Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Notes)

v3.22.2
Revenue Recognition (Notes)
 6 Months Ended
Jul. 02, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue Recognition
The following table presents the Company's revenue in categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
Three Months Ended
July 2, 2022 July 3, 2021
(in millions) Propulsion Parts & Accessories Boat Total Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 483.6  $ 444.3  $ 423.1  $ 1,351.0  $ 404.4  $ 391.7  $ 314.1  $ 1,110.2 
Europe 118.4  99.6  56.0  274.0  119.7  69.9  52.5  242.1 
Asia-Pacific 59.5  52.2  7.5  119.2  66.6  39.9  7.3  113.8 
Canada 24.5  39.1  70.4  134.0  24.1  34.2  66.8  125.1 
Rest-of-World 48.2  16.3  11.4  75.9  34.7  13.2  8.4  56.3 
Segment Eliminations (102.3) (16.0) (0.2) (118.5) (85.6) (7.1) —  (92.7)
Total $ 631.9  $ 635.5  $ 568.2  $ 1,835.6  $ 563.9  $ 541.8  $ 449.1  $ 1,554.8 
Six Months Ended
July 2, 2022 July 3, 2021
(in millions) Propulsion Parts & Accessories Boat Total Propulsion Parts & Accessories Boat Total
Geographic Markets
United States $ 936.3  $ 851.8  $ 791.5  $ 2,579.6  $ 825.7  $ 704.0  $ 626.7  $ 2,156.4 
Europe 231.8  207.6  101.6  541.0  228.7  133.4  94.1  456.2 
Asia-Pacific 122.8  105.1  16.6  244.5  132.3  82.4  14.0  228.7 
Canada 57.7  69.6  132.6  259.9  49.3  59.6  115.2  224.1 
Rest-of-World 91.5  35.2  18.9  145.6  71.3  29.1  18.6  119.0 
Segment Eliminations (211.5) (27.6) (0.2) (239.3) (180.5) (15.9) —  (196.4)
Total $ 1,228.6  $ 1,241.7  $ 1,061.0  $ 3,531.3  $ 1,126.8  $ 992.6  $ 868.6  $ 2,988.0 
Three Months Ended
July 2, 2022 July 3, 2021
(in millions) Propulsion Parts & Accessories Boat Total Propulsion Parts & Accessories Boat Total
Major Product Lines
Outboard Engines $ 565.8  $ —  $ —  $ 565.8  $ 494.2  $ —  $ —  $ 494.2 
Controls, Rigging, and Propellers 106.4  —  —  106.4  96.1  —  —  96.1 
Sterndrive Engines 62.0  —  —  62.0  59.2  —  —  59.2 
Distribution Parts and Accessories —  231.4  —  231.4  —  255.2  —  255.2 
Engine Parts and Accessories —  146.7  —  146.7  —  155.4  —  155.4 
Advanced Systems Group —  159.2  —  159.2  —  138.3  —  138.3 
Navico —  114.2  —  114.2  —  —  —  — 
Aluminum Freshwater Boats —  —  237.4  237.4  —  —  190.1  190.1 
Recreational Fiberglass Boats —  —  187.4  187.4  —  —  154.2  154.2 
Saltwater Fishing Boats —  —  110.3  110.3  —  —  93.0  93.0 
Business Acceleration —  —  35.8  35.8  —  —  15.3  15.3 
Boat Eliminations/Other —  —  (2.5) (2.5) —  —  (3.5) (3.5)
Segment Eliminations (102.3) (16.0) (0.2) (118.5) (85.6) (7.1) —  (92.7)
Total $ 631.9  $ 635.5  $ 568.2  $ 1,835.6  $ 563.9  $ 541.8  $ 449.1  $ 1,554.8 
Six Months Ended
July 2, 2022 July 3, 2021
(in millions) Propulsion Parts & Accessories Boat Total Propulsion Parts & Accessories Boat Total
Major Product Lines
Outboard Engines $ 1,111.9  $ —  $ —  $ 1,111.9  $ 998.7  $ —  $ —  $ 998.7 
Controls, Rigging, and Propellers 204.9  —  —  204.9  191.0  —  —  191.0 
Sterndrive Engines 123.3  —  —  123.3  117.6  —  —  117.6 
Distribution Parts and Accessories —  434.9  —  434.9  —  455.8  —  455.8 
Engine Parts and Accessories —  272.3  —  272.3  —  279.6  —  279.6 
Advanced Systems Group —  311.1  —  311.1  —  273.1  —  273.1 
Navico —  251.0  —  251.0  —  —  —  — 
Aluminum Freshwater Boats —  —  458.0  458.0  —  —  367.9  367.9 
Recreational Fiberglass Boats —  —  351.8  351.8  —  —  289.6  289.6 
Saltwater Fishing Boats —  —  199.5  199.5  —  —  189.8  189.8 
Business Acceleration —  —  55.4  55.4  —  —  28.0  28.0 
Boat Eliminations/Other —  —  (3.5) (3.5) —  —  (6.7) (6.7)
Segment Eliminations (211.5) (27.6) (0.2) (239.3) (180.5) (15.9) —  (196.4)
Total $ 1,228.6  $ 1,241.7  $ 1,061.0  $ 3,531.3  $ 1,126.8  $ 992.6  $ 868.6  $ 2,988.0 

As of December 31, 2021, $142.1 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $10.5 million and $24.8 million were recognized as revenue during the three and six months ended July 2, 2022, respectively. As of July 2, 2022, total contract liabilities were $181.2 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of July 2, 2022 was $168.9 million for contracts greater than one year, which
primarily relates to extended warranties. The Company expects to recognize $29.2 million of this amount in the second half of 2022, $50.2 million in 2023, and $89.5 million thereafter.