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v3.23.2

Operating Segment Data (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Summary of Net Sales of Operating Segments |
Net Revenues | Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 126,030 |  |  | $ | 120,048 |  |  | $ | 250,482 |  |  | $ | 224,071 |
BOA | 38,123 |  |  | 59,386 |  |  | 76,109 |  |  | 116,196 |
Ergobaby | 26,149 |  |  | 26,506 |  |  | 48,567 |  |  | 46,716 |
Lugano | 60,949 |  |  | 39,065 |  |  | 124,836 |  |  | 86,084 |
Marucci | 37,270 |  |  | 27,636 |  |  | 95,565 |  |  | 79,728 |
PrimaLoft | 22,160 |  |  | — |  |  | 46,689 |  |  | — |
Velocity Outdoor | 37,839 |  |  | 53,846 |  |  | 71,879 |  |  | 105,292 |
Altor Solutions | 60,886 |  |  | 66,144 |  |  | 122,398 |  |  | 129,972 |
Arnold | 40,138 |  |  | 38,777 |  |  | 80,228 |  |  | 76,942 |
Sterno | 74,615 |  |  | 84,189 |  |  | 149,634 |  |  | 161,109 |
Total segment revenue | 524,159 |  |  | 515,597 |  |  | 1,066,387 |  |  | 1,026,110 |
Corporate | — |  |  | — |  |  | — |  |  | — |
Total consolidated revenues | $ | 524,159 |  |  | $ | 515,597 |  |  | $ | 1,066,387 |  |  | $ | 1,026,110 |
Summary of Profit (Loss) of Operating Segments |
Segment Profit (Loss) | Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 10,582 |  |  | $ | 12,305 |  |  | $ | 18,252 |  |  | $ | 18,210 |
BOA | 8,050 |  |  | 18,451 |  |  | 16,001 |  |  | 37,262 |
Ergobaby | 2,526 |  |  | 3,549 |  |  | 2,914 |  |  | 3,273 |
Lugano | 17,133 |  |  | 9,644 |  |  | 36,909 |  |  | 23,250 |
Marucci | 2,962 |  |  | (1,436) |  |  | 17,302 |  |  | 6,449 |
PrimaLoft | 2,817 |  |  | — |  |  | 7,838 |  |  | — |
Velocity Outdoor | (1,610) |  |  | 5,429 |  |  | (4,886) |  |  | 8,496 |
Altor Solutions | 9,223 |  |  | 5,908 |  |  | 16,157 |  |  | 11,742 |
Arnold | 5,613 |  |  | 5,325 |  |  | 10,651 |  |  | 8,613 |
Sterno | 7,088 |  |  | 7,954 |  |  | 11,581 |  |  | 10,988 |
Total segment operating income | 64,384 |  |  | 67,129 |  |  | 132,719 |  |  | 128,283 |
Corporate | (19,309) |  |  | (16,818) |  |  | (38,747) |  |  | (33,370) |
Total consolidated operating income | 45,075 |  |  | 50,311 |  |  | 93,972 |  |  | 94,913 |
Reconciliation of segment operating income (loss) to consolidated income from continuing operations before income taxes: |  |  |  |  |  |  |
Interest expense, net | (26,615) |  |  | (17,519) |  |  | (52,795) |  |  | (34,938) |
Amortization of debt issuance costs | (1,024) |  |  | (865) |  |  | (2,029) |  |  | (1,731) |
Other income (expense), net | (101) |  |  | 737 |  |  | 1,026 |  |  | 2,773 |
Total consolidated income from continuing operations before income taxes | $ | 17,335 |  |  | $ | 32,664 |  |  | $ | 40,174 |  |  | $ | 61,017 |
Summary of Goodwill and Identifiable Assets of Operating Segments |
Depreciation and Amortization Expense | Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 6,774 |  |  | $ | 5,535 |  |  | $ | 13,151 |  |  | $ | 10,947 |
BOA | 5,756 |  |  | 5,390 |  |  | 11,392 |  |  | 10,644 |
Ergobaby | 2,015 |  |  | 1,995 |  |  | 4,029 |  |  | 3,990 |
Lugano | 1,891 |  |  | 2,945 |  |  | 4,609 |  |  | 5,114 |
Marucci | 3,358 |  |  | 2,827 |  |  | 6,372 |  |  | 6,979 |
PrimaLoft | 5,282 |  |  | — |  |  | 10,560 |  |  | — |
Velocity Outdoor | 3,295 |  |  | 3,218 |  |  | 6,579 |  |  | 6,413 |
Altor Solutions | 4,116 |  |  | 4,079 |  |  | 8,220 |  |  | 8,007 |
Arnold | 2,063 |  |  | 1,862 |  |  | 4,041 |  |  | 4,047 |
Sterno | 4,892 |  |  | 4,975 |  |  | 9,806 |  |  | 9,978 |
Total | 39,442 |  |  | 32,826 |  |  | 78,759 |  |  | 66,119 |
Reconciliation of segment to consolidated total: |  |  |  |  |  |  |
Amortization of debt issuance costs | 1,024 |  |  | 865 |  |  | 2,029 |  |  | 1,731 |
Consolidated total | $ | 40,466 |  |  | $ | 33,691 |  |  | $ | 80,788 |  |  | $ | 67,850 |
| Accounts Receivable |  | Identifiable Assets
| June 30, |  | December 31, |  | June 30, |  | December 31,
(in thousands) | 2023 |  | 2022 |  | 2023 (1) |  | 2022 (1)
5.11 | $ | 43,703 |  |  | $ | 53,589 |  |  | $ | 465,469 |  |  | $ | 450,537 |
BOA | 1,939 |  |  | 1,630 |  |  | 236,165 |  |  | 240,359 |
Ergobaby | 15,365 |  |  | 11,213 |  |  | 77,201 |  |  | 84,657 |
Lugano | 92,100 |  |  | 85,911 |  |  | 425,528 |  |  | 327,795 |
Marucci | 15,588 |  |  | 35,185 |  |  | 189,148 |  |  | 181,528 |
PrimaLoft | 1,713 |  |  | 2,486 |  |  | 300,711 |  |  | 310,914 |
Velocity Outdoor | 29,158 |  |  | 33,159 |  |  | 225,452 |  |  | 224,356 |
Altor Solutions | 41,955 |  |  | 42,368 |  |  | 189,857 |  |  | 198,943 |
Arnold | 22,291 |  |  | 23,666 |  |  | 107,706 |  |  | 105,196 |
Sterno | 44,368 |  |  | 54,400 |  |  | 189,371 |  |  | 210,780 |
Sales allowance accounts | (11,889) |  |  | (12,211) |  |  | — |  |  | — |
Total | 296,291 |  |  | 331,396 |  |  | 2,406,608 |  |  | 2,335,065 |
Reconciliation of segment to consolidated totals: |  |  |  |  |  |  |
Corporate and other identifiable assets | — |  |  | — |  |  | 19,843 |  |  | 18,471 |
Total | $ | 296,291 |  |  | $ | 331,396 |  |  | $ | 2,426,451 |  |  | $ | 2,451,509 |
(1)Does not include accounts receivable balances per schedule above or goodwill balances - refer to Note G - "Goodwill and Other Intangible Assets".

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