<TABLE>
<CAPTION>
Brunswick Corporation Exhibit 99.1
Quarter Consolidated Statements of Income
(in millions, except percentages and per share data)
(unaudited)
Q1 1999 Q2 1999 Q3 1999 Q4 1999 Q1 2000 Q2 2000 Q3 2000
-------- -------- -------- -------- --------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
Net sales $870.2 $945.8 $861.9 $863.4 $955.4 $1,040.8 $939.1
Cost of sales 625.0 663.3 616.7 622.3 681.7 727.1 668.5
Selling, general and administrative expense 149.2 159.2 152.9 162.1 160.7 164.6 162.9
--------- --------- -------- -------- -------- -------- --------
Operating earnings before unusual charges 96.0 123.3 92.3 79.0 113.0 149.1 107.7
Unusual charges - - 48.0 68.0 - - 55.1
--------- --------- -------- -------- -------- -------- --------
Operating earnings 96.0 123.3 44.3 11.0 113.0 149.1 52.6
Interest expense (15.5) (15.1) (15.5) (14.9) (16.4) (18.8) (17.7)
Other income (expense) (0.7) 2.1 1.4 2.9 1.1 (0.4) (2.6)
--------- --------- -------- -------- -------- -------- ---------
Earnings (loss) before income taxes 79.8 110.3 30.2 (1.0) 97.7 129.9 32.3
Income tax (provision) benefit (30.3) (41.0) (9.4) 4.5 (37.0) (48.4) (14.6)
--------- --------- -------- -------- -------- -------- ---------
Earnings from continuing operations 49.5 69.3 20.8 3.5 60.7 81.5 17.7
Earnings (loss) from discontinued operations, net of tax 8.1 13.1 (3.0) (123.4) (2.0) (61.0) (5.4)
Loss from disposal of discontinued operations, net of tax - - - - - (125.0) (104.6)
--------- --------- -------- -------- -------- -------- ---------
Net earnings (loss) $57.6 $82.4 $17.8 ($119.9) $58.7 ($104.5) ($92.3)
========= ========= ======== ======== ======== ========= ========
Earnings from continuing operations before unusual charges $49.5 $69.3 $51.5 $44.2 $60.7 $81.5 $57.7
========= ========= ======== ======== ======== ========= ========
Earnings (loss) per common share
Basic
Earnings from continuing operations before unusual charges $0.54 $0.75 $0.56 $0.48 $0.66 $0.93 $0.66
Unusual charges - - (0.33) (0.44) - - (0.46)
--------- --------- -------- -------- -------- --------- --------
Earnings from continuing operations 0.54 0.75 0.23 0.04 0.66 0.93 0.20
Earnings (loss) from discontinued operations 0.09 0.14 (0.03) (1.34) (0.02) (0.69) (0.06)
Loss from disposal of discontinued operations - - - - - (1.42) (1.19)
--------- --------- -------- -------- -------- --------- --------
Net earnings (loss) $0.63 $0.90 $0.19 ($1.30) $0.64 ($1.19) ($1.05)
========= ========= ======== ======== ======== ========= ========
Diluted
Earnings from continuing operations before unusual charges $0.53 $0.75 $0.55 $0.48 $0.66 $0.93 $0.66
Unusual charges - - (0.33) (0.44) - - (0.46)
--------- --------- -------- -------- -------- --------- --------
Earnings from continuing operations 0.53 0.75 0.22 0.04 0.66 0.93 0.20
Earnings (loss) from discontinued operations 0.09 0.14 (0.03) (1.34) (0.02) (0.69) (0.06)
Loss from disposal of discontinued operations - - - - - (1.42) (1.19)
--------- --------- -------- -------- -------- --------- --------
Net earnings (loss) $0.62 $0.89 $0.19 ($1.30) $0.64 ($1.19) ($1.05)
========= ========= ======== ======== ======== ========= ========
Average shares used for computation of
earnings per common share
Basic 92.0 91.9 91.9 91.9 91.4 88.1 87.6
Diluted 92.6 92.6 93.1 92.4 91.5 88.1 87.6
Effective tax rate 38.0% 37.2% 31.1% n/m 38.0% 37.3% 45.2%
Effective tax rate before unusual charges 38.0% 37.2% 34.1% 34.0% 38.0% 37.3% 34.0%
Supplemental financial information
Capital expenditures $22.7 $28.3 $36.9 $78.8 $21.5 $36.2 $34.4
Depreciation and amortization 35.1 35.4 35.7 35.2 35.2 37.3 37.2
<PAGE>
<CAPTION>
Brunswick Corporation
YTD Consolidated Statements of Income
(in millions, except percentages and per share data)
(unaudited)
Mar 1999 Jun 1999 Sep 1999 Dec 1999 Mar 2000 Jun 2000 Sep 2000
--------- --------- ---------- --------- --------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Net sales $870.2 $1,816.0 $2,677.9 $3,541.3 $955.4 $1,996.2 $2,935.3
Cost of sales 625.0 1,288.3 1,905.0 2,527.3 681.7 1,408.8 2,077.3
Selling, general and administrative expense 149.2 308.4 461.3 623.4 160.7 325.3 488.2
--------- ---------- ---------- ----------- --------- --------- ---------
Operating earnings before unusual charges 96.0 219.3 311.6 390.6 113.0 262.1 369.8
Unusual charges - - 48.0 116.0 - - 55.1
--------- ---------- ---------- ----------- --------- --------- ---------
Operating earnings 96.0 219.3 263.6 274.6 113.0 262.1 314.7
Interest expense (15.5) (30.6) (46.1) (61.0) (16.4) (35.2) (52.9)
Other income (expense) (0.7) 1.4 2.8 5.7 1.1 0.7 (1.9)
--------- ---------- ---------- ----------- --------- --------- ---------
Earnings before income taxes 79.8 190.1 220.3 219.3 97.7 227.6 259.9
Income tax provision (30.3) (71.3) (80.7) (76.2) (37.0) (85.4) (100.0)
--------- ---------- ---------- ----------- --------- --------- ---------
Earnings from continuing operations 49.5 118.8 139.6 143.1 60.7 142.2 159.9
Earnings (loss) from discontinued operations, net of tax 8.1 21.2 18.2 (105.2) (2.0) (63.0) (68.4)
Loss from disposal of discontinued operations, net of tax - - - - - (125.0) (229.6)
--------- ---------- ---------- ----------- --------- --------- ---------
Net earnings (loss) $57.6 $140.0 $157.8 $37.9 $58.7 ($45.8) ($138.1)
========= ========== ========== =========== ========= ========= =========
Earnings from continuing operations before unusual charges $49.5 $118.8 $170.3 $214.5 $60.7 $142.2 $199.9
========= ========== ========== =========== ========= ========= =========
Earnings (loss) per common share
Basic
Earnings from continuing operations before unusual charges $0.54 $1.29 $1.85 $2.33 $0.66 $1.58 $2.25
Unusual charges - - (0.33) (0.78) - - (0.45)
--------- ---------- ---------- ----------- --------- --------- ---------
Earnings from continuing operations 0.54 1.29 1.52 1.56 0.66 1.58 1.80
Earnings (loss) from discontinued operations 0.09 0.23 0.20 (1.14) (0.02) (0.70) (0.77)
Loss from disposal of discontinued operations - - - - - (1.39) (2.58)
--------- ---------- ---------- ----------- --------- --------- ---------
Net earnings (loss) $0.63 $1.52 $1.72 $0.41 $0.64 ($0.51) ($1.55)
========= ========== ========== =========== ========= ========= =========
Diluted
Earnings from continuing operations before unusual charges $0.53 $1.28 $1.84 $2.32 $0.66 $1.58 $2.24
Unusual charges - - (0.33) (0.77) - - (0.45)
--------- ---------- ---------- ----------- --------- --------- ---------
Earnings from continuing operations 0.53 1.28 1.51 1.55 0.66 1.58 1.79
Earnings (loss) from discontinued operations 0.09 0.23 0.20 (1.14) (0.02) (0.70) (0.77)
Loss from disposal of discontinued operations - - - - - (1.39) (2.58)
--------- ---------- ---------- ----------- --------- --------- ---------
Net earnings (loss) $0.62 $1.51 $1.70 $0.41 $0.64 ($0.51) ($1.55)
========= ========== ========== =========== ========= ========= =========
Average shares used for computation of
earnings per common share
Basic 92.0 91.9 91.9 92.0 91.4 89.8 89.0
Diluted 92.6 92.5 92.7 92.6 91.5 89.8 89.1
Effective tax rate 38.0% 37.5% 36.6% 34.7% 38.0% 37.5% 38.5%
Effective tax rate before unusual charges 38.0% 37.5% 36.5% 36.0% 38.0% 37.5% 36.5%
Supplemental financial information
Cash $81.2 $108.2 $122.9 $100.8 $123.8 $134.9 $129.9
Debt $910.3 $817.2 $793.2 $730.2 $918.3 $890.3 $862.8
Common shareholders' equity $1,359.9 $1,431.1 $1,434.1 $1,300.2 $1,293.5 $1,143.7 $1,040.3
Debt-to-capitalization rate 40.1% 36.3% 35.6% 36.0% 41.5% 43.8% 45.3%
Captial expenditures $22.7 $51.0 $87.9 $166.7 $21.5 $57.7 $92.1
Depreciation and amortization 35.1 70.5 106.2 141.4 35.2 72.5 109.7
<PAGE>
<CAPTION>
Brunswick Corporation
Segment Information by Quarter
(in millions)
(unaudited)
Q1 1999 Q2 1999 Q3 1999 Q4 1999 Q1 2000 Q2 2000 Q3 2000
