BRUNSWICK CORPBC
BRUNSWICK CORP Revenue Disclosure
Revenue Recognition
The following tables present the Company's revenue in categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors:
| Year Ended December 31, 2025 | |||||||||||||||||||||||||||||
| (in millions) | Propulsion | Engine P&A | Navico Group | Boat | Total | ||||||||||||||||||||||||
| Geographic Markets | |||||||||||||||||||||||||||||
| United States | $ | 1,370.6 | $ | 862.6 | $ | 467.8 | $ | 1,224.2 | $ | 3,925.2 | |||||||||||||||||||
| Europe | 331.5 | 120.2 | 219.1 | 111.1 | 781.9 | ||||||||||||||||||||||||
| Asia-Pacific | 175.3 | 103.0 | 74.0 | 25.3 | 377.6 | ||||||||||||||||||||||||
| Canada | 77.6 | 79.2 | 16.8 | 144.1 | 317.7 | ||||||||||||||||||||||||
| Rest-of-World | 222.2 | 52.5 | 22.7 | 20.5 | 317.9 | ||||||||||||||||||||||||
| Segment Eliminations | (269.1) | (7.4) | (79.9) | (1.1) | (357.5) | ||||||||||||||||||||||||
| Total | $ | 1,908.1 | $ | 1,210.1 | $ | 720.5 | $ | 1,524.1 | $ | 5,362.8 | |||||||||||||||||||
| Major Product Lines | |||||||||||||||||||||||||||||
| Outboard Engines | $ | 1,703.7 | $ | — | $ | — | $ | — | $ | 1,703.7 | |||||||||||||||||||
| Controls, Rigging, and Propellers | 342.8 | — | — | — | 342.8 | ||||||||||||||||||||||||
| Sterndrive Engines | 130.7 | — | — | — | 130.7 | ||||||||||||||||||||||||
| Distribution | — | 717.0 | — | — | 717.0 | ||||||||||||||||||||||||
| Products | — | 500.5 | — | — | 500.5 | ||||||||||||||||||||||||
| Electronic Solutions | — | — | 398.1 | — | 398.1 | ||||||||||||||||||||||||
| Power Solutions | — | — | 276.7 | — | 276.7 | ||||||||||||||||||||||||
| Performance Solutions | — | — | 125.6 | — | 125.6 | ||||||||||||||||||||||||
| Aluminum Freshwater Boats | — | — | — | 575.7 | 575.7 | ||||||||||||||||||||||||
| Recreational Fiberglass Boats | — | — | — | 456.3 | 456.3 | ||||||||||||||||||||||||
| Saltwater Fishing Boats | — | — | — | 333.2 | 333.2 | ||||||||||||||||||||||||
| Business Acceleration | — | — | — | 208.9 | 208.9 | ||||||||||||||||||||||||
| Boat Eliminations/Other | — | — | — | (48.9) | (48.9) | ||||||||||||||||||||||||
| Segment Eliminations | (269.1) | (7.4) | (79.9) | (1.1) | (357.5) | ||||||||||||||||||||||||
| Total | $ | 1,908.1 | $ | 1,210.1 | $ | 720.5 | $ | 1,524.1 | $ | 5,362.8 | |||||||||||||||||||
| Year Ended December 31, 2024 | |||||||||||||||||||||||||||||
| (in millions) | Propulsion | Engine P&A | Navico Group | Boat | Total | ||||||||||||||||||||||||
| Geographic Markets | |||||||||||||||||||||||||||||
| United States | $ | 1,328.1 | $ | 812.1 | $ | 474.1 | $ | 1,247.3 | $ | 3,861.6 | |||||||||||||||||||
| Europe | 313.5 | 115.3 | 216.9 | 112.9 | 758.6 | ||||||||||||||||||||||||
| Asia-Pacific | 163.7 | 100.6 | 72.8 | 23.7 | 360.8 | ||||||||||||||||||||||||
| Canada | 64.0 | 78.8 | 14.1 | 136.8 | 293.7 | ||||||||||||||||||||||||
| Rest-of-World | 204.9 | 54.0 | 22.3 | 32.8 | 314.0 | ||||||||||||||||||||||||
| Segment Eliminations | (265.2) | (6.3) | (80.1) | — | (351.6) | ||||||||||||||||||||||||
| Total | $ | 1,809.0 | $ | 1,154.5 | $ | 720.1 | $ | 1,553.5 | $ | 5,237.1 | |||||||||||||||||||
| Major Product Lines | |||||||||||||||||||||||||||||
| Outboard Engines | $ | 1,600.5 | $ | — | $ | — | $ | — | $ | 1,600.5 | |||||||||||||||||||
| Controls, Rigging, and Propellers | 343.9 | — | — | — | 343.9 | ||||||||||||||||||||||||
| Sterndrive Engines | 129.8 | — | — | — | 129.8 | ||||||||||||||||||||||||
| Distribution | — | 657.1 | — | — | 657.1 | ||||||||||||||||||||||||
| Products | — | 503.7 | — | — | 503.7 | ||||||||||||||||||||||||
| Electronic Solutions | — | — | 370.9 | — | 370.9 | ||||||||||||||||||||||||
| Power Solutions | — | — | 298.2 | — | 298.2 | ||||||||||||||||||||||||
| Performance Solutions | — | — | 131.1 | — | 131.1 | ||||||||||||||||||||||||
| Aluminum Freshwater Boats | — | — | — | 551.2 | 551.2 | ||||||||||||||||||||||||
| Recreational Fiberglass Boats | — | — | — | 439.7 | 439.7 | ||||||||||||||||||||||||
