| Restructuring, Exit, and Impairment Activities During the three and six months ended July 4, 2026, and June 28, 2025, the Company recorded restructuring charges related to headcount reductions and related costs associated with streamlining the enterprise-wide cost structure and improving operating efficiencies. The Company also incurred charges related to the rationalization of its manufacturing footprint, including the decision in the third quarter of 2025 to rationalize our fiberglass boat manufacturing footprint and exit our facilities in Reynosa, Mexico and Flagler Beach, Florida and consolidate production from those facilities into existing U.S. facilities.
The following table is a summary of these expenses for the three months ended July 4, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Propulsion | | Engine P&A | | Navico Group | | Boat | | Corporate | | Total | | Restructuring, exit, and impairment activities: | | | | | | | | | | | | | Employee termination and other benefits | $ | — | | | $ | — | | | $ | — | | | $ | 1.4 | | | $ | 2.5 | | | $ | 3.9 | | | Asset-related | — | | | — | | | — | | | 1.9 | | | — | | | 1.9 | | | Professional and other third-party fees | — | | | — | | | — | | | 0.9 | | | 0.3 | | | 1.2 | | | Total restructuring, exit, and impairment charges | $ | — | | | $ | — | | | $ | — | | | $ | 4.2 | | | $ | 2.8 | | | $ | 7.0 | | | | | | | | | | | | | | | Total cash payments for restructuring, exit and impairment charges | $ | — | | | $ | — | | | $ | 1.0 | | | $ | 2.8 | | | $ | 0.2 | | | $ | 4.0 | | | Accrued charges at end of the period | $ | 0.5 | | | $ | 0.1 | | | $ | 0.7 | | | $ | 8.9 | | | $ | 2.8 | | | $ | 13.0 | |
The following table is a summary of these expenses for the three months ended June 28, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Propulsion | | Engine P&A | | Navico Group | | Boat | | Corporate | | Total | | | | | | | | | | Restructuring, exit, and impairment activities: | | | | | | | | | | | | | | | | | | | | | Employee termination and other benefits | $ | 1.2 | | | $ | 0.4 | | | $ | 4.3 | | | $ | 1.0 | | | $ | 0.3 | | | $ | 7.2 | | | | | | | | | | | Asset-related | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | | | | | | | | | | | Professional and other third-party fees | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | | | | | | | | | | | Total restructuring, exit, and impairment charges | $ | 1.2 | | | $ | 0.4 | | | $ | 5.1 | | | $ | 1.0 | | | $ | 0.3 | | | $ | 8.0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total cash payments for restructuring, exit and impairment charges | $ | 0.7 | | | $ | 0.4 | | | $ | 1.8 | | | $ | 1.2 | | | $ | 0.1 | | | $ | 4.2 | | | | | | | | | | | Accrued charges at end of the period | $ | 0.8 | | | $ | 0.2 | | | $ | 3.6 | | | $ | 0.9 | | | $ | 0.3 | | | $ | 5.8 | | | | | | | | | |
The following table is a summary of these expenses for the six months ended July 4, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Propulsion | | Engine P&A | | Navico Group | | Boat | | Corporate | | Total | | Restructuring, exit, and impairment activities: | | | | | | | | | | | | | Employee termination and other benefits | $ | — | | | $ | — | | | $ | 0.2 | | | $ | 2.9 | | | $ | 2.5 | | | $ | 5.6 | | | Asset-related | — | | | — | | | — | | | 3.9 | | | — | | | 3.9 | | | Professional and other third-party fees | — | | | — | | | — | | | 2.0 | | | 0.3 | | | 2.3 | | | Total restructuring, exit, and impairment charges | $ | — | | | $ | — | | | $ | 0.2 | | | $ | 8.8 | | | $ | 2.8 | | | $ | 11.8 | | | | | | | | | | | | | | | Total cash payments for restructuring, exit and impairment charges | $ | — | | | $ | — | | | $ | 2.4 | | | $ | 6.5 | | | $ | 0.3 | | | $ | 9.2 | | | Accrued charges at end of the period | $ | 0.5 | | | $ | 0.1 | | | $ | 0.7 | | | $ | 8.9 | | | $ | 2.8 | | | $ | 13.0 | |
The following table is a summary of these expenses for the six months ended June 28, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Propulsion | | Engine P&A | | Navico Group | | Boat | | Corporate | | Total | | Restructuring, exit, and impairment activities: | | | | | | | | | | | | | Employee termination and other benefits | $ | 1.2 | | | $ | 0.4 | | | $ | 5.1 | | | $ | 1.3 | | | $ | 0.3 | | | $ | 8.3 | | | Asset-related | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | | | Professional and other third-party fees | — | | | — | | | 0.4 | | | — | | | — | | | 0.4 | | | Total restructuring, exit, and impairment charges | $ | 1.2 | | | $ | 0.4 | | | $ | 5.9 | | | $ | 1.3 | | | $ | 0.3 | | | $ | 9.1 | | | | | | | | | | | | | | | Total cash payments for restructuring, exit and impairment charges | $ | 1.8 | | | $ | 0.9 | | | $ | 3.4 | | | $ | 2.4 | | | $ | 0.9 | | | $ | 9.4 | | | Accrued charges at end of the period | $ | 0.8 | | | $ | 0.2 | | | $ | 3.6 | | | $ | 0.9 | | | $ | 0.3 | | | $ | 5.8 | |
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