Annual report pursuant to Section 13 and 15(d)

Quarterly Data (unaudited) (Details)

v3.19.3.a.u2
Quarterly Data (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 28, 2019
Jun. 29, 2019
Mar. 30, 2019
Dec. 31, 2018
Sep. 29, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Basic Earnings Per Common Share                      
Earnings from Continuing Operations (in Dollars Per Share) $ 0.92 $ (2.74) $ 1.29 $ 0.87 $ 0.53 $ 0.86 $ 0.78 $ 0.72 $ 0.36 $ 2.89 $ 1.13
Net Earnings (Loss) from Discontinued Operations (in Dollars Per Share) (0.10) (0.08) (0.40) (1.29) (0.03) (0.06) 0.12 0.11 (1.90) 0.14 0.51
Net Earnings (in Dollars per Share) 0.82 (2.82) 0.89 (0.42) 0.50 0.80 0.90 0.83 (1.54) 3.03 1.64
Diluted Earnings Per Common Share                      
Net Earnings (Loss) from Continuing Operations (in Dollars per Share) 0.92 (2.74) 1.28 0.87 0.53 0.86 0.77 0.72 0.36 2.87 1.12
Net Earnings (Loss) from Discontinued Operations (in Dollars per Share) (0.10) (0.08) (0.39) (1.29) (0.04) (0.06) 0.13 0.10 (1.89) 0.14 0.50
Net Earnings (in Dollars per Share) 0.82 (2.82) 0.89 (0.42) 0.49 0.80 0.90 0.82 (1.53) 3.01 1.62
Dividends Declared 0.24 0.21 0.21 0.21 0.21 0.19 0.19 0.19 0.87 0.78 $ 0.685
Common Stock Price [Abstract]                      
High 62.23 54.75 54.76 55.35 67.92 69.82 69.27 64.45 62.23 69.82  
Low $ 49.36 $ 42.57 $ 41.02 $ 44.89 $ 41.92 $ 61.78 $ 54.76 $ 55.35 $ 41.02 $ 41.92  
Field Campaigns Charges [Line Items]                      
Net Sales $ 917.6 $ 976.6 $ 1,163.5 [1] $ 1,050.7 $ 961.1 [1] $ 1,044.1 [1] $ 1,148.7 [1] $ 967.0 [1] $ 4,108.4 [1] $ 4,120.9 [1] $ 3,802.2
Gross margin 236.6 [2] 276.9 328.0 [2] 279.5 244.4 [2] 278.3 [2] 281.2 [2] 243.1 [2] 1,121.0 [2] 1,047.0 [2]  
Restructuring, Exit and Impairment Charges 2.8 [3] 7.4 [3] 5.4 [3] 3.2 [3] 8.6 [3] 9.4 [3] 34.2 [3] 2.6 [3] 18.8 [3] 54.8 [3] 48.6
Pension Settlement Charge (1.3) [4] 294.1 [4] 0.0 0.0         (292.8) [4] 0.0 (96.6)
Net Earnings from Continuing Operations 75.0 [5] (232.9) [5] 112.1 [5] 76.2 [5] 46.3 [5] 75.2 [5] 68.1 [5] 63.8 [5] 30.4 [5] 253.4 [5] 101.3
Net (Loss) Earnings from Discontinued Operations, Net of Tax (7.9) (6.4) (34.6) (112.5) (2.9) (5.2) 10.9 9.1 (161.4) 11.9 45.1
Net Earnings (Loss) 67.1 (239.3) 77.5 (36.3) 43.4 70.0 79.0 72.9 (131.0) 265.3 146.4
Cost of Sales                 2,987.4 3,073.9 $ 2,853.6
Gain (Loss) on Sale of Equity Investments         1.8         2.3  
Special Tax Items Charge (Benefit) (14.8) (2.5) 1.8 (1.7) 0.3 (10.7) (1.1) 6.7 (17.2) (4.8)  
Adjusted [Member]                      
Field Campaigns Charges [Line Items]                      
Net Earnings from Continuing Operations 8.2 6.1 9.0 $ 5.7 16.9 25.0 23.3 6.4 29.0 71.6  
Sport Yacht and Yacht [Member]                      
Field Campaigns Charges [Line Items]                      
Net Sales     (0.7)   5.4 9.0 19.9 15.1 (0.7) 49.4  
Cost of Sales 3.9   $ 3.2   10.0 17.3 43.1 18.7 7.1 89.1  
Power Products [Member] | Cost of Sales [Member] | Power Products [Member]                      
Field Campaigns Charges [Line Items]                      
Transaction Costs         (4.6) (4.6)       (9.2)  
Power Products [Member] | Selling, General and Administrative Expenses [Member]                      
Field Campaigns Charges [Line Items]                      
Transaction Costs         $ 0.0 [6] $ (5.1) $ 0.0 $ 0.0   $ (5.1) [6]  
Senior Notes Due 2021 [Member]                      
Field Campaigns Charges [Line Items]                      
Extinguishment of Debt, Gain (Loss), Net of Tax $ (0.1) $ 0.7             $ 0.6    
[1] (A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yachts (SYY) operations. During the second quarter and the full-year of 2019, SYY had Net sales of $(0.7) million. During the first, second, third and fourth quarters and the full-year of 2018, SYY had Net sales of $15.1 million, $19.9 million, $9.0 million, $5.4 million and $49.4 million, respectively
[2]
(B) Gross margin is defined as Net sales less Cost of sales (COS) as presented in the Consolidated Statements of Operations. In the second and fourth quarter and the full-year of 2019, the company recorded $3.2 million, $3.9 million and $7.1 million in COS, respectively, related to SYY. During the first, second, third and fourth quarter and the full-year of 2018, the Company recorded $18.7 million, $43.1 million, $17.3 million, $10.0 million and $89.1 million in COS, respectively, related to SYY. During the third and fourth quarter and the full-year of 2018, the company recorded $4.6 million, $4.6 million and $9.2 million in COS, respectively, of purchase accounting amortization related to the purchase of Power Products.
[3]
(C) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit and Impairment Activities.
[4]
(D) Pension settlement charges are discussed in Note 17 – Postretirement Benefits.
[5]
(F) During the first, second, third and fourth quarter and full-year of 2019, Net (loss) earnings from continuing operations includes $5.7 million, $9.0 million, $6.1 million, $8.2 million and $29.0 million, respectively, related to SYY, IT transformation costs, purchase accounting amortization and acquisition-related costs, related to the purchase of Freedom Boat Club and Power Products. Net earnings (loss) from continuing operations also includes $(1.7) million, $1.8 million, $(2.5) million, $(14.8) million and $(17.2) million related to discrete tax items. During the first, second, third and fourth quarter and full-year ended 2018, Net earnings from continuing operations includes $6.4 million, $23.3 million, $25.0 million, $16.9 million and $71.6 million, respectively, related to SYY, purchase accounting amortization and acquisition-related costs. Refer to Note 5 – Acquisitions for further details. Net earnings from continuing operations also includes $6.7 million, $(1.1) million, $(10.7) million, $0.3 million and $(4.8) million related to discrete tax items. In the third and fourth quarter and full-year of 2019, the Company had a loss (gain) of extinguishment of debt, net of tax, of $0.7 million, $(0.1) million and $0.6 million, respectively. In the fourth quarter of 2018, the Company sold its non-controlling interest in a marine joint venture and recorded a gain of $1.8 million, net of tax, within Equity earnings.
[6]
(E) In the third quarter and full-year of 2018, the company recorded $5.1 million of Transaction financing charges related to the acquisition of Power Products.