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Segment Information (Tables) | 6 Months Ended
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Mar. 31, 2022
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,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Sales: |  |
SGK Brand Solutions |  | $ | 146,820 |  |  | $ | 146,415 |  |  | $ | 300,362 |  |  | $ | 296,374 |
Memorialization |  | 220,004 |  |  | 205,457 |  |  | 430,710 |  |  | 388,731 |
Industrial Technologies |  | 78,154 |  |  | 65,282 |  |  | 152,485 |  |  | 118,706 |
Consolidated Sales |  | $ | 444,978 |  |  | $ | 417,154 |  |  | $ | 883,557 |  |  | $ | 803,811 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
SGK Brand Solutions |  | $ | 13,462 |  |  | $ | 18,364 |  |  | $ | 28,876 |  |  | $ | 40,197 |
Memorialization |  | 42,944 |  |  | 51,606 |  |  | 86,314 |  |  | 95,678 |
Industrial Technologies |  | 14,385 |  |  | 8,277 |  |  | 21,568 |  |  | 11,273 |
Corporate and Non-Operating |  | (15,601) |  |  | (17,307) |  |  | (28,235) |  |  | (31,445) |
Total Adjusted EBITDA |  | $ | 55,190 |  |  | $ | 60,940 |  |  | $ | 108,523 |  |  | $ | 115,703 |
Strategic initiatives and other charges (1)** |  | (6,750) |  |  | (5,093) |  |  | (10,573) |  |  | (16,285) |
Non-recurring / incremental coronavirus disease 2019 ("COVID-19") costs (2)*** |  | (1,213) |  |  | (1,572) |  |  | (1,903) |  |  | (2,696) |
Defined benefit plan termination related items (3) |  | 79 |  |  | — |  |  | (347) |  |  | — |
Asset write-downs (4) |  | (10,486) |  |  | — |  |  | (10,486) |  |  | — |
Stock-based compensation |  | (5,222) |  |  | (4,001) |  |  | (8,931) |  |  | (7,247) |
Non-service pension and postretirement expense (5) |  | (242) |  |  | (1,901) |  |  | (31,350) |  |  | (3,801) |
Depreciation and amortization * |  | (23,724) |  |  | (35,179) |  |  | (57,225) |  |  | (62,530) |
Interest expense |  | (6,260) |  |  | (7,233) |  |  | (12,767) |  |  | (14,961) |
Net (loss) income attributable to noncontrolling interests |  | (31) |  |  | 163 |  |  | (38) |  |  | (71) |
Income (loss) before income taxes |  | 1,341 |  |  | 6,124 |  |  | (25,097) |  |  | 8,112 |
Income tax (provision) benefit |  | (3,277) |  |  | (972) |  |  | 3,351 |  |  | (4,952) |
Net loss |  | $ | (1,936) |  |  | $ | 5,152 |  |  | $ | (21,746) |  |  | $ | 3,160 |
Note 13. Segment Information (continued)
(1) Includes certain non-recurring items associated with recent acquisition activities, costs associated with global ERP system integration efforts, and certain non-recurring costs associated with productivity and cost-reduction initiatives intended to result in improved operating performance, profitability and working capital levels.
(2) 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.
(3) 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.
(4) Represents asset write-downs within the SGK Brand Solutions segment (see Note 15, "Asset Write-Downs").
(5) 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 $14,060 and $25,261 for the SGK Brand Solutions segment, $5,803 and $5,709 for the Memorialization segment, $2,531 and $2,880 for the Industrial Technologies segment, and $1,330 and $1,329 for Corporate and Non-Operating, for the three months ended March 31, 2022 and 2021, respectively. Depreciation and amortization was $37,785 and $43,109 for the SGK Brand Solutions segment, $11,613 and $11,178 for the Memorialization segment, $5,184 and $5,620 for the Industrial Technologies segment, and $2,643 and $2,623 for Corporate and Non-Operating, for the six months ended March 31, 2022 and 2021, respectively. ** Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $4,475 and $2,865 for the SGK Brand Solutions segment, charges of $516 and income of $335 for the Memorialization segment, charges of $161 and $126 for the Industrial Technologies segment, and $1,598 and $2,437 for Corporate and Non-Operating, for the three months ended March 31, 2022 and 2021, respectively. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $5,703 and $7,561 for the SGK Brand Solutions segment, $1,188 and $795 for the Memorialization segment, $193 and $2,785 for the Industrial Technologies segment, and $3,489 and $5,144 for Corporate and Non-Operating, for the six months ended March 31, 2022 and 2021, respectively. *** Non-recurring/incremental COVID-19 costs were $170 and $297 for the SGK Brand Solutions segment, $579 and $1,240 for the Memorialization segment, $1 and $12 for the Industrial Technologies segment, and $463 and $23 for Corporate and Non-Operating, for the three months ended March 31, 2022 and 2021, respectively. Non-recurring/incremental COVID-19 costs were $390 and $706 for the SGK Brand Solutions segment, $1,043 and $1,890 for the Memorialization segment, $5 and $30 for the Industrial Technologies segment, and $465 and $70 for Corporate and Non-Operating, for the six months ended March 31, 2022 and 2021, respectively.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&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=123359005&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=123359005&loc=d3e8906-108599 + Details
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