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10-Q Filing

BRADY CORP CIK: 746598 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000746598-22-000148
Period End Date 20221031
Filing Date 20221117
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance brc-20221031_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $7.36M USD Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $6.94M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.07M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.47M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $6,938 and $7,355, respectively AccountsReceivableNetCurrent $183.23M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $6,938 and $7,355, respectively AccountsReceivableNetCurrent $180.18M USD Point-in-time
Inventories InventoryNet $190.02M USD Point-in-time
Inventories InventoryNet $195.69M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $12.90M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $10.74M USD Point-in-time
Total current assets AssetsCurrent $498.07M USD Point-in-time
Total current assets AssetsCurrent $503.25M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $136.32M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $139.51M USD Point-in-time
Goodwill Goodwill $586.83M USD Point-in-time
Goodwill Goodwill $579.40M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $69.49M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $74.03M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $15.06M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $15.88M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $31.29M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $27.24M USD Point-in-time
Other assets OtherAssetsNoncurrent $21.72M USD Point-in-time
Other assets OtherAssetsNoncurrent $19.86M USD Point-in-time
Total Assets $1.35B USD Point-in-time
Total Assets $1.37B USD Point-in-time
Accounts payable AccountsPayableCurrent $79.60M USD Point-in-time
Accounts payable AccountsPayableCurrent $81.12M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $57.09M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $76.76M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $13.49M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $12.54M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $13.94M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $8.29M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $15.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $14.13M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $65.35M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $61.46M USD Point-in-time
Total current liabilities LiabilitiesCurrent $255.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $243.61M USD Point-in-time
Long-term debt LongTermLineOfCredit $99.00M USD Point-in-time
Long-term debt LongTermLineOfCredit $95.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $19.14M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $15.56M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $86.72M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $80.73M USD Point-in-time
Total liabilities Liabilities $438.90M USD Point-in-time
Total liabilities Liabilities $456.03M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $345.27M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $346.06M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $892.42M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $920.48M USD Point-in-time
Treasury stock5,085,220 and 4,890,779 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $228.85M USD Point-in-time
Treasury stock5,085,220 and 4,890,779 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $217.86M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-126.51M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-109.08M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-55.95M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-60.67M USD Point-in-time
Total stockholders equity StockholdersEquity $963.03M USD Point-in-time
Total stockholders equity StockholdersEquity $911.30M USD Point-in-time
Total stockholders equity StockholdersEquity $963.89M USD Point-in-time
Total stockholders equity StockholdersEquity $911.73M USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.37B USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.35B USD Point-in-time
Income Statement 28 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $322.57M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $321.48M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $167.31M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $166.49M USD 1 Quarter
Gross margin GrossProfit $154.99M USD 1 Quarter
Gross margin GrossProfit $155.26M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.91M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.93M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $96.75M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $89.94M USD 1 Quarter
Total operating expenses OperatingExpenses $110.65M USD 1 Quarter
Total operating expenses OperatingExpenses $103.88M USD 1 Quarter
Operating income OperatingIncomeLoss $44.34M USD 1 Quarter
Operating income OperatingIncomeLoss $51.39M USD 1 Quarter
Investment and other (expense) income OtherNonoperatingIncomeExpense $-157.00K USD 1 Quarter
Investment and other (expense) income OtherNonoperatingIncomeExpense $543.00K USD 1 Quarter
Interest expense InterestExpense $894.00K USD 1 Quarter
Interest expense InterestExpense $182.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $44.70M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $50.34M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $10.89M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.65M USD 1 Quarter
Net income NetIncomeLoss $35.05M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 49.87M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 51.97M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 52.44M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 50.09M shares 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $35.05M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.51M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.66M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.96M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $4.13M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.71M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-625.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $383.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $187.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $627.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $13.30M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.58M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $16.58M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.56M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $655.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-14.15M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $9.50M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $1.66M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $5.95M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $27.49M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $28.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.86M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.33M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-2.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.33M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.86M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.60M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.38M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $151.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $349.00K USD 1 Quarter
Payments for employee taxes withheld from stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.50M USD 1 Quarter
Payments for employee taxes withheld from stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.34M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $18.92M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $12.07M USD 1 Quarter
Proceeds from borrowing on credit facilities ProceedsFromLinesOfCredit $56.20M USD 1 Quarter
Proceeds from borrowing on credit facilities ProceedsFromLinesOfCredit $36.00M USD 1 Quarter
Repayment of borrowing on credit facilities RepaymentsOfLinesOfCredit $27.20M USD 1 Quarter
Repayment of borrowing on credit facilities RepaymentsOfLinesOfCredit $32.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $115.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $66.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-4.59M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-20.54M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.20M 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 $402.00K USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $147.34M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $157.55M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.47M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.07M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $147.34M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $157.55M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.47M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.07M USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning Balances StockholdersEquity $963.03M USD Point-in-time
Beginning Balances StockholdersEquity $911.30M USD Point-in-time
Beginning Balances StockholdersEquity $963.89M USD Point-in-time
Beginning Balances StockholdersEquity $911.73M USD Point-in-time
Net income NetIncomeLoss $35.05M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-17.44M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-4.72M USD 1 Quarter
Issuance of shares of Class A Common Stock under stock plan StockIssuedDuringPeriodValueShareBasedCompensation $3.19M USD 1 Quarter
Issuance of shares of Class A Common Stock under stock plan StockIssuedDuringPeriodValueShareBasedCompensation $1.16M USD 1 Quarter
Tax benefit and withholdings from deferred compensation distributions AdjustmentsToAdditionalPaidInCapitalOther $66.00K USD 1 Quarter
Tax benefit and withholdings from deferred compensation distributions AdjustmentsToAdditionalPaidInCapitalOther $115.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.13M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.96M 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 $12.07M USD 1 Quarter
Ending Balances StockholdersEquity $963.03M USD Point-in-time
Ending Balances StockholdersEquity $911.30M USD Point-in-time
Ending Balances StockholdersEquity $963.89M USD Point-in-time
Ending Balances StockholdersEquity $911.73M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $35.05M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-17.67M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-3.92M USD 1 Quarter
Net gain (loss) recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-26.00K USD 1 Quarter
Net gain (loss) recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $893.00K USD 1 Quarter
Reclassification adjustment for gains included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $568.00K USD 1 Quarter
Reclassification adjustment for gains included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $581.00K USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $-594.00K USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $312.00K 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 $143.00K USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-17.50M USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-4.62M USD 1 Quarter
Income tax benefit (expense) related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $99.00K USD 1 Quarter
Income tax benefit (expense) related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $-66.00K USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-17.44M 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 $22.00M USD 1 Quarter

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

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