XML 72 R54.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Quarterly Data (unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly financial information |
| Quarter Ended |  |
(in millions, except per share data) | March 30, 2019 |  | June 29, 2019 |  | September 28, 2019 |  | December 31, 2019 |  | Year Ended December 31, 2019
Net sales (A) | $ | 1,050.7 |  |  | $ | 1,163.5 |  |  | $ | 976.6 |  |  | $ | 917.6 |  |  | $ | 4,108.4 |
Gross margin (B) | 279.5 |  |  | 328.0 |  |  | 276.9 |  |  | 236.6 |  |  | 1,121.0 |
Restructuring, exit and impairment charges (C) | 3.2 |  |  | 5.4 |  |  | 7.4 |  |  | 2.8 |  |  | 18.8 |
Pension settlement charge (D) | — |  |  | — |  |  | (294.1 | ) |  | 1.3 |  |  | (292.8 | )
Net earnings (loss) from continuing operations (F) | 76.2 |  |  | 112.1 |  |  | (232.9 | ) |  | 75.0 |  |  | 30.4 |
Net loss from discontinued operations, net of tax | (112.5 | ) |  | (34.6 | ) |  | (6.4 | ) |  | (7.9 | ) |  | (161.4 | )
Net (loss) earnings | (36.3 | ) |  | 77.5 |  |  | (239.3 | ) |  | 67.1 |  |  | (131.0 | )
Basic earnings (loss) per common share: |  |  |  |  |  |  |  |  |
Net earnings (loss) from continuing operations | $ | 0.87 |  |  | $ | 1.29 |  |  | $ | (2.74 | ) |  | $ | 0.92 |  |  | $ | 0.36 |
Net loss from discontinued operations | (1.29 | ) |  | (0.40 | ) |  | (0.08 | ) |  | (0.10 | ) |  | (1.90 | )
Net (loss) earnings | $ | (0.42 | ) |  | $ | 0.89 |  |  | $ | (2.82 | ) |  | $ | 0.82 |  |  | $ | (1.54 | )
Diluted earnings (loss) per common share: |  |  |  |  |  |  |  |  |
Net earnings (loss) from continuing operations | $ | 0.87 |  |  | $ | 1.28 |  |  | $ | (2.74 | ) |  | $ | 0.92 |  |  | $ | 0.36 |
Net loss from discontinued operations | (1.29 | ) |  | (0.39 | ) |  | (0.08 | ) |  | (0.10 | ) |  | (1.89 | )
Net (loss) earnings | $ | (0.42 | ) |  | $ | 0.89 |  |  | $ | (2.82 | ) |  | $ | 0.82 |  |  | $ | (1.53 | )
Dividends declared | $ | 0.21 |  |  | $ | 0.21 |  |  | $ | 0.21 |  |  | $ | 0.24 |  |  | $ | 0.87 |
Common stock price (NYSE symbol: BC): |  |  |  |  |  |  |  |  |
High | $ | 55.35 |  |  | $ | 54.76 |  |  | $ | 54.75 |  |  | $ | 62.23 |  |  | $ | 62.23 |
Low | $ | 44.89 |  |  | $ | 41.02 |  |  | $ | 42.57 |  |  | $ | 49.36 |  |  | $ | 41.02 |
| Quarter Ended |  |
(in millions, except per share data) | March 31, 2018 |  | June 30, 2018 |  | September 29, 2018 |  | December 31, 2018 |  | Year Ended December 31, 2018
Net sales (A) | $ | 967.0 |  |  | $ | 1,148.7 |  |  | $ | 1,044.1 |  |  | $ | 961.1 |  |  | $ | 4,120.9 |
Gross margin (B) | 243.1 |  |  | 281.2 |  |  | 278.3 |  |  | 244.4 |  |  | 1,047.0 |
Restructuring, exit and impairment charges (C) | 2.6 |  |  | 34.2 |  |  | 9.4 |  |  | 8.6 |  |  | 54.8 |
Transaction financing charges (E) | — |  |  | — |  |  | (5.1 | ) |  | — |  |  | (5.1 | )
Net earnings from continuing operations (F) | 63.8 |  |  | 68.1 |  |  | 75.2 |  |  | 46.3 |  |  | 253.4 |
Net earnings (loss) from discontinued operations, net of tax | 9.1 |  |  | 10.9 |  |  | (5.2 | ) |  | (2.9 | ) |  | 11.9 |
Net earnings | 72.9 |  |  | 79.0 |  |  | 70.0 |  |  | 43.4 |  |  | 265.3 |
Basic (loss) earnings per common share: |  |  |  |  |  |  |  |  |
Net earnings from continuing operations | $ | 0.72 |  |  | $ | 0.78 |  |  | $ | 0.86 |  |  | $ | 0.53 |  |  | $ | 2.89 |
Net earnings (loss) from discontinued operations | 0.11 |  |  | 0.12 |  |  | (0.06 | ) |  | (0.03 | ) |  | 0.14 |
Net earnings | $ | 0.83 |  |  | $ | 0.90 |  |  | $ | 0.80 |  |  | $ | 0.50 |  |  | $ | 3.03 |
Diluted (loss) earnings per common share: |  |  |  |  |  |  |  |  |
