Restructuring, Exit and Integration Activities

9 Months Ended

Sep. 27, 2025

Restructuring and Related Activities [Abstract]

Restructuring, Exit and Integration Activities [Text Block]

Restructuring, Exit, and Impairment Activities

During the three and nine months ended September 27, 2025 and September 28, 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, including the decision in the third quarter of 2025 to rationalize our fiberglass boat manufacturing footprint and exit our facilities in Reynosa, Mexico and Flagler Beach, Florida and consolidate production from those facilities into existing U.S. facilities.

The following table is a summary of these expenses for the three months ended September 27, 2025:



(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Corporate		Total
Restructuring, exit, and impairment activities:
Employee termination and other benefits (A)	$	—	$	—	$	1.5	$	6.9	$	0.2	$	8.6
Asset-related (B)	—		—		322.8		0.9		—		323.7
Professional fees	—		—		—		0.6		—		0.6
Total restructuring, exit, and impairment charges	$	—	$	—	$	324.3	$	8.4	$	0.2	$	332.9

Total cash payments for restructuring, exit and impairment charges (C)	$	0.3	$	0.1	$	1.8	$	0.4	$	0.2	$	2.8
Accrued charges at end of the period (D)	$	0.5	$	0.1	$	3.3	$	8.0	$	0.3	$	12.2

(A) Includes $0.9 million of benefit associated with pension plan adjustments included within Other expense, net in the Condensed Consolidated Statements of Comprehensive Income during the three months ended September 27, 2025.

(B) Includes impairment charges of $322.8 million associated with an impairment of the Navico Group reporting unit's goodwill and trade names during the three months ended September 27, 2025.

(D) Restructuring, exit, and impairment charges accrued as of September 27, 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 September 28, 2024:



(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Corporate		Total
Restructuring, exit, and impairment activities:
Employee termination and other benefits	$	2.9	$	0.8	$	3.3	$	2.8	$	1.1	$	10.9
Asset-related	—		—		1.2		0.1		—		1.3

Total restructuring, exit, and impairment charges	$	2.9	$	0.8	$	4.5	$	2.9	$	1.1	$	12.2

Total cash payments for restructuring, exit and impairment charges (A)	$	2.5	$	0.9	$	0.8	$	2.9	$	0.3	$	7.4
Accrued charges at end of the period	$	2.7	$	1.4	$	2.8	$	2.6	$	1.2	$	10.7

(A) Cash payments for the three months ended September 28, 2024 may include payments related to prior period charges.

The following table is a summary of these expenses for the nine months ended September 27, 2025:


(in millions)	Propulsion		Engine P&A		Navico Group		Boat		Corporate		Total
Restructuring, exit, and impairment activities:
Employee termination and other benefits (A)	$	1.2	$	0.4	$	6.6	$	8.2	$	0.5	$	16.9
Asset-related (B)	—		—		323.2		0.9		—		324.1
Professional fees	—		—		0.4		0.6		—		1.0
Total restructuring, exit, and impairment charges	$	1.2	$	0.4	$	330.2	$	9.7	$	0.5	$	342.0

Total cash payments for restructuring, exit, and impairment charges (C)	$	2.1	$	1.0	$	5.2	$	2.8	$	1.1	$	12.2
Accrued charges at end of the period (D)	$	0.5	$	0.1	$	3.3	$	8.0	$	0.3	$	12.2

(B) Includes impairment charges of $322.8 million associated with an impairment of the Navico Group reporting unit's goodwill and trade names during the nine months ended September 27, 2025.

(D) Restructuring, exit, and impairment charges accrued as of September 27, 2025 are expected to be paid in the next twelve months.