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10-Q Filing

BRADY CORP CIK: 746598 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0000746598-23-000134
Period End Date 20231031
Filing Date 20231116
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance brc-20231031_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $8.47M USD Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current AllowanceForDoubtfulAccountsReceivableCurrent $6.92M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $151.53M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $175.35M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $6,923 and $8,467, respectively AccountsReceivableNetCurrent $179.97M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $6,923 and $8,467, respectively AccountsReceivableNetCurrent $184.42M USD Point-in-time
Inventories InventoryNet $177.08M USD Point-in-time
Inventories InventoryNet $166.92M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.79M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $12.83M USD Point-in-time
Total current assets AssetsCurrent $524.82M USD Point-in-time
Total current assets AssetsCurrent $535.07M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $142.15M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $143.79M USD Point-in-time
Goodwill Goodwill $592.65M USD Point-in-time
Goodwill Goodwill $583.70M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $62.10M USD Point-in-time
Other intangible assets IntangibleAssetsNetExcludingGoodwill $58.77M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $14.93M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $15.72M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $26.86M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $29.69M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.14M USD Point-in-time
Other assets OtherAssetsNoncurrent $20.29M USD Point-in-time
Total Assets $1.38B USD Point-in-time
Total Assets $1.39B USD Point-in-time
Accounts payable AccountsPayableCurrent $79.51M USD Point-in-time
Accounts payable AccountsPayableCurrent $79.86M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $71.47M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $57.57M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $14.25M USD Point-in-time
Taxes, other than income taxes AccrualForTaxesOtherThanIncomeTaxesCurrent $13.57M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $17.97M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $12.58M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $13.22M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $14.73M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $65.83M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $69.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $251.69M USD Point-in-time
Total current liabilities LiabilitiesCurrent $258.04M USD Point-in-time
Other Long-Term Debt, Noncurrent OtherLongTermDebtNoncurrent $52.27M USD Point-in-time
Other Long-Term Debt, Noncurrent OtherLongTermDebtNoncurrent $49.72M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $14.48M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $16.22M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $74.37M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $69.98M USD Point-in-time
Total liabilities Liabilities $388.42M USD Point-in-time
Total liabilities Liabilities $398.34M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $352.42M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $351.77M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.06B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.02B USD Point-in-time
Treasury stock6,393,405 and 6,252,763 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $300.47M USD Point-in-time
Treasury stock6,393,405 and 6,252,763 shares, respectively, of Class A nonvoting common stock, at cost TreasuryStockValue $290.21M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-109.08M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-115.28M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-126.51M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-93.06M USD Point-in-time
Total stockholders equity StockholdersEquity $994.99M USD Point-in-time
Total stockholders equity StockholdersEquity $911.73M USD Point-in-time
Total stockholders equity StockholdersEquity $911.30M USD Point-in-time
Total stockholders equity StockholdersEquity $990.92M USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.38B USD Point-in-time
Total LiabilitiesAndStockholdersEquity $1.39B 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 $331.98M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $160.26M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $167.31M USD 1 Quarter
Gross margin GrossProfit $171.72M USD 1 Quarter
Gross margin GrossProfit $155.26M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.93M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $15.70M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $96.29M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $89.94M USD 1 Quarter
Total operating expenses OperatingExpenses $111.99M USD 1 Quarter
Total operating expenses OperatingExpenses $103.88M USD 1 Quarter
Operating income OperatingIncomeLoss $51.39M USD 1 Quarter
Operating income OperatingIncomeLoss $59.73M USD 1 Quarter
Investment and other income (expense) OtherNonoperatingIncomeExpense $-157.00K USD 1 Quarter
Investment and other income (expense) OtherNonoperatingIncomeExpense $438.00K USD 1 Quarter
Interest expense InterestExpense $766.00K USD 1 Quarter
Interest expense InterestExpense $894.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $59.40M 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 $12.16M USD 1 Quarter
Net income NetIncomeLoss $47.24M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 48.51M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 49.87M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 50.09M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 48.81M shares 1 Quarter
Cash Flow Statement 54 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $47.24M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $7.47M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.66M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $4.16M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.96M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.71M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-2.23M USD 1 Quarter
Other OtherNoncashIncomeExpense $-1.14M USD 1 Quarter
Other OtherNoncashIncomeExpense $383.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $627.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $2.21M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.58M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-6.15M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.56M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.49M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-14.15M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-3.73M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $5.76M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $5.95M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $28.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $62.27M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.86M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.28M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.86M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.28M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.38M USD 1 Quarter
Payment of dividends PaymentsOfDividends $11.34M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $2.60M 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 $2.33M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $14.12M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $12.07M USD 1 Quarter
Proceeds from borrowing on credit agreement ProceedsFromLinesOfCredit $38.55M USD 1 Quarter
Proceeds from borrowing on credit agreement ProceedsFromLinesOfCredit $36.00M USD 1 Quarter
Repayment of borrowing on credit agreement RepaymentsOfLinesOfCredit $32.00M USD 1 Quarter
Repayment of borrowing on credit agreement RepaymentsOfLinesOfCredit $36.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $66.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $1.15M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-21.49M 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 $-5.68M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.20M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $23.82M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $402.00K USD 1 Quarter
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, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $151.53M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $175.35M 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
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $151.53M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $175.35M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning Balances StockholdersEquity $994.99M USD Point-in-time
Beginning Balances StockholdersEquity $911.73M USD Point-in-time
Beginning Balances StockholdersEquity $911.30M USD Point-in-time
Beginning Balances StockholdersEquity $990.92M USD Point-in-time
Net income NetIncomeLoss $47.24M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-22.22M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-17.44M USD 1 Quarter
Issuance of shares of Class A Common Stock under stock plan StockIssuedDuringPeriodValueShareBasedCompensation $-265.00K 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 $149.00K USD 1 Quarter
Tax benefit and withholdings from deferred compensation distributions AdjustmentsToAdditionalPaidInCapitalOther $66.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.16M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.96M USD 1 Quarter
Ending Balances StockholdersEquity $994.99M USD Point-in-time
Ending Balances StockholdersEquity $911.73M USD Point-in-time
Ending Balances StockholdersEquity $911.30M USD Point-in-time
Ending Balances StockholdersEquity $990.92M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $47.24M USD 1 Quarter
Net income NetIncomeLoss $39.44M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-20.36M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-17.67M USD 1 Quarter
Net (loss) gain recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $893.00K USD 1 Quarter
Net (loss) gain recognized in other comprehensive loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-294.00K USD 1 Quarter
Reclassification adjustment for gains included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax $1.28M 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 $312.00K USD 1 Quarter
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $-1.58M USD 1 Quarter
Pension and other post-retirement benefits actuarial gain amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $151.00K USD 1 Quarter
Pension and other post-retirement benefits actuarial gain amortization OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $143.00K USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-22.09M USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-17.50M USD 1 Quarter
Income tax (expense) benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $-66.00K USD 1 Quarter
Income tax (expense) benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $128.00K USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-22.22M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-17.44M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $22.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $25.02M USD 1 Quarter

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

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