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Business Segment Information (Tables)
 6 Months Ended
Apr. 30, 2020
Segment Reporting [Abstract]  
Selected Financial Information of Segments

Selected financial information of the Company’s segments is as follows:

 

 

 

Three Months Ended April 30, 2020

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

289.3

 

 

$

143.2

 

 

$

114.0

 

 

$

0.5

 

 

$

547.0

 

Depreciation and amortization

 

$

3.6

 

 

$

1.9

 

 

$

3.3

 

 

$

2.1

 

 

$

10.9

 

Capital expenditures

 

$

2.3

 

 

$

0.8

 

 

$

0.6

 

 

$

0.8

 

 

$

4.5

 

Total assets

 

$

796.6

 

 

$

250.5

 

 

$

289.8

 

 

$

126.0

 

 

$

1,462.9

 

Adjusted EBITDA

 

$

10.2

 

 

$

8.0

 

 

$

(1.1

)

 

$

(9.5

)

 

 

 

 

 

 

 

Three Months Ended April 30, 2019

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

247.1

 

 

$

170.0

 

 

$

199.7

 

 

$

(1.8

)

 

$

615.0

 

Depreciation and amortization

 

$

3.5

 

 

$

2.1

 

 

$

4.3

 

 

$

1.7

 

 

$

11.6

 

Capital expenditures

 

$

1.8

 

 

$

1.1

 

 

$

1.0

 

 

$

(0.8

)

 

$

3.1

 

Total assets

 

$

627.2

 

 

$

322.3

 

 

$

356.6

 

 

$

107.2

 

 

$

1,413.3

 

Adjusted EBITDA

 

$

15.1

 

 

$

14.7

 

 

$

17.3

 

 

$

(11.0

)

 

 

 

 

 

 

 

 

Six Months Ended April 30, 2020

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

495.8

 

 

$

301.3

 

 

$

280.9

 

 

$

1.1

 

 

$

1,079.1

 

Depreciation and amortization

 

$

7.1

 

 

$

3.7

 

 

$

6.9

 

 

$

4.0

 

 

$

21.7

 

Capital expenditures

 

$

4.0

 

 

$

1.4

 

 

$

1.4

 

 

$

0.9

 

 

$

7.7

 

Total assets

 

$

796.6

 

 

$

250.5

 

 

$

289.8

 

 

$

126.0

 

 

$

1,462.9

 

Adjusted EBITDA

 

$

12.1

 

 

$

17.9

 

 

$

5.9

 

 

$

(17.5

)

 

 

 

 

 

 

 

Six Months Ended April 30, 2019

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

451.2

 

 

$

310.6

 

 

$

375.9

 

 

$

(4.0

)

 

$

1,133.7

 

Depreciation and amortization

 

$

7.0

 

 

$

4.7

 

 

$

8.3

 

 

$

3.8

 

 

$

23.8

 

Capital expenditures

 

$

3.2

 

 

$

1.7

 

 

$

2.4

 

 

$

2.1

 

 

$

9.4

 

Total assets

 

$

627.2

 

 

$

322.3

 

 

$

356.6

 

 

$

107.2

 

 

$

1,413.3

 

Adjusted EBITDA

 

$

23.4

 

 

$

19.7

 

 

$

26.5

 

 

$

(21.2

)

 

 

 

 

 
Reconciliation of Segment Adjusted EBITDA to Net (Loss) Income

Provided below is a reconciliation of segment Adjusted EBITDA to net (loss) income:

 

 

 

Three Months Ended

April 30,

 

 

Six Months Ended

April 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Fire & Emergency Adjusted EBITDA

 

$

10.2

 

 

$

15.1

 

 

$

12.1

 

 

$

23.4

 

Commercial Adjusted EBITDA

 

 

8.0

 

 

 

14.7

 

 

 

17.9

 

 

 

19.7

 

Recreation Adjusted EBITDA

 

 

(1.1

)

 

 

17.3

 

 

 

5.9

 

 

 

26.5

 

Corporate and Other Adjusted EBITDA

 

 

(9.5

)

 

 

(11.0

)

 

 

(17.5

)

 

 

(21.2

)

Depreciation and amortization

 

 

(10.9

)

 

 

(11.6

)

 

 

(21.7

)

 

 

(23.8

)

Interest expense, net

 

 

(7.3

)

 

 

(8.0

)

 

 

(14.6

)

 

 

(15.8

)

Benefit (provision) for income taxes

 

 

10.1

 

 

 

(2.5

)

 

 

12.7

 

 

 

1.9

 

Transaction expenses

 

 

(0.9

)

 

 

—

 

 

 

(2.0

)

 

 

(0.2

)

Sponsor expense reimbursement

 

 

—

 

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.6

)

Restructuring costs

 

 

(6.1

)

 

 

(1.8

)

 

 

(6.7

)

 

 

(2.9

)

Stock-based compensation expense

 

 

(2.9

)

 

 

(3.4

)

 

 

(5.5

)

 

 

(4.8

)

Legal matters

 

 

(1.4

)

 

 

(2.4

)

 

 

(1.5

)

 

 

(4.5

)

Loss on sale of business

 

 

(8.8

)

 

 

—

 

 

 

(8.8

)

 

 

—

 

Gain on acquisition of business

 

 

11.9

 

 

 

—

 

 

 

11.9

 

 

 

—

 

Impairment charges

 

 

—

 

 

 

(0.1

)

 

 

—

 

 

 

(2.8

)

Earnings (losses) attributable to assets held for sale

 

 

1.1

 

 

 

—

 

 

 

1.3

 

 

 

(1.7

)

Deferred purchase price payment

 

 

—

 

 

 

(0.6

)

 

 

(0.1

)

 

 

(2.2

)

Net (loss) income

 

$

(7.6

)

 

$

5.6

 

 

$

(16.7

)

 

$

(9.0

)