10-Q Filing

BRADY CORP CIK: 746598 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000746598-19-000255`
Period End Date	20191031
Filing Date	20191121
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	brc-20191031x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 28 Cash Flow Statement 54 Comprehensive Income 18

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$192.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$181.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$295.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$279.07M	USD	Point-in-time
Accounts receivablenet	`AccountsReceivableNetCurrent`	$162.56M	USD	Point-in-time
Accounts receivablenet	`AccountsReceivableNetCurrent`	$158.11M	USD	Point-in-time
Inventories	`InventoryNet`	$119.61M	USD	Point-in-time
Inventories	`InventoryNet`	$120.04M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.06M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$593.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$573.28M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$110.05M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$112.56M	USD	Point-in-time
Goodwill	`Goodwill`	$411.33M	USD	Point-in-time
Goodwill	`Goodwill`	$410.99M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$36.12M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$34.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$7.45M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$7.30M	USD	Point-in-time
Operating leases assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating leases assets	`OperatingLeaseRightOfUseAsset`	$52.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.88M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.57M	USD	Point-in-time
Total	`Assets`	$1.23B	USD	Point-in-time
Total	`Assets`	$1.16B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$59.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$64.81M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$62.51M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$63.79M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.88M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.11M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$6.56M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$6.79M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$14.86M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$49.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$52.09M	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$50.14M	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$50.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$241.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$255.95M	USD	Point-in-time
Long-Term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$40.12M	USD	Point-in-time
Long-Term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$64.59M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$58.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$306.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$354.69M	USD	Point-in-time
Class A nonvoting common stockIssued 51,261,487 shares, and outstanding 49,764,799 and 49,458,841 shares, respectively	`ClassANonvotingCommonStockValueIssued`	$513.00K	USD	Point-in-time
Class A nonvoting common stockIssued 51,261,487 shares, and outstanding 49,764,799 and 49,458,841 shares, respectively	`ClassANonvotingCommonStockValueIssued`	$513.00K	USD	Point-in-time
Class B voting common stockIssued and outstanding, 3,538,628 shares	`ClassBVotingCommonStockValueIssued`	$35.00K	USD	Point-in-time
Class B voting common stockIssued and outstanding, 3,538,628 shares	`ClassBVotingCommonStockValueIssued`	$35.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$327.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$329.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$637.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$663.81M	USD	Point-in-time
Treasury stock1,496,688 and 1,802,646 shares, respectively, of Class A nonvoting common stock, at cost	`TreasuryStockValue`	$43.78M	USD	Point-in-time
Treasury stock1,496,688 and 1,802,646 shares, respectively, of Class A nonvoting common stock, at cost	`TreasuryStockValue`	$46.33M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-71.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-56.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-71.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$772.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$876.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$752.11M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$850.77M	USD	Point-in-time
Total	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Total	`LiabilitiesAndStockholdersEquity`	$1.23B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$286.95M	USD	1 Quarter
Net sales	`Revenues`	$293.20M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$146.66M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$145.54M	USD	1 Quarter
Gross margin	`GrossProfit`	$141.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$146.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.33M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.97M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$94.59M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$89.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$100.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$105.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.62M	USD	1 Quarter
Investment and other income (expense)	`OtherNonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
Investment and other income (expense)	`OtherNonoperatingIncomeExpense`	$-17.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$701.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$712.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$39.89M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.57M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.07M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$9.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.50M	USD	1 Quarter
Weighted average common shares outstanding, basic (in thousands):	`WeightedAverageNumberOfSharesOutstandingBasic`	53.14M	shares	1 Quarter
Weighted average common shares outstanding, basic (in thousands):	`WeightedAverageNumberOfSharesOutstandingBasic`	52.20M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in thousands):	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.96M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in thousands):	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.74M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$30.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.63M	USD	1 Quarter
Non-cash portion of stock-based compensation expense	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Non-cash portion of stock-based compensation expense	`ShareBasedCompensation`	$4.96M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.16M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$218.00K	USD	1 Quarter
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.53M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.71M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.36M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-249.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.12M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.20M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.40M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndOtherLiabilities`	$-14.29M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndOtherLiabilities`	$-5.19M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$266.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.19M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.85M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.82M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.01M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.72M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-527.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-337.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.67M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.20M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$11.53M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$11.10M	USD	1 Quarter
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$13.00M	USD	1 Quarter
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$3.41M	USD	1 Quarter
Payments Related to Tax Withholding for Share-based Compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.27M	USD	1 Quarter
Payments Related to Tax Withholding for Share-based Compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.94M	USD	1 Quarter
Proceeds from borrowing on credit facilities	`ProceedsFromRepaymentsOfDebt`	$5.74M	USD	1 Quarter
Proceeds from borrowing on credit facilities	`ProceedsFromRepaymentsOfDebt`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.27M	USD	1 Quarter
Other	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-1.77M	USD	1 Quarter
Other	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$65.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.33M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$664.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.06M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-304.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.02M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.75M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$192.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$181.43M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$295.09M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$279.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$192.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$181.43M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$295.09M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$279.07M	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$30.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.50M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$50.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-8.79M	USD	1 Quarter
Reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$47.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$381.00K	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$-427.00K	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$-185.00K	USD	1 Quarter
Pension and other post-retirement benefits actuarial gain amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$155.00K	USD	1 Quarter
Pension and other post-retirement benefits actuarial gain amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$105.00K	USD	1 Quarter
Other comprehensive loss before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-9.37M	USD	1 Quarter
Other comprehensive loss before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-240.00K	USD	1 Quarter
Income tax benefit (expense) related to items of other comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-211.00K	USD	1 Quarter
Income tax benefit (expense) related to items of other comprehensive loss	`OtherComprehensiveIncomeLossTax`	$458.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-9.83M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-29.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$20.81M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$37.47M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.