Annual report pursuant to Section 13 and 15(d)

Restructuring, Exit, Impairment and Integration Activities (Tables)

v3.24.0.1
Restructuring, Exit, Impairment and Integration Activities (Tables)
 12 Months Ended
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]  
Summary of the Expense Associated with Restructuring, Exit, Impairment and Integration Activities
(in millions) Propulsion Engine P&A
Navico Group (A)
Boat
Corporate (B)
Total
Restructuring, exit and impairment activities:    
Employee termination and other benefits $ 2.7  $ 3.3  $ 11.6  $ 10.5  $ 2.8  $ 30.9 
Asset-related —  —  18.9  —  —  18.9 
Professional fees —  —  —  —  4.9  4.9 
Total 2023 restructuring, exit and impairment charges $ 2.7  $ 3.3  $ 30.5  $ 10.5  $ 7.7  $ 54.7 
Employee termination and other benefits $ —  $ —  $ 7.7  $ —  $ —  $ 7.7 
Asset-related —  —  —  —  17.4  17.4 
Total 2022 restructuring, exit and impairment charges $ —  $ —  $ 7.7  $ —  $ 17.4  $ 25.1 
Employee termination and other benefits $ —  $ —  $ 0.7  $ 0.1  $ —  $ 0.8 
Total 2021 restructuring, exit and impairment charges $ —  $ —  $ 0.7  $ 0.1  $ —  $ 0.8 

(A) Includes impairment charges of $13.0 million associated with an impairment of the Navico trade name and $3.0 million associated with the Company's decision to no longer go to market under the Garelick trade name during the year ended December 31, 2023.
(B) Includes impairment charges of $17.4 million related to the Company's decision not to place certain capitalized software intangible assets into service during the year ended December 31, 2022.
Schedule of Restructuring Reserve by Segment [Table Text Block]
The following tables summarize the change in accrued restructuring, exit and impairment charges within Accrued expenses in the Consolidated Balance Sheets for the years ended December 31, 2023, 2022 and 2021:
(in millions) Propulsion Engine P&A Navico Group Boat Corporate Total
Accrued Charges as of December 31, 2020 $ —  $ —  $ 0.3  $ 1.2  $ 1.7  $ 3.2 
Total Charges —  $ —  0.7  0.1  —  0.8 
Payments (A)
—  —  (1.0) (1.1) (1.7) $ (3.8)
Accrued Charges as of December 31, 2021 $ —  $ —  $ —  $ 0.2  $ —  $ 0.2 
Total Charges —  —  7.7  —  17.4  25.1 
Non-Cash Charges —  —  —  —  (17.4) $ (17.4)
Payments (A)
—  —  (3.6) (0.2) —  $ (3.8)
Accrued Charges as of December 31, 2022 $ —  $ —  $ 4.1  $ —  $ —  $ 4.1 
Total Charges 2.7  3.3  30.5  10.5  7.7  54.7 
Non-Cash Charges —  —  (18.9) 1.2  —  (17.7)
Payments (A)
(1.5) (2.6) (10.6) (10.0) (7.1) $ (31.8)
Accrued Charges as of December 31, 2023 (B)
$ 1.2  $ 0.7  $ 5.1  $ 1.7  $ 0.6  $ 9.3 

(A) Cash payments may include payments related to prior period charges.
(B) The accrued charges as of December 31, 2023 are expected to be paid in the next twelve months.