Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.20.4
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Product Warranty Liabilities
The following activity related to product warranty liabilities was recorded in Accrued expenses during the years ended December 31, 2020 and December 31, 2019:
(in millions) 2020 2019
Balance at beginning of period $ 117.6  $ 116.8 
Payments - Recurring (53.5) (59.2)
Payments - Sport Yacht & Yachts and Fitness businesses (6.2) (12.5)
Provisions/additions for contracts issued/sold 58.0  59.0 
Aggregate changes for preexisting warranties 0.9  7.6 
Foreign currency translation 0.9  0.0 
Other (A)
(1.8) 5.9 
Balance at end of period $ 115.9  $ 117.6 

(A) The Company retained a $5.9 million warranty liability from the sale of its Fitness business in 2019. The warranty liability pertains to product field campaigns for certain Cybex products designed prior to the Cybex acquisition. The Company recorded $(1.8) million of adjustments as of December 31, 2020.
Extended Product Warranty Liabilities
The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the years ended December 31, 2020 and December 31, 2019:
(in millions) 2020 2019
Balance at beginning of period $ 75.3  $ 66.4 
Extended warranty contracts sold 29.5  24.3 
Revenue recognized on existing extended warranty contracts (17.3) (15.2)
Foreign currency translation 0.2  0.2 
Other (0.3) (0.4)
Balance at end of period $ 87.4  $ 75.3