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Unaudited Quarterly Financial Data | 3 Months Ended
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Mar. 31, 2023
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Data | Unaudited Quarterly Financial Data The following table presents the unaudited quarterly financial data. This information has been prepared on a basis consistent with that of the audited consolidated financial statements and all necessary material adjustments, consisting of normal recurring accruals and adjustments, have been included to present fairly the unaudited quarterly financial data. The quarterly results of operations for these periods are not necessarily indicative of future results of operations. Typically, the first quarter of each fiscal year has the lower results than the remainder of the year, representing the Company's weakest quarter due to seasonality at our businesses. The per share calculations for each of the quarters are based on the weighted average number of shares for each period using the two class method, which requires companies to allocate participating securities that have rights to earnings that otherwise would have been available only to common shareholders as a separate class of securities in calculating earnings per share; therefore, the sum of the quarters will not equal to the full year per share amount.
(in thousands) | December 31, 2023 (1) (2) (3) |  | September 30, 2023 (1) (2) |  | June 30, 2023 (1) |  | March 31, 2023 (1)
Total revenues | $ | 566,989 |  |  | $ | 521,065 |  |  | $ | 486,889 |  |  | $ | 483,933 |
Gross profit | 246,307 |  |  | 225,311 |  |  | 216,641 |  |  | 205,064 |
Operating income (loss) | (3,974) |  |  | 17,373 |  |  | 42,113 |  |  | 34,557 |
Income (loss) from continuing operations | (38,970) |  |  | (19,705) |  |  | 6,553 |  |  | (2,559) |
Income from discontinued operations | (3,123) |  |  | 8,277 |  |  | 2,821 |  |  | 9,967 |
Gain on sale of discontinued operations, net of tax | 179,530 |  |  | 1,274 |  |  | 4,232 |  |  | 97,989 |
Net income (loss) attributable to Holdings | $ | 137,437 |  |  | $ | (10,154) |  |  | $ | 13,606 |  |  | $ | 105,397 |
Basic and fully diluted income (loss) per share attributable to Holdings: |  |  |  |  |  |  |
Continuing operations | $ | (0.74) |  |  | $ | (0.45) |  |  | $ | (0.44) |  |  | $ | (0.18) |
Discontinued operations | 2.44 |  |  | 0.12 |  |  | 0.09 |  |  | 1.47 |
Basic and fully diluted income (loss) per share attributable to Holdings | $ | 1.70 |  |  | $ | (0.33) |  |  | $ | (0.35) |  |  | $ | 1.29 |
(1) The Company sold its ACI operating segment in the first quarter of 2023, recording a gain on sale of $98.0 million, net of an income tax provision of $6.8 million. The Company recorded an additional gain on sale of $2.1 million in the second quarter of 2023 related to the working capital settlement, and in the third quarter of 2023 adjusted the income tax provision to $3.4 million, reflecting the loss at the LLC during the year ended December 31, 2023. All prior periods are presented as discontinued operations. (2) The Company recorded goodwill impairment of $32.6 million in the third quarter of 2023 and $56.8 million in the fourth quarter of 2023. Refer to "Note H - Goodwill and Intangible Assets" for further description. (3) The Company sold its Marucci operating segment in the fourth quarter of 2023, recording a pre-tax gain on sale of $241.4 million. We recorded an income tax provision related to the gain on sale of both Marucci and ACI of $65.3 million, which includes a uncertain tax position reserve of $27.9 million. Refer to Note L - Income Taxes for a description of the reserve. All prior periods are presented as discontinued operations.
(in thousands) | December 31, 2022 (1)(2) |  | September 30, 2022 (1) |  | June 30, 2022 |  | March 31, 2022
Total revenues | $ | 529,682 |  |  | $ | 533,066 |  |  | $ | 487,961 |  |  | $ | 458,421 |
Gross profit | 201,748 |  |  | 204,690 |  |  | 199,145 |  |  | 177,469 |
Operating income | 6,291 |  |  | 36,083 |  |  | 51,747 |  |  | 36,717 |
Income (loss) from continuing operations | (24,013) |  |  | (12,348) |  |  | 23,352 |  |  | 6,300 |
Income from discontinued operations | 9,545 |  |  | 9,095 |  |  | 3,594 |  |  | 11,469 |
Gain (loss) on sale of discontinued operations, net of tax | 2,500 |  |  | 1,479 |  |  | (579) |  |  | 5,993 |
Net income (loss) attributable to Holdings | $ | (11,968) |  |  | $ | (1,774) |  |  | $ | 26,367 |  |  | $ | 23,762 |
Basic and fully diluted income (loss) per share attributable to Holdings: |  |  |  |  |  |  |
Continuing operations | $ | (0.49) |  |  | $ | (0.34) |  |  | $ | 0.15 |  |  | $ | (0.09) |
Discontinued operations | 0.15 |  |  | 0.13 |  |  | 0.02 |  |  | 0.23 |
Basic and fully diluted income (loss) per share attributable to Holdings | $ | (0.34) |  |  | $ | (0.21) |  |  | $ | 0.17 |  |  | $ | 0.14 |

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