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Pay vs Performance Disclosure - USD ($)
12 Months Ended 36 Months Ended
Dec. 31, 2022
Dec. 25, 2021
Dec. 26, 2020
Dec. 31, 2022
Pay vs Performance Disclosure [Table]        
Pay vs Performance [Table Text Block]      
Pay Versus Performance

 

As required by Section 953(a) of Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K we are providing the following information to show how compensation actually paid (“CAP”) to the PEO and the Non-PEO NEOs (as defined below) (averaged) relates to total shareholder return, net income and operating income for the years 2020-2022.

 

           Average       Value of Initial Fixed $100
Investment Based on:
         
Fiscal Year Ended  Summary
Compensation
Table Total for
PEO
   Compensation
Actually Paid to
PEO
   Summary
Compensation
Table Total for
Non-PEO NEOs
   Average
Compensation
Actually Paid to
Non-PEO NEOs
   Total
Shareholder
Return
   Peer Group
Total
Shareholder
Return
   Net Income   Operating
Income
 
(a)  (b)   (c)   (d)   (e)   (f)   (g)   (h)   (i) 
December 31, 2022  $4,585,595   $900,886   $1,888,561   $698,576   $100.81   $104.45   $973,585,000   $1,027,845,000 
December 25, 2021  $4,238,341   $5,967,081   $1,694,354   $2,271,591   $142.59   $165.87   $1,082,200,000   $1,218,620,000 
December 26, 2020  $3,684,276   $5,909,431   $1,596,351   $2,383,954   $125.14   $133.30   $992,324,000   $1,054,240,000 

 

The PEO for each year was Clifton A. Pemble. For 2022, the Non-PEO NEOs were Douglas G. Boessen, Andrew R. Etkind, Philip I. Straub and Patrick G. Desbois. For 2021 and 2020, the Non-PEO NEOs were Min H. Kao, Douglas G. Boessen, Andrew R. Etkind, Philip I. Straub and Patrick G. Desbois.

 

The peer group for purposes of the table above is the S&P 500 Consumer Discretionary Index.

 

To calculate CAP for our PEO, the following amounts were deducted from and added to Summary Compensation Table (“SCT”) total compensation, as required under Item 402(v) of Regulation S-K:

 

Year  SCT Total       Deduction of
Reported Value of
Equity Awards
      Equity Award
Adjustments
       CAP
       (i)   (ii)    
December 31, 2022  $ 4,585,595   $(3,323,452)  $(361,257)  $900,886
December 25, 2021  $4,238,341   $(3,003,686)  $4,732,426   $ 5,967,081
December 26, 2020  $3,684,276   $(2,599,853)  $4,825,008   $5,909,431

 

(i) Represents the grant date fair value of equity-based awards granted each year shown, as reported in the SCT. As required under Item 402(v) of Regulation S-K, this value is deducted from SCT total compensation to calculate CAP for each year shown.
(ii)

Represents equity award adjustments for each year shown, calculated in accordance with the methodology required under Item 402(v) of Regulation S-K. The amounts deducted or added in calculating the equity award adjustments are provided in the supplemental table below:

 

Equity Award Adjustments for PEO  2022   2021   2020 
RSUs:                           
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $ 1,850,599   $ 1,663,383   $ 1,419,079 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(513,916)  $173,666   $304,853 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(516,070)  $208,362   $315,569 
PC-RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $-   $2,352,257   $2,574,357 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(793,151)  $263,567   $310,319 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(388,719)  $71,191   $(99,169)
TOTAL EQUITY AWARD ADJUSTMENTS FOR PEO  $(361,257)  $4,732,426   $4,825,008 

 

To calculate CAP for our Non-PEO NEOs (averaged), the following amounts were deducted from and added to SCT total compensation, as required under Item 402(v) of Regulation S-K:

 

Year  SCT Total  

Deduction of

Reported Value of

Equity Awards

  

Equity Award

Adjustments

   CAP 
       (i)   (iii)     
December 31, 2022  $  1,888,561   $(1,034,936)  $(155,049)  $698,576 
December 25, 2021  $1,694,354   $(892,596)  $1,469,833   $  2,271,591 
December 26, 2020  $1,596,351   $(843,849)  $1,631,452   $2,383,954 

 

