
Deferred income taxes	8,324	3,200
Share-based compensation	7,549	7,353
Gain on sale of building	0	(4,737)
Change in
Accounts receivable	596	(6,258)
Inventories	(7,389)	(2,789)
Trade accounts payable	4,396	17,673
Salaries and incentives	(21,086)	(7,997)
Retirement benefits and deferred compensation	(612)	(648)
Other accrued liabilities	(9,692)	(23,243)
Other	(8,946)	(5,947)
Net cash provided by operating activities	120,248	125,416
Cash Flows From Investing Activities
Property, plant and equipment additions	(12,141)	(10,597)
Proceeds from sale of building	0	10,749
Acquisition of businesses, net of cash acquired	0	(10,454)
Other	81	(184)
Net cash used in investing activities	(12,060)	(10,486)
Cash Flows From Financing Activities
Borrowings (payments) on short-term lines of credit, net	2,792	(1,075)
Payments on long-term debt and lines of credit	(476)	0
Common stock issued	47,350	31,574
Common stock repurchased	(11,755)	(238,089)
Taxes paid related to net share settlement of equity awards	(7,492)	(3,907)
Cash dividends paid	(48,767)	(46,586)
Net cash used in financing activities	(18,348)	(258,083)
Effect of exchange rate changes on cash	(1,752)	3,955
Net increase (decrease) in cash and cash equivalents	88,088	(139,198)
Cash and Cash Equivalents
Beginning of year	624,083	675,336
End of period	$ 712,171	$ 536,138

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 118,506	$ 124,101
Components of other comprehensive (loss) income
Cumulative translation adjustment	(12,142)	19,903
Pension and postretirement medical liability adjustment	176	84
Income taxes - pension and postretirement medical liability adjustment	(33)	(21)
Other comprehensive (loss) income	(11,999)	19,966
Comprehensive Income	$ 106,507	$ 144,067

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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-Topic 942
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-Section 45
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-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

+ Details

Fair Value (Tables)

3 Months Ended

Mar. 27, 2026

Fair Value Disclosures [Abstract]

Fair Value Schedule

Assets and liabilities measured at fair value on a recurring basis and fair value measurement level were as follows (in thousands):


	Level	March 27, 2026		December 26, 2025
Assets
Cash surrender value of life insurance	2	$	27,682	$	28,893
Forward exchange contracts	2	118		—
Total assets at fair value		$	27,800	$	28,893
Liabilities
Contingent consideration	3	$	1,617	$	1,649
Deferred compensation	2	8,357		8,336
Forward exchange contracts	2	—		268
Total liabilities at fair value		$	9,974	$	10,253

Intangible Assets (Tables)

3 Months Ended

Mar. 27, 2026

Intangible Asset, Goodwill and Other [Abstract]

Other Intangible Assets

Components of other intangible assets were as follows (dollars in thousands):


	Finite Life						Indefinite Life
	Customer Relationships		Patents and Proprietary Technology		Trademarks, Trade Names and Other		Trade Names		Total
As of March 27, 2026
Cost	$	201,562	$	40,271	$	4,786	$	107,034	$	353,653
Accumulated amortization	(60,190)		(8,109)		(2,663)		—		(70,962)
Foreign currency translation	1,745		1,352		19		6,829		9,945
Book value	$	143,117	$	33,514	$	2,142	$	113,863	$	292,636
Weighted average life in years	14		10		3		N/A


As of December 26, 2025
Cost	$	316,962	$	44,304	$	4,786	$	107,034	$	473,086
Accumulated amortization	(165,150)		(10,649)		(2,027)		—		(177,826)
Foreign currency translation	(877)		1,464		54		7,950		8,591
Book value	$	150,935	$	35,119	$	2,813	$	114,984	$	303,851
Weighted average life in years	13		10		2		N/A

Future Amortization Expense

Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):


	2026 (Remainder)		2027		2028		2029		2030		Thereafter
Estimated Amortization Expense	$	17,068	$	19,671	$	17,551	$	16,954	$	16,176	$	91,353

Goodwill Rollforward

Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):


