| Disaggregation of Revenue [Table Text Block] |
The following table presents the Company's revenue into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
|
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|
|
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|
|
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|
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|
|
|
|
Three Months Ended |
|
June 27, 2020 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
224.9 |
|
|
$ |
293.8 |
|
|
$ |
183.2 |
|
|
$ |
701.9 |
|
Europe |
69.8 |
|
|
41.9 |
|
|
35.3 |
|
|
147.0 |
|
Asia-Pacific |
66.5 |
|
|
24.6 |
|
|
3.2 |
|
|
94.3 |
|
Canada |
13.4 |
|
|
19.5 |
|
|
23.7 |
|
|
56.6 |
|
Rest-of-World |
20.8 |
|
|
6.7 |
|
|
4.5 |
|
|
32.0 |
|
Segment Eliminations |
(39.8 |
) |
|
(4.2 |
) |
|
— |
|
|
(44.0 |
) |
Total |
$ |
355.6 |
|
|
$ |
382.3 |
|
|
$ |
249.9 |
|
|
$ |
987.8 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
314.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
314.3 |
|
Controls, Rigging, and Propellers |
53.2 |
|
|
— |
|
|
— |
|
|
53.2 |
|
Sterndrive Engines |
27.9 |
|
|
— |
|
|
— |
|
|
27.9 |
|
Distribution Parts and Accessories |
— |
|
|
190.7 |
|
|
— |
|
|
190.7 |
|
Advanced Systems Group |
— |
|
|
86.8 |
|
|
— |
|
|
86.8 |
|
Engine Parts and Accessories |
— |
|
|
109.0 |
|
|
— |
|
|
109.0 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
94.2 |
|
|
94.2 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
89.6 |
|
|
89.6 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
59.0 |
|
|
59.0 |
|
Business Acceleration |
— |
|
|
— |
|
|
8.3 |
|
|
8.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.2 |
) |
|
(1.2 |
) |
Segment Eliminations |
(39.8 |
) |
|
(4.2 |
) |
|
— |
|
|
(44.0 |
) |
Total |
$ |
355.6 |
|
|
$ |
382.3 |
|
|
$ |
249.9 |
|
|
$ |
987.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
June 27, 2020 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
515.8 |
|
|
$ |
504.7 |
|
|
$ |
398.7 |
|
|
$ |
1,419.2 |
|
Europe |
139.4 |
|
|
84.7 |
|
|
70.4 |
|
|
294.5 |
|
Asia-Pacific |
115.8 |
|
|
49.3 |
|
|
8.8 |
|
|
173.9 |
|
Canada |
27.5 |
|
|
33.2 |
|
|
55.5 |
|
|
116.2 |
|
Rest-of-World |
45.5 |
|
|
16.2 |
|
|
8.0 |
|
|
69.7 |
|
Segment Eliminations |
(108.9 |
) |
|
(11.3 |
) |
|
— |
|
|
(120.2 |
) |
Total |
$ |
735.1 |
|
|
$ |
676.8 |
|
|
$ |
541.4 |
|
|
$ |
1,953.3 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
668.1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
668.1 |
|
Controls, Rigging, and Propellers |
110.7 |
|
|
— |
|
|
— |
|
|
110.7 |
|
Sterndrive Engines |
65.2 |
|
|
— |
|
|
— |
|
|
65.2 |
|
Distribution Parts and Accessories |
— |
|
|
312.0 |
|
|
— |
|
|
312.0 |
|
Advanced Systems Group |
— |
|
|
189.9 |
|
|
— |
|
|
189.9 |
|
Engine Parts and Accessories |
— |
|
|
186.2 |
|
|
— |
|
|
186.2 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
214.7 |
|
|
214.7 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
191.4 |
|
|
191.4 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
118.8 |
|
|
118.8 |
|
Business Acceleration |
— |
|
|
— |
|
|
18.3 |
|
|
18.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.8 |
) |
|
(1.8 |
) |
Segment Eliminations |
(108.9 |
) |
|
(11.3 |
) |
|
— |
|
|
(120.2 |
) |
Total |
$ |
735.1 |
|
|
$ |
676.8 |
|
