Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Notes)

v3.23.3
Revenue Recognition (Notes)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue Recognition
The following tables present 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
September 30, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 498.2  $ 248.0  $ 137.4  $ 345.6  $ 1,229.2 
Europe 88.0  30.3  48.0  28.2  194.5 
Asia-Pacific 46.5  25.0  19.1  8.3  98.9 
Canada 26.8  28.4  3.8  37.2  96.2 
Rest-of-World 58.7  12.9  5.1  9.3  86.0 
Segment Eliminations (86.2) (2.0) (23.0) —  (111.2)
Total $ 632.0  $ 342.6  $ 190.4  $ 428.6  $ 1,593.6 
Three Months Ended
October 1, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 514.1  $ 257.1  $ 155.1  $ 397.7  $ 1,324.0 
Europe 75.1  28.4  48.2  39.3  191.0 
Asia-Pacific 49.7  29.0  23.3  7.8  109.8 
Canada 28.4  33.6  3.7  57.1  122.8 
Rest-of-World 47.1  12.2  4.5  8.8  72.6 
Segment Eliminations (99.2) (1.6) (21.2) —  (122.0)
Total $ 615.2  $ 358.7  $ 213.6  $ 510.7  $ 1,698.2 
Nine Months Ended
September 30, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 1,490.8  $ 693.3  $ 459.3  $ 1,203.8  $ 3,847.2 
Europe 293.4  86.2  173.9  135.6  689.1 
Asia-Pacific 154.8  76.7  56.3  23.9  311.7 
Canada 75.8  69.2  13.4  173.4  331.8 
Rest-of-World 158.3  36.7  15.6  27.9  238.5 
Segment Eliminations (291.3) (5.8) (81.3) (0.4) (378.8)
Total $ 1,881.8  $ 956.3  $ 637.2  $ 1,564.2  $ 5,039.5 
Nine Months Ended
October 1, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 1,450.4  $ 758.3  $ 541.7  $ 1,189.2  $ 3,939.6 
Europe 306.9  97.0  188.6  140.9  733.4 
Asia-Pacific 172.5  88.8  69.5  24.4  355.2 
Canada 86.1  86.0  20.9  189.7  382.7 
Rest-of-World 138.6  40.0  11.8  27.7  218.1 
Segment Eliminations (310.7) (5.8) (82.8) (0.2) (399.5)
Total $ 1,843.8  $ 1,064.3  $ 749.7  $ 1,571.7  $ 5,229.5 
Three Months Ended
September 30, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 580.3  $ —  $ —  $ —  $ 580.3 
Controls, Rigging, and Propellers 99.7  —  —  —  99.7 
Sterndrive Engines 38.2  —  —  —  38.2 
Distribution Parts & Accessories —  186.0  —  —  186.0 
Products —  158.6  —  —  158.6 
Navico Group —  —  213.4  —  213.4 
Aluminum Freshwater Boats —  —  —  141.3  141.3 
Recreational Fiberglass Boats —  —  —  137.0  137.0 
Saltwater Fishing Boats —  —  —  110.4  110.4 
Business Acceleration —  —  —  43.6  43.6 
Boat Eliminations/Other —  —  —  (3.7) (3.7)
Segment Eliminations (86.2) (2.0) (23.0) —  (111.2)
Total $ 632.0  $ 342.6  $ 190.4  $ 428.6  $ 1,593.6 
Three Months Ended
October 1, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 565.2  $ —  $ —  $ —  $ 565.2 
Controls, Rigging, and Propellers 96.9  —  —  —  96.9 
Sterndrive Engines 52.3  —  —  —  52.3 
Distribution Parts & Accessories —  207.7  —  —  207.7 
Products —  152.6  —  —  152.6 
Navico Group —  —  234.8  —  234.8 
Aluminum Freshwater Boats —  —  —  208.2  208.2 
Recreational Fiberglass Boats —  —  —  180.8  180.8 
Saltwater Fishing Boats —  —  —  86.6  86.6 
Business Acceleration —  —  —  38.7  38.7 
Boat Eliminations/Other —  —  —  (3.6) (3.6)
Segment Eliminations (99.2) (1.6) (21.2) —  (122.0)
Total $ 615.2  $ 358.7  $ 213.6  $ 510.7  $ 1,698.2 
Nine Months Ended
September 30, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 1,726.1  $ —  $ —  $ —  $ 1,726.1 
Controls, Rigging, and Propellers 310.8  —  —  —  310.8 
Sterndrive Engines 136.2  —  —  —  136.2 
Distribution Parts & Accessories —  558.5  —  —  558.5 
Products —  403.6  —  —  403.6 
Navico Group —  —  718.5  —  718.5 
Aluminum Freshwater Boats —  —  —  582.0  582.0 
Recreational Fiberglass Boats —  —  —  522.5  522.5 
Saltwater Fishing Boats —  —  —  348.4  348.4 
Business Acceleration —  —  —  129.9  129.9 
Boat Eliminations/Other —  —  —  (18.2) (18.2)
Segment Eliminations (291.3) (5.8) (81.3) (0.4) (378.8)
Total $ 1,881.8  $ 956.3  $ 637.2  $ 1,564.2  $ 5,039.5 
Nine Months Ended
October 1, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Major Product Lines
Outboard Engines $ 1,677.1  $ —  $ —  $ —  $ 1,677.1 
Controls, Rigging, and Propellers 301.8  —  —  —  301.8 
Sterndrive Engines 175.6  —  —  —  175.6 
Distribution Parts & Accessories —  642.7  —  —  642.7 
Products —  427.4  —  —  427.4 
Navico Group —  —  832.5  —  832.5 
Aluminum Freshwater Boats —  —  —  666.2  666.2 
Recreational Fiberglass Boats —  —  —  532.6  532.6 
Saltwater Fishing Boats —  —  —  286.1  286.1 
Business Acceleration —  —  —  94.1  94.1 
Boat Eliminations/Other —  —  —  (7.1) (7.1)
Segment Eliminations (310.7) (5.8) (82.8) (0.2) (399.5)
Total $ 1,843.8  $ 1,064.3  $ 749.7  $ 1,571.7  $ 5,229.5 

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 $12.8 million and $45.9 million were recognized as revenue during the three and nine months ended September 30, 2023, respectively. As of September 30, 2023, total contract liabilities were $193.6 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of September 30, 2023 was $187.2 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize $20.3 million of this amount in 2023, $58.0 million in 2024, and $108.9 million thereafter.