2023 Q1 Form 10-K Financial Statement

#000004288823000008 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $529.6M $555.0M $2.144B
YoY Change 2.86% 7.84%
Cost Of Revenue $244.5M $282.2M $1.086B
YoY Change 6.48% 13.89%
Gross Profit $285.1M $272.8M $1.057B
YoY Change -0.63% 2.27%
Gross Profit Margin 53.84% 49.15% 49.33%
Selling, General & Admin $108.0M $99.05M $404.7M
YoY Change -10.81% -4.31%
% of Gross Profit 37.87% 36.31% 38.27%
Research & Development $20.48M $21.26M $80.01M
YoY Change 12.41% 0.45%
% of Gross Profit 7.18% 7.79% 7.57%
Depreciation & Amortization $17.99M $17.77M $66.00M
YoY Change 22.76% 11.25%
% of Gross Profit 6.31% 6.52% 6.24%
Operating Expenses $128.5M $120.3M $484.7M
YoY Change -7.43% -3.56%
Operating Profit $156.7M $152.5M $572.7M
YoY Change 5.47% 7.79%
Interest Expense $1.347M -$1.342M $9.897M
YoY Change -51.36% -3.11%
% of Operating Profit 0.86% -0.88% 1.73%
Other Income/Expense, Net $2.029M $2.815M $2.921M
YoY Change -122.32% -123.1%
Pretax Income $157.4M $154.0M $565.7M
YoY Change 19.16% 11.26%
Income Tax $28.18M $27.79M $105.1M
% Of Pretax Income 17.91% 18.05% 18.57%
Net Earnings $129.2M $126.2M $460.6M
YoY Change 4.96% 4.72%
Net Earnings / Revenue 24.39% 22.74% 21.49%
Basic Earnings Per Share $0.77 $2.73
Diluted Earnings Per Share $0.75 $0.74 $2.66
COMMON SHARES
Basic Shares Outstanding 167.8M shares 168.5M shares
Diluted Shares Outstanding 171.7M shares 172.9M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $395.3M $339.2M $339.2M
YoY Change -45.67% -45.67%
Cash & Equivalents $395.3M $339.2M $339.2M
Short-Term Investments
Other Short-Term Assets $39.43M $43.62M $24.92M
YoY Change 36.81% 16.45%
Inventory $497.2M $476.8M $476.8M
Prepaid Expenses
Receivables $356.5M $346.0M $346.0M
Other Receivables $0.00 $0.00 $18.70M
Total Short-Term Assets $1.288B $1.206B $1.206B
YoY Change -11.59% -11.59%
LONG-TERM ASSETS
Property, Plant & Equipment $633.5M $607.6M $637.4M
YoY Change 34.71% 32.48%
Goodwill $370.1M $368.2M
YoY Change 3.34%
Intangibles $134.1M $137.5M
YoY Change -8.17%
Long-Term Investments $8.767M
YoY Change 16.26%
Other Assets $34.16M $33.12M $79.25M
YoY Change -9.73% -3.98%
Total Long-Term Assets $1.258B $1.233B $1.233B
YoY Change 14.24% 14.24%
TOTAL ASSETS
Total Short-Term Assets $1.288B $1.206B $1.206B
Total Long-Term Assets $1.258B $1.233B $1.233B
Total Assets $2.546B $2.439B $2.439B
YoY Change -0.18% -0.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.38M $84.22M $84.22M
YoY Change 7.38% 7.38%
Accrued Expenses $85.91M $111.3M $111.3M
YoY Change -15.45% -15.45%
Deferred Revenue $45.13M $50.75M
YoY Change -16.2%
Short-Term Debt $41.91M $20.97M $20.97M
YoY Change -51.77% -51.77%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $381.7M $399.9M $399.9M
YoY Change -21.09% -21.09%
LONG-TERM LIABILITIES
Long-Term Debt $75.00M $75.00M $75.00M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $10.86M $12.16M $94.89M
YoY Change 10.76% -32.89%
Total Long-Term Liabilities $85.86M $87.16M $169.9M
YoY Change 1.37% -21.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $381.7M $399.9M $399.9M
Total Long-Term Liabilities $85.86M $87.16M $169.9M
Total Liabilities $467.6M $487.1M $579.2M
YoY Change -17.83% -21.07%
SHAREHOLDERS EQUITY
Retained Earnings $1.060B $976.9M
YoY Change 11.4%
Common Stock $989.9M $952.2M
YoY Change 4.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.986B $1.860B $1.860B
YoY Change
Total Liabilities & Shareholders Equity $2.546B $2.439B $2.439B
YoY Change -0.18% -0.18%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $129.2M $126.2M $460.6M
YoY Change 4.96% 4.72%
Depreciation, Depletion And Amortization $17.99M $17.77M $66.00M
YoY Change 22.76% 11.25%
Cash From Operating Activities $90.83M $105.8M $377.4M
YoY Change 6.2% -17.4%
INVESTING ACTIVITIES
Capital Expenditures $38.29M $53.97M $201.2M
YoY Change -205.95% 50.61%
Acquisitions $0.00 $25.30M
YoY Change 30.49%
