Company Quick10K Filing
Brunswick
Price51.00 EPS-2
Shares86 P/E-29
MCap4,412 P/FCF20
Net Debt773 EBIT-32
TEV5,185 TEV/EBIT-164
TTM 2019-09-28, in MM, except price, ratios
10-Q 2020-03-28 Filed 2020-05-07
10-K 2019-12-31 Filed 2020-02-18
10-Q 2019-09-28 Filed 2019-10-30
10-Q 2019-06-29 Filed 2019-08-02
10-Q 2019-03-30 Filed 2019-05-01
10-K 2018-12-31 Filed 2019-02-19
10-Q 2018-09-29 Filed 2018-10-31
10-Q 2018-06-30 Filed 2018-08-01
10-Q 2018-03-31 Filed 2018-05-03
10-K 2017-12-31 Filed 2018-02-20
10-Q 2017-09-30 Filed 2017-11-01
10-Q 2017-07-01 Filed 2017-08-02
10-Q 2017-04-01 Filed 2017-05-04
10-K 2016-12-31 Filed 2017-02-17
10-Q 2016-10-01 Filed 2016-11-02
10-Q 2016-07-02 Filed 2016-08-03
10-Q 2016-04-02 Filed 2016-05-05
10-K 2015-12-31 Filed 2016-02-17
10-Q 2015-10-03 Filed 2015-11-04
10-Q 2015-07-04 Filed 2015-08-05
10-Q 2015-04-04 Filed 2015-05-07
10-K 2014-12-31 Filed 2015-02-20
10-Q 2014-09-27 Filed 2014-10-31
10-Q 2014-06-28 Filed 2014-07-31
10-Q 2014-03-29 Filed 2014-04-30
10-K 2013-12-31 Filed 2014-02-14
10-Q 2013-09-28 Filed 2013-10-31
10-Q 2013-06-29 Filed 2013-07-31
10-Q 2013-03-30 Filed 2013-05-01
10-K 2012-12-31 Filed 2013-02-21
10-Q 2012-09-29 Filed 2012-11-02
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-04
10-K 2011-12-31 Filed 2012-02-23
10-Q 2011-10-01 Filed 2011-11-07
10-Q 2011-07-02 Filed 2011-08-09
10-Q 2011-04-02 Filed 2011-05-06
10-K 2010-12-31 Filed 2011-02-18
10-Q 2010-10-02 Filed 2010-11-05
10-Q 2010-07-03 Filed 2010-08-06
10-Q 2010-04-03 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-02-23
8-K 2020-07-30 Earnings, Exhibits
8-K 2020-06-17
8-K 2020-04-30
8-K 2020-03-23
8-K 2020-03-20
8-K 2020-01-30
8-K 2019-12-19
8-K 2019-11-12
8-K 2019-10-24
8-K 2019-07-25
8-K 2019-06-27
8-K 2019-05-13
8-K 2019-05-06
8-K 2019-05-05
8-K 2019-04-25
8-K 2019-04-04
8-K 2019-03-15
8-K 2019-03-04
8-K 2019-01-31
8-K 2018-12-18
8-K 2018-12-07
8-K 2018-12-07
8-K 2018-12-03
8-K 2018-10-25
8-K 2018-10-25
8-K 2018-10-16
8-K 2018-10-03
8-K 2018-09-26
8-K 2018-08-07
8-K 2018-07-26
8-K 2018-07-19
8-K 2018-07-18
8-K 2018-06-28
8-K 2018-06-26
8-K 2018-04-26
8-K 2018-03-01
8-K 2018-02-01

BC 10Q Quarterly Report

Part I - Financial Information
Item 1. Condensed Consolidated Financial Statements
Note 1 - Significant Accounting Policies
Note 2 - Revenue Recognition
Note 4 - Restructuring, Exit and Impairment Activities
Note 5 - Acquisitions
Note 6 - Financial Instruments
Note 7 - Fair Value Measurements
Note 8 - Share - Based Compensation
Note 9 - Commitments and Contingencies
Note 10 - Goodwill and Other Intangibles
Note 11 - Segment Data
Note 12 - Comprehensive Income
Note 13 - Income Taxes
Note 14 - Postretirement Benefits
Note 15 - Debt
Note 16 - Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 5. Other Information
Item 6. Exhibits
EX-31.1 bc20200328ex311.htm
EX-31.2 bc20200328ex312.htm
EX-32.1 bc20200328ex321.htm
EX-32.2 bc20200328ex322.htm

