Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.20.2
Commitments and Contingencies
 6 Months Ended
Jun. 27, 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 six months ended June 27, 2020 and June 29, 2019:
(in millions)
June 27,
2020
 
June 29,
2019
Balance at beginning of period
$
117.6

 
$
116.8

Payments - Recurring
(22.5
)
 
(27.3
)
Payments - Sport Yacht and Yachts and Fitness businesses
(2.8
)
 
(7.7
)
Provisions/additions for contracts issued/sold
25.2

 
32.1

Aggregate changes for preexisting warranties
(2.5
)
 
1.0

Foreign currency translation
(0.6
)
 
0.2

Other (A)
—

 
7.2

Balance at end of period
$
114.4

 
$
122.3



(A) The Company retained a $7.1 million warranty liability from the sale of its Fitness business. The warranty liability pertains to product field campaigns for certain Cybex products designed prior to the Cybex acquisition.

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 six months ended June 27, 2020 and June 29, 2019:
(in millions)
June 27,
2020
 
June 29,
2019
Balance at beginning of period
$
75.3

 
$
66.4

Extended warranty contracts sold
15.3

 
13.9

Revenue recognized on existing extended warranty contracts
(8.1
)
 
(7.3
)
Foreign currency translation
(0.3
)
 
0.2

Other
(0.1
)
 
(0.1
)
Balance at end of period
$
82.1

 
$
73.1