Quarterly report pursuant to Section 13 or 15(d)

Postretirement Benefits

v3.10.0.1
Postretirement Benefits
 9 Months Ended
Sep. 29, 2018
Defined Benefit Plan [Abstract]  
Pension and Other Postretirement Benefits
Postretirement Benefits

The Company has defined contribution plans, qualified and nonqualified defined benefit pension plans and other postretirement benefit plans covering substantially all of its employees. The Company's contributions to its defined contribution plans include matching and annual discretionary contributions which are based on various percentages of compensation, and in some instances are based on the amount of the employees' contributions to the plans. See Note 17 in the Notes to Consolidated Financial Statements in the 2017 Form 10-K for further details regarding these plans.

Plan Developments. During the third quarter of 2018, the Company initiated actions to terminate the Brunswick Pension Plan For Hourly Bargaining Unit Employees and the Brunswick Pension Plan for Salaried Employees, effective October 31, 2018. All benefits are expected to be paid during 2019, either through a lump-sum payment or annuity offerings. As a result, the over-funded positions for both plans are currently recorded within Prepaid expenses and other in the Condensed Consolidated Balance Sheets.
 
Pension and other postretirement benefit costs included the following components for the three months and nine months ended September 29, 2018 and September 30, 2017:
 
Pension Benefits
 
Other Postretirement Benefits
 
Three Months Ended
 
Nine Months Ended
 
Three Months Ended
 
Nine Months Ended
(in millions)
Sep 29,
2018
 
Sep 30,
2017
 
Sep 29,
2018
 
Sep 30,
2017
 
Sep 29,
2018
 
Sep 30,
2017
 
Sep 29,
2018
 
Sep 30,
2017
Interest cost
$
5.8

 
$
7.0

 
$
17.2

 
$
21.2

 
$
0.3

 
$
0.3

 
$
0.8

 
$
1.0

Expected return on plan assets
(6.4
)
 
(8.3
)
 
(19.1
)
 
(25.0
)
 
—

 
—

 
—

 
—

Amortization of prior service credits
—

 
—

 
—

 
—

 
(0.2
)
 
(0.1
)
 
(0.5
)
 
(0.5
)
Amortization of net actuarial losses
2.6

 
3.6

 
7.7

 
10.8

 
—

 
—

 
—

 
—

Net pension and other benefit costs
$
2.0

 
$
2.3

 
$
5.8

 
$
7.0

 
$
0.1

 
$
0.2

 
$
0.3

 
$
0.5



Employer Contributions and Benefit Payments. During the nine months ended September 29, 2018 and September 30, 2017, the Company contributed $160.0 million and $55.0 million, respectively, to its qualified pension plans. Company contributions are subject to change based on funding regulations and Company discretion. During the nine months ended September 29, 2018 and September 30, 2017, the Company contributed $2.7 million and $3.1 million, respectively, to fund benefit payments to its nonqualified pension plan.