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Quarterly Data (unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |  |
Quarterly Data (unaudited) | Quarterly Data (unaudited) The Company maintains its financial records on the basis of a fiscal year ended on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The first three quarters of fiscal year 2019 ended on March 30, 2019, June 29, 2019, and September 28, 2019, and the first three quarters of fiscal year 2018 ended on March 31, 2018, June 30, 2018, and September 29, 2018.
| 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. | [1],[2],[3]
[1] | (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.
[2] | (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.
[3] | (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

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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