Brunswick Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Restructuring Activities (Tables)

Restructuring Activities (Tables)

6 Months Ended

Jun. 29, 2013

Restructuring Cost and Reserve [Line Items]

Summary of the expense associated with restructuring, exit and impairment activities

The following table is a summary of the expense associated with the restructuring, exit and impairment activities for the three months and six months ended June 29, 2013 and June 30, 2012. The 2013 charges consist of expenses related to actions initiated in 2013 and 2012. The 2012 charges consist of expenses related to actions initiated in 2010, 2009 and 2008.



	Three Months Ended					Six Months Ended
(in millions)	June 29, 2013		June 30, 2012			June 29, 2013		June 30, 2012
Restructuring activities:
Employee termination and other benefits	$	0.5	$	—		$	2.3	$	(0.3	)
Current asset write-downs	—		—			0.3		—
Transformation and other costs:
Consolidation of manufacturing footprint	2.1		1.6			3.2		3.7
Retention and relocation costs	0.3		—			0.4		—
Exit activities:
Employee termination and other benefits	0.6		—			0.6		—
Transformation and other costs:
Consolidation of manufacturing footprint	—		0.1			—		(0.2		)
Loss on sale of non-strategic assets	0.5		—			0.5		—
Asset disposition actions:
Definite-lived asset impairments and (gains) on disposal	—		(0.9		)	2.3		(2.2		)
Total restructuring, exit and impairment charges	$	4.0	$	0.8		$	9.6	$	1.0

Actions initiated in 2013 [Member]

Restructuring Cost and Reserve [Line Items]

Summary of the expense associated with restructuring, exit and impairment activities

The following is a summary of the charges by category associated with the Company’s 2013 restructuring initiatives:



	Three Months Ended		Six Months Ended
(in millions)	June 29, 2013		June 29, 2013
Restructuring activities:
Employee termination and other benefits	$	0.4	$	2.1
Current asset write-downs	—		0.3
Transformation and other costs:
Consolidation of manufacturing footprint	1.5		1.6
Retention and relocation costs	0.3		0.4
Exit activities:
Employee termination and other benefits	0.6		0.6
Transformation and other costs:
Loss on sale of non-strategic assets	0.5		0.5
Asset disposition actions:
Definite-lived asset impairments	—		1.6
Total restructuring, exit and impairment charges	$	3.3	$	7.1

Schedule of restructuring, exit and impairment charges by reportable segment

The restructuring, exit and impairment charges recorded in the three months and six months ended June 29, 2013, related to actions initiated in 2013, by reportable segment, are summarized below:



	Three Months Ended		Six Months Ended
(in millions)	June 29, 2013		June 29, 2013
Boat	$	1.8	$	4.9
Bowling & Billiards	1.5		1.5
Corporate	—		0.7
Total	$	3.3	$	7.1

Schedule of restructuring, exit and impairment charges by type of cost and reportable segment

The restructuring, exit and impairment charges recorded in the six months ended June 29, 2013 related to actions initiated in 2013, by reportable segment, are summarized below:



(in millions)	Boat		Bowling & Billiards		Corporate		Total
Employee termination and other benefits	$	1.0	$	1.0	$	0.7	$	2.7
Current asset write-downs	0.3		—		—		0.3
Transformation and other costs	2.0		0.5		—		2.5
Asset disposition actions	1.6		—		—		1.6
Total restructuring, exit and impairment charges	$	4.9	$	1.5	$	0.7	$	7.1

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the six months ended June 29, 2013 related to actions initiated in 2013. The accrued costs as of June 29, 2013 represent cash expenditures needed to satisfy remaining obligations, the majority of which are expected to be paid by the end of 2013 and are included in Accrued expenses in the Condensed Consolidated Balance Sheets.



(in millions)	Costs Recognized in 2013		Non-cash (Charges)/Gains			Net Cash Payments			Accrued Costs as of June 29, 2013
Employee termination and other benefits	$	2.7	$	—		$	(0.3	)	$	2.4
Current asset write-downs	0.3		(0.3		)	—			—
Transformation and other costs:
Consolidation of manufacturing footprint	1.6		—			(0.8		)	0.8
Retention and relocation costs	0.4		—			(0.4		)	—
Loss on sale of non-strategic assets	0.5		1.1			(0.4		)	1.2
Asset disposition actions:
Definite-lived asset impairments	1.6		(1.6		)	—			—
Total restructuring, exit and impairment charges	$	7.1	$	(0.8	)	$	(1.9	)	$	4.4

Actions initiated in 2012 [Member]

Restructuring Cost and Reserve [Line Items]

Summary of the expense associated with restructuring, exit and impairment activities

The following is a summary of the charges by category associated with the Company’s 2012 restructuring initiatives:



	Three Months Ended		Six Months Ended
(in millions)	June 29, 2013		June 29, 2013
Restructuring activities:
Employee termination and other benefits	$	0.1	$	0.2
Transformation and other costs:
Consolidation of manufacturing footprint	0.6		1.6
Asset disposition actions:
Definite-lived asset impairments	—		0.7
Total restructuring, exit and impairment charges	$	0.7	$	2.5

Schedule of restructuring, exit and impairment charges by reportable segment

The restructuring, exit and impairment charges recorded in the three months and six months ended June 29, 2013, related to actions initiated in 2012, by reportable segment, are summarized below. There were no restructuring charges recorded during the three months and six months ended June 30, 2012, related to actions initiated in 2012.



