Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.20.1
Commitments and Contingencies
 3 Months Ended
Mar. 28, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
 
Product Warranties

The following activity related to product warranty liabilities was recorded in Accrued expenses during the three months ended March 28, 2020 and March 30, 2019:
(in millions)
March 28, 2020
 
March 30, 2019
Balance at beginning of period
$
117.6

 
$
116.8

Payments - Recurring
(11.6
)
 
(12.8
)
Payments - Sport Yacht and Yachts and Fitness businesses
(1.7
)
 
(4.0
)
Provisions/additions for contracts issued/sold
13.8

 
15.1

Aggregate changes for preexisting warranties
(1.3
)
 
0.3

Foreign currency translation
(0.8
)
 
0.0

Balance at end of period
$
116.0

 
$
115.4



Extended Product Warranties

The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the three months ended March 28, 2020 and March 30, 2019:
(in millions)
March 28,
2020
 
March 30,
2019
Balance at beginning of period
$
75.3

 
$
66.4

Extended warranty contracts sold
5.7

 
5.4

Revenue recognized on existing extended warranty contracts
(3.9
)
 
(3.5
)
Foreign currency translation
(0.4
)
 
0.0

Other
(0.1
)
 
(0.1
)
Balance at end of period
$
76.6

 
$
68.2