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)

9 Months Ended

Sep. 28, 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 nine months ended September 28, 2013 and September 29, 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 2012, 2010, 2009 and 2008.



	Three Months Ended				Nine Months Ended
(in millions)	September 28, 2013		September 29, 2012		September 28, 2013		September 29, 2012
Restructuring activities:
Employee termination and other benefits	$	0.1	$	0.7	$	2.4	$	0.4
Current asset write-downs	0.7		0.9		1.0		0.9
Transformation and other costs:
Consolidation of manufacturing footprint	1.9		1.5		5.1		5.2
Retention and relocation costs	—		—		0.4		—
Exit activities:
Employee termination and other benefits	0.3		—		0.9		—
Transformation and other costs:
Consolidation of manufacturing footprint	—		—		—		(0.2		)
Loss on sale of non-strategic assets	0.1		—		0.6		—
Asset disposition actions:
Trade name impairments	—		0.7		—		0.7
Definite-lived asset impairments on disposal	—		10.5		2.3		8.3
Total restructuring, exit and impairment charges	$	3.1	$	14.3	$	12.7	$	15.3

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		Nine Months Ended
(in millions)	September 28, 2013		September 28, 2013
Restructuring activities:
Employee termination and other benefits	$	0.1	$	2.2
Current asset write-downs	0.7		1.0
Transformation and other costs:
Consolidation of manufacturing footprint	1.8		3.4
Retention and relocation costs	—		0.4
Exit activities:
Employee termination and other benefits	0.3		0.9
Transformation and other costs:
Loss on sale of non-strategic assets	0.1		0.6
Asset disposition actions:
Definite-lived asset impairments	—		1.6
Total restructuring, exit and impairment charges	$	3.0	$	10.1

Schedule of restructuring, exit and impairment charges by reportable segment

The restructuring, exit and impairment charges recorded in the three months and nine months ended September 28, 2013, related to actions initiated in 2013, by reportable segment, are summarized below:



	Three Months Ended		Nine Months Ended
(in millions)	September 28, 2013		September 28, 2013
Boat	$	2.5	$	7.4
Bowling & Billiards	0.5		2.0
Corporate	—		0.7
Total	$	3.0	$	10.1

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

The restructuring, exit and impairment charges recorded in the nine months ended September 28, 2013 related to actions initiated in 2013, by reportable segment and category, are summarized below:



(in millions)	Boat		Bowling & Billiards		Corporate		Total
Employee termination and other benefits	$	1.0	$	1.4	$	0.7	$	3.1
Current asset write-downs	1.0		—		—		1.0
Transformation and other costs	3.8		0.6		—		4.4
Asset disposition actions	1.6		—		—		1.6
Total restructuring, exit and impairment charges	$	7.4	$	2.0	$	0.7	$	10.1

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the nine months ended September 28, 2013 related to actions initiated in 2013. The accrued costs as of September 28, 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 Sept. 28, 2013
Employee termination and other benefits	$	3.1	$	—		$	(0.8	)	$	2.3
Current asset write-downs	1.0		(1.0		)	—			—
Transformation and other costs:
Consolidation of manufacturing footprint	3.4		—			(2.6		)	0.8
Retention and relocation costs	0.4		—			(0.4		)	—
Loss on sale of non-strategic assets	0.6		0.7			(1.2		)	0.1
Asset disposition actions:
Definite-lived asset impairments	1.6		(1.6		)	—			—
Total restructuring, exit and impairment charges	$	10.1	$	(1.9	)	$	(5.0	)	$	3.2

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				Nine Months Ended
(in millions)	September 28, 2013		September 29, 2012		September 28, 2013		September 29, 2012
Restructuring activities:
Employee termination and other benefits	$	—	$	0.7	$	0.2	$	0.7
Current asset write-downs	—		0.9		—		0.9
Transformation and other costs:
Consolidation of manufacturing footprint	0.1		1.1		1.7		1.1
Asset disposition actions:
Trade name impairments	—		0.7		—		0.7
Definite-lived asset impairments	—		10.5		0.7		10.5
Total restructuring, exit and impairment charges	$	0.1	$	13.9	$	2.6	$	13.9

