Restructuring, Exit and Integration Activities |
Apr. 01, 2023 |
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, Exit and Integration Activities [Text Block] | Restructuring, Exit and Impairment Activities The Company recorded restructuring, exit and impairment charges in the Condensed Consolidated Statements of Comprehensive Income in 2023.
During the three months ended April 1, 2023, the Company recorded restructuring charges within the Engine P&A, Navico Group, Boat and Corporate segments related to headcount reductions and related costs associated with streamlining the enterprise-wide cost structure and improving operating efficiencies. The Company estimates approximately $16 million of charges, primarily within the Navico Group, Boat and Corporate segments, will be incurred related to these actions during 2023.
The following table is a summary of expenses for the three months ended April 1, 2023:
(A) Cash payments for the three months ended April 1, 2023 may include payments related to prior period charges.
(B) Restructuring, exit and impairment charges accrued as of April 1, 2023 are expected to be paid in the next twelve months.
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