Brunswick Earnings 2020-03-28

Balance SheetIncome StatementCash Flow
4.43.52.61.80.90.02012201420172020
Assets, Equity
1.51.10.80.40.1-0.32012201420172020
Rev, G Profit, Net Income
0.80.40.1-0.3-0.6-1.02012201420172020
Ops, Inv, Fin

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the quarterly period ended March 28, 2020
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     

Commission file number 001-01043
____________
 smallhiresd06.jpg
Brunswick Corporation

(Exact name of registrant as specified in its charter)
Delaware
 
36-0848180
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
26125 N. Riverwoods Blvd., Suite 500, Mettawa, IL 60045-3420

(Address of principal executive offices) (Zip code)
(847) 735-4700  

(Registrant’s telephone number, including area code) 
 N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   No
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes   No
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
Accelerated Filer
 
 
 
 
Non-accelerated Filer
Smaller reporting company
 
 
 
 
Emerging growth company
 
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
 
Trading Symbol(s)
 
Name of Each Exchange on Which Registered
Common stock, par value $0.75 per share
 
BC
 
New York Stock Exchange
 
 
Chicago Stock Exchange
6.500% Senior Notes due 2048
 
BC-A
 
New York Stock Exchange
6.625% Senior Notes due 2049
 
BC-B
 
New York Stock Exchange
6.375% Senior Notes due 2049
 
BC-C
 
New York Stock Exchange
The number of shares of Common Stock ($0.75 par value) of the registrant outstanding as of May 4, 2020 was 79,128,451.



BRUNSWICK CORPORATION
INDEX TO QUARTERLY REPORT ON FORM 10-Q
March 28, 2020
 
 
TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
Page
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PART II – OTHER INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 



PART I - FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

BRUNSWICK CORPORATION
Condensed Consolidated Statements of Comprehensive Income
(unaudited)

 
Three Months Ended
(in millions, except per share data)
March 28,
2020
 
March 30,
2019
Net sales
$
965.5

 
$
1,050.7

Cost of sales
721.7

 
771.2

Selling, general and administrative expense
111.3

 
133.5

Research and development expense
28.9

 
28.7

Restructuring, exit and impairment charges
0.4

 
3.2

Operating earnings
103.2

 
114.1

Equity earnings
1.8

 
1.9

Other income (expense), net
0.7

 
(1.6
)
Earnings before interest and income taxes
105.7

 
114.4

Interest expense
(16.9
)
 
(19.8
)
Interest income
0.3

 
0.4

Earnings before income taxes
89.1

 
95.0

Income tax provision
18.4

 
18.8

Net earnings from continuing operations
70.7

 
76.2

 
 
 
 
Discontinued operations:
 
 
 
Loss from discontinued operations, net of tax
(0.6
)
 
(112.5
)
Loss on disposal of discontinued operations, net of tax
(1.1
)
 

Net loss from discontinued operations, net of tax
(1.7
)
 
(112.5
)
Net earnings (loss)
$
69.0

 
$
(36.3
)
 
 
 
 
Earnings (loss) per common share:
 
 
 
Basic
 
 
 
Earnings from continuing operations
$
0.88

 
$
0.87

Loss from discontinued operations
(0.02
)
 
(1.29
)
Net earnings (loss)
$
0.86

 
$
(0.42
)
 
 
 
 
Diluted
 
 
 
Earnings from continuing operations
$
0.88

 
$
0.87

Loss from discontinued operations
(0.02
)
 
(1.28
)
Net earnings (loss)
$
0.86

 
$
(0.41
)
 
 
 
 
Weighted average shares used for computation of:
 
 
 
Basic earnings (loss) per common share
80.0

 
87.5

Diluted earnings (loss) per common share
80.3

 
88.0

 
 
 
 
Comprehensive income (loss)
$
61.1

 
$
(35.3
)
 
 
 
 
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.


