GRC on NYSE

Gorman-Rupp Company

Pump manufacturer in Mansfield, Ohio, US

Gorman-Rupp (NYSE: GRC) is a pump manufacturer in Mansfield, Ohio. It manufactures pumps for municipal, water, wastewater, sewage, industrial, construction, petroleum, fire, and OEM markets. The company is traded on the New York Stock Exchange.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1933Founded1

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  • TickerGRC on NYSE1
  • IndustryPumps & Pumping Equipment1
  • HeadquartersMansfield, United States1
  • Websitewww.gormanrupp.com
  • Incorporated inOH5
  • Business address600 South Airport Road, P.O. Box 1217, Mansfield, Oh 449015
  • Filer categoryLarge accelerated filer5
  • Legal formCorporation (For-Profit)4
  • LEI254900WVLPOIWPGJPA074
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 43215 Columbus, United States4
  • Registered withCorporation Database (Ohio Secretary of State), 1589954
Gorman-Rupp Company HQ
Photo: Gorman-Rupp, CC BY-SA 4.0, via Wikimedia Commons8

Gorman-Rupp (NYSE: GRC) is a pump manufacturer in Mansfield, Ohio. It manufactures pumps for municipal, water, wastewater, sewage, industrial, construction, petroleum, fire, and OEM markets. The company is traded on the New York Stock Exchange. Its current CEO is Scott King.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

30.6%Gross margin9
14.0%Operating margin9
7.8%Net margin9
3.4%Revenue growth, 20259
12.8%Return on equity9
0.69×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Industrial brought in 20% of the revenue Gorman-Rupp Company broke down this way in fiscal 2025.

  1. Industrial$139.6M920%up 6% from 2024
  2. Fire Market$128.1M919%up 5% from 2024
  3. Municipal$103.5M915%up 3% from 2024
  4. Agriculture$84.6M912%up 3% from 2024
  5. Repair Parts$80.0M912%up 7% from 2024
  6. Construction$75.7M911%down 11% from 2024
  7. Original Equipment Manufacturer$45.2M97%up 12% from 2024
  8. Petroleum$25.7M94%up 6% from 2024
Products and services by year
Products and services202320242025
Industrial$137.0M$131.5M$139.6M
Fire Market$143.6M$121.4M$128.1M
Municipal$78.5M$100.0M$103.5M
Agriculture$83.1M$82.2M$84.6M
Repair Parts$69.5M$74.8M$80.0M
Construction$87.0M$85.1M$75.7M
Original Equipment Manufacturer$37.7M$40.3M$45.2M
Petroleum$23.2M$24.2M$25.7M

Regions

United States brought in 76% of the revenue Gorman-Rupp Company broke down this way in fiscal 2025.

  1. United States$518.2M976%up 5% from 2024
  2. Outside the United States$164.2M924%down 2% from 2024
Regions by year
Regions202320242025
United States$497.4M$491.5M$518.2M
Outside the United States$162.1M$168.2M$164.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue69¢$473.2M
  • Selling, general and admin15¢$101.4M
  • Other costs6¢$38.6M
  • Income tax2¢$16.1M
  • Profit8¢$53.0M

Out of $682.4M in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$106.2M

Out of $106.2M of cash from operations.9

Financial statements

Revenue101112139$682.4M in 2025+71% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $398.2M$398.2M20192020: $349.0M$349.0M2020−12%2021: $378.3M$378.3M2021+8%2022: $521.0M$521.0M2022+38%2023: $659.5M$659.5M2023+27%2024: $659.7M$659.7M2024+0%2025: $682.4M$682.4M2025+3%
Gross profit101112139$209.1M in 2025+104% since 2019
0$100.0M$200.0M$300.0M2019: $102.7M$102.7M20192020: $89.6M$89.6M2020−13%2021: $95.9M$95.9M2021+7%2022: $130.9M$130.9M2022+37%2023: $196.3M$196.3M2023+50%2024: $204.3M$204.3M2024+4%2025: $209.1M$209.1M2025+2%
Operating income101112139$95.4M in 2025+118% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $43.8M$43.8M20192020: $35.8M$35.8M2020−18%2021: $39.4M$39.4M2021+10%2022: $40.2M$40.2M2022+2%2023: $87.0M$87.0M2023+117%2024: $91.4M$91.4M2024+5%2025: $95.4M$95.4M2025+4%
Net income101112139$53.0M in 2025+48% since 2019
0$20.0M$40.0M$60.0M2019: $35.8M$35.8M20192020: $25.2M$25.2M2020−30%2021: $29.9M$29.9M2021+19%2022: $11.2M$11.2M2022−62%2023: $35.0M$35.0M2023+212%2024: $40.1M$40.1M2024+15%2025: $53.0M$53.0M2025+32%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Net sales$682.4M$659.7M$659.5M
Cost of products sold$473.2M$455.3M$463.3M
Gross profit$209.1M$204.3M$196.3M
Selling, general and administrative expenses$101.4M$100.5M$96.7M
Amortization expense$12.4M$12.4M$12.6M
Operating income$95.4M$91.4M$87.0M
Interest expense-$23.4M-$33.6M-$41.3M
Other income (expense), net-$2.8M-$7.3M-$1.8M
Income before income taxes$69.2M$50.5M$44.0M
Income taxes$16.1M$10.4M$9.0M
Net income$53.0M$40.1M$35.0M
Basic$2.02$1.53$1.34
Diluted$2.02$1.53$1.34
Basic26.3M shares26.2M shares26.2M shares
Diluted26.3M shares26.2M shares26.2M shares

