XML 21 R10.htm IDEA: XBRL DOCUMENT
v3.21.2

Note 3 - Redeemable Noncontrolling Interest | 9 Months Ended
--- | ---
Sep. 30, 2021
Notes to Financial Statements |
Redeemable Noncontrolling Interest [Text Block] | 3. Redeemable Noncontrolling Interest On March 1, 2016, the Company acquired a 65% ownership interest in PR Industrial S.r.l. and its subsidiaries (Pramac). The 35% noncontrolling interest in Pramac had an acquisition date fair value of $34,253, and was recorded as a redeemable noncontrolling interest in the condensed consolidated balance sheet, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Pramac. In February 2019, the Company amended its agreement with the noncontrolling interest holder of Pramac, extending the agreement by five years, allowing the Company to exercise its call option rights in partial increments at certain times during the five year period, and providing that the noncontrolling interest holder no longer holds the right to put its shares to the Company until April 1, 2021. The put and call option price is based on a multiple of earnings, subject to a floor and the terms of the acquisition agreement, as amended. In May 2021, the Company exercised its call option rights and paid a purchase price of $27,164 to purchase an additional 15% ownership interest in Pramac, bringing the Company's total ownership interest in Pramac to 80%. The Company still holds its call option right to purchase the remaining 20% ownership interest in partial increments over the next 3 years. On February 1, 2019, the Company acquired a 51% ownership interest in Captiva. The 49% noncontrolling interest in Captiva had an acquisition date fair value of $3,165, and was recorded as a redeemable noncontrolling interest in the condensed consolidated balance sheet, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Captiva. The noncontrolling interest holder has a put option to sell his interest to the Company any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. Further, the Company has a call option that it may redeem any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. The put and call option price is based on a multiple of earnings, subject to the terms of the acquisition. For both transactions, the redeemable noncontrolling interest is recorded at the greater of the initial fair value, increased or decreased for the noncontrolling interests’ share of comprehensive income (loss), or the estimated redemption value, with any adjustments to the redemption value impacting retained earnings, but not net income. However, the redemption value adjustments are reflected in the earnings per share calculation, as detailed in Note 13, “Earnings Per Share,” to the condensed consolidated financial statements. The following table presents the changes in the redeemable noncontrolling interest:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Balance at beginning of period |  | $ | 37,245 |  |  | $ | 61,019 |  |  | $ | 66,207 |  |  | $ | 61,227 |
Net income |  |  | 1,007 |  |  |  | 80 |  |  |  | 2,700 |  |  |  | (2,601 | )
Foreign currency translation |  |  | (1,105 | ) |  |  | 3,257 |  |  |  | (2,726 | ) |  |  | 2,638 |
Purchase of additional ownership interest |  |  | - |  |  |  | - |  |  |  | (27,164 | ) |  |  | - |
Redemption value adjustment |  |  | 7,557 |  |  |  | (811 | ) |  |  | 5,687 |  |  |  | 2,281 |
Balance at end of period |  | $ | 44,704 |  |  | $ | 63,545 |  |  | $ | 44,704 |  |  | $ | 63,545 |

X
- Definition Entire disclosure for redeemable noncontrolling interest. + References No definition available. + Details
Name: | gnrc_RedeemableNoncontrollingInterestTextBlock
Namespace Prefix: | gnrc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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