Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles (Tables)

v3.20.1
Goodwill and Intangibles (Tables)
 3 Months Ended
Mar. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
Changes in the Company's goodwill during the three months ended March 28, 2020, by segment, are summarized below:
(in millions)
December 31,
2019
 
Adjustments
 
March 28,
2020
Propulsion (A)
$
14.5

 
$
(0.7
)
 
$
13.8

Parts and Accessories (A)
371.9

 
(0.3
)
 
371.6

Boat
28.6

 
—

 
28.6

    Total
$
415.0

 
$
(1.0
)
 
$
414.0

(A) In the 2019 Form 10-K, goodwill for Propulsion and Parts and Accessories were presented within the Marine Engine segment.

Changes in the Company's goodwill during the three months ended March 30, 2019, by segment, are summarized below:
(in millions)
December 31, 2018
 
Adjustments
 
March 30,
2019
Propulsion (A)
$
14.6

 
$
—

 
$
14.6

Parts and Accessories (A)
360.5

 
4.5

 
365.0

Boat
2.2

 
—

 
2.2

    Total
$
377.3

 
$
4.5

 
$
381.8

(A) In the 2019 Form 10-K, goodwill for Propulsion and Parts and Accessories were presented within the Marine Engine segment.

Schedule of Other Intangible Assets [Table Text Block]
The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of March 28, 2020, December 31, 2019 and March 30, 2019, are summarized by intangible asset type below:
 
March 28, 2020
 
December 31, 2019
 
March 30, 2019
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
  Customer relationships (A)
$
686.6

 
$
(282.3
)
 
$
687.0

 
$
(274.6
)
 
$
675.9

 
$
(251.2
)
  Trade names
165.5

 
—

 
165.8

 
—

 
152.6

 
—

  Other (A)
18.3

 
(13.1
)
 
18.4

 
(13.1
)
 
13.5

 
(12.7
)
    Total
$
870.4

 
$
(295.4
)
 
$
871.2

 
$
(287.7
)
 
$
842.0

 
$
(263.9
)

(A) The weighted average remaining amortization period for Customer relationships and Other intangibles assets were 13.3 years and 11.7 years, respectively, as of March 28, 2020.

Other intangible assets primarily consist of patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $8.0 million and $7.9 million for the three months ended March 28, 2020 and March 30, 2019, respectively.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of March 28, 2020, December 31, 2019 and March 30, 2019, are summarized by segment below:
 
March 28, 2020
 
December 31, 2019
 
March 30, 2019
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Propulsion
$
1.0

 
$
(0.5
)
 
$
1.0

 
$
(0.5
)
 
$
1.0

 
$
(0.5
)
Parts and Accessories
616.9

 
(89.2
)
 
617.6

 
(81.9
)
 
617.6

 
(59.2
)
Boat
252.5

 
(205.7
)
 
252.6

 
(205.3
)
 
223.4

 
(204.2
)
    Total
$
870.4

 
$
(295.4
)
 
$
871.2

 
$
(287.7
)
 
$
842.0

 
$
(263.9
)