Compare Gorman-Rupp Company with another company

Corporate structure

Gorman-Rupp Company sits at the top of its group. 12 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Gorman-Rupp Company

  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Gorman-Rupp Company, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
  • DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on Gorman-Rupp Company, latest Jan 21, 2026 (4 filings since Feb 8, 2022)
  • GAMCO Investors Filed SCHEDULE 13D/A on Gorman-Rupp Company, latest Feb 6, 2025
  • Gayle Gorman Green Filed SC 13D on Gorman-Rupp Company, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
  • Jeffrey S. Gorman Filed SC 13D on Gorman-Rupp Company, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
  • BlackRock Filed SC 13G/A on Gorman-Rupp Company, latest Jan 29, 2024 (3 filings since Feb 1, 2022)
  • Gorman-Rupp Company Mansfield, Ohio, United States
    • AMT Pump Company Subsidiary · Delaware, United States
    • Bayou City Pump Company Subsidiary · Ohio, United States
    • Fill-Rite Company Subsidiary · Ohio, United States
    • Gorman-Rupp Europe B.V. Subsidiary · Netherlands
    • Gorman-Rupp of Canada Limited Subsidiary · Canada
    • GRC Fill-Rite Mexico, S.A. de C.V. Subsidiary · Mexico
    • GRC International LLC Subsidiary · Ohio, United States
    • National Pump Company Subsidiary · Ohio, United States
    • Patterson Pump Company Subsidiary · Ohio, United States
    • Patterson Pump Ireland Limited Subsidiary · Ireland
    • The Gorman-Rupp International Company Subsidiary · Ohio, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Gorman-Rupp Company reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$371.7M9 Dec 31, 2025$358.9M9 Dec 31, 2024+3.6%
Accumulated depreciation$237.6M9 Dec 31, 2025$227.1M9 Dec 31, 2024+4.6%
Property and equipment, net$134.1M9 Dec 31, 2025$131.8M9 Dec 31, 2024+1.8%
Finance-lease assets$370.0K9 Dec 31, 2025$490.0K9 Dec 31, 2024−24.5%
Operating-lease assets (leased space)$18.3M9 Dec 31, 2025$19.0M9 Dec 31, 2024−3.7%

Real estate and locations

ItemLatestA year beforeChange
Countries it operates in1409 Dec 31, 202514013 Dec 31, 20230%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$35.1M9 Dec 31, 2025$24.2M9 Dec 31, 2024+44.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$258.0M9 Dec 31, 2025$257.6M9 Dec 31, 2024+0.2%
Accumulated amortization$58.4M9 Dec 31, 2025$45.9M9 Dec 31, 2024+27.3%
Finite-lived intangibles, net$198.8M9 Dec 31, 2025$211.2M13 Dec 31, 2023−5.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$96.5M9 Dec 31, 2025$99.2M9 Dec 31, 2024−2.8%
Finished goods$15.9M9 Dec 31, 2025$14.1M9 Dec 31, 2024+13.2%

Properties, in its own words

The Company conducts business at plants and offices that are owned or leased and located in the United States and other countries as described below. The following table sets forth the location, approximate size, principal use, markets served, ownership status and utilization of each of our material facilities. Our facilities have the capacity to work three full-time shifts up to seven days per week as well as automated machining running during unstaffed hours, which the Company defines as full utilization. At partial utilization, our facilities are working one fully staffed shift five days per week, supplemented with partial second shifts and running certain automated machining operations during peak periods. We believe we make effective use of our productive capacities at our facilities. We consider our plants, machinery and equipment to be well maintained and in good operating condition. We believe the quality and production capacity of our facilities is sufficient to maintain our competitive position for the foreseeable future.

