XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.21.1

Segment Information (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2021
Segment Reporting [Abstract] |
Information About the Company's Segments | The following table sets forth information about the Company's segments, including a reconciliation of adjusted EBITDA to net income.
|  | Three Months Ended March 31, |  | Six Months Ended March 31,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Sales: |  |
SGK Brand Solutions |  | $ | 171,024 |  |  | $ | 172,855 |  |  | $ | 339,164 |  |  | $ | 347,735 |
Memorialization |  | 205,457 |  |  | 161,819 |  |  | 388,731 |  |  | 316,224 |
Industrial Technologies |  | 40,673 |  |  | 40,126 |  |  | 75,916 |  |  | 75,785 |
Consolidated Sales |  | $ | 417,154 |  |  | $ | 374,800 |  |  | $ | 803,811 |  |  | $ | 739,744 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
SGK Brand Solutions |  | $ | 20,832 |  |  | $ | 22,224 |  |  | $ | 42,168 |  |  | $ | 40,962 |
Memorialization |  | 51,606 |  |  | 35,193 |  |  | 95,678 |  |  | 65,286 |
Industrial Technologies |  | 5,809 |  |  | 6,212 |  |  | 9,302 |  |  | 10,526 |
Corporate and Non-Operating |  | (17,307) |  |  | (14,232) |  |  | (31,445) |  |  | (27,147) |
Total Adjusted EBITDA |  | $ | 60,940 |  |  | $ | 49,397 |  |  | $ | 115,703 |  |  | $ | 89,627 |
Acquisition related items (1)** |  | 702 |  |  | (742) |  |  | 360 |  |  | (2,221) |
ERP integration costs (2)** |  | (216) |  |  | (750) |  |  | (359) |  |  | (1,415) |
Strategic initiatives and other charges: (3)** |  |  |  |  |  |  |  |
Workforce reductions and related costs |  | (1,792) |  |  | (1,387) |  |  | (8,818) |  |  | (3,649) |
Other cost-reduction initiatives |  | (3,787) |  |  | (7,750) |  |  | (7,468) |  |  | (16,208) |
Non-recurring / incremental coronavirus disease 2019 ("COVID-19") costs (4) |  | (1,572) |  |  | (663) |  |  | (2,696) |  |  | (663) |
Goodwill write-down (5) |  | — |  |  | (90,408) |  |  | — |  |  | (90,408) |
Joint Venture depreciation, amortization, interest expense and other charges (6) |  | — |  |  | (1,462) |  |  | — |  |  | (2,259) |
Stock-based compensation |  | (4,001) |  |  | (2,508) |  |  | (7,247) |  |  | (4,539) |
Non-service pension and postretirement expense (7) |  | (1,901) |  |  | (2,227) |  |  | (3,801) |  |  | (4,455) |
Depreciation and amortization * |  | (35,179) |  |  | (29,317) |  |  | (62,530) |  |  | (58,250) |
Interest expense |  | (7,233) |  |  | (9,613) |  |  | (14,961) |  |  | (18,853) |
Net income (loss) attributable to noncontrolling interests |  | 163 |  |  | (231) |  |  | (71) |  |  | (71) |
Income (loss) before income taxes |  | 6,124 |  |  | (97,661) |  |  | 8,112 |  |  | (113,364) |
Income tax (provision) benefit |  | (972) |  |  | 11,066 |  |  | (4,952) |  |  | 16,463 |
Net income (loss) |  | $ | 5,152 |  |  | $ | (86,595) |  |  | $ | 3,160 |  |  | $ | (96,901) |
Note 13. Segment Information (continued)
(1) Includes certain non-recurring items associated with recent acquisition activities.
(2) Represents costs associated with global ERP system integration efforts.
(3) Includes certain non-recurring costs associated with productivity and cost-reduction initiatives intended to result in improved operating performance, profitability and working capital levels.
(4) Includes certain non-recurring direct incremental costs (such as costs for purchases of computer peripherals and devices to facilitate working-from-home, additional personal protective equipment and cleaning supplies and services, etc.) incurred in response to COVID-19. This amount does not include the impact of any lost sales or underutilization due to COVID-19.
(5) Represents the goodwill write-down for two reporting units within the SGK Brand Solutions segment.
(6) Represents the Company's portion of depreciation, intangible amortization, interest expense, and other non-recurring charges incurred by non-consolidated subsidiaries accounted for as equity-method investments within the Memorialization segment.
(7) Non-service pension and postretirement expense includes interest cost, expected return on plan assets and amortization of actuarial gains and losses. These benefit cost components are excluded from adjusted EBITDA since they are primarily influenced by external market conditions that impact investment returns and interest (discount) rates. The service cost and prior service cost components of pension and postretirement expense are included in the calculation of adjusted EBITDA, since they are considered to be a better reflection of the ongoing service-related costs of providing these benefits. Please note that GAAP pension and postretirement expense or the adjustment above are not necessarily indicative of the current or future cash flow requirements related to these employee benefit plans.
* Depreciation and amortization was $26,740 and $21,785 for the SGK Brand Solutions segment, $5,709 and $4,839 for the Memorialization segment, $1,401 and $1,428 for the Industrial Technologies segment, and $1,329 and $1,265 for Corporate and Non-Operating, for the three months ended March 31, 2021 and 2020, respectively. Depreciation and amortization was $45,887 and $43,441 for the SGK Brand Solutions segment, $11,178 and $9,475 for the Memorialization segment, $2,842 and $2,870 for the Industrial Technologies segment, and $2,623 and $2,464 for Corporate and Non-Operating, for the six months ended March 31, 2021 and 2020, respectively. ** Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $2,991 and $3,818 for the SGK Brand Solutions segment, income of $335 and charges of $730 for the Memorialization segment, and charges of $2,437 and $5,813 for Corporate and Non-Operating, for the three months ended March 31, 2021 and 2020, respectively. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $268 for the Industrial Technologies segment, for the three months ended March 31, 2020. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $10,346 and $7,264 for the SGK Brand Solutions segment, $795 and $1,057 for the Memorialization segment, and $5,144 and $14,904 for Corporate and Non-Operating, for the six months ended March 31, 2021 and 2020, respectively. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $268 for the Industrial Technologies segment, for the six months ended March 31, 2020.

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration