XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.22.2

Segment Information (Tables) | 9 Months Ended
--- | ---
Jun. 30, 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 June 30, |  | Nine Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Sales: |  |
Memorialization |  | $ | 203,158 |  |  | $ | 184,337 |  |  | $ | 633,868 |  |  | $ | 573,068 |
Industrial Technologies |  | 78,443 |  |  | 81,832 |  |  | 230,928 |  |  | 200,538 |
SGK Brand Solutions |  | 140,118 |  |  | 162,211 |  |  | 440,480 |  |  | 458,585 |
Consolidated Sales |  | $ | 421,719 |  |  | $ | 428,380 |  |  | $ | 1,305,276 |  |  | $ | 1,232,191 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
Memorialization |  | $ | 32,090 |  |  | $ | 36,402 |  |  | $ | 118,404 |  |  | $ | 132,080 |
Industrial Technologies |  | 11,809 |  |  | 12,173 |  |  | 33,377 |  |  | 23,446 |
SGK Brand Solutions |  | 14,546 |  |  | 27,025 |  |  | 43,422 |  |  | 67,222 |
Corporate and Non-Operating |  | (12,421) |  |  | (15,585) |  |  | (40,656) |  |  | (47,030) |
Total Adjusted EBITDA |  | $ | 46,024 |  |  | $ | 60,015 |  |  | $ | 154,547 |  |  | $ | 175,718 |
Strategic initiatives and other charges (1)** |  | (7,290) |  |  | (7,213) |  |  | (17,863) |  |  | (23,498) |
Non-recurring / incremental coronavirus disease 2019 ("COVID-19") costs (2)*** |  | (301) |  |  | (1,993) |  |  | (2,204) |  |  | (4,689) |
Defined benefit plan termination related items (3) |  | 63 |  |  | — |  |  | (284) |  |  | — |
Asset write-downs, net (4) |  | 469 |  |  | — |  |  | (10,017) |  |  | — |
Stock-based compensation |  | (5,197) |  |  | (5,713) |  |  | (14,128) |  |  | (12,960) |
Non-service pension and postretirement expense (5) |  | (238) |  |  | (1,929) |  |  | (31,588) |  |  | (5,730) |
Depreciation and amortization * |  | (22,938) |  |  | (35,389) |  |  | (80,163) |  |  | (97,919) |
Interest expense |  | (6,659) |  |  | (6,748) |  |  | (19,426) |  |  | (21,709) |
Net (loss) income attributable to noncontrolling interests |  | (18) |  |  | 11 |  |  | (56) |  |  | (60) |
Income (loss) before income taxes |  | 3,915 |  |  | 1,041 |  |  | (21,182) |  |  | 9,153 |
Income tax (provision) benefit |  | (1,040) |  |  | 2,325 |  |  | 2,311 |  |  | (2,627) |
Net income (loss) |  | $ | 2,875 |  |  | $ | 3,366 |  |  | $ | (18,871) |  |  | $ | 6,526 |
Note 13. Segment Information (continued)
(1) 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, "Basis of Presentation").
(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, net of recoveries 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 $5,835 and $5,838 for the Memorialization segment, $2,459 and $2,829 for the Industrial Technologies segment, $13,334 and $25,383 for the SGK Brand Solutions segment, and $1,310 and $1,339 for Corporate and Non-Operating, for the three months ended June 30, 2022 and 2021, respectively. Depreciation and amortization was $17,448 and $17,016 for the Memorialization segment, $7,643 and $8,449 for the Industrial Technologies segment, $51,119 and $68,492 for the SGK Brand Solutions segment, and $3,953 and $3,962 for Corporate and Non-Operating, for the nine months ended June 30, 2022 and 2021, respectively. ** Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $902 and $484 for the Memorialization segment, $1,183 and $881 for the Industrial Technologies segment, $1,970 and $2,909 for the SGK Brand Solutions segment, and $3,235 and $2,939 for Corporate and Non-Operating, for the three months ended June 30, 2022 and 2021, respectively. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $2,090 and $1,279 for the Memorialization segment, $1,376 and $3,666 for the Industrial Technologies segment, $7,673 and $10,470 for the SGK Brand Solutions segment, and $6,724 and $8,083 for Corporate and Non-Operating, for the nine months ended June 30, 2022 and 2021, respectively. *** Non-recurring/incremental COVID-19 costs were $225 and $1,333 for the Memorialization segment, $1 and $6 for the Industrial Technologies segment, $74 and $638 for the SGK Brand Solutions segment, and $1 and $16 for Corporate and Non-Operating, for the three months ended June 30, 2022 and 2021, respectively. Non-recurring/incremental COVID-19 costs were $1,268 and $3,223 for the Memorialization segment, $6 and $36 for the Industrial Technologies segment, $464 and $1,344 for the SGK Brand Solutions segment, and $466 and $86 for Corporate and Non-Operating, for the nine months ended June 30, 2022 and 2021, respectively.

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