10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

  For the quarterly period ended July 02, 2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 001-01043

____________

 

Brunswick Corporation

(Exact name of registrant as specified in its charter)

Delaware	36-0848180
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

26125 N. Riverwoods Blvd., Suite 500, Mettawa, IL 60045-3420

(Address of principal executive offices) (Zip code)

(847) 735-4700

(Registrant’s telephone number, including area code) 

 N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒  No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒  No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	☒	Accelerated Filer	☐
Non-accelerated Filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common stock, par value $0.75 per share	BC	New York Stock Exchange
		Chicago Stock Exchange
6.500% Senior Notes due 2048	BC-A	New York Stock Exchange
6.625% Senior Notes due 2049	BC-B	New York Stock Exchange
6.375% Senior Notes due 2049	BC-C	New York Stock Exchange

The number of shares of Common Stock ($0.75 par value) of the registrant outstanding as of July 28, 2022 was 74,369,399.

BRUNSWICK CORPORATION

INDEX TO QUARTERLY REPORT ON FORM 10-Q

July 2, 2022

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION		Page
Item 1.	Condensed Consolidated Financial Statements (Unaudited)	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	36
Item 4.	Controls and Procedures	36
PART II – OTHER INFORMATION
Item 1A.	Risk Factors	37
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	37
Item 6.	Exhibits	38

PART I - FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

BRUNSWICK CORPORATION

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
(in millions, except per share data)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net sales	$	1,835.6	$	1,554.8	$	3,531.3	$	2,988.0
Cost of sales	1,299.2		1,093.3		2,511.3		2,109.2
Selling, general and administrative expense	207.2		173.6		399.9		324.4
Research and development expense	50.2		37.5		101.6		71.6
Restructuring, exit and impairment charges	—		0.2		—		0.7
Operating earnings	279.0		250.2		518.5		482.1
Equity earnings	0.7		0.4		1.5		1.2
Other income (expense), net	0.3		(1.5)		(1.2)		(2.8)
Earnings before interest and income taxes	280.0		249.1		518.8		480.5
Interest expense	(25.9)		(15.4)		(44.3)		(30.2)
Interest income	0.5		0.9		0.6		1.1
Loss on early extinguishment of debt	—		—		(0.1)		—
Earnings before income taxes	254.6		234.6		475.0		451.4
Income tax provision	55.8		55.2		102.2		102.6
Net earnings from continuing operations	198.8		179.4		372.8		348.8
Net loss from discontinued operations, net of tax	(1.5)		—		(1.3)		(0.1)
Net earnings	$	197.3	$	179.4	$	371.5	$	348.7
Earnings per common share:
Basic
Earnings from continuing operations	$	2.63	$	2.30	$	4.89	$	4.47
Loss from discontinued operations	(0.02)		—		(0.02)		—
Net earnings	$	2.61	$	2.30	$	4.87	$	4.47
Diluted
Earnings from continuing operations	$	2.61	$	2.29	$	4.86	$	4.44
Loss from discontinued operations	(0.02)		—		(0.02)		—
Net earnings	$	2.59	$	2.29	$	4.84	$	4.44
Weighted average shares used for computation of:
Basic earnings per common share	75.7		78.0		76.3		78.0
Diluted earnings per common share	76.1		78.5		76.7		78.6
Comprehensive income	$	185.0	$	184.0	$	369.1	$	358.9
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

3

BRUNSWICK CORPORATION

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Assets
Current assets
Cash and cash equivalents, at cost, which approximates fair value	$	566.7	$	354.5	$	590.2
Restricted cash	11.9		12.2		9.7
Short-term investments in marketable securities	37.0		0.8		0.8
Total cash and short-term investments in marketable securities	615.6		367.5		600.7
Accounts and notes receivable, less allowances of $9.3, $9.7, $10.3	611.0		485.3		503.3
Inventories
Finished goods	746.0		685.5		468.6
Work-in-process	201.4		176.8		147.6
Raw materials	425.0		345.7		218.9
Net inventories	1,372.4		1,208.0		835.1
Prepaid expenses and other	86.4		63.8		48.9
Current assets	2,685.4		2,124.6		1,988.0
Property
Land	37.1		34.7		17.6
Buildings and improvements	520.0		479.3		446.8
Equipment	1,420.8		1,332.4		1,244.4
Total land, buildings and improvements and equipment	1,977.9		1,846.4		1,708.8
Accumulated depreciation	(1,016.1)		(989.6)		(964.5)
Net land, buildings and improvements and equipment	961.8		856.8		744.3
Unamortized product tooling costs	202.6		190.1		167.7
Net property	1,164.4		1,046.9		912.0
Other assets
Goodwill	966.7		888.4		434.3
Other intangibles, net	1,038.2		1,052.1		536.3
Deferred income tax asset	128.6		146.0		117.2
Operating lease assets	103.0		92.8		85.9
Equity investments	48.0		43.8		41.4
Other long-term assets	32.2		30.4		23.4
Other assets	2,316.7		2,253.5		1,238.5
Total assets	$	6,166.5	$	5,425.0	$	4,138.5
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

4

(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Liabilities and shareholders' equity
Current liabilities
Short-term debt and current maturities of long-term debt	$	3.0	$	37.4	$	43.5
Accounts payable	644.0		693.5		588.2
Accrued expenses	700.7		711.3		619.6
Current liabilities	1,347.7		1,442.2		1,251.3
Long-term liabilities
Debt	2,499.0		1,779.0		832.0
Postretirement benefits	64.0		66.5		71.9
Operating lease liabilities	86.1		75.5		69.5
Other	165.1		147.6		144.3
Long-term liabilities	2,814.2		2,068.6		1,117.7
Shareholders' equity
Common stock; authorized: 200,000,000 shares, $0.75 par value; issued: 102,538,000 shares; outstanding: 74,472,000, 76,933,000 and 77,554,000 shares	76.9		76.9		76.9
Additional paid-in capital	380.8		394.5		380.1
Retained earnings	3,036.2		2,720.1		2,527.2
Treasury stock, at cost: 28,066,000, 25,605,000 and 24,984,000 shares	(1,455.4)		(1,245.8)		(1,182.2)
Accumulated other comprehensive loss	(33.9)		(31.5)		(32.5)
Shareholders' equity	2,004.6		1,914.2		1,769.5
Total liabilities and shareholders' equity	$	6,166.5	$	5,425.0	$	4,138.5
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

5

BRUNSWICK CORPORATION

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
(in millions)	July 2, 2022		July 3, 2021
Cash flows from operating activities
Net earnings	$	371.5	$	348.7
Less: net loss from discontinued operations, net of tax	(1.3)		(0.1)
Net earnings from continuing operations, net of tax	372.8		348.8
Stock compensation expense	12.0		14.8
Depreciation and amortization	106.1		84.6
Pension funding, net of expense	(0.3)		(1.3)
Asset impairment charges	1.5		0.8
Deferred income taxes	10.8		12.3
Changes in certain current assets and current liabilities	(338.6)		(136.5)
Long-term extended warranty contracts and other deferred revenue	8.8		9.0
Income taxes	(5.9)		10.0
Other, net	(17.8)		8.0
Net cash provided by operating activities of continuing operations	149.4		350.5
Net cash used for operating activities of discontinued operations	(2.5)		(9.1)
Net cash provided by operating activities	146.9		341.4
Cash flows from investing activities
Capital expenditures	(196.5)		(110.3)
Purchases of marketable securities	(36.2)		—
Sales or maturities of marketable securities	—		55.9
Investments	(4.0)		(9.1)
Acquisition of businesses, net of cash acquired	(95.7)		(16.7)
Proceeds from the sale of property, plant and equipment	3.0		4.6
Cross currency swap settlement	16.7		—
Net cash used for investing activities	(312.7)		(75.6)
Cash flows from financing activities
Proceeds from issuances of short-term debt	125.9		—
Payments of short-term debt	(125.0)		—
Net proceeds from issuances of long-term debt	741.8		1.9
Payments of long-term debt including current maturities	(58.0)		(78.5)
Common stock repurchases	(220.0)		(55.9)
Cash dividends paid	(55.4)		(47.2)
Proceeds from share-based compensation activity	—		0.5
Tax withholding associated with shares issued for share-based compensation	(16.4)		(12.8)
Other, net	(4.0)		(3.7)
Net cash provided by (used for) financing activities	388.9		(195.7)
Effect of exchange rate changes	(11.2)		(0.5)
Net increase in Cash and cash equivalents and Restricted cash	211.9		69.6
Cash and cash equivalents and Restricted cash at beginning of period	366.7		530.3
Cash and cash equivalents and Restricted cash at end of period	578.6		599.9
Less: Restricted cash	11.9		9.7
Cash and cash equivalents at end of period	$	566.7	$	590.2
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

6

Brunswick Corporation

Condensed Consolidated Statements of Shareholders' Equity

(Unaudited)

(in millions, except per share data)	Common Stock		Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Total
Balance at December 31, 2021	$	76.9	$	394.5	$	2,720.1	$	(1,245.8)	$	(31.5)	$	1,914.2
Net earnings	—		—		174.2		—		—		174.2
Other comprehensive income	—		—		—		—		9.9		9.9
Dividends ($0.365 per common share)	—		—		(28.0)		—		—		(28.0)
Compensation plans and other	—		(20.0)		—		9.4		—		(10.6)
Common stock repurchases	—		—		—		(79.8)		—		(79.8)
Balance at April 2, 2022	76.9		374.5		2,866.3		(1,316.2)		(21.6)		1,979.9
Net earnings	—		—		197.3		—		—		197.3
Other comprehensive loss	—		—		—		—		(12.3)		(12.3)
Dividends ($0.365 per common share)	—		—		(27.4)		—		—		(27.4)
Compensation plans and other	—		6.3		—		1.0		—		7.3
Common stock repurchases	—		—		—		(140.2)		—		(140.2)
Balance at July 2, 2022	$	76.9	$	380.8	$	3,036.2	$	(1,455.4)	$	(33.9)	$	2,004.6

(in millions, except per share data)	Common Stock		Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Total
Balance at December 31, 2020	$	76.9	$	383.8	$	2,225.7	$	(1,133.7)	$	(42.7)	$	1,510.0
Net earnings	—		—		169.3		—		—		169.3
Other comprehensive income	—		—		—		—		5.6		5.6
Dividends ($0.27 per common share)	—		—		(21.0)		—		—		(21.0)
Compensation plans and other	—		(12.6)		—		7.2		—		(5.4)
Common stock repurchases	—		—		—		(15.9)		—		(15.9)
Balance at April 3, 2021	76.9		371.2		2,374.0		(1,142.4)		(37.1)		1,642.6
Net earnings	—		—		179.4		—		—		179.4
Other comprehensive income	—		—		—		—		4.6		4.6
Dividends ($0.335 per common share)	—		—		(26.2)		—		—		(26.2)
Compensation plans and other	—		8.9		—		0.2		—		9.1
Common stock repurchases	—		—		—		(40.0)		—		(40.0)
Balance at July 3, 2021	$	76.9	$	380.1	$	2,527.2	$	(1,182.2)	$	(32.5)	$	1,769.5

The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

7

BRUNSWICK CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 1 – Significant Accounting Policies

Interim Financial Statements. Brunswick's ("Brunswick" or "the Company") unaudited interim condensed consolidated financial statements have been prepared pursuant to Securities and Exchange Commission ("SEC") rules and regulations. Therefore, certain information and disclosures normally included in financial statements and related notes prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted.

These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Brunswick's 2021 Annual Report on Form 10-K for the year ended December 31, 2021 ("the 2021 Form 10-K"). These results include, in management's opinion, all normal and recurring adjustments necessary to present fairly Brunswick's financial position, results of operations and cash flows. Due to the seasonality of Brunswick's businesses, the interim results are not necessarily indicative of the results that may be expected for the remainder of the year.

The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The second quarter of fiscal year 2022 ended on July 2, 2022 and the second quarter of fiscal year 2021 ended on July 3, 2021.

Recently Adopted Accounting Standards

Revenue Contracts Acquired in Business Combinations: In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08, Accounting for Contract Assets and Contract Liabilities From Contracts With Customers, which amended the guidance in Accounting Standards Codification ("ASC") 805 to require that the acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. The Company early adopted the guidance in ASU 2021-08 on July 2, 2022. The adoption of this standard did not have a material impact on the consolidated financial statements.

Recently Issued Accounting Standards

Fair Value Hedge Accounting: In March 2022, the FASB issued ASU 2022-01, Fair Value Hedging — Portfolio Layer Method, which clarifies the guidance in ASC 815 on fair value hedge accounting of interest-rate risk for portfolios of financial assets. ASU 2022-01 amends the guidance that established the “last-of-layer” method for making the fair value hedge accounting for these portfolios more accessible. The amendment is effective for financial statements for interim and annual periods beginning after December 15, 2022. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

8

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 2 – Revenue Recognition

The following table presents the Company's revenue in categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	483.6	$	444.3	$	423.1	$	1,351.0	$	404.4	$	391.7	$	314.1	$	1,110.2
Europe	118.4		99.6		56.0		274.0		119.7		69.9		52.5		242.1
Asia-Pacific	59.5		52.2		7.5		119.2		66.6		39.9		7.3		113.8
Canada	24.5		39.1		70.4		134.0		24.1		34.2		66.8		125.1
Rest-of-World	48.2		16.3		11.4		75.9		34.7		13.2		8.4		56.3
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	936.3	$	851.8	$	791.5	$	2,579.6	$	825.7	$	704.0	$	626.7	$	2,156.4
Europe	231.8		207.6		101.6		541.0		228.7		133.4		94.1		456.2
Asia-Pacific	122.8		105.1		16.6		244.5		132.3		82.4		14.0		228.7
Canada	57.7		69.6		132.6		259.9		49.3		59.6		115.2		224.1
Rest-of-World	91.5		35.2		18.9		145.6		71.3		29.1		18.6		119.0
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

9

Notes to Condensed Consolidated Financial Statements

(unaudited)

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	565.8	$	—	$	—	$	565.8	$	494.2	$	—	$	—	$	494.2
Controls, Rigging, and Propellers	106.4		—		—		106.4		96.1		—		—		96.1
Sterndrive Engines	62.0		—		—		62.0		59.2		—		—		59.2
Distribution Parts and Accessories	—		231.4		—		231.4		—		255.2		—		255.2
Engine Parts and Accessories	—		146.7		—		146.7		—		155.4		—		155.4
Advanced Systems Group	—		159.2		—		159.2		—		138.3		—		138.3
Navico	—		114.2		—		114.2		—		—		—		—
Aluminum Freshwater Boats	—		—		237.4		237.4		—		—		190.1		190.1
Recreational Fiberglass Boats	—		—		187.4		187.4		—		—		154.2		154.2
Saltwater Fishing Boats	—		—		110.3		110.3		—		—		93.0		93.0
Business Acceleration	—		—		35.8		35.8		—		—		15.3		15.3
Boat Eliminations/Other	—		—		(2.5)		(2.5)		—		—		(3.5)		(3.5)
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	1,111.9	$	—	$	—	$	1,111.9	$	998.7	$	—	$	—	$	998.7
Controls, Rigging, and Propellers	204.9		—		—		204.9		191.0		—		—		191.0
Sterndrive Engines	123.3		—		—		123.3		117.6		—		—		117.6
Distribution Parts and Accessories	—		434.9		—		434.9		—		455.8		—		455.8
Engine Parts and Accessories	—		272.3		—		272.3		—		279.6		—		279.6
Advanced Systems Group	—		311.1		—		311.1		—		273.1		—		273.1
Navico	—		251.0		—		251.0		—		—		—		—
Aluminum Freshwater Boats	—		—		458.0		458.0		—		—		367.9		367.9
Recreational Fiberglass Boats	—		—		351.8		351.8		—		—		289.6		289.6
Saltwater Fishing Boats	—		—		199.5		199.5		—		—		189.8		189.8
Business Acceleration	—		—		55.4		55.4		—		—		28.0		28.0
Boat Eliminations/Other	—		—		(3.5)		(3.5)		—		—		(6.7)		(6.7)
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

As of December 31, 2021, $142.1 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $10.5 million and $24.8 million were recognized as revenue during the three and six months ended July 2, 2022, respectively. As of July 2, 2022, total contract liabilities were $181.2 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of July 2, 2022 was $168.9 million for contracts greater than one year, which

10

Notes to Condensed Consolidated Financial Statements

(unaudited)

primarily relates to extended warranties. The Company expects to recognize $29.2 million of this amount in the second half of 2022, $50.2 million in 2023, and $89.5 million thereafter.

Note 3 – Acquisitions

2022 Acquisitions

During the second quarter of 2022, the Company acquired certain Freedom Boat Club franchise operations and territory rights as well as certain marine assets in the Southeast United States. These acquisitions enable opportunities across a wide spectrum, building upon the growth Brunswick has cultivated throughout the Company's shared access portfolio and new digital platforms. These acquisitions are included as part of the Company's Boat segment.

The Company paid net cash consideration of $95.7 million for these acquisitions. The opening balance sheets, which are preliminary and subject to change in the measurement period as the Company finalizes the purchase price allocation and fair value estimates, include $79.5 million of goodwill and $9.1 million of customer relationships. The amount assigned to customer relationships will be amortized over the estimated useful life of 10 years. Transaction costs associated with these acquisitions of $1.2 million were expensed as incurred within Selling, general and administrative expense during the six months ended July 2, 2022. The acquisitions are not material to the Company's net sales, results of operations, or total assets during any period presented. Accordingly, the Company's consolidated results of operations do not differ materially from historical performance as a result of the acquisitions, and pro forma results are not presented.

2021 Acquisitions

On October 4, 2021, the Company acquired all the issued and outstanding shares of Marine Innovations Group AS, known as "Navico", for $1.094 billion net cash consideration. The Company used a combination of the notes issued in the third quarter of 2021 and cash on hand to fund the acquisition.

Navico was a privately held global company based in Egersund, Norway, and is a global leader in marine electronics and sensors, including multi-function displays, fish finders, autopilots, sonar, radar, and cartography. The acquisition of Navico accelerates the Company's ACES ("Autonomy, Connectivity, Electrification, and Shared access") strategy and strengthens the Company's ability to provide complete, innovative digital solutions to consumers and comprehensive, integrated system offerings to the Company's original equipment manufacturer customers. Navico is managed as part of the Company's Parts & Accessories segment.

The Company used the acquisition method of accounting in accordance with ASC 805, Business Combinations, with Brunswick being the acquiring entity, and reflecting estimates and assumptions deemed appropriate by Company management.

11

Notes to Condensed Consolidated Financial Statements

(unaudited)

The purchase price allocation for certain deferred tax balances and contingency reserves is preliminary and subject to change within the allowed measurement period as the Company finalizes its fair value estimates. The following table is a summary of the assets acquired, liabilities assumed and net cash consideration paid, net of cash acquired, for the Navico acquisition:

(in millions)	Fair Value		Useful Life
Accounts and notes receivable	$	59.3
Inventory	161.7
Goodwill (A) (B)	437.0
Trade names	133.0		Indefinite
Developed technology	160.0		15 years
Customer relationships	185.0		15 years
Property and equipment	46.1
Other assets	26.9
Total assets acquired	1,209.0
Accounts payable	66.0
Accrued expenses (B)	46.6
Other liabilities	24.0
Total liabilities assumed	136.6
Net cash consideration paid, net of cash acquired	$	1,072.4

(A) The goodwill recorded for the acquisition of Navico is partially deductible for tax purposes.

(B) Includes $1.5 million of purchase accounting adjustments for the six months ended July 2, 2022 related to contingency reserves.

Pro Forma Financial Information (Unaudited)

The pro forma information has been prepared as if the Navico acquisition and the related debt financing had occurred on January 1, 2021. These pro forma results are based on estimates and assumptions which the Company believes to be reasonable. They are not the results that would have been realized had the acquisition actually occurred on January 1, 2021 and are not necessarily indicative of Brunswick's consolidated net earnings in future periods. The pro forma results include adjustments primarily related to the amortization of intangible assets and interest expense on the notes issued in the third quarter of 2021. Additionally, non-recurring pro forma adjustments include transaction costs of $0.8 million and $14.8 million and expenses related to inventory fair value adjustments of $9.0 million and $18.1 million for the three and six months ended July 3, 2021, respectively, recognized as part of the application of purchase accounting.

(in millions)	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Pro forma Net sales	$	1,835.6	$	1,683.8	$	3,531.3	$	3,257.7
Pro forma Net earnings	197.9		180.8		379.4		353.9

The pro forma results reflect a statutory income tax rate of 21 percent for the three and six months ended July 2, 2022 and July 3, 2021.

12

Notes to Condensed Consolidated Financial Statements

(unaudited)

Other 2021 Acquisitions

On September 1, 2021, the Company acquired substantially all the net assets of RELiON Battery, LLC ("RELiON"). RELiON is a global provider of lithium batteries and related products to multiple industry sectors. The acquisition of RELiON complements the Company's existing portfolio of advanced battery and power management brands. On September 17, 2021, the Company acquired substantially all the net assets of SemahTronix, LLC, a global supplier of high-complexity electrical wiring harnesses for advanced products in the marine, mobile, and defense industries. The acquisition of the SemahTronix assets enhances the Company's integrated systems offerings by providing the Company's ASG organization and the Company's global customers access to high-quality, large, complex electrical wire harnessing systems that further enable the Company's end-to-end systems solutions and capabilities. These acquisitions are included as part of the Parts & Accessories segment.

On July 9, 2021, the Company acquired Fanautic Club, one of the largest European boat clubs with 23 locations in major coastal cities and tourist centers across Spain. The Company also acquired certain Freedom Boat Club franchise operations and territory rights in the United States during 2021. Acquiring such assets enables Brunswick to accelerate growth by increasing its investments in these markets. These acquisitions are included as part of the Boat segment.

The Company paid net cash consideration of $66.2 million for these acquisitions. The opening balance sheets include $36.8 million of goodwill and $24.1 million of identifiable intangible assets, including customer relationships and trade names of $17.2 million and $6.9 million, respectively. The amount assigned to customer relationships will be amortized over the estimated useful life of 10 years. These acquisitions are not material to the Company's net sales, results of operations or total assets during any period presented. Accordingly, the Company's consolidated results of operations do not differ materially from historical performance as a result of the acquisitions, and pro forma results are not presented.

Note 4 – Financial Instruments

The Company operates globally with manufacturing and sales facilities around the world. Due to the Company’s global operations, the Company engages in activities involving both financial and market risks. The Company utilizes normal operating and financing activities, along with derivative financial instruments, to minimize these risks. See Note 14 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for further details regarding the Company's financial instruments and hedging policies.

Cross-Currency Swaps. The Company enters into cross-currency swaps to hedge Euro currency exposures of the net investment in certain foreign subsidiaries. As of July 2, 2022, December 31, 2021 and July 3, 2021, the notional value of cross-currency swap contracts outstanding were $250.0 million, $200.0 million and $200.0 million, respectively. The cross-currency swaps were designated as net investment hedges, with the amount of gain or loss associated with the change in fair value of these instruments deferred in Accumulated other comprehensive loss and recognized upon termination of the respective investment. In the first quarter of 2022, the Company settled $200.0 million of cross-currency swap contracts resulting in a deferred gain of $16.7 million within Accumulated other comprehensive loss.

Commodity Price. The Company uses commodity swaps to hedge anticipated purchases of aluminum. As of July 2, 2022, December 31, 2021 and July 3, 2021, the notional value of commodity swap contracts outstanding was $22.6 million, $25.3 million and $11.2 million, respectively, and the contracts mature through 2023. The amount of gain or loss associated with the change in fair value of these instruments is deferred in Accumulated other comprehensive loss and recognized in Cost of sales in the same period or periods during which the hedged transaction affects earnings. As of July 2, 2022, the Company estimates that, during the next 12 months, it will reclassify approximately $2.2 million in net losses (based on current prices) from Accumulated other comprehensive loss to Cost of sales.

