XML 49 R43.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Schedule of earnings before income taxes by jurisdiction | The sources of Earnings before income taxes were as follows:
(in millions) | 2013 |  | 2012 |  | 2011
United States | $ | 174.7 |  |  | $ | 134.0 |  |  | $ | 45.7 |
Foreign | 54.9 |  |  | 47.0 |  |  | 65.0 |
Earnings before income taxes | $ | 229.6 |  |  | $ | 181.0 |  |  | $ | 110.7 |
Schedule of components of income tax provision (benefit) | The Income tax provision (benefit) consisted of the following:
(in millions) | 2013 |  | 2012 |  | 2011
Current tax expense: |  |  |  |  |
U.S. Federal | $ | 33.4 |  |  | $ | 4.1 |  |  | $ | — |
State and local | 7.3 |  |  | 2.2 |  |  | 1.6 |
Foreign | 18.1 |  |  | 19.0 |  |  | 19.2 |
Total current | 58.8 |  |  | 25.3 |  |  | 20.8 |
Deferred tax expense (benefit): |  |  |  |  |
U.S. Federal | (514.4 | ) |  | 11.7 |  |  | 6.0 |
State and local | (86.7 | ) |  | (0.9 | ) |  | 0.8 |
Foreign | (3.3 | ) |  | (2.5 | ) |  | (7.5 | )
Total deferred | (604.4 | ) |  | 8.3 |  |  | (0.7 | )
Income tax provision (benefit) | $ | (545.6 | ) |  | $ | 33.6 |  |  | $ | 20.1 |
Schedule of deferred tax assets and liabilities | Temporary differences and carryforwards giving rise to deferred tax assets and liabilities at December 31, 2013 and 2012, were as follows:
(in millions) | 2013 |  | 2012
Current deferred tax assets: |  |  |
Product warranties | $ | 44.0 |  |  | $ | 48.1 |
Sales incentives and discounts | 26.7 |  |  | 26.8 |
Other | 83.6 |  |  | 81.5 |
Gross current deferred tax assets | 154.3 |  |  | 156.4 |
Valuation allowance | (11.6 | ) |  | (130.1 | )
Total net current deferred tax assets | 142.7 |  |  | 26.3 |
Current deferred tax liabilities: |  |  |
Other | (5.1 | ) |  | (7.5 | )
Total current deferred tax liabilities | (5.1 | ) |  | (7.5 | )
Total net current deferred tax assets | $ | 137.6 |  |  | $ | 18.8 |
Non-current deferred tax assets: |  |  |
Pension | $ | 107.8 |  |  | $ | 183.3 |
Loss carryforwards | 93.1 |  |  | 107.3 |
Tax credit carryforwards | 163.2 |  |  | 156.2 |
Depreciation and amortization | 53.8 |  |  | 13.8 |
Deferred compensation | 27.6 |  |  | 23.4 |
Postretirement and postemployment benefits | 24.3 |  |  | 28.8 |
Equity compensation | 19.4 |  |  | 25.7 |
Other | 31.7 |  |  | 31.4 |
Gross non-current deferred tax assets | 520.9 |  |  | 569.9 |
Valuation allowance | (76.6 | ) |  | (587.4 | )
Total net non-current deferred tax assets | 444.3 |  |  | (17.5 | )
Non-current deferred tax liabilities: |  |  |
Unremitted foreign earnings and withholding | (24.6 | ) |  | (29.9 | )
State and local income taxes | (40.0 | ) |  | (35.0 | )
Other | (2.7 | ) |  | (10.3 | )
Total non-current deferred tax liabilities | (67.3 | ) |  | (75.2 | )
Total net non-current deferred tax assets (liabilities) | $ | 377.0 |  |  | $ | (92.7 | )
Reconciliation of unrecognized tax benefits | The following is a reconciliation of the total amounts of unrecognized tax benefits excluding interest and penalties for the 2013 and 2012 annual reporting periods:
(in millions) | 2013 |  | 2012
Balance at January 1 | $ | 24.7 |  |  | $ | 24.4 |
Gross increases - tax positions prior periods | 3.8 |  |  | 3.7 |
Gross decreases - tax positions prior periods | (4.3 | ) |  | (1.4 | )
Gross increases - current period tax positions | 1.1 |  |  | 1.5 |
Decreases - settlements with taxing authorities | (8.0 | ) |  | (2.2 | )
Reductions - lapse of statute of limitations | (11.4 | ) |  | (1.1 | )
Other | 0.1 |  |  | (0.2 | )
Balance at December 31 | $ | 6.0 |  |  | $ | 24.7 |
Reconciliation of income taxes at the statutory Federal income tax rate to income tax provision (benefit) | The difference between the actual income tax provision (benefit) and the tax provision computed by applying the statutory Federal income tax rate to Earnings before income taxes is attributable to the following:
(in millions) | 2013 |  | 2012 |  | 2011
Income tax provision at 35 percent | $ | 80.4 |  |  | $ | 63.4 |  |  | $ | 38.7 |
State and local income taxes, net of Federal income tax effect | 3.5 |  |  | 0.1 |  |  | (0.1 | )
Deferred tax asset valuation allowance | (601.5 | ) |  | (31.2 | ) |  | (6.1 | )
Income attributable to domestic production activities | (4.6 | ) |  | (2.8 | ) |  | — |
Asset dispositions and write-offs | — |  |  | — |  |  | (13.1 | )
Change in estimates related to prior years and prior years amended tax return filings | 3.5 |  |  | (1.4 | ) |  | (0.4 | )
Federal and state tax credits | (14.7 | ) |  | (0.3 | ) |  | (5.9 | )
Taxes related to foreign income, net of credits | 1.9 |  |  | 4.9 |  |  | 2.0 |
Taxes related to unremitted earnings | (5.3 | ) |  | (3.4 | ) |  | 6.8 |
Tax reserve reassessment | (12.8 | ) |  | 3.8 |  |  | (5.8 | )
Other | 4.0 |  |  | 0.5 |  |  | 4.0 |
Actual income tax provision (benefit) | $ | (545.6 | ) |  | $ | 33.6 |  |  | $ | 20.1 |
Effective tax rate | NM |  |  | 18.6 | % |  | 18.2 | %
NM = Not meaningful
Income tax provision (benefit) allocated to continuing and discontinued operations | Income tax provision (benefit) allocated to continuing operations and discontinued operations for the years ended December 31 was as follows:
(in millions) | 2013 |  | 2012 |  | 2011
Continuing operations | $ | (545.6 | ) |  | $ | 33.6 |  |  | $ | 20.1 |
Discontinued operations | (2.4 | ) |  | 0.7 |  |  | (2.7 | )
Total tax provision (benefit) | $ | (548.0 | ) |  | $ | 34.3 |  |  | $ | 17.4 |

X
- Definition Income tax provision (benefit) allocated to continuing operations and discontined operations [Table Text Block] + References No definition available. + Details
Name: | bc_IncomeTaxProvisionBenefitAllocatedToContinuingAndDiscontinuedOperationsTableTableTextBlock
Namespace Prefix: | bc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration