Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Notes)

v3.20.2
Revenue Recognition (Notes)
 9 Months Ended
Sep. 26, 2020
Revenue from Contract with Customer [Abstract]  
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:
Three Months Ended
September 26, 2020
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 355.2  $ 336.7  $ 264.3  $ 956.2 
Europe 56.0  51.2  25.5  132.7 
Asia-Pacific 67.9  31.4  7.4  106.7 
Canada 19.7  30.2  22.9  72.8 
Rest-of-World 27.7  10.4  8.0  46.1 
Segment Eliminations (73.4) (8.0) —  (81.4)
Total $ 453.1  $ 451.9  $ 328.1  $ 1,233.1 
Major Product Lines
Outboard Engines $ 410.3  $ —  $ —  $ 410.3 
Controls, Rigging, and Propellers 76.9  —  —  76.9 
Sterndrive Engines 39.3  —  —  39.3 
Distribution Parts and Accessories —  205.0  —  205.0 
Advanced Systems Group —  113.1  —  113.1 
Engine Parts and Accessories —  141.8  —  141.8 
Aluminum Freshwater Boats —  —  124.5  124.5 
Recreational Fiberglass Boats —  —  111.0  111.0 
Saltwater Fishing Boats —  —  82.6  82.6 
Business Acceleration —  —  11.2  11.2 
Boat Eliminations/Other —  —  (1.2) (1.2)
Segment Eliminations (73.4) (8.0) —  (81.4)
Total $ 453.1  $ 451.9  $ 328.1  $ 1,233.1 
Nine Months Ended
September 26, 2020
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 871.0  $ 841.4  $ 663.0  $ 2,375.4 
Europe 195.4  135.9  95.9  427.2 
Asia-Pacific 183.7  80.7  16.2  280.6 
Canada 47.2  63.4  78.4  189.0 
Rest-of-World 73.2  26.6  16.0  115.8 
Segment Eliminations (182.3) (19.3) —  (201.6)
Total $ 1,188.2  $ 1,128.7  $ 869.5  $ 3,186.4 
Major Product Lines
Outboard Engines $ 1,078.4  $ —  $ —  $ 1,078.4 
Controls, Rigging, and Propellers 187.6  —  —  187.6 
Sterndrive Engines 104.5  —  —  104.5 
Distribution Parts and Accessories —  517.0  —  517.0 
Advanced Systems Group —  303.0  —  303.0 
Engine Parts and Accessories —  328.0  —  328.0 
Aluminum Freshwater Boats —  —  339.2  339.2 
Recreational Fiberglass Boats —  —  302.4  302.4 
Saltwater Fishing Boats —  —  201.4  201.4 
Business Acceleration —  —  29.5  29.5 
Boat Eliminations/Other —  —  (3.0) (3.0)
Segment Eliminations (182.3) (19.3) —  (201.6)
Total $ 1,188.2  $ 1,128.7  $ 869.5  $ 3,186.4 
Three Months Ended
September 28, 2019
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 273.8  $ 267.8  $ 216.9  $ 758.5 
Europe 45.0  44.2  20.8 110.0 
Asia-Pacific 35.3  26.2  9.6 71.1 
Canada 18.0  26.7  24.9 69.6 
Rest-of-World 24.8  8.1  5.2 38.1 
Segment Eliminations (63.8) (6.9) —  (70.7)
Total $ 333.1  $ 366.1  $ 277.4  $ 976.6 
Major Product Lines
Outboard Engines $ 305.3  $ —  $ —  $ 305.3 
Controls, Rigging, and Propellers 55.8  —  —  55.8 
Sterndrive Engines 35.8  —  —  35.8 
Distribution Parts and Accessories —  156.8  —  156.8 
Advanced Systems Group —  97.8  —  97.8 
Engine Parts and Accessories —  118.4  —  118.4 
Aluminum Freshwater Boats —  —  105.2  105.2 
Recreational Fiberglass Boats —  —  97.0  97.0 
Saltwater Fishing Boats —  —  66.9  66.9 
Business Acceleration —  —  8.8  8.8 
Boat Eliminations/Other —  —  (0.5) (0.5)
Segment Eliminations (63.8) (6.9) —  (70.7)
Total $ 333.1  $ 366.1  $ 277.4  $ 976.6 
Nine Months Ended
September 28, 2019
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 893.5  $ 783.0  $ 762.0  $ 2,438.5 
Europe 193.2  140.9  92.1  426.2 
Asia-Pacific 100.2  74.8  21.4  196.4 
Canada 49.1  66.4  122.3  237.8 
Rest-of-World 74.8  31.5  19.5  125.8 
Segment Eliminations (210.7) (23.2) —  (233.9)
Total $ 1,100.1  $ 1,073.4  $ 1,017.3  $ 3,190.8 
Major Product Lines
Outboard Engines $ 1,011.5  $ —  $ —  $ 1,011.5 
Controls, Rigging, and Propellers 166.8  —  —  166.8 
Sterndrive Engines 132.5  —  —  132.5 
Distribution Parts and Accessories —  455.6  —  455.6 
Advanced Systems Group —  322.6  —  322.6 
Engine Parts and Accessories —  318.4  —  318.4 
Aluminum Freshwater Boats —  —  432.2  432.2 
Recreational Fiberglass Boats —  —  331.5  331.5 
Saltwater Fishing Boats —  —  239.7  239.7 
Business Acceleration —  —  15.4  15.4 
Boat Eliminations/Other —  —  (1.5) (1.5)
Segment Eliminations (210.7) (23.2) —  (233.9)
Total $ 1,100.1  $ 1,073.4  $ 1,017.3  $ 3,190.8 
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:
Three Months Ended
September 26, 2020
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 355.2  $ 336.7  $ 264.3  $ 956.2 
Europe 56.0  51.2  25.5  132.7 
Asia-Pacific 67.9  31.4  7.4  106.7 
Canada 19.7  30.2  22.9  72.8 
Rest-of-World 27.7  10.4  8.0  46.1 
Segment Eliminations (73.4) (8.0) —  (81.4)
Total $ 453.1  $ 451.9  $ 328.1  $ 1,233.1 
Major Product Lines
Outboard Engines $ 410.3  $ —  $ —  $ 410.3 
Controls, Rigging, and Propellers 76.9  —  —  76.9 
Sterndrive Engines 39.3  —  —  39.3 
Distribution Parts and Accessories —  205.0  —  205.0 
Advanced Systems Group —  113.1  —  113.1 
Engine Parts and Accessories —  141.8  —  141.8 
Aluminum Freshwater Boats —  —  124.5  124.5 
Recreational Fiberglass Boats —  —  111.0  111.0 
Saltwater Fishing Boats —  —  82.6  82.6 
Business Acceleration —  —  11.2  11.2 
Boat Eliminations/Other —  —  (1.2) (1.2)
Segment Eliminations (73.4) (8.0) —  (81.4)
Total $ 453.1  $ 451.9  $ 328.1  $ 1,233.1 
Nine Months Ended
September 26, 2020
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 871.0  $ 841.4  $ 663.0  $ 2,375.4 
Europe 195.4  135.9  95.9  427.2 
Asia-Pacific 183.7  80.7  16.2  280.6 
Canada 47.2  63.4  78.4  189.0 
Rest-of-World 73.2  26.6  16.0  115.8 
Segment Eliminations (182.3) (19.3) —  (201.6)
Total $ 1,188.2  $ 1,128.7  $ 869.5  $ 3,186.4 
Major Product Lines
Outboard Engines $ 1,078.4  $ —  $ —  $ 1,078.4 
Controls, Rigging, and Propellers 187.6  —  —  187.6 
Sterndrive Engines 104.5  —  —  104.5 
Distribution Parts and Accessories —  517.0  —  517.0 
Advanced Systems Group —  303.0  —  303.0 
Engine Parts and Accessories —  328.0  —  328.0 
Aluminum Freshwater Boats —  —  339.2  339.2 
Recreational Fiberglass Boats —  —  302.4  302.4 
Saltwater Fishing Boats —  —  201.4  201.4 
Business Acceleration —  —  29.5  29.5 
Boat Eliminations/Other —  —  (3.0) (3.0)
Segment Eliminations (182.3) (19.3) —  (201.6)
Total $ 1,188.2  $ 1,128.7  $ 869.5  $ 3,186.4 
Three Months Ended
September 28, 2019
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 273.8  $ 267.8  $ 216.9  $ 758.5 
Europe 45.0  44.2  20.8 110.0 
Asia-Pacific 35.3  26.2  9.6 71.1 
Canada 18.0  26.7  24.9 69.6 
Rest-of-World 24.8  8.1  5.2 38.1 
Segment Eliminations (63.8) (6.9) —  (70.7)
Total $ 333.1  $ 366.1  $ 277.4  $ 976.6 
Major Product Lines
Outboard Engines $ 305.3  $ —  $ —  $ 305.3 
Controls, Rigging, and Propellers 55.8  —  —  55.8 
Sterndrive Engines 35.8  —  —  35.8 
Distribution Parts and Accessories —  156.8  —  156.8 
Advanced Systems Group —  97.8  —  97.8 
Engine Parts and Accessories —  118.4  —  118.4 
Aluminum Freshwater Boats —  —  105.2  105.2 
Recreational Fiberglass Boats —  —  97.0  97.0 
Saltwater Fishing Boats —  —  66.9  66.9 
Business Acceleration —  —  8.8  8.8 
Boat Eliminations/Other —  —  (0.5) (0.5)
Segment Eliminations (63.8) (6.9) —  (70.7)
Total $ 333.1  $ 366.1  $ 277.4  $ 976.6 
Nine Months Ended
September 28, 2019
(in millions) Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 893.5  $ 783.0  $ 762.0  $ 2,438.5 
Europe 193.2  140.9  92.1  426.2 
Asia-Pacific 100.2  74.8  21.4  196.4 
Canada 49.1  66.4  122.3  237.8 
Rest-of-World 74.8  31.5  19.5  125.8 
Segment Eliminations (210.7) (23.2) —  (233.9)
Total $ 1,100.1  $ 1,073.4  $ 1,017.3  $ 3,190.8 
Major Product Lines
Outboard Engines $ 1,011.5  $ —  $ —  $ 1,011.5 
Controls, Rigging, and Propellers 166.8  —  —  166.8 
Sterndrive Engines 132.5  —  —  132.5 
Distribution Parts and Accessories —  455.6  —  455.6 
Advanced Systems Group —  322.6  —  322.6 
Engine Parts and Accessories —  318.4  —  318.4 
Aluminum Freshwater Boats —  —  432.2  432.2 
Recreational Fiberglass Boats —  —  331.5  331.5 
Saltwater Fishing Boats —  —  239.7  239.7 
Business Acceleration —  —  15.4  15.4 
Boat Eliminations/Other —  —  (1.5) (1.5)
Segment Eliminations (210.7) (23.2) —  (233.9)
Total $ 1,100.1  $ 1,073.4  $ 1,017.3  $ 3,190.8 

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 $7.4 million and $28.2 million were recognized as revenue during the three and nine months ended September 26, 2020. As of September 26, 2020, total contract liabilities were $113.5 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of September 26, 2020 was $106.5 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize approximately $10.8 million of this amount in 2020, $28.6 million in 2021, and $67.1 million thereafter.