Cover and table of contents

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Cover and table of contents

10-K 1 ndsn-10k_20171031.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)

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

For the fiscal year ended October 31, 2017

OR

☐TRANSITION 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 ☒ No ☐

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 ☐ No ☒

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 ☒ No ☐

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 ☒ No ☐

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. ☒

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

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐ (Do not check if smaller reporting company)Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

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

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, 2017 was approximately $7,182,626,437.

There were 57,745,608 Common Shares outstanding as of November 30, 2017.

Documents incorporated by reference: Portions of the Proxy Statement for the 2018 Annual Meeting - Part III

Table of Contents

PART I4
Item 1.Business4
General Description of Business4
Corporate Purpose and Goals4
Financial Information About Operating Segments, Foreign and Domestic Operations and Export Sales5
Principal Products and Uses5
Manufacturing and Raw Materials7
Intellectual Property7
Seasonal Variation in Business7
Working Capital Practices8
Customers8
Backlog8
Government Contracts8
Competitive Conditions8
Research and Development8
Environmental Compliance8
Employees9
Available Information9
Item 1A.Risk Factors10
Item 1B.Unresolved Staff Comments15
Item 2.Properties16
Item 3.Legal Proceedings17
Item 4.Mine Safety Disclosures17
Executive Officers of the Company17
PART II19
Item 5.Market for the Company’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities19
Market Information and Dividends19
Performance Graph20
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 Risk33
Item 8.Financial Statements and Supplementary Data35
Consolidated Statements of Income35
Consolidated Statements of Comprehensive Income36
Consolidated Balance Sheets37
Consolidated Statements of Shareholders’ Equity38
Consolidated Statements of Cash Flows39
Notes to Consolidated Financial Statements40
Management’s Report on Internal Control Over Financial Reporting70
Report of Independent Registered Public Accounting Firm71
Report of Independent Registered Public Accounting Firm72
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure73
Item 9A.Controls and Procedures73
Item 9B.Other Information73

Nordson Corporation 2

PART III74
Item 10.Directors, Executive Officers and Corporate Governance74
Item 11.Executive Compensation74
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters74
Equity Compensation Table74
Item 13.Certain Relationships and Related Transactions, and Director Independence74
Item 14.Principal Accountant Fees and Services75
PART IV76
Item 15.Exhibits and Financial Statement Schedule76
(a) 1. Financial Statements76
(a) 2. Financial Statement Schedule76
(a) 3. Exhibits76
Index to Exhibits77
Item 16.Form 10-K Summary80
Signatures81
Schedule II – Valuation and Qualifying Accounts and Reserves83
Subsidiaries of the Registrant
Consent of Independent Registered Public Accounting Firm
Certifications

Nordson Corporation 3

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