Other Investing Activities $352.0K $115.0K $362.0K
YoY Change -146.94% 4.32%
Cash From Investing Activities -$38.64M -$53.85M -$226.8M
YoY Change 5.22% 47.96%
FINANCING ACTIVITIES
Cash Dividend Paid $39.43M $142.1M
YoY Change 11.81%
Common Stock Issuance & Retirement, Net $197.8M
YoY Change -488.14%
Debt Paid & Issued, Net $0.00 $75.00M
YoY Change 107042.86%
Cash From Financing Activities $3.319M -128.6M -$434.4M
YoY Change 347.34% 660.22%
NET CHANGE
Cash From Operating Activities $90.83M 105.8M $377.4M
Cash From Investing Activities -$38.64M -53.85M -$226.8M
Cash From Financing Activities $3.319M -128.6M -$434.4M
Net Change In Cash $56.12M -76.57M -$285.1M
YoY Change -487.8% -216.18%
FREE CASH FLOW
Cash From Operating Activities $90.83M $105.8M $377.4M
Capital Expenditures $38.29M $53.97M $201.2M
Free Cash Flow $52.54M $51.87M $176.2M
YoY Change -65.56% -45.49%

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CY2022 us-gaap Product Warranty Expense
ProductWarrantyExpense
8946000 usd
CY2021 us-gaap Product Warranty Expense
ProductWarrantyExpense
10764000 usd
CY2022 ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
3292000 usd
CY2021 ggg Product Warranty Margin Reversed
ProductWarrantyMarginReversed
3475000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12065000 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12881000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14674000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14463000 usd
CY2022 ggg Sales Returns Percentage Of Sales
SalesReturnsPercentageOfSales
0.03
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
50700000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
60600000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
60400000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
40900000 usd
CY2022 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
The Company accounts for all derivatives, including those embedded in other contracts, as either assets or liabilities and measures those financial instruments at fair value. The accounting for changes in the fair value of derivatives depends on their intended use and designation. <div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of its risk management program, the Company may periodically use forward exchange contracts to manage known market exposures. Terms of derivative instruments are structured to match the terms of the risk being managed and are generally held to maturity. The Company does not hold or issue derivative financial instruments for trading purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements of, and have been designated as, normal purchases or sales. The Company’s policy is to not enter into contracts with terms that cannot be designated as normal purchases or sales.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company periodically evaluates its monetary asset and liability positions denominated in foreign currencies. The Company enters into forward contracts or options, or borrows in various currencies, in order to hedge its net monetary positions. These instruments are recorded at fair value and the gains and losses are included in other expense, net. The notional amounts of contracts outstanding as of December 30, 2022, totaled $48 million. The Company believes it uses strong financial counterparties in these transactions and that the resulting credit risk under these hedging strategies is not significant.</span></div>The Company uses significant other observable inputs (level 2 in the fair value hierarchy) to value the derivative instruments used to hedge net monetary positions, including reference to market prices and financial models that incorporate relevant market assumptions. Net derivative assets are reported on the balance sheet in accounts receivable and net derivative liabilities are reported as other current liabilities.
