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v3.23.3

Operating Segment Data (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Summary of Net Sales of Operating Segments |
Net Revenues | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 135,213 |  |  | $ | 126,537 |  |  | $ | 385,695 |  |  | $ | 350,608 |
BOA | 37,281 |  |  | 50,019 |  |  | 113,390 |  |  | 166,215 |
Ergobaby | 23,218 |  |  | 21,540 |  |  | 71,785 |  |  | 68,256 |
Lugano | 78,735 |  |  | 51,145 |  |  | 203,571 |  |  | 137,229 |
Marucci | 48,500 |  |  | 42,753 |  |  | 144,065 |  |  | 122,481 |
PrimaLoft | 10,930 |  |  | 10,712 |  |  | 57,619 |  |  | 10,712 |
Velocity Outdoor | 54,469 |  |  | 75,482 |  |  | 126,348 |  |  | 180,774 |
Altor Solutions | 59,215 |  |  | 69,618 |  |  | 181,613 |  |  | 199,590 |
Arnold | 41,819 |  |  | 39,377 |  |  | 122,047 |  |  | 116,319 |
Sterno | 80,185 |  |  | 88,636 |  |  | 229,819 |  |  | 249,745 |
Total segment revenue | 569,565 |  |  | 575,819 |  |  | 1,635,952 |  |  | 1,601,929 |
Corporate | — |  |  | — |  |  | — |  |  | — |
Total consolidated revenues | $ | 569,565 |  |  | $ | 575,819 |  |  | $ | 1,635,952 |  |  | $ | 1,601,929 |
Summary of Profit (Loss) of Operating Segments |
Segment Profit (Loss) | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 13,400 |  |  | $ | 12,091 |  |  | $ | 31,652 |  |  | $ | 30,301 |
BOA | 6,684 |  |  | 12,975 |  |  | 22,685 |  |  | 50,237 |
Ergobaby | 1,288 |  |  | 593 |  |  | 4,202 |  |  | 3,866 |
Lugano | 27,963 |  |  | 12,635 |  |  | 64,872 |  |  | 35,885 |
Marucci | 11,062 |  |  | 7,692 |  |  | 28,364 |  |  | 14,141 |
PrimaLoft | (2,756) |  |  | (8,469) |  |  | 5,082 |  |  | (8,469) |
Velocity Outdoor | (28,581) |  |  | 10,225 |  |  | (33,467) |  |  | 18,721 |
Altor Solutions | 8,749 |  |  | 6,561 |  |  | 24,906 |  |  | 18,303 |
Arnold | 4,739 |  |  | 5,462 |  |  | 15,390 |  |  | 14,075 |
Sterno | 6,438 |  |  | 2,795 |  |  | 18,019 |  |  | 13,783 |
Total segment operating income | 48,986 |  |  | 62,560 |  |  | 181,705 |  |  | 190,843 |
Corporate | (20,551) |  |  | (18,785) |  |  | (59,298) |  |  | (52,155) |
Total consolidated operating income | 28,435 |  |  | 43,775 |  |  | 122,407 |  |  | 138,688 |
Reconciliation of segment operating income (loss) to consolidated income from continuing operations before income taxes: |  |  |  |  |  |  |
Interest expense, net | (27,560) |  |  | (22,799) |  |  | (80,355) |  |  | (57,737) |
Amortization of debt issuance costs | (1,005) |  |  | (1,004) |  |  | (3,034) |  |  | (2,735) |
Loss on debt extinguishment | — |  |  | (534) |  |  | — |  |  | (534) |
Other income (expense), net | 1,043 |  |  | (1,917) |  |  | 2,069 |  |  | 856 |
Total consolidated income from continuing operations before income taxes | $ | 913 |  |  | $ | 17,521 |  |  | $ | 41,087 |  |  | $ | 78,538 |
Summary of Goodwill and Identifiable Assets of Operating Segments |
Depreciation and Amortization Expense | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
5.11 | $ | 6,494 |  |  | $ | 5,701 |  |  | $ | 19,645 |  |  | $ | 16,648 |
BOA | 5,875 |  |  | 5,517 |  |  | 17,267 |  |  | 16,161 |
Ergobaby | 2,009 |  |  | 2,008 |  |  | 6,038 |  |  | 5,998 |
Lugano | 1,913 |  |  | 2,976 |  |  | 6,522 |  |  | 8,090 |
Marucci | 3,396 |  |  | 2,467 |  |  | 9,768 |  |  | 9,447 |
PrimaLoft | 5,283 |  |  | 4,107 |  |  | 15,843 |  |  | 4,107 |
Velocity Outdoor | 3,267 |  |  | 3,327 |  |  | 9,846 |  |  | 9,740 |
Altor Solutions | 4,154 |  |  | 4,062 |  |  | 12,374 |  |  | 12,069 |
Arnold | 2,085 |  |  | 1,895 |  |  | 6,126 |  |  | 5,942 |
Sterno | 4,872 |  |  | 4,956 |  |  | 14,678 |  |  | 14,934 |
Total | 39,348 |  |  | 37,016 |  |  | 118,107 |  |  | 103,136 |
Reconciliation of segment to consolidated total: |  |  |  |  |  |  |
Amortization of debt issuance costs | 1,005 |  |  | 1,004 |  |  | 3,034 |  |  | 2,735 |
Consolidated total | $ | 40,353 |  |  | $ | 38,020 |  |  | $ | 121,141 |  |  | $ | 105,871 |
| Accounts Receivable |  | Identifiable Assets
| September 30, |  | December 31, |  | September 30, |  | December 31,
(in thousands) | 2023 |  | 2022 |  | 2023 (1) |  | 2022 (1)
5.11 | $ | 52,661 |  |  | $ | 53,589 |  |  | $ | 436,032 |  |  | $ | 450,537 |
BOA | 1,966 |  |  | 1,630 |  |  | 230,416 |  |  | 240,359 |
Ergobaby | 12,581 |  |  | 11,213 |  |  | 75,594 |  |  | 84,657 |
Lugano | 105,094 |  |  | 85,911 |  |  | 466,925 |  |  | 327,795 |
Marucci | 30,373 |  |  | 35,185 |  |  | 188,362 |  |  | 181,528 |
PrimaLoft | 1,377 |  |  | 2,486 |  |  | 298,806 |  |  | 310,914 |
Velocity Outdoor | 36,028 |  |  | 33,159 |  |  | 223,427 |  |  | 224,356 |
Altor Solutions | 43,133 |  |  | 42,368 |  |  | 186,749 |  |  | 198,943 |
Arnold | 26,973 |  |  | 23,666 |  |  | 107,797 |  |  | 105,196 |
Sterno | 51,426 |  |  | 54,400 |  |  | 186,514 |  |  | 210,780 |
Sales allowance accounts | (11,773) |  |  | (12,211) |  |  | — |  |  | — |
Total | 349,839 |  |  | 331,396 |  |  | 2,400,622 |  |  | 2,335,065 |
Reconciliation of segment to consolidated totals: |  |  |  |  |  |  |
Corporate and other identifiable assets | — |  |  | — |  |  | 18,882 |  |  | 18,471 |
Total | $ | 349,839 |  |  | $ | 331,396 |  |  | $ | 2,419,504 |  |  | $ | 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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