3


BRUNSWICK CORPORATION
Condensed Consolidated Balance Sheets
(unaudited)
(in millions)
March 28,
2020
 
December 31,
2019
 
March 30,
2019
Assets
 
 
 
 
 
Current assets
 
 
 
 
 
Cash and cash equivalents, at cost, which approximates fair value
$
502.9

 
$
320.3

 
$
161.5

Restricted cash
11.6

 
11.6

 
9.1

Short-term investments in marketable securities
0.8

 
0.8

 
0.8

Total cash and short-term investments in marketable securities
515.3

 
332.7

 
171.4

Accounts and notes receivable, less allowances of $12.0, $8.5 and $8.1
465.4

 
331.8

 
499.2

Inventories
 
 
 
 
 
Finished goods
549.3

 
554.3

 
520.8

Work-in-process
108.3

 
101.3

 
103.7

Raw materials
182.5

 
168.9

 
192.8

Net inventories
840.1

 
824.5

 
817.3

Prepaid expenses and other
49.0

 
36.8

 
80.5

Current assets held for sale

 

 
369.4

Current assets
1,869.8

 
1,525.8

 
1,937.8

 
 
 
 
 
 
Property
 

 
 

 
 

Land
17.8

 
17.8

 
16.5

Buildings and improvements
419.7

 
415.4

 
367.5

Equipment
1,107.3

 
1,090.1

 
1,000.3

Total land, buildings and improvements and equipment
1,544.8

 
1,523.3

 
1,384.3

Accumulated depreciation
(877.3
)
 
(863.8
)
 
(805.5
)
Net land, buildings and improvements and equipment
667.5

 
659.5

 
578.8

Unamortized product tooling costs
143.1

 
136.9

 
124.7

Net property
810.6

 
796.4

 
703.5

 
 
 
 
 
 
Other assets
 

 
 

 
 

Goodwill
414.0

 
415.0

 
381.8

Other intangibles, net
575.0

 
583.5

 
578.1

Operating lease assets
82.3

 
83.2


79.5

Deferred income tax asset
109.7

 
118.7

 
110.5

Equity investments
31.3

 
29.5

 
35.5

Other long-term assets
11.9

 
12.3


15.7

Long-term assets held for sale

 

 
492.5

Other assets
1,224.2

 
1,242.2

 
1,693.6

 
 
 
 
 
 
Total assets
$
3,904.6

 
$
3,564.4

 
$
4,334.9

 
 
 
 
 
 
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

4


BRUNSWICK CORPORATION
Condensed Consolidated Balance Sheets
(unaudited)

(in millions)
March 28,
2020
 
December 31,
2019
 
March 30,
2019
Liabilities and shareholders’ equity
 
 
 
 
 
Current liabilities
 
 
 
 
 
Short-term debt and current maturities of long-term debt
$
425.7

 
$
41.3

 
$
40.9

Accounts payable
366.8

 
393.5

 
420.6

Accrued expenses
493.7

 
509.6

 
503.3

Current liabilities held for sale

 

 
240.9

Current liabilities
1,286.2

 
944.4

 
1,205.7

 
 
 
 
 
 
Long-term liabilities
 

 
 

 
 

Debt
1,069.0

 
1,068.0

 
1,245.6

Operating lease liabilities
69.6

 
70.1


67.0

Postretirement benefits
72.1


73.6


70.0

Other
104.0

 
107.4


100.4

Long-term liabilities held for sale

 

 
119.3

Long-term liabilities
1,314.7

 
1,319.1

 
1,602.3

 
 
 
 
 
 
Shareholders’ equity
 

 
 

 
 

Common stock; authorized: 200,000,000 shares, $0.75 par value; issued: 102,538,000 shares; outstanding: 79,114,000, 79,569,000 and 87,063,000 shares
76.9

 
76.9

 
76.9

Additional paid-in capital
358.8

 
369.2

 
359.9

Retained earnings
1,981.1

 
1,931.3

 
2,081.1

Treasury stock, at cost: 23,424,000, 22,969,000 and 15,475,000 shares
(1,051.8
)
 
(1,023.1
)
 
(628.9
)
Accumulated other comprehensive loss
(61.3
)
 
(53.4
)
 
(362.1
)
Shareholders’ equity
1,303.7

 
1,300.9

 
1,526.9

 
 
 
 
 
 
Total liabilities and shareholders’ equity
$
3,904.6

 
$
3,564.4

 
$
4,334.9

 
 
 
 
 
 
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

5


BRUNSWICK CORPORATION
Condensed Consolidated Statements of Cash Flows
(unaudited)
 
Three Months Ended
(in millions)
March 28,
2020
 
March 30,
2019
Cash flows from operating activities
 
 
 
Net earnings (loss)
$
69.0

 
$
(36.3
)
Less: net loss from discontinued operations, net of tax
(1.7
)
 
