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Segment Information (Tables) | 9 Months Ended
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Jun. 30, 2024
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,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Sales: |  |
Memorialization |  | $ | 202,664 |  |  | $ | 208,728 |  |  | $ | 632,891 |  |  | $ | 638,119 |
Industrial Technologies |  | 91,731 |  |  | 130,533 |  |  | 319,241 |  |  | 365,190 |
SGK Brand Solutions |  | 133,438 |  |  | 132,647 |  |  | 396,910 |  |  | 397,419 |
Consolidated Sales |  | $ | 427,833 |  |  | $ | 471,908 |  |  | $ | 1,349,042 |  |  | $ | 1,400,728 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
Memorialization |  | $ | 38,737 |  |  | $ | 39,929 |  |  | $ | 122,051 |  |  | $ | 127,096 |
Industrial Technologies |  | 4,196 |  |  | 15,041 |  |  | 23,846 |  |  | 42,808 |
SGK Brand Solutions |  | 16,054 |  |  | 16,364 |  |  | 44,317 |  |  | 39,616 |
Corporate and Non-Operating |  | (14,241) |  |  | (15,146) |  |  | (43,186) |  |  | (45,594) |
Total Adjusted EBITDA |  | $ | 44,746 |  |  | $ | 56,188 |  |  | $ | 147,028 |  |  | $ | 163,926 |
Acquisition and divestiture related items (1)** |  | (2,266) |  |  | (308) |  |  | (5,565) |  |  | (4,445) |
Strategic initiatives and other charges (2)** |  | (6,246) |  |  | (4,694) |  |  | (17,128) |  |  | (7,755) |
Highly inflationary accounting losses (primarily non-cash) (3) |  | (185) |  |  | (1,826) |  |  | (895) |  |  | (3,074) |
Stock-based compensation |  | (5,331) |  |  | (5,023) |  |  | (14,309) |  |  | (13,635) |
Non-service pension and postretirement expense (4) |  | (108) |  |  | (85) |  |  | (327) |  |  | (1,556) |
Depreciation and amortization * |  | (23,657) |  |  | (23,936) |  |  | (70,441) |  |  | (71,813) |
Interest expense, including RPA and factoring financing fees (5) |  | (14,005) |  |  | (12,136) |  |  | (40,539) |  |  | (35,944) |
Net loss attributable to noncontrolling interests |  | — |  |  | (67) |  |  | — |  |  | (125) |
(Loss) income before income taxes |  | (7,052) |  |  | 8,113 |  |  | (2,176) |  |  | 25,579 |
Income tax benefit (provision) |  | 8,829 |  |  | 558 |  |  | 10,677 |  |  | (4,136) |
Net income |  | $ | 1,777 |  |  | $ | 8,671 |  |  | $ | 8,501 |  |  | $ | 21,443 |
(1) Includes certain non-recurring items associated with recent acquisition and divestiture activities.
(2) Includes certain non-recurring costs associated with commercial, operational and cost-reduction initiatives, and costs associated with global ERP system integration efforts. Fiscal 2024 also includes legal costs related to an ongoing dispute with Tesla, Inc. ("Tesla"), which totaled $3,166 and $8,138 for the three and nine months ended June 30, 2024, respectively (see Note 17, "Legal Matter"). Fiscal 2023 includes loss recoveries totaling $2,154 for the nine months ended June 30, 2023, which were related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015.
(3) Represents exchange losses associated with highly inflationary accounting related to the Company's Turkish subsidiaries (see Note 2, "Basis of Presentation").
(4) 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.
(5) Includes fees for receivables sold under the RPA and factoring arrangements totaling $1,225 and $1,212 for the three months ended June 30, 2024 and 2023, respectively, and $3,638 and $2,758 for the nine months ended June 30, 2024 and 2023, respectively.
* Depreciation and amortization was $7,073 and $5,807 for the Memorialization segment, $5,796 and $5,815 for the Industrial Technologies segment, $9,702 and $11,164 for the SGK Brand Solutions segment, and $1,086 and $1,150 for Corporate and Non-Operating, for the three months ended June 30, 2024 and 2023, respectively. Depreciation and amortization was $20,400 and $17,092 for the Memorialization segment, $17,744 and $17,584 for the Industrial Technologies segment, $28,943 and $33,543 for the SGK Brand Solutions segment, and $3,354 and $3,594 for Corporate and Non-Operating, for the nine months ended June 30, 2024 and 2023, respectively. ** Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $1,108 and $270 for the Memorialization segment, $4,490 and $120 for the Industrial Technologies segment, $1,473 and $3,897 for the SGK Brand Solutions segment, and $1,441 and $715 for Corporate and Non-Operating, for the three months ended June 30, 2024 and 2023, respectively. Acquisition costs, ERP integration costs, and strategic initiatives and other charges were $2,204 and $981 for the Memorialization segment, $14,288 and $3,494 for the Industrial Technologies segment, $2,694 and $7,028 for the SGK Brand Solutions segment, and $3,507 and $697 for Corporate and Non-Operating, for the nine months ended June 30, 2024 and 2023, 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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