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v3.23.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | Reportable segment information is presented in the following table:
(In thousands, except percentages) |  | Americas |  | International |  | Corporate |  |  |  | Consolidated Totals
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 314,273 |  |  | $ | 132,455 |  |  | $ | — |  |  |  |  | $ | 446,728 |
Operating income |  |  |  |  |  |  |  |  |  | 94,123 |
Restructuring charges (Note 3) |  |  |  |  |  |  |  |  |  | 3,285 |
Currency exchange losses, net |  |  |  |  |  |  |  |  |  | 1,496 |
Amortization of acquisition-related intangible assets |  |  |  |  |  |  |  |  |  | 2,315 |
Transaction costs(a) |  |  |  |  |  |  |  |  |  | 78 |
Adjusted operating income (loss) |  | 93,918 |  |  | 22,577 |  |  | (15,198) |  |  |  |  | 101,297 |
Adjusted operating margin % |  | 29.9 | % |  | 17.0 | % |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 13,189 |
Adjusted EBITDA |  | 103,157 |  |  | 26,289 |  |  | (14,960) |  |  |  |  | 114,486 |
Adjusted EBITDA margin % |  | 32.8 | % |  | 19.8 | % |  |  |  |  |  |
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 276,082 |  |  | $ | 105,612 |  |  | $ | — |  |  |  |  | $ | 381,694 |
Operating income |  |  |  |  |  |  |  |  |  | 64,313 |
Restructuring charges (Note 3) |  |  |  |  |  |  |  |  |  | 899 |
Currency exchange losses, net |  |  |  |  |  |  |  |  |  | 2,979 |
Product liability expense (Note 17) |  |  |  |  |  |  |  |  |  | 4,035 |
Amortization of acquisition-related intangible assets |  |  |  |  |  |  |  |  |  | 2,279 |
Transaction costs(a) |  |  |  |  |  |  |  |  |  | 620 |
Adjusted operating income (loss) |  | 75,088 |  |  | 8,448 |  |  | (8,411) |  |  |  |  | 75,125 |
Adjusted operating margin % |  | 27.2 | % |  | 8.0 | % |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 11,518 |
Adjusted EBITDA |  | 83,945 |  |  | 10,980 |  |  | (8,282) |  |  |  |  | 86,643 |
Adjusted EBITDA margin % |  | 30.4 | % |  | 10.4 | % |  |  |  |  |  |
(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.
(In thousands, except percentages) |  | Americas |  | International |  | Corporate |  |  |  | Consolidated Totals
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 902,918 |  |  | $ | 389,372 |  |  | $ | — |  |  |  |  | $ | 1,292,290 |
Operating income |  |  |  |  |  |  |  |  |  | 129,070 |
Restructuring charges (Note 3) |  |  |  |  |  |  |  |  |  | 8,382 |
Currency exchange losses, net |  |  |  |  |  |  |  |  |  | 8,781 |
Loss on divestiture of MSA LLC (Note 17) |  |  |  |  |  |  |  |  |  | 129,211 |
Product liability expense (Note 17) |  |  |  |  |  |  |  |  |  | 3 |
Amortization of acquisition-related intangible assets |  |  |  |  |  |  |  |  |  | 6,936 |
Transaction costs(a) |  |  |  |  |  |  |  |  |  | 78 |
Adjusted operating income (loss) |  | 260,428 |  |  | 60,099 |  |  | (38,066) |  |  |  |  | 282,461 |
Adjusted operating margin % |  | 28.8 | % |  | 15.4 | % |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 38,029 |
Adjusted EBITDA |  | 287,628 |  |  | 70,296 |  |  | (37,434) |  |  |  |  | 320,490 |
Adjusted EBITDA margin % |  | 31.9 | % |  | 18.1 | % |  |  |  |  |  |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 754,116 |  |  | $ | 330,583 |  |  | $ | — |  |  |  |  | $ | 1,084,699 |
Operating income |  |  |  |  |  |  |  |  |  | 168,517 |
Restructuring charges (Note 3) |  |  |  |  |  |  |  |  |  | 3,146 |
Currency exchange losses, net |  |  |  |  |  |  |  |  |  | 4,788 |
Product liability expense (Note 17) |  |  |  |  |  |  |  |  |  | 9,733 |
Amortization of acquisition-related intangible assets |  |  |  |  |  |  |  |  |  | 6,922 |
Transaction costs(a) |  |  |  |  |  |  |  |  |  | 1,476 |
Adjusted operating income (loss) |  | 184,664 |  |  | 34,674 |  |  | (24,756) |  |  |  |  | 194,582 |
Adjusted operating margin % |  | 24.5 | % |  | 10.5 | % |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 34,961 |
Adjusted EBITDA |  | 210,201 |  |  | 43,708 |  |  | (24,366) |  |  |  |  | 229,543 |
Adjusted EBITDA margin % |  | 27.9 | % |  | 13.2 | % |  |  |  |  |  |
(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.
