XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.22.1

Intangible Assets (Tables) | 3 Months Ended
--- | ---
Apr. 01, 2022
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 April 1, 2022 |  |  |  |  |  |  |  |  |
Cost | $ | 202,903 |  |  | $ | 26,974 |  |  | $ | 1,700 |  |  | $ | 62,633 |  |  | $ | 294,210 |
Accumulated amortization | (112,499) |  |  | (16,454) |  |  | (503) |  |  | — |  |  | (129,456) |
Foreign currency translation | (8,410) |  |  | (761) |  |  | — |  |  | (1,577) |  |  | (10,748) |
Book value | $ | 81,994 |  |  | $ | 9,759 |  |  | $ | 1,197 |  |  | $ | 61,056 |  |  | $ | 154,006 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
As of December 31, 2021 |  |  |  |  |  |  |  |  |
Cost | $ | 194,505 |  |  | $ | 26,074 |  |  | $ | 900 |  |  | $ | 62,633 |  |  | $ | 284,112 |
Accumulated amortization | (108,657) |  |  | (15,734) |  |  | (452) |  |  | — |  |  | (124,843) |
Foreign currency translation | (7,710) |  |  | (707) |  |  | — |  |  | (1,112) |  |  | (9,529) |
Book value | $ | 78,138 |  |  | $ | 9,633 |  |  | $ | 448 |  |  | $ | 61,521 |  |  | $ | 149,740 |
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):
| 2022 (Remainder) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Estimated Amortization Expense | $ | 14,503 |  |  | $ | 17,776 |  |  | $ | 16,533 |  |  | $ | 15,967 |  |  | $ | 9,155 |  |  | $ | 19,016 |
Goodwill Rollforward | Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 31, 2021 | $ | 185,733 |  |  | $ | 141,304 |  |  | $ | 29,218 |  |  | $ | 356,255 |
Additions, adjustments from business acquisitions | — |  |  | 16,862 |  |  | — |  |  | 16,862 |
Foreign currency translation | (1,246) |  |  | (470) |  |  | — |  |  | (1,716) |
Balance, April 1, 2022 | $ | 184,487 |  |  | $ | 157,696 |  |  | $ | 29,218 |  |  | $ | 371,401 |

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