	Contractor		Industrial		Expansion Markets		Total
Balance, December 26, 2025	$	238,575	$	275,263	$	71,466	$	585,304
Adjustments from business acquisitions	(170)		254		—		84

Foreign currency translation	(2,744)		(1,686)		—		(4,430)
Balance, March 27, 2026	$	235,661	$	273,831	$	71,466	$	580,958

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Section 55
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Fair Value

3 Months Ended

Mar. 27, 2026

Fair Value Disclosures [Abstract]

Fair Value

Assets and liabilities measured at fair value on a recurring basis and fair value measurement level were as follows (in thousands):


	Level	March 27, 2026		December 26, 2025
Assets
Cash surrender value of life insurance	2	$	27,682	$	28,893
Forward exchange contracts	2	118		—
Total assets at fair value		$	27,800	$	28,893
Liabilities
Contingent consideration	3	$	1,617	$	1,649
Deferred compensation	2	8,357		8,336
Forward exchange contracts	2	—		268
Total liabilities at fair value		$	9,974	$	10,253

Contracts insuring the lives of certain employees who are eligible to participate in certain non-qualified pension and deferred compensation plans are held in trust. Cash surrender value of the contracts is based on performance measurement funds that shadow the deferral investment allocations made by participants in certain deferred compensation plans. The deferred compensation liability balances are valued based on amounts allocated by participants to the underlying performance measurement funds.

Contingent consideration liabilities represent the estimated value (using a probability-weighted expected return approach) of future payments to be made to previous owners of certain acquired businesses based on future revenues.

The fair value of variable rate borrowings approximates carrying value. The Company uses significant other observable inputs to estimate fair value (level 2 of the fair value hierarchy) based on the present value of future cash flows and rates that would be available for issuance of debt with similar terms and remaining maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
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-Topic 820
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Topic 820
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-Section 50
-Paragraph 6A
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Other Current Liabilities (Tables)

3 Months Ended

Mar. 27, 2026

Accrued Liabilities, Current [Abstract]

Components of Other Current Liabilities

Components of other current liabilities were as follows (in thousands):


	March 27, 2026		December 26, 2025
Accrued self-insurance retentions	$	8,044	$	8,013
Accrued warranty and service liabilities	20,954		21,103
Accrued trade promotions	6,522		7,511
Payable for employee stock purchases	4,471		15,546
Customer advances and deferred revenue	91,669		93,995
Income taxes payable	21,554		15,493
Tax payable, other	17,563		14,693
Right of return refund liability	14,440		15,055
Operating lease liabilities, current	8,074		8,769


Other	33,703		41,689
Total	$	226,994	$	241,867

Accrued Warranty Activity

Following is a summary of activity in accrued warranty and service liabilities (in thousands):


Balance, December 26, 2025	$	21,103

Charged to expense	2,273
Margin on parts sales reversed	962
Reductions for claims settled	(3,384)
Balance, March 27, 2026	$	20,954

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 27, 2026	Dec. 26, 2025
Statement of Financial Position [Abstract]
Allowance for Credits	$ 6.5	$ 6.0

Share-Based Awards - Options Activity and Outstanding (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 27, 2026	Dec. 26, 2025
Option Shares
Beginning (in shares)	9,786
Options granted (in shares)	921
Options exercised (in shares)	(804)
Options canceled (in shares)	(37)
Ending (in shares)	9,866
Weighted Average Exercise Price
Beginning (dollars per share)	$ 61.38
Granted (dollars per share)	93.43
Exercised (dollars per share)	38.94
Canceled (dollars per share)	82.49
Ending (dollars per share)	$ 66.07
Options exercisable (in shares)	7,054	7,017
Weighted average exercise price of exercisable options (dollars per share)	$ 57.48	$ 52.94

Inventories (Tables)

3 Months Ended

Mar. 27, 2026

Inventory, Net [Abstract]

Components of Inventories

Major components of inventories were as follows (in thousands):


	March 27, 2026		December 26, 2025
Finished products and components	$	181,081	$	175,684
Products and components in various stages of completion	133,070		123,866
Raw materials and purchased components	211,302		216,559
Subtotal	525,453		516,109
Reduction to LIFO cost	(117,806)		(114,971)
Total	$	407,647	$	401,138