Subsequent Events (Notes) |
6 Months Ended |
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Jun. 29, 2019 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] |
Subsequent Events
On July 3, 2019, the Company called $150.0 million of its 4.625% senior notes due 2021. The bonds will be retired on August 2, 2019 at par plus accrued interest, in accordance with the call provisions of the notes, and the associated interest rate swaps have been terminated.
On July 16, 2019 the Company's Board of Directors approved a $150 million increase to the $450 million share repurchase authorization approved in May 2019, bringing the total increase in authorization approved in 2019 to $600 million. The total remaining authorization was $565 million as of July 16, 2019.
On July 18, 2019, settlement payments totaling $595.8 million were made from the Brunswick Pension Plan for Hourly Bargaining Unit Employees and the Brunswick Pension Plan For Salaried Employees in connection with the previously announced terminations of these plans. The plan terminations included the aforementioned settlement payments for the group annuity contracts to cover future benefit payments as well as $77.1 million of lump-sum benefit payments to certain participants. The Company expects to incur approximately $280 million to $300 million of pre-tax and after-tax charges in connection with this action, including the recognition of actuarial losses as well as certain income tax consequences.
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