Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies Revenue Recognition (Details)

v3.10.0.1
Significant Accounting Policies Revenue Recognition (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 29, 2018
 [1]
Jun. 30, 2018
 [1]
Mar. 31, 2018
 [1]
Dec. 31, 2017
Sep. 30, 2017
 [1]
Jul. 01, 2017
 [1]
Apr. 01, 2017
 [1]
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                        
Accounts and Notes Receivable $ 550.7       $ 485.3       $ 550.7 $ 485.3   $ 486.5
Deferred Income Tax Asset 96.1       165.6       96.1 165.6   174.9
Accrued Expenses 687.4       609.0       687.4 609.0   648.1
Retained Earnings 2,135.7       1,966.8       2,135.7 1,966.8   1,938.2
Net Sales 1,248.9 [1] $ 1,298.0 $ 1,400.9 $ 1,211.4 1,182.1 [1] $ 1,141.5 $ 1,352.0 $ 1,160.3 5,159.2 [1] 4,835.9 [1] $ 4,488.5  
Cost of Sales                 3,838.2 3,573.8 3,256.1  
Earnings Before Income Taxes                 322.2 281.2 389.7  
Income Tax Provision                 59.1 134.8 115.3  
Net Earnings from Continuing Operations 41.2 [1],[2],[3],[4],[5],[6],[7] $ 70.0 [2],[3],[4],[5],[6],[7] $ 79.0 [2],[3],[4],[5],[6],[7] $ 72.9 [2],[3],[4],[5],[6],[7]         263.1 [1],[2],[3],[4],[5],[6],[7] 146.4 $ 274.4  
Calculated under Revenue Guidance in Effect before Topic 606 [Member]                        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                        
Accounts and Notes Receivable 549.5       485.3       549.5 485.3    
Deferred Income Tax Asset 89.3       165.6       89.3 165.6    
Accrued Expenses 658.1       609.0       658.1 609.0    
Retained Earnings 2,157.0       $ 1,966.8       2,157.0 $ 1,966.8    
Net Sales                 5,143.6      
Cost of Sales                 3,832.7      
Earnings Before Income Taxes                 312.1      
Income Tax Provision                 57.1      
Net Earnings from Continuing Operations                 255.0      
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]                        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                        
Accounts and Notes Receivable (1.2)               (1.2)     1.2
Deferred Income Tax Asset (6.8)               (6.8)     9.3
Accrued Expenses (29.3)               (29.3)     39.1
Retained Earnings $ 21.3               21.3     $ (28.6)
Net Sales                 (15.6)      
Cost of Sales                 (5.5)      
Earnings Before Income Taxes                 (10.1)      
Income Tax Provision                 (2.0)      
Net Earnings from Continuing Operations                 $ (8.1)      
[1] (A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yacht operations. During the first, second, third and fourth quarters and the full-year of 2018, Sport Yacht & Yacht operations had operating losses of $8.1 million, $27.4 million, $11.9 million, $11.0 million and $58.4 million, respectively, consisting of $15.1 million, $19.9 million, $9.0 million, $5.4 million and $49.4 million, respectively, of Net sales; $18.7 million, $43.1 million, $17.3 million, $10.0 million, $89.1 million of Cost of sales (COS); and $4.5 million, $4.2 million, $3.6 million, $6.4 million and $18.7 million, respectively, of Selling, general and administrative expense (SG&A). During the first, second, third and fourth quarters and the full-year of 2017, Sport Yacht & Yacht operations had operating losses of $8.0 million, $3.4 million, $9.8 million, $10.7 million and $31.9 million, respectively, consisting of $38.9 million, $53.1 million, $21.3 million, $38.3 million and $151.6 million, respectively, of Net sales; $41.0 million, $52.5 million, $26.3 million, $44.2 million, $164.0 million of Cost of sales (COS); and $5.9 million, $4.0 million, $4.8 million, $4.8 million and $19.5 million, respectively, of Selling, general and administrative expense (SG&A).
[2] (C) In the third quarter of 2018, the Company acquired Power Products – Global Marine & Mobile. During the second, third and fourth quarters and full-year of 2018, the Company recorded acquisition-related costs from transaction costs of $2.5 million, $10.5 million, $0.8 million and $13.8 million, respectively, within SG&A; $5.1 million of Transaction financing charges during the third quarter and full-year of 2018, respectively, and $9.4 million, $11.8 million and $21.2 million of purchase accounting amortization during the third and fourth quarters and full-year of 2018, respectively; During the third and fourth quarters and full-year of 2018, the purchase accounting amortization reflected $4.8 million, $7.2 million and $12.0 million within SG&A, respectively, and $4.6 million, $4.6 million and $9.2 million within COS, respectively. Refer to Note 5 – Acquisitions for further details.
[3] (D) During the second, third and fourth quarters and the full-year of 2018, the Company's Fitness segment recorded $1.6 million, $3.8 million, $6.4 million and $11.8 million of unusual charges. The charges in the second quarter consisted of $1.6 million within COS for a product field campaign. The charges in the third quarter consisted of $3.8 million within SG&A related to a contract dispute. The charges in the fourth quarter consisted of $3.1 million within COS related to the settlement of supplier obligations, $2.8 million within SG&A associated with the delayed submission of foreign import duty filings, $0.7 million within COS for a product field campaign and $(0.2) million within SG&A related to the contract dispute. In the fourth quarter of 2017, the Company's Fitness segment recorded $8.4 million and $5.1 million within COS and SG&A, respectively, related to field campaigns pertaining to certain Cybex products designed prior to the acquisition. Refer to Note 14 – Commitments and Contingencies for further details.
[4] (E) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit, Integration and Impairment Activities.
[5] (F) During the first, second, third and fourth quarters and the full-year of 2018, the Company recorded $1.7 million, $2.5 million, $8.7 million, $6.4 million and $19.3 million of charges within SG&A related to the planned Fitness business separation.
[6] (G) In the fourth quarter of 2018, the Company sold its non-controlling interest in a marine joint venture and recorded a gain of $2.3 million within Equity earnings.
[7] (H) Net earnings (loss) includes the tax impacts of the items discussed in the aforementioned footnotes, as well as special tax items. During the first, second, third and fourth quarters and the full-year of 2018, special tax items were a net charge (benefit) of $6.7 million, $(1.0) million, $(10.4) million, $0.6 million and $(4.1) million, respectively. During the first, second, third and fourth quarters and the full-year of 2017, special tax items were a net charge (benefit) of $(0.5) million, $(0.2) million, $(0.7) million, $71.1 million and $69.7 million, respectively.