XML 65 R51.htm IDEA: XBRL DOCUMENT
v3.22.2.2

SEGMENT INFORMATION (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2022
Segment Reporting [Abstract] |
SEGMENT INFORMATION | Information about the Company's segments follows:
| Memorialization |  | Industrial Technologies |  | SGK Brand Solutions |  | Corporate and Non-Operating |  | Consolidated
Sales to external customers:
2022 | $ | 840,124 |  |  | $ | 335,523 |  |  | $ | 586,756 |  |  | $ | — |  |  | $ | 1,762,403 |
2021 | 769,016 |  |  | 284,495 |  |  | 617,519 |  |  | — |  |  | 1,671,030 |
2020 | 656,035 |  |  | 228,453 |  |  | 613,818 |  |  | — |  |  | 1,498,306 |
Intersegment sales:
2022 | — |  |  | 1,057 |  |  | 1,295 |  |  | — |  |  | 2,352 |
2021 | — |  |  | 2,146 |  |  | 2,376 |  |  | — |  |  | 4,522 |
2020 | 4 |  |  | 3,629 |  |  | 2,621 |  |  | — |  |  | 6,254 |
Depreciation and amortization:
2022 | 23,228 |  |  | 11,387 |  |  | 64,173 |  |  | 5,268 |  |  | 104,056 |
2021 | 23,043 |  |  | 11,427 |  |  | 93,665 |  |  | 5,377 |  |  | 133,512 |
2020 | 20,527 |  |  | 11,923 |  |  | 81,445 |  |  | 5,163 |  |  | 119,058 |
Adjusted EBITDA:
2022 | 151,849 |  |  | 56,762 |  |  | 60,120 |  |  | (58,323) |  |  | 210,408 |
2021 | 165,653 |  |  | 34,889 |  |  | 91,435 |  |  | (64,227) |  |  | 227,750 |
2020 | 146,285 |  |  | 23,055 |  |  | 90,342 |  |  | (56,602) |  |  | 203,080 |
Total assets:
2022 | 800,666 |  |  | 414,019 |  |  | 631,291 |  |  | 36,795 |  |  | 1,882,771 |
2021 | 807,215 |  |  | 285,710 |  |  | 874,001 |  |  | 65,152 |  |  | 2,032,078 |
2020 | 779,886 |  |  | 255,512 |  |  | 951,533 |  |  | 85,702 |  |  | 2,072,633 |
Capital expenditures:
2022 | 28,899 |  |  | 13,646 |  |  | 14,287 |  |  | 4,489 |  |  | 61,321 |
2021 | 11,969 |  |  | 8,620 |  |  | 11,775 |  |  | 1,949 |  |  | 34,313 |
2020 | 11,282 |  |  | 14,058 |  |  | 7,790 |  |  | 1,719 |  |  | 34,849 |
A reconciliation of adjusted EBITDA to net income follows:
|  | 2022 |  | 2021 |  | 2020
Total Adjusted EBITDA |  | $ | 210,408 |  |  | $ | 227,750 |  |  | $ | 203,080 |
RPA financing fees (1) |  | (1,046) |  |  | — |  |  | — |
Strategic initiatives and other charges (2)** |  | (37,431) |  |  | (29,539) |  |  | (40,686) |
Legal matter reserve (3) |  | — |  |  | — |  |  | (10,566) |
Non-recurring / incremental COVID-19 costs (4)*** |  | (2,985) |  |  | (5,312) |  |  | (3,908) |
Defined benefit plan termination related items (5) |  | 429 |  |  | — |  |  | — |
Asset write-downs, net (6) |  | (10,050) |  |  | — |  |  | — |
Goodwill write-downs (7) |  | (82,454) |  |  | — |  |  | (90,408) |
Gain on sale of ownership interests in subsidiaries (8) |  | — |  |  | — |  |  | 11,208 |
Joint Venture depreciation, amortization, interest expense and other charges (9) |  | — |  |  | — |  |  | (4,732) |
Stock-based compensation |  | (17,432) |  |  | (15,581) |  |  | (8,096) |
Non-service pension and postretirement expense (10) |  | (31,823) |  |  | (5,837) |  |  | (7,789) |
Depreciation and amortization * |  | (104,056) |  |  | (133,512) |  |  | (119,058) |
Interest expense |  | (27,725) |  |  | (28,684) |  |  | (34,885) |
Net loss attributable to noncontrolling interests |  | (54) |  |  | (52) |  |  | (497) |
(Loss) income before income taxes |  | (104,219) |  |  | 9,233 |  |  | (106,337) |
Income tax benefit (provision) |  | 4,391 |  |  | (6,375) |  |  | 18,685 |
Net (loss) income |  | $ | (99,828) |  |  | $ | 2,858 |  |  | $ | (87,652) |
(1) Represents fees for receivables sold under the Company's RPA agreement (see Note 9, "Debt and Financing Arrangements").