Percentage of Total Sales by Product Group | Total sales by product group was as follows:
Three Months Ended September 30, 2023 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars | Percent |  | Dollars | Percent |  | Dollars | Percent
Fixed Gas & Flame Detection | $ | 112,012 |  | 25% |  | $ | 73,074 |  | 23% |  | $ | 38,938 |  | 29%
Breathing Apparatus | 111,024 |  | 25% |  | 79,908 |  | 25% |  | 31,116 |  | 24%
Firefighter Helmets & Protective Apparel | 64,707 |  | 15% |  | 51,608 |  | 16% |  | 13,099 |  | 10%
Portable Gas Detection | 43,682 |  | 10% |  | 31,933 |  | 10% |  | 11,749 |  | 9%
Industrial Head Protection | 45,780 |  | 10% |  | 36,402 |  | 12% |  | 9,378 |  | 7%
Fall Protection | 31,980 |  | 7% |  | 20,235 |  | 7% |  | 11,745 |  | 9%
Other | 37,543 |  | 8% |  | 21,113 |  | 7% |  | 16,430 |  | 12%
Total | $ | 446,728 |  | 100% |  | $ | 314,273 |  | 100% |  | $ | 132,455 |  | 100%
Three Months Ended September 30, 2022 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars | Percent |  | Dollars | Percent |  | Dollars | Percent
Fixed Gas & Flame Detection | $ | 87,746 |  | 23% |  | $ | 62,134 |  | 23% |  | $ | 25,612 |  | 24%
Breathing Apparatus | 91,977 |  | 24% |  | 70,482 |  | 26% |  | 21,495 |  | 20%
Firefighter Helmets & Protective Apparel | 54,738 |  | 14% |  | 41,958 |  | 15% |  | 12,780 |  | 12%
Portable Gas Detection | 39,481 |  | 10% |  | 28,358 |  | 10% |  | 11,123 |  | 11%
Industrial Head Protection | 43,608 |  | 11% |  | 34,620 |  | 13% |  | 8,988 |  | 9%
Fall Protection | 27,839 |  | 7% |  | 17,658 |  | 6% |  | 10,181 |  | 10%
Other | 36,305 |  | 11% |  | 20,872 |  | 7% |  | 15,433 |  | 14%
Total | $ | 381,694 |  | 100% |  | $ | 276,082 |  | 100% |  | $ | 105,612 |  | 100%
Nine Months Ended September 30, 2023 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars | Percent |  | Dollars | Percent |  | Dollars | Percent
Fixed Gas & Flame Detection | $ | 311,502 |  | 24% |  | $ | 200,604 |  | 22% |  | $ | 110,898 |  | 28%
Breathing Apparatus | 288,976 |  | 22% |  | 201,945 |  | 22% |  | 87,031 |  | 22%
Firefighter Helmets & Protective Apparel | 192,634 |  | 15% |  | 152,784 |  | 17% |  | 39,850 |  | 10%
Portable Gas Detection | 149,036 |  | 12% |  | 108,088 |  | 12% |  | 40,948 |  | 11%
Industrial Head Protection | 135,851 |  | 11% |  | 106,120 |  | 12% |  | 29,731 |  | 8%
Fall Protection | 97,019 |  | 7% |  | 63,168 |  | 7% |  | 33,851 |  | 9%
Other | 117,272 |  | 9% |  | 70,209 |  | 8% |  | 47,063 |  | 12%
Total | $ | 1,292,290 |  | 100% |  | $ | 902,918 |  | 100% |  | $ | 389,372 |  | 100%
Nine Months Ended September 30, 2022 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars | Percent |  | Dollars | Percent |  | Dollars | Percent
Fixed Gas & Flame Detection | $ | 251,321 |  | 23% |  | $ | 167,269 |  | 22% |  | $ | 84,052 |  | 25%
Breathing Apparatus | 254,878 |  | 23% |  | 185,490 |  | 25% |  | 69,388 |  | 21%
Firefighter Helmets & Protective Apparel | 151,097 |  | 14% |  | 110,471 |  | 15% |  | 40,626 |  | 12%
Portable Gas Detection | 121,116 |  | 11% |  | 85,815 |  | 11% |  | 35,301 |  | 11%
Industrial Head Protection | 123,489 |  | 11% |  | 96,808 |  | 13% |  | 26,681 |  | 8%
Fall Protection | 79,114 |  | 7% |  | 50,940 |  | 7% |  | 28,174 |  | 9%
Other | 103,684 |  | 11% |  | 57,323 |  | 7% |  | 46,361 |  | 14%
Total | $ | 1,084,699 |  | 100% |  | $ | 754,116 |  | 100% |  | $ | 330,583 |  | 100%

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