10-Q Filing

BRADY CORP CIK: 746598 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000746598-20-000214`
Period End Date	20201031
Filing Date	20201119
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	brc-20201031_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 32 Cash Flow Statement 54 Comprehensive Income 18

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$217.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$295.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$279.07M	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.16M	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.70M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $7,704 and $7,157, respectively	`AccountsReceivableNetCurrent`	$146.18M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $7,704 and $7,157, respectively	`AccountsReceivableNetCurrent`	$156.74M	USD	Point-in-time
Inventories	`InventoryNet`	$135.66M	USD	Point-in-time
Inventories	`InventoryNet`	$120.22M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.49M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$544.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$509.45M	USD	Point-in-time
Property, plant and equipmentnet	`PropertyPlantAndEquipmentNet`	$115.07M	USD	Point-in-time
Property, plant and equipmentnet	`PropertyPlantAndEquipmentNet`	$119.96M	USD	Point-in-time
Goodwill	`Goodwill`	$416.03M	USD	Point-in-time
Goodwill	`Goodwill`	$412.72M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$20.91M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$22.33M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.98M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.85M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$41.01M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$41.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$27.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$28.84M	USD	Point-in-time
Total	`Assets`	$1.14B	USD	Point-in-time
Total	`Assets`	$1.18B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$62.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$62.91M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$41.55M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$55.41M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.06M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.50M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$10.71M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$8.65M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$16.10M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$15.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$49.78M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$185.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$204.96M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$31.98M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$29.95M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$61.52M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$60.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$295.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$279.39M	USD	Point-in-time
Class A nonvoting common stockIssued 51,261,487 shares, and outstanding 48,497,649 and 48,456,954 shares, respectively	`ClassANonvotingCommonStockValueIssued`	$513.00K	USD	Point-in-time
Class A nonvoting common stockIssued 51,261,487 shares, and outstanding 48,497,649 and 48,456,954 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`	$332.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$331.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$704.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$726.55M	USD	Point-in-time
Treasury stock2,763,838 and 2,804,533 shares, respectively, of Class A nonvoting common stock, at cost	`TreasuryStockValue`	$109.15M	USD	Point-in-time
Treasury stock2,763,838 and 2,804,533 shares, respectively, of Class A nonvoting common stock, at cost	`TreasuryStockValue`	$107.22M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-66.48M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-71.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-69.67M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$876.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$863.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$880.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$850.77M	USD	Point-in-time
Total	`LiabilitiesAndStockholdersEquity`	$1.14B	USD	Point-in-time
Total	`LiabilitiesAndStockholdersEquity`	$1.18B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$286.95M	USD	1 Quarter
Net sales	`Revenues`	$277.23M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$141.80M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$145.54M	USD	1 Quarter
Gross margin	`GrossProfit`	$141.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$135.43M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.97M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.20M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$89.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$83.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$100.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$93.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$42.19M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.89M	USD	1 Quarter
Investment and other income	`OtherNonoperatingIncomeExpense`	$155.00K	USD	1 Quarter
Investment and other income	`OtherNonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
Interest expense	`InterestExpense`	$106.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$701.00K	USD	1 Quarter
Income before income taxes and losses of unconsolidated affiliate	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.24M	USD	1 Quarter
Income before income taxes and losses of unconsolidated affiliate	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.57M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.07M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.58M	USD	1 Quarter
Income (Loss) From Continuing Operations Before Income (Loss) From Equity Method Investments	`IncomeLossFromContinuingOperationsBeforeIncomeLossFromEquityMethodInvestments`	$33.66M	USD	1 Quarter
Income (Loss) From Continuing Operations Before Income (Loss) From Equity Method Investments	`IncomeLossFromContinuingOperationsBeforeIncomeLossFromEquityMethodInvestments`	$37.50M	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-174.00K	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.48M	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`	52.02M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in thousands):	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.29M	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`	$37.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.63M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.57M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.18M	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-174.00K	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	$-1.53M	USD	1 Quarter
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	$266.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.37M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.36M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-249.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-14.76M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.40M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndOtherLiabilities`	$17.36M	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`	$2.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$62.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.85M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.72M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.32M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-527.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-119.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.20M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$11.39M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$11.53M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfCommonStock`	$160.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfCommonStock`	$3.41M	USD	1 Quarter
Payments for employee taxes withheld from stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.62M	USD	1 Quarter
Payments for employee taxes withheld from stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.27M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$2.72M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Other	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$65.00K	USD	1 Quarter
Other	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$17.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.55M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.33M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.60M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-304.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$16.02M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$38.69M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$217.64M	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`	$256.33M	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`	$217.64M	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`	$256.33M	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`	$37.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.48M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-4.19M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$50.00K	USD	1 Quarter
Reclassification adjustment for losses (gains) included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$381.00K	USD	1 Quarter
Reclassification adjustment for losses (gains) included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax`	$-211.00K	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$908.00K	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax`	$-185.00K	USD	1 Quarter
Pension and other post-retirement benefits actuarial gain amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$106.00K	USD	1 Quarter
Pension and other post-retirement benefits actuarial gain amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$105.00K	USD	1 Quarter
Other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-240.00K	USD	1 Quarter
Other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTax`	$-3.39M	USD	1 Quarter
Income tax benefit related to items of other comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-199.00K	USD	1 Quarter
Income tax benefit related to items of other comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-211.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-29.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.19M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$30.29M	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.