Properties · Approximate Sq Footage · Principal Use · Markets Served · Owned/ Leased · Utilization

The rest of Item 2

United States

Bellville, OH · 98,000 · Manufacturing, R&D · Industrial, OEM · Owned · Partial

Fort Wayne, IN · 125,000 · Manufacturing, R&D · Industrial, agriculture, construction · Owned · Partial

Glendale, AZ · 32,000 · Manufacturing, R&D · Industrial, agriculture, municipal, petroleum, OEM · Owned · Partial

Lenexa, KS · 142,000 · Manufacturing · Industrial, agriculture, construction · Leased · Partial

Lubbock, TX · 60,000 · Manufacturing · Industrial, agriculture, municipal, petroleum, OEM · Owned · Partial

Mansfield, OH (2 properties) · 970,000 · Corporate HQ, Manufacturing, R&D · Industrial, construction, municipal, petroleum, OEM · Owned · Partial

Olive Branch, MS · 62,000 · Manufacturing · Industrial, fire, municipal · Owned · Partial

Royersford, PA (2 properties) · 120,000 · Manufacturing · Industrial, agriculture, construction, municipal, OEM · Owned · Partial

Toccoa, GA · 295,000 · Manufacturing, R&D · Industrial, fire, municipal · Owned · Partial

Other Countries

County Westmeath, Ireland · 42,000 · Manufacturing · Industrial, fire, municipal · Owned · Partial

Waardenburg, The Netherlands · 41,000 · Manufacturing · Industrial, agriculture, construction, municipal, petroleum, OEM · Owned · Partial

St. Thomas, Ontario, Canada · 63,000 · Manufacturing · Industrial, agriculture, construction, municipal, petroleum, OEM · Owned · Partial

Johannesburg, South Africa · 38,000 · Manufacturing · Industrial, agriculture, construction, municipal, petroleum, OEM · Owned · Partial

Namur, Belgium · 18,000 · Manufacturing · Industrial, agriculture, construction, municipal, petroleum, OEM · Owned · Partial

Item 2 of the 10-K filed Mar 2, 2026.17

The story

Gorman-Rupp was founded in 1933 by two entrepreneurs, J.C. Gorman and Herb Rupp. Their simplified design of a self-priming, centrifugal pumps would form the core of their initial product line.

The company was contracted by the United States military during the Second World War. Diversifying their product line to include a variety of specialized pumps contributed to significant sales increase and growth in the post-war era.

In 2021, The Gorman-Rupp Company had sales of $378.3 Million and was listed by industrial database IndustrySelect as one of the largest pump manufacturers in the United States.

From Wikipedia’s article on Gorman-Rupp Company, shared under CC BY-SA 4.0.6

Leadership

Who has led Gorman-Rupp Company, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (27)

Products and brands

Pump types offered by Gorman-Rupp include:

Self-priming Centrifugal

Standard Centrifugal

Submersible

Read the full text

Rotary Gear

Priming Assisted

Hydraulic Piston

Vertical Turbine

Engine-Driven Diaphragm

Axial Flow

Mixed Flow

Rotary Vane

Bellows Metering

Oscillating

Packaged Lift Stations

Booster Stations

From Wikipedia’s article on Gorman-Rupp Company, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AMT Pump Company Delaware7
  • Bayou City Pump Company Ohio7
  • Fill-Rite Company Ohio7
  • GRC Fill-Rite Mexico, S.A. de C.V. Mexico7
  • GRC International LLC Ohio7
  • Gorman-Rupp Europe B.V. The Netherlands7
  • Gorman-Rupp of Canada Limited Canada7
  • National Pump Company Ohio7
  • Patterson Pump Company Ohio7
  • Patterson Pump Ireland Limited Ireland7
  • The Gorman-Rupp International Company Ohio7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 2, 20268-K Executive or director change52
  2. Jul 24, 20268-K Results of operations53
  3. Jul 24, 20268-K Executive or director change; Regulation FD disclosure54
  4. Apr 27, 20268-K Other events55
  5. Apr 23, 20268-K Financial statements and exhibits56
  6. Feb 6, 20268-K Results of operations57
  7. Oct 24, 20258-K Results of operations58
  8. Jul 25, 20258-K Results of operations59
  9. Apr 25, 20258-K Shareholder vote; Regulation FD disclosure60
  10. Apr 24, 20258-K Results of operations61
  11. Feb 7, 20258-K Results of operations62
  12. Oct 25, 20248-K Results of operations; Executive or director change63
  13. Feb 14, 2022New chief executive Scott A. King becomes CEO18
  14. Dec 22, 2003New chief executive Jeffrey S. Gorman becomes CEO19
  15. Jan 3, 1994Went public Listed on NYSE1
  16. 1933Founded Founded1

