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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The table below presents information about certain operating results, separated by market segments, for the three months ended March 31, 2025 and 2024 (amounts in thousands):
| Three months ended March 31, 2025
| Agriculture |  | Earthmoving/Construction |  | Consumer |  | Corporate & Unallocated |  | Total
Net sales | $ | 197,746 |  |  | $ | 143,290 |  |  | $ | 149,672 |  |  | $ | — |  |  | $ | 490,708 |
Cost of sales | 173,259 |  |  | 128,397 |  |  | 120,408 |  |  | — |  |  | 422,064 |
Gross profit | $ | 24,487 |  |  | $ | 14,893 |  |  | $ | 29,264 |  |  | $ | — |  |  | $ | 68,644 |
Selling, general and administrative expenses | 12,074 |  |  | 11,021 |  |  | 19,087 |  |  | 7,673 |  |  | 49,855 |
Research and development expenses | 1,354 |  |  | 1,849 |  |  | 888 |  |  | 453 |  |  | 4,544 |
Royalty expense | 1,617 |  |  | 347 |  |  | 482 |  |  | — |  |  | 2,446 |
Segment profit (loss) | $ | 9,442 |  |  | $ | 1,676 |  |  | $ | 8,807 |  |  | $ | (8,126) |  |  | $ | 11,799 |
Interest expense |  |  |  |  |  |  | (9,535) |  |  | (9,535) |
Interest income |  |  |  |  |  |  | 2,239 |  |  | 2,239 |
Foreign exchange loss |  |  |  |  |  |  | (1,385) |  |  | (1,385) |
Other income |  |  |  |  |  |  | 1,134 |  |  | 1,134 |
(Loss) income before income taxes |  |  |  |  |  |  | $ | (15,673) |  |  | $ | 4,252 |
| Three months ended March 31, 2024
| Agriculture |  | Earthmoving/Construction |  | Consumer |  | Corporate & Unallocated |  | Total
Net sales | $ | 239,673 |  |  | $ | 165,208 |  |  | $ | 77,328 |  |  | $ | — |  |  | $ | 482,209 |
Cost of sales | 199,054 |  |  | 142,231 |  |  | 63,554 |  |  | — |  |  | 404,839 |
Gross profit | $ | 40,619 |  |  | $ | 22,977 |  |  | $ | 13,774 |  |  | $ | — |  |  | $ | 77,370 |
Selling, general and administrative expenses | 13,394 |  |  | 11,956 |  |  | 7,803 |  |  | 6,267 |  |  | 39,420 |
Acquisition related expenses | — |  |  | — |  |  | — |  |  | 6,196 |  |  | 6,196 |
Research and development expenses | 1,230 |  |  | 1,666 |  |  | 336 |  |  | 422 |  |  | 3,654 |
Royalty expense | 1,985 |  |  | 521 |  |  | 522 |  |  | — |  |  | 3,028 |
Segment profit (loss) | $ | 24,010 |  |  | $ | 8,834 |  |  | $ | 5,113 |  |  | $ | (12,885) |  |  | $ | 25,072 |
Interest expense |  |  |  |  |  |  | (8,367) |  |  | (8,367) |
Interest income |  |  |  |  |  |  | 2,875 |  |  | 2,875 |
Foreign exchange loss |  |  |  |  |  |  | (275) |  |  | (275) |
Other income |  |  |  |  |  |  | 405 |  |  | 405 |
(Loss) income before income taxes |  |  |  |  |  |  | $ | (18,247) |  |  | $ | 19,710 |
Schedule of Reconciliation of Revenue from Segments to Consolidated | The table below presents net sales by products and reportable segments for the three months ended March 31, 2025 and 2024 (amounts in thousands):
| Agricultural Segment |  | Earthmoving/Construction Segment |  | Consumer Segment |  | Total
Three months ended March 31, 2025 |  |  |  |  |  |  |
Wheels and Tires [including assemblies] | $ | 188,367 |  |  | $ | 54,413 |  |  | $ | 142,175 |  |  | $ | 384,955 |
Undercarriage systems and components | 9,379 |  |  | 88,877 |  |  | 7,497 |  |  | 105,753 |
Total | $ | 197,746 |  |  | $ | 143,290 |  |  | $ | 149,672 |  |  | $ | 490,708 |
| Agricultural Segment |  | Earthmoving/Construction Segment |  | Consumer Segment |  | Total
Three months ended March 31, 2024 |  |  |  |  |  |  |
Wheels and Tires [including assemblies] | $ | 229,034 |  |  | $ | 66,245 |  |  | $ | 71,354 |  |  | $ | 366,633 |
Undercarriage systems and components | 10,639 |  |  | 98,963 |  |  | 5,974 |  |  | 115,576 |
Total | $ | 239,673 |  |  | $ | 165,208 |  |  | $ | 77,328 |  |  | $ | 482,209 |
Segment, Reconciliation of Other Items from Segments to Consolidated | Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):
| Agricultural Segment |  | Earthmoving/Construction Segment |  | Consumer Segment |  | Corporate & Unallocated |  | Total
Three months ended March 31, 2025 | $ | 6,158 |  |  | $ | 4,463 |  |  | $ | 4,661 |  |  | $ | 589 |  |  | $ | 15,871 |
Three months ended March 31, 2024 | 5,708 |  |  | 3,935 |  |  | 1,842 |  |  | 516 |  |  | 12,001 |

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- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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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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