Revenue Recognition
The following table presents the Company's revenue into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
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Three Months Ended |
|
March 30, 2019 |
|
Marine Engine |
|
Boat |
|
Fitness |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
524.2 |
|
|
$ |
273.9 |
|
|
$ |
115.1 |
|
|
$ |
913.2 |
|
Europe |
119.2 |
|
|
36.7 |
|
|
45.4 |
|
|
201.3 |
|
Asia-Pacific |
56.1 |
|
|
5.4 |
|
|
35.7 |
|
|
97.2 |
|
Canada |
31.3 |
|
|
50.0 |
|
|
6.4 |
|
|
87.7 |
|
Rest-of-World |
35.2 |
|
|
7.3 |
|
|
22.6 |
|
|
65.1 |
|
Marine eliminations |
(88.6 |
) |
|
— |
|
|
— |
|
|
(88.6 |
) |
Total |
$ |
677.4 |
|
|
$ |
373.3 |
|
|
$ |
225.2 |
|
|
$ |
1,275.9 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Propulsion |
$ |
400.0 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
400.0 |
|
Parts & Accessories |
366.0 |
|
|
— |
|
|
— |
|
|
366.0 |
|
Aluminum Freshwater Boats |
— |
|
|
166.2 |
|
|
— |
|
|
166.2 |
|
Recreational Fiberglass Boats |
— |
|
|
115.0 |
|
|
— |
|
|
115.0 |
|
Saltwater Fishing Boats |
— |
|
|
90.2 |
|
|
— |
|
|
90.2 |
|
Commercial Cardio Fitness Equipment |
— |
|
|
— |
|
|
121.5 |
|
|
121.5 |
|
Commercial Strength Fitness Equipment |
— |
|
|
— |
|
|
84.8 |
|
|
84.8 |
|
Consumer Fitness Equipment |
— |
|
|
— |
|
|
18.9 |
|
|
18.9 |
|
Other |
— |
|
|
1.9 |
|
|
— |
|
|
1.9 |
|
Marine eliminations |
(88.6 |
) |
|
— |
|
|
— |
|
|
(88.6 |
) |
Total |
$ |
677.4 |
|
|
$ |
373.3 |
|
|
$ |
225.2 |
|
|
$ |
1,275.9 |
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Three Months Ended |
|
March 31, 2018 |
|
Marine Engine |
|
Boat |
|
Fitness |
|
Total |
Geographic Markets |
|
|
|
|
|
|
|
United States |
$ |
476.5 |
|
|
$ |
274.7 |
|
|
$ |
121.6 |
|
|
$ |
872.8 |
|
Europe |
97.8 |
|
|
43.1 |
|
|
53.4 |
|
|
194.3 |
|
Asia-Pacific |
50.4 |
|
|
7.0 |
|
|
42.1 |
|
|
99.5 |
|
Canada |
28.9 |
|
|
46.8 |
|
|
7.1 |
|
|
82.8 |
|
Rest-of-World |
33.5 |
|
|
4.9 |
|
|
20.2 |
|
|
58.6 |
|
Marine eliminations |
(96.6 |
) |
|
— |
|
|
— |
|
|
(96.6 |
) |
Total |
$ |
590.5 |
|
|
$ |
376.5 |
|
|
$ |
244.4 |
|
|
$ |
1,211.4 |
|
|
|
|
|
|
|
|
|
Major Product Lines |
|
|
|
|
|
|
|
Propulsion |
$ |
379.0 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
379.0 |
|
Parts & Accessories |
308.1 |
|
|
— |
|
|
— |
|
|
308.1 |
|
Aluminum Freshwater Boats |
— |
|
|
161.6 |
|
|
— |
|
|
161.6 |
|
Recreational Fiberglass Boats |
— |
|
|
127.7 |
|
|
— |
|
|
127.7 |
|
Saltwater Fishing Boats |
— |
|
|
85.7 |
|
|
— |
|
|
85.7 |
|
Commercial Cardio Fitness Equipment |
— |
|
|
— |
|
|
132.3 |
|
|
132.3 |
|
Commercial Strength Fitness Equipment |
— |
|
|
— |
|
|
90.9 |
|
|
90.9 |
|
Consumer Fitness Equipment |
— |
|
|
— |
|
|
21.2 |
|
|
21.2 |
|
Other |
— |
|
|
1.5 |
|
|
— |
|
|
1.5 |
|
Marine eliminations |
(96.6 |
) |
|
— |
|
|
— |
|
|
(96.6 |
) |
Total |
$ |
590.5 |
|
|
$ |
376.5 |
|
|
$ |
244.4 |
|
|
$ |
1,211.4 |
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As of January 1, 2019, $178.7 million of contract liabilities associated with extended warranties, customer deposits, and product rebates were reported in Accrued expenses and Other Long-term liabilities and $28.2 million of this amount was recognized as revenue during the three months ended March 30, 2019. As of March 30, 2019, total contract liabilities were $187.7 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of March 30, 2019 was $163.1 million for contracts greater than one year, which includes both extended warranties and product rebates. The Company expects to recognize approximately $45.3 million of this amount in 2019, $57.7 million in 2020, and $60.1 million thereafter.
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