|
$ |
541.4 |
|
|
$ |
1,953.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
June 29, 2019 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
309.9 |
|
|
$ |
300.8 |
|
|
$ |
271.2 |
|
|
$ |
881.9 |
|
Europe |
75.1 |
|
|
50.6 |
|
|
34.6 |
|
|
160.3 |
|
Asia-Pacific |
33.5 |
|
|
23.9 |
|
|
6.4 |
|
|
63.8 |
|
Canada |
16.2 |
|
|
23.3 |
|
|
47.4 |
|
|
86.9 |
|
Rest-of-World |
26.8 |
|
|
11.4 |
|
|
7.0 |
|
|
45.2 |
|
Segment Eliminations |
(67.9 |
) |
|
(6.7 |
) |
|
— |
|
|
(74.6 |
) |
Total |
$ |
393.6 |
|
|
$ |
403.3 |
|
|
$ |
366.6 |
|
|
$ |
1,163.5 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
353.9 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
353.9 |
|
Controls, Rigging, and Propellers |
57.8 |
|
|
— |
|
|
— |
|
|
57.8 |
|
Sterndrive Engines |
49.8 |
|
|
— |
|
|
— |
|
|
49.8 |
|
Distribution Parts and Accessories |
— |
|
|
174.6 |
|
|
— |
|
|
174.6 |
|
Advanced Systems Group |
— |
|
|
120.8 |
|
|
— |
|
|
120.8 |
|
Engine Parts and Accessories |
— |
|
|
114.6 |
|
|
— |
|
|
114.6 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
160.8 |
|
|
160.8 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
119.5 |
|
|
119.5 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
82.6 |
|
|
82.6 |
|
Business Acceleration |
— |
|
|
— |
|
|
4.3 |
|
|
4.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(0.6 |
) |
|
(0.6 |
) |
Segment Eliminations |
(67.9 |
) |
|
(6.7 |
) |
|
— |
|
|
(74.6 |
) |
Total |
$ |
393.6 |
|
|
$ |
403.3 |
|
|
$ |
366.6 |
|
|
$ |
1,163.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
June 29, 2019 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
619.7 |
|
|
$ |
515.2 |
|
|
$ |
545.1 |
|
|
$ |
1,680.0 |
|
Europe |
148.2 |
|
|
96.7 |
|
|
71.3 |
|
|
316.2 |
|
Asia-Pacific |
64.9 |
|
|
48.6 |
|
|
11.8 |
|
|
125.3 |
|
Canada |
31.1 |
|
|
39.7 |
|
|
97.4 |
|
|
168.2 |
|
Rest-of-World |
50.0 |
|
|
23.4 |
|
|
14.3 |
|
|
87.7 |
|
Segment Eliminations |
(146.9 |
) |
|
(16.3 |
) |
|
— |
|
|
(163.2 |
) |
Total |
$ |
767.0 |
|
|
$ |
707.3 |
|
|
$ |
739.9 |
|
|
$ |
2,214.2 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
706.2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
706.2 |
|
Controls, Rigging, and Propellers |
111.0 |
|
|
— |
|
|
— |
|
|
111.0 |
|
Sterndrive Engines |
96.7 |
|
|
— |
|
|
— |
|
|
96.7 |
|
Distribution Parts and Accessories |
— |
|
|
298.8 |
|
|
— |
|
|
298.8 |
|
Advanced Systems Group |
— |
|
|
224.8 |
|
|
— |
|
|
224.8 |
|
Engine Parts and Accessories |
— |
|
|
200.0 |
|
|
— |
|
|
200.0 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
327.0 |
|
|
327.0 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
234.5 |
|
|
234.5 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
172.8 |
|
|
172.8 |
|
Business Acceleration |
— |
|
|
— |
|
|
6.7 |
|
|
6.7 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.1 |
) |
|
(1.1 |
) |
Segment Eliminations |
(146.9 |
) |
|
(16.3 |
) |
|
— |
|
|
(163.2 |
) |
Total |
$ |
767.0 |
|
|
$ |
707.3 |
|
|
$ |
739.9 |
|
|
$ |
2,214.2 |
|
|
| Revenue from Contract with Customer [Text Block] |
Revenue Recognition
Consistent with the Company's change in reportable segments described in Note 1 – Significant Accounting Policies, the Company has made a change to its revenue disaggregation presentation to align with the new segment structure. The following table presents the Company's revenue into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