Schedule of restructuring, exit and impairment charges by reportable segment

The restructuring, exit and impairment charges recorded in the three months and nine months ended September 28, 2013 and September 29, 2012, related to actions initiated in 2012, by reportable segment, are summarized below:



	Three Months Ended				Nine Months Ended
(in millions)	September 28, 2013		September 29, 2012		September 28, 2013		September 29, 2012
Boat	$	0.1	13.8		$	2.6	13.8
Fitness	—		0.1		—		0.1
Total	$	0.1	$	13.9	$	2.6	$	13.9

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

The restructuring and impairment charges recorded in the nine months ended September 28, 2013 related to actions initiated in 2012, by reportable segment and category, are summarized below:



(in millions)	Boat		Total
Employee termination and other benefits	$	0.2	$	0.2
Transformation and other costs	1.7		1.7
Asset disposition actions	0.7		0.7
Total restructuring, exit and impairment charges	$	2.6	$	2.6

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



(in millions)	Boat		Fitness		Total
Employee termination and other benefits	$	0.6	$	0.1	$	0.7
Current asset write-downs	0.9		—		0.9
Transformation and other costs	1.1		—		1.1
Asset disposition actions	11.2		—		11.2
Total restructuring, exit and impairment charges	$	13.8	$	0.1	$	13.9

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the nine months ended September 28, 2013 related to actions initiated in 2012. The accrued costs as of September 28, 2013 represent cash expenditures needed to satisfy remaining obligations, the majority of which are expected to be paid by the end of 2014 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 Sept. 28, 2013
Employee termination and other benefits	$	1.9	$	0.2	$	—		$	(1.8	)	$	0.3
Transformation and other costs:
Consolidation of manufacturing footprint	5.2		1.7		—			(4.0		)	2.9
Asset disposition actions:
Definite-lived asset impairments	—		0.7		(0.7		)	—			—
Total restructuring, exit and impairment charges	$	7.1	$	2.6	$	(0.7	)	$	(5.8	)	$	3.2

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		Nine Months Ended
(in millions)	September 29, 2012		September 29, 2012
Restructuring activities:
Employee termination and other benefits	$	—	$	(0.3	)
Transformation and other costs:
Consolidation of manufacturing footprint	0.4		4.1
Exit activities:
Transformation and other costs:
Consolidation of manufacturing footprint	—		(0.2		)
Asset disposition actions:
Definite-lived asset gains on disposal	—		(2.2		)
Total restructuring, exit and impairment charges	$	0.4	$	1.4

Schedule of restructuring, exit and impairment charges by reportable segment

There were no restructuring charges recorded during the three months and nine months ended September 28, 2013, related to actions initiated between 2008 and 2011. The restructuring, exit and impairment charges recorded in the three months and nine months ended September 29, 2012, related to actions initiated between 2008 and 2011, by reportable segment, are summarized below:



	Three Months Ended		Nine Months Ended
(in millions)	September 29, 2012		September 29, 2012
Marine Engine	$	0.4	$	3.0
Boat	—		(1.4		)
Corporate	—		(0.2		)
Total	$	0.4	$	1.4

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

The restructuring, exit and impairment charges recorded in the nine months ended September 29, 2012, related to actions initiated between 2008 and 2011, by reportable segment and category, are summarized below:



(in millions)	Marine Engine			Boat			Corporate			Total
Employee termination and other benefits	$	(0.3	)	$	—		$	—		$	(0.3	)
Transformation and other costs	4.2			(0.1		)	(0.2		)	3.9
Asset disposition actions	(0.9		)	(1.3		)	—			(2.2		)
Total restructuring, exit and impairment charges	$	3.0		$	(1.4	)	$	(0.2	)	$	1.4

Schedule of changes in restructuring reserve

The following table summarizes the activity for restructuring, exit and impairment charges during the nine months ended September 28, 2013 related to actions initiated between 2008 and 2011. The accrued costs as of September 28, 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 Sept. 28, 2013
Employee termination and other benefits	$	1.2	$	—	$	—	$	(0.7	)	$	0.5
Transformation and other costs:
Consolidation of manufacturing footprint	2.2		—		—		(1.0		)	1.2
Total restructuring, exit and impairment charges	$	3.4	$	—	$	—	$	(1.7	)	$	1.7