Commitments and Contingencies

6 Months Ended

Jul. 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 six months ended July 3, 2021 and June 27, 2020:

(in millions)	July 3, 2021		June 27, 2020
Balance at beginning of period	$	115.9	$	117.6
Payments - Recurring	(31.1)		(22.5)
(Payments)/Provisions - Sport Yacht and Yachts and Fitness businesses	(1.7)		(2.8)
Provisions/additions for contracts issued/sold	37.8		25.2
Aggregate changes for preexisting warranties	(1.8)		(2.5)
Foreign currency translation	(0.2)		(0.6)
Other	(1.2)		—
Balance at end of period	$	117.7	$	114.4

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 six months ended July 3, 2021 and June 27, 2020:

(in millions)	July 3, 2021		June 27, 2020
Balance at beginning of period	$	87.4	$	75.3
Extended warranty contracts sold	18.7		15.3
Revenue recognized on existing extended warranty contracts	(9.7)		(8.1)
Foreign currency translation	0.3		(0.3)
Other	(0.3)		(0.1)
Balance at end of period	$	96.4	$	82.1