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v3.26.1

Segment Data (Tables) | 3 Months Ended
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Apr. 04, 2026
Segment Reporting [Abstract] |
Operating Segments |
| Three Months Ended April 4, 2026 |  |  |  |  |  |
(in millions) | Propulsion |  | Engine P&A |  | Navico Group |  | Boat |  | Corporate/Other |  | Total |  |  |  |  |  |  |  |  |  |  |  |
Net sales (A) | $ | 496.3 |  |  | $ | 288.1 |  |  | $ | 199.8 |  |  | $ | 393.9 |  |  | $ | — |  |  | $ | 1,378.1 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (B) | 383.1 |  |  | 208.0 |  |  | 124.8 |  |  | 321.9 |  |  | — |  |  | 1,037.8 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expenses (C) | 78.8 |  |  | 34.5 |  |  | 69.9 |  |  | 65.5 |  |  | 41.3 |  |  | 290.0 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating earnings | $ | 34.4 |  |  | $ | 45.6 |  |  | $ | 5.1 |  |  | $ | 6.5 |  |  | $ | (41.3) |  |  | $ | 50.3 |  |  |  |  |  |  |  |  |  |  |  |  |
(A) Net sales include $75.0 million, $1.7 million, $23.7 million, and $0.8 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively. (B) Includes $3.3 million of Cost of sales related restructuring, exit, and impairment charges. (C) Includes $242.2 million of Selling, general, and administrative expense, $46.3 million of Research and development expense and $1.5 million of Restructuring, exit, and impairment charges.
| 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 include $73.3 million, $2.4 million, $24.7 million and $0.4 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.
| Depreciation |  | Amortization |  |  |
| Three Months Ended |  | Three Months Ended |  |
(in millions) | April 4, 2026 |  |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |
Propulsion | $ | 30.8 |  |  |  | $ | 29.8 |  |  | $ | 1.5 |  |  | $ | 1.9 |  |  |  |  |  |
Engine P&A | 4.3 |  |  |  | 4.0 |  |  | 0.2 |  |  | 0.2 |  |  |  |  |  |
Navico Group | 2.9 |  |  |  | 2.7 |  |  | 14.9 |  |  | 14.5 |  |  |  |  |  |
Boat | 16.1 |  |  |  | 13.2 |  |  | 1.5 |  |  | 1.5 |  |  |  |  |  |
Corporate/Other | 1.3 |  |  |  | 1.2 |  |  | 1.4 |  |  | 1.1 |  |  |  |  |  |
Total | $ | 55.4 |  |  |  | $ | 50.9 |  |  | $ | 19.5 |  |  | $ | 19.2 |  |  |  |  |  |
| Total Assets
(in millions) | April 4, 2026 |  | December 31, 2025 |  | March 29, 2025
Propulsion | $ | 1,464.9 |  |  | $ | 1,381.0 |  |  | $ | 1,512.1 |
Engine P&A | 943.9 |  |  | 861.3 |  |  | 922.2 |
Navico Group | 1,501.3 |  |  | 1,524.4 |  |  | 1,884.9 |
Boat | 920.8 |  |  | 893.9 |  |  | 898.3 |
Corporate/Other | 674.9 |  |  | 651.6 |  |  | 639.5 |
Total | $ | 5,505.8 |  |  | $ | 5,312.2 |  |  | $ | 5,857.0 |
| Capital Expenditures |  | Research & Development Expense |  |
| Three Months Ended |  | Three Months Ended |  |
(in millions) | April 4, 2026 |  |  |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |
Propulsion | $ | 25.7 |  |  |  |  | $ | 15.2 |  |  | $ | 24.4 |  |  | $ | 18.5 |  |  |  |  |  |
Engine P&A | 3.3 |  |  |  |  | 2.2 |  |  | 0.3 |  |  | 0.4 |  |  |  |  |  |
Navico Group | 3.0 |  |  |  |  | 2.5 |  |  | 13.0 |  |  | 11.4 |  |  |  |  |  |
Boat | 20.9 |  |  |  |  | 15.9 |  |  | 7.5 |  |  | 7.2 |  |  |  |  |  |
Corporate/Other | 4.3 |  |  |  |  | 1.9 |  |  | 1.1 |  |  | 1.0 |  |  |  |  |  |
Total | $ | 57.2 |  |  |  |  | $ | 37.7 |  |  | $ | 46.3 |  |  | $ | 38.5 |  |  |  |  |  |
| Net Sales |  |  |  |
| Three Months Ended |  |
(in millions) | April 4, 2026 |  | March 29, 2025 |  |  |  |
United States | $ | 894.7 |  |  | $ | 818.1 |  |  |  |  |
International | 483.4 |  |  | 403.7 |  |  |  |  |
Total | $ | 1,378.1 |  |  | $ | 1,221.8 |  |  |  |  |
| Net Property
(in millions) | April 4, 2026 |  | December 31, 2025 |  | March 29, 2025
United States | $ | 1,085.8 |  |  | $ | 1,097.9 |  |  | $ | 1,133.9 |
International | 107.6 |  |  | 109.9 |  |  | 105.7 |
Total | $ | 1,193.4 |  |  | $ | 1,207.8 |  |  | $ | 1,239.6 |

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