	Three Months Ended		Six Months Ended
(in millions)	June 29, 2013		June 29, 2013
Boat	$	0.7	$	2.5
Total	$	0.7	$	2.5

Schedule of restructuring, exit and impairment charges by type of cost and reportable segment

The restructuring and impairment charges recorded in the six months ended June 29, 2013 related to actions initiated in 2012, by reportable segment, are summarized below:



(in millions)	Boat		Total
Employee termination and other benefits	$	0.2	$	0.2
Transformation and other costs	1.6		1.6
Asset disposition actions	0.7		0.7
Total restructuring, exit and impairment charges	$	2.5	$	2.5

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the six months ended June 29, 2013 related to actions initiated in 2012. The accrued costs as of June 29, 2013 represent cash expenditures needed to satisfy remaining obligations, the majority of which are expected to be paid by the end of 2013 and are included in Accrued expenses in the Condensed Consolidated Balance Sheets.



(in millions)	Accrued Costs as of Jan. 1, 2013		Costs Recognized in 2013		Non-cash Charges			Net Cash Payments			Accrued Costs as of June 29, 2013
Employee termination and other benefits	$	1.9	$	0.2	$	—		$	(1.3	)	$	0.8
Transformation and other costs:
Consolidation of manufacturing footprint	5.2		1.6		—			(3.3		)	3.5
Asset disposition actions:
Definite-lived asset impairments	—		0.7		(0.7		)	—			—
Total restructuring, exit and impairment charges	$	7.1	$	2.5	$	(0.7	)	$	(4.6	)	$	4.3

Actions initiated between 2008 and 2011 [Member]

Restructuring Cost and Reserve [Line Items]

Summary of the expense associated with restructuring, exit and impairment activities

The following is a summary of the charges by category associated with the Company’s 2011, 2010, 2009 and 2008 restructuring initiatives:



	Three Months Ended			Six Months Ended
(in millions)	June 30, 2012			June 30, 2012
Restructuring activities:
Employee termination and other benefits	$	—		$	(0.3	)
Transformation and other costs:
Consolidation of manufacturing footprint	1.6			3.7
Exit activities:
Transformation and other costs:
Consolidation of manufacturing footprint	0.1			(0.2		)
Asset disposition actions:
Definite-lived asset impairments and (gains) on disposal	(0.9		)	(2.2		)
Total restructuring, exit and impairment charges	$	0.8		$	1.0

Schedule of restructuring, exit and impairment charges by reportable segment

There were no restructuring charges recorded during the three months and six months ended June 29, 2013, related to actions initiated between 2008 and 2011. The restructuring, exit and impairment charges recorded in the three months and six months ended June 30, 2012, related to actions initiated between 2008 and 2011, by reportable segment, are summarized below:



	Three Months Ended			Six Months Ended
(in millions)	June 30, 2012			June 30, 2012
Marine Engine	$	0.9		$	2.6
Boat	0.1			(1.4		)
Corporate	(0.2		)	(0.2		)
Total	$	0.8		$	1.0

Schedule of restructuring, exit and impairment charges by type of cost and reportable segment

The restructuring, exit and impairment charges recorded in the six months ended June 30, 2012, related to actions initiated in 2011, 2010, 2009 and 2008, by reportable segment, are summarized below:



(in millions)	Marine Engine			Boat			Corporate			Total
Employee termination and other benefits	$	(0.3	)	$	—		$	—		$	(0.3	)
Transformation and other costs	3.8			(0.1		)	(0.2		)	3.5
Asset disposition actions	(0.9		)	(1.3		)	—			(2.2		)
Total restructuring, exit and impairment charges	$	2.6		$	(1.4	)	$	(0.2	)	$	1.0

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the six months ended June 29, 2013 related to actions initiated between 2008 and 2011. The accrued costs as of June 29, 2013 represent cash expenditures needed to satisfy remaining obligations, the majority of which are expected to be paid by the end of 2015 and are included in Accrued expenses in the Condensed Consolidated Balance Sheets.



(in millions)	Accrued Costs as of Jan. 1, 2013		Costs Recognized in 2013		Non-cash Charges		Net Cash Payments			Accrued Costs as of June 29, 2013
Employee termination and other benefits	$	1.2	$	—	$	—	$	(0.6	)	$	0.6
Transformation and other costs:
Consolidation of manufacturing footprint	2.2		—		—		(0.8		)	1.4
Total restructuring, exit and impairment charges	$	3.4	$	—	$	—	$	(1.4	)	$	2.0

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References + Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References + Details