(i) Represents the grant date fair value of equity-based awards granted each year shown, as reported in the SCT. As required under Item 402(v) of Regulation S-K, this value is deducted from SCT total compensation to calculate CAP for each year shown.
(ii) Represents the value of equity award adjustments for each year shown, as calculated in accordance with the methodology required under Item 402(v) of Regulation S-K. The amounts deducted or added in calculating the equity award adjustments are provided in the supplemental table below:

 

Equity Award Adjustments for Non-PEO NEOs      2022       2021       2020 
RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $548,618   $438,136   $407,422 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(139,301)  $50,459   $93,083 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(145,836)  $63,083   $99,505 
PC-RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $-   $790,793   $939,757 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(275,337)  $99,430   $128,340 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(143,193)  $27,932   $(36,655)
TOTAL EQUITY AWARD ADJUSTMENTS FOR NON-PEO NEOs  $(155,049)  $1,469,833   $1,631,452 
Company Selected Measure Name       Operating Income
Named Executive Officers, Footnote [Text Block]      

The PEO for each year was Clifton A. Pemble. For 2022, the Non-PEO NEOs were Douglas G. Boessen, Andrew R. Etkind, Philip I. Straub and Patrick G. Desbois. For 2021 and 2020, the Non-PEO NEOs were Min H. Kao, Douglas G. Boessen, Andrew R. Etkind, Philip I. Straub and Patrick G. Desbois.

 

Peer Group Issuers, Footnote [Text Block]      

The peer group for purposes of the table above is the S&P 500 Consumer Discretionary Index.

 

PEO Total Compensation Amount $ 4,585,595 $ 4,238,341 $ 3,684,276  
PEO Actually Paid Compensation Amount 900,886 5,967,081 5,909,431  
Adjustment To PEO Compensation, Footnote [Text Block]      

To calculate CAP for our PEO, the following amounts were deducted from and added to Summary Compensation Table (“SCT”) total compensation, as required under Item 402(v) of Regulation S-K:

 

Year  SCT Total       Deduction of
Reported Value of
Equity Awards
      Equity Award
Adjustments
       CAP
       (i)   (ii)    
December 31, 2022  $ 4,585,595   $(3,323,452)  $(361,257)  $900,886
December 25, 2021  $4,238,341   $(3,003,686)  $4,732,426   $ 5,967,081
December 26, 2020  $3,684,276   $(2,599,853)  $4,825,008   $5,909,431

 

(i) Represents the grant date fair value of equity-based awards granted each year shown, as reported in the SCT. As required under Item 402(v) of Regulation S-K, this value is deducted from SCT total compensation to calculate CAP for each year shown.
(ii)

Represents equity award adjustments for each year shown, calculated in accordance with the methodology required under Item 402(v) of Regulation S-K. The amounts deducted or added in calculating the equity award adjustments are provided in the supplemental table below:

 

Equity Award Adjustments for PEO  2022   2021   2020 
RSUs:                           
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $ 1,850,599   $ 1,663,383   $ 1,419,079 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(513,916)  $173,666   $304,853 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(516,070)  $208,362   $315,569 
PC-RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $-   $2,352,257   $2,574,357 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(793,151)  $263,567   $310,319 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(388,719)  $71,191   $(99,169)
TOTAL EQUITY AWARD ADJUSTMENTS FOR PEO  $(361,257)  $4,732,426   $4,825,008 

 

Non-PEO NEO Average Total Compensation Amount 1,888,561 1,694,354 1,596,351  
Non-PEO NEO Average Compensation Actually Paid Amount $ 698,576 2,271,591 2,383,954  
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]      

To calculate CAP for our Non-PEO NEOs (averaged), the following amounts were deducted from and added to SCT total compensation, as required under Item 402(v) of Regulation S-K:

 

Year  SCT Total  

Deduction of

Reported Value of

Equity Awards

  

Equity Award

Adjustments

   CAP 
       (i)   (iii)     
December 31, 2022  $  1,888,561   $(1,034,936)  $(155,049)  $698,576 
December 25, 2021  $1,694,354   $(892,596)  $1,469,833   $  2,271,591 
December 26, 2020  $1,596,351   $(843,849)  $1,631,452   $2,383,954 

 