June 27, 2020 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
224.9 |
|
|
$ |
293.8 |
|
|
$ |
183.2 |
|
|
$ |
701.9 |
|
Europe |
69.8 |
|
|
41.9 |
|
|
35.3 |
|
|
147.0 |
|
Asia-Pacific |
66.5 |
|
|
24.6 |
|
|
3.2 |
|
|
94.3 |
|
Canada |
13.4 |
|
|
19.5 |
|
|
23.7 |
|
|
56.6 |
|
Rest-of-World |
20.8 |
|
|
6.7 |
|
|
4.5 |
|
|
32.0 |
|
Segment Eliminations |
(39.8 |
) |
|
(4.2 |
) |
|
— |
|
|
(44.0 |
) |
Total |
$ |
355.6 |
|
|
$ |
382.3 |
|
|
$ |
249.9 |
|
|
$ |
987.8 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
314.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
314.3 |
|
Controls, Rigging, and Propellers |
53.2 |
|
|
— |
|
|
— |
|
|
53.2 |
|
Sterndrive Engines |
27.9 |
|
|
— |
|
|
— |
|
|
27.9 |
|
Distribution Parts and Accessories |
— |
|
|
190.7 |
|
|
— |
|
|
190.7 |
|
Advanced Systems Group |
— |
|
|
86.8 |
|
|
— |
|
|
86.8 |
|
Engine Parts and Accessories |
— |
|
|
109.0 |
|
|
— |
|
|
109.0 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
94.2 |
|
|
94.2 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
89.6 |
|
|
89.6 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
59.0 |
|
|
59.0 |
|
Business Acceleration |
— |
|
|
— |
|
|
8.3 |
|
|
8.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.2 |
) |
|
(1.2 |
) |
Segment Eliminations |
(39.8 |
) |
|
(4.2 |
) |
|
— |
|
|
(44.0 |
) |
Total |
$ |
355.6 |
|
|
$ |
382.3 |
|
|
$ |
249.9 |
|
|
$ |
987.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
June 27, 2020 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
515.8 |
|
|
$ |
504.7 |
|
|
$ |
398.7 |
|
|
$ |
1,419.2 |
|
Europe |
139.4 |
|
|
84.7 |
|
|
70.4 |
|
|
294.5 |
|
Asia-Pacific |
115.8 |
|
|
49.3 |
|
|
8.8 |
|
|
173.9 |
|
Canada |
27.5 |
|
|
33.2 |
|
|
55.5 |
|
|
116.2 |
|
Rest-of-World |
45.5 |
|
|
16.2 |
|
|
8.0 |
|
|
69.7 |
|
Segment Eliminations |
(108.9 |
) |
|
(11.3 |
) |
|
— |
|
|
(120.2 |
) |
Total |
$ |
735.1 |
|
|
$ |
676.8 |
|
|
$ |
541.4 |
|
|
$ |
1,953.3 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
668.1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
668.1 |
|
Controls, Rigging, and Propellers |
110.7 |
|
|
— |
|
|
— |
|
|
110.7 |
|
Sterndrive Engines |
65.2 |
|
|
— |
|
|
— |
|
|
65.2 |
|
Distribution Parts and Accessories |
— |
|
|
312.0 |
|
|
— |
|
|
312.0 |
|
Advanced Systems Group |
— |
|
|
189.9 |
|
|
— |
|
|
189.9 |
|
Engine Parts and Accessories |
— |
|
|
186.2 |
|
|
— |
|
|
186.2 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
214.7 |
|
|
214.7 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
191.4 |
|
|
191.4 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
118.8 |
|
|
118.8 |
|
Business Acceleration |
— |
|
|
— |
|
|
18.3 |
|
|
18.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.8 |
) |
|
(1.8 |
) |
Segment Eliminations |
(108.9 |
) |
|
(11.3 |
) |
|
— |
|
|
(120.2 |
) |
Total |
$ |
735.1 |
|
|
$ |
676.8 |
|
|
$ |
541.4 |
|
|
$ |
1,953.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
June 29, 2019 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
309.9 |
|
|
$ |
300.8 |
|
|
$ |
271.2 |
|
|
$ |
881.9 |
|
Europe |
75.1 |
|
|
50.6 |
|
|
34.6 |
|
|
160.3 |
|
Asia-Pacific |
33.5 |