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
48000000 usd
CY2022Q4 us-gaap Foreign Currency Fair Value Hedge Asset At Fair Value
ForeignCurrencyFairValueHedgeAssetAtFairValue
157000 usd
CY2021Q4 us-gaap Foreign Currency Fair Value Hedge Asset At Fair Value
ForeignCurrencyFairValueHedgeAssetAtFairValue
239000 usd
CY2022Q4 us-gaap Foreign Currency Fair Value Hedge Liability At Fair Value
ForeignCurrencyFairValueHedgeLiabilityAtFairValue
677000 usd
CY2021Q4 us-gaap Foreign Currency Fair Value Hedge Liability At Fair Value
ForeignCurrencyFairValueHedgeLiabilityAtFairValue
350000 usd
CY2022Q4 us-gaap Foreign Currency Fair Value Hedge Derivative At Fair Value Net
ForeignCurrencyFairValueHedgeDerivativeAtFairValueNet
-520000 usd
CY2021Q4 us-gaap Foreign Currency Fair Value Hedge Derivative At Fair Value Net
ForeignCurrencyFairValueHedgeDerivativeAtFairValueNet
-111000 usd
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5 segment
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
10700000 usd
CY2022 us-gaap Revenues
Revenues
2143521000 usd
CY2021 us-gaap Revenues
Revenues
1987608000 usd
CY2020 us-gaap Revenues
Revenues
1650115000 usd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2020 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
35229000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
572700000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
531323000 usd
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
391718000 usd
CY2022Q4 us-gaap Assets
Assets
2438900000 usd
CY2021Q4 us-gaap Assets
Assets
2443198000 usd
CY2022 us-gaap Revenues
Revenues
2143521000 usd
CY2021 us-gaap Revenues
Revenues
1987608000 usd
CY2020 us-gaap Revenues
Revenues
1650115000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
607609000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
451061000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
222326000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
166922000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
138957000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
117063000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
248636000 usd
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
185291000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
609919000 usd
CY2021Q4 us-gaap Inventory Gross
InventoryGross
469276000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
133129000 usd
CY2021Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
86975000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
476790000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
382301000 usd
CY2022Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
253600000 usd
CY2021Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
211100000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1066476000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
875273000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
458867000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
424212000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
607609000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
451061000 usd
CY2022 us-gaap Depreciation
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46000000 usd
CY2021 us-gaap Depreciation
Depreciation
40000000 usd
CY2020 us-gaap Depreciation
Depreciation
38000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
401405000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
370903000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
289708000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
164319000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
137562000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
84943000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
565724000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
508465000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
374651000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
70976000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
77703000 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
11509000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5948000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7493000 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3217000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
38152000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
29975000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
18722000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
115076000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
115171000 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
33448000 usd
CY2022 ggg Deferred Federal State And Local Income Tax Expense Benefit
DeferredFederalStateAndLocalIncomeTaxExpenseBenefit
-8733000 usd
CY2021 ggg Deferred Federal State And Local Income Tax Expense Benefit
DeferredFederalStateAndLocalIncomeTaxExpenseBenefit
-42413000 usd
CY2020 ggg Deferred Federal State And Local Income Tax Expense Benefit
DeferredFederalStateAndLocalIncomeTaxExpenseBenefit
12856000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1264000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-4159000 usd
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
10747000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
105079000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68599000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44195000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
112300000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
111800000 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
44000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.01
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.02
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.01
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.01
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.01
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.01
CY2022 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0.02
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.02
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.06
CY2022 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.02
CY2021 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.05
CY2020 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.03
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.19
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.13
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.12
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
678000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1181000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
1626000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
1534000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
2279000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
2285000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
3409000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
3261000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
4143000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
4028000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
42322000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
39785000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
6375000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
16022000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
5072000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
5028000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
12390000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
11442000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
2283000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
2595000 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
2160000 usd
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
2427000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
11370000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
36070000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
32969000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
2114000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
2138000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
47647000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
