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

Quarterly report pursuant to Section 13 or 15(d)

Financing Receivables (Tables)

Financing Receivables (Tables)

9 Months Ended

Sep. 27, 2014

Financing receivables, excluding trade accounts receivable contractually due within one year, by segment

The following are the Company’s financing receivables, excluding trade accounts receivable contractually due within one year, by segment as of September 27, 2014:



(in millions)	Marine Engine		Boat			Fitness			Corporate^(A)			Total
Recourse Receivables:
Short-term	$	—	$	—		$	0.7		$	2.7		$	3.4
Long-term	—		—			0.2			0.8			1.0
Allowance for doubtful accounts	—		—			(0.3		)	(2.9		)	(3.2		)
Total	—		—			0.6			0.6			1.2

Third-Party Receivables:
Short-term	2.7		3.9			17.5			—			24.1
Long-term	—		—			18.0			—			18.0
Allowance for doubtful accounts	—		—			—			—			—
Total	2.7		3.9			35.5			—			42.1

Other Receivables:
Short-term	6.8		0.2			0.6			4.0			11.6
Long-term	0.7		0.2			0.3			1.3			2.5
Allowance for doubtful accounts	—		(0.2		)	—			—			(0.2		)
Total	7.5		0.2			0.9			5.3			13.9

Total Financing Receivables	$	10.2	$	4.1		$	37.0		$	5.9		$	57.2

(A) Total recourse receivables of $0.6 million represent amounts previously reported in the former Bowling & Billiards segment that have been retained by Corporate as a result of the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations. Other short-term receivables of $4.0 million represent a note receivable as partial consideration for the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations.

The following are the Company’s financing receivables, excluding trade accounts receivable contractually due within one year, by segment as of December 31, 2013:



(in millions)	Marine Engine		Boat			Fitness			Corporate		Total
Recourse Receivables:
Short-term	$	—	$	—		$	0.7		$	—	$	0.7
Long-term	—		—			0.2			—		0.2
Allowance for doubtful accounts	—		—			(0.4		)	—		(0.4		)
Total	—		—			0.5			—		0.5

Third-Party Receivables:
Short-term	12.0		3.1			21.1			—		36.2
Long-term	—		—			18.9			—		18.9
Allowance for doubtful accounts	—		—			—			—		—
Total	12.0		3.1			40.0			—		55.1

Other Receivables:
Short-term	10.2		0.3			0.6			0.2		11.3
Long-term	0.9		0.2			0.1			—		1.2
Allowance for doubtful accounts	—		(0.3		)	—			—		(0.3		)
Total	11.1		0.2			0.7			0.2		12.2

Total Financing Receivables	$	23.1	$	3.3		$	41.2		$	0.2	$	67.8

The following are the Company’s financing receivables, excluding trade accounts receivable contractually due within one year, by segment as of September 28, 2013:



(in millions)	Marine Engine		Boat			Fitness			Corporate		Total
Recourse Receivables:
Short-term	$	—	$	—		$	1.0		$	—	$	1.0
Long-term	—		—			0.4			—		0.4
Allowance for doubtful accounts	—		—			(0.5		)	—		(0.5		)
Total	—		—			0.9			—		0.9

Third-Party Receivables:
Short-term	9.5		1.6			22.5			—		33.6
Long-term	—		—			17.5			—		17.5
Allowance for doubtful accounts	—		—			—			—		—
Total	9.5		1.6			40.0			—		51.1

Other Receivables:
Short-term	9.2		0.3			0.8			0.2		10.5
Long-term	1.0		0.6			0.2			—		1.8
Allowance for doubtful accounts	—		(0.6		)	—			—		(0.6		)
Total	10.2		0.3			1.0			0.2		11.7

Total Financing Receivables	$	19.7	$	1.9		$	41.9		$	0.2	$	63.7

The following table sets forth activity related to the allowance for doubtful accounts on financing receivables during the nine months ended September 27, 2014:



(in millions)	Boat			Fitness			Corporate^(A)		Total
Recourse Receivables:
Beginning balance	$	—		$	0.4		$	2.9	$	3.3
Current period provision	—			—			—		—
Direct write-downs	—			(0.1		)	—		(0.1		)
Recoveries	—			—			—		—
Ending balance	$	—		$	0.3		$	2.9	$	3.2

Other Receivables:
Beginning balance	$	0.3		$	—		$	—	$	0.3
Current period provision	(0.1		)	—			—		(0.1		)
Direct write-downs	—			—			—		—
Recoveries	—			—			—		—
Ending balance	$	0.2		$	—		$	—	$	0.2

(A) The allowance for doubtful accounts related to recourse receivables represents the amount previously reported in the former Bowling & Billiards segment that has been retained by Corporate as a result of the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations.

The following table sets forth activity related to the allowance for doubtful accounts on financing receivables during the nine months ended September 28, 2013:



(in millions)	Boat			Fitness			Total
Recourse Receivables:
Beginning balance	$	—		$	0.9		$	0.9
Current period provision	—			0.2			0.2
Direct write-downs	—			(0.3		)	(0.3		)
Recoveries	—			(0.3		)	(0.3		)
Ending balance	$	—		$	0.5		$	0.5

Other Receivables:
Beginning balance	$	2.8		$	0.2		$	3.0
Current period provision	—			—			—
Direct write-downs	(2.2		)	(0.2		)	(2.4		)
Recoveries	—			—			—
Ending balance	$	0.6		$	—		$	0.6