Foreign Currency Derivatives. Forward exchange contracts outstanding at July 2, 2022, December 31, 2021 and July 3, 2021 had notional contract values of $650.0 million, $519.8 million and $481.1 million, respectively. The forward contracts outstanding at July 2, 2022 mature through 2023 and mainly relate to the Euro, Australian dollar, Canadian dollar, and Japanese yen. As of July 2, 2022, the Company estimates that during the next 12 months, it

13

Notes to Condensed Consolidated Financial Statements

(unaudited)

will reclassify approximately $23.4 million of net gains (based on current rates) from Accumulated other comprehensive loss to Cost of sales.

Interest Rate Derivatives. During the first quarter of 2021, the Company entered into forward-starting interest-rate swaps to hedge the interest-rate risk associated with anticipated debt issuances. On August 4, 2021, the Company settled these interest-rate swaps, resulting in a net deferred loss of $1.6 million. As a result, there were no forward-starting interest-rate swaps outstanding as of July 2, 2022 and December 31, 2021. As of July 3, 2021, the outstanding forward-starting interest-rate swaps had a total notional contract value of $150.0 million.

During the first quarter of 2022, the Company entered into and settled a series of treasury-lock swaps to hedge the interest-rate risk associated with debt issuances, resulting in a net deferred gain of $5.1 million. As a result, there were no treasury-lock swaps outstanding as of July 2, 2022, December 31, 2021 or July 3, 2021.

The Company had net deferred gains (losses) associated with the forward-starting interest-rate swaps and treasury-lock swaps discussed above of $3.0 million, $(2.4) million, and $1.7 million as of July 2, 2022, December 31, 2021, and July 3, 2021, respectively. These instruments were designated as cash flow hedges with gains and losses included in Accumulated other comprehensive loss. As of July 2, 2022, the Company estimates that during the next 12 months, it will reclassify approximately $0.4 million of net losses from Accumulated other comprehensive loss to Interest expense.

As of July 2, 2022, December 31, 2021 and July 3, 2021, the fair values of the Company’s derivative instruments were:

(in millions)	Fair Value
Asset Derivatives	July 2, 2022		December 31, 2021		July 3, 2021
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	24.3	$	8.8	$	3.4
Commodity contracts	—		1.9		3.3
Interest rate contracts	—		—		2.8
Total	$	24.3	$	10.7	$	9.5
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	$	14.2	$	14.3	$	5.9
Other Hedging Activity
Foreign exchange contracts	$	2.0	$	0.1	$	0.2
Liability Derivatives
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	1.9	$	2.6	$	5.4
Commodity contracts	2.4		—		—
Total	$	4.3	$	2.6	$	5.4
Other Hedging Activity
Foreign exchange contracts	$	0.1	$	0.3	$	0.3

14

Notes to Condensed Consolidated Financial Statements

(unaudited)

As of July 2, 2022, December 31, 2021 and July 3, 2021, asset derivatives are included within Prepaid expenses and other and Other long-term assets, and liability derivatives are included within Accrued expenses and Other long-term liabilities in the Condensed Consolidated Balance Sheets.

The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended July 2, 2022 and July 3, 2021 is as shown in the tables below.

The amount of gain (loss) on derivatives recognized in Accumulated other comprehensive loss was as follows:

(in millions)	Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	$	—	$	(7.0)	$	5.3	$	2.8
Foreign exchange contracts	25.3		(2.2)		27.9		0.4
Commodity contracts	(5.7)		2.2		(0.7)		4.3
Total	$	19.6	$	(7.0)	$	32.5	$	7.5
Derivatives Designated as Net Investment Hedging Instruments
Cross-currency swaps	$	15.2	$	5.9	$	16.6	$	5.9

The amount of gain (loss) reclassified from Accumulated other comprehensive loss into earnings was as follows:

(in millions)		Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	Location of Gain (Loss)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	Interest expense	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)
Foreign exchange contracts	Cost of sales	5.3		(4.0)		8.0		(7.1)
Commodity contracts	Cost of sales	2.3		1.2		3.9		1.5
Total		$	7.5	$	(3.0)	$	11.8	$	(5.9)
Derivatives Designated as Fair Value Hedging Instruments
Interest rate contracts	Interest expense	$	0.1	$	0.1	$	0.3	$	0.3
Other Hedging Activity
Foreign exchange contracts	Cost of sales	$	5.4	$	(2.8)	$	1.8	$	(1.0)
Foreign exchange contracts	Other expense, net	0.2		(0.2)		0.2		(2.4)
Total		$	5.6	$	(3.0)	$	2.0	$	(3.4)

Fair Value of Other Financial Instruments. The carrying values of the Company's short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. At July 2, 2022, December 31, 2021 and July 3, 2021, the fair value of the Company’s long-term debt, including short-term debt and current maturities, was approximately $2,272.0 million, $1,914.7 million and $1,001.4 million, respectively, and was determined using Level 1 and Level 2 inputs described in Note 7 to the Notes to Consolidated Financial Statements in the 2021 Form 10-K. The carrying value of long-term debt, including short-term debt and current maturities, was $2,534.9 million, $1,843.1 million and $895.6 million as of July 2, 2022, December 31, 2021 and July 3, 2021, respectively.

15

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 5 – Fair Value Measurements

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:

(in millions)		Fair Value
Category	Fair Value Level	July 2, 2022		December 31, 2021		July 3, 2021
Cash equivalents	1	$	39.2	$	0.4	$	0.2
Short-term investments in marketable securities	1	37.0		0.8		0.8
Restricted cash	1	11.9		12.2		9.7
Derivatives assets	2	40.5		25.1		15.6
Derivative liabilities	2	4.4		2.9		5.7
Deferred compensation	1	1.4		1.4		1.4
Deferred compensation	2	14.2		17.7		16.8
Liabilities measured at net asset value		10.4		10.2		9.3

In addition to the items shown in the table above, refer to Note 17 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for further information regarding the fair value measurements associated with the Company's postretirement benefit plans.

Note 6 – Commitments and Contingencies

Product Warranties

The following activity related to product warranty liabilities was recorded in Accrued expenses during the six months ended July 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	129.3	$	115.9
Payments - Recurring	(29.2)		(31.1)
Provisions/additions for contracts issued/sold	41.1		37.8
Aggregate changes for preexisting warranties	(0.2)		(1.8)
Foreign currency translation	(1.3)		(0.2)
Other	(0.9)		(2.9)
Balance at end of period	$	138.8	$	117.7

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 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	99.5	$	87.4
Extended warranty contracts sold	20.1		18.7
Revenue recognized on existing extended warranty contracts	(11.0)		(9.7)
Foreign currency translation	—		0.3
Other	(0.3)		(0.3)
Balance at end of period	$	108.3	$	96.4

16

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 7 – Goodwill and Other Intangibles

Changes in the Company's goodwill during the six months ended July 2, 2022 and July 3, 2021, by segment, are summarized below:

(in millions)	Propulsion		Parts & Accessories		Boat		Total
December 31, 2021	$	14.7	$	814.9	$	58.8	$	888.4
Acquisitions	—		—		79.5		79.5
Adjustments	(0.8)		(0.5)		0.1		(1.2)
July 2, 2022	$	13.9	$	814.4	$	138.4	$	966.7
December 31, 2020	$	15.3	$	372.5	$	29.9	$	417.7
Acquisitions	—		—		16.8		16.8
Adjustments	(0.2)		—		—		(0.2)
July 3, 2021	$	15.1	$	372.5	$	46.7	$	434.3

Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. In addition, adjustments during the six months ended July 2, 2022 also include $1.9 million of purchase accounting adjustments from 2021 acquisitions. There was no accumulated impairment loss on Goodwill as of July 2, 2022, December 31, 2021 or July 3, 2021.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of July 2, 2022, December 31, 2021 and July 3, 2021, are summarized by intangible asset type below:

	July 2, 2022				December 31, 2021				July 3, 2021
(in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Intangible assets:
Customer relationships	$	897.4	$	(362.4)	$	889.4	$	(340.9)	$	687.6	$	(322.3)
Trade names	305.4		—		306.1		—		166.3		—
Developed technology	160.0		(8.0)		160.0		(2.7)		—		—
Other	74.3		(28.5)		62.0		(21.8)		18.5		(13.8)
Total	$	1,437.1	$	(398.9)	$	1,417.5	$	(365.4)	$	872.4	$	(336.1)

Other intangible assets primarily consist of software, patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $15.4 million and $31.3 million for three and six months ended July 2, 2022, respectively. Aggregate amortization expense for intangibles was $8.0 million and $16.0 million for three and six months ended July 3, 2021, respectively.

The Company tests its intangible assets for impairment during the fourth quarter of each year, or whenever a significant change in events and circumstances (triggering event) occurs that indicates the fair value of intangible assets may be below their carrying values. The Company did not record an impairment charge during the six months ended July 2, 2022 or July 3, 2021.

17

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 8 – Segment Data

Reportable Segments

The Company's segments are defined by management's reporting structure and operating activities. The Company's reportable segments are the following:

Propulsion. The Propulsion segment manufactures and markets a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, rigging, and propellers. These products are principally sold directly to boat builders, including Brunswick's Boat segment, and through marine retail dealers worldwide. The Propulsion segment primarily markets under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, and Mercury Diesel brands. The segment's engine manufacturing plants are located mainly in the United States and China, along with a joint venture in Japan, with sales mainly to markets in the Americas, Europe, and Asia-Pacific.

Parts & Accessories. The Parts & Accessories ("P&A") segment consists of the Engine Parts and Accessories and the Advanced Systems Group operating segments, which are aggregated and presented as a single reportable segment. The P&A segment also includes Navico, which was acquired in October 2021.

The P&A segment manufactures, markets, and supplies parts and accessories for both marine and non-marine markets. These products are designed for and sold mostly to aftermarket retailers, distributors, and distribution businesses, as well as original equipment manufacturers (including Brunswick brands). Branded parts and accessories include consumables, such as engine oils and lubricants, and are sold under the Mercury, Mercury Precision Parts, Quicksilver, and Seachoice brands. The P&A segment includes distribution businesses such as Land 'N' Sea, Kellogg Marine Supply, Lankhorst Taselaar, BLA, and Payne's Marine Group, which distribute third-party and Company products. These businesses are leading distributors of marine parts and accessories throughout North America, Europe, and Asia-Pacific. The P&A segment also includes businesses operating under the Ancor, Attwood, BEP, Blue Sea Systems, CZone, Del City, Garelick, Lenco Marine, Marinco, Mastervolt, MotorGuide, ParkPower, ProMariner, RELiON, Whale, and ASG Connect brand names. Products include marine electronics and control systems, instruments, trolling motors, fuel systems, and electrical systems, as well as specialty vehicle, mobile, and transportation aftermarket products. The P&A segment also includes Navico, a global leader in marine electronics and sensors, including multi-function displays, fish finders, autopilots, sonar, radar, and cartography operating under the B&G, C-MAP, Lowrance, and Simrad brand names.

The P&A segment's manufacturing and distribution facilities are primarily located in North America, Europe, Australia, and New Zealand.

Boat. The Boat segment designs, manufactures, and markets the following boat brands and products: Sea Ray sport boats and cruisers; Bayliner sport cruisers, runabouts, and Heyday wake boats; Boston Whaler fiberglass offshore boats; Lund fiberglass fishing boats; Crestliner, Cypress Cay, Harris, Lowe, Lund and Princecraft aluminum fishing, utility, pontoon boats, and deck boats; and Thunder Jet heavy-gauge aluminum boats. The Boat segment procures substantially all of its outboard engines, gasoline sterndrive engines, and gasoline inboard engines from Brunswick's Propulsion segment. The Boat segment also includes Brunswick boat brands based in Europe and Asia-Pacific, which include Quicksilver, Uttern, and Rayglass (including Protector and Legend). The Boat segment's products are manufactured mainly in the United States, Europe, and Mexico and sold through a global network of dealer and distributor locations, primarily in North America and Europe.

The Boat segment includes Business Acceleration which, through innovative service models, shared access solutions, including the Freedom Boat Club business acquired in 2019, dealer services and emerging technology, aims to provide exceptional experiences to attract a wide range of customers to the marine industry and shape the future of boating.

The Company evaluates performance based on segment operating earnings. Segment operating earnings do not include the expenses of corporate administration, impairments or gains on the sale of equity investments, earnings from unconsolidated affiliates, other expenses and income of a non-operating nature, transaction financing charges, interest expense, and income or provisions or benefits for income taxes.

Corporate/Other results include items such as corporate staff and administrative costs, investments in technology solutions, business development and other growth-related expenses, including IT enhancements.

18

Notes to Condensed Consolidated Financial Statements

(unaudited)

Corporate/Other total assets consist of mainly cash, cash equivalents and investments in short-term marketable securities, restricted cash, income tax balances and investments in unconsolidated affiliates.

Segment eliminations adjust for sales between the Company's reportable segments and primarily relate to the sale of engines and parts and accessories to various boat brands, which are consummated at established arm's length transfer prices as the intersegment pricing for these engines and parts and accessories are based upon and consistent with selling prices to third-party customers.

Information about the operations of Brunswick's reportable segments is set forth below:

	Net Sales								Operating Earnings (Loss)
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Propulsion	$	734.2	$	649.5	$	1,440.1	$	1,307.3	$	142.0	$	122.1	$	267.3	$	246.6
Parts & Accessories	651.5		548.9		1,269.3		1,008.5		108.2		114.4		199.8		206.3
Boat	568.4		449.1		1,061.2		868.6		58.9		44.2		104.2		85.0
Corporate/Other	—		—		—		—		(30.1)		(30.5)		(52.8)		(55.8)
Segment Eliminations	(118.5)		(92.7)		(239.3)		(196.4)		—		—		—		—
Total	$	1,835.6	$	1,554.8	$	3,531.3	$	2,988.0	$	279.0	$	250.2	$	518.5	$	482.1

	Total Assets
(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Propulsion	$	1,400.0	$	1,225.2	$	1,095.1
Parts & Accessories	3,055.3		2,939.4		1,640.7
Boat	816.4		609.9		564.0
Corporate/Other	894.8		650.5		838.7
Total	$	6,166.5	$	5,425.0	$	4,138.5

Note 9 – Comprehensive Income

Accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets includes foreign currency cumulative translation adjustments; prior service costs and credits and net actuarial gains and losses for defined benefit plans; and unrealized derivative gains and losses, all net of tax. Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three and six months ended July 2, 2022 and July 3, 2021 are as follows:

	Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net earnings	$	197.3	$	179.4	$	371.5	$	348.7
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(32.6)		3.2		(30.5)		(4.3)
Net change in unamortized prior service credits	—		—		—		(0.2)
Net change in unamortized actuarial gains	0.3		0.1		0.5		0.3
Net change in unrealized derivative gains	20.0		1.3		27.6		14.4
Total other comprehensive income	(12.3)		4.6		(2.4)		10.2
Comprehensive income	$	185.0	$	184.0	$	369.1	$	358.9

19

Notes to Condensed Consolidated Financial Statements

(unaudited)

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(32.4)	$	(3.7)	$	(3.2)	$	0.2	$	17.5	$	(21.6)
Other comprehensive (loss) income before reclassifications (A)	(32.6)		—		—		—		25.6		(7.0)
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.3		—		(5.6)		(5.3)
Net other comprehensive income	(32.6)		—		0.3		—		20.0		(12.3)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the three months ended July 2, 2022 were $1.5 million for foreign currency translation and $(9.2) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 2, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the six months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(34.5)	$	(3.7)	$	(3.4)	$	0.2	$	9.9	$	(31.5)
Other comprehensive (loss) income before reclassifications (A)	(30.5)		—		—		—		36.4		5.9
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.5		—		(8.8)		(8.3)
Net other comprehensive (loss) income	(30.5)		—		0.5		—		27.6		(2.4)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the six months ended July 2, 2022 were $3.1 million for foreign currency translation and $(12.7) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 2, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended July 3, 2021:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(22.6)	$	(3.7)	$	(8.7)	$	(2.1)	$	(37.1)
Other comprehensive income (loss) before reclassifications (A)	3.2		—		—		(0.9)		2.3
Amounts reclassified from Accumulated other comprehensive loss (B)	—		—		0.1		2.2		2.3
Net other comprehensive income	3.2		—		0.1		1.3		4.6
Ending balance	$	(19.4)	$	(3.7)	$	(8.6)	$	(0.8)	$	(32.5)

(A) The tax effects for the three months ended July 3, 2021 were $(0.9) million for foreign currency translation and $0.2 million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 3, 2021.

20

Notes to Condensed Consolidated Financial Statements

(unaudited)

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the six months ended July 3, 2021:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(15.1)	$	(3.5)	$	(8.9)	$	(15.2)	$	(42.7)
Other comprehensive (loss) income before reclassifications (A)	(4.3)		—		—		10.1		5.8
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		(0.2)		0.3		4.3		4.4
Net other comprehensive (loss) income	(4.3)		(0.2)		0.3		14.4		10.2
Ending balance	$	(19.4)	$	(3.7)	$	(8.6)	$	(0.8)	$	(32.5)

(A) The tax effects for the six months ended July 3, 2021 were $0.0 million for foreign currency translation and $(3.4) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 3, 2021.

The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and six months ended July 2, 2022 and July 3, 2021:

	Three Months Ended				Six Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		Affected line item in the statement where net income is presented
Amortization of defined benefit items:
Prior service credits	$	—	$	—	$	—	$	0.2	Other income (expense), net
Net actuarial losses	(0.3)		(0.2)		(0.5)		(0.4)		Other income (expense), net
	(0.3)		(0.2)		(0.5)		(0.2)		Earnings before income taxes
	—		0.1		—		0.1		Income tax provision
	$	(0.3)	$	(0.1)	$	(0.5)	$	(0.1)	Net earnings from continuing operations
Amount of (loss) gain reclassified into earnings on derivative contracts:
Interest rate contracts	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)	Interest expense
Foreign exchange contracts	5.3		(4.0)		8.0		(7.1)		Cost of sales
Commodity contracts	2.3		1.2		3.9		1.5		Cost of sales
	7.5		(3.0)		11.8		(5.9)		Earnings before income taxes
	(1.9)		0.8		(3.0)		1.6		Income tax provision
	$	5.6	$	(2.2)	$	8.8	$	(4.3)	Net earnings from continuing operations

21

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 10 – Income Taxes

The Company recognized an income tax provision for the three and six months ended July 2, 2022 of $55.8 million and $102.2 million, respectively. The income tax provision of $55.8 million included a net benefit of $0.7 million primarily associated with tax refunds. The income tax provision of $102.2 million included a net benefit of $3.3 million primarily associated with the net excess tax benefits related to share-based compensation, valuation-allowance adjustments and tax refunds. The Company recognized an income tax provision for the three and six months ended July 3, 2021 of $55.2 million and $102.6 million, respectively, which included a net charge of $6.2 million and $3.2 million, respectively. The net charge of $6.2 million was primarily associated with the restructuring of certain branch operations. The net charge of $3.2 million included the aforementioned branch restructuring charges offset by net excess tax benefits related to share-based compensation and valuation allowance adjustments. The excess tax benefit related to share-based compensation for the three and six months ended July 2, 2022 was $0.1 million and $2.9 million, respectively. The excess tax benefit related to share-based compensation was $0.1 million and $1.6 million for the three and six months ended July 3, 2021, respectively. The effective tax rate, which is calculated as the income tax provision as a percentage of earnings before income taxes, for the three and six months ended July 2, 2022 was 21.9 percent and 21.5 percent, respectively. The effective tax rate for the three and six months ended July 3, 2021 was 23.5 percent and 22.7 percent, respectively.

No deferred income taxes have been provided as of July 2, 2022, December 31, 2021 or July 3, 2021 on the applicable undistributed earnings of the non-U.S. subsidiaries where the indefinite reinvestment assertion has been applied. If at some future date these earnings cease to be indefinitely reinvested and are repatriated, the Company may be subject to additional U.S. income taxes and foreign withholding taxes on such amounts. The Company continues to provide deferred taxes, as required, on the undistributed net earnings of foreign subsidiaries and unconsolidated affiliates that are not deemed to be indefinitely reinvested in operations outside the United States.

As of July 2, 2022, December 31, 2021 and July 3, 2021, the Company had $10.3 million, $10.1 million and $4.6 million of gross unrecognized tax benefits, including interest, respectively. The Company believes it is reasonably possible that the total amount of gross unrecognized tax benefits as of July 2, 2022 could decrease by approximately $0.1 million in the next 12 months due to settlements with taxing authorities or lapses in the applicable statute of limitations. Due to the various jurisdictions in which the Company files tax returns and the uncertainty regarding the timing of the settlement of tax audits, it is possible that there could be significant changes in the amount of unrecognized tax benefits in 2022, but the amount cannot be estimated at this time.

The Company is regularly audited by federal, state and foreign tax authorities. The Internal Revenue Service ("IRS") has completed its field examination and has issued its Revenue Agents Report through the 2014 tax year and all open issues have been resolved. The Company is currently open to tax examinations by the IRS for the 2018 through 2020 tax years. Primarily as a result of filing amended returns, which were generated by the closing of federal income tax audits, the Company is still open to state and local tax audits in major tax jurisdictions dating back to the 2014 taxable year. The Company is no longer subject to income tax examinations by any major foreign tax jurisdiction for years prior to 2013.

22

Notes to Condensed Consolidated Financial Statements

(unaudited)

Note 11 – Debt

The following table provides the changes in the Company's long-term debt for the six months ended July 2, 2022:

(in millions)	Short-term debt and current maturities of long-term debt		Long-term debt		Total
Balance as of December 31, 2021	$	37.4	$	1,779.0	$	1,816.4
Proceeds from issuances of debt	0.9		741.8		742.7
Repayments of long-term debt	(36.2)		(21.8)		(58.0)
Other	0.9		—		0.9
Balance as of July 2, 2022	$	3.0	$	2,499.0	$	2,502.0

As of July 2, 2022, Brunswick was in compliance with the financial covenants associated with its debt.

2032 and 2052 Notes

In March 2022, the Company issued aggregate principal amount of $450.0 million of 4.400% Senior Notes due 2032 (the "2032 Notes") and $300.0 million of 5.100% Senior Notes due 2052 (the "2052 Notes" and, together with the 2032 Notes, the "Notes") in a public offering, which resulted in aggregate net proceeds to the Company of $741.8 million. The Company intends to use the net proceeds from the sale of the Notes for general corporate purposes.

The 2032 Notes bear interest at a rate of 4.400% per year and the 2052 Notes bear interest at a rate of 5.100% per year. Interest on the 2032 Notes is payable semiannually in arrears on March 15 and September 15 of each year, and the first interest payment date will be September 15, 2022. Interest on the 2052 Notes is payable semiannually in arrears on April 1 and October 1 of each year, and the first interest payment date will be October 1, 2022. The 2032 Notes will mature on September 15, 2032, and the 2052 Notes will mature on April 1, 2052.

The Company may redeem the Notes of each series, in whole or in part, at any time and from time to time prior to maturity. If the Company elects to redeem the Notes at any time prior to (i) with respect to the 2032 Notes, June 15, 2032 (the date that is three months prior to the maturity of the 2032 Notes) or (ii) with respect to the 2052 Notes, October 1, 2051 (the date that is six months prior to the maturity of the 2052 Notes), it will pay a “make-whole” redemption price set forth in the Fifth Supplemental Indenture dated as of March 29, 2022 ("Fifth Supplemental Indenture"). On or after June 15, 2032, in the case of the 2032 Notes, or October 1, 2051, in the case of the 2052 Notes, the Company may, at its option, redeem the Notes of each series, in whole or in part at any time and from time to time, at a redemption price equal to 100% of the principal amount thereof. In addition to the redemption price, the Company will pay accrued and unpaid interest, if any, to, but not including, the redemption date.