Calendar

Coming up

  1. Oct 23, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.52 a share, on Oct 24, 2025.64

When it reported results

  1. Jul 24, 2026Reported quarterly or annual results53
  2. Feb 6, 2026Reported quarterly or annual results57
  3. Oct 24, 2025Reported quarterly or annual results58
  4. Jul 25, 2025Reported quarterly or annual results59
  5. Apr 24, 2025Reported quarterly or annual results61
  6. Feb 7, 2025Reported quarterly or annual results62
  7. Oct 25, 2024Reported quarterly or annual results63
  8. Jul 26, 2024Reported quarterly or annual results65

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

272 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 32 major events, 171 insider forms, 18 large holders, 31 other. The latest 20:

  1. Oct 2, 20268-K EDGAR
  2. Aug 28, 20264 EDGAR
  3. Jul 27, 202610-Q EDGAR
  4. Jul 24, 20268-K EDGAR
  5. Jul 24, 20268-K EDGAR
  6. Jun 23, 202611-K EDGAR
  7. Jun 1, 2026SD EDGAR
  8. May 11, 20264 EDGAR
  9. Apr 27, 20268-K EDGAR
  10. Apr 27, 202610-Q EDGAR
  11. Apr 24, 20264 EDGAR
  12. Apr 24, 20264 EDGAR
  13. Apr 24, 20264 EDGAR
  14. Apr 24, 20264 EDGAR
  15. Apr 24, 20264 EDGAR
  16. Apr 24, 20264 EDGAR
  17. Apr 24, 20264 EDGAR
  18. Apr 23, 20268-K EDGAR
  19. Mar 27, 2026SCHEDULE 13G/A EDGAR
  20. Mar 23, 2026ARS EDGAR

The 272 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

5 open-market trades by officers, directors and large owners since October 2021: 4 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 26, 2026Wischmeier D PatrickVP, Information TechnologySale5,153$77.62$400.0KForm 4
Aug 31, 2022Reynolds Kenneth RDirectorBuy2,250$26.52$59.7KForm 4
Aug 30, 2022King Scott APresident and CEOBuy2,500$25.95$64.9KForm 4
Aug 29, 2022HARLAN M ANNDirectorBuy1,000$28.88$28.9KForm 4
Aug 24, 2022GORMAN JEFFREY SDirectorBuy5,000$26.29$131.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Scott A. King$717.5K$2.2M72
2025James C. Kerr$393.6K$1.2M72
2025Brigette A. Burnell$360.2K$1.0M72
2025Jeffrey S. Gorman$50.5K$67.8K72
2024President and$683.3K$2.0M72
2024Executive VicePresident and$381.5K$1.1M72
2024Former ExecutiveChairman$375.0K$729.4K72
2023Chief Executive Officer$583.3K$1.7M72
2023Chief Financial Officer$366.8K$1.0M72
2023General Counsel and Corporate Secretary$335.8K$928.7K72
2023Former ExecutiveChairman$379.2K$709.3K72

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,799,828$165.1M0.0%+297,907
Dimensional Fund Advisors LP1,146,247$105.2M0.0%−130,758
Vanguard Portfolio Management LLC1,092,794$100.3M0.0%+22,234
Vanguard Capital Management LLC931,691$85.5M0.0%+14,003
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.762,875$69.9M0.1%+59,528
Gabelli Funds LLC749,347$68.7M0.4%−18,879
Geode Capital Management, LLC596,335$54.7M0.0%+97,873
Gamco Investors, Inc. Et Al567,470$52.1M0.5%−15,000
Victory Capital Management Inc533,286$48.9M0.0%−239,039
State Street Corp528,960$48.5M0.0%+29,938
First Trust Advisors LP516,202$47.4M0.0%−8,198
King Luther Capital Management Corp394,765$36.2M0.1%−335
Legal & General Group Plc368,696$33.6M0.0%+28,078
Bank Of America Corp /de/308,378$28.3M0.0%+6,148
Mechanics Financial Corp1,005,306$26.9M9.6%−2,150
Grace & White Inc /ny276,534$25.4M4.0%−45,092
Needham Investment Management LLC272,500$25.0M0.8%No change
Northern Trust Corp209,827$19.2M0.0%+12,006
Wells Fargo & Company/mn182,646$16.8M0.0%+14,814
Invesco Ltd.180,726$16.6M0.0%+86,715
Charles Schwab Investment Management Inc177,060$16.2M0.0%+3,164
Bank of New York Mellon Corp176,973$16.2M0.0%+4,814
Prentiss Smith & Co Inc170,715$15.7M8.6%No change
Vanguard Fiduciary Trust Co149,976$13.8M0.0%+3,463
Keybank National Association/oh142,340$13.1M0.0%−1,098

