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. 01, 2022

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 1, 2022 and October 2, 2021 are as follows:


	Three Months Ended				Nine Months Ended
(in millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Net earnings	$	163.8	$	143.1	$	535.3	$	491.8
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(27.5)		(9.9)		(58.0)		(14.2)
Net change in unamortized prior service credits	—		—		—		(0.2)
Net change in unamortized actuarial gains	0.4		0.3		0.9		0.6

Net change in unrealized derivative gains	21.3		7.1		48.9		21.5
Total other comprehensive (loss) income	(5.8)		(2.5)		(8.2)		7.7
Comprehensive income	$	158.0	$	140.6	$	527.1	$	499.5

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended October 1, 2022:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)
Other comprehensive (loss) income before reclassifications (A)	(27.5)		—		0.3		—		26.3		(0.9)
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.1		—		(5.0)		(4.9)
Net other comprehensive (loss) income	(27.5)		—		0.4		—		21.3		(5.8)
Ending balance	$	(92.5)	$	(3.7)	$	(2.5)	$	0.2	$	58.8	$	(39.7)

(A) The tax effects for the three months ended October 1, 2022 were $5.4 million for foreign currency translation and $(3.6) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended October 1, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the nine months ended October 1, 2022:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(34.5)	$	(3.7)	$	(3.4)	$	0.2	$	9.9	$	(31.5)
Other comprehensive (loss) income before reclassifications (A)	(58.0)		—		0.3		—		62.7		5.0
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.6		—		(13.8)		(13.2)
Net other comprehensive (loss) income	(58.0)		—		0.9		—		48.9		(8.2)
Ending balance	$	(92.5)	$	(3.7)	$	(2.5)	$	0.2	$	58.8	$	(39.7)

(A) The tax effects for the nine months ended October 1, 2022 were $8.5 million for foreign currency translation and $(16.3) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the nine months ended October 1, 2022.

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 1, 2022 and October 2, 2021:


	Three Months Ended				Nine Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021		Affected line item in the statement where net income is presented






Amortization of defined benefit items:
Prior service credits	$	—	$	—	$	—	$	0.2	Other expense, net
Net actuarial losses	(0.4)		(0.2)		(0.9)		(0.6)		Other expense, net
	(0.4)		(0.2)		(0.9)		(0.4)		Earnings before income taxes
	0.3		—		0.3		0.1		Income tax provision
	$	(0.1)	$	(0.2)	$	(0.6)	$	(0.3)	Net earnings from continuing operations

Amount of (loss) gain reclassified into earnings on derivative contracts:
Interest-rate contracts	$	(0.1)	$	(0.2)	$	(0.2)	$	(0.5)	Interest expense
Foreign exchange contracts	7.7		(1.7)		15.7		(8.8)		Cost of sales
Commodity contracts	(0.8)		1.6		3.1		3.1		Cost of sales
	6.8		(0.3)		18.6		(6.2)		Earnings before income taxes
	(1.8)		0.1		(4.8)		1.7		Income tax provision
	$	5.0	$	(0.2)	$	13.8	$	(4.5)	Net earnings from continuing operations