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Segment Information (Tables) | 6 Months Ended
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Mar. 31, 2023
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,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Sales: |  |
Memorialization |  | $ | 222,889 |  |  | $ | 220,004 |  |  | $ | 429,391 |  |  | $ | 430,710 |
Industrial Technologies |  | 125,514 |  |  | 78,154 |  |  | 234,657 |  |  | 152,485 |
SGK Brand Solutions |  | 131,177 |  |  | 146,820 |  |  | 264,772 |  |  | 300,362 |
Consolidated Sales |  | $ | 479,580 |  |  | $ | 444,978 |  |  | $ | 928,820 |  |  | $ | 883,557 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
Memorialization |  | $ | 48,030 |  |  | $ | 42,944 |  |  | $ | 87,167 |  |  | $ | 86,314 |
Industrial Technologies |  | 15,565 |  |  | 14,385 |  |  | 27,767 |  |  | 21,568 |
SGK Brand Solutions |  | 11,020 |  |  | 13,462 |  |  | 23,252 |  |  | 28,876 |
Corporate and Non-Operating |  | (16,168) |  |  | (15,601) |  |  | (30,448) |  |  | (28,235) |
Total Adjusted EBITDA |  | $ | 58,447 |  |  | $ | 55,190 |  |  | $ | 107,738 |  |  | $ | 108,523 |
RPA and factoring financing fees (1) |  | (1,090) |  |  | — |  |  | (1,546) |  |  | — |
Acquisition and divestiture costs (2)** |  | (2,852) |  |  | — |  |  | (4,137) |  |  | — |
Strategic initiatives and other charges (3)** |  | (1,280) |  |  | (6,750) |  |  | (3,040) |  |  | (10,573) |
Non-recurring / incremental coronavirus disease 2019 ("COVID-19") costs (4)*** |  | — |  |  | (1,213) |  |  | — |  |  | (1,903) |
Exchange losses related to highly inflationary accounting (5) |  | (160) |  |  | — |  |  | (1,248) |  |  | — |
Defined benefit plan termination related items (6) |  | — |  |  | 79 |  |  | (21) |  |  | (347) |
Asset write-downs (7) |  | — |  |  | (10,486) |  |  | — |  |  | (10,486) |
Stock-based compensation |  | (4,278) |  |  | (5,222) |  |  | (8,612) |  |  | (8,931) |
Non-service pension and postretirement expense (8) |  | (83) |  |  | (242) |  |  | (1,471) |  |  | (31,350) |
Depreciation and amortization * |  | (24,148) |  |  | (23,724) |  |  | (47,877) |  |  | (57,225) |
Interest expense |  | (12,047) |  |  | (6,260) |  |  | (22,262) |  |  | (12,767) |
Net loss attributable to noncontrolling interests |  | (2) |  |  | (31) |  |  | (58) |  |  | (38) |
Income (loss) before income taxes |  | 12,507 |  |  | 1,341 |  |  | 17,466 |  |  | (25,097) |
Income tax (provision) benefit |  | (3,382) |  |  | (3,277) |  |  | (4,694) |  |  | 3,351 |
Net income (loss) |  | $ | 9,125 |  |  | $ | (1,936) |  |  | $ | 12,772 |  |  | $ | (21,746) |
Note 14. Segment Information (continued)
(1) Represents fees for receivables sold under the RPA and factoring arrangements (see Note 7, "Debt and Financing Arrangements").
(2) Includes certain non-recurring costs associated with recent acquisition and divestiture activities.
(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 and costs associated with global ERP system integration efforts, net of loss recoveries related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015.
(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 exchange losses associated with highly inflationary accounting related to the Company's Turkish subsidiaries (see Note 2, "Basis of Presentation").
(6) 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.
(7) Represents asset write-downs within the SGK Brand Solutions segment (see Note 17, "Asset Write-Downs").
(8) 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 $5,711 and $5,803 for the Memorialization segment, $5,916 and $2,531 for the Industrial Technologies segment, $11,319 and $14,060 for the SGK Brand Solutions segment, and $1,202 and $1,330 for Corporate and Non-Operating, for the three months ended March 31, 2023 and 2022, respectively. Depreciation and amortization was $11,285 and $11,613 for the Memorialization segment, $11,769 and $5,184 for the Industrial Technologies segment, $22,379 and $37,785 for the SGK Brand Solutions segment, and $2,444 and $2,643 for Corporate and Non-Operating, for the six months ended March 31, 2023 and 2022, respectively. ** Acquisition and divestiture costs, ERP integration costs, and strategic initiatives and other charges were $333 and $516 for the Memorialization segment, $2,437 and $161 for the Industrial Technologies segment, $2,610 and $4,475 for the SGK Brand Solutions segment, and income of $1,248 and charges of $1,598 for Corporate and Non-Operating, for the three months ended March 31, 2023 and 2022, respectively. Acquisition and divestiture costs, ERP integration costs, and strategic initiatives and other charges were $711 and $1,188 for the Memorialization segment, $3,374 and $193 for the Industrial Technologies segment, $3,131 and $5,703 for the SGK Brand Solutions segment, and income of $39 and charges of $3,489 for Corporate and Non-Operating, for the six months ended March 31, 2023 and 2022, respectively. *** Non-recurring/incremental COVID-19 costs were $579 for the Memorialization segment, $1 for the Industrial Technologies segment, $170 for the SGK Brand Solutions segment, and $463 for Corporate and Non-Operating, for the three months ended March 31, 2022. Non-recurring/incremental COVID-19 costs were $1,043 for the Memorialization segment, $5 for the Industrial Technologies segment, $390 for the SGK Brand Solutions segment, and $465 for Corporate and Non-Operating, for the six months ended March 31, 2022.

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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 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
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