If the Company experiences a change-of-control triggering event with respect to a series of Notes, as defined in the Fifth Supplemental Indenture, each holder of such series of Notes may require the Company to repurchase some or all of its Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the repurchase date.

23

Notes to Condensed Consolidated Financial Statements

(unaudited)

Term Loan

During the first six months of 2022, the Company made the remaining principal repayments totaling $56.3 million of its 2023 floating-rate term loan. The term loan was redeemed at 100 percent of the principal amount plus accrued interest, in accordance with the redemption provisions of the term loan. The Company recognized a loss on early extinguishment of debt of $0.1 million related to the term loan redemption.

Credit Facility

The Company maintains a Revolving Credit Agreement ("Credit Facility"). In March 2022, the Company amended its Credit Facility with certain wholly-owned subsidiaries of the Company as subsidiary borrowers and lenders as parties, and JPMorgan Chase Bank, N.A., as administrative agent. This amends and restates the Credit Facility, dated as of March 21, 2011, as amended and restated on July 16, 2021. The amended Credit Facility increases the revolving commitments to $750.0 million, with the capacity to add up to $100.0 million of additional revolving commitments, and amends the Credit Facility in certain respects, including, among other things:

•Extending the maturity date to March 31, 2027, with up to two one-year extensions available.

•Transitioning the reference rate for loans denominated in U.S. dollars from the London interbank offered rate ("LIBOR") to the term Secured Overnight Financing Rate ("SOFR"), with a credit spread adjustment of 10 basis points to be added to the reference rate for borrowings of U.S. dollar loans for each interest period.

During the first six months of 2022, gross borrowings under the Credit Facility totaled $125.0 million. As of July 2, 2022 there were no borrowings outstanding, and available borrowing capacity totaled $747.2 million, net of $2.8 million of letters of credit outstanding, under the Credit Facility. The maximum amount utilized under the Credit Facility during the six months ended July 2, 2022, including letters of credit outstanding under the Credit Facility, was $127.8 million. There were no borrowings under the Credit Facility during the six months ended July 3, 2021. Refer to Note 16 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for details regarding Brunswick's Credit Facility.

Commercial Paper

In December 2019, the Company entered into an unsecured commercial paper program ("CP Program") pursuant to which the Company may issue short-term, unsecured commercial paper notes ("CP Notes"). During the second quarter of 2022, the Company increased the size of its CP Program to allow the issuance of CP Notes in an aggregate principal amount not to exceed $500.0 million outstanding at any time. The CP Program previously allowed the Company to issue CP Notes in an aggregate principal amount not to exceed $300.0 million outstanding at any time. Amounts available under the CP Program may be borrowed, repaid and re-borrowed from time to time, with the aggregate principal amount of CP Notes outstanding under the CP Program at any time not exceeding the lower of $500.0 million or the available borrowing amount under the Credit Facility. Refer to Note 16 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for details regarding Brunswick's CP Program. During the first six months of 2022, borrowings under the CP Program totaled $500.0 million, all of which were repaid during the period. During the six months ended July 2, 2022, the maximum amount utilized under the CP Program was $300.0 million.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Certain statements in Management's Discussion and Analysis of Financial Condition and Results of Operations of Brunswick Corporation (the Company, we, us, our) are forward-looking statements. Forward-looking statements are based on current expectations, estimates, and projections about our business and by their nature address matters that are, to different degrees, uncertain. Actual results may differ materially from expectations and projections as of the date of this filing due to various risks and uncertainties. For additional information regarding forward-looking statements, refer to Forward-Looking Statements below.

Certain statements in Management's Discussion and Analysis are based on non-GAAP financial measures. GAAP refers to generally accepted accounting principles in the United States. A "non-GAAP financial measure" is a numerical measure of a registrant’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the consolidated statements of operations, balance sheets or statements of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. For example, the discussion of our cash flows includes an analysis of free cash flows and total liquidity; the discussion of our net sales includes net sales on a constant currency basis; the discussion of our net sales includes net sales excluding acquisitions; the discussion of our earnings includes a presentation of operating earnings and operating margin excluding restructuring, exit and impairment charges, purchase accounting amortization, acquisition-related costs and other applicable charges and of diluted earnings per common share, as adjusted. Non-GAAP financial measures do not include operating and statistical measures.

We include non-GAAP financial measures in Management's Discussion and Analysis as management believes these measures and the information they provide are useful to investors because they permit investors to view our performance using the same tools that management uses to evaluate our ongoing business performance. In order to better align our reported results with the internal metrics management uses to evaluate business performance as well as to provide better comparisons to prior periods and peer data, non-GAAP measures exclude the impact of purchase accounting amortization related to acquisitions, among other adjustments.

We do not provide forward-looking guidance for certain financial measures on a GAAP basis because we are unable to predict certain items contained in the GAAP measures without unreasonable efforts. These items may include restructuring, exit and impairment costs, special tax items, acquisition-related costs, and certain other unusual adjustments.

Impact of COVID-19

The full extent of the impact of COVID-19 on our business, operations, and financial results will depend on evolving factors that we cannot accurately predict. We will continue to actively monitor the impact of COVID-19 and may take further actions that alter business operations as legally required, or that we determine are in the best interests of our employees, customers, dealers, suppliers, and other stakeholders. All global manufacturing and distribution facilities remain focused on rigorously applying, evolving, and automating COVID-19 mitigation procedures. Refer to Part I. Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the fiscal year 2021 (the 2021 Form 10-K) for further information.

Impact of Russia-Ukraine Conflict

We continue to monitor the conflict in Ukraine and the potential impact to our operations. Our cessation of business in Russia, Belarus, Crimea and the disputed territories has not had a significant financial impact on our business.

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Acquisitions

During the second quarter of 2022, we acquired certain Freedom Boat Club franchise operations and territory rights as well as certain marine assets in the Southeast United States for net cash consideration of $95.7 million. Refer to Note 3 –  Acquisitions in the Notes to Condensed Consolidated Financial Statements for further information.

On October 4, 2021, we completed the acquisition of Navico for $1.094 billion net cash consideration. Navico was a privately held global company based in Egersund, Norway and is a global leader in marine electronics and sensors, including multi-function displays, fish finders, autopilots, sonar, radar, and cartography. We also completed the acquisitions of substantially all the net assets of RELiON Battery, LLC, SemahTronix, LLC, Fanautic Club, and certain Freedom Boat Club franchise operations and territory rights in the United States during 2021 for net cash consideration of $66.2 million. Refer to Note 3 –  Acquisitions in the Notes to Condensed Consolidated Financial Statements for further information.

Overview

Net sales increased 18 percent during the second quarter of 2022 when compared with the second quarter of 2021. All segments contributed to the strong performance and reported substantial net sales increases despite ongoing supply chain disruptions and macro volatility. The propulsion segment continues to expand its outboard propulsion retail market share around the globe, led by gains in high-horsepower categories. Our parts and accessories businesses delivered strong sales growth, as benefits from acquisitions completed in 2021, steady engine P&A sales in the U.S., and strong OEM sales from our Advanced Systems Group helped to offset headwinds related to early-quarter poor weather in certain northern locations, supply chain constraints in our third-party distribution businesses, and retailers returning to more normal stocking patterns. Our Boat segment posted robust top-line growth when compared to the second quarter of 2021 with all product categories contributing favorably to the performance. Our international net sales increased 10 percent and 17 percent in the second quarter on a GAAP and constant currency basis, respectively, with all regions contributing to the increase.

Net sales increased 18 percent during the first half of 2022, when compared with the first half of 2021, due to the same factors described above. Our international net sales increased 15 percent and 20 percent in the first half on a GAAP and constant currency basis, respectively, with growth in all regions.

Operating earnings in the second quarter of 2022 were $279.0 million and $300.2 million on a GAAP and As Adjusted basis, respectively. This compares to operating earnings during the second quarter of 2021 of $250.2 million and $266.4 million on a GAAP and an As Adjusted basis, respectively.

Operating earnings in the first half of 2022 were $518.5 million and $567.7 million on a GAAP and As Adjusted basis, respectively. This compares to operating earnings during the first half of 2021 of $482.1 million and $509.4 million on a GAAP and an As Adjusted basis, respectively.

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Matters Affecting Comparability

Changes in Foreign Currency Rates. Percentage changes in net sales expressed in constant currency reflect the impact that changes in currency exchange rates had on comparisons of net sales. To determine this information, net sales transacted in currencies other than the U.S. dollar have been translated to U.S. dollars using the average exchange rates that were in effect during the comparative period. The percentage change in net sales expressed on a constant currency basis better reflects the changes in the underlying business trends, excluding the impact of translation arising from foreign currency exchange-rate fluctuations. Approximately 25 percent of our annual net sales are transacted in a currency other than the U.S. dollar. Our most material exposures include sales in Euros, Canadian dollars, Australian dollars, and Brazilian real.

The table below summarizes the impact of changes in currency exchange rates and also the impact of acquisitions on our net sales:

	Three Months Ended										Six Months Ended
	Net Sales				2022 vs. 2021						Net Sales				2022 vs. 2021
(in millions)	July 2, 2022		July 3, 2021		GAAP		Currency Impact		Acquisition Benefit		July 2, 2022		July 3, 2021		GAAP		Currency Impact		Acquisition Benefit
Propulsion	$	734.2	$	649.5	13.0	%	(2.8)	%	—	%	$	1,440.1	$	1,307.3	10.2	%	(2.0)	%	—	%
Parts & Accessories	651.5		548.9		18.7	%	(2.2)	%	22.9	%	1,269.3		1,008.5		25.9	%	(1.8)	%	27.4	%
Boat	568.4		449.1		26.6	%	(1.9)	%	3.8	%	1,061.2		868.6		22.2	%	(1.4)	%	2.4	%
Segment Eliminations	(118.5)		(92.7)		27.8	%	(1.1)	%	7.0	%	(239.3)		(196.4)		21.8	%	(0.8)	%	5.0	%
Total	$	1,835.6	$	1,554.8	18.1	%	(2.4)	%	8.8	%	$	3,531.3	$	2,988.0	18.2	%	(1.9)	%	9.5	%

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Table of Contents

Results of Operations

Consolidated

The following table sets forth certain amounts, ratios and relationships calculated from the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended:

	Three Months Ended						2022 vs. 2021				Six Months Ended						2022 vs. 2021
(in millions, except per share data)	July 2, 2022			July 3, 2021			$ Change		% Change		July 2, 2022			July 3, 2021			$ Change		% Change
Net sales	$	1,835.6		$	1,554.8		$	280.8	18.1%		$	3,531.3		$	2,988.0		$	543.3	18.2%
Gross margin(A)	536.4			461.5			74.9		16.2%		1,020.0			878.8			141.2		16.1%
Restructuring, exit and impairment charges	—			0.2			(0.2)		NM		—			0.7			(0.7)		NM
Operating earnings	279.0			250.2			28.8		11.5%		518.5			482.1			36.4		7.6%
Net earnings from continuing operations	198.8			179.4			19.4		10.8%		372.8			348.8			24.0		6.9%
Diluted earnings per common share from continuing operations	$	2.61		$	2.29		$	0.32	14.0%		$	4.86		$	4.44		$	0.42	9.5%
Expressed as a percentage of Net sales:
Gross margin (A)	29.2		%	29.7		%			(50)	bps	28.9		%	29.4		%			(50)	bps
Selling, general and administrative expense	11.3		%	11.2		%			10	bps	11.3		%	10.9		%			40	bps
Research and development expense	2.7		%	2.4		%			30	bps	2.9		%	2.4		%			50	bps
Operating margin	15.2		%	16.1		%			(90)	bps	14.7		%	16.1		%			(140)	bps

bps = basis points

NM = not meaningful

(A)Gross margin is defined as Net sales less Cost of sales as presented in the Condensed Consolidated Statements of Comprehensive Income.

The following is a summary of Adjusted operating earnings and Adjusted diluted earnings per common share from continuing operations for the three and six months ended July 2, 2022 when compared with the same prior year comparative period:

	Three Months Ended										Six Months Ended
	Operating Earnings						Diluted Earnings (Loss) Per Share				Operating Earnings						Diluted Earnings (Loss) Per Share
(in millions, except per share data)	July 2, 2022			July 3, 2021			July 2, 2022		July 3, 2021		July 2, 2022			July 3, 2021			July 2, 2022		July 3, 2021
GAAP	$	279.0		$	250.2		$	2.61	$	2.29	$	518.5		$	482.1		$	4.86	$	4.44
Restructuring, exit, and impairment charges	—			0.2			—		—		—			0.7			—		—
Purchase accounting amortization	14.1			7.6			0.14		0.08		37.1			15.1			0.37		0.15
Acquisition, integration, and IT related costs	7.1			7.1			0.07		0.07		12.1			8.4			0.12		0.08
Sport Yacht & Yachts	—			1.3			—		0.01		—			3.8			—		0.04
Palm Coast reclassified from held-for-sale	—			—			—		—		—			0.8			—		0.01
Gain on sale of assets	—			—			—		—		—			(1.5)			—		(0.01)
Special tax items	—			—			—		0.07		—			—			—		0.05
As Adjusted	$	300.2		$	266.4		$	2.82	$	2.52	$	567.7		$	509.4		$	5.35	$	4.76
GAAP operating margin	15.2		%	16.1		%					14.7		%	16.1		%
Adjusted operating margin	16.4		%	17.1		%					16.1		%	17.0		%

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Net sales increased 18 percent during both the second quarter and first half of 2022, when compared with the same prior year period with all segments benefiting from the implementation of higher prices, partially offset by unfavorable changes in foreign currency exchange rates. Refer to the Propulsion, Parts & Accessories, and Boat segments for further details on the drivers of net sales changes.

Gross margin percentage decreased 50 basis points in both the second quarter and first half of 2022 when compared with the same prior year period, with inflationary pressures, supply chain inefficiencies and unfavorable changes in foreign currency exchange rates more than offsetting increased sales across all segments.

Selling, general and administrative expense (SG&A) increased during the second quarter and first half of 2022 when compared with the same prior year period, primarily due to the businesses acquired during 2021. Excluding certain one-time items presented above, SG&A as a percentage of sales was higher in the second quarter and first half of 2022 compared with the same prior year period, reflecting the impact of 2021 acquisitions, increased spending on sales and marketing, ACES ("Autonomy, Connectivity, Electrification, and Shared access") programs, and other growth initiatives, partially offset by increased net sales. Research and development expense increased in 2022 versus 2021, reflecting continued investment in new products in all segments.

We did not record any restructuring, exit and impairment charges during the three and six months ended July 2, 2022 and recorded $0.2 million and $0.7 million during the three and six months ended July 3, 2021, respectively.

We recorded Equity earnings of $0.7 million and $1.5 million in the three and six months ended July 2, 2022, respectively, which were mainly related to our marine and technology-related joint ventures. This compares with Equity earnings of $0.4 million and $1.2 million in the three and six months ended July 3, 2021, respectively.

We recognized $0.3 million and $(1.2) million in Other expense, net in the three and six months ended July 2, 2022, respectively. This compares with $(1.5) million and $(2.8) million recognized in Other expense, net in the three and six months ended July 3, 2021, respectively. Other expense, net primarily includes remeasurement gains and losses resulting from changes in foreign currency rates and other postretirement benefit costs.

Net interest expense increased for the three and six months ended July 2, 2022 when compared with the same prior year period due to an increase in average daily debt outstanding, which was influenced by the timing of debt issuances. Refer to Note 11 – Debt in the Notes to Condensed Consolidated Financial Statements in the 2021 Form 10-K.

We recognized an income tax provision for the three and six months ended July 2, 2022 of $55.8 million and $102.2 million, respectively, compared to $55.2 million and $102.6 million for the three and six months ended July 3, 2021, respectively.

The effective tax rate, which is calculated as the income tax provision as a percentage of earnings before income taxes, for the three and six months ended July 2, 2022 was 21.9 percent and 21.5 percent, respectively. The effective tax rate for the three and six months ended July 3, 2021 was 23.5 percent and 22.7 percent, respectively.

Due to the factors described in the preceding paragraphs, operating earnings, net earnings from continuing operations, and diluted earnings per common share from continuing operations increased during the second quarter and first half of 2022 when compared with the same prior-year period.

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Propulsion Segment

The following table sets forth Propulsion segment results for the three and six months ended:

	Three Months Ended						2022 vs. 2021				Six Months Ended						2022 vs. 2021
(in millions)	July 2, 2022			July 3, 2021			$ Change		% Change		July 2, 2022			July 3, 2021			$ Change		% Change
Net sales	$	734.2		$	649.5		$	84.7	13.0	%	$	1,440.1		$	1,307.3		$	132.8	10.2	%
Operating earnings	142.0			122.1			19.9		16.3	%	267.3			246.6			20.7		8.4	%
Operating margin	19.3		%	18.8		%			50	bps	18.6		%	18.9		%			(30)	bps

bps = basis points

Propulsion segment net sales increased $84.7 million, or 13 percent, in the second quarter of 2022 compared to the second quarter of 2021 as continued strong global demand for all product categories resulted in increased sales volume which continues to be enabled by increased production levels.

Propulsion segment net sales increased $132.8 million, or 10 percent, in the first half of 2022 versus prior year as a result of the same factors described above.

International sales were 34 percent of the segment's net sales in the second quarter of 2022 and increased 2 percent from the prior year on a GAAP basis. On a constant currency basis, international net sales increased 10 percent, with increases across all regions except Asia-Pacific due to strong performance in the comparable prior period. International sales were 35 percent of the segment's net sales in the first half of 2022 and increased 5 percent from the prior year on a GAAP basis. On a constant currency basis, international sales increased 10 percent in the first half of 2022, with increases across all regions except Asia-Pacific due to the same factor noted above.

Propulsion segment operating earnings in the second quarter of 2022 were $142.0 million, an increase of 16 percent when compared to the second quarter of 2021, as a result of increased sales, operating efficiencies and lower operating expenses, slightly offset by investments in capacity and product development. Operating earnings for the first half of 2022 were $267.3 million, an increase of 8 percent, as a result of the same factors described above.

Parts & Accessories Segment

The following table sets forth P&A segment results for the three and six months ended:

	Three Months Ended						2022 vs. 2021				Six Months Ended						2022 vs. 2021
(in millions)	July 2, 2022			July 3, 2021			$ Change		% Change		July 2, 2022			July 3, 2021			$ Change		% Change
Net sales	$	651.5		$	548.9		$	102.6	18.7	%	$	1,269.3		$	1,008.5		$	260.8	25.9	%
GAAP operating earnings	$	108.2		$	114.4		$	(6.2)	(5.4	%)	$	199.8		$	206.3		$	(6.5)	(3.2	%)
Restructuring, exit and impairment charges	—			0.2			(0.2)		(100.0	%)	—			0.7			(0.7)		(100.0	%)
Purchase accounting amortization	13.4			7.2			6.2		86.1	%	35.8			14.4			21.4		148.6	%
Acquisition, integration, and IT related costs	5.3			5.8			(0.5)		(8.6	%)	7.9			5.8			2.1		36.2 %
Gain on sale of assets	—			—			—		NM		—			(1.5)			1.5		(100.0	%)
Adjusted operating earnings	$	126.9		$	127.6		$	(0.7)	(0.5	%)	$	243.5		$	225.7		$	17.8	7.9	%
GAAP operating margin	16.6		%	20.8		%			(420)	bps	15.7		%	20.5		%			(480)	bps
Adjusted operating margin	19.5		%	23.2		%			(370)	bps	19.2		%	22.4		%			(320)	bps

NM = not meaningful

bps = basis points

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P&A segment net sales increased $102.6 million, or 19 percent in the second quarter of 2022 versus the second quarter of 2021 due in large part to the acquisitions of Navico, RELiON, and SemahTronix. Excluding the impact from acquisitions, P&A revenues were down 4 percent. While sales for our U.S engine P&A and core ASG sales were up quarter over quarter, sales in our lower margin distribution businesses were negatively impacted by third-party product availability and the aftermarket product businesses outside the U.S. Supply chain constraints were particularly acute in international regions, with U.S. sales also impacted by a slower start to the boating season in northern markets due to unfavorable weather conditions.

P&A segment net sales increased $260.8 million, or 26 percent, in the first half of 2022 versus prior year as a result of the same factors described above.

International sales were 32 percent of the P&A segment's net sales in the second quarter of 2022 and increased 32 percent year over year on a GAAP basis. On a constant currency basis, international net sales increased 39 percent, with increases across all regions. International sales were 33 percent of the P&A segment's net sales in the first half of 2022 and increased 37 percent year over year on a GAAP basis. On a constant currency basis, international sales increased 43 percent in the first half of 2022, with increases across all regions.

P&A segment operating earnings in the second quarter of 2022 were $108.2 million, a decrease of 5 percent compared to the second quarter of 2021 with benefits from acquisitions being offset by the sales factors described above, as well as outsized material and freight inflation. Operating earnings for the first half of 2022 were $199.8 million, a decrease of 3 percent, as a result of the same factors described above.

Boat Segment

The following table sets forth Boat segment results for the three and six months ended:

	Three Months Ended						2022 vs. 2021				Six Months Ended						2022 vs. 2021
(in millions)	July 2, 2022			July 3, 2021			$ Change		% Change		July 2, 2022			July 3, 2021			$ Change		% Change
Net sales	$	568.4		$	449.1		$	119.3	26.6	%	$	1,061.2		$	868.6		$	192.6	22.2	%
GAAP operating earnings	$	58.9		$	44.2		$	14.7	33.3	%	$	104.2		$	85.0		$	19.2	22.6	%
Acquisition, integration, and IT related costs	1.8			1.3			0.5		38.5	%	4.2			2.6			1.6		61.5	%
Purchase accounting amortization	0.7			0.4			0.3		75.0	%	1.3			0.7			0.6		85.7	%
Sport Yacht & Yachts	—			1.3			(1.3)		(100.0	%)	—			3.8			(3.8)		(100.0	%)
Palm Coast reclassified from held-for-sale	—			—			—		NM		—			0.8			(0.8)		(100.0	%)
Adjusted operating earnings	$	61.4		$	47.2		$	14.2	30.1	%	$	109.7		$	92.9		$	16.8	18.1	%
GAAP operating margin	10.4		%	9.8		%			60	bps	9.8		%	9.8		%			—	bps
Adjusted operating margin	10.8		%	10.5		%			30	bps	10.3		%	10.7		%			(40)	bps

NM = not meaningful

bps = basis points

Boat segment net sales increased $119.3 million, or 27 percent, in the second quarter of 2022 versus the second quarter of 2021 due to increased sales volumes to dealers.

Boat segment net sales increased $192.6 million, or 22 percent, in the first half of 2022, resulting from the same factor described above.

International sales were 26 percent of the segment's net sales in the second quarter of 2022 and increased 8 percent on a GAAP basis. On a constant currency basis, international sales increased 14 percent, with increases across all regions. International sales were 25 percent of the segment's net sales in the first half of 2022 and increased 11 percent on a GAAP basis. On a constant currency basis, international sales increased 17 percent in the first half of 2022, with increases across all regions.

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Boat segment operating earnings in the second quarter of 2022 were $58.9 million, an increase of $14.7 million when compared to the second quarter of 2021, due to increased sales together with operational efficiencies. The increase was partially offset by inefficiencies resulting from supply chain disruptions, inflationary pressures and the production ramp-up of the new Boston Whaler Flagler facility which will be substantially complete by the end of the third quarter. Operating earnings in the first half of 2022 were $104.2 million, an increase of 23 percent, as a result of the same factors described above.

