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Business Segment Information (Tables)
 9 Months Ended
Jul. 31, 2023
Segment Reporting [Abstract]  
Selected Financial Information of Segments

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

 

 

Three Months Ended July 31, 2023

 

 

 

Fire &
Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,
Other & Elims

 

 

Consolidated

 

Net sales

 

$

322.9

 

 

$

143.3

 

 

$

214.5

 

 

$

(0.7

)

 

$

680.0

 

Depreciation and amortization

 

$

3.2

 

 

$

0.8

 

 

$

1.7

 

 

$

0.6

 

 

$

6.3

 

Capital expenditures

 

$

4.3

 

 

$

1.8

 

 

$

1.4

 

 

$

1.6

 

 

$

9.1

 

Total assets

 

$

728.5

 

 

$

234.5

 

 

$

365.5

 

 

$

51.0

 

 

$

1,379.5

 

Adjusted EBITDA

 

$

18.1

 

 

$

11.6

 

 

$

18.4

 

 

$

(8.7

)

 

 

 

 

 

 

Three Months Ended July 31, 2022

 

 

 

Fire &
Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,
Other & Elims

 

 

Consolidated

 

Net sales

 

$

230.1

 

 

$

111.0

 

 

$

254.1

 

 

$

(0.4

)

 

$

594.8

 

Depreciation and amortization

 

$

2.8

 

 

$

0.7

 

 

$

2.8

 

 

$

0.6

 

 

$

6.9

 

Capital expenditures

 

$

3.3

 

 

$

0.5

 

 

$

2.6

 

 

$

1.0

 

 

$

7.4

 

Total assets

 

$

684.8

 

 

$

234.7

 

 

$

354.7

 

 

$

58.0

 

 

$

1,332.2

 

Adjusted EBITDA

 

$

1.0

 

 

$

6.8

 

 

$

29.8

 

 

$

(8.1

)

 

 

 

 

 

 

Nine Months Ended July 31, 2023

 

 

 

Fire &
Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,
Other & Elims

 

 

Consolidated

 

Net sales

 

$

835.3

 

 

$

413.9

 

 

$

697.1

 

 

$

(1.6

)

 

$

1,944.7

 

Depreciation and amortization

 

$

9.4

 

 

$

2.3

 

 

$

6.3

 

 

$

1.7

 

 

$

19.7

 

Capital expenditures

 

$

8.0

 

 

$

4.7

 

 

$

4.5

 

 

$

2.5

 

 

$

19.7

 

Total assets

 

$

728.5

 

 

$

234.5

 

 

$

365.5

 

 

$

51.0

 

 

$

1,379.5

 

Adjusted EBITDA

 

$

25.6

 

 

$

29.6

 

 

$

71.9

 

 

$

(24.5

)

 

 

 

 

 

 

Nine Months Ended July 31, 2022

 

 

 

Fire &
Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,
Other & Elims

 

 

Consolidated

 

Net sales

 

$

712.5

 

 

$

299.2

 

 

$

697.7

 

 

$

(1.3

)

 

$

1,708.1

 

Depreciation and amortization

 

$

11.2

 

 

$

2.2

 

 

$

10.1

 

 

$

1.7

 

 

$

25.2

 

Capital expenditures

 

$

7.5

 

 

$

1.5

 

 

$

5.2

 

 

$

1.7

 

 

$

15.9

 

Total assets

 

$

684.8

 

 

$

234.7

 

 

$

354.7

 

 

$

58.0

 

 

$

1,332.2

 

Adjusted EBITDA

 

$

0.6

 

 

$

19.0

 

 

$

75.6

 

 

$

(23.6

)

 

 

 
Reconciliation of Segment Adjusted EBITDA to Net Income

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

 

 

Three Months Ended
July 31,

 

 

Nine Months Ended
July 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Fire & Emergency Adjusted EBITDA

 

$

18.1

 

 

$

1.0

 

 

$

25.6

 

 

$

0.6

 

Commercial Adjusted EBITDA

 

 

11.6

 

 

 

6.8

 

 

 

29.6

 

 

 

19.0

 

Recreation Adjusted EBITDA

 

 

18.4

 

 

 

29.8

 

 

 

71.9

 

 

 

75.6

 

Corporate and Other Adjusted EBITDA

 

 

(8.7

)

 

 

(8.1

)

 

 

(24.5

)

 

 

(23.6

)

Depreciation and amortization

 

 

(6.3

)

 

 

(6.9

)

 

 

(19.7

)

 

 

(25.2

)

Interest expense, net

 

 

(7.3

)

 

 

(4.3

)

 

 

(21.9

)

 

 

(11.2

)

Provision for income taxes

 

 

(3.5

)

 

 

(3.4

)

 

 

(4.2

)

 

 

(1.2

)

Transaction expenses

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.5

)

 

 

(0.6

)

Sponsor expense reimbursement

 

 

—

 

 

 

—

 

 

 

(0.2

)

 

 

(0.1

)

Restructuring costs

 

 

—

 

 

 

(2.3

)

 

 

—

 

 

 

(8.9

)

Restructuring related charges

 

 

(1.9

)

 

 

—

 

 

 

(10.5

)

 

 

(5.1

)

Stock-based compensation expense

 

 

(3.5

)

 

 

(1.8

)

 

 

(11.0

)

 

 

(6.3

)

Legal matters

 

 

(1.1

)

 

 

(1.2

)

 

 

(16.6

)

 

 

(6.4

)

Loss on sale of business

 

 

—

 

 

 

—

 

 

 

(1.1

)

 

 

(0.1

)

Other items

 

 

(0.8

)

 

 

—

 

 

 

(1.3

)

 

 

—

 

Net income

 

$

14.9

 

 

$

9.5

 

 

$

15.6

 

 

$

6.5