Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Notes)

v3.23.1
Revenue Recognition (Notes)
3 Months Ended
Apr. 01, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue Recognition
The following table presents the Company's revenue in categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
Three Months Ended
April 1, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 495.8  $ 202.9  $ 182.3  $ 440.0  $ 1,321.0 
Europe 115.5  27.0  65.4  51.1  259.0 
Asia-Pacific 58.5  27.9  18.6  7.3  112.3 
Canada 28.4  18.8  5.2  65.9  118.3 
Rest-of-World 53.4  12.0  5.8  10.9  82.1 
Segment Eliminations (113.7) (2.0) (33.1) (0.3) (149.1)
Total $ 637.9  $ 286.6  $ 244.2  $ 574.9  $ 1,743.6 
Three Months Ended
April 2, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 452.7  $ 224.6  $ 203.1  $ 368.4  $ 1,248.8 
Europe 113.4  35.5  73.2  45.6  267.7 
Asia-Pacific 63.3  32.1  22.2  9.1  126.7 
Canada 33.2  24.0  8.3  62.2  127.7 
Rest-of-World 43.3  14.1  4.8  7.5  69.7 
Segment Eliminations (109.2) (2.1) (33.6) —  (144.9)
Total $ 596.7  $ 328.2  $ 278.0  $ 492.8  $ 1,695.7 
Three Months Ended
April 1, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 593.2  $   $   $   $ 593.2 
Controls, Rigging, and Propellers 106.0        106.0 
Sterndrive Engines 52.4        52.4 
Distribution Parts & Accessories   175.3      175.3 
Products   113.3      113.3 
Navico Group     277.3    277.3 
Aluminum Freshwater Boats       230.4  230.4 
Recreational Fiberglass Boats       198.4  198.4 
Saltwater Fishing Boats       113.1  113.1 
Business Acceleration       39.8  39.8 
Boat Eliminations/Other       (6.5) (6.5)
Segment Eliminations (113.7) (2.0) (33.1) (0.3) (149.1)
Total $ 637.9  $ 286.6  $ 244.2  $ 574.9  $ 1,743.6 
Three Months Ended
April 2, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 546.1  $ —  $ —  $ —  $ 546.1 
Controls, Rigging, and Propellers 98.5  —  —  —  98.5 
Sterndrive Engines 61.3  —  —  —  61.3 
Distribution Parts & Accessories —  203.5  —  —  203.5 
Products —  126.8  —  —  126.8 
Navico Group —  —  311.6  —  311.6 
Aluminum Freshwater Boats —  —  —  220.6  220.6 
Recreational Fiberglass Boats —  —  —  164.4  164.4 
Saltwater Fishing Boats —  —  —  89.2  89.2 
Business Acceleration —  —  —  19.6  19.6 
Boat Eliminations/Other —  —  —  (1.0) (1.0)
Segment Eliminations (109.2) (2.1) (33.6) —  (144.9)
Total $ 596.7  $ 328.2  $ 278.0  $ 492.8  $ 1,695.7 

As of December 31, 2022, $178.5 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other long-term liabilities, of which $19.0 million were recognized as revenue during the three months ended April 1, 2023. As of April 1, 2023, total contract liabilities were $189.4 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of April 1, 2023 was $179.9 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize $48.8 million of this amount in 2023, $40.4 million in 2024, and $90.7 million thereafter.