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Goodwill and Intangibles | 9 Months Ended
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Sep. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles [Text Block] | Goodwill and Other Intangibles Effective January 1, 2020, the Company changed its management reporting and updated its reportable segments to Propulsion, Parts and Accessories (P&A) and Boat (inclusive of Business Acceleration) to align with its strategy. Refer to Note 11 – Segment Data for further information on the Company's reportable segments. As a result, the Company reallocated goodwill to its reporting units within the Propulsion and P&A segments based on each reporting unit's relative fair value. Changes in the Company's goodwill during the nine months ended September 26, 2020, by segment, are summarized below:
(in millions) | December 31, 2019 |  | Acquisitions |  |  |  | Adjustments |  | September 26, 2020
Propulsion (A) | $ | 14.5 |  |  | $ | — |  |  |  |  | $ | 0.0 |  |  | $ | 14.5 |
Parts and Accessories (A) | 371.9 |  |  | — |  |  |  |  | 0.0 |  |  | 371.9 |
Boat | 28.6 |  |  | — |  |  |  |  | 1.3 |  |  | 29.9 |
Total | $ | 415.0 |  |  | $ | — |  |  |  |  | $ | 1.3 |  |  | $ | 416.3 |
(A) In the 2019 Form 10-K, goodwill for Propulsion and Parts and Accessories were presented within the Marine Engine segment. Changes in the Company's goodwill during the nine months ended September 28, 2019, by segment, are summarized below:
(in millions) | December 31, 2018 |  | Acquisitions |  |  |  | Adjustments |  | September 28, 2019
Propulsion (A) | $ | 14.6 |  |  | $ | — |  |  |  |  | $ | (0.5) |  |  | $ | 14.1 |
Parts and Accessories (A) | 360.5 |  |  | — |  |  |  |  | 10.9 |  |  | 371.4 |
Boat | 2.2 |  |  | 26.0 |  |  |  |  | 0.3 |  |  | 28.5 |
Total | $ | 377.3 |  |  | $ | 26.0 |  |  |  |  | $ | 10.7 |  |  | $ | 414.0 |
(A) In the 2019 Form 10-K, goodwill for Propulsion and Parts and Accessories were presented within the Marine Engine segment. Adjustments in the Boat segment for the nine months ended September 26, 2020 relate to finalizing purchase accounting related to the Freedom Boat Club acquisition, primarily related to deferred taxes. Adjustments in the Parts and Accessories segment for the nine months ended September 28, 2019 mainly relate to finalizing purchase accounting related to the Power Products acquisition. See Note 5 – Acquisitions for further details on the Company's recent acquisitions. Adjustments in both periods also include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. There was no accumulated impairment loss on Goodwill as of September 26, 2020, December 31, 2019 and September 28, 2019. The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of September 26, 2020, December 31, 2019 and September 28, 2019, are summarized by intangible asset type below:
| September 26, 2020 |  | December 31, 2019 |  | September 28, 2019
(in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships (A) | $ | 687.0 |  |  | $ | (298.2) |  |  | $ | 687.0 |  |  | $ | (274.6) |  |  | $ | 686.5 |  |  | $ | (266.5) |
Trade names | 165.8 |  |  | — |  |  | 165.8 |  |  | — |  |  | 165.6 |  |  | — |
Other (A) | 18.4 |  |  | (13.4) |  |  | 18.4 |  |  | (13.1) |  |  | 18.3 |  |  | (12.9) |
Total | $ | 871.2 |  |  | $ | (311.6) |  |  | $ | 871.2 |  |  | $ | (287.7) |  |  | $ | 870.4 |  |  | $ | (279.4) |
(A) The weighted average remaining amortization period for Customer relationships and Other intangibles assets were 12.4 years and 11.2 years, respectively, as of September 26, 2020. Other intangible assets primarily consist of patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $8.0 million and $24.0 million for the three and nine months ended September 26, 2020, respectively. Aggregate amortization expense for intangibles was $8.0 million and $23.7 million for the three and nine months ended September 28, 2019, respectively. The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of September 26, 2020, December 31, 2019 and September 28, 2019, are summarized by segment below:
| September 26, 2020 |  | December 31, 2019 |  | September 28, 2019
(in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Propulsion | $ | 1.0 |  |  | $ | (0.5) |  |  | $ | 1.0 |  |  | $ | (0.5) |  |  | $ | 1.0 |  |  | $ | (0.5) |
Parts and Accessories | 617.6 |  |  | (104.5) |  |  | 617.6 |  |  | (81.9) |  |  | 616.9 |  |  | (74.1) |
Boat | 252.6 |  |  | (206.6) |  |  | 252.6 |  |  | (205.3) |  |  | 252.5 |  |  | (204.8) |
Total | $ | 871.2 |  |  | $ | (311.6) |  |  | $ | 871.2 |  |  | $ | (287.7) |  |  | $ | 870.4 |  |  | $ | (279.4) |
The Company tests its intangible assets for impairment during the fourth quarter of each year, or whenever a significant change in events and circumstances (triggering event) occurs that indicates the fair value of intangible assets may be below their carrying values. The Company determined the COVID-19 pandemic was a triggering event and, as a result, performed an interim impairment test of certain intangible assets as of March 28, 2020. The Company considered both quantitative and qualitative factors in its analysis and determined the fair values of its intangible assets were not “more-likely-than-not” lower than their carrying values. As such, the Company did not record an impairment charge during the three months ended March 28, 2020. As business performance and marine demand exceeded expectations during the third quarter of 2020, and no further triggering events were identified, the Company did not perform an additional interim impairment test.

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