Annual report pursuant to Section 13 and 15(d)

Quarterly Data (unaudited) (Details)

v3.20.4
Quarterly Data (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 26, 2020
Jun. 27, 2020
Mar. 28, 2020
Dec. 31, 2019
Sep. 28, 2019
Jun. 29, 2019
Mar. 30, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]                      
Net Sales $ 1,161.1 $ 1,233.1 $ 987.8 $ 965.5 $ 917.6 $ 976.6 $ 1,163.5 [1] $ 1,050.7 $ 4,347.5 $ 4,108.4 $ 4,120.9
Gross margin 336.3 376.9 256.0 243.8 236.6 [2] 276.9 328.0 [2] 279.5 1,213.0 1,121.0 [2]  
Restructuring, Exit and Impairment Charges (0.2) [3] 1.8 [3] 2.1 [3] 0.4 [3] 2.8 [3] 7.4 [3] 5.4 [3] 3.2 [3] 4.1 18.8 [3] 54.8
Pension Settlement Charge 0.0 (0.2) [4] 1.3 [4] 0.0 1.3 [4] (294.1) [4] 0.0 0.0 1.1 [4] (292.8) [4] 0.0
Net Earnings from Continuing Operations 96.0 [5] 136.8 [5] 71.2 [5] 70.7 [5] 75.0 [5] (232.9) [5] 112.1 [5] 76.2 [5] 374.7 30.4 [5] 253.4
Net (Loss) Earnings from Discontinued Operations, Net of Tax (0.9) 1.1 (0.5) (1.7) (7.9) (6.4) (34.6) (112.5) (2.0) (161.4) 11.9
Net Earnings $ 95.1 $ 137.9 $ 70.7 $ 69.0 $ 67.1 $ (239.3) $ 77.5 $ (36.3) $ 372.7 $ (131.0) $ 265.3
Dividends Declared $ 0.27 $ 0.24 $ 0.24 $ 0.24 $ 0.24 $ 0.21 $ 0.21 $ 0.21 $ 0.99 $ 0.87 $ 0.78
Basic Earnings Per Common Share                      
Earnings from Continuing Operations (in Dollars Per Share) 1.22 1.72 0.89 0.88 0.92 (2.74) 1.29 0.87 4.73 0.36 2.89
Net Earnings (Loss) from Discontinued Operations (in Dollars Per Share) (0.01) 0.02 (0.00) (0.02) (0.10) (0.08) (0.40) (1.29) (0.03) (1.90) 0.14
Net Earnings (in Dollars per Share) 1.21 1.74 0.89 0.86 0.82 (2.82) 0.89 (0.42) 4.70 (1.54) 3.03
Diluted Earnings Per Common Share                      
Net Earnings (Loss) from Continuing Operations (in Dollars per Share) 1.22 1.71 0.89 0.88 0.92 (2.74) 1.28 0.87 4.70 0.36 2.87
Net Earnings (Loss) from Discontinued Operations (in Dollars per Share) (0.02) 0.02 (0.00) (0.02) (0.10) (0.08) (0.39) (1.29) (0.02) (1.89) 0.14
Net Earnings (in Dollars per Share) 1.20 1.73 0.89 0.86 0.82 (2.82) 0.89 (0.42) 4.68 (1.53) $ 3.01
Common Stock Price [Abstract]                      
High 84.00 73.99 67.39 66.32 62.23 54.75 54.76 55.35 84.00 62.23  
Low $ 58.74 $ 56.50 $ 25.61 $ 25.22 $ 49.36 $ 42.57 $ 41.02 $ 44.89 $ 25.22 $ 41.02  
Field Campaigns Charges [Line Items]                      
Net Sales $ 1,161.1 $ 1,233.1 $ 987.8 $ 965.5 $ 917.6 $ 976.6 $ 1,163.5 [1] $ 1,050.7 $ 4,347.5 $ 4,108.4 $ 4,120.9
Cost of Sales                 3,134.5 2,987.4 3,073.9
Net Earnings from Continuing Operations 96.0 [5] 136.8 [5] 71.2 [5] 70.7 [5] 75.0 [5] (232.9) [5] 112.1 [5] 76.2 [5] 374.7 30.4 [5] $ 253.4
Special Tax Items Charge (Benefit) (0.9) 0.7 (0.4) (0.3) 14.8 2.5 (1.8) 1.7 (0.3) 17.2  
Adjusted [Member]                      
Quarterly Financial Information Disclosure [Abstract]                      
Net Earnings from Continuing Operations 7.2 6.5 7.0 6.9 8.2 6.1 9.0 5.7 27.6 29.0  
Field Campaigns Charges [Line Items]                      
Net Earnings from Continuing Operations $ 7.2 6.5 $ 7.0 $ 6.9 8.2 $ 6.1 9.0 $ 5.7 $ 27.6 29.0  
Sport Yacht and Yacht [Member]                      
Quarterly Financial Information Disclosure [Abstract]                      
Net Sales             (0.7)        
Field Campaigns Charges [Line Items]                      
Net Sales             (0.7)        
Cost of Sales         $ 3.9   $ 3.2     $ 7.1  
Senior Notes Due 2021 [Member]                      
Field Campaigns Charges [Line Items]                      
Extinguishment of Debt, Gain (Loss), Net of Tax   $ 0.8                  
[1] (A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yachts (SYY) operations. During the second quarter and the full-year of 2019, SYY had Net sales of $(0.7) million.
[2] (B) Gross margin is defined as Net sales less Cost of sales (COS) as presented in the Consolidated Statements of Operations. During the second and fourth quarter and the full-year of 2019, the Company recorded $3.2 million, $3.9 million and $7.1 million in COS, respectively, related to SYY.
[3] (C) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit and Impairment Activities.
[4] (D) Pension settlement charges are discussed in Note 17 – Postretirement Benefits
[5] (E) During the first, second, third and fourth quarter and full-year of 2020, Net earnings (loss) from continuing operations includes $6.9 million, $7.0 million, $6.5 million, $7.2 million and $27.6 million, respectively, related to purchase accounting amortization, IT transformation costs, and acquisition-related costs, related to the purchase of Power products and Freedom Boat Club. Net earnings (loss) from continuing operations also includes $(0.3) million, $0.4 million, $(0.7) million, $0.9 million and $0.3 million related to discrete tax items. During the first, second, third and fourth quarter and full-year ended 2019, Net earnings (loss) from continuing operations includes $5.7 million, $9.0 million, $6.1 million, $8.2 million and $29.0 million, respectively, related to SYY, purchase accounting amortization, IT transformation costs, and acquisition-related costs, related to the purchase of Power products and Freedom Boat Club. Refer to Note 5 – Acquisitions for further details. Net earnings (loss) from continuing operations also includes $(1.7) million, $1.8 million, $(2.5) million, $(14.8) million and $(17.2) million related to discrete tax items. In the third quarter and full-year of 2019, the Company had a loss of extinguishment of debt, net of tax, of $0.8 million.