| Saltwater Fishing Boats | — | — | — | 395.7 | 395.7 | ||||||||||||||||||||||||
| Business Acceleration | — | — | — | 199.2 | 199.2 | ||||||||||||||||||||||||
| Boat Eliminations/Other | — | — | — | (32.3) | (32.3) | ||||||||||||||||||||||||
| Segment Eliminations | (265.2) | (6.3) | (80.1) | — | (351.6) | ||||||||||||||||||||||||
| Total | $ | 1,809.0 | $ | 1,154.5 | $ | 720.1 | $ | 1,553.5 | $ | 5,237.1 | |||||||||||||||||||
| Year Ended December 31, 2023 | |||||||||||||||||||||||||||||
| (in millions) | Propulsion | Engine P&A | Navico Group | Boat | Total | ||||||||||||||||||||||||
| Geographic Markets | |||||||||||||||||||||||||||||
| United States | $ | 1,881.7 | $ | 852.6 | $ | 573.0 | $ | 1,548.8 | $ | 4,856.1 | |||||||||||||||||||
| Europe | 367.0 | 108.7 | 221.2 | 162.9 | 859.8 | ||||||||||||||||||||||||
| Asia-Pacific | 201.7 | 103.2 | 79.6 | 32.0 | 416.5 | ||||||||||||||||||||||||
| Canada | 93.1 | 83.2 | 19.4 | 206.8 | 402.5 | ||||||||||||||||||||||||
| Rest-of-World | 220.3 | 52.1 | 21.5 | 38.9 | 332.8 | ||||||||||||||||||||||||
| Segment Eliminations | (357.3) | (7.1) | (101.2) | (0.7) | (466.3) | ||||||||||||||||||||||||
| Total | $ | 2,406.5 | $ | 1,192.7 | $ | 813.5 | $ | 1,988.7 | $ | 6,401.4 | |||||||||||||||||||
| Major Product Lines | |||||||||||||||||||||||||||||
| Outboard Engines | $ | 2,198.9 | $ | — | $ | — | $ | — | $ | 2,198.9 | |||||||||||||||||||
| Controls, Rigging, and Propellers | 391.6 | — | — | — | 391.6 | ||||||||||||||||||||||||
| Sterndrive Engines | 173.3 | — | — | — | 173.3 | ||||||||||||||||||||||||
| Distribution | — | 691.8 | — | — | 691.8 | ||||||||||||||||||||||||
| Products | — | 508.0 | — | — | 508.0 | ||||||||||||||||||||||||
| Electronic Solutions | — | — | 421.0 | — | 421.0 | ||||||||||||||||||||||||
| Power Solutions | — | — | 326.5 | — | 326.5 | ||||||||||||||||||||||||
| Performance Solutions | — | — | 167.2 | — | 167.2 | ||||||||||||||||||||||||
| Aluminum Freshwater Boats | — | — | — | 726.0 | 726.0 | ||||||||||||||||||||||||
| Recreational Fiberglass Boats | — | — | — | 643.0 | 643.0 | ||||||||||||||||||||||||
| Saltwater Fishing Boats | — | — | — | 472.8 | 472.8 | ||||||||||||||||||||||||
| Business Acceleration | — | — | — | 167.6 | 167.6 | ||||||||||||||||||||||||
| Boat Eliminations/Other | — | — | — | (20.0) | (20.0) | ||||||||||||||||||||||||
| Segment Eliminations | (357.3) | (7.1) | (101.2) | (0.7) | (466.3) | ||||||||||||||||||||||||
| Total | $ | 2,406.5 | $ | 1,192.7 | $ | 813.5 | $ | 1,988.7 | $ | 6,401.4 | |||||||||||||||||||
During 2025, Navico group realigned its business unit structure to align product portfolios and management structure. During the third quarter of 2025, the Company changed the presentation of major product lines for the Navico Group segment to disaggregate the previous Navico Group product line into Electronic Solutions, Power Solutions, and Performance Solutions to conform to Navico Group's new organizational structure. Prior period amounts have been reclassified to conform to the current period presentation.
As of January 1, 2025, $191.2 million of contract liabilities associated with extended warranties, deferred revenue and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $64.5 million of this amount was recognized as revenue during year ended December 31, 2025. As of December 31, 2025, total contract liabilities were $194.0 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of December 31, 2025 is $188.5 million for contracts greater than one year, which primarily relates to extended warranties. The Company expects to recognize approximately $60.2 million of this amount in 2026 and $128.3 million thereafter. Contract assets as of January 1, 2025 and December 31, 2025 were not material. In addition, costs to obtain and fulfill contracts during the period were not material.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 19, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.