Corporate/Other

The following table sets forth Corporate/Other results for the three and six months ended:

	Three Months Ended				2022 vs. 2021				Six Months Ended				2022 vs. 2021
(in millions)	July 2, 2022		July 3, 2021		$ Change		% Change		July 2, 2022		July 3, 2021		$ Change		% Change
Operating loss	$	(30.1)	$	(30.5)	$	0.4	(1.3	%)	$	(52.8)	$	(55.8)	$	3.0	(5.4	%)

Corporate operating expenses in the second quarter of 2022 were $30.1 million, a decrease of $0.4 million when compared to the second quarter of 2021, primarily due to a decrease in variable compensation expense and favorable mark-to-market adjustments for deferred compensation arrangements, partially offset by an increase in investments in enterprise growth initiatives.

Corporate operating expenses decreased 5 percent in the first half of 2022 versus 2021, resulting from the same factors described above.

Cash Flow, Liquidity and Capital Resources

The following table sets forth an analysis of free cash flow for the six months ended:

(in millions)	July 2, 2022		July 3, 2021
Net cash provided by operating activities of continuing operations	$	149.4	$	350.5
Net cash (used for) provided by:
Plus: Capital expenditures	(196.5)		(110.3)
Plus: Proceeds from the sale of property, plant and equipment	3.0		4.6
Plus: Effect of exchange rate changes	(11.2)		(0.5)
Total free cash flow (A)	$	(55.3)	$	244.3

(A) We define "Free cash flow" as cash flow from operating and investing activities of continuing operations (excluding cash provided by or used for acquisitions, investments, purchases or sales/maturities of marketable securities and other investing activities) and the effect of exchange rate changes on cash and cash equivalents. Free cash flow is not intended as an alternative measure of cash flow from operations, as determined in accordance with GAAP in the United States. We use this financial measure both in presenting our results to shareholders and the investment community and in our internal evaluation and management of our businesses. Management believes that this financial measure and the information it provides are useful to investors because it permits investors to view our performance using the same tool that management uses to gauge progress in achieving its goals. Management believes that the non-GAAP financial measure "Free cash flow" is also useful to investors because it is an indication of cash flow that may be available to fund investments in future growth initiatives.

Our major sources of funds for capital investments, acquisitions, share-repurchase programs and dividend payments are cash generated from operating activities, available cash and marketable securities balances, divestitures and borrowings. We evaluate potential acquisitions, divestitures and joint ventures in the ordinary course of business.

2022 Cash Flow

Net cash provided by operating activities of continuing operations in the first six months of 2022 totaled $149.4 million versus $350.5 million in the comparable period of 2021. The decrease is primarily due to increases in working capital, partially offset by higher net earnings during the quarter.

The primary drivers of net cash provided by operating activities of continuing operations in the first six months of 2022 were net earnings, net of non-cash items, partially offset by increases in working capital. Working capital is

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defined as Accounts and notes receivable, Inventories and Prepaid expenses and other, net of Accounts payable and Accrued expenses as presented in the Condensed Consolidated Balance Sheets, excluding the impact of acquisitions and non-cash adjustments. Accounts and notes receivable increased $125.1 million, primarily due to increased sales across all segments. Inventory increased $162.3 million, driven primarily by increases in work-in-process and raw materials to support higher production volumes. Accrued expenses decreased $30.9 million, primarily driven by payment of prior year variable compensation which had been accrued as of December 31, 2021.

Net cash used for investing activities of continuing operations was $312.7 million, which included $196.5 million of capital expenditures, $95.7 million of cash paid for acquisitions, net of cash acquired and $36.2 million of purchases of marketable securities, partially offset by $16.7 million of cross-currency swap settlements. Our capital spending was focused on investments in capacity expansion, new products, and technologies.

Net cash provided by financing activities was $388.9 million and primarily related to proceeds of issuances of long-term debt, partially offset by common stock repurchases, payments of long-term debt including current maturities, and cash dividends paid to common shareholders. Refer to Note 11 – Debt in the Notes to Condensed Consolidated Financial Statements for further details on our debt activity during the quarter.

2021 Cash Flow

Net cash provided by operating activities of continuing operations in the first six months of 2021 totaled $350.5 million. The primary drivers of net cash provided by operating activities of continuing operations in 2021 were net earnings, net of non-cash items, partially offset by the seasonal impact of increasing working capital. Accounts and notes receivable increased $167.5 million primarily due to increased sales across all segments. Inventory increased $129.9 million, driven by increases to support higher production volumes. Accounts payable increased $129.8 million primarily due to timing of payments and higher inventory levels across all reportable segments. Accrued expenses increased $42.1 million primarily driven by increases in program-related volume discounts and rebates.

Net cash used for investing activities of continuing operations was $75.6 million, which primarily included capital expenditures of $110.3 million, offset by sales of marketable securities of $55.9 million. Our capital spending was focused on investments in new products and technologies.

Net cash used for financing activities was $195.7 million and primarily related to payments of long-term debt including current maturities, common stock repurchases, and cash dividends paid to common shareholders. Refer to Note 11 – Debt in the Notes to Condensed Consolidated Financial Statements for further details on our debt activity during the quarter.

Liquidity and Capital Resources

We view our highly liquid assets as of July 2, 2022, December 31, 2021 and July 3, 2021 as:

(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Cash and cash equivalents	$	566.7	$	354.5	$	590.2
Short-term investments in marketable securities	37.0		0.8		0.8
Total cash, cash equivalents and marketable securities	$	603.7	$	355.3	$	591.0

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The following table sets forth an analysis of total liquidity as of July 2, 2022, December 31, 2021 and July 3, 2021:

(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Cash, cash equivalents and marketable securities	$	603.7	$	355.3	$	591.0
Amounts available under lending facility (A)	747.2		497.2		397.2
Total liquidity (B)	$	1,350.9	$	852.5	$	988.2

(A) See Note 11 – Debt in the Notes to Condensed Consolidated Financial Statements for further details on our lending facility.

(B) We define Total liquidity as Cash and cash equivalents and Short-term investments in marketable securities as presented in the Condensed Consolidated Balance Sheets, plus amounts available for borrowing under its lending facilities. Total liquidity is not intended as an alternative measure to Cash and cash equivalents and Short-term investments in marketable securities as determined in accordance with GAAP in the United States. We use this financial measure both in presenting our results to shareholders and the investment community and in our internal evaluation and management of our businesses. Management believes that this financial measure and the information it provides are useful to investors because it permits investors to view our performance using the same metric that management uses to gauge progress in achieving our goals. Management believes that the non-GAAP financial measure “Total liquidity” is also useful to investors because it is an indication of our available highly liquid assets and immediate sources of financing.

Cash, cash equivalents and marketable securities totaled $603.7 million as of July 2, 2022, an increase of $248.4 million from $355.3 million as of December 31, 2021, and an increase of $12.7 million from $591.0 million as of July 3, 2021. Total debt as of July 2, 2022, December 31, 2021 and July 3, 2021 was $2,502.0 million, $1,816.4 million and $875.5 million, respectively. Our debt-to-capitalization ratio was 56 percent as of July 2, 2022, an increase from 49 percent as of December 31, 2021 and from 33 percent as of July 3, 2021.

We borrowed $125.0 million under the Credit Facility during the first half of 2022, all of which was repaid and thus we did not have any borrowings outstanding under the Credit Facility as of July 2, 2022. Available borrowing capacity under the Credit Facility totaled $747.2 million, net of $2.8 million of letters of credit outstanding. During the first half of 2022, the maximum amount utilized under the CP Program was $300.0 million. Refer to Note 11 – Debt in the Notes to Condensed Consolidated Financial Statements and Note 16 - Debt in the Notes to Consolidated Financial Statements in the 2021 Form 10-K, for further details.

The level of borrowing capacity under our Credit Facility and CP Program is limited by both a leverage and interest coverage test. These covenants also pertain to termination provisions included in our wholesale financing joint-venture arrangements with Wells Fargo Distribution Finance. Based on our anticipated earnings generation throughout the year, we expect to maintain sufficient cushion against the existing debt covenants.

2022 Capital Strategy

We continue to plan for capital expenditures in the range of $375 million to $425 million to support growth initiatives throughout our organization. Our estimate of full year interest expense remains at approximately $95 million. On July 19, 2022, our Board of Directors approved a $500 million increase to our share repurchase authorization. Our authorization remaining is now in excess of $600 million. Our decision to accelerate share repurchases to take advantage of current market and sector value dislocation will result in total targeted share repurchases for 2022 of approximately $400 million, lowering our average diluted shares outstanding for the year to between 75.0 million and 75.5 million shares. Additionally, we anticipate a higher build in working capital for the year, primarily related to our businesses holding higher levels of inventory to support production levels.

Financing Joint Venture

On March 10, 2021, through our Brunswick Financial Services Corporation subsidiary, we entered into an amended and restated joint venture agreement with Wells Fargo Commercial Distribution Finance to extend the term of our financial services joint venture, Brunswick Acceptance Company, LLC (BAC), through December 31, 2025. The amendment did not otherwise materially change the terms of the agreement. BAC is detailed further in the 2021 Form 10-K.

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Off-Balance Sheet Arrangements and Contractual Obligations

Our off-balance sheet arrangements and contractual obligations as of December 31, 2021 are detailed in the 2021 Form 10-K. There have been no material changes in these arrangements and obligations outside the ordinary course of business since December 31, 2021.

Environmental Regulation

There were no material changes in our environmental regulatory requirements since the filing of our 2021 Form 10-K.

Critical Accounting Policies

There were no material changes in our critical accounting policies since the filing of our 2021 Form 10-K.

As discussed in the 2021 Form 10-K, the preparation of the consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amount of reported assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements, and revenues and expenses during the periods reported. Actual results may differ from those estimates.

Recent Accounting Pronouncements

Recent accounting pronouncements that have been adopted during the three months ended July 2, 2022, or will be adopted in future periods, are included in Note 1 – Significant Accounting Policies in the Notes to Condensed Consolidated Financial Statements.

Forward-Looking Statements

Certain statements in this Quarterly Report on Form 10-Q are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as "may," "could," "should," "expect," "anticipate," "project," "position," "intend," "target," "plan," "seek," "estimate," "believe," "predict," "outlook," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this quarterly report. These risks include, but are not limited to: the effect of adverse general economic conditions, including the amount of disposable income consumers have available for discretionary spending; fiscal and monetary policy concerns; adverse capital market conditions; changes in currency exchange rates; higher energy and fuel costs; competitive pricing pressures; interest-rate risk related to our debt; the coronavirus (COVID-19) pandemic and the emergence of variant strains; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a result of pressures due to the pandemic; supplier manufacturing constraints, increased demand for shipping carriers, and transportation disruptions; managing our manufacturing footprint; adverse weather conditions, climate change events and other catastrophic event risks; international business risks, geopolitical tensions or conflicts, sanctions, embargoes, or other regulations; our ability to develop new and innovative products and services at a competitive price; our ability to meet demand in a rapidly changing environment; loss of key customers; absorbing fixed costs in production; risks associated with joint ventures that do not operate solely for our benefit; our ability to integrate acquisitions, including Navico, and the risk for associated disruption to our business; the risk that unexpected costs will be incurred in connection with the Navico transaction or the possibility that the expected synergies and value creation from the transaction will not be realized or will not be realized within the expected time period; our ability to successfully implement our strategic plan and growth initiatives; attracting and retaining skilled labor, implementing succession plans for key leadership, and executing organizational and leadership changes; our ability to identify, complete, and integrate targeted acquisitions; the risk that strategic divestitures will not provide business benefits; maintaining effective distribution; risks related to dealers and customers being able to access adequate financing; requirements for us to repurchase inventory; inventory reductions by dealers, retailers, or independent boat builders; risks related to the Freedom Boat Club franchise business model; outages, breaches, or other cybersecurity events regarding our technology systems, which could affect manufacturing and business operations and could result in lost or stolen information and associated remediation costs; our ability to protect our brands and intellectual property; changes to U.S. trade policy and tariffs; any impairment to the value of goodwill and other assets; product liability, warranty, and other claims risks; legal, environmental, and other regulatory compliance, including increased costs, fines, and

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reputational risks; changes in income tax legislation or enforcement; managing our share repurchases; and risks associated with certain divisive shareholder activist actions.

Additional risk factors are included in the 2021 Form 10-K. Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from changes in foreign currency exchange rates, interest rates and commodity prices. We enter into various hedging transactions to mitigate these risks in accordance with guidelines established by our management. We do not use financial instruments for trading or speculative purposes. Our risk management objectives are described in Note 4 – Financial Instruments in the Notes to Condensed Consolidated Financial Statements and Note 14 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K.

There have been no significant changes to our market risk since December 31, 2021. For a discussion of exposure to market risk, refer to Part II, Item 7A – Quantitative and Qualitative Disclosures about Market Risk, set forth in the 2021 Form 10-K.

Item 4.  Controls and Procedures

Under the supervision and with the participation of our management, including the Chief Executive Officer and the Chief Financial Officer (our principal executive officer and principal financial officer, respectively), we have evaluated our disclosure controls and procedures (as defined in Securities Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this Quarterly Report. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting during the fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1A.  Risk Factors

There have been no material changes from the risk factors previously disclosed in Part I, "Item 1A. Risk Factors" in our 2021 Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

During the first six months of 2022, we repurchased $220.0 million of stock, and as of July 2, 2022, the remaining authorization was $126.4 million.

We repurchased the following shares of common stock during the three months ended July 2, 2022:

Period	Total Number of Shares Purchased	Weighted Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Maximum Amount of Dollars that May Yet Be Used to Purchase Shares Under the Program
April 3 to April 30	130,851	$	76.42	130,851
May 1 to May 28	1,217,460	76.24		1,217,460
May 29 to July 2	540,094	69.20		540,094
Total	1,888,405	$	74.24	1,888,405	$	126,441,195

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Item 6.    Exhibits

31.1	Certification of CEO Pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of CFO Pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of CEO Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of CFO Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BRUNSWICK CORPORATION
August 2, 2022	By:	/s/ RANDALL S. ALTMAN
		Randall S. Altman
		Senior Vice President and Controller*

*Mr. Altman is signing this report both as a duly authorized officer and as the principal accounting officer.

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EX-31.1

Exhibit 31.1

Certification Pursuant to

Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, David M. Foulkes, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Brunswick Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	BRUNSWICK CORPORATION
August 2, 2022	By:	/s/ DAVID M. FOULKES
		David M. Foulkes
		Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification Pursuant to

Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Amended

I, Ryan M. Gwillim, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Brunswick Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	BRUNSWICK CORPORATION
August 2, 2022	By:	/s/ RYAN M. GWILLIM
		Ryan M. Gwillim
		Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Certification Pursuant to Section 1350 of Chapter 63

of Title 18 of the United States Code

I, David M. Foulkes, Chief Executive Officer of Brunswick Corporation, certify that: (i) Brunswick Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended July 02, 2022 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (ii) the information contained in Brunswick Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended July 02, 2022 fairly presents, in all material respects, the financial condition and results of operations of Brunswick Corporation.

	BRUNSWICK CORPORATION
August 2, 2022	By:	/s/ DAVID M. FOULKES
		David M. Foulkes
		Chief Executive Officer

EX-32.2

Exhibit 32.2

Certification Pursuant to Section 1350 of Chapter 63

of Title 18 of the United States Code

I, Ryan M. Gwillim, Chief Financial Officer of Brunswick Corporation, certify that: (i) Brunswick Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended July 02, 2022 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (ii) the information contained in Brunswick Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended July 02, 2022 fairly presents, in all material respects, the financial condition and results of operations of Brunswick Corporation.

	BRUNSWICK CORPORATION
August 2, 2022	By:	/s/ RYAN M. GWILLIM
		Ryan M. Gwillim
		Executive Vice President and Chief Financial Officer

XML

Document And Entity Information - shares	6 Months Ended
	Jul. 02, 2022	Aug. 01, 2022
Entity Information Line Items [Abstract]
Entity File Number	001-01043
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Jul. 02, 2022
Entity Registrant Name	Brunswick Corporation
Entity Address, Address Line One	26125 N. Riverwoods Blvd., Suite 500
Entity Address, City or Town	Mettawa
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60045-3420
City Area Code	847
Local Phone Number	735-4700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,369,399
Entity Incorporation, State or Country Code	DE
Entity Central Index Key	0000014930
Entity Tax Identification Number	36-0848180
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
NEW YORK STOCK EXCHANGE, INC. [Member] | Common Stock [Member]
Entity Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	Common stock, par value $0.75 per share
Trading Symbol	BC
NEW YORK STOCK EXCHANGE, INC. [Member] | 6.500% Senior Notes due 2048 [Member]
Entity Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	6.500% Senior Notes due 2048
Trading Symbol	BC-A
NEW YORK STOCK EXCHANGE, INC. [Member] | 6.625% Senior Notes due 2049 [Member]
Entity Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	6.625% Senior Notes due 2049
Trading Symbol	BC-B
NEW YORK STOCK EXCHANGE, INC. [Member] | 6.375% Senior Notes due 2049 [Member]
Entity Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	6.375% Senior Notes due 2049
Trading Symbol	BC-C
CHICAGO STOCK EXCHANGE, INC [Member] | Common Stock [Member]
Entity Information [Line Items]
Security Exchange Name	CHX
Title of 12(b) Security	Common stock, par value $0.75 per share
Trading Symbol	BC

XML

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Income Statement [Abstract]
Net Sales	$ 1,835.6	$ 1,554.8	$ 3,531.3	$ 2,988.0
Cost of Sales	1,299.2	1,093.3	2,511.3	2,109.2
Selling, General and Administrative Expense	207.2	173.6	399.9	324.4
Research and Development Expense	50.2	37.5	101.6	71.6
Restructuring, Exit and Impairment Charges	0.0	0.2	0.0	0.7
Operating Earnings	279.0	250.2	518.5	482.1
Equity Earnings	0.7	0.4	1.5	1.2
Other Income (Expense), Net	0.3	(1.5)	(1.2)	(2.8)
Earnings Before Interest and Income Taxes	280.0	249.1	518.8	480.5
Interest Expense	(25.9)	(15.4)	(44.3)	(30.2)
Interest Income	0.5	0.9	0.6	1.1
Payment for Debt Extinguishment or Debt Prepayment Cost	0.0	0.0	(0.1)	0.0
Earnings Before Income Taxes	254.6	234.6	475.0	451.4
Income Tax Provision	55.8	55.2	102.2	102.6
Net Earnings from Continuing Operations	198.8	179.4	372.8	348.8
Discontinued operations:
Net Loss From Discontinued Operations, Net of Tax	(1.5)	0.0	(1.3)	(0.1)
Net Earnings (Loss)	$ 197.3	$ 179.4	$ 371.5	$ 348.7
Basic
Earnings from Continuing Operations	$ 2.63	$ 2.30	$ 4.89	$ 4.47
Loss from Discontinued Operations	(0.02)	0	(0.02)	0
Net Earnings (Loss)	2.61	2.30	4.87	4.47
Diluted
Earnings from Continuing Operations	2.61	2.29	4.86	4.44
Loss from Discontinued Operations	(0.02)	0	(0.02)	0
Net Earnings (Loss)	$ 2.59	$ 2.29	$ 4.84	$ 4.44
Weighted Average Shares Used for Computation of [Abstract]
Basic Earnings (Loss) Per Common Share	75.7	78.0	76.3	78.0
Diluted Earnings (Loss) per Common Share	76.1	78.5	76.7	78.6
Comprehensive Income (loss)	$ 185.0	$ 184.0	$ 369.1	$ 358.9
Cash Dividends Declared Per Common Share (in Dollars per Share)		$ 0.335

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Condensed Consolidated Balance Sheets - USD ($)	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021
Current Assets
Cash and Cash Equivalents, at Cost, Which Approximates Fair Value	$ 566,700,000	$ 354,500,000	$ 590,200,000
Restricted cash	11,900,000	12,200,000	9,700,000
Short-Term Investments in Marketable Securities	37,000,000.0	800,000	800,000
Total Cash and Short-Term Investments in Marketable Securities	615,600,000	367,500,000	600,700,000
Accounts and Notes Receivable, less Allowances of $12.0, $8.5 and $8.1	611,000,000.0	485,300,000	503,300,000
Inventories
Finished Goods	746,000,000.0	685,500,000	468,600,000
Work-In-Process	201,400,000	176,800,000	147,600,000
Raw Materials	425,000,000.0	345,700,000	218,900,000
Net Inventories	1,372,400,000	1,208,000,000	835,100,000
Prepaid Expenses and Other	86,400,000	63,800,000	48,900,000
Current Assets	2,685,400,000	2,124,600,000	1,988,000,000
Property
Land	37,100,000	34,700,000	17,600,000
Buildings and Improvements	520,000,000.0	479,300,000	446,800,000
Equipment	1,420,800,000	1,332,400,000	1,244,400,000
Total Land, Buildings and Improvements and Equipment	1,977,900,000	1,846,400,000	1,708,800,000
Accumulated Depreciation	(1,016,100,000)	(989,600,000)	(964,500,000)
Net Land, Buildings and Improvements and Equipment	961,800,000	856,800,000	744,300,000
Unamortized Product Tooling Costs	202,600,000	190,100,000	167,700,000
Net Property	1,164,400,000	1,046,900,000	912,000,000.0
Other Assets
Goodwill	966,700,000	888,400,000	434,300,000
Other Intangibles, Net	1,038,200,000	1,052,100,000	536,300,000
Operating Lease Assets	103,000,000.0	92,800,000	85,900,000
Deferred Income Tax Asset	128,600,000	146,000,000.0	117,200,000
Equity Investments	48,000,000.0	43,800,000	41,400,000
Other Long-Term Assets	32,200,000	30,400,000	23,400,000
Other Assets	2,316,700,000	2,253,500,000	1,238,500,000
Total Assets	6,166,500,000	5,425,000,000	4,138,500,000
Current Liabilities
Short-Term Debt and Current Maturities of Long-Term Debt	3,000,000.0	37,400,000	43,500,000
Accounts Payable	644,000,000.0	693,500,000	588,200,000
Accrued Expenses	700,700,000	711,300,000	619,600,000
Current Liabilities	1,347,700,000	1,442,200,000	1,251,300,000
Long-Term Liabilities
Debt	2,499,000,000	1,779,000,000	832,000,000.0
Operating Lease Liabilities	86,100,000	75,500,000	69,500,000
Postretirement Benefits	64,000,000.0	66,500,000	71,900,000
Other	165,100,000	147,600,000	144,300,000
Long-Term Liabilities	2,814,200,000	2,068,600,000	1,117,700,000
Shareholders' equity
Common Stock; Authorized: 200,000,000 Shares, $0.75 Par Value; Issued: 102,538,000 Shares; Outstanding: 79,114,000, 79,569,000 and 87,063,000 Shares	76,900,000	76,900,000	76,900,000
Additional Paid-In Capital	380,800,000	394,500,000	380,100,000
Retained Earnings	3,036,200,000	2,720,100,000	2,527,200,000
Treasury Stock, at Cost: 23,424,000, 22,969,000 and 15,475,000 Shares	(1,455,400,000)	(1,245,800,000)	(1,182,200,000)
Accumulated Other Comprehensive Loss	(33,900,000)	(31,500,000)	(32,500,000)
Shareholders' Equity	2,004,600,000	1,914,200,000	1,769,500,000
Total Liabilities and Shareholders' Equity	$ 6,166,500,000	$ 5,425,000,000	$ 4,138,500,000
Common Stock, Shares Authorized (in Shares)	200,000,000	200,000,000	200,000,000
Common Stock, Par Value (in Dollars per Share)	$ 0.75	$ 0.75	$ 0.75
Common Stock, Shares Issued (in Shares)	102,538,000	102,538,000	102,538,000
Accounts and Notes Receivable, Allowances	$ 9,300,000	$ 9,700,000	$ 10,300,000
Common Stock, Shares Outstanding (in Shares)	74,472,000	76,933,000	77,554,000
Treasury Stock, Shares (in Shares)	28,066,000	25,605,000	24,984,000

