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Investments | 12 Months Ended
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Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments in Marketable Securities The Company may invest a portion of its cash reserves in marketable debt securities. These investments are reported in Short-term investments in marketable securities on the Consolidated Balance Sheets. The following is a summary of the fair values, which were equal to the amortized costs, of the Company's available-for-sale securities, all due in one year or less, as of December 31, 2020 and 2019.
(in millions) | December 31, 2020 |  | December 31, 2019
Corporate Bonds | $ | 4.7 |  |  | $ | — |
Commercial Paper | 51.2 |  |  | — |
U.S. Treasury Bills | 0.8 |  |  | 0.8 |
Total available-for-sale-securities | $ | 56.7 |  |  | $ | 0.8 |
The Company had no maturities of available-for-sale securities in 2020, 2019 and 2018. Equity Investments The Company has certain unconsolidated international and domestic affiliates that are accounted for using the equity method. The equity method is applied in situations in which the Company has the ability to exercise significant influence, but not control, over the investees. Management reviews equity investments for impairment whenever indicators are present, suggesting that the carrying value of an investment is not recoverable. The following items are examples of impairment indicators: significant, sustained declines in an investee’s revenue, earnings, and cash flow trends; adverse market conditions of the investee’s industry or geographic area; the investee’s inability to execute its operating plan; the investee’s inability to continue operations measured by several items, including liquidity; and other factors. Once an impairment indicator is identified, management uses considerable judgment to determine if the decline in value is other than temporary, in which case the equity investment is written down to its estimated fair value, which could negatively impact reported results of operations. The Company has a 50 percent interest in a Japanese manufacturing company, Tohatsu Marine Corporation (TMC), which is accounted for as an equity method investment. The Company purchases engines from TMC, which are sold mostly in international markets. The Company reported a net amount payable to TMC of $44.7 million and $27.3 million at December 31, 2020 and December 31, 2019, respectively, within Accounts payable in the Consolidated Balance Sheets. Purchases from TMC were $91.0 million, $102.6 million and $117.1 million in 2020, 2019, and 2018, respectively. In the fourth quarter of 2018, the Company sold its 36 percent equity investment in Bella-Veneet Oy (Bella), a Finnish boat manufacturer, which had previously been fully impaired due to significant declines in profitability that were deemed other than temporary. As a result, the Company recorded a gain of $2.3 million within Equity earnings on the Consolidated Statements of Operations, which was equal to the proceeds from the sale. Refer to Note 10 – Financing Joint Venture for more details on the Company’s Brunswick Acceptance Company, LLC joint venture.

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