|
|
23.9 |
|
|
6.4 |
|
|
63.8 |
|
Canada |
16.2 |
|
|
23.3 |
|
|
47.4 |
|
|
86.9 |
|
Rest-of-World |
26.8 |
|
|
11.4 |
|
|
7.0 |
|
|
45.2 |
|
Segment Eliminations |
(67.9 |
) |
|
(6.7 |
) |
|
— |
|
|
(74.6 |
) |
Total |
$ |
393.6 |
|
|
$ |
403.3 |
|
|
$ |
366.6 |
|
|
$ |
1,163.5 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
353.9 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
353.9 |
|
Controls, Rigging, and Propellers |
57.8 |
|
|
— |
|
|
— |
|
|
57.8 |
|
Sterndrive Engines |
49.8 |
|
|
— |
|
|
— |
|
|
49.8 |
|
Distribution Parts and Accessories |
— |
|
|
174.6 |
|
|
— |
|
|
174.6 |
|
Advanced Systems Group |
— |
|
|
120.8 |
|
|
— |
|
|
120.8 |
|
Engine Parts and Accessories |
— |
|
|
114.6 |
|
|
— |
|
|
114.6 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
160.8 |
|
|
160.8 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
119.5 |
|
|
119.5 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
82.6 |
|
|
82.6 |
|
Business Acceleration |
— |
|
|
— |
|
|
4.3 |
|
|
4.3 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(0.6 |
) |
|
(0.6 |
) |
Segment Eliminations |
(67.9 |
) |
|
(6.7 |
) |
|
— |
|
|
(74.6 |
) |
Total |
$ |
393.6 |
|
|
$ |
403.3 |
|
|
$ |
366.6 |
|
|
$ |
1,163.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
June 29, 2019 |
(in millions) |
Propulsion |
|
Parts & Accessories |
|
Boat |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
619.7 |
|
|
$ |
515.2 |
|
|
$ |
545.1 |
|
|
$ |
1,680.0 |
|
Europe |
148.2 |
|
|
96.7 |
|
|
71.3 |
|
|
316.2 |
|
Asia-Pacific |
64.9 |
|
|
48.6 |
|
|
11.8 |
|
|
125.3 |
|
Canada |
31.1 |
|
|
39.7 |
|
|
97.4 |
|
|
168.2 |
|
Rest-of-World |
50.0 |
|
|
23.4 |
|
|
14.3 |
|
|
87.7 |
|
Segment Eliminations |
(146.9 |
) |
|
(16.3 |
) |
|
— |
|
|
(163.2 |
) |
Total |
$ |
767.0 |
|
|
$ |
707.3 |
|
|
$ |
739.9 |
|
|
$ |
2,214.2 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Outboard Engines |
$ |
706.2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
706.2 |
|
Controls, Rigging, and Propellers |
111.0 |
|
|
— |
|
|
— |
|
|
111.0 |
|
Sterndrive Engines |
96.7 |
|
|
— |
|
|
— |
|
|
96.7 |
|
Distribution Parts and Accessories |
— |
|
|
298.8 |
|
|
— |
|
|
298.8 |
|
Advanced Systems Group |
— |
|
|
224.8 |
|
|
— |
|
|
224.8 |
|
Engine Parts and Accessories |
— |
|
|
200.0 |
|
|
— |
|
|
200.0 |
|
Aluminum Freshwater Boats |
— |
|
|
— |
|
|
327.0 |
|
|
327.0 |
|
Recreational Fiberglass Boats |
— |
|
|
— |
|
|
234.5 |
|
|
234.5 |
|
Saltwater Fishing Boats |
— |
|
|
— |
|
|
172.8 |
|
|
172.8 |
|
Business Acceleration |
— |
|
|
— |
|
|
6.7 |
|
|
6.7 |
|
Boat Eliminations/Other |
— |
|
|
— |
|
|
(1.1 |
) |
|
(1.1 |
) |
Segment Eliminations |
(146.9 |
) |
|
(16.3 |
) |
|
— |
|
|
(163.2 |
) |
Total |
$ |
767.0 |
|
|
$ |
707.3 |
|
|
$ |
739.9 |
|
|
$ |
2,214.2 |
|
As of January 1, 2020, $96.2 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $7.7 million and $20.8 million were recognized as revenue during the three and six months ended June 27, 2020. As of June 27, 2020, total contract liabilities were $104.9 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of June 27, 2020 was $97.3 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize approximately $16.3 million of this amount in 2020, $22.5 million in 2021, and $58.5 million thereafter.
|