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021
Current Assets
Accounts and Notes Receivable, Allowances	$ 9.3	$ 9.7	$ 10.3
Shareholders' equity
Common Stock, Shares Authorized (in Shares)	200,000,000	200,000,000	200,000,000
Common Stock, Par Value (in Dollars per Share)	$ 0.75	$ 0.75	$ 0.75
Common Stock, Shares Issued (in Shares)	102,538,000	102,538,000	102,538,000
Common Stock, Shares Outstanding (in Shares)	74,472,000	76,933,000	77,554,000
Treasury Stock, Shares (in Shares)	28,066,000	25,605,000	24,984,000

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Cash Flows from Operating Activities
Net Earnings (Loss)	$ 371.5	$ 348.7
Less: Net loss from Discontinued Operations, Net of Tax	(1.3)	(0.1)
Net Earnings from Continuing Operations, net of tax	372.8	348.8
Stock Compensation Expense	12.0	14.8
Depreciation and Amortization	106.1	84.6
Pension Expense, Net of (Funding)	(0.3)	(1.3)
Deferred Income Taxes	10.8	12.3
Changes in Certain Current Assets and Current Liabilities	(338.6)	(136.5)
Long-Term Extended Warranty Contracts and Other Deferred Revenue	8.8	9.0
Income Taxes	(5.9)	10.0
Other, net	(17.8)	8.0
Net Cash used by Operating Activities of Continuing Operations	149.4	350.5
Net Cash Provided by (Used for) Operating Activities of Discontinued Operations	(2.5)	(9.1)
Net Cash used for Operating Activities	146.9	341.4
Payments for (Proceeds from) Investments [Abstract]
Investments	(4.0)	(9.1)
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Marketable Securities	0.0	55.9
Capital Expenditures	(196.5)	(110.3)
Payments to Acquire Marketable Securities	(36.2)	0.0
Payments to Acquire Businesses and Interest in Affiliates	(95.7)	(16.7)
Proceeds from the Sale of Property, Plant and Equipment	3.0	4.6
Net Cash Used for Investing Activities	(312.7)	(75.6)
Cash Flows from Financing Activities
Proceeds From Issuances of Short-Term Debt	125.9	0.0
Payments of Short-Term Debt	(125.0)	0.0
Net Proceeds from Issuances of Long-Term Debt	741.8	1.9
Payments of Long-Term Debt Including Current Maturities	(58.0)	(78.5)
Common Stock Repurchases	(220.0)	(55.9)
Cash Dividends Paid	(55.4)	(47.2)
Proceeds from Share-Based Compensation Activity	0.0	0.5
Tax Withholding Associated with Shares Issued for Share-Based Compensation	(16.4)	(12.8)
Other, net	(4.0)	(3.7)
Net Cash Provided by Financing Activities	388.9	(195.7)
Effect of Exchange Rate Changes	(11.2)	(0.5)
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash	211.9	69.6
Cash and Cash Equivalents and Restricted Cash at Beginning of Period	366.7	530.3
Cash and Cash Equivalents and Restricted Cash at End of Period	578.6	599.9
Less: Restricted Cash	11.9	9.7
Cash and Cash Equivalents at End of Period	566.7	590.2
Payments for (Proceeds from) Other Investing Activities	(16.7)	0.0
Asset Impairment Charges	$ 1.5	$ 0.8

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Condensed Consolidated Statements of Shareholders' Equity Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance, at Beginning of the Period at Dec. 31, 2020	$ 1,510.0	$ 76.9	$ 383.8	$ 2,225.7	$ (1,133.7)	$ (42.7)
Net Earnings (Loss)	169.3	0.0	0.0	169.3	0.0	0.0
Other Comprehensive Income	5.6	0.0	0.0	0.0	0.0	5.6
Dividends	21.0	0.0	0.0	21.0	0.0	0.0
Compensation Plans and Other	(5.4)	0.0	(12.6)	0.0	7.2	0.0
Common Stock Repurchases	(15.9)	0.0	0.0	0.0	(15.9)	0.0
Balance, at End of Period at Apr. 03, 2021	$ 1,642.6	76.9	371.2	2,374.0	(1,142.4)	(37.1)
Cash Dividends Declared Per Common Share (in Dollars per Share)	$ 0.27
Balance, at Beginning of the Period at Dec. 31, 2020	$ 1,510.0	76.9	383.8	2,225.7	(1,133.7)	(42.7)
Net Earnings (Loss)	348.7
Other Comprehensive Income	10.2
Balance, at End of Period at Jul. 03, 2021	1,769.5	76.9	380.1	2,527.2	(1,182.2)	(32.5)
Balance, at Beginning of the Period at Apr. 03, 2021	1,642.6	76.9	371.2	2,374.0	(1,142.4)	(37.1)
Net Earnings (Loss)	179.4	0.0	0.0	179.4	0.0	0.0
Other Comprehensive Income	4.6	0.0	0.0	0.0	0.0	4.6
Dividends	26.2	0.0	0.0	26.2	0.0	0.0
Compensation Plans and Other	9.1	0.0	8.9	0.0	0.2	0.0
Common Stock Repurchases	(40.0)	0.0	0.0	0.0	(40.0)	0.0
Balance, at End of Period at Jul. 03, 2021	$ 1,769.5	76.9	380.1	2,527.2	(1,182.2)	(32.5)
Cash Dividends Declared Per Common Share (in Dollars per Share)	$ 0.335
Balance, at Beginning of the Period at Dec. 31, 2021	$ 1,914.2	76.9	394.5	2,720.1	(1,245.8)	(31.5)
Net Earnings (Loss)	174.2	0.0	0.0	174.2	0.0	0.0
Other Comprehensive Income	9.9	0.0	0.0	0.0	0.0	9.9
Dividends	28.0	0.0	0.0	28.0	0.0	0.0
Compensation Plans and Other	(10.6)	0.0	(20.0)	0.0	9.4	0.0
Common Stock Repurchases	(79.8)	0.0	0.0	0.0	(79.8)	0.0
Balance, at End of Period at Apr. 02, 2022	$ 1,979.9	76.9	374.5	2,866.3	(1,316.2)	(21.6)
Cash Dividends Declared Per Common Share (in Dollars per Share)	$ 0.365
Balance, at Beginning of the Period at Dec. 31, 2021	$ 1,914.2	76.9	394.5	2,720.1	(1,245.8)	(31.5)
Net Earnings (Loss)	371.5
Other Comprehensive Income	(2.4)
Balance, at End of Period at Jul. 02, 2022	2,004.6	76.9	380.8	3,036.2	(1,455.4)	(33.9)
Balance, at Beginning of the Period at Apr. 02, 2022	1,979.9	76.9	374.5	2,866.3	(1,316.2)	(21.6)
Net Earnings (Loss)	197.3	0.0	0.0	197.3	0.0	0.0
Other Comprehensive Income	(12.3)	0.0	0.0	0.0	0.0	(12.3)
Dividends	27.4	0.0	0.0	27.4	0.0	0.0
Compensation Plans and Other	7.3	0.0	6.3	0.0	1.0	0.0
Common Stock Repurchases	(140.2)	0.0	0.0	0.0	(140.2)	0.0
Balance, at End of Period at Jul. 02, 2022	$ 2,004.6	$ 76.9	$ 380.8	$ 3,036.2	$ (1,455.4)	$ (33.9)

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Significant Accounting Policies

6 Months Ended

Jul. 02, 2022

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

Interim Financial Statements. Brunswick's ("Brunswick" or "the Company") unaudited interim condensed consolidated financial statements have been prepared pursuant to Securities and Exchange Commission ("SEC") rules and regulations. Therefore, certain information and disclosures normally included in financial statements and related notes prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted.

These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Brunswick's 2021 Annual Report on Form 10-K for the year ended December 31, 2021 ("the 2021 Form 10-K"). These results include, in management's opinion, all normal and recurring adjustments necessary to present fairly Brunswick's financial position, results of operations and cash flows. Due to the seasonality of Brunswick's businesses, the interim results are not necessarily indicative of the results that may be expected for the remainder of the year.

The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The second quarter of fiscal year 2022 ended on July 2, 2022 and the second quarter of fiscal year 2021 ended on July 3, 2021.

Recently Adopted Accounting Standards

Revenue Contracts Acquired in Business Combinations: In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08, Accounting for Contract Assets and Contract Liabilities From Contracts With Customers, which amended the guidance in Accounting Standards Codification ("ASC") 805 to require that the acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. The Company early adopted the guidance in ASU 2021-08 on July 2, 2022. The adoption of this standard did not have a material impact on the consolidated financial statements.

Recently Issued Accounting Standards

Fair Value Hedge Accounting: In March 2022, the FASB issued ASU 2022-01, Fair Value Hedging — Portfolio Layer Method, which clarifies the guidance in ASC 815 on fair value hedge accounting of interest-rate risk for portfolios of financial assets. ASU 2022-01 amends the guidance that established the “last-of-layer” method for making the fair value hedge accounting for these portfolios more accessible. The amendment is effective for financial statements for interim and annual periods beginning after December 15, 2022. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

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Revenue Recognition (Notes)

6 Months Ended

Jul. 02, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue Recognition

The following table presents the Company's revenue in categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	483.6	$	444.3	$	423.1	$	1,351.0	$	404.4	$	391.7	$	314.1	$	1,110.2
Europe	118.4		99.6		56.0		274.0		119.7		69.9		52.5		242.1
Asia-Pacific	59.5		52.2		7.5		119.2		66.6		39.9		7.3		113.8
Canada	24.5		39.1		70.4		134.0		24.1		34.2		66.8		125.1
Rest-of-World	48.2		16.3		11.4		75.9		34.7		13.2		8.4		56.3
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	936.3	$	851.8	$	791.5	$	2,579.6	$	825.7	$	704.0	$	626.7	$	2,156.4
Europe	231.8		207.6		101.6		541.0		228.7		133.4		94.1		456.2
Asia-Pacific	122.8		105.1		16.6		244.5		132.3		82.4		14.0		228.7
Canada	57.7		69.6		132.6		259.9		49.3		59.6		115.2		224.1
Rest-of-World	91.5		35.2		18.9		145.6		71.3		29.1		18.6		119.0
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	565.8	$	—	$	—	$	565.8	$	494.2	$	—	$	—	$	494.2
Controls, Rigging, and Propellers	106.4		—		—		106.4		96.1		—		—		96.1
Sterndrive Engines	62.0		—		—		62.0		59.2		—		—		59.2
Distribution Parts and Accessories	—		231.4		—		231.4		—		255.2		—		255.2
Engine Parts and Accessories	—		146.7		—		146.7		—		155.4		—		155.4
Advanced Systems Group	—		159.2		—		159.2		—		138.3		—		138.3
Navico	—		114.2		—		114.2		—		—		—		—
Aluminum Freshwater Boats	—		—		237.4		237.4		—		—		190.1		190.1
Recreational Fiberglass Boats	—		—		187.4		187.4		—		—		154.2		154.2
Saltwater Fishing Boats	—		—		110.3		110.3		—		—		93.0		93.0
Business Acceleration	—		—		35.8		35.8		—		—		15.3		15.3
Boat Eliminations/Other	—		—		(2.5)		(2.5)		—		—		(3.5)		(3.5)
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	1,111.9	$	—	$	—	$	1,111.9	$	998.7	$	—	$	—	$	998.7
Controls, Rigging, and Propellers	204.9		—		—		204.9		191.0		—		—		191.0
Sterndrive Engines	123.3		—		—		123.3		117.6		—		—		117.6
Distribution Parts and Accessories	—		434.9		—		434.9		—		455.8		—		455.8
Engine Parts and Accessories	—		272.3		—		272.3		—		279.6		—		279.6
Advanced Systems Group	—		311.1		—		311.1		—		273.1		—		273.1
Navico	—		251.0		—		251.0		—		—		—		—
Aluminum Freshwater Boats	—		—		458.0		458.0		—		—		367.9		367.9
Recreational Fiberglass Boats	—		—		351.8		351.8		—		—		289.6		289.6
Saltwater Fishing Boats	—		—		199.5		199.5		—		—		189.8		189.8
Business Acceleration	—		—		55.4		55.4		—		—		28.0		28.0
Boat Eliminations/Other	—		—		(3.5)		(3.5)		—		—		(6.7)		(6.7)
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

As of December 31, 2021, $142.1 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $10.5 million and $24.8 million were recognized as revenue during the three and six months ended July 2, 2022, respectively. As of July 2, 2022, total contract liabilities were $181.2 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of July 2, 2022 was $168.9 million for contracts greater than one year, which

primarily relates to extended warranties. The Company expects to recognize $29.2 million of this amount in the second half of 2022, $50.2 million in 2023, and $89.5 million thereafter.

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Financial Instruments

6 Months Ended

Jul. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Financial Instruments

The Company operates globally with manufacturing and sales facilities around the world. Due to the Company’s global operations, the Company engages in activities involving both financial and market risks. The Company utilizes normal operating and financing activities, along with derivative financial instruments, to minimize these risks. See Note 14 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for further details regarding the Company's financial instruments and hedging policies.

Cross-Currency Swaps. The Company enters into cross-currency swaps to hedge Euro currency exposures of the net investment in certain foreign subsidiaries. As of July 2, 2022, December 31, 2021 and July 3, 2021, the notional value of cross-currency swap contracts outstanding were $250.0 million, $200.0 million and $200.0 million, respectively. The cross-currency swaps were designated as net investment hedges, with the amount of gain or loss associated with the change in fair value of these instruments deferred in Accumulated other comprehensive loss and recognized upon termination of the respective investment. In the first quarter of 2022, the Company settled $200.0 million of cross-currency swap contracts resulting in a deferred gain of $16.7 million within Accumulated other comprehensive loss.

Commodity Price. The Company uses commodity swaps to hedge anticipated purchases of aluminum. As of July 2, 2022, December 31, 2021 and July 3, 2021, the notional value of commodity swap contracts outstanding was $22.6 million, $25.3 million and $11.2 million, respectively, and the contracts mature through 2023. The amount of gain or loss associated with the change in fair value of these instruments is deferred in Accumulated other comprehensive loss and recognized in Cost of sales in the same period or periods during which the hedged transaction affects earnings. As of July 2, 2022, the Company estimates that, during the next 12 months, it will reclassify approximately $2.2 million in net losses (based on current prices) from Accumulated other comprehensive loss to Cost of sales.

Foreign Currency Derivatives. Forward exchange contracts outstanding at July 2, 2022, December 31, 2021 and July 3, 2021 had notional contract values of $650.0 million, $519.8 million and $481.1 million, respectively. The forward contracts outstanding at July 2, 2022 mature through 2023 and mainly relate to the Euro, Australian dollar, Canadian dollar, and Japanese yen. As of July 2, 2022, the Company estimates that during the next 12 months, it

will reclassify approximately $23.4 million of net gains (based on current rates) from Accumulated other comprehensive loss to Cost of sales.

Interest Rate Derivatives. During the first quarter of 2021, the Company entered into forward-starting interest-rate swaps to hedge the interest-rate risk associated with anticipated debt issuances. On August 4, 2021, the Company settled these interest-rate swaps, resulting in a net deferred loss of $1.6 million. As a result, there were no forward-starting interest-rate swaps outstanding as of July 2, 2022 and December 31, 2021. As of July 3, 2021, the outstanding forward-starting interest-rate swaps had a total notional contract value of $150.0 million.

During the first quarter of 2022, the Company entered into and settled a series of treasury-lock swaps to hedge the interest-rate risk associated with debt issuances, resulting in a net deferred gain of $5.1 million. As a result, there were no treasury-lock swaps outstanding as of July 2, 2022, December 31, 2021 or July 3, 2021.

The Company had net deferred gains (losses) associated with the forward-starting interest-rate swaps and treasury-lock swaps discussed above of $3.0 million, $(2.4) million, and $1.7 million as of July 2, 2022, December 31, 2021, and July 3, 2021, respectively. These instruments were designated as cash flow hedges with gains and losses included in Accumulated other comprehensive loss. As of July 2, 2022, the Company estimates that during the next 12 months, it will reclassify approximately $0.4 million of net losses from Accumulated other comprehensive loss to Interest expense.

As of July 2, 2022, December 31, 2021 and July 3, 2021, the fair values of the Company’s derivative instruments were:

(in millions)	Fair Value
Asset Derivatives	July 2, 2022		December 31, 2021		July 3, 2021
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	24.3	$	8.8	$	3.4
Commodity contracts	—		1.9		3.3
Interest rate contracts	—		—		2.8
Total	$	24.3	$	10.7	$	9.5
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	$	14.2	$	14.3	$	5.9
Other Hedging Activity
Foreign exchange contracts	$	2.0	$	0.1	$	0.2
Liability Derivatives
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	1.9	$	2.6	$	5.4
Commodity contracts	2.4		—		—
Total	$	4.3	$	2.6	$	5.4
Other Hedging Activity
Foreign exchange contracts	$	0.1	$	0.3	$	0.3

As of July 2, 2022, December 31, 2021 and July 3, 2021, asset derivatives are included within Prepaid expenses and other and Other long-term assets, and liability derivatives are included within Accrued expenses and Other long-term liabilities in the Condensed Consolidated Balance Sheets.

The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended July 2, 2022 and July 3, 2021 is as shown in the tables below.

The amount of gain (loss) on derivatives recognized in Accumulated other comprehensive loss was as follows:

(in millions)	Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	$	—	$	(7.0)	$	5.3	$	2.8
Foreign exchange contracts	25.3		(2.2)		27.9		0.4
Commodity contracts	(5.7)		2.2		(0.7)		4.3
Total	$	19.6	$	(7.0)	$	32.5	$	7.5
Derivatives Designated as Net Investment Hedging Instruments
Cross-currency swaps	$	15.2	$	5.9	$	16.6	$	5.9

The amount of gain (loss) reclassified from Accumulated other comprehensive loss into earnings was as follows:

(in millions)		Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	Location of Gain (Loss)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	Interest expense	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)
Foreign exchange contracts	Cost of sales	5.3		(4.0)		8.0		(7.1)
Commodity contracts	Cost of sales	2.3		1.2		3.9		1.5
Total		$	7.5	$	(3.0)	$	11.8	$	(5.9)
Derivatives Designated as Fair Value Hedging Instruments
Interest rate contracts	Interest expense	$	0.1	$	0.1	$	0.3	$	0.3
Other Hedging Activity
Foreign exchange contracts	Cost of sales	$	5.4	$	(2.8)	$	1.8	$	(1.0)
Foreign exchange contracts	Other expense, net	0.2		(0.2)		0.2		(2.4)
Total		$	5.6	$	(3.0)	$	2.0	$	(3.4)

Fair Value of Other Financial Instruments. The carrying values of the Company's short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. At July 2, 2022, December 31, 2021 and July 3, 2021, the fair value of the Company’s long-term debt, including short-term debt and current maturities, was approximately $2,272.0 million, $1,914.7 million and $1,001.4 million, respectively, and was determined using Level 1 and Level 2 inputs described in Note 7 to the Notes to Consolidated Financial Statements in the 2021 Form 10-K. The carrying value of long-term debt, including short-term debt and current maturities, was $2,534.9 million, $1,843.1 million and $895.6 million as of July 2, 2022, December 31, 2021 and July 3, 2021, respectively.

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Fair Value Measurements

6 Months Ended

Jul. 02, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:

(in millions)		Fair Value
Category	Fair Value Level	July 2, 2022		December 31, 2021		July 3, 2021
Cash equivalents	1	$	39.2	$	0.4	$	0.2
Short-term investments in marketable securities	1	37.0		0.8		0.8
Restricted cash	1	11.9		12.2		9.7
Derivatives assets	2	40.5		25.1		15.6
Derivative liabilities	2	4.4		2.9		5.7
Deferred compensation	1	1.4		1.4		1.4
Deferred compensation	2	14.2		17.7		16.8
Liabilities measured at net asset value		10.4		10.2		9.3

In addition to the items shown in the table above, refer to Note 17 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for further information regarding the fair value measurements associated with the Company's postretirement benefit plans.

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Commitments and Contingencies

6 Months Ended

Jul. 02, 2022

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 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	129.3	$	115.9
Payments - Recurring	(29.2)		(31.1)
Provisions/additions for contracts issued/sold	41.1		37.8
Aggregate changes for preexisting warranties	(0.2)		(1.8)
Foreign currency translation	(1.3)		(0.2)
Other	(0.9)		(2.9)
Balance at end of period	$	138.8	$	117.7

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 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	99.5	$	87.4
Extended warranty contracts sold	20.1		18.7
Revenue recognized on existing extended warranty contracts	(11.0)		(9.7)
Foreign currency translation	—		0.3
Other	(0.3)		(0.3)
Balance at end of period	$	108.3	$	96.4

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Goodwill and Intangibles

6 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles [Text Block]

Goodwill and Other Intangibles

Changes in the Company's goodwill during the six months ended July 2, 2022 and July 3, 2021, by segment, are summarized below:

(in millions)	Propulsion		Parts & Accessories		Boat		Total
December 31, 2021	$	14.7	$	814.9	$	58.8	$	888.4
Acquisitions	—		—		79.5		79.5
Adjustments	(0.8)		(0.5)		0.1		(1.2)
July 2, 2022	$	13.9	$	814.4	$	138.4	$	966.7
December 31, 2020	$	15.3	$	372.5	$	29.9	$	417.7
Acquisitions	—		—		16.8		16.8
Adjustments	(0.2)		—		—		(0.2)
July 3, 2021	$	15.1	$	372.5	$	46.7	$	434.3

Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. In addition, adjustments during the six months ended July 2, 2022 also include $1.9 million of purchase accounting adjustments from 2021 acquisitions. There was no accumulated impairment loss on Goodwill as of July 2, 2022, December 31, 2021 or July 3, 2021.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of July 2, 2022, December 31, 2021 and July 3, 2021, are summarized by intangible asset type below:

	July 2, 2022				December 31, 2021				July 3, 2021
(in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Intangible assets:
Customer relationships	$	897.4	$	(362.4)	$	889.4	$	(340.9)	$	687.6	$	(322.3)
Trade names	305.4		—		306.1		—		166.3		—
Developed technology	160.0		(8.0)		160.0		(2.7)		—		—
Other	74.3		(28.5)		62.0		(21.8)		18.5		(13.8)
Total	$	1,437.1	$	(398.9)	$	1,417.5	$	(365.4)	$	872.4	$	(336.1)

Other intangible assets primarily consist of software, patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $15.4 million and $31.3 million for three and six months ended July 2, 2022, respectively. Aggregate amortization expense for intangibles was $8.0 million and $16.0 million for three and six months ended July 3, 2021, respectively.

The Company tests its intangible assets for impairment during the fourth quarter of each year, or whenever a significant change in events and circumstances (triggering event) occurs that indicates the fair value of intangible assets may be below their carrying values. The Company did not record an impairment charge during the six months ended July 2, 2022 or July 3, 2021.

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Segment Data

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segment Data

Segment Data

Reportable Segments

The Company's segments are defined by management's reporting structure and operating activities. The Company's reportable segments are the following:

Propulsion. The Propulsion segment manufactures and markets a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, rigging, and propellers. These products are principally sold directly to boat builders, including Brunswick's Boat segment, and through marine retail dealers worldwide. The Propulsion segment primarily markets under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, and Mercury Diesel brands. The segment's engine manufacturing plants are located mainly in the United States and China, along with a joint venture in Japan, with sales mainly to markets in the Americas, Europe, and Asia-Pacific.

