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10-Q Filing

BRADY CORP CIK: 746598 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000746598-21-000198
Period End Date 20211031
Filing Date 20211118
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance brc-20211031_htm.xml
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $7.31M USD Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $7.26M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 51.26M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $256.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $157.55M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $147.34M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $217.64M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $7,265 and $7,306, respectively AccountsReceivableNetCurrent $182.79M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $7,265 and $7,306, respectively AccountsReceivableNetCurrent $170.58M USD Point-in-time
Inventories InventoryNet $136.11M USD Point-in-time
Inventories InventoryNet $152.29M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $12.45M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.08M USD Point-in-time
Total current assets AssetsCurrent $465.10M USD Point-in-time
Total current assets AssetsCurrent $505.09M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $128.62M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $121.74M USD Point-in-time
Goodwill Goodwill $610.84M USD Point-in-time
Goodwill Goodwill $614.14M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $88.22M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $92.33M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $16.38M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $16.34M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $36.66M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $41.88M USD Point-in-time
Other assets OtherAssetsNoncurrent $24.68M USD Point-in-time
Other assets OtherAssetsNoncurrent $26.22M USD Point-in-time
Total Assets $1.38B USD Point-in-time
Total Assets $1.41B USD Point-in-time
Accounts payable AccountsPayableCurrent $82.15M USD Point-in-time
Accounts payable AccountsPayableCurrent $79.50M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $81.17M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $89.28M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $13.06M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $13.05M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $5.59M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $3.92M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $17.67M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $17.13M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $59.62M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $61.93M USD Point-in-time
Total current liabilities LiabilitiesCurrent $257.58M USD Point-in-time
Total current liabilities LiabilitiesCurrent $266.49M USD Point-in-time
Long-term Line of Credit, Noncurrent LongTermLineOfCredit $67.00M USD Point-in-time
Long-term Line of Credit, Noncurrent LongTermLineOfCredit $38.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $23.43M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $28.35M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $90.80M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $89.66M USD Point-in-time
Total liabilities Liabilities $414.73M USD Point-in-time
Total liabilities Liabilities $446.58M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $339.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $340.18M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $811.82M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $788.37M USD Point-in-time
Treasury stock3,003,895 and 2,733,242 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $109.06M USD Point-in-time
Treasury stock3,003,895 and 2,733,242 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $127.99M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-60.67M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-69.67M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-66.48M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-55.95M USD Point-in-time
Total stockholders equity StockholdersEquity $880.40M USD Point-in-time
Total stockholders equity StockholdersEquity $963.89M USD Point-in-time
Total stockholders equity StockholdersEquity $963.03M USD Point-in-time
Total stockholders equity StockholdersEquity $863.07M USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.38B USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.41B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $277.23M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $321.48M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $166.49M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $141.80M USD 1 Quarter
Gross margin GrossProfit $154.99M USD 1 Quarter
Gross margin GrossProfit $135.43M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $10.20M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.91M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $83.04M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $96.75M USD 1 Quarter
Total operating expenses OperatingExpenses $110.65M USD 1 Quarter
Total operating expenses OperatingExpenses $93.24M USD 1 Quarter
Operating income OperatingIncomeLoss $44.34M USD 1 Quarter
Operating income OperatingIncomeLoss $42.19M USD 1 Quarter
Investment and other income OtherNonoperatingIncomeExpense $543.00K USD 1 Quarter
Investment and other income OtherNonoperatingIncomeExpense $155.00K USD 1 Quarter
Interest expense InterestExpense $182.00K USD 1 Quarter
Interest expense InterestExpense $106.00K USD 1 Quarter
Income before income taxes and losses of unconsolidated affiliate IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $44.70M USD 1 Quarter
Income before income taxes and losses of unconsolidated affiliate IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $42.24M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.65M 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 $35.05M 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 $33.48M USD 1 Quarter
Net income NetIncomeLoss $35.05M USD 1 Quarter
Weighted average common shares outstanding, basic (in thousands): WeightedAverageNumberOfSharesOutstandingBasic 52.02M shares 1 Quarter
Weighted average common shares outstanding, basic (in thousands): WeightedAverageNumberOfSharesOutstandingBasic 51.97M shares 1 Quarter
Weighted average common shares outstanding, diluted (in thousands): WeightedAverageNumberOfDilutedSharesOutstanding 52.44M shares 1 Quarter
Weighted average common shares outstanding, diluted (in thousands): WeightedAverageNumberOfDilutedSharesOutstanding 52.29M shares 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $33.48M USD 1 Quarter
