W.W. Grainger, Inc. Files 2023 Annual Report on Form 10-K

Ticker: GWW · Form: 10-K · Filed: Feb 22, 2024 · CIK: 277135

Sentiment: neutral

Topics: 10-K, Annual Report, Financials, W.W. Grainger, GWW

TL;DR

<b>W.W. Grainger, Inc. has submitted its 2023 Form 10-K, detailing its annual financial performance and business operations.</b>

AI Summary

W.W. GRAINGER, INC. (GWW) filed a Annual Report (10-K) with the SEC on February 22, 2024. W.W. Grainger, Inc. filed its annual report for the fiscal year ended December 31, 2023. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition. The company's principal executive offices are located at 100 Grainger Parkway, Lake Forest, IL 60045-5201. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. The report includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking W.W. GRAINGER, INC., this filing contains several important signals. This 10-K filing provides investors and analysts with the most up-to-date, audited financial statements and management's discussion and analysis of the company's performance for the fiscal year 2023. Understanding the detailed financial information and risk factors presented in this filing is crucial for assessing W.W. Grainger's current financial health, operational strategies, and future outlook.

Risk Assessment

Risk Level: low — W.W. GRAINGER, INC. shows low risk based on this filing. The risk is low as this is a standard annual filing (10-K) for a well-established company, providing routine financial disclosures rather than announcing significant new risks or negative events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand W.W. Grainger's performance drivers and strategic priorities for 2024.

Key Numbers

Key Players & Entities

FAQ

When did W.W. GRAINGER, INC. file this 10-K?

W.W. GRAINGER, INC. filed this Annual Report (10-K) with the SEC on February 22, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by W.W. GRAINGER, INC. (GWW).

Where can I read the original 10-K filing from W.W. GRAINGER, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by W.W. GRAINGER, INC..

What are the key takeaways from W.W. GRAINGER, INC.'s 10-K?

W.W. GRAINGER, INC. filed this 10-K on February 22, 2024. Key takeaways: W.W. Grainger, Inc. filed its annual report for the fiscal year ended December 31, 2023.. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition.. The company's principal executive offices are located at 100 Grainger Parkway, Lake Forest, IL 60045-5201..

Is W.W. GRAINGER, INC. a risky investment based on this filing?

Based on this 10-K, W.W. GRAINGER, INC. presents a relatively low-risk profile. The risk is low as this is a standard annual filing (10-K) for a well-established company, providing routine financial disclosures rather than announcing significant new risks or negative events.

What should investors do after reading W.W. GRAINGER, INC.'s 10-K?

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand W.W. Grainger's performance drivers and strategic priorities for 2024. The overall sentiment from this filing is neutral.

How does W.W. GRAINGER, INC. compare to its industry peers?

W.W. Grainger operates in the wholesale trade of durable goods sector, serving industrial, commercial, and institutional customers.

Are there regulatory concerns for W.W. GRAINGER, INC.?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

Industry Context

W.W. Grainger operates in the wholesale trade of durable goods sector, serving industrial, commercial, and institutional customers.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

  1. Analyze the financial statements for revenue trends, profitability, and balance sheet strength.
  2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and strategic initiatives.
  3. Examine any disclosed risk factors to understand potential challenges and their impact on the company.

Key Dates

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the latest annual financial data.

Filing Stats: 4,304 words · 17 min read · ~14 pages · Grade level 14.6 · Accepted 2024-02-22 16:42:01

Filing Documents

: RISK FACTORS 12

Item 1A: RISK FACTORS 12

: UNRESOLVED STAFF COMMENTS 21

Item 1B: UNRESOLVED STAFF COMMENTS 21

: CYBERSECURITY 2 2

Item 1C: CYBERSECURITY 2 2

: PROPERTIES 22

Item 2: PROPERTIES 22

: LEGAL PROCEEDINGS 22

Item 3: LEGAL PROCEEDINGS 22

: MINE SAFETY DISCLOSURES 22

Item 4: MINE SAFETY DISCLOSURES 22 PART II

: MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER 23

Item 5: MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER 23 MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 25

Item 7: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 25 CONDITION AND RESULTS OF OPERATIONS

