v3.24.2.u1

Segments (Tables)

6 Months Ended

Jun. 28, 2024

Segment Reporting [Abstract]

Summary of Segment Information

The tables that follow show selected segment financial information including information for prior comparative period. Unallocated corporate expenses are corporate overhead expenses that are not directly attributable to one of our business segments and include unallocated occupancy costs for our corporate headquarters, acquisition costs, other benefit and compensation programs, including performance-based compensation, and administrative expenses such as accounting, finance, legal, human resources, and information technology expenses.

						For the three months ended												For the six months ended
						June 28, 2024						June 30, 2023						June 28, 2024						June 30, 2023
Net sales
Power Vehicles Group						$	117,795					$	140,196					$	235,908					$	282,443
Aftermarket Applications Group						107,129						155,635						208,981						294,352
Specialty Sports Group						123,567						104,884						237,074						223,771
Net sales						$	348,491					$	400,715					$	681,963					$	800,566
Net income						5,407						39,735						1,911						81,502
(Benefit) provision for income taxes						(371)						8,095						(1,638)						17,473
Depreciation and amortization						20,403						15,397						40,854						28,712
Non-cash stock-based compensation						2,203						4,483						6,109						10,184
Litigation and settlement-related expenses						1,231						659						2,760						1,637
Other acquisition and integration-related expenses (1)						470						6,125						5,633						10,599
Organizational restructuring expenses						413						—						476						—
Strategic transformation costs						822						—						1,254						—
Interest and other expense, net						13,554						4,954						27,192						8,499
Adjusted EBITDA						$	44,132					$	79,448					$	84,551					$	158,606
Power Vehicles Group						15,889						23,882						31,770						41,540
Aftermarket Applications Group						14,156						37,830						29,026						74,109
Specialty Sports Group						29,214						34,109						53,271						75,939
Unallocated corporate expenses						(15,127)						(16,373)						(29,516)						(32,982)
Adjusted EBITDA						$	44,132					$	79,448					$	84,551					$	158,606

(1) Represents various acquisition-related costs and expenses incurred to integrate acquired entities into the Company’s operations and the impact of the finished goods inventory valuation adjustment recorded in connection with the purchase of acquired assets, per period as follows:

			For the three months ended												For the six months ended
			June 28, 2024						June 30, 2023						June 28, 2024						June 30, 2023
Acquisition related costs and expenses			$	470					$	300					$	1,148					$	1,704
Purchase accounting inventory fair value adjustment amortization			—						5,825						4,485						8,895
Other acquisition and integration-related expenses			$	470					$	6,125					$	5,633					$	10,599

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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