XML 36 R24.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Data (Tables) | 6 Months Ended
--- | ---
Jun. 28, 2025
Segment Reporting [Abstract] |
Operating Segments |
| Three Months Ended June 28, 2025 |  |  |  |  |  |
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Net sales (A) | $ | 525.0 |  |  | $ | 335.9 |  |  | $ | 180.7 |  |  | $ | 405.4 |  |  | $ | — |  |  | $ | 1,447.0 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (B) | 391.6 |  |  | 233.0 |  |  | 116.5 |  |  | 338.3 |  |  | — |  |  | 1,079.4 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expenses (C) | 67.6 |  |  | 31.2 |  |  | 71.8 |  |  | 56.0 |  |  | 37.7 |  |  | 264.3 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating earnings | $ | 65.8 |  |  | $ | 71.7 |  |  | $ | (7.6) |  |  | $ | 11.1 |  |  | $ | (37.7) |  |  | $ | 103.3 |  |  |  |  |  |  |  |  |  |  |  |  |
(A) Net sales includes $73.2 million, $1.9 million, $21.6 million and $0.2 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively. (B) Includes $2.1 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $216.6 million of Selling, general and administrative expense, $41.8 million of Research and development expense and $5.9 million of Restructuring, exit and impairment charges.
| Three Months Ended June 29, 2024
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total
Net sales (A) | $ | 486.5 |  |  | $ | 334.1 |  |  | $ | 189.1 |  |  | $ | 434.2 |  |  | $ | — |  |  | $ | 1,443.9 |
Cost of sales (B) | 341.6 |  |  | 232.5 |  |  | 125.7 |  |  | 359.4 |  |  | — |  |  | 1,059.2 |
Operating expenses (C) | 59.3 |  |  | 26.0 |  |  | 66.4 |  |  | 50.0 |  |  | 24.7 |  |  | 226.4 |
Operating earnings | $ | 85.6 |  |  | $ | 75.6 |  |  | $ | (3.0) |  |  | $ | 24.8 |  |  | $ | (24.7) |  |  | $ | 158.3 |
(A) Net sales includes $71.5 million, $2.0 million and $21.0 million of segment eliminations for the Propulsion, Engine P&A and Navico Group reportable segments, respectively. (B) Includes $6.3 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $181.8 million of Selling, general and administrative expense, $43.0 million of Research and development expense and $1.6 million of Restructuring, exit and impairment charges.
| Six Months Ended June 28, 2025
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total
Net sales (A) | $ | 938.7 |  |  | $ | 588.8 |  |  | $ | 364.2 |  |  | $ | 777.1 |  |  | $ | — |  |  | $ | 2,668.8 |
Cost of sales (B) | 699.5 |  |  | 418.3 |  |  | 233.2 |  |  | 647.0 |  |  | — |  |  | 1,998.0 |
Operating expenses (C) | 127.3 |  |  | 59.7 |  |  | 141.4 |  |  | 111.3 |  |  | 71.5 |  |  | 511.2 |
Operating earnings | $ | 111.9 |  |  | $ | 110.8 |  |  | $ | (10.4) |  |  | $ | 18.8 |  |  | $ | (71.5) |  |  | $ | 159.6 |
(A) Net sales includes $146.5 million, $4.3 million, $46.3 million and $0.6 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively. (B) Includes $2.8 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $424.6 million of Selling, general and administrative expense, $80.3 million of Research and development expense and $6.3 million of Restructuring, exit and impairment charges.
| Six Months Ended June 29, 2024
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total
Net sales (A) | $ | 982.3 |  |  | $ | 594.8 |  |  | $ | 371.9 |  |  | $ | 859.9 |  |  | $ | — |  |  | $ | 2,808.9 |
Cost of sales (B) | 681.5 |  |  | 430.1 |  |  | 240.1 |  |  | 702.5 |  |  | — |  |  | 2,054.2 |
Operating expenses (C) | 132.4 |  |  | 55.9 |  |  | 137.2 |  |  | 103.2 |  |  | 57.1 |  |  | 485.8 |
Operating earnings | $ | 168.4 |  |  | $ | 108.8 |  |  | $ | (5.4) |  |  | $ | 54.2 |  |  | $ | (57.1) |  |  | $ | 268.9 |
(A) Net sales includes $153.9 million, $3.7 million and $49.1 million of segment eliminations for the Propulsion, Engine P&A and Navico Group reportable segments, respectively. (B) Includes $9.9 million of Cost of sales related Restructuring, exit and impairment charges. (C) Includes $385.5 million of Selling, general and administrative expense, $88.8 million of Research and development expense and $11.5 million of Restructuring, exit and impairment charges.
