Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Comprehensive Income

v3.10.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Comprehensive Income (Loss) [Abstract]      
Net Earnings $ 265.3 $ 146.4 [1],[2],[3],[4],[5] $ 276.0
Foreign Currency Translation [Abstract]      
Foreign Currency Translation Adjustments [6] (17.3) 20.3 4.5
Net Foreign Currency Translation (17.3) 20.3 4.5
Defined Benefit Plans [Abstract]      
Net Actuarial Losses [6] (3.3) (8.1) (10.2)
Amortization of Prior Service Credits [7] (0.5) (0.5) (0.4)
Amortization of Net Actuarial Losses [7] 7.9 69.3 45.3
Net Defined Benefit Plans 4.1 60.7 34.7
Derivatives [Abstract]      
Net Deferred Gains (Losses) on Derivatives [6] 7.3 (7.5) 2.1
Reclassification to Earnings [7] 2.6 1.3 (1.8)
Net Deferred Gains (Losses) on Derivatives 9.9 (6.2) 0.3
Other Comprehensive Income (3.3) 74.8 39.5
Comprehensive Income 262.0 221.2 315.5
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent [Abstract]      
Foreign Currency Translation Adjustments, Tax Effect 1.5 (4.1) (7.9)
Net Actuarial Gains (Losses), Tax Effect 1.2 5.4 5.4
Gains (Losses) on Derivatives, Tax Effect $ (3.3) $ 3.4 $ (0.8)
[1] (A) In the second quarter of 2018, the Company announced its intention to wind down Sport Yacht & Yacht operations. During the first, second, third and fourth quarters and the full-year of 2018, Sport Yacht & Yacht operations had operating losses of $8.1 million, $27.4 million, $11.9 million, $11.0 million and $58.4 million, respectively, consisting of $15.1 million, $19.9 million, $9.0 million, $5.4 million and $49.4 million, respectively, of Net sales; $18.7 million, $43.1 million, $17.3 million, $10.0 million, $89.1 million of Cost of sales (COS); and $4.5 million, $4.2 million, $3.6 million, $6.4 million and $18.7 million, respectively, of Selling, general and administrative expense (SG&A). During the first, second, third and fourth quarters and the full-year of 2017, Sport Yacht & Yacht operations had operating losses of $8.0 million, $3.4 million, $9.8 million, $10.7 million and $31.9 million, respectively, consisting of $38.9 million, $53.1 million, $21.3 million, $38.3 million and $151.6 million, respectively, of Net sales; $41.0 million, $52.5 million, $26.3 million, $44.2 million, $164.0 million of Cost of sales (COS); and $5.9 million, $4.0 million, $4.8 million, $4.8 million and $19.5 million, respectively, of Selling, general and administrative expense (SG&A).
[2] (D) During the second, third and fourth quarters and the full-year of 2018, the Company's Fitness segment recorded $1.6 million, $3.8 million, $6.4 million and $11.8 million of unusual charges. The charges in the second quarter consisted of $1.6 million within COS for a product field campaign. The charges in the third quarter consisted of $3.8 million within SG&A related to a contract dispute. The charges in the fourth quarter consisted of $3.1 million within COS related to the settlement of supplier obligations, $2.8 million within SG&A associated with the delayed submission of foreign import duty filings, $0.7 million within COS for a product field campaign and $(0.2) million within SG&A related to the contract dispute. In the fourth quarter of 2017, the Company's Fitness segment recorded $8.4 million and $5.1 million within COS and SG&A, respectively, related to field campaigns pertaining to certain Cybex products designed prior to the acquisition. Refer to Note 14 – Commitments and Contingencies for further details.
[3] (E) Restructuring, exit, integration and impairment charges are discussed in Note 4 – Restructuring, Exit, Integration and Impairment Activities.
[4] (H) Net earnings (loss) includes the tax impacts of the items discussed in the aforementioned footnotes, as well as special tax items. During the first, second, third and fourth quarters and the full-year of 2018, special tax items were a net charge (benefit) of $6.7 million, $(1.0) million, $(10.4) million, $0.6 million and $(4.1) million, respectively. During the first, second, third and fourth quarters and the full-year of 2017, special tax items were a net charge (benefit) of $(0.5) million, $(0.2) million, $(0.7) million, $71.1 million and $69.7 million, respectively.
[5] (I) Pension settlement charges are discussed in Note 18 – Postretirement Benefits.
[6] The tax effects for the year ended December 31, 2018 were $1.5 million for foreign currency translation, $1.2 million for net actuarial losses arising during the period and $(3.3) million for derivatives. The tax effects for the year ended December 31, 2017 were $(4.1) million for foreign currency translation, $5.4 million for net actuarial losses arising during the period and $3.4 million for derivatives. The tax effects for the year ended December 31, 2016 were $(7.9) million for foreign currency translation, $5.4 million for net actuarial losses arising during the period and $(0.8) million for derivatives.
[7] See Note 20 – Comprehensive Income (Loss) for the tax effects for the years ended December 31, 2018, December 31, 2017 and December 31, 2016.