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Gorman-Rupp Company is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGORMAN RUPP CO2
  • CIK0000042682
  • Employer ID (EIN)34-025399017
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inOhio17
  • Fiscal year endsDecember 312
  • Industry code (SIC)3561 Pumps & Pumping Equipment2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address600 South Airport Road, P.O. Box 1217, Mansfield, OH 449012
  • Phone419-755-10112
  • Shares outstanding26,410,243 as of Jul 27, 202615
  • Public float$744.6M as of Jun 30, 202517
  • AuditorErnst & Young LLP, Cleveland, Ohio PCAOB ID 1967; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceFeb 15, 19942
  • Filings1,296 in all: 4 (443), 5 (296), 8-K (135), SC 13G/A (110), 10-Q (95), DEF 14A (32), 10-K (25), 11-K (25)2
    All 35 form types

    3 (17), SC 13G (16), ARS (15), S-8 (13), SD (13), UPLOAD (8), 10-K405 (7), CORRESP (7), 4/A (4), S-8 POS (4), SC 13D (4), 424B3 (3), 8-K/A (3), PRE 14A (3), S-3 (3), POS EX (2), SC 13D/A (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-Q/A (1), 144 (1), 25 (1), 5/A (1), 8-A12B (1), CERTNYS (1), DEFA14A (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Jul 27, 2026
    Proxy statement (DEF 14A) Mar 23, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, without par valueGRCNew York Stock Exchange

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Gorman-Rupp Company names in Item 1A of its 10-K filed Mar 2, 2026: 12 risks under these headings, as written.17

  • COMPANY SPECIFIC RISK FACTORS
  • Loss of key personnel
  • Intellectual property security
  • Growth through acquisitions
  • The Company has substantial indebtedness, which may impact the Company’s financial condition and the way it operates its business
  • Impairment in the value of intangible assets, including goodwill
  • Defined benefit pension plan settlement expense
  • LIFO inventory method
  • Family ownership of common equity
  • GENERAL RISK FACTORS
  • Continuation of current and projected future business environment
  • Highly competitive markets
The other 8 risks
  • Availability and costs of raw materials and labor
  • Cybersecurity threats
  • Artificial intelligence presents risks and challenges that can impact our business
  • Compliance with, and costs related to, a variety of import and export laws and regulations
  • U.S. trade policy, including the implementation of tariffs, could adversely affect the Company’s business and financial results
  • Environmental compliance costs and liabilities
  • Exposure to fluctuations in foreign currency exchange rates
  • Conditions in foreign countries in which the Company conducts business
  • Changes in our tax rates and exposure to additional income tax liabilities

Legal proceedings

For over twenty-five years, numerous business entities in the pump and fluid-handling industries, as well as a multitude of companies in many other industries, have been targeted in a series of lawsuits in several jurisdictions by various individuals seeking redress to claimed injury as a result of the entities’ alleged use of asbestos in their products. Since 2001, the Company and some of its subsidiaries have been involved in this mass-scaled litigation, typically as one of many co-defendants in a particular proceeding. The allegations in the lawsuits involving the Company and/or its subsidiaries have been vague, general and speculative. Most of these lawsuits have been dismissed without advancing beyond the early stage of discovery, some as a result of nominal monetary settlements recommended for payment by the Company's insurers. The claims and related legal expenses generally have been covered by the Company's insurance, subject to applicable deductibles and limitations. Accordingly, this series of lawsuits has not, cumulatively or individually, had a material adverse impact on the Company's consolidated results of operations, liquidity or financial condition, nor is it expected to have any such impact in the future, based on the current knowledge of the Company.

In addition, the Company and/or its subsidiaries are parties in a small number of legal proceedings arising in the ordinary course of business. Management does not currently believe that these proceedings will materially impact the Company’s consolidated results of operations, liquidity or financial condition.

The opening of Item 3, Legal Proceedings.17

Sources

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  46. 46
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  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
    SEC EDGAROther events
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72