(112.5
)
Net earnings from continuing operations, net of tax
70.7

 
76.2

Stock compensation expense
(0.1
)
 
2.8

Depreciation and amortization
35.2

 
33.1

Pension expense, net of (funding)
(0.6
)
 
0.3

Asset impairment charges

 
1.5

Deferred income taxes
10.6

 
8.6

Changes in certain current assets and current liabilities
(196.9
)
 
(202.7
)
Long-term extended warranty contracts and other deferred revenue
1.0

 
1.5

Income taxes
(2.5
)
 
4.2

Other, net
(1.3
)
 
1.3

Net cash used for operating activities of continuing operations
(83.9
)
 
(73.2
)
Net cash provided by (used for) operating activities of discontinued operations
4.8

 
(6.2
)
Net cash used for operating activities
(79.1
)
 
(79.4
)
 
 
 
 
Cash flows from investing activities
 

 
 

Capital expenditures
(55.9
)
 
(86.2
)
Investments
(3.6
)
 
(2.8
)
Proceeds from the sale of property, plant and equipment
0.4

 

Net cash used for investing activities of continuing operations
(59.1
)
 
(89.0
)
Net cash used for investing activities of discontinued operations

 
(2.9
)
Net cash used for investing activities
(59.1
)
 
(91.9
)
 
 
 
 
Cash flows from financing activities
 

 
 

Proceeds from issuances of short-term debt
610.0

 
215.0

Payments of short-term debt
(225.0
)
 
(215.0
)
Net proceeds from issuances of long-term debt

 
222.0

Payments of long-term debt including current maturities
(0.3
)
 
(159.0
)
Common stock repurchases
(34.1
)
 

Cash dividends paid
(19.2
)
 
(18.3
)
Proceeds from share-based compensation activity
0.4

 
0.5

Tax withholding associated with shares issued for share-based compensation
(6.5
)
 
(6.8
)
Other, net
(0.1
)
 
(0.2
)
Net cash provided by financing activities
325.2

 
38.2

 
 
 
 
Effect of exchange rate changes
(4.4
)
 
0.3

Net increase (decrease) in Cash and cash equivalents and Restricted cash
182.6

 
(132.8
)
Cash and cash equivalents and Restricted cash at beginning of period
331.9

 
303.4

 
 
 
 
Cash and cash equivalents and Restricted cash at end of period
514.5

 
170.6

     Less: Restricted cash
11.6

 
9.1

Cash and cash equivalents at end of period
$
502.9

 
$
161.5

 
 
 
 
The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

 
 

6


Brunswick Corporation
Condensed Consolidated Statements of Shareholders' Equity
(unaudited)
(in millions, except per share data)
Common Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Treasury Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Total
Balance at December 31, 2019
$
76.9

 
$
369.2

 
$
1,931.3

 
$
(1,023.1
)
 
$
(53.4
)
 
$
1,300.9

Net earnings

 

 
69.0

 

 

 
69.0

Other comprehensive loss

 

 

 

 
(7.9
)
 
(7.9
)
Dividends ($0.24 per common share)

 

 
(19.2
)
 

 

 
(19.2
)
Compensation plans and other

 
(10.4
)
 

 
5.4

 

 
(5.0
)
Common stock repurchases

 

 

 
(34.1
)
 

 
(34.1
)
Balance at March 28, 2020
$
76.9

 
$
358.8

 
$
1,981.1

 
$
(1,051.8
)
 
$
(61.3
)
 
$
1,303.7


(in millions, except per share data)
Common Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Treasury Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Total
Balance at December 31, 2018
$
76.9

 
$
371.1

 
$
2,135.7

 
$
(638.0
)
 
$
(363.1
)
 
$
1,582.6

Net loss

 

 
(36.3
)
 

 

 
(36.3
)
Other comprehensive income

 

 

 

 
1.0

 
1.0

Dividends ($0.21 per common share)

 

 
(18.3
)
 

 

 
(18.3
)
Compensation plans and other

 
(11.2
)
 

 
9.1

 

 
(2.1
)
Balance at March 30, 2019
$
76.9

 
$
359.9

 
$
2,081.1

 
$
(628.9
)
 
$
(362.1
)
 
$
1,526.9


The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated statements.

