falsedesktopBGG2020-03-29000001419520000029{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPage No.\nPART I - FINANCIAL INFORMATION\t\t\t\t\t\nItem 1.\tFinancial Statements\t\n\tCondensed Consolidated Balance Sheets - March 29 2020 and June 30 2019\t3\n\tCondensed Consolidated Statements of Operations - Three and Nine Months Ended March 29 2020 and March 31 2019\t5\n\tCondensed Consolidated Statements of Comprehensive Loss - Three and Nine Months Ended March 29 2020 and March 31 2019\t6\n\tCondensed Consolidated Statements of Shareholders' Investment - Three and Nine Months Ended March 29 2020 and March 31 2019\t7\n\tCondensed Consolidated Statements of Cash Flows - Nine Months Ended March 29 2020 and March 31 2019\t9\n\tNotes to Condensed Consolidated Financial Statements\t11\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t39\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t53\nItem 4.\tControls and Procedures\t53\nPART II - OTHER INFORMATION\t\t\t\t\t\nItem 1.\tLegal Proceedings\t54\nItem 1A.\tRisk Factors\t54\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t57\nItem 6.\tExhibits\t58\nSignatures\t\t\t59\t\t\n", "q10k_tbl_1": "\tMarch 29 2020\tJune 30 2019\nCURRENT ASSETS:\t\t\nCash and Cash Equivalents\t44413\t29569\nAccounts Receivable Net\t236341\t198498\nInventories -\t\t\nFinished Products\t358011\t344277\nWork in Process\t153993\t145182\nRaw Materials\t14510\t12547\nTotal Inventories\t526514\t502006\nPrepaid Expenses and Other Current Assets\t36381\t32404\nTotal Current Assets\t843649\t762477\nOTHER ASSETS:\t\t\nGoodwill\t100360\t169682\nInvestments\t30554\t49641\nOther Intangible Assets Net\t95064\t96738\nLong-Term Deferred Income Tax Asset\t4364\t43172\nOther Long-Term Assets Net\t21149\t18676\nRight of Use Asset\t103924\t0\nTotal Other Assets\t355415\t377909\nPLANT AND EQUIPMENT:\t\t\nCost\t1238822\t1220339\nLess - Accumulated Depreciation\t848488\t809294\nTotal Plant and Equipment Net\t390334\t411045\nTOTAL ASSETS\t1589398\t1551431\n", "q10k_tbl_2": "\tMarch 29 2020\tJune 30 2019\nCURRENT LIABILITIES:\t\t\nAccounts Payable\t192114\t287620\nShort-Term Debt\t597473\t160540\nAccrued Liabilities\t128987\t129585\nShort-Term Lease Obligations\t11710\t0\nTotal Current Liabilities\t930284\t577745\nOTHER LIABILITIES:\t\t\nAccrued Pension Cost\t209318\t221033\nAccrued Employee Benefits\t21110\t21311\nAccrued Postretirement Health Care Obligation\t22035\t25929\nAccrued Warranty\t19406\t19572\nOther Long-Term Liabilities\t57838\t44152\nLong-Term Lease Obligations\t90067\t0\nLong-Term Debt\t0\t194969\nTotal Other Liabilities\t419774\t526966\nSHAREHOLDERS' INVESTMENT:\t\t\nCommon Stock - Authorized 120000 shares $.01 par value issued 57854 shares\t579\t579\nAdditional Paid-In Capital\t72341\t78902\nRetained Earnings\t796426\t993873\nAccumulated Other Comprehensive Loss\t(305891)\t(292550)\nTreasury Stock at cost 15399 and 15796 shares respectively\t(324115)\t(334084)\nTotal Shareholders' Investment\t239340\t446720\nTOTAL LIABILITIES AND SHAREHOLDERS' INVESTMENT\t1589398\t1551431\n", "q10k_tbl_3": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nNET SALES\t473535\t580196\t1225195\t1364655\nCOST OF GOODS SOLD\t410071\t483209\t1050460\t1131422\nGross Profit\t63464\t96987\t174735\t233233\nENGINEERING SELLING GENERAL AND ADMINISTRATIVE EXPENSES\t74897\t79521\t232758\t267553\nGOODWILL IMPAIRMENT\t67480\t0\t67480\t0\nEQUITY IN EARNINGS (LOSS) OF UNCONSOLIDATED AFFILIATES\t(2746)\t(205)\t(537)\t5786\nIncome (Loss) from Operations\t(81659)\t17261\t(126040)\t(28534)\nINTEREST EXPENSE\t(9521)\t(9088)\t(25390)\t(21731)\nOTHER INCOME (EXPENSE) Net\t(1773)\t953\t(2904)\t391\nIncome (Loss) Before Income Taxes\t(92953)\t9126\t(154334)\t(49874)\nPROVISION (CREDIT) FOR INCOME TAXES\t51653\t1121\t39253\t(14331)\nNET INCOME (LOSS)\t(144606)\t8005\t(193587)\t(35543)\nEARNINGS (LOSS) PER SHARE\t\t\t\t\nBasic\t(3.47)\t0.19\t(4.65)\t(0.86)\nDiluted\t(3.47)\t0.19\t(4.65)\t(0.86)\nWEIGHTED AVERAGE SHARES OUTSTANDING\t\t\t\t\nBasic\t41726\t41527\t41685\t41691\nDiluted\t41726\t41527\t41685\t41691\nDIVIDENDS PER SHARE\t0\t0.14\t0.10\t0.42\n", "q10k_tbl_4": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nNet Income (Loss)\t(144606)\t8005\t(193587)\t(35543)\nOther Comprehensive Income (Loss):\t\t\t\t\nCumulative Translation Adjustments\t(12332)\t1196\t(14589)\t(2230)\nUnrealized Loss on Derivative Instruments Net of Tax\t(8183)\t(4157)\t(9571)\t(8635)\nUnrecognized Pension & Postretirement Obligation Net of Tax\t3607\t2708\t10819\t8116\nOther Comprehensive Loss\t(16908)\t(253)\t(13341)\t(2749)\nTotal Comprehensive Income (Loss)\t(161514)\t7752\t(206928)\t(38292)\n", "q10k_tbl_5": "FOR THE THREE MONTHS ENDED MARCH 29 2020\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal Shareholders' Investment\nBALANCES DECEMBER 29 2019\t579\t70901\t940616\t(288983)\t(323583)\t399530\nNet Loss\t0\t0\t(144606)\t0\t0\t(144606)\nTotal Other Comprehensive Loss Net of Tax\t0\t0\t0\t(16908)\t0\t(16908)\nStock Option Activity Net of Tax\t0\t345\t0\t0\t0\t345\nRestricted Stock\t0\t474\t0\t0\t(532)\t(58)\nAmortization of Unearned Compensation\t0\t599\t0\t0\t0\t599\nDeferred Stock - Directors\t0\t22\t416\t0\t0\t438\nBALANCES MARCH 29 2020\t579\t72341\t796426\t(305891)\t(324115)\t239340\n", "q10k_tbl_6": "FOR THE THREE MONTHS ENDED MARCH 31 2019\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal Shareholders' Investment\nBALANCES DECEMBER 30 2018\t579\t77310\t1016205\t(254768)\t(333907)\t505419\nNet Income\t0\t0\t8005\t0\t0\t8005\nTotal Other Comprehensive Loss Net of Tax\t0\t0\t0\t(253)\t0\t(253)\nCash Dividends Declared ($0.14 per share)\t0\t0\t(5895)\t0\t0\t(5895)\nRestricted Stock\t0\t0\t0\t0\t(241)\t(241)\nAmortization of Unearned Compensation\t0\t490\t0\t0\t0\t490\nDeferred Stock - Directors\t0\t(277)\t(50)\t0\t853\t526\nTreasury Stock Purchases\t0\t0\t0\t0\t(508)\t(508)\nBALANCES MARCH 31 2019\t579\t77523\t1018265\t(255021)\t(333803)\t507543\n", "q10k_tbl_7": "FOR THE NINE MONTHS ENDED MARCH 29 2020\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal Shareholders' Investment\nBALANCES JUNE 30 2019\t579\t78902\t993873\t(292550)\t(334084)\t446720\nNet Loss\t0\t0\t(193587)\t0\t0\t(193587)\nTotal Other Comprehensive Loss Net of Tax\t0\t0\t0\t(13341)\t0\t(13341)\nCash Dividends Declared ($0.10 per share)\t0\t0\t(4248)\t0\t0\t(4248)\nStock Option Activity Net of Tax\t0\t1103\t0\t0\t0\t1103\nRestricted Stock\t0\t(9561)\t0\t0\t9079\t(482)\nAmortization of Unearned Compensation\t0\t1880\t0\t0\t0\t1880\nDeferred Stock\t0\t(597)\t0\t0\t542\t(55)\nDeferred Stock - Directors\t0\t614\t388\t0\t348\t1350\nBALANCES MARCH 29 2020\t579\t72341\t796426\t(305891)\t(324115)\t239340\n", "q10k_tbl_8": "FOR THE NINE MONTHS ENDED MARCH 31 2019\tCommon Stock\tAdditional Paid in Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss)\tTreasury Stock\tTotal Shareholders' Investment\nBALANCES JULY 1 2018\t579\t76408\t1071480\t(252272)\t(325771)\t570424\nNet Loss\t0\t0\t(35543)\t0\t0\t(35543)\nTotal Other Comprehensive Loss Net of Tax\t0\t0\t0\t(2749)\t0\t(2749)\nCash Dividends Declared ($0.28 per share)\t0\t0\t(17492)\t0\t0\t(17492)\nStock Option Activity Net of Tax\t0\t(43)\t0\t0\t1862\t1819\nRestricted Stock\t0\t(72)\t0\t0\t670\t598\nAmortization of Unearned Compensation\t0\t1886\t0\t0\t0\t1886\nDeferred Stock\t0\t(879)\t0\t0\t520\t(359)\nDeferred Stock - Directors\t0\t223\t(180)\t0\t853\t896\nTreasury Stock Purchases\t0\t0\t0\t0\t(11937)\t(11937)\nBALANCES MARCH 31 2019\t579\t77523\t1018265\t(255021)\t(333803)\t507543\n", "q10k_tbl_9": "\tNine Months Ended\t\n\tMarch 29 2020\tMarch 31 2019\nCASH FLOWS FROM OPERATING ACTIVITIES:\t\t\nNet Loss\t(193587)\t(35543)\nAdjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:\t\t\nDepreciation and Amortization\t54819\t47385\nStock Compensation Expense\t4468\t5496\nGoodwill Impairment\t67480\t0\nLoss on Disposition of Plant and Equipment\t1412\t66\nProvision (Credit) for Deferred Income Taxes\t36294\t(19247)\nEquity in Earnings of Unconsolidated Affiliates\t(3302)\t(8403)\nDividends Received from Unconsolidated Affiliates\t10376\t10510\nLoss on Disposition of Unconsolidated Affiliates\t1000\t0\nChange in Operating Assets and Liabilities:\t\t\nAccounts Receivable\t(41447)\t(70876)\nInventories\t(26843)\t(113407)\nOther Current Assets\t(3301)\t(856)\nAccounts Payable Accrued Liabilities and Income Taxes\t(75314)\t77905\nOther Net\t(1633)\t2079\nNet Cash Used in Operating Activities\t(169578)\t(104891)\nCASH FLOWS FROM INVESTING ACTIVITIES:\t\t\nCapital Expenditures (3)\t(43066)\t(46379)\nProceeds Received on Disposition of Plant and Equipment\t2680\t31\nCash Paid for Acquisition Net of Cash Acquired\t0\t(8865)\nNet Cash Used in Investing Activities\t(40386)\t(55213)\nCASH FLOWS FROM FINANCING ACTIVITIES:\t\t\nNet Borrowings on Credit Facilities\t241684\t163509\nRepayments on Long-Term Debt\t0\t(5424)\nDebt Issuance Costs\t(6161)\t0\nTreasury Stock Purchases\t0\t(11937)\nStock Option Exercise Proceeds and Tax Benefits\t0\t1823\nCash Dividends Paid\t(10136)\t(11891)\nPayments Related to Shares Withheld for Taxes for Stock Compensation\t(55)\t(257)\nNet Cash Provided by Financing Activities\t225332\t135823\nEFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS\t(570)\t(239)\nNET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS\t14798\t(24520)\nCASH CASH EQUIVALENTS AND RESTRICTED CASH Beginning (1)\t30342\t49218\nCASH CASH EQUIVALENTS AND RESTRICTED CASH Ending (2)\t45140\t24698\n", "q10k_tbl_10": "\tThree Months Ended March 29 2020\t\t\t\n\tCumulative Translation Adjustments\tDerivative Financial Instruments\tPension and Postretirement Benefit Plans\tTotal\nBeginning Balance\t(34024)\t(8454)\t(246505)\t(288983)\nOther Comprehensive Income (Loss) Before Reclassification\t(12332)\t(10600)\t(12)\t(22944)\nIncome Tax Expense (Benefit)\t0\t2544\t3\t2547\nNet Other Comprehensive Income (Loss) Before Reclassifications\t(12332)\t(8056)\t(9)\t(20397)\nReclassifications:\t\t\t\t\nRealized (Gains) Losses - Foreign Currency Contracts (1)\t0\t(446)\t0\t(446)\nRealized (Gains) Losses - Commodity Contracts (1)\t0\t175\t0\t175\nRealized (Gains) Losses - Interest Rate Swaps (1)\t0\t104\t0\t104\nAmortization of Prior Service Costs (Credits) (2)\t0\t0\t19\t19\nAmortization of Actuarial Losses (2)\t0\t0\t4739\t4739\nTotal Reclassifications Before Tax\t0\t(167)\t4758\t4591\nIncome Tax Expense (Benefit)\t0\t40\t(1142)\t(1102)\nNet Reclassifications\t0\t(127)\t3616\t3489\nOther Comprehensive Income (Loss)\t(12332)\t(8183)\t3607\t(16908)\nEnding Balance\t(46356)\t(16637)\t(242898)\t(305891)\n", "q10k_tbl_11": "\tThree Months Ended March 31 2019\t\t\t\n\tCumulative Translation Adjustments\tDerivative Financial Instruments\tPension and Postretirement Benefit Plans\tTotal\nBeginning Balance\t(32354)\t2008\t(224422)\t(254768)\nOther Comprehensive Income (Loss) Before Reclassification\t1196\t(7393)\t0\t(6197)\nIncome Tax Expense (Benefit)\t0\t1848\t0\t1848\nNet Other Comprehensive Income (Loss) Before Reclassifications\t1196\t(5545)\t0\t(4349)\nReclassifications:\t\t\t\t\nRealized (Gains) Losses - Foreign Currency Contracts (1)\t0\t2190\t0\t2190\nRealized (Gains) Losses - Commodity Contracts (1)\t0\t(20)\t0\t(20)\nRealized (Gains) Losses - Interest Rate Swaps (1)\t0\t(320)\t0\t(320)\nAmortization of Prior Service Costs (Credits) (2)\t0\t0\t(137)\t(137)\nAmortization of Actuarial Losses (2)\t0\t0\t3700\t3700\nTotal Reclassifications Before Tax\t0\t1850\t3563\t5413\nIncome Tax Expense (Benefit)\t0\t(462)\t(855)\t(1317)\nNet Reclassifications\t0\t1388\t2708\t4096\nOther Comprehensive Income (Loss)\t1196\t(4157)\t2708\t(253)\nEnding Balance\t(31158)\t(2149)\t(221714)\t(255021)\n", "q10k_tbl_12": "\tNine Months Ended March 29 2020\t\t\t\n\tCumulative Translation Adjustments\tDerivative Financial Instruments\tPension and Postretirement Benefit Plans\tTotal\nBeginning Balance\t(31767)\t(7066)\t(253717)\t(292550)\nOther Comprehensive Income (Loss) Before Reclassification\t(14589)\t(12399)\t(39)\t(27027)\nIncome Tax Expense (Benefit)\t\t2903\t9\t2912\nNet Other Comprehensive Income (Loss) Before Reclassifications\t(14589)\t(9496)\t(30)\t(24115)\nReclassifications:\t\t\t\t\nRealized (Gains) Losses - Foreign Currency Contracts (1)\t0\t(899)\t\t(899)\nRealized (Gains) Losses - Commodity Contracts (1)\t0\t320\t\t320\nRealized (Gains) Losses - Interest Rate Swaps (1)\t0\t384\t\t384\nAmortization of Prior Service Costs (Credits) (2)\t0\t\t58\t58\nAmortization of Actuarial Losses (2)\t0\t\t14216\t14216\nTotal Reclassifications Before Tax\t0\t(195)\t14274\t14079\nIncome Tax Expense (Benefit)\t0\t120\t(3425)\t(3305)\nNet Reclassifications\t0\t(75)\t10849\t10774\nOther Comprehensive Income (Loss)\t(14589)\t(9571)\t10819\t(13341)\nEnding Balance\t(46356)\t(16637)\t(242898)\t(305891)\n", "q10k_tbl_13": "\tNine Months Ended March 31 2019\t\t\t\n\tCumulative Translation Adjustments\tDerivative Financial Instruments\tPension and Postretirement Benefit Plans\tTotal\nBeginning Balance\t(28928)\t6486\t(229830)\t(252272)\nOther Comprehensive Income (Loss) Before Reclassification\t(2230)\t(10201)\t0\t(12431)\nIncome Tax Benefit (Expense)\t0\t2550\t0\t2550\nNet Other Comprehensive Income (Loss) Before Reclassifications\t(2230)\t(7651)\t0\t(9881)\nReclassifications:\t\t\t\t\nRealized (Gains) Losses - Foreign Currency Contracts (1)\t0\t(353)\t0\t(353)\nRealized (Gains) Losses - Commodity Contracts (1)\t0\t(160)\t0\t(160)\nRealized (Gains) Losses - Interest Rate Swaps (1)\t0\t(798)\t0\t(798)\nAmortization of Prior Service Costs (Credits) (2)\t0\t0\t(413)\t(413)\nAmortization of Actuarial Losses (2)\t0\t0\t11099\t11099\nTotal Reclassifications Before Tax\t0\t(1311)\t10686\t9375\nIncome Tax Expense (Benefit)\t0\t327\t(2570)\t(2243)\nNet Reclassifications\t0\t(984)\t8116\t7132\nOther Comprehensive Income (Loss)\t(2230)\t(8635)\t8116\t(2749)\nEnding Balance\t(31158)\t(2149)\t(221714)\t(255021)\n", "q10k_tbl_14": "\tThree Months Ended March 29 2020\t\t\t\n\tEngines\tProducts\tEliminations\tTotal\nCommercial\t58455\t84367\t(14998)\t127824\nResidential\t211164\t145001\t(10454)\t345711\nTotal\t269619\t229368\t(25452)\t473535\n\tThree Months Ended March 31 2019\t\t\t\n\tEngines\tProducts\tEliminations\tTotal\nCommercial\t56898\t110533\t(6464)\t160967\nResidential\t279345\t160676\t(20792)\t419229\nTotal\t336243\t271209\t(27256)\t580196\n", "q10k_tbl_15": "\tNine Months Ended March 29 2020\t\t\t\n\tEngines\tProducts\tEliminations\tTotal\nCommercial\t147734\t260275\t(29666)\t378343\nResidential\t474429\t406718\t(34295)\t846852\nTotal\t622163\t666993\t(63961)\t1225195\n\tNine Months Ended March 31 2019\t\t\t\n\tEngines\tProducts\tEliminations\tTotal\nCommercial\t151103\t281882\t(15390)\t417595\nResidential\t576248\t416997\t(46185)\t947060\nTotal\t727351\t698879\t(61575)\t1364655\n", "q10k_tbl_16": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nNet Income (Loss)\t(144606)\t8005\t(193587)\t(35543)\nLess: Allocation to Participating Securities\t0\t(196)\t(127)\t(455)\nNet Income (Loss) Available to Common Shareholders\t(144606)\t7809\t(193714)\t(35998)\nAverage Shares of Common Stock Outstanding\t41726\t41527\t41685\t41691\nShares Used in Calculating Diluted Earnings (Loss) Per Share\t41726\t41527\t41685\t41691\nBasic Earnings (Loss) Per Share\t(3.47)\t0.19\t(4.65)\t(0.86)\nDiluted Earnings (Loss) Per Share\t(3.47)\t0.19\t(4.65)\t(0.86)\n", "q10k_tbl_17": "\tPension Benefits\t\t\tOther Postretirement Benefits\n\tThree Months Ended\t\t\tThree Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nComponents of Net Periodic (Income) Expense:\t\t\t\t\nService Cost (Credit)\t1213\t1157\t21\t26\nInterest Cost on Projected Benefit Obligation\t8660\t9930\t451\t583\nExpected Return on Plan Assets\t(12820)\t(13582)\t0\t0\nAmortization of:\t\t\t\t\nPrior Service Cost (Credit)\t19\t45\t0\t(182)\nActuarial Loss\t3987\t2910\t752\t790\nNet Periodic Expense\t1059\t460\t1224\t1217\n", "q10k_tbl_18": "\tPension Benefits\t\t\tOther Postretirement Benefits\n\tNine Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nComponents of Net Periodic (Income) Expense:\t\t\t\t\nService Cost (Credit)\t3660\t3427\t62\t79\nInterest Cost on Projected Benefit Obligation\t25979\t29790\t1354\t1749\nExpected Return on Plan Assets\t(38461)\t(40745)\t0\t0\nAmortization of:\t\t\t\t\nPrior Service Cost (Credit)\t58\t134\t0\t(547)\nActuarial Loss\t11961\t8729\t2255\t2370\nNet Periodic Expense\t3197\t1335\t3671\t3651\n", "q10k_tbl_19": "Contract\t\t\tNotional Amount\n\t\tMarch 29 2020\tJune 30 2019\nInterest Rate:\t\t\t\nLIBOR Interest Rate (U.S. Dollars)\tFixed\t230000\t230000\nForeign Currency:\t\t\t\nAustralian Dollar\tSell\t6871\t17611\nBrazilian Real\tSell\t0\t13436\nCanadian Dollar\tSell\t15675\t14610\nChinese Renminbi\tBuy\t81650\t70555\nEuro\tSell\t6540\t2750\nCommodity:\t\t\t\nNatural Gas (Therms)\tBuy\t3462\t7627\n", "q10k_tbl_20": "Balance Sheet Location\tAsset (Liability) Fair Value\t\n\tMarch 29 2020\tJune 30 2019\nInterest rate contracts\t\t\nOther Long-Term Assets\t0\t876\nOther Long-Term Liabilities\t(24007)\t(11634)\nForeign currency contracts\t\t\nOther Current Assets\t1268\t672\nOther Long-Term Assets\t2\t16\nAccrued Liabilities\t(99)\t(179)\nOther Long-Term Liabilities\t(12)\t(11)\nCommodity contracts\t\t\nOther Current Assets\t5\t0\nAccrued Liabilities\t(131)\t(176)\nOther Long-Term Liabilities\t(1)\t(15)\n\t(22975)\t(10451)\n", "q10k_tbl_21": "\tThree Months Ended March 29 2020\t\t\t\n\tAmount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives Net of Taxes (Effective Portion)\tClassification of Gain (Loss)\tAmount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)\tRecognized in Earnings (Ineffective Portion)\nInterest rate contracts\t(1857)\tNet Sales\t(104)\t0\nForeign currency contracts - sell\t(443)\tNet Sales\t488\t0\nForeign currency contracts - buy\t(48)\tCost of Goods Sold\t(42)\t0\nCommodity contracts\t50\tCost of Goods Sold\t(175)\t0\nInterest rate contracts\t(5885)\tInterest Expense\t0\t0\n\t(8183)\t\t167\t0\n", "q10k_tbl_22": "\tThree Months Ended March 31 2019\t\t\t\n\tAmount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives Net of Taxes (Effective Portion)\tClassification of Gain (Loss)\tAmount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)\tRecognized in Earnings (Ineffective Portion)\nInterest rate contracts\t(1125)\tNet Sales\t320\t0\nForeign currency contracts - sell\t(409)\tNet Sales\t(2674)\t0\nForeign currency contracts - buy\t2036\tCost of Goods Sold\t484\t0\nCommodity contracts\t47\tCost of Goods Sold\t20\t0\nInterest rate contracts\t(4706)\tInterest Expense\t0\t0\n\t(4157)\t\t(1850)\t0\n", "q10k_tbl_23": "\tNine Months Ended March 29 2020\t\t\t\n\tAmount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives Net of Taxes (Effective Portion)\tClassification of Gain (Loss)\tAmount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)\tRecognized in Earnings (Ineffective Portion)\nInterest rate contracts\t(2165)\tNet Sales\t(384)\t0\nForeign currency contracts - sell\t(671)\tNet Sales\t1055\t0\nForeign currency contracts - buy\t(74)\tCost of Goods Sold\t(156)\t0\nCommodity contracts\t48\tCost of Goods Sold\t(320)\t0\nInterest rate contracts\t(6709)\tInterest Expense\t0\t0\n\t(9571)\t\t195\t0\n", "q10k_tbl_24": "\tNine Months Ended March 31 2019\t\t\t\n\tAmount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives Net of Taxes (Effective Portion)\tClassification of Gain (Loss)\tAmount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)\tRecognized in Earnings (Ineffective Portion)\nInterest rate contracts\t(1944)\tNet Sales\t798\t0\nForeign currency contracts - sell\t(1384)\tNet Sales\t(37)\t0\nForeign currency contracts - buy\t(632)\tCost of Goods Sold\t390\t0\nCommodity contracts\t29\tCost of Goods Sold\t160\t0\nInterest rate contracts\t(4706)\tInterest Expense\t0\t0\n\t(8637)\t\t1311\t0\n", "q10k_tbl_25": "\t\tFair Value Measurements Using\t\t\n\tMarch 29 2020\tLevel 1\tLevel 2\tLevel 3\nAssets:\t\t\t\t\nDerivatives\t1275\t0\t1275\t0\nLiabilities:\t\t\t\t\nDerivatives\t24250\t0\t24250\t0\n\tJune 30 2019\tLevel 1\tLevel 2\tLevel 3\nAssets:\t\t\t\t\nDerivatives\t1564\t0\t1564\t0\nLiabilities:\t\t\t\t\nDerivatives\t12014\t0\t12014\t0\n", "q10k_tbl_26": "\tNine Months Ended\t\n\tMarch 29 2020\tMarch 31 2019\nBeginning Balance\t47602\t45327\nPayments\t(20416)\t(18169)\nProvision for Current Year Warranties\t16238\t17964\nChanges in Estimates\t(185)\t232\nEnding Balance\t43239\t45354\n", "q10k_tbl_27": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nNET SALES:\t\t\t\t\nEngines\t269619\t336243\t622163\t727351\nProducts\t229368\t271209\t666993\t698879\nInter-Segment Eliminations\t(25452)\t(27256)\t(63961)\t(61575)\nTotal*\t473535\t580196\t1225195\t1364655\n* International sales included in net sales based on product shipment destination\t138771\t142817\t385406\t379468\nGROSS PROFIT:\t\t\t\t\nEngines\t45418\t72529\t97753\t144272\nProducts\t17789\t24348\t77786\t89402\nInter-Segment Eliminations\t257\t110\t(804)\t(441)\nTotal\t63464\t96987\t174735\t233233\nSEGMENT INCOME (LOSS):\t\t\t\t\nEngines\t(59161)\t22833\t(101312)\t(16579)\nProducts\t(22755)\t(5682)\t(23924)\t(11514)\nInter-Segment Eliminations\t257\t110\t(804)\t(441)\nTotal\t(81659)\t17261\t(126040)\t(28534)\n", "q10k_tbl_28": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nEngines\t6184\t623\t18359\t1712\nProducts\t2189\t3267\t3279\t6978\nTotal\t8373\t3890\t21638\t8690\n", "q10k_tbl_29": "\tThree Months Ended\t\t\tNine Months Ended\n\tMarch 29 2020\tMarch 31 2019\tMarch 29 2020\tMarch 31 2019\nEngines\t65872\t5211\t80309\t27083\nProducts\t14511\t4694\t16075\t19862\nTotal\t80383\t9905\t96384\t46945\n", "q10k_tbl_30": "\tOperating Lease Commitments\n2020\t13289\n2021\t11830\n2022\t11578\n2023\t11595\n2024\t11526\nThereafter\t76211\nTotal Lease Payments\t136029\nLess: Interest\t34252\nTotal Lease Liabilities\t101777\n", "q10k_tbl_31": "2020\t20453\n2021\t18179\n2022\t14784\n2023\t10345\n2024\t9515\nThereafter\t73639\nTotal Lease Payments\t146915\n", "q10k_tbl_32": "\tMarch 29 2020\nOperating Leases:\t\nRight of Use Assets\t103924\nShort-Term Lease Obligations\t11710\nLong-Term Lease Obligations\t90067\nTotal Operating Lease Obligations\t101777\n", "q10k_tbl_33": "\tMarch 29 2020\tJune 30 2019\nMulticurrency Credit Agreement\t0\t160540\nABL Facility\t402224\t0\n6.875% Senior Notes\t195464\t0\nUnamortized Debt Issuance Costs associated with 6.875% Senior Notes\t215\t0\nTotal Short-Term Debt\t597473\t160540\nNote Payable (NMTC transaction)\t7685\t7685\nUnamortized Debt Issuance Costs associated with Note Payable\t710\t820\n\t6975\t6865\n6.875% Senior Notes\t0\t195464\nUnamortized Debt Issuance Costs associated with 6.875% Senior Notes\t0\t495\n\t0\t194969\nTotal Long-Term Debt\t6975\t201834\n", "q10k_tbl_34": "\tEngines\tProducts\tTotal\nGoodwill Balance June 30 2019\t137095\t32587\t169682\nImpairment Loss\t(55463)\t(12017)\t(67480)\nEffect of Translation\t(950)\t(892)\t(1842)\nGoodwill Balance at March 29 2020\t80682\t19678\t100360\n", "q10k_tbl_35": "\tThree Months Ended Fiscal March\t\t\t\t\t\n\t2020 Reported\tAdjustments(1)\t2020 Adjusted(3)\t2019 Reported\tAdjustments(2)\t2019 Adjusted(3)\nGross Profit:\t\t\t\t\t\t\nEngines\t45418\t6184\t51602\t72529\t623\t73152\nProducts\t17789\t2189\t19978\t24348\t3267\t27615\nInter-Segment Eliminations\t257\t0\t257\t110\t0\t110\nTotal\t63464\t8373\t71837\t96987\t3890\t100877\nEngineering Selling General and Administrative Expenses:\t\t\t\t\t\t\nEngines\t45983\t907\t45076\t49287\t3835\t45452\nProducts\t28914\t305\t28609\t30234\t1428\t28806\nTotal\t74897\t1212\t73685\t79521\t5263\t74258\nGoodwill Impairment\t\t\t\t\t\t\nEngines\t55463\t55463\t0\t0\t0\t0\nProducts\t12017\t12017\t0\t0\t0\t0\nTotal\t67480\t67480\t0\t0\t0\t0\nEquity in Earnings of Unconsolidated Affiliates\t\t\t\t\t\t\nEngines\t(3133)\t3318\t185\t(408)\t753\t345\nProducts\t387\t0\t387\t203\t0\t203\nTotal\t(2746)\t3318\t572\t(205)\t753\t548\nSegment Income (Loss):\t\t\t\t\t\t\nEngines\t(59161)\t65872\t6711\t22833\t5211\t28044\nProducts\t(22755)\t14511\t(8244)\t(5682)\t4694\t(988)\nInter-Segment Eliminations\t257\t0\t257\t110\t0\t110\nTotal\t(81659)\t80383\t(1276)\t17261\t9905\t27166\nInterest Expense\t(9521)\t0\t(9521)\t(9088)\t15\t(9073)\nOther Income (Expense)\t(1773)\t20\t(1753)\t953\t0\t953\nIncome Before Income Taxes\t(92953)\t80403\t(12550)\t9126\t9920\t19046\nProvision for Income Taxes\t51653\t(53360)\t(1707)\t1121\t3288\t4409\nNet Income (Loss)\t(144606)\t133763\t(10843)\t8005\t6632\t14637\nEarnings Per Share\t\t\t\t\t\t\nBasic\t(3.47)\t3.21\t(0.26)\t0.19\t0.15\t0.34\nDiluted\t(3.47)\t3.21\t(0.26)\t0.19\t0.15\t0.34\n", "q10k_tbl_36": "\tNine Months Ended Fiscal March\t\t\t\t\t\n\t2020 Reported\tAdjustments(1)\t2020 Adjusted(3)\t2019 Reported\tAdjustments(2)\t2019 Adjusted(3)\nGross Profit:\t\t\t\t\t\t\nEngines\t97753\t18359\t116112\t144272\t1712\t145984\nProducts\t77786\t3279\t81065\t89402\t6978\t96380\nInter-Segment Eliminations\t(804)\t0\t(804)\t(441)\t0\t(441)\nTotal\t174735\t21638\t196373\t233233\t8690\t241923\nEngineering Selling General and Administrative Expenses:\t\t\t\t\t\t\nEngines\t141498\t2648\t138850\t163997\t22754\t141243\nProducts\t91260\t779\t90481\t103556\t12884\t90672\nTotal\t232758\t3427\t229331\t267552\t35638\t231914\nGoodwill Impairment\t\t\t\t\t\t\nEngines\t55463\t55463\t0\t0\t0\t0\nProducts\t12017\t12017\t0\t0\t0\t0\nTotal\t67480\t67480\t0\t0\t0\t0\nEquity in Earnings of Unconsolidated Affiliates\t\t\t\t\t\t\nEngines\t(2104)\t3839\t1735\t3146\t2617\t5763\nProducts\t1567\t0\t1567\t2640\t0\t2640\nTotal\t(537)\t3839\t3302\t5786\t2617\t8403\nSegment Income (Loss):\t\t\t\t\t\t\nEngines\t(101312)\t80309\t(21003)\t(16579)\t27083\t10504\nProducts\t(23924)\t16075\t(7849)\t(11513)\t19862\t8349\nInter-Segment Eliminations\t(804)\t0\t(804)\t(441)\t0\t(441)\nTotal\t(126040)\t96384\t(29656)\t(28533)\t46945\t18412\nInterest Expense\t(25390)\t0\t(25390)\t(21731)\t263\t(21468)\nOther Income (Expense)\t(2904)\t20\t(2884)\t391\t0\t391\nIncome (Loss) Before Income Taxes\t(154334)\t96404\t(57930)\t(49874)\t47208\t(2666)\nProvision (Credit) for Income Taxes\t39253\t(50581)\t(11328)\t(14331)\t9602\t(4729)\nNet Income (Loss)\t(193587)\t146985\t(46602)\t(35543)\t37606\t2063\nEarnings (Loss) Per Share\t\t\t\t\t\t\nBasic\t(4.65)\t3.53\t(1.12)\t(0.86)\t0.90\t0.04\nDiluted\t(4.65)\t3.53\t(1.12)\t(0.86)\t0.90\t0.04\n", "q10k_tbl_37": "2020 Fiscal Month\tTotal Number of Shares Purchased\tAverage Price Paid per Share\tTotal Number of Shares Purchased as Part of a Publicly Announced Program (a)(b)\tApproximate Dollar Value of Shares that May Yet Be Purchased Under the Program (a)(b)\nDecember 30 2019 to January 26 2020\t0\t0\t0\t38062939\nJanuary 27 2020 to February 23 2020\t0\t0\t0\t38062939\nFebruary 24 2020 to March 29 2020\t0\t0\t0\t38062939\nTotal Third Quarter\t0\t0\t0\t38062939\n", "q10k_tbl_38": "Exhibit Number\tDescription\n10.1\tAmendment No. 1 to Revolving Credit Agreement dated as of November 15 2019 among Briggs & Stratton Corporation Briggs & Stratton AG the lenders party thereto and JPMorgan Chase Bank N.A. as administrative agent\n10.2\tAmendment No. 2 to Revolving Credit Agreement dated as of January 29 2020 among Briggs & Stratton Corporation Briggs & Stratton AG the lenders party thereto and JPMorgan Chase Bank N.A. as administrative agent. (Filed as exhibit 10.1 to the Company's Report on Form 8-K dated January 30 2020 and incorporated by reference herein)\n10.3\tAmendment No. 3 to Revolving Credit Agreement dated as of April 21 2020 among Briggs & Stratton Corporation Briggs & Stratton AG the lenders party thereto and JPMorgan Chase Bank N.A. as administrative agent. (Filed as exhibit 10.1 to the Company's Report on Form 8-K dated May 1 2020 and incorporated by reference herein)\n10.4\tAmendment No. 4 to Revolving Credit Agreement dated as of April 27 2020 among Briggs & Stratton Corporation Briggs & Stratton AG the lenders party thereto and JPMorgan Chase Bank N.A. as administrative agent. (Filed as exhibit 10.1 to the Company's Report on Form 8-K dated May 1 2020 and incorporated by reference herein)\n10.5\tForm of consent from officers of the Company related to employment agreements\n31.1\tCertification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herewith)\n31.2\tCertification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herewith)\n32.1\tCertification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Furnished herewith)\n32.2\tCertification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Furnished herewith)\n101.INS\tInline XBRL Instance Document (The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.)\n101.SCH\tInline XBRL Taxonomy Extension Schema Document\n101.CAL\tInline XBRL Taxonomy Extension Calculation Linkbase Document\n101.DEF\tInline XBRL Taxonomy Extension Definition Linkbase Document\n101.LAB\tInline XBRL Taxonomy Extension Label Linkbase Document\n101.PRE\tInline XBRL Taxonomy Extension Presentation Linkbase Document\n104\tCover Page Inline XBRL data (contained in Exhibit 101)\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_35", "cf": "q10k_tbl_9"}None
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 $0.01 per share)
BGG
New York Stock Exchange
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. Yesx 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesx 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
x
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 x
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.