Cover and table of contents

9K characters. Original on sec.gov · Markdown

Cover and table of contents

10-K 1 ndsn-10k_20151031.htm 10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

(Mark One)

xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended October 31, 2015

OR

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 0-7977

NORDSON CORPORATION

(Exact name of Registrant as specified in its charter)

Ohio34-0590250
(State of incorporation)(I.R.S. Employer Identification No.)
28601 Clemens Road Westlake, Ohio44145
(Address of principal executive offices)(Zip Code)

(440) 892-1580

(Registrant’s Telephone Number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Common Shares, without par value

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No o

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files). Yes x No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filerxAccelerated filero
Non-accelerated filero (Do not check if smaller reporting company)Smaller reporting companyo

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

The aggregate market value of Common Shares, no par value per share, held by nonaffiliates (based on the closing sale price on the Nasdaq Stock Market) as of April 30, 2015 was approximately $4,822,925,000.

There were 57,085,557 Common Shares outstanding as of November 30, 2015.

Documents incorporated by reference: Portions of the Proxy Statement for the 2016 Annual Meeting - Part III

Table of Contents

PART I3
Item 1.Business3
General Description of Business3
Corporate Purpose and Goals3
Financial Information About Operating Segments, Foreign and Domestic Operations and Export Sales4
Principal Products and Uses4
Manufacturing and Raw Materials6
Intellectual Property6
Seasonal Variation in Business7
Working Capital Practices7
Customers7
Backlog7
Government Contracts7
Competitive Conditions7
Research and Development7
Environmental Compliance7
Employees8
Available Information8
Item 1A.Risk Factors9
Item 1B.Unresolved Staff Comments14
Item 2.Properties15
Item 3.Legal Proceedings16
Item 4.Mine Safety Disclosures16
Executive Officers of the Company17
PART II18
Item 5.Market for the Company’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities18
Market Information and Dividends18
Performance Graph19
Item 6.Selected Financial Data21
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations22
Critical Accounting Policies and Estimates22
Item 7A.Quantitative and Qualitative Disclosures About Market Risk36
Item 8.Financial Statements and Supplementary Data37
Consolidated Statements of Income37
Consolidated Statements of Comprehensive Income38
Consolidated Balance Sheets39
Consolidated Statements of Shareholders’ Equity40
Consolidated Statements of Cash Flows41
Notes to Consolidated Financial Statements42
Management’s Report on Internal Control Over Financial Reporting75
Report of Independent Registered Public Accounting Firm76
Report of Independent Registered Public Accounting Firm77
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure78
Item 9A.Controls and Procedures78
Item 9B.Other Information78
PART III78
Item 10.Directors, Executive Officers and Corporate Governance78
Item 11.Executive Compensation79
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters79
Equity Compensation Table79
Item 13.Certain Relationships and Related Transactions, and Director Independence79
Item 14.Principal Accountant Fees and Services79
PART IV80
Item 15.Exhibits and Financial Statement Schedule80
(a) 1. Financial Statements80
(a) 2. Financial Statement Schedule80
(a) 3. Exhibits80
Signatures81
Schedule II – Valuation and Qualifying Accounts and Reserves83
Index to Exhibits84
Subsidiaries of the Registrant
Consent of Independent Registered Public Accounting Firm
Certifications

Nordson Corporation 2

PART I

NOTE REGARDING AMOUNTS AND FISCAL YEAR REFERENCES

In this annual report, all amounts related to United States dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands. Unless the context otherwise indicates, all references to “we,” “us,” “our,” or the “Company” mean Nordson Corporation.

Unless otherwise noted, all references to years relate to our fiscal year ending October 31.

Next: Item 1. Business