: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36

Item 7A: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36

: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 37

Item 8: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 37

: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS 65

Item 9: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS 65 ON ACCOUNTING AND FINANCIAL DISCLOSURE

: CONTROLS AND PROCEDURES 65

Item 9A: CONTROLS AND PROCEDURES 65

: OTHER INFORMATION 67

Item 9B: OTHER INFORMATION 67

: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 67

Item 9C: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 67 PART III

: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 68

Item 10: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 68

: EXECUTIVE COMPENSATION 68

Item 11: EXECUTIVE COMPENSATION 68

: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND 68

Item 12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND 68 RELATED STOCKHOLDER MATTERS

: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR 68

Item 13: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR 68 INDEPENDENCE

: PRINCIPAL ACCOUNTANT FEES AND SERVICES 68

Item 14: PRINCIPAL ACCOUNTANT FEES AND SERVICES 68 PART IV

: EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 7 0

Item 15: EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 7 0

: FORM 10-K SUMMARY 7 3

Item 16: FORM 10-K SUMMARY 7 3 Signatures 73 2

Forward-Looking Statements

Forward-Looking Statements From time to time in this Annual Report on Form 10-K as well as in other written reports, communications and verbal statements, Grainger (as defined below) makes forward-looking statements that are not historical in nature but concern forecasts of future results, business plans, analyses, prospects, strategies, objectives and other matters that may be deemed to be "forward-looking statements" under the federal securities laws. Forward-looking statements can generally be identified by their use of terms such as "anticipate," "estimate," "believe," "expect," "could," "forecast," "may," "intend," "plan," "predict," "project," "will," or "would," and similar terms and phrases, including references to assumptions. Grainger cannot guarantee that any forward-looking statement will be realized and achievement of future results is subject to risks and uncertainties, many of which are beyond Grainger's control, which could cause Grainger's results to differ materially from those that are presented. Important factors that could cause actual results to differ materially from those presented or implied in the forward-looking statements include, without limitation: inflation, higher product costs or other expenses, including operational and administrative expenses; the impact of macroeconomic pressures and geopolitical trends, changes and events; a major loss of customers; loss or disruption of sources of supply; changes in customer or product mix; increased competitive pricing pressures; changes in third-party practices regarding digital advertising; failure to enter into or sustain contractual arrangements on a satisfactory basis with group purchasing organizations; failure to develop, manage or implement new technology initiatives or business strategies, including with respect to Grainger's eCommerce platforms; failure to adequately protect intellectual property or successfully defend against infringement claims; fluctuations or declines in Grai

: Business

Item 1: Business W.W. Grainger, Inc., incorporated in the State of Illinois in 1928, is a broad line, distributor of maintenance, repair and operating (MRO) products and services with operations primarily in North America, Japan and the United Kingdom (U.K.). In this report, the words "Grainger" or "Company" mean W.W. Grainger, Inc. and its subsidiaries, except where the context makes it clear that the reference is only to W.W. Grainger, Inc. itself and not its subsidiaries. For financial information regarding the Company, see the Consolidated Financial Statements and Notes included in Part II, Item 8: Financial Statements and Supplementary Data of this Form 10-K. The Grainger Edge Grainger's strategic framework, "The Grainger Edge," uniquely defines the Company by asserting why it exists, how it serves customers and how team members work together to achieve its objectives. Grainger's purpose is We Keep the World Working, which in turn allows customers to focus on the core of their businesses and do what they do best. This framework also outlines a set of principles that define the behaviors expected from Grainger's team members in working with each other and the Company's customers, suppliers and communities as Grainger executes its strategy and creates value for shareholders. For further information on the Company's principles, see below "Workplace Practices and Policies." General Grainger's two reportable segments are High-Touch Solutions North America (High-Touch Solutions N.A.) and Endless Assortment. These reportable segments align with Grainger's go-to-market strategies and bifurcated business models of high-touch solutions and endless assortment. For further segment information, see Part II, Item 7: Management's Discussion and Analysis (MD&A) of Financial Condition and Results of Operations and Note 13 of the Notes to Consolidated Financial Statements in Part II, Item 8: Financial Statements and Supplementary Data of this Form 10-K. Below is a d

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