Parts & Accessories. The Parts & Accessories ("P&A") segment consists of the Engine Parts and Accessories and the Advanced Systems Group operating segments, which are aggregated and presented as a single reportable segment. The P&A segment also includes Navico, which was acquired in October 2021.

The P&A segment manufactures, markets, and supplies parts and accessories for both marine and non-marine markets. These products are designed for and sold mostly to aftermarket retailers, distributors, and distribution businesses, as well as original equipment manufacturers (including Brunswick brands). Branded parts and accessories include consumables, such as engine oils and lubricants, and are sold under the Mercury, Mercury Precision Parts, Quicksilver, and Seachoice brands. The P&A segment includes distribution businesses such as Land 'N' Sea, Kellogg Marine Supply, Lankhorst Taselaar, BLA, and Payne's Marine Group, which distribute third-party and Company products. These businesses are leading distributors of marine parts and accessories throughout North America, Europe, and Asia-Pacific. The P&A segment also includes businesses operating under the Ancor, Attwood, BEP, Blue Sea Systems, CZone, Del City, Garelick, Lenco Marine, Marinco, Mastervolt, MotorGuide, ParkPower, ProMariner, RELiON, Whale, and ASG Connect brand names. Products include marine electronics and control systems, instruments, trolling motors, fuel systems, and electrical systems, as well as specialty vehicle, mobile, and transportation aftermarket products. The P&A segment also includes Navico, a global leader in marine electronics and sensors, including multi-function displays, fish finders, autopilots, sonar, radar, and cartography operating under the B&G, C-MAP, Lowrance, and Simrad brand names.

The P&A segment's manufacturing and distribution facilities are primarily located in North America, Europe, Australia, and New Zealand.

Boat. The Boat segment designs, manufactures, and markets the following boat brands and products: Sea Ray sport boats and cruisers; Bayliner sport cruisers, runabouts, and Heyday wake boats; Boston Whaler fiberglass offshore boats; Lund fiberglass fishing boats; Crestliner, Cypress Cay, Harris, Lowe, Lund and Princecraft aluminum fishing, utility, pontoon boats, and deck boats; and Thunder Jet heavy-gauge aluminum boats. The Boat segment procures substantially all of its outboard engines, gasoline sterndrive engines, and gasoline inboard engines from Brunswick's Propulsion segment. The Boat segment also includes Brunswick boat brands based in Europe and Asia-Pacific, which include Quicksilver, Uttern, and Rayglass (including Protector and Legend). The Boat segment's products are manufactured mainly in the United States, Europe, and Mexico and sold through a global network of dealer and distributor locations, primarily in North America and Europe.

The Boat segment includes Business Acceleration which, through innovative service models, shared access solutions, including the Freedom Boat Club business acquired in 2019, dealer services and emerging technology, aims to provide exceptional experiences to attract a wide range of customers to the marine industry and shape the future of boating.

The Company evaluates performance based on segment operating earnings. Segment operating earnings do not include the expenses of corporate administration, impairments or gains on the sale of equity investments, earnings from unconsolidated affiliates, other expenses and income of a non-operating nature, transaction financing charges, interest expense, and income or provisions or benefits for income taxes.

Corporate/Other results include items such as corporate staff and administrative costs, investments in technology solutions, business development and other growth-related expenses, including IT enhancements.

Corporate/Other total assets consist of mainly cash, cash equivalents and investments in short-term marketable securities, restricted cash, income tax balances and investments in unconsolidated affiliates.

Segment eliminations adjust for sales between the Company's reportable segments and primarily relate to the sale of engines and parts and accessories to various boat brands, which are consummated at established arm's length transfer prices as the intersegment pricing for these engines and parts and accessories are based upon and consistent with selling prices to third-party customers.

Information about the operations of Brunswick's reportable segments is set forth below:

	Net Sales								Operating Earnings (Loss)
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Propulsion	$	734.2	$	649.5	$	1,440.1	$	1,307.3	$	142.0	$	122.1	$	267.3	$	246.6
Parts & Accessories	651.5		548.9		1,269.3		1,008.5		108.2		114.4		199.8		206.3
Boat	568.4		449.1		1,061.2		868.6		58.9		44.2		104.2		85.0
Corporate/Other	—		—		—		—		(30.1)		(30.5)		(52.8)		(55.8)
Segment Eliminations	(118.5)		(92.7)		(239.3)		(196.4)		—		—		—		—
Total	$	1,835.6	$	1,554.8	$	3,531.3	$	2,988.0	$	279.0	$	250.2	$	518.5	$	482.1

	Total Assets
(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Propulsion	$	1,400.0	$	1,225.2	$	1,095.1
Parts & Accessories	3,055.3		2,939.4		1,640.7
Boat	816.4		609.9		564.0
Corporate/Other	894.8		650.5		838.7
Total	$	6,166.5	$	5,425.0	$	4,138.5

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Comprehensive Income

6 Months Ended

Jul. 02, 2022

Comprehensive Income [Abstract]

Comprehensive Income

Comprehensive Income

Accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets includes foreign currency cumulative translation adjustments; prior service costs and credits and net actuarial gains and losses for defined benefit plans; and unrealized derivative gains and losses, all net of tax. Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three and six months ended July 2, 2022 and July 3, 2021 are as follows:

	Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net earnings	$	197.3	$	179.4	$	371.5	$	348.7
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(32.6)		3.2		(30.5)		(4.3)
Net change in unamortized prior service credits	—		—		—		(0.2)
Net change in unamortized actuarial gains	0.3		0.1		0.5		0.3
Net change in unrealized derivative gains	20.0		1.3		27.6		14.4
Total other comprehensive income	(12.3)		4.6		(2.4)		10.2
Comprehensive income	$	185.0	$	184.0	$	369.1	$	358.9

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(32.4)	$	(3.7)	$	(3.2)	$	0.2	$	17.5	$	(21.6)
Other comprehensive (loss) income before reclassifications (A)	(32.6)		—		—		—		25.6		(7.0)
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.3		—		(5.6)		(5.3)
Net other comprehensive income	(32.6)		—		0.3		—		20.0		(12.3)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the three months ended July 2, 2022 were $1.5 million for foreign currency translation and $(9.2) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 2, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the six months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(34.5)	$	(3.7)	$	(3.4)	$	0.2	$	9.9	$	(31.5)
Other comprehensive (loss) income before reclassifications (A)	(30.5)		—		—		—		36.4		5.9
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.5		—		(8.8)		(8.3)
Net other comprehensive (loss) income	(30.5)		—		0.5		—		27.6		(2.4)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the six months ended July 2, 2022 were $3.1 million for foreign currency translation and $(12.7) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 2, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended July 3, 2021:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(22.6)	$	(3.7)	$	(8.7)	$	(2.1)	$	(37.1)
Other comprehensive income (loss) before reclassifications (A)	3.2		—		—		(0.9)		2.3
Amounts reclassified from Accumulated other comprehensive loss (B)	—		—		0.1		2.2		2.3
Net other comprehensive income	3.2		—		0.1		1.3		4.6
Ending balance	$	(19.4)	$	(3.7)	$	(8.6)	$	(0.8)	$	(32.5)

(A) The tax effects for the three months ended July 3, 2021 were $(0.9) million for foreign currency translation and $0.2 million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 3, 2021.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the six months ended July 3, 2021:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Net derivative losses		Total
Beginning balance	$	(15.1)	$	(3.5)	$	(8.9)	$	(15.2)	$	(42.7)
Other comprehensive (loss) income before reclassifications (A)	(4.3)		—		—		10.1		5.8
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		(0.2)		0.3		4.3		4.4
Net other comprehensive (loss) income	(4.3)		(0.2)		0.3		14.4		10.2
Ending balance	$	(19.4)	$	(3.7)	$	(8.6)	$	(0.8)	$	(32.5)

(A) The tax effects for the six months ended July 3, 2021 were $0.0 million for foreign currency translation and $(3.4) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 3, 2021.

The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and six months ended July 2, 2022 and July 3, 2021:

	Three Months Ended				Six Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		Affected line item in the statement where net income is presented
Amortization of defined benefit items:
Prior service credits	$	—	$	—	$	—	$	0.2	Other income (expense), net
Net actuarial losses	(0.3)		(0.2)		(0.5)		(0.4)		Other income (expense), net
	(0.3)		(0.2)		(0.5)		(0.2)		Earnings before income taxes
	—		0.1		—		0.1		Income tax provision
	$	(0.3)	$	(0.1)	$	(0.5)	$	(0.1)	Net earnings from continuing operations
Amount of (loss) gain reclassified into earnings on derivative contracts:
Interest rate contracts	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)	Interest expense
Foreign exchange contracts	5.3		(4.0)		8.0		(7.1)		Cost of sales
Commodity contracts	2.3		1.2		3.9		1.5		Cost of sales
	7.5		(3.0)		11.8		(5.9)		Earnings before income taxes
	(1.9)		0.8		(3.0)		1.6		Income tax provision
	$	5.6	$	(2.2)	$	8.8	$	(4.3)	Net earnings from continuing operations

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Income Taxes

6 Months Ended

Jul. 02, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company recognized an income tax provision for the three and six months ended July 2, 2022 of $55.8 million and $102.2 million, respectively. The income tax provision of $55.8 million included a net benefit of $0.7 million primarily associated with tax refunds. The income tax provision of $102.2 million included a net benefit of $3.3 million primarily associated with the net excess tax benefits related to share-based compensation, valuation-allowance adjustments and tax refunds. The Company recognized an income tax provision for the three and six months ended July 3, 2021 of $55.2 million and $102.6 million, respectively, which included a net charge of $6.2 million and $3.2 million, respectively. The net charge of $6.2 million was primarily associated with the restructuring of certain branch operations. The net charge of $3.2 million included the aforementioned branch restructuring charges offset by net excess tax benefits related to share-based compensation and valuation allowance adjustments. The excess tax benefit related to share-based compensation for the three and six months ended July 2, 2022 was $0.1 million and $2.9 million, respectively. The excess tax benefit related to share-based compensation was $0.1 million and $1.6 million for the three and six months ended July 3, 2021, respectively. The effective tax rate, which is calculated as the income tax provision as a percentage of earnings before income taxes, for the three and six months ended July 2, 2022 was 21.9 percent and 21.5 percent, respectively. The effective tax rate for the three and six months ended July 3, 2021 was 23.5 percent and 22.7 percent, respectively.

No deferred income taxes have been provided as of July 2, 2022, December 31, 2021 or July 3, 2021 on the applicable undistributed earnings of the non-U.S. subsidiaries where the indefinite reinvestment assertion has been applied. If at some future date these earnings cease to be indefinitely reinvested and are repatriated, the Company may be subject to additional U.S. income taxes and foreign withholding taxes on such amounts. The Company continues to provide deferred taxes, as required, on the undistributed net earnings of foreign subsidiaries and unconsolidated affiliates that are not deemed to be indefinitely reinvested in operations outside the United States.

As of July 2, 2022, December 31, 2021 and July 3, 2021, the Company had $10.3 million, $10.1 million and $4.6 million of gross unrecognized tax benefits, including interest, respectively. The Company believes it is reasonably possible that the total amount of gross unrecognized tax benefits as of July 2, 2022 could decrease by approximately $0.1 million in the next 12 months due to settlements with taxing authorities or lapses in the applicable statute of limitations. Due to the various jurisdictions in which the Company files tax returns and the uncertainty regarding the timing of the settlement of tax audits, it is possible that there could be significant changes in the amount of unrecognized tax benefits in 2022, but the amount cannot be estimated at this time.

The Company is regularly audited by federal, state and foreign tax authorities. The Internal Revenue Service ("IRS") has completed its field examination and has issued its Revenue Agents Report through the 2014 tax year and all open issues have been resolved. The Company is currently open to tax examinations by the IRS for the 2018 through 2020 tax years. Primarily as a result of filing amended returns, which were generated by the closing of federal income tax audits, the Company is still open to state and local tax audits in major tax jurisdictions dating back to the 2014 taxable year. The Company is no longer subject to income tax examinations by any major foreign tax jurisdiction for years prior to 2013.

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Debt

6 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt

The following table provides the changes in the Company's long-term debt for the six months ended July 2, 2022:

(in millions)	Short-term debt and current maturities of long-term debt		Long-term debt		Total
Balance as of December 31, 2021	$	37.4	$	1,779.0	$	1,816.4
Proceeds from issuances of debt	0.9		741.8		742.7
Repayments of long-term debt	(36.2)		(21.8)		(58.0)
Other	0.9		—		0.9
Balance as of July 2, 2022	$	3.0	$	2,499.0	$	2,502.0

As of July 2, 2022, Brunswick was in compliance with the financial covenants associated with its debt.

2032 and 2052 Notes

In March 2022, the Company issued aggregate principal amount of $450.0 million of 4.400% Senior Notes due 2032 (the "2032 Notes") and $300.0 million of 5.100% Senior Notes due 2052 (the "2052 Notes" and, together with the 2032 Notes, the "Notes") in a public offering, which resulted in aggregate net proceeds to the Company of $741.8 million. The Company intends to use the net proceeds from the sale of the Notes for general corporate purposes.

The 2032 Notes bear interest at a rate of 4.400% per year and the 2052 Notes bear interest at a rate of 5.100% per year. Interest on the 2032 Notes is payable semiannually in arrears on March 15 and September 15 of each year, and the first interest payment date will be September 15, 2022. Interest on the 2052 Notes is payable semiannually in arrears on April 1 and October 1 of each year, and the first interest payment date will be October 1, 2022. The 2032 Notes will mature on September 15, 2032, and the 2052 Notes will mature on April 1, 2052.

The Company may redeem the Notes of each series, in whole or in part, at any time and from time to time prior to maturity. If the Company elects to redeem the Notes at any time prior to (i) with respect to the 2032 Notes, June 15, 2032 (the date that is three months prior to the maturity of the 2032 Notes) or (ii) with respect to the 2052 Notes, October 1, 2051 (the date that is six months prior to the maturity of the 2052 Notes), it will pay a “make-whole” redemption price set forth in the Fifth Supplemental Indenture dated as of March 29, 2022 ("Fifth Supplemental Indenture"). On or after June 15, 2032, in the case of the 2032 Notes, or October 1, 2051, in the case of the 2052 Notes, the Company may, at its option, redeem the Notes of each series, in whole or in part at any time and from time to time, at a redemption price equal to 100% of the principal amount thereof. In addition to the redemption price, the Company will pay accrued and unpaid interest, if any, to, but not including, the redemption date.

If the Company experiences a change-of-control triggering event with respect to a series of Notes, as defined in the Fifth Supplemental Indenture, each holder of such series of Notes may require the Company to repurchase some or all of its Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the repurchase date.

Term Loan

During the first six months of 2022, the Company made the remaining principal repayments totaling $56.3 million of its 2023 floating-rate term loan. The term loan was redeemed at 100 percent of the principal amount plus accrued interest, in accordance with the redemption provisions of the term loan. The Company recognized a loss on early extinguishment of debt of $0.1 million related to the term loan redemption.

Credit Facility

The Company maintains a Revolving Credit Agreement ("Credit Facility"). In March 2022, the Company amended its Credit Facility with certain wholly-owned subsidiaries of the Company as subsidiary borrowers and lenders as parties, and JPMorgan Chase Bank, N.A., as administrative agent. This amends and restates the Credit Facility, dated as of March 21, 2011, as amended and restated on July 16, 2021. The amended Credit Facility increases the revolving commitments to $750.0 million, with the capacity to add up to $100.0 million of additional revolving commitments, and amends the Credit Facility in certain respects, including, among other things:

•Extending the maturity date to March 31, 2027, with up to two one-year extensions available.

•Transitioning the reference rate for loans denominated in U.S. dollars from the London interbank offered rate ("LIBOR") to the term Secured Overnight Financing Rate ("SOFR"), with a credit spread adjustment of 10 basis points to be added to the reference rate for borrowings of U.S. dollar loans for each interest period.

During the first six months of 2022, gross borrowings under the Credit Facility totaled $125.0 million. As of July 2, 2022 there were no borrowings outstanding, and available borrowing capacity totaled $747.2 million, net of $2.8 million of letters of credit outstanding, under the Credit Facility. The maximum amount utilized under the Credit Facility during the six months ended July 2, 2022, including letters of credit outstanding under the Credit Facility, was $127.8 million. There were no borrowings under the Credit Facility during the six months ended July 3, 2021. Refer to Note 16 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for details regarding Brunswick's Credit Facility.

Commercial Paper

In December 2019, the Company entered into an unsecured commercial paper program ("CP Program") pursuant to which the Company may issue short-term, unsecured commercial paper notes ("CP Notes"). During the second quarter of 2022, the Company increased the size of its CP Program to allow the issuance of CP Notes in an aggregate principal amount not to exceed $500.0 million outstanding at any time. The CP Program previously allowed the Company to issue CP Notes in an aggregate principal amount not to exceed $300.0 million outstanding at any time. Amounts available under the CP Program may be borrowed, repaid and re-borrowed from time to time, with the aggregate principal amount of CP Notes outstanding under the CP Program at any time not exceeding the lower of $500.0 million or the available borrowing amount under the Credit Facility. Refer to Note 16 in the Notes to Consolidated Financial Statements in the 2021 Form 10-K for details regarding Brunswick's CP Program. During the first six months of 2022, borrowings under the CP Program totaled $500.0 million, all of which were repaid during the period. During the six months ended July 2, 2022, the maximum amount utilized under the CP Program was $300.0 million.

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Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2022
Accounting Policies [Abstract]
Basis of Accounting	Interim Financial Statements. Brunswick's ("Brunswick" or "the Company") unaudited interim condensed consolidated financial statements have been prepared pursuant to Securities and Exchange Commission ("SEC") rules and regulations. Therefore, certain information and disclosures normally included in financial statements and related notes prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted.
Fiscal Period Policy	The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The second quarter of fiscal year 2022 ended on July 2, 2022 and the second quarter of fiscal year 2021 ended on July 3, 2021.

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Revenue Recognition (Tables)

6 Months Ended

Jul. 02, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents the Company's revenue in categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	483.6	$	444.3	$	423.1	$	1,351.0	$	404.4	$	391.7	$	314.1	$	1,110.2
Europe	118.4		99.6		56.0		274.0		119.7		69.9		52.5		242.1
Asia-Pacific	59.5		52.2		7.5		119.2		66.6		39.9		7.3		113.8
Canada	24.5		39.1		70.4		134.0		24.1		34.2		66.8		125.1
Rest-of-World	48.2		16.3		11.4		75.9		34.7		13.2		8.4		56.3
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Geographic Markets
United States	$	936.3	$	851.8	$	791.5	$	2,579.6	$	825.7	$	704.0	$	626.7	$	2,156.4
Europe	231.8		207.6		101.6		541.0		228.7		133.4		94.1		456.2
Asia-Pacific	122.8		105.1		16.6		244.5		132.3		82.4		14.0		228.7
Canada	57.7		69.6		132.6		259.9		49.3		59.6		115.2		224.1
Rest-of-World	91.5		35.2		18.9		145.6		71.3		29.1		18.6		119.0
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

	Three Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	565.8	$	—	$	—	$	565.8	$	494.2	$	—	$	—	$	494.2
Controls, Rigging, and Propellers	106.4		—		—		106.4		96.1		—		—		96.1
Sterndrive Engines	62.0		—		—		62.0		59.2		—		—		59.2
Distribution Parts and Accessories	—		231.4		—		231.4		—		255.2		—		255.2
Engine Parts and Accessories	—		146.7		—		146.7		—		155.4		—		155.4
Advanced Systems Group	—		159.2		—		159.2		—		138.3		—		138.3
Navico	—		114.2		—		114.2		—		—		—		—
Aluminum Freshwater Boats	—		—		237.4		237.4		—		—		190.1		190.1
Recreational Fiberglass Boats	—		—		187.4		187.4		—		—		154.2		154.2
Saltwater Fishing Boats	—		—		110.3		110.3		—		—		93.0		93.0
Business Acceleration	—		—		35.8		35.8		—		—		15.3		15.3
Boat Eliminations/Other	—		—		(2.5)		(2.5)		—		—		(3.5)		(3.5)
Segment Eliminations	(102.3)		(16.0)		(0.2)		(118.5)		(85.6)		(7.1)		—		(92.7)
Total	$	631.9	$	635.5	$	568.2	$	1,835.6	$	563.9	$	541.8	$	449.1	$	1,554.8
	Six Months Ended
	July 2, 2022								July 3, 2021
(in millions)	Propulsion		Parts & Accessories		Boat		Total		Propulsion		Parts & Accessories		Boat		Total
Major Product Lines
Outboard Engines	$	1,111.9	$	—	$	—	$	1,111.9	$	998.7	$	—	$	—	$	998.7
Controls, Rigging, and Propellers	204.9		—		—		204.9		191.0		—		—		191.0
Sterndrive Engines	123.3		—		—		123.3		117.6		—		—		117.6
Distribution Parts and Accessories	—		434.9		—		434.9		—		455.8		—		455.8
Engine Parts and Accessories	—		272.3		—		272.3		—		279.6		—		279.6
Advanced Systems Group	—		311.1		—		311.1		—		273.1		—		273.1
Navico	—		251.0		—		251.0		—		—		—		—
Aluminum Freshwater Boats	—		—		458.0		458.0		—		—		367.9		367.9
Recreational Fiberglass Boats	—		—		351.8		351.8		—		—		289.6		289.6
Saltwater Fishing Boats	—		—		199.5		199.5		—		—		189.8		189.8
Business Acceleration	—		—		55.4		55.4		—		—		28.0		28.0
Boat Eliminations/Other	—		—		(3.5)		(3.5)		—		—		(6.7)		(6.7)
Segment Eliminations	(211.5)		(27.6)		(0.2)		(239.3)		(180.5)		(15.9)		—		(196.4)
Total	$	1,228.6	$	1,241.7	$	1,061.0	$	3,531.3	$	1,126.8	$	992.6	$	868.6	$	2,988.0

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Financial Instruments Financial Instruments (Tables)

6 Months Ended

Jul. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments

As of July 2, 2022, December 31, 2021 and July 3, 2021, the fair values of the Company’s derivative instruments were:

(in millions)	Fair Value
Asset Derivatives	July 2, 2022		December 31, 2021		July 3, 2021
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	24.3	$	8.8	$	3.4
Commodity contracts	—		1.9		3.3
Interest rate contracts	—		—		2.8
Total	$	24.3	$	10.7	$	9.5
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	$	14.2	$	14.3	$	5.9
Other Hedging Activity
Foreign exchange contracts	$	2.0	$	0.1	$	0.2
Liability Derivatives
Derivatives Designated as Cash Flow Hedges
Foreign exchange contracts	$	1.9	$	2.6	$	5.4
Commodity contracts	2.4		—		—
Total	$	4.3	$	2.6	$	5.4
Other Hedging Activity
Foreign exchange contracts	$	0.1	$	0.3	$	0.3

As of July 2, 2022, December 31, 2021 and July 3, 2021, asset derivatives are included within Prepaid expenses and other and Other long-term assets, and liability derivatives are included within Accrued expenses and Other long-term liabilities in the Condensed Consolidated Balance Sheets.

Effect of Derivative Instruments on the Condensed Consolidated Statements of Comprehensive Income

The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended July 2, 2022 and July 3, 2021 is as shown in the tables below.

