|3 Months Ended|
Apr. 04, 2015
Note 11 – Investments
Investments in Marketable Securities
The Company invests a portion of its cash reserves in marketable debt securities. These investments are reported in Short-term investments in marketable securities on the Condensed Consolidated Balance Sheets. Furthermore, the debt securities have readily determinable market values and are being accounted for as available-for-sale investments. These investments are recorded at fair value with unrealized gains and losses reflected in Accumulated other comprehensive loss, a component of Shareholders’ equity on the Company’s Condensed Consolidated Balance Sheets, on an after-tax basis.
The following is a summary of the Company’s available-for-sale securities, all due in one year or less, as of April 4, 2015:
The following is a summary of the Company’s available-for-sale securities, all due in one year or less, as of December 31, 2014:
The following is a summary of the Company’s available-for-sale securities, all due in one year or less, as of March 29, 2014:
The Company had $9.5 million in sales and $31.8 million in redemptions of available-for-sale securities during the three months ended April 4, 2015. The Company had $11.9 million in redemptions of available-for-sale securities during the three months ended March 29, 2014.
At each reporting date, management reviews the debt securities to determine if any loss in the value of a security below its amortized cost should be considered “other-than-temporary.” As of April 4, 2015, there were no unrealized losses related to debt securities that required management evaluation.
The Company has certain unconsolidated international and domestic affiliates that are accounted for using the equity method. Refer to Note 13 – Financial Services for more details on the Company’s Brunswick Acceptance Company, LLC joint venture. In the fourth quarter of 2014, the Company determined that the fair value of its 36 percent investment in Bella-Veneet Oy (Bella), a Finnish boat manufacturer, had declined significantly as a result of the inability of the business to achieve profitability due to weak market conditions for its products, which has led to significant declines in revenue. The Company determined that the book value of its investment exceeded its fair value and concluded that this decline in fair value was other than temporary. As a result, the Company recorded a $20.2 million charge during the fourth quarter of 2014 in order to reflect the fair value of the Company's investment in Bella of $1.1 million. Refer to Note 9 to the consolidated financial statements in the 2014 Form 10-K for further detail relating to the Company's equity investments.
The entire disclosure for investments in certain debt and equity securities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef