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Discontinued Operations | 12 Months Ended
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Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On December 5, 2017, the Board of Directors authorized the Company to exit its Sea Ray businesses, including the Meridian brand, as a result of, among other things, a change in strategic direction and a review of the expected future cash flows, market conditions and business trends. The Company considered both quantitative and qualitative factors in reaching its decision to report these businesses as discontinued operations, with key factors including: the exit is part of the Company's strategic shift to focus on outboard boat categories; represents a material portfolio shift and reduction in the boat segment revenues; and represents the exit from substantially all of its boat brands participating in the inboard/sterndrive boat category, particularly large and premium offerings. In addition, the Company has determined that exiting the Sea Ray business represents a material strategic shift, with commensurate impacts on Brunswick’s operations and financial results. The Company commenced its process to sell the Sea Ray business in December 2017 and is targeting completion of the sales process in the first half of 2018. As a result, the Company reclassified the assets and liabilities of these businesses as held for sale on the Consolidated Balance Sheets for all periods presented. Additionally, these businesses, which were previously reported in the Company's Boat segment, are being reported as discontinued operations in the Consolidated Statements of Operations for all periods presented. General allocations of corporate overhead and Boat segment shared services costs are not included in these results. In conjunction with the decision to classify the Sea Ray assets and liabilities as held for sale, the Company evaluated the disposal group's fair value, less costs to sell, and compared that to its carrying value. The fair value of the disposal group, which was determined using market data for a similar transaction (a Level 3 input) as well as a discounted cash flow analysis (a Level 3 input), was determined to be less than its carrying value. As a result, the Company recorded a charge of $36.0 million, $23.8 million after-tax, primarily related to an impairment of long-lived assets in the fourth quarter of 2017. This charge is based on estimated proceeds from the sale which may differ from actual proceeds. On July 17, 2014, the Company entered into an agreement to sell its retail bowling business to AMF Bowling Centers, Inc. In connection with its decision to sell its bowling centers, the Company also announced its intention to divest its bowling products business. As a result of these actions, these businesses were reported as discontinued operations in the Consolidated Statements of Operations for the years ended December 31, 2016 and 2015. The Company does not have any significant continuing involvement or continuing cash flows associated with these businesses. On May 22, 2015, the Company completed the sale of its bowling products business which yielded net cash proceeds of $42.2 million and an after-tax gain of $10.3 million. The following table discloses the results of operations of the businesses reported as discontinued operations for the years ended December 31, 2017, 2016 and 2015, respectively:
(in millions) | 2017 |  | 2016 |  | 2015
Net sales | $ | 387.6 |  |  | $ | 406.2 |  |  | $ | 432.9 |
Earnings (loss) from discontinued operations before income taxes | $ | (62.1 | ) |  | $ | 3.4 |  |  | $ | 1.9 |
Income tax provision (benefit) | (21.2 | ) |  | (0.0 | ) |  | 4.2 |
Earnings (loss) from discontinued operations, net of tax (B) | (40.9 | ) |  | 3.4 |  |  | (2.3 | )
Gain on disposal of discontinued operations, net of tax (A) | — |  |  | — |  |  | 12.8 |
Net earnings (loss) from discontinued operations, net of tax (B) | $ | (40.9 | ) |  | $ | 3.4 |  |  | $ | 10.5 |
(A) The Gain on disposal of discontinued operations, net of tax for 2015 includes a pre-tax and after-tax gain of $12.8 million. (B) Net earnings (loss) from discontinued operations includes a charge of $36.0 million, $23.8 million after-tax, as discussed above in 2017 and other restructuring, exit, integration and impairment charges, net of tax of $6.5 million, $0.2 million and $7.2 million in 2017, 2016 and 2015, respectively. The following table reflects the summary of assets and liabilities held for sale as of December 31, 2017 and December 31, 2016 for the Sea Ray businesses included in discontinued operations:
(in millions) | 2017 |  | 2016
Accounts and notes receivable, net | $ | 5.0 |  |  | $ | 5.8 |
Net inventory | 62.1 |  |  | 63.1 |
Prepaid expenses and other | 1.7 |  |  | 2.6 |
Current assets held for sale | 68.8 |  |  | 71.5 |
Net property (A) | 33.8 |  |  | 63.1 |
Other intangibles, net | 4.7 |  |  | 4.7 |
Other long-term assets (B) | (4.6 | ) |  | 0.4 |
Long-term assets held for sale (C) | 33.9 |  |  | 68.2 |
Assets held for sale | $ | 102.7 |  |  | $ | 139.7 |
Accounts payable | $ | 10.8 |  |  | $ | 14.5 |
Accrued expenses | 45.4 |  |  | 45.3 |
Current liabilities held for sale | 56.2 |  |  | 59.8 |
Other liabilities | 2.7 |  |  | 6.7 |
Long-term liabilities held for sale | 2.7 |  |  | 6.7 |
Liabilities held for sale | $ | 58.9 |  |  | $ | 66.5 |
(A) Net property held for sale at December 31, 2017 reflects an impairment of $31.0 million. (B) Includes a $5.0 million valuation allowance on the disposal group at December 31, 2017. (C) As of December 31, 2017 and 2016, the Company had $12.7 million and $13.2 million, respectively, of net long-term assets classified as held for sale that were not related to businesses reported as discontinued operations.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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