Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangibles (Tables)

v3.22.4
Goodwill and Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the Company's goodwill by segment during the periods ended December 31, 2022 and 2021 are summarized below:
(in millions) Propulsion Parts & Accessories Boat Total
December 31, 2020 $ 15.3  $ 372.5  $ 29.9  $ 417.7 
Acquisitions —  442.9  29.0  471.9 
Adjustments (0.6) (0.5) (0.1) (1.2)
December 31, 2021 $ 14.7  $ 814.9  $ 58.8  $ 888.4 
Acquisitions —  —  66.6  66.6 
Adjustments (0.7) 13.7  (0.4) 12.6 
December 31, 2022 $ 14.0  $ 828.6  $ 125.0  $ 967.6 
Schedule of Other Intangible Assets
The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2022 and 2021, are summarized by intangible asset type below:
2022 2021
(in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization
Intangible assets:
  Customer relationships (A)
$ 897.4  $ (386.1) $ 889.4  $ (340.9)
  Trade names 305.4  —  306.1  — 
  Developed technology (A)
160.0  (13.3) 160.0  (2.7)
  Other (A)
67.6  (33.6) 62.0  (21.8)
     Total $ 1,430.4  $ (433.0) $ 1,417.5  $ (365.4)

(A) The weighted average remaining amortization period for Customer relationships, Developed technology and Other intangibles assets was 11.1 years, 13.8 years, and 4.9 years, respectively, as of December 31, 2022.

Other intangible assets primarily consist of software, patents and franchise agreements. Gross and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. See Note 4 – Acquisitions for further details on intangibles acquired during 2022 and 2021. Aggregate amortization expense for intangibles was $63.3 million, $36.0 million and $31.9 million for the years ended December 31, 2022, 2021 and 2020, respectively. Estimated amortization expense for intangible assets is $63.3 million for each of the years ending December 31, 2023, 2024, 2025, and 2026, and $60.7 million for the year ending December 31, 2027.