| Quarterly Data (unaudited) |
Note 22 – Quarterly Data (unaudited)
Brunswick maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning thirteen weeks, with the first, second and third quarters ending on the Saturday closest to the end of the first, second and third thirteen-week periods, respectively. The first three quarters of fiscal year 2014 ended on March 29, 2014, June 28, 2014, and September 27, 2014, and the first three quarters of fiscal year 2013 ended on March 30, 2013, June 29, 2013, and September 28, 2013.
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Quarter Ended |
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(in millions, except per share data) |
March 29,
2014 |
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June 28,
2014 |
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September 27,
2014 |
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December 31,
2014 |
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Year Ended December 31, 2014 |
Net sales |
$ |
894.9 |
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$ |
1,073.1 |
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$ |
932.1 |
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$ |
938.6 |
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$ |
3,838.7 |
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Gross margin (A)
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243.3 |
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304.3 |
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259.2 |
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230.0 |
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|
1,036.8 |
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Pension settlement charge - lump sum payout |
— |
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— |
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— |
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27.9 |
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27.9 |
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Restructuring, exit and impairment charges |
— |
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3.1 |
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0.9 |
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0.2 |
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4.2 |
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Impairment of equity method investment |
— |
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— |
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— |
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(20.2 |
) |
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(20.2 |
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Loss on early extinguishment of debt |
— |
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— |
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— |
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(0.1 |
) |
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(0.1 |
) |
Net earnings (loss) from continuing operations |
49.1 |
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87.1 |
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61.0 |
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(2.3 |
) |
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194.9 |
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Net earnings (loss) from discontinued operations, net of tax |
7.9 |
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1.5 |
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43.4 |
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(2.0 |
) |
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50.8 |
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Net earnings (loss) |
57.0 |
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88.6 |
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104.4 |
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(4.3 |
) |
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245.7 |
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Basic earnings (loss) per common share: |
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Net earnings (loss) from continuing operations |
$ |
0.53 |
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$ |
0.93 |
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$ |
0.65 |
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$ |
(0.03 |
) |
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$ |
2.08 |
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Net earnings (loss) from discontinued operations |
$ |
0.08 |
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$ |
0.02 |
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$ |
0.46 |
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$ |
(0.02 |
) |
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$ |
0.55 |
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Net earnings (loss) |
$ |
0.61 |
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$ |
0.95 |
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$ |
1.11 |
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$ |
(0.05 |
) |
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$ |
2.63 |
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Diluted earnings (loss) per common share: |
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Net earnings (loss) from continuing operations |
$ |
0.52 |
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$ |
0.92 |
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$ |
0.64 |
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$ |
(0.03 |
) |
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$ |
2.05 |
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Net earnings (loss) from discontinued operations |
$ |
0.08 |
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$ |
0.01 |
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$ |
0.46 |
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$ |
(0.02 |
) |
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$ |
0.53 |
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Net earnings (loss) |
$ |
0.60 |
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$ |
0.93 |
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$ |
1.10 |
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$ |
(0.05 |
) |
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$ |
2.58 |
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Dividends declared |
$ |
0.10 |
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$ |
0.10 |
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$ |
0.125 |
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$ |
0.125 |
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$ |
0.45 |
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Common stock price (NYSE symbol: BC): |
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High |
$ |
46.74 |
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$ |
46.53 |
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$ |
44.90 |
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$ |
51.94 |
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$ |
51.94 |
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Low |
$ |
40.13 |
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$ |
38.95 |
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$ |
39.55 |
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$ |
39.29 |
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$ |
38.95 |
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Quarter Ended |
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(in millions, except per share data) |
March 30,
2013 |
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June 29,
2013 |
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September 28,
2013 |
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December 31,
2013 |
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Year Ended December 31, 2013 |
Net sales |
$ |
915.1 |
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$ |
1,033.4 |
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$ |
824.4 |
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$ |
826.8 |
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$ |
3,599.7 |
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Gross margin (A)
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237.1 |
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289.8 |
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227.6 |
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194.8 |
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949.3 |
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Restructuring, exit and impairment charges |
5.6 |
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2.5 |
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2.6 |
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5.8 |
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16.5 |
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Loss on early extinguishment of debt |
(0.1 |
) |
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(32.3 |
) |
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(0.3 |
) |
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(0.1 |
) |
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(32.8 |
) |
Net earnings from continuing operations |
42.6 |
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78.3 |
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57.2 |
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578.7 |
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756.8 |
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Net earnings from discontinued operations, net of tax |
7.2 |
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2.1 |
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0.6 |
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2.5 |
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12.4 |
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Net earnings |
49.8 |
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80.4 |
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57.8 |
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581.2 |
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769.2 |
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Basic earnings per common share: |
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Net earnings from continuing operations |
$ |
0.47 |
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$ |
0.86 |
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$ |
0.63 |
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$ |
6.30 |
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$ |
8.30 |
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Net earnings from discontinued operations |
$ |
0.08 |
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$ |
0.02 |
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$ |
0.00 |
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$ |
0.03 |
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$ |
0.13 |
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Net earnings |
$ |
0.55 |
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$ |
0.88 |
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$ |
0.63 |
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$ |
6.33 |
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$ |
8.43 |
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Diluted earnings per common share: |
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Net earnings from continuing operations |
$ |
0.46 |
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$ |
0.84 |
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$ |
0.61 |
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$ |
6.13 |
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$ |
8.07 |
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Net earnings from discontinued operations |
$ |
0.07 |
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$ |
0.02 |
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$ |
0.00 |
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$ |
0.03 |
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$ |
0.13 |
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Net earnings |
$ |
0.53 |
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$ |
0.86 |
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$ |
0.61 |
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$ |
6.16 |
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$ |
8.20 |
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Dividends declared |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
0.10 |
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$ |
0.10 |
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Common stock price (NYSE symbol: BC): |
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High |
$ |
37.23 |
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$ |
35.40 |
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$ |
40.76 |
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$ |
46.48 |
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$ |
46.48 |
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Low |
$ |
30.92 |
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$ |
30.42 |
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$ |
32.36 |
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$ |
39.09 |
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$ |
30.42 |
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(A) |
Gross margin is defined as Net sales less Cost of sales as presented in the Consolidated Statements of Operations. |
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