XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.21.2

Intangible Assets (Tables) | 6 Months Ended
--- | ---
Jun. 25, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | Components of other intangible assets were as follows (dollars in thousands):
| Finite Life |  | Indefinite Life |  |
| Customer Relationships |  | Patents and Proprietary Technology |  | Trademarks, Trade Names and Other |  | Trade Names |  | Total
As of June 25, 2021 |  |  |  |  |  |  |  |  |
Cost | $ | 194,505 |  |  | $ | 26,074 |  |  | $ | 900 |  |  | $ | 62,633 |  |  | $ | 284,112 |
Accumulated amortization | (101,173) |  |  | (14,312) |  |  | (376) |  |  | — |  |  | (115,861) |
Foreign currency translation | (6,757) |  |  | (603) |  |  | — |  |  | (1,030) |  |  | (8,390) |
Book value | $ | 86,575 |  |  | $ | 11,159 |  |  | $ | 524 |  |  | $ | 61,603 |  |  | $ | 159,861 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
As of December 25, 2020 |  |  |  |  |  |  |  |  |
Cost | $ | 186,073 |  |  | $ | 25,187 |  |  | $ | 900 |  |  | $ | 61,920 |  |  | $ | 274,080 |
Accumulated amortization | (93,832) |  |  | (12,924) |  |  | (301) |  |  | — |  |  | (107,057) |
Foreign currency translation | (6,004) |  |  | (538) |  |  | — |  |  | 188 |  |  | (6,354) |
Book value | $ | 86,237 |  |  | $ | 11,725 |  |  | $ | 599 |  |  | $ | 62,108 |  |  | $ | 160,669 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
Future Amortization Expense | Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2021 (Remainder) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter
Estimated Amortization Expense | $ | 9,003 |  |  | $ | 17,964 |  |  | $ | 17,076 |  |  | $ | 15,518 |  |  | $ | 14,946 |  |  | $ | 23,751 |
Goodwill Rollforward | Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 25, 2020 | $ | 186,536 |  |  | $ | 141,513 |  |  | $ | 19,554 |  |  | $ | 347,603 |
Additions, adjustments from business acquisitions | 13,249 |  |  | — |  |  | — |  |  | 13,249 |
Foreign currency translation | (2,835) |  |  | 432 |  |  | — |  |  | (2,403) |
Balance, June 25, 2021 | $ | 196,950 |  |  | $ | 141,945 |  |  | $ | 19,554 |  |  | $ | 358,449 |

X
- Definition Disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived and indefinite lived intangible assets by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References No definition available. + Details
Name: | ggg_ScheduleOfAcquiredFiniteLivedAndIndefiniteLivedIntangibleAssetsByMajorClassTableTextBlock
Namespace Prefix: | ggg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration