Annual report pursuant to Section 13 and 15(d)

Quarterly Data (unaudited) (Details)

v3.10.0.1
Quarterly Data (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 5 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 29, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jul. 01, 2017
Apr. 01, 2017
Dec. 31, 2018
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]                        
Gross margin [1],[2],[4] $ 316.4 [3] $ 344.9 [3] $ 349.7 [3] $ 310.0 [3] $ 276.6 $ 314.4 $ 369.9 $ 301.2   $ 1,321.0 [3] $ 1,262.1  
Pension Settlement Charge         96.6 [5] 0.0 [5] 0.0 [5] 0.0 [5]   0.0 96.6 [5] $ 55.1
Restructuring, Exit, Integration and Impairment Charges 24.6 [6] 17.7 [6] 34.8 [6] 3.8 [6] 53.6 [6] 6.8 [6] 5.7 [6] 15.2 [6]   80.9 [6] 81.3 [6] 15.6
Transaction Financing Charges 0.0 5.1 [3] 0.0 0.0           5.1 [3] 0.0 0.0
Net Earnings (Loss) from Continuing Operations 41.2 [1],[3],[4],[6],[7],[8],[9] 70.0 [1],[3],[4],[6],[7],[8],[9] 79.0 [1],[3],[4],[6],[7],[8],[9] 72.9 [1],[3],[4],[6],[7],[8],[9]           263.1 [1],[3],[4],[6],[7],[8],[9] 146.4 274.4
Net Earnings from Discontinued Operations, Net of Tax 2.2 0.0 0.0 0.0           2.2 0.0 1.6
Net Earnings (Loss) $ 43.4 $ 70.0 $ 79.0 $ 72.9 $ (116.9) [1],[4],[5],[6],[9] $ 79.0 [1],[4],[5],[6],[9] $ 119.4 [1],[4],[5],[6],[9] $ 64.9 [1],[4],[5],[6],[9]   $ 265.3 $ 146.4 [1],[4],[5],[6],[9] $ 276.0
Basic Earnings Per Common Share                        
Earnings from Continuing Operations (in Dollars Per Share) $ 0.47 $ 0.80 $ 0.90 $ 0.83           $ 3.00 $ 1.64 $ 3.01
Net Earnings (Loss) from Discontinued Operations (in Dollars Per Share) 0.02 0.00 0.00 0.00           0.03 0.00 0.02
Net Earnings (in Dollars per Share) 0.49 0.80 0.90 0.83 $ (1.32) $ 0.89 $ 1.33 $ 0.72   3.03 1.64 3.03
Diluted Earnings Per Common Share                        
Net Earnings (Loss) from Continuing Operations (in Dollars per Share) 0.47 0.80 0.90 0.82           2.98 1.62 2.98
Net Earnings (Loss) from Discontinued Operations (in Dollars per Share) 0.03 0.00 0.00 0.00           0.03 0.00 0.02
Net Earnings (in Dollars per Share) 0.50 0.80 0.90 0.82 (1.32) 0.88 1.32 0.71   3.01 1.62 3.00
Dividends Declared 0.21 0.19 0.19 0.19 0.19 0.165 0.165 0.165   0.78 0.685 $ 0.615
Common Stock Price [Abstract]                        
High 67.92 69.82 69.27 64.45 60.25 63.79 63.82 61.74   69.82 63.82  
Low $ 41.92 $ 61.78 $ 56.41 $ 55.35 $ 48.04 $ 48.72 $ 54.16 $ 53.95   $ 41.92 $ 48.04  
Field Campaigns Charges [Line Items]                        
Net Sales $ 1,248.9 [1] $ 1,298.0 [1] $ 1,400.9 [1] $ 1,211.4 [1] $ 1,182.1 [1] $ 1,141.5 [1] $ 1,352.0 [1] $ 1,160.3 [1]   $ 5,159.2 [1] $ 4,835.9 [1] $ 4,488.5
Operating Earnings (Loss)                   367.0 398.3 479.5
Cost of Sales                   3,838.2 3,573.8 3,256.1
Selling, General and Administrative Expense                   724.3 636.1 598.1
Field Campaigns Charge                     13.5  
Gain (Loss) on Sale of Equity Investments 2.3                 2.3    
Special Tax Items Charge (Benefit) 0.6 (10.4) (1.0) 6.7 71.1 (0.7) (0.2) (0.5)   (4.1) 69.7  
Cost of Sales [Member]                        
Field Campaigns Charges [Line Items]                        
Field Campaigns Charge                     8.4  
Selling, General and Administrative Expenses [Member]                        
Field Campaigns Charges [Line Items]                        
Field Campaigns Charge                     5.1  
Power Products [Member]                        
Field Campaigns Charges [Line Items]                        
Net Sales                 $ 82.8      
Operating Earnings (Loss)                 1.9      
Purchase Price Amortization 11.8 9.4             $ 21.2 21.2    
Power Products [Member] | Cost of Sales [Member]                        
Field Campaigns Charges [Line Items]                        
Purchase Price Amortization 4.6 4.6               9.2    
Power Products [Member] | Selling, General and Administrative Expenses [Member]                        
Field Campaigns Charges [Line Items]                        
Transaction Costs 0.8 10.5 2.5             13.8    
Purchase Price Amortization 7.2 4.8               12.0    
Fitness [Member]                        
Quarterly Financial Information Disclosure [Abstract]                        
Restructuring, Exit, Integration and Impairment Charges                   25.3 30.3 12.7
Field Campaigns Charges [Line Items]                        
Net Sales                   1,038.3 1,033.7 980.4
Operating Earnings (Loss)                   22.4 64.1 $ 117.3
Unusual Charges 6.4 3.8 1.6             11.8    
Fitness [Member] | Cost of Sales [Member]                        
Field Campaigns Charges [Line Items]                        
Field Campaigns Charge 0.7   1.6   8.4              
Settlement of Supplier Obligations 3.1                      
Fitness [Member] | Selling, General and Administrative Expenses [Member]                        
Field Campaigns Charges [Line Items]                        
Field Campaigns Charge         5.1              
Contract Dispute (0.2) 3.8                    
Charges Due to Delayed Submission of Foreign Import Duty Filings 2.8                      
Business Separation Charges 6.4 8.7 2.5 1.7           19.3    
Sport Yacht and Yacht [Member]                        
Field Campaigns Charges [Line Items]                        
Net Sales 5.4 9.0 19.9 15.1 38.3 21.3 53.1 38.9   49.4 151.6  
Operating Earnings (Loss) (11.0) (11.9) (27.4) (8.1) (10.7) (9.8) (3.4) (8.0)   (58.4) (31.9)  
Cost of Sales 10.0 17.3 43.1 18.7 44.2 26.3 52.5 41.0   89.1 164.0  
Selling, General and Administrative Expense $ 6.4 $ 3.6 $ 4.2 $ 4.5 $ 4.8 $ 4.8 $ 4.0 $ 5.9   $ 18.7 $ 19.5  
[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] (B) Gross margin is defined as Net sales less COS as presented in the Consolidated Statements of Operations.
[3] (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.
[4] (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.
[5] (I) Pension settlement charges are discussed in Note 18 – Postretirement Benefits.
[6] (E) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit, Integration and Impairment Activities.
[7] (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.
[8] (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.
[9] (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.