Commitments and Contingencies

3 Months Ended

Apr. 03, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Product Warranties

The following activity related to product warranty liabilities was recorded in Accrued expenses during the three months ended April 3, 2021 and March 28, 2020:

(in millions)	April 3, 2021		March 28, 2020
Balance at beginning of period	$	115.9	$	117.6
Payments - Recurring	(14.5)		(11.6)
(Payments)/Provisions - Sport Yacht and Yachts and Fitness businesses	(0.9)		(1.7)
Provisions/additions for contracts issued/sold	18.7		13.8
Aggregate changes for preexisting warranties	0.2		(1.3)
Foreign currency translation	(0.5)		(0.8)
Other	(1.0)		—
Balance at end of period	$	117.9	$	116.0

Extended Product Warranties

The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the three months ended April 3, 2021 and March 28, 2020:

(in millions)	April 3, 2021		March 28, 2020
Balance at beginning of period	$	87.4	$	75.3
Extended warranty contracts sold	7.2		5.7
Revenue recognized on existing extended warranty contracts	(4.8)		(3.9)
Foreign currency translation	0.1		(0.4)
Other	(0.1)		(0.1)
Balance at end of period	$	89.8	$	76.6