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.