(2) Includes certain non-recurring items associated with recent acquisition activities, costs associated with global ERP system integration efforts, certain non-recurring costs associated with productivity and cost-reduction initiatives intended to result in improved operating performance, profitability and working capital levels, and exchange losses associated with highly inflationary accounting (see Note 2, "Summary of Significant Accounting Policies").
(3) Represents a reserve established for a legal matter involving a letter of credit for a customer in Saudi Arabia within the Memorialization segment (see Note 9, "Debt and Financing Arrangements").
(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 items associated with the termination of the Company's DB Plan, supplemental retirement plan and the defined benefit portion of the officers retirement restoration plan.
(6) Represents asset write-downs, net of recoveries within the SGK Brand Solutions segment (see Note 23, "Asset Write-Downs").
(7) Represents goodwill write-downs within the SGK Brand Solutions segment (see Note 22, "Goodwill and Other Intangible Assets").
(8) Represents the gain on the sale of ownership interests in subsidiaries within the Memorialization segment.
(9) 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.
(10) Non-service pension and postretirement expense includes interest cost, expected return on plan assets, amortization of actuarial gains and losses, curtailment gains and losses, and settlement 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. Curtailment gains and losses and settlement gains and losses are excluded from adjusted EBITDA since they generally result from certain non-recurring events, such as plan amendments to modify future benefits or settlements of plan obligations. 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 $23,228, $23,043, and $20,527 for the Memorialization segment, $11,387, $11,427, and $11,923 for the Industrial Technologies segment, $64,173, $93,665, and $81,445 for the SGK Brand Solutions segment, and $5,268, $5,377, and $5,163 for Corporate and Non-Operating, for the fiscal years ended September 30, 2022, 2021, and 2020, respectively. ** Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $3,517, $1,923, and $2,696 for the Memorialization segment, $5,631, $4,026, and $2,517 for the Industrial Technologies segment, $19,359, $12,323, and $12,488 for the SGK Brand Solutions segment, and $8,924, $11,267, and $22,985 for Corporate and Non-Operating, for the fiscal years ended September 30, 2022, 2021, and 2020, respectively. *** Non-recurring/incremental COVID-19 costs were $1,314, $3,646, and $1,819 for the Memorialization segment, $6, $38, and $32 for the Industrial Technologies segment, $1,199, $1,539, and $1,442 for the SGK Brand Solutions segment, and $466, $89, and $615 for Corporate and Non-Operating, for the fiscal years ended September 30, 2022, 2021, and 2020 respectively. Information about the Company's operations by geographic area follows:
| North America |  | Central and South America |  | Europe |  | Australia |  | Asia |  | Consolidated
Sales to external customers: |  |  |  |  |  |  |  |  |  |
2022 | $ | 1,230,267 |  |  | $ | 4,729 |  |  | $ | 444,606 |  |  | $ | 21,206 |  |  | $ | 61,595 |  |  | $ | 1,762,403 |
2021 | 1,141,396 |  |  | 5,036 |  |  | 446,274 |  |  | 23,568 |  |  | 54,756 |  |  | 1,671,030 |
2020 | 1,037,705 |  |  | 6,304 |  |  | 387,831 |  |  | 21,079 |  |  | 45,387 |  |  | 1,498,306 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |
2022 | 822,566 |  |  | 10,787 |  |  | 242,614 |  |  | 14,895 |  |  | 42,778 |  |  | 1,133,640 |
2021 | 890,545 |  |  | 14,226 |  |  | 277,655 |  |  | 21,012 |  |  | 55,598 |  |  | 1,259,036 |
2020 | 957,393 |  |  | 14,063 |  |  | 286,990 |  |  | 21,746 |  |  | 55,482 |  |  | 1,335,674 |

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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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