Brunswick Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

Comprehensive Income (Tables)

9 Months Ended

Oct. 02, 2021

Changes in the Components in Accumulated Other Comprehensive Income (Loss)

Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three and nine months ended October 2, 2021 and September 26, 2020 are as follows:


	Three Months Ended				Nine Months Ended
(in millions)	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Net earnings	$	143.1	$	137.9	$	491.8	$	277.6
Other comprehensive income (loss):
Foreign currency cumulative translation adjustment	(9.9)		12.2		(14.2)		4.7

Net change in unamortized prior service credits	—		(0.1)		(0.2)		(0.4)
Net change in unamortized actuarial gains	0.3		(0.2)		0.6		0.2
Net change in unrealized derivative gains (losses)	7.1		(3.2)		21.5		(3.0)
Total other comprehensive income (loss)	(2.5)		8.7		7.7		1.5
Comprehensive income	$	140.6	$	146.6	$	499.5	$	279.1

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended October 2, 2021:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(19.4)	$	(3.7)	$	(8.6)	$	(0.8)	$	(32.5)
Other comprehensive income (loss) before reclassifications (A)	(9.9)		—		0.1		6.9		(2.9)
Amounts reclassified from Accumulated other comprehensive loss (B)	—		—		0.2		0.2		0.4
Net other comprehensive (loss) income	(9.9)		—		0.3		7.1		(2.5)
Ending balance	$	(29.3)	$	(3.7)	$	(8.3)	$	6.3	$	(35.0)

(A) The tax effects for the three months ended October 2, 2021 were $0.4 million for foreign currency translation and $(2.5) million for derivatives.

(B) See the table below for the tax effects for the three months ended October 2, 2021.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the nine months ended October 2, 2021:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(15.1)	$	(3.5)	$	(8.9)	$	(15.2)	$	(42.7)
Other comprehensive income (loss) before reclassifications (A)	(14.2)		—		0.1		17.0		2.9
Amounts reclassified from Accumulated other comprehensive loss (B)	—		(0.2)		0.5		4.5		4.8
Net other comprehensive (loss) income	(14.2)		(0.2)		0.6		21.5		7.7
Ending balance	$	(29.3)	$	(3.7)	$	(8.3)	$	6.3	$	(35.0)

(A) The tax effects for the nine months ended October 2, 2021 were $0.4 million for foreign currency translation and $(5.9) million for derivatives.

(B) See the table below for the tax effects for the nine months ended October 2, 2021.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended September 26, 2020:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(45.1)	$	(3.3)	$	(6.9)	$	(5.3)	$	(60.6)
Other comprehensive income (loss) before reclassifications (A)	12.2		0.1		(0.3)		(2.1)		9.9
Amounts reclassified from Accumulated other comprehensive loss (B)	—		(0.2)		0.1		(1.1)		(1.2)
Net other comprehensive (loss) income	12.2		(0.1)		(0.2)		(3.2)		8.7
Ending balance	$	(32.9)	$	(3.4)	$	(7.1)	$	(8.5)	$	(51.9)

(A) The tax effects for the three months ended September 26, 2020 were $(0.3) million for foreign currency translation and $0.9 million for derivatives.

(B) See the table below for the tax effects for the three months ended September 26, 2020.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the nine months ended September 26, 2020:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(37.6)	$	(3.0)	$	(7.3)	$	(5.5)	$	(53.4)
Other comprehensive income (loss) before reclassifications (A)	4.7		0.1		(0.2)		2.8		7.4
Amounts reclassified from Accumulated other comprehensive loss (B)	—		(0.5)		0.4		(5.8)		(5.9)
Net other comprehensive (loss) income	4.7		(0.4)		0.2		(3.0)		1.5
Ending balance	$	(32.9)	$	(3.4)	$	(7.1)	$	(8.5)	$	(51.9)

(A) The tax effects for the nine months ended September 26, 2020 were $0.5 million for foreign currency translation and $(0.7) million for derivatives.

(B) See the table below for the tax effects for the nine months ended September 26, 2020.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and nine months ended October 2, 2021 and September 26, 2020:


	Three Months Ended				Nine Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)	Oct 2, 2021		Sep 26, 2020		Oct 2, 2021		Sep 26, 2020		Affected line item in the statement where net income is presented






Amortization of defined benefit items:
Prior service credits	$	—	$	0.2	$	0.2	$	0.5	Other expense, net
Net actuarial losses	(0.2)		(0.1)		(0.6)		(0.4)		Other expense, net
	(0.2)		0.1		(0.4)		0.1		Earnings before income taxes
	—		—		0.1		—		Income tax provision
	$	(0.2)	$	0.1	$	(0.3)	$	0.1	Net earnings from continuing operations

Amount of gain (loss) reclassified into earnings on derivative contracts:
Interest rate contracts	$	(0.2)	$	(0.1)	$	(0.5)	$	(0.4)	Interest expense
Foreign exchange contracts	(1.7)		1.4		(8.8)		8.1		Cost of sales
Commodity contracts	1.6		—		3.1		—		Cost of sales
	(0.3)		1.3		(6.2)		7.7		Earnings before income taxes
	0.1		(0.2)		1.7		(1.9)		Income tax provision
	$	(0.2)	$	1.1	$	(4.5)	$	5.8	Net earnings from continuing operations