Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Shareholders' Equity

v3.10.0.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Balance, at Beginning of Year at Dec. 31, 2015 $ 1,281.3 $ 76.9 $ 408.0 $ 1,660.4 $ (389.9) $ (474.1)
Net Earnings 276.0 0.0 0.0 276.0 0.0 0.0
Other Comprehensive Income 39.5 0.0 0.0 0.0 0.0 39.5
Dividends (55.4) 0.0 0.0 (55.4) 0.0 0.0
Compensation Plans and Other 19.0 0.0 (26.0) 0.0 45.0 0.0
Common Stock Repurchases (120.3) 0.0 0.0 0.0 (120.3) 0.0
Balance, at End of Year at Dec. 31, 2016 1,440.1 76.9 382.0 1,881.0 (465.2) (434.6)
Net Earnings 146.4 [1],[2],[3],[4],[5] 0.0 0.0 146.4 0.0 0.0
Other Comprehensive Income 74.8 0.0 0.0 0.0 0.0 74.8
Dividends (60.6) 0.0 0.0 (60.6) 0.0 0.0
Compensation Plans and Other 12.2 0.0 (7.6) 0.0 19.8 0.0
Common Stock Repurchases (130.0) 0.0 0.0 0.0 (130.0) 0.0
Balance, at End of Year at Dec. 31, 2017 1,482.9 76.9 374.4 1,966.8 (575.4) (359.8)
Net Earnings 265.3 0.0 0.0 265.3 0.0 0.0
Other Comprehensive Income (3.3) 0.0 0.0 0.0 0.0 (3.3)
Dividends (67.8) 0.0 0.0 (67.8) 0.0 0.0
Compensation Plans and Other 9.1 0.0 (3.3) 0.0 12.4 0.0
Common Stock Repurchases (75.0) 0.0 0.0 0.0 (75.0) 0.0
Balance, at End of Year at Dec. 31, 2018 1,582.6 76.9 371.1 2,135.7 (638.0) (363.1)
Cumulative Effect of New Accounting Principle in Period of Adoption $ (28.6) $ 0.0 $ 0.0 $ (28.6) $ 0.0 $ 0.0
[1] (A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yacht operations. During the first, second, third and fourth quarters and the full-year of 2018, Sport Yacht & Yacht operations had operating losses of $8.1 million, $27.4 million, $11.9 million, $11.0 million and $58.4 million, respectively, consisting of $15.1 million, $19.9 million, $9.0 million, $5.4 million and $49.4 million, respectively, of Net sales; $18.7 million, $43.1 million, $17.3 million, $10.0 million, $89.1 million of Cost of sales (COS); and $4.5 million, $4.2 million, $3.6 million, $6.4 million and $18.7 million, respectively, of Selling, general and administrative expense (SG&A). During the first, second, third and fourth quarters and the full-year of 2017, Sport Yacht & Yacht operations had operating losses of $8.0 million, $3.4 million, $9.8 million, $10.7 million and $31.9 million, respectively, consisting of $38.9 million, $53.1 million, $21.3 million, $38.3 million and $151.6 million, respectively, of Net sales; $41.0 million, $52.5 million, $26.3 million, $44.2 million, $164.0 million of Cost of sales (COS); and $5.9 million, $4.0 million, $4.8 million, $4.8 million and $19.5 million, respectively, of Selling, general and administrative expense (SG&A).
[2] (D) During the second, third and fourth quarters and the full-year of 2018, the Company's Fitness segment recorded $1.6 million, $3.8 million, $6.4 million and $11.8 million of unusual charges. The charges in the second quarter consisted of $1.6 million within COS for a product field campaign. The charges in the third quarter consisted of $3.8 million within SG&A related to a contract dispute. The charges in the fourth quarter consisted of $3.1 million within COS related to the settlement of supplier obligations, $2.8 million within SG&A associated with the delayed submission of foreign import duty filings, $0.7 million within COS for a product field campaign and $(0.2) million within SG&A related to the contract dispute. In the fourth quarter of 2017, the Company's Fitness segment recorded $8.4 million and $5.1 million within COS and SG&A, respectively, related to field campaigns pertaining to certain Cybex products designed prior to the acquisition. Refer to Note 14 – Commitments and Contingencies for further details.
[3] (E) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit, Integration and Impairment Activities.
[4] (H) Net earnings (loss) includes the tax impacts of the items discussed in the aforementioned footnotes, as well as special tax items. During the first, second, third and fourth quarters and the full-year of 2018, special tax items were a net charge (benefit) of $6.7 million, $(1.0) million, $(10.4) million, $0.6 million and $(4.1) million, respectively. During the first, second, third and fourth quarters and the full-year of 2017, special tax items were a net charge (benefit) of $(0.5) million, $(0.2) million, $(0.7) million, $71.1 million and $69.7 million, respectively.
[5] (I) Pension settlement charges are discussed in Note 18 – Postretirement Benefits.