Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles (Tables)

v3.23.3
Goodwill and Intangibles (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
Changes in the Company's goodwill during the nine months ended September 30, 2023 and October 1, 2022, by segment, are summarized below:
(in millions) Propulsion Engine P&A Navico Group Boat Total
December 31, 2022 $ 14.0  $ 232.8  $ 595.8  $ 125.0  $ 967.6 
Acquisitions 37.1  —  —  —  37.1 
Adjustments (0.5) (0.1) (1.3) 4.8  2.9 
September 30, 2023 $ 50.6  $ 232.7  $ 594.5  $ 129.8  $ 1,007.6 
December 31, 2021 $ 14.7  $ 233.1  $ 581.8  $ 58.8  $ 888.4 
Acquisitions —  —  —  75.0  75.0 
Adjustments (1.6) (0.7) 1.8  (0.7) (1.2)
October 1, 2022 $ 13.1  $ 232.4  $ 583.6  $ 133.1  $ 962.2 
Schedule of Other Intangible Assets [Table Text Block]
The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of September 30, 2023, December 31, 2022 and October 1, 2022, are summarized by intangible asset type below:
Sep 30, 2023 Dec 31, 2022 Oct 1, 2022
(in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization
Intangible assets:
  Customer relationships $ 905.1  $ (416.7) $ 897.4  $ (386.1) $ 899.5  $ (374.5)
  Trade names 322.2  —  305.4  —  305.0  — 
  Developed technology 166.4  (21.3) 160.0  (13.3) 160.0  (10.7)
  Other 86.8  (42.7) 67.6  (33.6) 55.9  (29.8)
    Total $ 1,480.5  $ (480.7) $ 1,430.4  $ (433.0) $ 1,420.4  $ (415.0)

Other intangible assets primarily consist of software, patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $17.0 million and $50.8 million for three and nine months ended September 30, 2023, respectively. Aggregate amortization expense for intangibles was $15.9 million and $47.2 million for three and nine months ended October 1, 2022, respectively.