Net earnings from continuing operations | $ | 0.72 |  |  | $ | 0.77 |  |  | $ | 0.86 |  |  | $ | 0.53 |  |  | $ | 2.87 |
Net earnings (loss) from discontinued operations | 0.10 |  |  | 0.13 |  |  | (0.06 | ) |  | (0.04 | ) |  | 0.14 |
Net earnings | $ | 0.82 |  |  | $ | 0.90 |  |  | $ | 0.80 |  |  | $ | 0.49 |  |  | $ | 3.01 |
Dividends declared | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.21 |  |  | $ | 0.78 |
Common stock price (NYSE symbol: BC): |  |  |  |  |  |  |  |  |
High | $ | 64.45 |  |  | $ | 69.27 |  |  | $ | 69.82 |  |  | $ | 67.92 |  |  | $ | 69.82 |
Low | $ | 55.35 |  |  | $ | 54.76 |  |  | $ | 61.78 |  |  | $ | 41.92 |  |  | $ | 41.92 |
(A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yachts (SYY) operations. During the second quarter and the full-year of 2019, SYY had Net sales of $(0.7) million. During the first, second, third and fourth quarters and the full-year of 2018, SYY had Net sales of $15.1 million, $19.9 million, $9.0 million, $5.4 million and $49.4 million, respectively. (B) Gross margin is defined as Net sales less Cost of sales (COS) as presented in the Consolidated Statements of Operations. In the second and fourth quarter and the full-year of 2019, the company recorded $3.2 million, $3.9 million and $7.1 million in COS, respectively, related to SYY. During the first, second, third and fourth quarter and the full-year of 2018, the Company recorded $18.7 million, $43.1 million, $17.3 million, $10.0 million and $89.1 million in COS, respectively, related to SYY. During the third and fourth quarter and the full-year of 2018, the company recorded $4.6 million, $4.6 million and $9.2 million in COS, respectively, of purchase accounting amortization related to the purchase of Power Products. (C) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit and Impairment Activities. (D) Pension settlement charges are discussed in Note 17 – Postretirement Benefits. (E) In the third quarter and full-year of 2018, the company recorded $5.1 million of Transaction financing charges related to the acquisition of Power Products. (F) During the first, second, third and fourth quarter and full-year of 2019, Net (loss) earnings from continuing operations includes $5.7 million, $9.0 million, $6.1 million, $8.2 million and $29.0 million, respectively, related to SYY, IT transformation costs, purchase accounting amortization and acquisition-related costs, related to the purchase of Freedom Boat Club and Power Products. Net earnings (loss) from continuing operations also includes $(1.7) million, $1.8 million, $(2.5) million, $(14.8) million and $(17.2) million related to discrete tax items. During the first, second, third and fourth quarter and full-year ended 2018, Net earnings from continuing operations includes $6.4 million, $23.3 million, $25.0 million, $16.9 million and $71.6 million, respectively, related to SYY, purchase accounting amortization and acquisition-related costs. Refer to Note 5 – Acquisitions for further details. Net earnings from continuing operations also includes $6.7 million, $(1.1) million, $(10.7) million, $0.3 million and $(4.8) million related to discrete tax items. In the third and fourth quarter and full-year of 2019, the Company had a loss (gain) of extinguishment of debt, net of tax, of $0.7 million, $(0.1) million and $0.6 million, respectively. In the fourth quarter of 2018, the Company sold its non-controlling interest in a marine joint venture and recorded a gain of $1.8 million, net of tax, within Equity earnings.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration