Revenue Recognition 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 |
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April 3, 2021 |
(in millions) |
Propulsion |
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Parts & Accessories |
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Boat |
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Total |
Geographic Markets |
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United States |
$ |
421.3 |
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$ |
312.3 |
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$ |
312.6 |
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$ |
1,046.2
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Europe |
109.0 |
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63.5 |
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41.6 |
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214.1
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Asia-Pacific |
65.7 |
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42.5 |
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6.7 |
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114.9
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Canada |
25.2 |
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25.4 |
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48.4 |
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99.0
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Rest-of-World |
36.6 |
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15.9 |
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10.2 |
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62.7
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Segment Eliminations |
(94.9) |
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(8.8) |
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— |
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(103.7) |
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Total |
$ |
562.9 |
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$ |
450.8 |
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$ |
419.5 |
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$ |
1,433.2
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Three Months Ended |
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March 28, 2020 |
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Propulsion |
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Parts & Accessories |
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Boat |
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Total |
Geographic Markets |
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United States |
$ |
290.9 |
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$ |
210.9 |
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$ |
215.5 |
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$ |
717.3
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Europe |
69.6 |
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42.8 |
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35.1 |
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147.5
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Asia-Pacific |
49.3 |
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24.7 |
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5.6 |
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79.6
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Canada |
14.1 |
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13.7 |
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31.8 |
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59.6
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Rest-of-World |
24.7 |
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9.5 |
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3.5 |
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37.7
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Segment Eliminations |
(69.1) |
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(7.1) |
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— |
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(76.2) |
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Total |
$ |
379.5 |
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$ |
294.5 |
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$ |
291.5 |
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$ |
965.5
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Three Months Ended |
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April 3, 2021 |
(in millions) |
Propulsion |
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Parts & Accessories |
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Boat |
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Total |
Major Product Lines |
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Outboard Engines |
$ |
504.5 |
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$ |
— |
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$ |
— |
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$ |
504.5
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Controls, Rigging, and Propellers |
94.9 |
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— |
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— |
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94.9
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Sterndrive Engines |
58.4 |
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— |
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— |
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58.4
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Distribution Parts and Accessories |
— |
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200.6 |
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— |
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200.6
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Advanced Systems Group |
— |
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134.8 |
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— |
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134.8
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Engine Parts and Accessories |
— |
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124.2 |
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— |
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124.2
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Aluminum Freshwater Boats |
— |
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— |
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177.8 |
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177.8
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Recreational Fiberglass Boats |
— |
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— |
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135.4 |
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135.4
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Saltwater Fishing Boats |
— |
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— |
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96.8 |
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96.8
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Business Acceleration |
— |
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— |
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12.7 |
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12.7
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Boat Eliminations/Other |
— |
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— |
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(3.2) |
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(3.2) |
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Segment Eliminations |
(94.9) |
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(8.8) |
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— |
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(103.7) |
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Total |
$ |
562.9 |
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$ |
450.8 |
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$ |
419.5 |
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$ |
1,433.2
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Three Months Ended |
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March 28, 2020 |
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Propulsion |
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Parts & Accessories |
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Boat |
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Total |
Major Product Lines |
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Outboard Engines |
$ |
353.8 |
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$ |
— |
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$ |
— |
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$ |
353.8
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Controls, Rigging, and Propellers |
57.5 |
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— |
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— |
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57.5
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Sterndrive Engines |
37.3 |
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— |
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— |
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37.3
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Distribution Parts and Accessories |
— |
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121.3 |
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— |
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121.3
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Advanced Systems Group |
— |
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103.1 |
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— |
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103.1
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Engine Parts and Accessories |
— |
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77.2 |
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— |
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77.2
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Aluminum Freshwater Boats |
— |
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— |
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120.5 |
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120.5
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Recreational Fiberglass Boats |
— |
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— |
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101.8 |
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101.8
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Saltwater Fishing Boats |
— |
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— |
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59.8 |
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59.8
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Business Acceleration |
— |
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— |
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10.0 |
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10.0
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Boat Eliminations/Other |
— |
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— |
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(0.6) |
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(0.6) |
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Segment Eliminations |
(69.1) |
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(7.1) |
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— |
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(76.2) |
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Total |
$ |
379.5 |
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$ |
294.5 |
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$ |
291.5 |
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$ |
965.5
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As of December 31, 2020, $113.0 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $11.6 million was recognized as revenue during the three months ended April 3, 2021. As of April 3, 2021, total contract liabilities were $121.0 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of April 3, 2021 was $112.3 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize $24.9 million of this amount in 2021, $25.9 million in 2022, and $61.5 million thereafter.
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