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v3.25.1

Segment Data (Tables) | 3 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Operating Segments |
| Three Months Ended March 29, 2025 |  |  |  |  |  |
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Net sales (A) | $ | 413.7 |  |  | $ | 252.9 |  |  | $ | 183.5 |  |  | $ | 371.7 |  |  | $ | — |  |  | $ | 1,221.8 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (B) | 307.9 |  |  | 185.3 |  |  | 116.7 |  |  | 308.7 |  |  | — |  |  | 918.6 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expenses (C) | 59.7 |  |  | 28.5 |  |  | 69.6 |  |  | 55.3 |  |  | 33.8 |  |  | 246.9 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating earnings | $ | 46.1 |  |  | $ | 39.1 |  |  | $ | (2.8) |  |  | $ | 7.7 |  |  | $ | (33.8) |  |  | $ | 56.3 |  |  |  |  |  |  |  |  |  |  |  |  |
(A) Net sales includes $73.3 million, $2.4 million, $24.7 million and $0.4 million million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively. (B) Includes $0.7 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $208.0 million of Selling, general and administrative expense, $38.5 million of Research and development expense and $0.4 million of Restructuring, exit and impairment charges.
| Three Months Ended March 30, 2024
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total
Net sales (A) | $ | 495.8 |  |  | $ | 260.7 |  |  | $ | 182.8 |  |  | $ | 425.7 |  |  | $ | — |  |  | $ | 1,365.0 |
Cost of sales (B) | 339.9 |  |  | 197.6 |  |  | 114.4 |  |  | 343.1 |  |  | — |  |  | 995.0 |
Operating expenses (C) | 73.1 |  |  | 29.9 |  |  | 70.8 |  |  | 53.2 |  |  | 32.4 |  |  | 259.4 |
Operating earnings | $ | 82.8 |  |  | $ | 33.2 |  |  | $ | (2.4) |  |  | $ | 29.4 |  |  | $ | (32.4) |  |  | $ | 110.6 |
(A) Net sales includes $82.4 million, $1.7 million and $28.1 million of segment eliminations for the Propulsion, Engine P&A and Navico Group reportable segments, respectively. (B) Includes $3.6 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $203.7 million of Selling, general and administrative expense, $45.8 million of Research and development expense and $9.9 million of Restructuring, exit and impairment charges.
| Depreciation |  | Amortization
| Three Months Ended |  | Three Months Ended
(in millions) | March 29, 2025 |  |  | March 30, 2024 |  | March 29, 2025 |  |  | March 30, 2024
Propulsion | $ | 29.8 |  |  |  | $ | 30.8 |  |  | $ | 1.9 |  |  |  | $ | 1.6 |
Engine P&A | 4.0 |  |  |  | 3.7 |  |  | 0.2 |  |  |  | 0.2 |
Navico Group | 2.7 |  |  |  | 3.2 |  |  | 14.5 |  |  |  | 13.9 |
Boat | 13.2 |  |  |  | 12.6 |  |  | 1.5 |  |  |  | 1.4 |
Corporate/Other | 1.2 |  |  |  | 1.2 |  |  | 1.1 |  |  |  | 0.8 |
Total | $ | 50.9 |  |  |  | $ | 51.5 |  |  | $ | 19.2 |  |  |  | $ | 17.9 |
| Total Assets
(in millions) | March 29, 2025 |  | December 31, 2024 |  | March 30, 2024
Propulsion | $ | 1,512.1 |  |  | $ | 1,507.3 |  |  | $ | 1,758.8 |
Engine P&A | 922.2 |  |  | 803.5 |  |  | 927.1 |
Navico Group | 1,884.9 |  |  | 1,877.6 |  |  | 2,043.0 |
Boat | 898.3 |  |  | 868.3 |  |  | 922.0 |
Corporate/Other | 639.5 |  |  | 621.0 |  |  | 857.8 |
Total | $ | 5,857.0 |  |  | $ | 5,677.7 |  |  | $ | 6,508.7 |
| Capital Expenditures |  | Research & Development Expense
| Three Months Ended |  | Three Months Ended
(in millions) | March 29, 2025 |  |  |  | March 30, 2024 |  | March 29, 2025 |  | March 30, 2024
Propulsion | $ | 15.2 |  |  |  |  | $ | 27.3 |  |  | $ | 18.5 |  |  | $ | 23.8 |
Engine P&A | 2.2 |  |  |  |  | 3.5 |  |  | 0.4 |  |  | 0.2 |
Navico Group | 2.5 |  |  |  |  | 4.0 |  |  | 11.4 |  |  | 12.5 |
Boat | 15.9 |  |  |  |  | 17.1 |  |  | 7.2 |  |  | 6.8 |
Corporate/Other | 1.9 |  |  |  |  | 2.1 |  |  | 1.0 |  |  | 2.5 |
Total | $ | 37.7 |  |  |  |  | $ | 54.0 |  |  | $ | 38.5 |  |  | $ | 45.8 |
Geographic Segments
| Net Sales
| Three Months Ended
(in millions) | March 29, 2025 |  |  |  | March 30, 2024
United States | $ | 818.1 |  |  |  |  | $ | 917.0 |
International | 403.7 |  |  |  |  | 448.0 |
Total | $ | 1,221.8 |  |  |  |  | $ | 1,365.0 |
| Net Property
(in millions) | March 29, 2025 |  | December 31, 2024 |  | March 30, 2024
United States | $ | 1,116.7 |  |  | $ | 1,127.8 |  |  | $ | 1,180.0 |
International | 105.7 |  |  | 105.2 |  |  | 109.5 |
Corporate/Other | 17.2 |  |  | 18.5 |  |  | 19.5 |
Total | $ | 1,239.6 |  |  | $ | 1,251.5 |  |  | $ | 1,309.0 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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