Restructuring, Exit and Integration Activities

3 Months Ended

Mar. 29, 2025

Restructuring and Related Activities [Abstract]

Restructuring, Exit and Integration Activities [Text Block]

Restructuring, Exit and Impairment Activities

During the three months ended March 29, 2025 and March 30, 2024, the Company recorded restructuring charges related to headcount reductions and related costs associated with streamlining the enterprise-wide cost structure and improving operating efficiencies. The Company also incurred charges related to the rationalization of its manufacturing footprint.

The following table is a summary of these expenses for the three months ended March 29, 2025:

(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Corporate		Total
Restructuring, exit and impairment activities:
Employee termination and other benefits	$	—	$	—	$	0.8	$	0.3	$	—	$	1.1
Total cash payments for restructuring, exit and impairment charges (A)	$	1.1	$	0.5	$	1.6	$	1.2	$	0.8	$	5.2
Accrued charges at end of the period (B)	$	0.3	$	0.2	$	0.7	$	1.1	$	0.1	$	2.4

(A) Cash payments for the three months ended March 29, 2025 may include payments related to prior period charges.

(B) Restructuring, exit and impairment charges accrued as of March 29, 2025 are expected to be paid in the next twelve months.

The following table is a summary of these expenses for the three months ended March 30, 2024:

(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Corporate		Total
Restructuring, exit and impairment activities:
Employee termination and other benefits	$	5.6	$	3.3	$	2.2	$	1.0	$	0.9	$	13.0
Asset-related	—		—		0.5		—		—		0.5
Total restructuring, exit and impairment charges	$	5.6	$	3.3	$	2.7	$	1.0	$	0.9	$	13.5
Total cash payments for restructuring, exit and impairment charges (A)	$	2.7	$	1.6	$	6.2	$	1.0	$	0.9	$	12.4
Accrued charges at end of the period	$	4.1	$	2.4	$	1.1	$	1.7	$	0.6	$	9.9

(A) Cash payments for the three months ended March 30, 2024 may include payments related to prior period charges.