45125000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
57100000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
55800000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
9400000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
95974000 usd
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
193489000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
75000000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
165000000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
591000000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2020 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-7444000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
20974000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
75000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
CY2022 us-gaap Interest Paid
InterestPaid
10000000 usd
CY2021 us-gaap Interest Paid
InterestPaid
9800000 usd
CY2020 us-gaap Interest Paid
InterestPaid
11300000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-169787000 usd
CY2020 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
38178000 usd
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-124165000 usd
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
24927000 usd
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-19069000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-80169000 usd
CY2022 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
6501000 usd
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4290000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-69378000 usd
CY2021 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
24000000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2022 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
-200000 usd
CY2021 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
3100000 usd
CY2020 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2400000 usd
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12112000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.91
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8231000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
23.75
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1400000 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
55.26
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
120395000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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CY2022 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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CY2022 dei Document Period End Date
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2022-12-30
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
31000000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1705000 usd
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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22376000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
23226000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
23453000 usd
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
17400000 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y8M12D
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NetIncomeLoss
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2020 us-gaap Net Income Loss
NetIncomeLoss
330456000 usd
CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
168952000 shares
CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3941000 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
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2.73
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EarningsPerShareDiluted
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EarningsPerShareDiluted
2.52
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EarningsPerShareDiluted
1.92
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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1
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DefinedContributionPlanEmployerMatchingContributionPercent
0.03
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0.02
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11000000 usd
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DefinedContributionPlanCostRecognized
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CY2022 ggg Defined Benefit Plans Service Periodfor Determining Benefits
DefinedBenefitPlansServicePeriodforDeterminingBenefits
P5Y
CY2022 ggg Defined Benefit Plans Service Period Years Eligiblefor Benefits Calculation
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CY2022 dei Document Period End Date
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2022-12-30
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-30
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
20000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
297000000 usd
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
388000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
72190000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
91678000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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69395000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
88927000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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32164000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
30926000 usd
CY2022 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
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12000000 usd
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PensionAndOtherPostretirementBenefitExpense
5000000 usd
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2022-12-30
CY2022 us-gaap Operating Lease Expense
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12307000 usd
CY2021 us-gaap Operating Lease Expense
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11641000 usd
CY2022 us-gaap Operating Lease Payments
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11886000 usd
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11564000 usd
CY2022Q4 ggg Operating Lease Rightof Use Asset Additions
OperatingLeaseRightofUseAssetAdditions
8859000 usd
CY2021Q4 ggg Operating Lease Rightof Use Asset Additions
OperatingLeaseRightofUseAssetAdditions
1631000 usd
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P3Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y
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0.0300
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0.0224
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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9555000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7931000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5462000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4118000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2514000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2928000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
32508000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1896000 usd
CY2022Q4 us-gaap Operating Lease Liability
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30612000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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CY2022 dei Document Period End Date
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2022-12-30
CY2022Q4 us-gaap Purchase Obligation
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59000000 usd
CY2022Q4 us-gaap Contractual Obligation Due In Next Twelve Months
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4000000 usd
CY2022Q4 us-gaap Contractual Obligation Due In Second Year
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CY2022Q4 us-gaap Contractual Obligation Due In Third Year
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3000000 usd
CY2022Q4 us-gaap Contractual Obligation Due In Fourth And Fifth Year
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6000000 usd
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2022-12-30
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
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8000000 usd

Files In Submission

Name View Source Status
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