Commitments and Contingencies (Tables)

6 Months Ended

Jul. 03, 2021

Commitments and Contingencies Disclosure [Abstract]

Product Warranty Liabilities

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 Warranty Liabilities

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