| Depreciation
| Three Months Ended |  | Six Months Ended
(in millions) | June 28, 2025 |  |  | June 29, 2024 |  | June 28, 2025 |  |  | June 29, 2024
Propulsion | $ | 30.8 |  |  |  | $ | 31.6 |  |  | $ | 60.6 |  |  |  | $ | 62.4 |
Engine P&A | 4.1 |  |  |  | 3.8 |  |  | 8.1 |  |  |  | 7.5 |
Navico Group | 3.2 |  |  |  | 2.9 |  |  | 5.9 |  |  |  | 6.1 |
Boat | 13.7 |  |  |  | 12.9 |  |  | 26.9 |  |  |  | 25.5 |
Corporate/Other | 1.2 |  |  |  | 1.3 |  |  | 2.4 |  |  |  | 2.5 |
Total | $ | 53.0 |  |  |  | $ | 52.5 |  |  | $ | 103.9 |  |  |  | $ | 104.0 |
| Amortization
| Three Months Ended |  | Six Months Ended
(in millions) | June 28, 2025 |  |  | June 29, 2024 |  | June 28, 2025 |  |  | June 29, 2024
Propulsion | $ | 2.1 |  |  |  | $ | 1.5 |  |  | $ | 4.0 |  |  |  | $ | 3.1 |
Engine P&A | 0.3 |  |  |  | 0.2 |  |  | 0.5 |  |  |  | 0.4 |
Navico Group | 15.1 |  |  |  | 14.0 |  |  | 29.6 |  |  |  | 27.9 |
Boat | 1.5 |  |  |  | 1.4 |  |  | 3.0 |  |  |  | 2.8 |
Corporate/Other | 1.1 |  |  |  | 0.8 |  |  | 2.2 |  |  |  | 1.6 |
Total | $ | 20.1 |  |  |  | $ | 17.9 |  |  | $ | 39.3 |  |  |  | $ | 35.8 |
| Total Assets
(in millions) | June 28, 2025 |  | December 31, 2024 |  | June 29, 2024
Propulsion | $ | 1,469.7 |  |  | $ | 1,507.3 |  |  | $ | 1,742.4 |
Engine P&A | 886.7 |  |  | 803.5 |  |  | 869.9 |
Navico Group | 1,875.6 |  |  | 1,877.6 |  |  | 1,995.0 |
Boat | 902.1 |  |  | 868.3 |  |  | 891.8 |
Corporate/Other | 660.2 |  |  | 621.0 |  |  | 896.6 |
Total | $ | 5,794.3 |  |  | $ | 5,677.7 |  |  | $ | 6,395.7 |
| Capital Expenditures |
| Three Months Ended |  | Six Months Ended |
(in millions) | June 28, 2025 |  |  |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024 |
Propulsion | $ | 21.4 |  |  |  |  | $ | 23.8 |  |  | $ | 36.6 |  |  | $ | 51.1 |  |
Engine P&A | 4.0 |  |  |  |  | 2.3 |  |  | 6.2 |  |  | 5.8 |  |
Navico Group | 4.9 |  |  |  |  | 5.6 |  |  | 7.4 |  |  | 9.6 |  |
Boat | 13.4 |  |  |  |  | 12.7 |  |  | 29.3 |  |  | 29.8 |  |
Corporate/Other | 1.2 |  |  |  |  | 2.7 |  |  | 3.1 |  |  | 4.8 |  |
Total | $ | 44.9 |  |  |  |  | $ | 47.1 |  |  | $ | 82.6 |  |  | $ | 101.1 |  |
| Research & Development Expense |  |
| Three Months Ended |  | Six Months Ended |  |
(in millions) | June 28, 2025 |  |  |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024 |  |
Propulsion | $ | 21.4 |  |  |  |  | $ | 21.4 |  |  | $ | 39.9 |  |  | $ | 45.2 |  |  |
Engine P&A | 0.3 |  |  |  |  | 0.5 |  |  | 0.7 |  |  | 0.7 |  |  |
Navico Group | 11.6 |  |  |  |  | 12.8 |  |  | 23.0 |  |  | 25.3 |  |  |
Boat | 7.5 |  |  |  |  | 6.1 |  |  | 14.7 |  |  | 12.9 |  |  |
Corporate/Other | 1.0 |  |  |  |  | 2.2 |  |  | 2.0 |  |  | 4.7 |  |  |
Total | $ | 41.8 |  |  |  |  | $ | 43.0 |  |  | $ | 80.3 |  |  | $ | 88.8 |  |  |
| Net Sales
| Three Months Ended |  | Six Months Ended
(in millions) | June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024
United States | $ | 976.4 |  |  | $ | 974.9 |  |  | $ | 1,794.5 |  |  | $ | 1,891.9 |
International | 470.6 |  |  | 469.0 |  |  | 874.3 |  |  | 917.0 |
Total | $ | 1,447.0 |  |  | $ | 1,443.9 |  |  | $ | 2,668.8 |  |  | $ | 2,808.9 |
| Net Property
(in millions) | June 28, 2025 |  | December 31, 2024 |  | June 29, 2024
United States | $ | 1,112.3 |  |  | $ | 1,127.8 |  |  | $ | 1,174.3 |
International | 110.0 |  |  | 105.2 |  |  | 105.6 |
Corporate/Other | 16.2 |  |  | 18.5 |  |  | 20.4 |
Total | $ | 1,238.5 |  |  | $ | 1,251.5 |  |  | $ | 1,300.3 |

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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