-------- ---------- ----------- --------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Sales
-----
Marine Engine $386.7 $469.1 $394.8 $364.2 $429.0 $527.4 $434.9
Boat 368.4 390.7 360.5 357.0 418.5 409.3 396.0
Marine eliminations (69.7) (76.5) (67.5) (69.8) (79.4) (84.0) (70.4)
-------- --------- ----------- --------- --------- ---------- --------
Total Marine 685.4 783.3 687.8 651.4 768.1 852.7 760.5
Recreation 184.8 162.5 174.1 212.0 187.3 188.1 178.6
-------- --------- ----------- --------- --------- ---------- --------
Total sales $870.2 $945.8 $861.9 $863.4 $955.4 $1,040.8 $939.1
======== ========= =========== ========= ========= ========== ========
Operating Earnings
------------------
Marine Engine $53.5 $87.5 $66.8 $34.7 $60.9 $104.2 $75.2
Boat 29.4 39.8 28.1 23.4 37.9 47.1 33.1
-------- --------- ----------- --------- --------- ---------- --------
Total Marine 82.9 127.3 94.9 58.1 98.8 151.3 108.3
Recreation 23.6 7.4 10.4 32.5 25.0 8.0 11.1
Corporate/Other (10.5) (11.4) (13.0) (11.6) (10.8) (10.2) (11.7)
-------- --------- ----------- --------- --------- ---------- --------
Operating earnings before unusual charges 96.0 123.3 92.3 79.0 113.0 149.1 107.7
Unusual charges (a) - - (48.0) (68.0) - - (55.1)
-------- --------- ----------- --------- --------- ---------- --------
Total operating earnings $96.0 $123.3 $44.3 $11.0 $113.0 $149.1 $52.6
======== ========= =========== ========= ========= ========= ========
(a) Q3 1999 operating earnings include a $48.0 million charge to settle litigation.
Q4 1999 operating earnings include a $68.0 million charge to settle litigation.
Q3 2000 operating earnings include a $55.1 million charge to increase environmental reserves related to the cleanup of
contamination from a former manufacturing facility and to account for the write-down of investments in certain
Internet-related businesses.
<PAGE>
<CAPTION>
Brunswick Corporation
YTD Segment Information
(in millions)
(unaudited)
Mar 1999 Jun 1999 Sep 1999 Dec 1999 Mar 2000 Jun 2000 Sep 2000
---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Sales
-----
Marine Engine $386.7 $855.8 $1,250.6 $1,614.8 $429.0 $956.4 $1,391.3
Boat 368.4 759.1 1,119.6 1,476.6 418.5 827.8 1,223.8
Marine eliminations (69.7) (146.2) (213.7) (283.5) (79.4) (163.4) (233.8)
--------- --------- ---------- ----------- ---------- ---------- ---------
Total Marine 685.4 1,468.7 2,156.5 2,807.9 768.1 1,620.8 2,381.3
Recreation 184.8 347.3 521.4 733.4 187.3 375.4 554.0
--------- --------- ---------- ----------- ---------- ---------- ---------
Total sales $870.2 $1,816.0 $2,677.9 $3,541.3 $955.4 $1,996.2 $2,935.3
========= ========= ========== =========== ========== ========== =========
Operating Earnings
------------------
Marine Engine $53.5 $141.0 $207.8 $242.5 $60.9 $165.1 $240.3
Boat 29.4 69.2 97.3 120.7 37.9 85.0 118.1
--------- --------- ---------- ----------- ---------- ---------- ---------
Total Marine 82.9 210.2 305.1 363.2 98.8 250.1 358.4
Recreation 23.6 31.0 41.4 73.9 25.0 33.0 44.1
Corporate/Other (10.5) (21.9) (34.9) (46.5) (10.8) (21.0) (32.7)
--------- --------- ---------- ----------- ---------- ---------- ---------
Operating earnings before unusual charges 96.0 219.3 311.6 390.6 113.0 262.1 369.8
Unusual charges (b) - - (48.0) (116.0) - - (55.1)
--------- --------- ---------- ----------- ---------- ---------- ---------
Total operating earnings $96.0 $219.3 $263.6 $274.6 $113.0 $262.1 $314.7
========= ========= ========== =========== ========== ========== =========
(b) YTD Sep 1999 operating earnings include a $48.0 million charge to settle litigation.
YTD Dec 1999 operating earnings include a $116.0 million charge to settle litigation.
YTD Sep 2000 operating earnings include a $55.1 million charge to increase environmental reserves related to the cleanup
of contamination from a former manufacturing facility and to account for the write-down of investments in certain
Internet-related businesses.
</TABLE>
5
