Annual report pursuant to Section 13 and 15(d)

Financing Joint Ventures (Tables)

Financing Joint Ventures (Tables)
12 Months Ended
Dec. 31, 2023
Financial Services [Abstract]  
Maximum Loss Exposure Related to Joint Venture
The Company's maximum loss exposure relating to BAC is detailed as follows:
(in millions) December 31,
December 31,
Investment $ 27.2  $ 20.3 
Repurchase and recourse obligations (A)
43.1  41.4 
Liabilities (B)
(2.2) (1.1)
Total maximum loss exposure $ 68.1  $ 60.6 

(A)Repurchase and recourse obligations are off-balance sheet obligations provided by the Company for the Propulsion, Engine P&A, Navico Group and Boat segments, respectively, and are included within the Maximum Potential Obligations disclosed in Note 11 – Commitments and Contingencies. Repurchase and recourse obligations include a North American repurchase agreement with WFCDF and could be reduced by repurchase activity occurring under other similar agreements with WFCDF and affiliates. The Company's risk under these repurchase arrangements is partially mitigated by the value of the products repurchased as part of the transaction. Amounts above exclude any potential recoveries from the value of the repurchased product.
(B)Represents accrued amounts for potential losses related to recourse exposure and the Company's expected losses on obligations to repurchase products, after giving effect to proceeds anticipated to be received from the resale of these products to alternative dealers.