Net income NetIncomeLoss $35.05M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.63M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.51M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $4.13M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.57M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-625.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.18M USD 1 Quarter
Equity in losses of unconsolidated affiliate IncomeLossFromEquityMethodInvestments $-174.00K USD 1 Quarter
Equity in losses of unconsolidated affiliate IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Other OtherNoncashIncomeExpense $266.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $187.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $13.30M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $11.37M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $16.58M 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 $655.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $17.36M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $9.50M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $2.06M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $1.66M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $27.49M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $62.84M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.33M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $9.32M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-119.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-2.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-9.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.33M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.39M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.60M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $151.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $160.00K 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 $3.34M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $2.72M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $18.92M USD 1 Quarter
Proceeds from borrowing on credit facilities ProceedsFromLinesOfCredit $12.97M USD 1 Quarter
Proceeds from borrowing on credit facilities ProceedsFromLinesOfCredit $56.20M USD 1 Quarter
Repayment of borrowing on credit facilities RepaymentsOfLinesOfCredit $27.20M USD 1 Quarter
Repayment of borrowing on credit facilities RepaymentsOfLinesOfCredit $12.99M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $34.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $115.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.55M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-4.59M 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 $-1.35M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $10.22M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $38.69M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $256.33M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $157.55M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $147.34M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $217.64M 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 $157.55M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $147.34M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $217.64M USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning Balances StockholdersEquity $880.40M USD Point-in-time
Beginning Balances StockholdersEquity $963.89M USD Point-in-time
Beginning Balances StockholdersEquity $963.03M USD Point-in-time
Beginning Balances StockholdersEquity $863.07M USD Point-in-time
Net income NetIncomeLoss $33.48M USD 1 Quarter
Net income NetIncomeLoss $35.05M USD 1 Quarter
Other Comprehensive Income (Loss), Net of Tax OtherComprehensiveIncomeLossNetOfTax $-3.19M USD 1 Quarter
Other Comprehensive Income (Loss), Net of Tax OtherComprehensiveIncomeLossNetOfTax $-4.72M USD 1 Quarter
Issuance of shares of Class A Common Stock under stock plan StockIssuedValueStockOptionsExercisedAndRestrictedStockVested $3.19M USD 1 Quarter
Issuance of shares of Class A Common Stock under stock plan StockIssuedValueStockOptionsExercisedAndRestrictedStockVested $2.46M USD 1 Quarter
Tax benefit and withholdings from deferred compensation distributions AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation $32.00K USD 1 Quarter
Tax benefit and withholdings from deferred compensation distributions AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation $115.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $4.13M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.57M USD 1 Quarter
Repurchase of shares of Class A Common Stock StockRepurchasedDuringPeriodValue $18.92M USD 1 Quarter
Repurchase of shares of Class A Common Stock StockRepurchasedDuringPeriodValue $2.72M USD 1 Quarter
Ending Balances StockholdersEquity $880.40M USD Point-in-time
Ending Balances StockholdersEquity $963.89M USD Point-in-time
Ending Balances StockholdersEquity $963.03M USD Point-in-time
Ending Balances StockholdersEquity $863.07M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $33.48M USD 1 Quarter
Net income NetIncomeLoss $35.05M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-4.19M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-3.92M USD 1 Quarter
Net (loss) gain recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-26.00K USD 1 Quarter
Net (loss) gain recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $697.00K USD 1 Quarter
Reclassification adjustment for (gains) losses included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $568.00K USD 1 Quarter
Reclassification adjustment for (gains) losses included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $-211.00K USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $908.00K USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $-594.00K USD 1 Quarter
Pension and other post-retirement benefits actuarial gain amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $107.00K USD 1 Quarter
Pension and other post-retirement benefits actuarial gain amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $106.00K USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-3.39M USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-4.62M USD 1 Quarter
Income tax (expense) benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $-199.00K USD 1 Quarter
Income tax (expense) benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $99.00K USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-3.19M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-4.72M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $30.33M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $30.29M USD 1 Quarter

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

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