(i) Represents the grant date fair value of equity-based awards granted each year shown, as reported in the SCT. As required under Item 402(v) of Regulation S-K, this value is deducted from SCT total compensation to calculate CAP for each year shown.
(ii) Represents the value of equity award adjustments for each year shown, as calculated in accordance with the methodology required under Item 402(v) of Regulation S-K. The amounts deducted or added in calculating the equity award adjustments are provided in the supplemental table below:

 

Equity Award Adjustments for Non-PEO NEOs      2022       2021       2020 
RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $548,618   $438,136   $407,422 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(139,301)  $50,459   $93,083 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(145,836)  $63,083   $99,505 
PC-RSUs:               
Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end  $-   $790,793   $939,757 
Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end  $(275,337)  $99,430   $128,340 
Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year  $(143,193)  $27,932   $(36,655)
TOTAL EQUITY AWARD ADJUSTMENTS FOR NON-PEO NEOs  $(155,049)  $1,469,833   $1,631,452 
Compensation Actually Paid vs. Total Shareholder Return [Text Block]      
Relationship Between Compensation Actually Paid and Performance

 

As required pursuant to Item 402(v) of Regulation S-K, in the charts below we show the relationship for the years shown between CAP for the PEO and the non-PEO NEOs and each of the following: (1) total shareholder return (“TSR”) for Garmin and for the S&P 500 Consumer Discretionary Index; (2) net income; and (3) operating income. As stated above, the Compensation Committee uses operating income and revenue to link CAP to performance. The Compensation Committee does not use TSR or net income.

 

Compensation Actually Paid vs. Net Income [Text Block]      

Compensation Actually Paid vs. Company Selected Measure [Text Block]      

Tabular List [Table Text Block]
Most Important Performance Measures

 

As required under Item 402(v) of Regulations S-K, in the table below we list the financial performance measures used by the Compensation Committee to link compensation actually paid to the NEOs to Garmin’s performance.

 

Operating Income  
Revenue  
     
Total Shareholder Return Amount $ 100.81 142.59 125.14  
Peer Group Total Shareholder Return Amount 104.45 165.87 133.3  
Net Income (Loss) $ 973,585,000 $ 1,082,200,000 $ 992,324,000  
Company Selected Measure Amount 1,027,845,000 1,218,620,000 1,054,240,000  
PEO Name       Clifton A. Pemble
Measure [Axis]: 1        
Pay vs Performance Disclosure [Table]        
Measure Name Operating Income      
Measure [Axis]: 2        
Pay vs Performance Disclosure [Table]        
Measure Name Revenue      
PEO [Member] | Deduction of Reported Value of Equity Awards [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount $ (3,323,452) $ (3,003,686) $ (2,599,853)  
PEO [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (361,257) 4,732,426 4,825,008  
PEO [Member] | RSUs Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 1,850,599 1,663,383 1,419,079  
PEO [Member] | RSUsIncrease (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (513,916) 173,666 304,853  
PEO [Member] | RSUsIncrease (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (516,070) 208,362 315,569  
PEO [Member] | PC-RSUs Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   2,352,257 2,574,357  
PEO [Member] | PC-RSUs Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (793,151) 263,567 310,319  
PEO [Member] | PC-RSUs Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (388,719) 71,191 (99,169)  
PEO [Member] | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (361,257) 4,732,426 4,825,008  
Non-PEO NEO [Member] | Deduction of Reported Value of Equity Awards [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (1,034,936) (892,596) (843,849)  
Non-PEO NEO [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (155,049) 1,469,833 1,631,452  
Non-PEO NEO [Member] | RSUs Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 548,618 438,136 407,422  
Non-PEO NEO [Member] | RSUsIncrease (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (139,301) 50,459 93,083  
Non-PEO NEO [Member] | RSUsIncrease (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (145,836) 63,083 99,505  
Non-PEO NEO [Member] | PC-RSUs Increase (Decrease) for Fair Value of Awards Granted during Year that Remain Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount   790,793 939,757  
Non-PEO NEO [Member] | PC-RSUs Increase (Decrease) for Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (275,337) 99,430 128,340  
Non-PEO NEO [Member] | PC-RSUs Increase (Decrease) for Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (143,193) 27,932 (36,655)  
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount $ (155,049) $ 1,469,833 $ 1,631,452