Revenue Recognition (Notes)

6 Months Ended

Jul. 01, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue Recognition

The following tables present 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 1, 2023
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Geographic Markets
United States	$	496.8	$	242.4	$	139.6	$	418.2	$	1,297.0
Europe	89.9		28.9		60.5		56.3		235.6
Asia-Pacific	49.8		23.8		18.6		8.3		100.5
Canada	20.6		22.0		4.4		70.3		117.3
Rest-of-World	46.2		11.8		4.7		7.7		70.4
Segment Eliminations	(91.4)		(1.8)		(25.2)		(0.1)		(118.5)
Total	$	611.9	$	327.1	$	202.6	$	560.7	$	1,702.3
	Three Months Ended
	July 2, 2022
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Geographic Markets
United States	$	483.6	$	276.6	$	183.5	$	423.1	$	1,366.8
Europe	118.4		33.1		67.2		56.0		274.7
Asia-Pacific	59.5		27.7		24.0		7.5		118.7
Canada	24.5		28.4		8.9		70.4		132.2
Rest-of-World	48.2		13.7		2.5		11.4		75.8
Segment Eliminations	(102.3)		(2.1)		(28.0)		(0.2)		(132.6)
Total	$	631.9	$	377.4	$	258.1	$	568.2	$	1,835.6

	Six Months Ended
	July 1, 2023
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Geographic Markets
United States	$	992.6	$	445.3	$	321.9	$	858.2	$	2,618.0
Europe	205.4		55.9		125.9		107.4		494.6
Asia-Pacific	108.3		51.7		37.2		15.6		212.8
Canada	49.0		40.8		9.6		136.2		235.6
Rest-of-World	99.6		23.8		10.5		18.6		152.5
Segment Eliminations	(205.1)		(3.8)		(58.3)		(0.4)		(267.6)
Total	$	1,249.8	$	613.7	$	446.8	$	1,135.6	$	3,445.9
	Six Months Ended
	July 2, 2022
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Geographic Markets
United States	$	936.3	$	501.2	$	386.6	$	791.5	$	2,615.6
Europe	231.8		68.6		140.4		101.6		542.4
Asia-Pacific	122.8		59.8		46.2		16.6		245.4
Canada	57.7		52.4		17.2		132.6		259.9
Rest-of-World	91.5		27.8		7.3		18.9		145.5
Segment Eliminations	(211.5)		(4.2)		(61.6)		(0.2)		(277.5)
Total	$	1,228.6	$	705.6	$	536.1	$	1,061.0	$	3,531.3

	Three Months Ended
	July 1, 2023
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Major Product Lines
Outboard Engines	$	552.6	$	—	$	—	$	—	$	552.6
Controls, Rigging, and Propellers	105.1		—		—		—		105.1
Sterndrive Engines	45.6		—		—		—		45.6
Distribution Parts & Accessories	—		197.2		—		—		197.2
Products	—		131.7		—		—		131.7
Navico Group	—		—		227.8		—		227.8
Aluminum Freshwater Boats	—		—		—		210.3		210.3
Recreational Fiberglass Boats	—		—		—		187.1		187.1
Saltwater Fishing Boats	—		—		—		124.9		124.9
Business Acceleration	—		—		—		46.5		46.5
Boat Eliminations/Other	—		—		—		(8.0)		(8.0)
Segment Eliminations	(91.4)		(1.8)		(25.2)		(0.1)		(118.5)
Total	$	611.9	$	327.1	$	202.6	$	560.7	$	1,702.3
	Three Months Ended
	July 2, 2022
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Major Product Lines
Outboard Engines	$	565.8	$	—	$	—	$	—	$	565.8
Controls, Rigging, and Propellers	106.4		—		—		—		106.4
Sterndrive Engines	62.0		—		—		—		62.0
Distribution Parts & Accessories	—		231.4		—		—		231.4
Products	—		148.1		—		—		148.1
Navico Group	—		—		286.1		—		286.1
Aluminum Freshwater Boats	—		—		—		237.4		237.4
Recreational Fiberglass Boats	—		—		—		187.4		187.4
Saltwater Fishing Boats	—		—		—		110.3		110.3
Business Acceleration	—		—		—		35.8		35.8
Boat Eliminations/Other	—		—		—		(2.5)		(2.5)
Segment Eliminations	(102.3)		(2.1)		(28.0)		(0.2)		(132.6)
Total	$	631.9	$	377.4	$	258.1	$	568.2	$	1,835.6

	Six Months Ended
	July 1, 2023
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Major Product Lines
Outboard Engines	$	1,145.8	$	—	$	—	$	—	$	1,145.8
Controls, Rigging, and Propellers	211.1		—		—		—		211.1
Sterndrive Engines	98.0		—		—		—		98.0
Distribution Parts & Accessories	—		372.5		—		—		372.5
Products	—		245.0		—		—		245.0
Navico Group	—		—		505.1		—		505.1
Aluminum Freshwater Boats	—		—		—		440.7		440.7
Recreational Fiberglass Boats	—		—		—		385.5		385.5
Saltwater Fishing Boats	—		—		—		238.0		238.0
Business Acceleration	—		—		—		86.3		86.3
Boat Eliminations/Other	—		—		—		(14.5)		(14.5)
Segment Eliminations	(205.1)		(3.8)		(58.3)		(0.4)		(267.6)
Total	$	1,249.8	$	613.7	$	446.8	$	1,135.6	$	3,445.9
	Six Months Ended
	July 2, 2022
(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Total
Major Product Lines
Outboard Engines	$	1,111.9	$	—	$	—	$	—	$	1,111.9
Controls, Rigging, and Propellers	204.9		—		—		—		204.9
Sterndrive Engines	123.3		—		—		—		123.3
Distribution Parts & Accessories	—		434.9		—		—		434.9
Products	—		274.9		—		—		274.9
Navico Group	—		—		597.7		—		597.7
Aluminum Freshwater Boats	—		—		—		458.0		458.0
Recreational Fiberglass Boats	—		—		—		351.8		351.8
Saltwater Fishing Boats	—		—		—		199.5		199.5
Business Acceleration	—		—		—		55.4		55.4
Boat Eliminations/Other	—		—		—		(3.5)		(3.5)
Segment Eliminations	(211.5)		(4.2)		(61.6)		(0.2)		(277.5)
Total	$	1,228.6	$	705.6	$	536.1	$	1,061.0	$	3,531.3

As of December 31, 2022, $178.5 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other long-term liabilities, of which $14.1 million and $33.1 million were recognized as revenue during the three and six months ended July 1, 2023, respectively. As of July 1, 2023, total contract liabilities were $194.6 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of July 1, 2023 was $185.6 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize $36.6 million of this amount in 2023, $47.3 million in 2024, and $101.7 million thereafter.