7


BRUNSWICK CORPORATION
Notes to Condensed Consolidated Financial Statements
(unaudited)
 
Note 1 – Significant Accounting Policies

Basis of Presentation. Effective January 1, 2020, the Company changed its management reporting and updated its reportable segments to Propulsion, Parts and Accessories (P&A) and Boat (inclusive of Business Acceleration) to align with its strategy. As a result of this change, the Company has recast all segment information for all prior periods presented. Refer to Note 11 – Segment Data for further information on the Company's reportable segments.

Interim Financial Statements. The unaudited interim condensed consolidated financial statements of Brunswick Corporation (Brunswick or the Company) have been prepared pursuant to Securities and Exchange Commission (SEC) rules and regulations. Therefore, certain information and disclosures normally included in financial statements and related notes prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted.

These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Brunswick’s 2019 Annual Report on Form 10-K for the year ended December 31, 2019 (the 2019 Form 10-K). These results include, in management's opinion, all normal and recurring adjustments necessary to present fairly Brunswick's financial position, results of operations and cash flows. Due to the seasonality of Brunswick’s businesses, the interim results are not necessarily indicative of the results that may be expected for the remainder of the year.

The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The first quarter of fiscal year 2020 ended on March 28, 2020 and the first quarter of fiscal year 2019 ended on March 30, 2019.

On June 27, 2019, the Company completed the sale of its Fitness business. The Company determined that the sale of its Fitness business represented a strategic shift that had a major effect on the Company's operations and financial results. As a result, the Company classified the assets and liabilities of the Fitness business as held for sale on the Condensed Consolidated Balance Sheets for all prior periods. Additionally, this business, which was previously reported in the Company's Fitness segment, is being reported as discontinued operations in the Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flows for all periods presented. See Note 3 – Discontinued Operations for further information.

Recently Adopted Accounting Standards

Current Expected Credit Loss: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Measurement of Credit Losses on Financial Instruments, which updated the Accounting Standards Codification (ASC) to add an impairment model that is based on expected losses rather than incurred losses. On January 1, 2020, the Company adopted this standard and the adoption did not have an impact on the condensed consolidated financial statements.


8

Notes to Condensed Consolidated Financial Statements
(unaudited)
    

Note 2 – Revenue Recognition

Consistent with the Company's change in reportable segments as described in Note 1 – Significant Accounting Policies, the Company has made a change to its revenue disaggregation presentation to align with the new segment structure. The following table presents the Company's revenue into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors:
 
Three Months Ended
 
March 28, 2020
(in millions)
Propulsion
 
Parts & Accessories
 
Boat
 
Total
Geographic Markets
 
 
 
 
 
 
 
United States
$
290.9

 
$
210.9

 
$
215.5

 
$
717.3

Europe
69.6

 
42.8

 
35.1

 
147.5

Asia-Pacific
49.3

 
24.7

 
5.6

 
79.6

Canada
14.1

 
13.7

 
31.8

 
59.6

Rest-of-World
24.7

 
9.5

 
3.5

 
37.7

Segment Eliminations
(69.1
)
 
(7.1
)
 

 
(76.2
)
Total
$
379.5

 
$
294.5

 
$
291.5

 
$
965.5

 
 
 
 
 
 
 
 
Major Product Lines
 
 
 
 
 
 
 
Outboard Engines
$
353.8

 
$

 
$

 
$
353.8

Controls, Rigging, and Propellers
57.5

 

 

 
57.5

Sterndrive Engines
37.3

 

 

 
37.3

Distribution Parts and Accessories

 
121.3

 

 
121.3

Advanced Systems Group

 
103.1

 

 
103.1

Engine Parts and Accessories

 
77.2

 

 
77.2

Aluminum Freshwater Boats

 

 
120.5

 
120.5

Recreational Fiberglass Boats

 

 
101.8

 
101.8

Saltwater Fishing Boats

 

 
59.8

 
59.8

Business Acceleration

 

 
9.4

 
9.4

Segment Eliminations
(69.1
)
 
(7.1
)
 

 
(76.2
)
Total
$
379.5

 
$
294.5

 
$
291.5

 
$
965.5



9

Notes to Condensed Consolidated Financial Statements
(unaudited)
    

 
Three Months Ended
 
March 30, 2019
(in millions)
Propulsion
 
Parts & Accessories
 
Boat
 
Total
Geographic Markets
 
 
 
 
 
 
 
United States
$
309.8

 
$
214.4

 
$
273.9

 
$
798.1

Europe
73.1