The amount of gain (loss) on derivatives recognized in Accumulated other comprehensive loss was as follows:

(in millions)	Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	$	—	$	(7.0)	$	5.3	$	2.8
Foreign exchange contracts	25.3		(2.2)		27.9		0.4
Commodity contracts	(5.7)		2.2		(0.7)		4.3
Total	$	19.6	$	(7.0)	$	32.5	$	7.5
Derivatives Designated as Net Investment Hedging Instruments
Cross-currency swaps	$	15.2	$	5.9	$	16.6	$	5.9

The amount of gain (loss) reclassified from Accumulated other comprehensive loss into earnings was as follows:

(in millions)		Three Months Ended				Six Months Ended
Derivatives Designated as Cash Flow Hedging Instruments	Location of Gain (Loss)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Interest rate contracts	Interest expense	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)
Foreign exchange contracts	Cost of sales	5.3		(4.0)		8.0		(7.1)
Commodity contracts	Cost of sales	2.3		1.2		3.9		1.5
Total		$	7.5	$	(3.0)	$	11.8	$	(5.9)
Derivatives Designated as Fair Value Hedging Instruments
Interest rate contracts	Interest expense	$	0.1	$	0.1	$	0.3	$	0.3
Other Hedging Activity
Foreign exchange contracts	Cost of sales	$	5.4	$	(2.8)	$	1.8	$	(1.0)
Foreign exchange contracts	Other expense, net	0.2		(0.2)		0.2		(2.4)
Total		$	5.6	$	(3.0)	$	2.0	$	(3.4)

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Fair Value Measurements (Tables)

6 Months Ended

Jul. 02, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:

(in millions)		Fair Value
Category	Fair Value Level	July 2, 2022		December 31, 2021		July 3, 2021
Cash equivalents	1	$	39.2	$	0.4	$	0.2
Short-term investments in marketable securities	1	37.0		0.8		0.8
Restricted cash	1	11.9		12.2		9.7
Derivatives assets	2	40.5		25.1		15.6
Derivative liabilities	2	4.4		2.9		5.7
Deferred compensation	1	1.4		1.4		1.4
Deferred compensation	2	14.2		17.7		16.8
Liabilities measured at net asset value		10.4		10.2		9.3

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Commitments and Contingencies (Tables)

6 Months Ended

Jul. 02, 2022

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 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	129.3	$	115.9
Payments - Recurring	(29.2)		(31.1)
Provisions/additions for contracts issued/sold	41.1		37.8
Aggregate changes for preexisting warranties	(0.2)		(1.8)
Foreign currency translation	(1.3)		(0.2)
Other	(0.9)		(2.9)
Balance at end of period	$	138.8	$	117.7

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 2, 2022 and July 3, 2021:

(in millions)	July 2, 2022		July 3, 2021
Balance at beginning of period	$	99.5	$	87.4
Extended warranty contracts sold	20.1		18.7
Revenue recognized on existing extended warranty contracts	(11.0)		(9.7)
Foreign currency translation	—		0.3
Other	(0.3)		(0.3)
Balance at end of period	$	108.3	$	96.4

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Goodwill and Intangibles (Tables)

6 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes in the Company's goodwill during the six months ended July 2, 2022 and July 3, 2021, by segment, are summarized below:

(in millions)	Propulsion		Parts & Accessories		Boat		Total
December 31, 2021	$	14.7	$	814.9	$	58.8	$	888.4
Acquisitions	—		—		79.5		79.5
Adjustments	(0.8)		(0.5)		0.1		(1.2)
July 2, 2022	$	13.9	$	814.4	$	138.4	$	966.7
December 31, 2020	$	15.3	$	372.5	$	29.9	$	417.7
Acquisitions	—		—		16.8		16.8
Adjustments	(0.2)		—		—		(0.2)
July 3, 2021	$	15.1	$	372.5	$	46.7	$	434.3

Schedule of Other Intangible Assets [Table Text Block]

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of July 2, 2022, December 31, 2021 and July 3, 2021, are summarized by intangible asset type below:

	July 2, 2022				December 31, 2021				July 3, 2021
(in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Intangible assets:
Customer relationships	$	897.4	$	(362.4)	$	889.4	$	(340.9)	$	687.6	$	(322.3)
Trade names	305.4		—		306.1		—		166.3		—
Developed technology	160.0		(8.0)		160.0		(2.7)		—		—
Other	74.3		(28.5)		62.0		(21.8)		18.5		(13.8)
Total	$	1,437.1	$	(398.9)	$	1,417.5	$	(365.4)	$	872.4	$	(336.1)

Other intangible assets primarily consist of software, patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $15.4 million and $31.3 million for three and six months ended July 2, 2022, respectively. Aggregate amortization expense for intangibles was $8.0 million and $16.0 million for three and six months ended July 3, 2021, respectively.

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Segment Data (Tables)

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Operating Segments

	Net Sales								Operating Earnings (Loss)
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Propulsion	$	734.2	$	649.5	$	1,440.1	$	1,307.3	$	142.0	$	122.1	$	267.3	$	246.6
Parts & Accessories	651.5		548.9		1,269.3		1,008.5		108.2		114.4		199.8		206.3
Boat	568.4		449.1		1,061.2		868.6		58.9		44.2		104.2		85.0
Corporate/Other	—		—		—		—		(30.1)		(30.5)		(52.8)		(55.8)
Segment Eliminations	(118.5)		(92.7)		(239.3)		(196.4)		—		—		—		—
Total	$	1,835.6	$	1,554.8	$	3,531.3	$	2,988.0	$	279.0	$	250.2	$	518.5	$	482.1

	Total Assets
(in millions)	July 2, 2022		December 31, 2021		July 3, 2021
Propulsion	$	1,400.0	$	1,225.2	$	1,095.1
Parts & Accessories	3,055.3		2,939.4		1,640.7
Boat	816.4		609.9		564.0
Corporate/Other	894.8		650.5		838.7
Total	$	6,166.5	$	5,425.0	$	4,138.5

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Comprehensive Income (Tables)

6 Months Ended

Jul. 02, 2022

Comprehensive Income [Abstract]

Changes in the Components in Accumulated Other Comprehensive Income (Loss)

Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three and six months ended July 2, 2022 and July 3, 2021 are as follows:

	Three Months Ended				Six Months Ended
(in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net earnings	$	197.3	$	179.4	$	371.5	$	348.7
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(32.6)		3.2		(30.5)		(4.3)
Net change in unamortized prior service credits	—		—		—		(0.2)
Net change in unamortized actuarial gains	0.3		0.1		0.5		0.3
Net change in unrealized derivative gains	20.0		1.3		27.6		14.4
Total other comprehensive income	(12.3)		4.6		(2.4)		10.2
Comprehensive income	$	185.0	$	184.0	$	369.1	$	358.9

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(32.4)	$	(3.7)	$	(3.2)	$	0.2	$	17.5	$	(21.6)
Other comprehensive (loss) income before reclassifications (A)	(32.6)		—		—		—		25.6		(7.0)
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.3		—		(5.6)		(5.3)
Net other comprehensive income	(32.6)		—		0.3		—		20.0		(12.3)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the three months ended July 2, 2022 were $1.5 million for foreign currency translation and $(9.2) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 2, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the six months ended July 2, 2022:

(in millions)	Foreign currency translation		Prior service credits		Net actuarial losses		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(34.5)	$	(3.7)	$	(3.4)	$	0.2	$	9.9	$	(31.5)
Other comprehensive (loss) income before reclassifications (A)	(30.5)		—		—		—		36.4		5.9
Amounts reclassified from Accumulated other comprehensive loss (income) (B)	—		—		0.5		—		(8.8)		(8.3)
Net other comprehensive (loss) income	(30.5)		—		0.5		—		27.6		(2.4)
Ending balance	$	(65.0)	$	(3.7)	$	(2.9)	$	0.2	$	37.5	$	(33.9)

(A) The tax effects for the six months ended July 2, 2022 were $3.1 million for foreign currency translation and $(12.7) million for derivatives.

(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 2, 2022.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and six months ended July 2, 2022 and July 3, 2021:

	Three Months Ended				Six Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021		Affected line item in the statement where net income is presented
Amortization of defined benefit items:
Prior service credits	$	—	$	—	$	—	$	0.2	Other income (expense), net
Net actuarial losses	(0.3)		(0.2)		(0.5)		(0.4)		Other income (expense), net
	(0.3)		(0.2)		(0.5)		(0.2)		Earnings before income taxes
	—		0.1		—		0.1		Income tax provision
	$	(0.3)	$	(0.1)	$	(0.5)	$	(0.1)	Net earnings from continuing operations
Amount of (loss) gain reclassified into earnings on derivative contracts:
Interest rate contracts	$	(0.1)	$	(0.2)	$	(0.1)	$	(0.3)	Interest expense
Foreign exchange contracts	5.3		(4.0)		8.0		(7.1)		Cost of sales
Commodity contracts	2.3		1.2		3.9		1.5		Cost of sales
	7.5		(3.0)		11.8		(5.9)		Earnings before income taxes
	(1.9)		0.8		(3.0)		1.6		Income tax provision
	$	5.6	$	(2.2)	$	8.8	$	(4.3)	Net earnings from continuing operations

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Debt (Tables)

6 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The following table provides the changes in the Company's long-term debt for the six months ended July 2, 2022:

(in millions)	Short-term debt and current maturities of long-term debt		Long-term debt		Total
Balance as of December 31, 2021	$	37.4	$	1,779.0	$	1,816.4
Proceeds from issuances of debt	0.9		741.8		742.7
Repayments of long-term debt	(36.2)		(21.8)		(58.0)
Other	0.9		—		0.9
Balance as of July 2, 2022	$	3.0	$	2,499.0	$	2,502.0

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Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,835.6	$ 1,554.8	$ 3,531.3	$ 2,988.0
Rest-of-World [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	75.9	56.3	145.6	119.0
Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	134.0	125.1	259.9	224.1
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,351.0	1,110.2	2,579.6	2,156.4
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	274.0	242.1	541.0	456.2
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	119.2	113.8	244.5	228.7
Boat Eliminations
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(2.5)	(3.5)	(3.5)	(6.7)
Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	635.5	541.8	1,241.7	992.6
Parts and Accessories [Member] | Rest-of-World [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16.3	13.2	35.2	29.1
Parts and Accessories [Member] | Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39.1	34.2	69.6	59.6
Parts and Accessories [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	444.3	391.7	851.8	704.0
Parts and Accessories [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	99.6	69.9	207.6	133.4
Parts and Accessories [Member] | Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	52.2	39.9	105.1	82.4
Parts and Accessories [Member] | Boat Eliminations
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	568.2	449.1	1,061.0	868.6
Boat [Member] | Rest-of-World [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	11.4	8.4	18.9	18.6
Boat [Member] | Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	70.4	66.8	132.6	115.2
Boat [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	423.1	314.1	791.5	626.7
Boat [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	56.0	52.5	101.6	94.1
Boat [Member] | Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	7.5	7.3	16.6	14.0
Boat [Member] | Boat Eliminations
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(2.5)	(3.5)	(3.5)	(6.7)
Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	631.9	563.9	1,228.6	1,126.8
Propulsion [Member] | Rest-of-World [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	48.2	34.7	91.5	71.3
Propulsion [Member] | Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	24.5	24.1	57.7	49.3
Propulsion [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	483.6	404.4	936.3	825.7
Propulsion [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	118.4	119.7	231.8	228.7
Propulsion [Member] | Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	59.5	66.6	122.8	132.3
Propulsion [Member] | Boat Eliminations
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Outboard Engines [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	565.8	494.2	1,111.9	998.7
Outboard Engines [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Outboard Engines [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Outboard Engines [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	565.8	494.2	1,111.9	998.7
Controls, Rigging, and Propellers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	106.4	96.1	204.9	191.0
Controls, Rigging, and Propellers [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Controls, Rigging, and Propellers [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Controls, Rigging, and Propellers [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	106.4	96.1	204.9	191.0
Sterndrive Engine [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	62.0	59.2	123.3	117.6
Sterndrive Engine [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Sterndrive Engine [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Sterndrive Engine [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	62.0	59.2	123.3	117.6
Distribution [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	231.4	255.2	434.9	455.8
Distribution [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	231.4	255.2	434.9	455.8
Distribution [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Distribution [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Advanced Systems Group [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	159.2	138.3	311.1	273.1
Advanced Systems Group [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	159.2	138.3	311.1	273.1
Advanced Systems Group [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Advanced Systems Group [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Engine Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	146.7	155.4	272.3	279.6
Engine Parts and Accessories [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	146.7	155.4	272.3	279.6
Engine Parts and Accessories [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Engine Parts and Accessories [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Aluminum Freshwater Boats [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	237.4	190.1	458.0	367.9
Aluminum Freshwater Boats [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Aluminum Freshwater Boats [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	237.4	190.1	458.0	367.9
Aluminum Freshwater Boats [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Recreational Fiberglass Boats [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	187.4	154.2	351.8	289.6
Recreational Fiberglass Boats [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Recreational Fiberglass Boats [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	187.4	154.2	351.8	289.6
Recreational Fiberglass Boats [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Saltwater Fishing Boats [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	110.3	93.0	199.5	189.8
Saltwater Fishing Boats [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Saltwater Fishing Boats [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	110.3	93.0	199.5	189.8
Saltwater Fishing Boats [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Business Acceleration [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35.8	15.3	55.4	28.0
Business Acceleration [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Business Acceleration [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35.8	15.3	55.4	28.0
Business Acceleration [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Navico
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	114.2	0.0	251.0	0.0
Navico | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	114.2	0.0	251.0	0.0
Navico | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Navico | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.0	0.0	0.0	0.0
Segment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(118.5)	(92.7)	(239.3)	(196.4)
Segment Eliminations [Member] | Parts and Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(16.0)	(7.1)	(27.6)	(15.9)
Segment Eliminations [Member] | Boat [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(0.2)	0.0	(0.2)	0.0
Segment Eliminations [Member] | Propulsion [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (102.3)	$ (85.6)	$ (211.5)	$ (180.5)

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Revenue Recognition - Contracts with Customer (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 02, 2022	Jul. 02, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	$ 181.2	$ 181.2	$ 142.1
Contract with Customer, Liability, Revenue Recognized	$ 10.5	$ 24.8

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Revenue Recognition - Performance Obligations (Details) $ in Millions	Jul. 02, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 168.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 29.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 50.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 89.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

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Acquisitions (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Oct. 04, 2021

Jul. 02, 2022

Jul. 03, 2021

Jul. 02, 2022

Jul. 03, 2021

May 10, 2022

Dec. 31, 2021

Dec. 31, 2020

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisitions

2022 Acquisitions

During the second quarter of 2022, the Company acquired certain Freedom Boat Club franchise operations and territory rights as well as certain marine assets in the Southeast United States. These acquisitions enable opportunities across a wide spectrum, building upon the growth Brunswick has cultivated throughout the Company's shared access portfolio and new digital platforms. These acquisitions are included as part of the Company's Boat segment.

The Company paid net cash consideration of $95.7 million for these acquisitions. The opening balance sheets, which are preliminary and subject to change in the measurement period as the Company finalizes the purchase price allocation and fair value estimates, include $79.5 million of goodwill and $9.1 million of customer relationships. The amount assigned to customer relationships will be amortized over the estimated useful life of 10 years. Transaction costs associated with these acquisitions of $1.2 million were expensed as incurred within Selling, general and administrative expense during the six months ended July 2, 2022. The acquisitions are not material to the Company's net sales, results of operations, or total assets during any period presented. Accordingly, the Company's consolidated results of operations do not differ materially from historical performance as a result of the acquisitions, and pro forma results are not presented.

2021 Acquisitions

On October 4, 2021, the Company acquired all the issued and outstanding shares of Marine Innovations Group AS, known as "Navico", for $1.094 billion net cash consideration. The Company used a combination of the notes issued in the third quarter of 2021 and cash on hand to fund the acquisition.

Navico was a privately held global company based in Egersund, Norway, and is a global leader in marine electronics and sensors, including multi-function displays, fish finders, autopilots, sonar, radar, and cartography. The acquisition of Navico accelerates the Company's ACES ("Autonomy, Connectivity, Electrification, and Shared access") strategy and strengthens the Company's ability to provide complete, innovative digital solutions to consumers and comprehensive, integrated system offerings to the Company's original equipment manufacturer customers. Navico is managed as part of the Company's Parts & Accessories segment.

The Company used the acquisition method of accounting in accordance with ASC 805, Business Combinations, with Brunswick being the acquiring entity, and reflecting estimates and assumptions deemed appropriate by Company management.

The purchase price allocation for certain deferred tax balances and contingency reserves is preliminary and subject to change within the allowed measurement period as the Company finalizes its fair value estimates. The following table is a summary of the assets acquired, liabilities assumed and net cash consideration paid, net of cash acquired, for the Navico acquisition:

(in millions)	Fair Value		Useful Life
Accounts and notes receivable	$	59.3
Inventory	161.7
Goodwill (A) (B)	437.0
Trade names	133.0		Indefinite
Developed technology	160.0		15 years
Customer relationships	185.0		15 years
Property and equipment	46.1
Other assets	26.9
Total assets acquired	1,209.0
Accounts payable	66.0
Accrued expenses (B)	46.6
Other liabilities	24.0
Total liabilities assumed	136.6
Net cash consideration paid, net of cash acquired	$	1,072.4

(A) The goodwill recorded for the acquisition of Navico is partially deductible for tax purposes.

(B) Includes $1.5 million of purchase accounting adjustments for the six months ended July 2, 2022 related to contingency reserves.

Pro Forma Financial Information (Unaudited)

The pro forma information has been prepared as if the Navico acquisition and the related debt financing had occurred on January 1, 2021. These pro forma results are based on estimates and assumptions which the Company believes to be reasonable. They are not the results that would have been realized had the acquisition actually occurred on January 1, 2021 and are not necessarily indicative of Brunswick's consolidated net earnings in future periods. The pro forma results include adjustments primarily related to the amortization of intangible assets and interest expense on the notes issued in the third quarter of 2021. Additionally, non-recurring pro forma adjustments include transaction costs of $0.8 million and $14.8 million and expenses related to inventory fair value adjustments of $9.0 million and $18.1 million for the three and six months ended July 3, 2021, respectively, recognized as part of the application of purchase accounting.

(in millions)	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Pro forma Net sales	$	1,835.6	$	1,683.8	$	3,531.3	$	3,257.7
Pro forma Net earnings	197.9		180.8		379.4		353.9

The pro forma results reflect a statutory income tax rate of 21 percent for the three and six months ended July 2, 2022 and July 3, 2021.

Other 2021 Acquisitions

On September 1, 2021, the Company acquired substantially all the net assets of RELiON Battery, LLC ("RELiON"). RELiON is a global provider of lithium batteries and related products to multiple industry sectors. The acquisition of RELiON complements the Company's existing portfolio of advanced battery and power management brands. On September 17, 2021, the Company acquired substantially all the net assets of SemahTronix, LLC, a global supplier of high-complexity electrical wiring harnesses for advanced products in the marine, mobile, and defense industries. The acquisition of the SemahTronix assets enhances the Company's integrated systems offerings by providing the Company's ASG organization and the Company's global customers access to high-quality, large, complex electrical wire harnessing systems that further enable the Company's end-to-end systems solutions and capabilities. These acquisitions are included as part of the Parts & Accessories segment.

On July 9, 2021, the Company acquired Fanautic Club, one of the largest European boat clubs with 23 locations in major coastal cities and tourist centers across Spain. The Company also acquired certain Freedom Boat Club franchise operations and territory rights in the United States during 2021. Acquiring such assets enables Brunswick to accelerate growth by increasing its investments in these markets. These acquisitions are included as part of the Boat segment.

The Company paid net cash consideration of $66.2 million for these acquisitions. The opening balance sheets include $36.8 million of goodwill and $24.1 million of identifiable intangible assets, including customer relationships and trade names of $17.2 million and $6.9 million, respectively. The amount assigned to customer relationships will be amortized over the estimated useful life of 10 years. These acquisitions are not material to the Company's net sales, results of operations or total assets during any period presented. Accordingly, the Company's consolidated results of operations do not differ materially from historical performance as a result of the acquisitions, and pro forma results are not presented.

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information

The pro forma information has been prepared as if the Navico acquisition and the related debt financing had occurred on January 1, 2021. These pro forma results are based on estimates and assumptions which the Company believes to be reasonable. They are not the results that would have been realized had the acquisition actually occurred on January 1, 2021 and are not necessarily indicative of Brunswick's consolidated net earnings in future periods. The pro forma results include adjustments primarily related to the amortization of intangible assets and interest expense on the notes issued in the third quarter of 2021. Additionally, non-recurring pro forma adjustments include transaction costs of $0.8 million and $14.8 million and expenses related to inventory fair value adjustments of $9.0 million and $18.1 million for the three and six months ended July 3, 2021, respectively, recognized as part of the application of purchase accounting.

(in millions)	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Pro forma Net sales	$	1,835.6	$	1,683.8	$	3,531.3	$	3,257.7
Pro forma Net earnings	197.9		180.8		379.4		353.9

The pro forma results reflect a statutory income tax rate of 21 percent for the three and six months ended July 2, 2022 and July 3, 2021.

Business Combination, Consideration Transferred

$ 66.2

Goodwill

$ 966.7

$ 434.3

$ 966.7

$ 434.3

$ 888.4

$ 417.7

Customer Relationships

$ 24.1

$ 24.1

Effective Tax Rate From Continuing Operations

21.90%

23.50%

21.50%

22.70%

Goodwill, Purchase Accounting Adjustments

$ 1.9

Goodwill, Translation and Purchase Accounting Adjustments

$ 1.5

Amortization Expense for Intangibles

15.4

$ 8.0

31.3

$ 16.0

Interest Expense

25.9

15.4

44.3

30.2

Freedom Boat Club Franchises

Business Acquisition [Line Items]

Business Combination, Consideration Transferred

95.7

Goodwill

$ 79.5

Freedom Boat Club Franchises | Selling, General and Administrative Expenses [Member]

Business Acquisition [Line Items]

Business Acquisition, Transaction Costs

1.2

1.2

Navico

Business Acquisition [Line Items]

Business Combination, Consideration Transferred

$ 1,094.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables

59.3

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory

161.7

Goodwill

^[1],[2]

437.0

Trade Names

133.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment

46.1

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets

26.9

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets

1,209.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable

66.0

Accrued Expenses

^[2]

46.6

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other

24.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities

136.6

Payments to Acquire Businesses, Net of Cash Acquired

1,072.4

Business Acquisition, Pro Forma Revenue

1,835.6

1,683.8

3,531.3

3,257.7

Business Acquisition, Pro Forma Net Income (Loss)

197.9

180.8

$ 379.4

$ 353.9

Effective Tax Rate From Continuing Operations

21.00%

21.00%

Business Combination, Acquisition Related Costs

0.8

$ 14.8

Business Combination, Separately Recognized Transactions, Fair Value Adjustment for Inventory

$ 9.0

$ 18.1

Goodwill

Business Acquisition [Line Items]

Customer Relationships

36.8

$ 36.8

Technology-Based Intangible Assets | Navico

Business Acquisition [Line Items]

Customer Relationships

160.0

Useful Life

15 years

Customer Relationships [Member]

Business Acquisition [Line Items]

Customer Relationships

17.2

$ 17.2

Customer Relationships [Member] | Freedom Boat Club Franchises

Business Acquisition [Line Items]

Business Combination, Consideration Transferred

9.1

Useful Life

10 years

Customer Relationships [Member] | Navico

Business Acquisition [Line Items]

Customer Relationships

$ 185.0

Useful Life

15 years

Trade Names [Member]

Business Acquisition [Line Items]

Customer Relationships

$ 6.9

$ 6.9

[1] (A) The goodwill recorded for the acquisition of Navico is partially deductible for tax purposes.

[2] (B) Includes $1.5 million of purchase accounting adjustments for the six months ended July 2, 2022 related to contingency reserves.

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Restructuring, Exit and Integration Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Restructuring Cost and Reserve [Line Items]
Total Restructuring, Exit and Impairment Charges	$ 0.0	$ 0.2	$ 0.0	$ 0.7

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Financial Instruments Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 02, 2022	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021	Jun. 27, 2020
Commodity Contract [Member]
Derivative [Line Items]
Notional Values		$ 22.6	$ 11.2	$ 25.3
Cash Flow Hedge Gain (Loss) to be Reclassified Within Twelve Months		(2.2)
Foreign Exchange Forward [Member]
Derivative [Line Items]
Notional Values		650.0	481.1	519.8
Foreign Exchange Option [Member]
Derivative [Line Items]
Notional Values		0.0	0.0	0.0
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified Within Twelve Months		23.4
Interest Rate Swap [Member]
Derivative [Line Items]
Notional Values		0.0	150.0	0.0	$ 0.0
Amount of Gain (Loss) Estimated to be Reclassified from Accumulated Other Comprehensive Loss to Cost of Sales or Interest Expense	$ 1.6
Forward-Starting Interest Rate Swap [Member]
Derivative [Line Items]
Notional Values		0.0		0.0
Cash Flow Hedge Gain (Loss) to be Reclassified Within Twelve Months		(0.4)
Amount of Gain (Loss) Estimated to be Reclassified from Accumulated Other Comprehensive Loss to Cost of Sales or Interest Expense	(2.4)	3.0	1.7
Cross Currency Interest Rate Contract
Derivative [Line Items]
Notional Values		250.0	200.0	200.0
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax		16.7
Treasury Lock
Derivative [Line Items]
Amount of Gain (Loss) Estimated to be Reclassified from Accumulated Other Comprehensive Loss to Cost of Sales or Interest Expense	$ 5.1
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		24.3	9.5	10.7
Derivative Liability, Fair Value, Gross Liability		4.3	5.4	2.6
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Prepaid Expenses and Other Current Assets [Member] | Commodity Contract [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		0.0	3.3	1.9
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Prepaid Expenses and Other Current Assets [Member] | Foreign Exchange Contracts [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		24.3	3.4	8.8
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Prepaid Expenses and Other Current Assets [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset		0.0	2.8	0.0
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Accrued Expenses [Member] | Commodity Contract [Member]
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability		2.4	0.0	0.0
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member] | Accrued Expenses [Member] | Foreign Exchange Contracts [Member]
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability		$ 1.9	$ 5.4	$ 2.6

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Financial Instruments, Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Other Hedging Activity [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 5.6	$ (3.0)	$ 2.0	$ (3.4)
Cash Flow Hedging [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	19.6	(7.0)	32.5	7.5
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7.5	(3.0)	11.8	(5.9)
Derivative Asset, Fair Value, Gross Asset	24.3	9.5	24.3	9.5	$ 10.7
Derivative Liability, Fair Value, Gross Liability	4.3	5.4	4.3	5.4	2.6
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0.0	(7.0)	5.3	2.8
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	25.3	(2.2)	27.9	0.4
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	24.3	3.4	24.3	3.4	8.8
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Accrued Expenses [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	1.9	5.4	1.9	5.4	2.6
Cash Flow Hedging [Member] | Commodity Contract [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(5.7)	2.2	(0.7)	4.3
Cash Flow Hedging [Member] | Commodity Contract [Member] | Prepaid Expenses and Other Current Assets [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0.0	3.3	0.0	3.3	1.9
Cash Flow Hedging [Member] | Commodity Contract [Member] | Accrued Expenses [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2.4	0.0	2.4	0.0	0.0
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0.0	2.8	0.0	2.8	0.0
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Other Hedging Activity [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	2.0	0.2	2.0	0.2	0.1
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | Accrued Expenses [Member] | Other Hedging Activity [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	0.1	0.3	0.1	0.3	0.3
Net Investment Hedging | Interest Rate Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	14.2	5.9	14.2	5.9	$ 14.3
Cost of Sales [Member] | Foreign Exchange Contracts [Member] | Other Hedging Activity [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	5.4	(2.8)	1.8	(1.0)
Cost of Sales [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	5.3	(4.0)	8.0	(7.1)
Cost of Sales [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 2.3	$ 1.2	$ 3.9	$ 1.5

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Financial Instruments, Condensed Consolidated Statements of Comprehensive Income, Effect of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Other Hedging Activity [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 5.6	$ (3.0)	$ 2.0	$ (3.4)
Foreign Exchange Contracts [Member] | Cost of Sales [Member] | Other Hedging Activity [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	5.4	(2.8)	1.8	(1.0)
Foreign Exchange Contracts [Member] | Other Income (Expense), Net | Other Hedging Activity [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0.2	(0.2)	0.2	(2.4)
Cash Flow Hedging [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	19.6	(7.0)	32.5	7.5
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7.5	(3.0)	11.8	(5.9)
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0.0	(7.0)	5.3	2.8
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(0.1)	(0.2)	(0.1)	(0.3)
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	25.3	(2.2)	27.9	0.4
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Cost of Sales [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	5.3	(4.0)	8.0	(7.1)
Cash Flow Hedging [Member] | Commodity Contract [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(5.7)	2.2	(0.7)	4.3
Cash Flow Hedging [Member] | Commodity Contract [Member] | Cost of Sales [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2.3	1.2	3.9	1.5
Cash Flow Hedging [Member] | Cross Currency Interest Rate Contract | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	15.2	5.9	16.6	5.9
Fair Value Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0.1	$ 0.1	$ 0.3	$ 0.3

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Financial Instruments, Fair Value of Other Financial Instruments (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of the Company's Long-Term Debt Including Current Maturities	$ 2,272.0	$ 1,914.7	$ 1,001.4
Long-Term Debt	$ 2,534.9	$ 1,843.1	$ 895.6

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Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021
Liabilities:
Fair Value Measurement [Domain]	$ 10.4	$ 10.2	$ 9.3
Level 1 [Member]
Assets:
Cash Equivalents	39.2	0.4	0.2
Short-Term Investments in Marketable Securities	37.0	0.8	0.8
Restricted Cash	11.9	12.2	9.7
Liabilities:
Deferred Compensation	1.4	1.4	1.4
Level 2 [Member]
Assets:
Derivative Asset, Fair Value, Gross Asset	40.5	25.1	15.6
Liabilities:
Derivative Liability, Fair Value, Gross Liability	4.4	2.9	5.7
Deferred Compensation	$ 14.2	$ 17.7	$ 16.8

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Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Activity Related to Product Warranty Liabilities [Roll Forward]
Balance at Beginning of Period	$ 129.3	$ 115.9
Payments Made	(29.2)	(31.1)
Provisions/Additions for Contracts Issued/Sold	41.1	37.8
Aggregate Changes for Preexisting Warranties	(0.2)	(1.8)
Foreign Currency Translation	(1.3)	(0.2)
Other	(0.9)	(2.9)
Balance at End of Period	138.8	117.7
Activity Related to Extended Product Warranty Accrual [Roll Forward]
Balance at Beginning of Period	99.5	87.4
Extended Warranty Contracts Sold	20.1	18.7
Revenue Recognized on Existing Extended Warranty Contracts	(11.0)	(9.7)
Foreign Currency Translation	0.0	0.3
Other	(0.3)	(0.3)
Balance at End of Period	$ 108.3	$ 96.4

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Goodwill and Intangibles Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Acquisitions			$ 79.5	$ 16.8
Goodwill, Impaired, Accumulated Impairment Loss	$ 0.0	$ 0.0	0.0	0.0	$ 0.0
Goodwill, Other Increase (Decrease)			(1.2)	(0.2)
Goodwill	966.7	434.3	966.7	434.3	888.4	$ 417.7
Amortization Expense for Intangibles	15.4	8.0	31.3	16.0
Goodwill, Purchase Accounting Adjustments	1.9
Propulsion [Member]
Goodwill [Roll Forward]
Acquisitions			0.0	0.0
Goodwill, Other Increase (Decrease)			(0.8)	(0.2)
Goodwill	13.9	15.1	13.9	15.1	14.7	15.3
Parts and Accessories [Member]
Goodwill [Roll Forward]
Acquisitions			0.0	0.0
Goodwill, Other Increase (Decrease)			(0.5)	0.0
Goodwill	814.4	372.5	814.4	372.5	814.9	372.5
Boat [Member]
Goodwill [Roll Forward]
Acquisitions			79.5	16.8
Goodwill, Other Increase (Decrease)			0.1	0.0
Goodwill	$ 138.4	$ 46.7	$ 138.4	$ 46.7	$ 58.8	$ 29.9
Customer Relationships [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Asset, Weighted Average Remaining Useful Life			13 years 3 months 18 days
Other Intangible Assets [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Asset, Weighted Average Remaining Useful Life			11 years 8 months 12 days

XML

Goodwill and Intangibles Finite-Lived Intangibles (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 966.7	$ 434.3	$ 966.7	$ 434.3	$ 888.4	$ 417.7
Acquisitions			79.5	16.8
Goodwill, Other Increase (Decrease)			(1.2)	(0.2)
Gross Amount	1,437.1	872.4	1,437.1	872.4	1,417.5
Accumulated Amortization	(398.9)	(336.1)	(398.9)	(336.1)	(365.4)
Amortization Expense for Intangibles	15.4	8.0	31.3	16.0
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	305.4	166.3	305.4	166.3	306.1
Accumulated Amortization	0.0	0.0	0.0	0.0	0.0
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	897.4	687.6	897.4	687.6	889.4
Accumulated Amortization	(362.4)	(322.3)	(362.4)	(322.3)	(340.9)
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Amount	74.3	18.5	74.3	18.5	62.0
Accumulated Amortization	(28.5)	(13.8)	(28.5)	(13.8)	(21.8)
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Gross Amount	160.0	0.0	160.0	0.0	160.0
Accumulated Amortization	(8.0)	0.0	(8.0)	0.0	(2.7)
Propulsion [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	13.9	15.1	13.9	15.1	14.7	15.3
Acquisitions			0.0	0.0
Goodwill, Other Increase (Decrease)			(0.8)	(0.2)
Parts and Accessories [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	814.4	372.5	814.4	372.5	814.9	372.5
Acquisitions			0.0	0.0
Goodwill, Other Increase (Decrease)			(0.5)	0.0
Boat [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 138.4	$ 46.7	138.4	46.7	$ 58.8	$ 29.9
Acquisitions			79.5	16.8
Goodwill, Other Increase (Decrease)			$ 0.1	$ 0.0

XML

Segment Data (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net Sales	$ 1,835.6	$ 1,554.8	$ 3,531.3	$ 2,988.0
Operating Income (Loss)	279.0	250.2	518.5	482.1
Total Assets	6,166.5	4,138.5	6,166.5	4,138.5	$ 5,425.0
Segment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Sales	(118.5)	(92.7)	(239.3)	(196.4)
Operating Income (Loss)	0.0	0.0	0.0	0.0
Propulsion [Member]
Segment Reporting Information [Line Items]
Net Sales	734.2	649.5	1,440.1	1,307.3
Operating Income (Loss)	142.0	122.1	267.3	246.6
Total Assets	1,400.0	1,095.1	1,400.0	1,095.1	1,225.2
Parts and Accessories [Member]
Segment Reporting Information [Line Items]
Net Sales	651.5	548.9	1,269.3	1,008.5
Operating Income (Loss)	108.2	114.4	199.8	206.3
Total Assets	3,055.3	1,640.7	3,055.3	1,640.7	2,939.4
Boat [Member]
Segment Reporting Information [Line Items]
Net Sales	568.4	449.1	1,061.2	868.6
Operating Income (Loss)	58.9	44.2	104.2	85.0
Total Assets	816.4	564.0	816.4	564.0	609.9
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Net Sales	0.0	0.0	0.0	0.0
Operating Income (Loss)	(30.1)	(30.5)	(52.8)	(55.8)
Total Assets	$ 894.8	$ 838.7	$ 894.8	$ 838.7	$ 650.5

XML

Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						6 Months Ended
	Jul. 02, 2022		Apr. 02, 2022	Jul. 03, 2021		Apr. 03, 2021	Jul. 02, 2022		Jul. 03, 2021
Comprehensive Income [Abstract]
Net Earnings (Loss)	$ 197.3		$ 174.2	$ 179.4		$ 169.3	$ 371.5		$ 348.7
Foreign Currency Cumulative Translation Adjustment	(32.6)			3.2			(30.5)		(4.3)
Net Change in Unamortized Prior Service Credits	0.0			0.0			0.0		(0.2)
Net Change in Unamortized Actuarial Losses	0.3			0.1			0.5		0.3
Net Change in Unrealized Derivative Losses	20.0			1.3			27.6		14.4
Total Other Comprehensive Income (Loss)	(12.3)			4.6			(2.4)		10.2
Comprehensive Income (loss)	185.0			184.0			369.1		358.9
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	(21.6)		(31.5)	(37.1)		(42.7)	(31.5)		(42.7)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	(7.0)	[1]		2.3	[2]		5.9	[3]	5.8	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	(5.3)	[5]		2.3	[6]		(8.3)	[7]	4.4	[8]
Net Other Comprehensive Income (Loss)	(12.3)		9.9	4.6		5.6	(2.4)		10.2
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	(33.9)		$ (21.6)	(32.5)		$ (37.1)	(33.9)		(32.5)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent [Abstract]
Foreign Currency Translation Adjustments Arising During Period, Tax Effect	1.5			(0.9)			3.1		0.0
Gains (Losses) on Derivatives Arising During Period, Tax Effect	(9.2)			$ 0.2			(12.7)		(3.4)
Cash Dividends Declared Per Common Share (in Dollars per Share)			$ 0.365	$ 0.335		$ 0.27
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	(32.4)		$ (34.5)	$ (22.6)		$ (15.1)	(34.5)		(15.1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	(32.6)	[1]		3.2	[2]		(30.5)	[3]	(4.3)	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]		0.0	[6]		0.0	[7]	0.0	[8]
Net Other Comprehensive Income (Loss)	(32.6)			3.2			(30.5)		(4.3)
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	(65.0)		(32.4)	(19.4)		(22.6)	(65.0)		(19.4)
Prior Service Credits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	(3.7)		(3.7)	(3.7)		(3.5)	(3.7)		(3.5)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]		0.0	[2]		0.0	[3]	0.0	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]		0.0	[6]		0.0	[7]	0.2	[8]
Net Other Comprehensive Income (Loss)	0.0			0.0			0.0		(0.2)
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	(3.7)		(3.7)	(3.7)		(3.7)	(3.7)		(3.7)
Net Actuarial Losses
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	(3.2)		(3.4)	(8.7)		(8.9)	(3.4)		(8.9)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]		0.0	[2]		0.0	[3]	0.0	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	(0.3)	[5]		(0.1)	[6]		(0.5)	[7]	(0.3)	[8]
Net Other Comprehensive Income (Loss)	0.3			0.1			0.5		0.3
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	(2.9)		(3.2)	(8.6)		(8.7)	(2.9)		(8.6)
Net Derivative Losses
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	17.5		9.9	(2.1)		(15.2)	9.9		(15.2)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	25.6	[1]		(0.9)	[2]		36.4	[3]	10.1	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	5.6	[5]		(2.2)	[6]		8.8	[7]	(4.3)	[8]
Net Other Comprehensive Income (Loss)	20.0			1.3			27.6		14.4
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	37.5		17.5	$ (0.8)		$ (2.1)	37.5		$ (0.8)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Loss, Net of Tax, Beginning Balance	0.2		0.2				0.2
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]					0.0	[3]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]					0.0	[7]
Net Other Comprehensive Income (Loss)	0.0						0.0
Accumulated Other Comprehensive Loss, Net of Tax, Ending Balance	$ 0.2		$ 0.2				$ 0.2

[1] (A) The tax effects for the three months ended July 2, 2022 were $1.5 million for foreign currency translation and $(9.2) million for derivatives.

[2] The tax effects for the three months ended July 3, 2021 were $(0.9) million for foreign currency translation and $0.2 million for derivatives.

[3] (A) The tax effects for the six months ended July 2, 2022 were $3.1 million for foreign currency translation and $(12.7) million for derivatives.

[4] (A) The tax effects for the six months ended July 3, 2021 were $0.0 million for foreign currency translation and $(3.4) million for derivatives.

[5] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 2, 2022.

[6] See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 3, 2021.

[7] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 2, 2022.

[8] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 3, 2021.

XML

Comprehensive Income, Reclassification out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended
	Jul. 02, 2022		Apr. 02, 2022	Jul. 03, 2021		Apr. 03, 2021	Jul. 02, 2022		Jul. 03, 2021		Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (33.9)		$ (21.6)	$ (32.5)		$ (37.1)	$ (33.9)		$ (32.5)		$ (31.5)	$ (42.7)
Prior Service Credits	0.0			0.0			0.0		0.2
Net Actuarial Losses	(0.3)			(0.2)			(0.5)		(0.4)
Defined Benefit Items, Earnings Before Income Taxes	(0.3)			(0.2)			(0.5)		(0.2)
Defined Benefit Items, Income Tax Provision	0.0			0.1			0.0		0.1
Defined Benefit Items, Net Earnings From Continuing Operations	(0.3)			(0.1)			(0.5)		(0.1)
Derivatives, Earnings Before Income Taxes	7.5			(3.0)			11.8		(5.9)
Derivatives, Income Tax Provision	(1.9)			0.8			(3.0)		1.6
Derivatives, Net Earnings From Continuing Operations	5.6			(2.2)			8.8		(4.3)
Other Comprehensive Income (Loss) Before Reclassifications	(7.0)	[1]		2.3	[2]		5.9	[3]	5.8	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	(5.3)	[5]		2.3	[6]		(8.3)	[7]	4.4	[8]
Other Comprehensive Income	(12.3)		9.9	4.6		5.6	(2.4)		10.2
Interest Expense [Member] | Interest Rate Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Derivatives, Earnings Before Income Taxes	(0.1)			(0.2)			(0.1)		(0.3)
Cost of Sales [Member] | Foreign Exchange Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Derivatives, Earnings Before Income Taxes	5.3			(4.0)			8.0		(7.1)
Cost of Sales [Member] | Commodity Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Derivatives, Earnings Before Income Taxes	2.3			1.2			3.9		1.5
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(65.0)		(32.4)	(19.4)		(22.6)	(65.0)		(19.4)		(34.5)	(15.1)
Other Comprehensive Income (Loss) Before Reclassifications	(32.6)	[1]		3.2	[2]		(30.5)	[3]	(4.3)	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]		0.0	[6]		0.0	[7]	0.0	[8]
Other Comprehensive Income	(32.6)			3.2			(30.5)		(4.3)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(3.7)		(3.7)	(3.7)		(3.7)	(3.7)		(3.7)		(3.7)	(3.5)
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]		0.0	[2]		0.0	[3]	0.0	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]		0.0	[6]		0.0	[7]	0.2	[8]
Other Comprehensive Income	0.0			0.0			0.0		(0.2)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2.9)		(3.2)	(8.6)		(8.7)	(2.9)		(8.6)		(3.4)	(8.9)
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]		0.0	[2]		0.0	[3]	0.0	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	(0.3)	[5]		(0.1)	[6]		(0.5)	[7]	(0.3)	[8]
Other Comprehensive Income	0.3			0.1			0.5		0.3
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	37.5		17.5	(0.8)		$ (2.1)	37.5		(0.8)		9.9	$ (15.2)
Other Comprehensive Income (Loss) Before Reclassifications	25.6	[1]		(0.9)	[2]		36.4	[3]	10.1	[4]
Amounts Reclassified from Accumulated Other Comprehensive Loss	5.6	[5]		(2.2)	[6]		8.8	[7]	(4.3)	[8]
Other Comprehensive Income	20.0			$ 1.3			27.6		$ 14.4
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	0.2		$ 0.2				0.2				$ 0.2
Other Comprehensive Income (Loss) Before Reclassifications	0.0	[1]					0.0	[3]
Amounts Reclassified from Accumulated Other Comprehensive Loss	0.0	[5]					0.0	[7]
Other Comprehensive Income	$ 0.0						$ 0.0

[1] (A) The tax effects for the three months ended July 2, 2022 were $1.5 million for foreign currency translation and $(9.2) million for derivatives.

[2] The tax effects for the three months ended July 3, 2021 were $(0.9) million for foreign currency translation and $0.2 million for derivatives.

[3] (A) The tax effects for the six months ended July 2, 2022 were $3.1 million for foreign currency translation and $(12.7) million for derivatives.

[4] (A) The tax effects for the six months ended July 3, 2021 were $0.0 million for foreign currency translation and $(3.4) million for derivatives.

[5] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 2, 2022.

[6] See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended July 3, 2021.

[7] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 2, 2022.

[8] (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the six months ended July 3, 2021.

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Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Provision From Continuing Operations	$ 55.8	$ 55.2	$ 102.2	$ 102.6
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	$ 0.7	$ 6.2	$ 3.3	$ 3.2
Effective Tax Rate From Continuing Operations	21.90%	23.50%	21.50%	22.70%
Gross Unrecognized Tax Benefits, Including Interest	$ 10.3	$ 4.6	$ 10.3	$ 4.6	$ 10.1
Possible Decrease in Unrecognized Tax Benefits in the Next 12 Months	0.1		0.1
Excess Tax Benefits, Share Based Compensation	$ 0.1	$ 0.1	$ 2.9	$ 1.6

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Debt (Details) - USD ($)		3 Months Ended		6 Months Ended
	Mar. 22, 2022	Jul. 02, 2022	Apr. 02, 2022	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt				$ 100,000
Line of Credit Facility, Maximum Amount Outstanding During Period		$ 127,800,000
Commercial Paper, Maximum Amount Utilized				300,000,000
Net Proceeds from Issuances of Long-Term Debt				742,700,000
Other Debt Activity				900,000
Long-term Debt, Current Maturities		3,000,000.0		3,000,000.0	$ 37,400,000
Debt		2,499,000,000		2,499,000,000	1,779,000,000	$ 832,000,000.0
Debt, Long-term and Short-term, Combined Amount		2,502,000,000		2,502,000,000	$ 1,816,400,000
Proceeds from Issuance of Long-term Debt, Excluding Current Maturities				741,800,000
Proceeds from Issuance of Long-term Debt, Current				900,000
Repayments of Long-term debt, Current				(36,200,000)
Repayments of Long-term Debt, Excluding Current Maturities				(21,800,000)
us-gaap_RepaymentsOfLongTermDebt				(58,000,000.0)
Other Debt Activity, Long Term				0
Other Debt Activity, Current and Long Term				900,000
Proceeds from Notes Payable	$ 741,800,000
Proceeds from Issuance of Commercial Paper				500,000,000
commercial paper, maximum			$ 300,000,000	500,000,000
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity		125,000,000		125,000,000
Line of Credit Facility, Maximum Borrowing Capacity		750,000,000		750,000,000
Line of Credit Facility, Remaining Borrowing Capacity		747,200,000		747,200,000
Letters of Credit Outstanding, Amount		$ 2,800,000		2,800,000
Line of Credit Facility, Increase (Decrease), Net				$ 100,000,000
4.400% Senior Notes due 2032
Debt Instrument [Line Items]
Senior Notes	450,000,000
5.100% Senior Notes due 2024
Debt Instrument [Line Items]
Senior Notes	$ 300,000,000
Unsecured Debt [Member] | Senior Notes Due 2049 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Apr. 02, 2032
Unsecured Debt [Member] | 5.100% Senior Notes due 2024
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Apr. 02, 2052

XML

Subsequent Event (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 02, 2022	Jul. 02, 2022	Jul. 03, 2021
Subsequent Event [Line Items]
Business Combination, Consideration Transferred			$ 66.2
Freedom Boat Club Franchises
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	$ 95.7
Freedom Boat Club Franchises | Selling, General and Administrative Expenses [Member]
Subsequent Event [Line Items]
Business Acquisition, Transaction Costs	$ 1.2	$ 1.2
Term Loan Due 2023
Subsequent Event [Line Items]
Repayments of Other Debt		$ 56.3