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v3.24.2

Operating Segment Data (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Summary of Net Sales of Operating Segments |
Net Revenues | Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 123,201 |  |  | $ | 126,030 |  |  | $ | 248,175 |  |  | $ | 250,482 |
BOA | 54,160 |  |  | 38,123 |  |  | 97,063 |  |  | 76,109 |
Ergobaby | 28,557 |  |  | 26,149 |  |  | 49,775 |  |  | 48,567 |
Lugano | 99,358 |  |  | 60,949 |  |  | 202,397 |  |  | 124,836 |
PrimaLoft | 25,291 |  |  | 22,160 |  |  | 47,832 |  |  | 46,689 |
The Honey Pot Co. | 24,182 |  |  | — |  |  | 44,347 |  |  | — |
Velocity Outdoor | 18,711 |  |  | 37,839 |  |  | 48,610 |  |  | 71,879 |
Altor Solutions | 52,213 |  |  | 60,886 |  |  | 105,617 |  |  | 122,398 |
Arnold | 43,155 |  |  | 40,138 |  |  | 84,442 |  |  | 80,228 |
Sterno | 73,767 |  |  | 74,615 |  |  | 138,627 |  |  | 149,634 |
Total segment revenue | 542,595 |  |  | 486,889 |  |  | 1,066,885 |  |  | 970,822 |
Corporate | — |  |  | — |  |  | — |  |  | — |
Total consolidated revenues | $ | 542,595 |  |  | $ | 486,889 |  |  | $ | 1,066,885 |  |  | $ | 970,822 |
Summary of Profit (Loss) of Operating Segments |
Segment Profit (Loss) | Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 10,699 |  |  | $ | 10,582 |  |  | $ | 18,866 |  |  | $ | 18,252 |
BOA | 16,470 |  |  | 8,050 |  |  | 26,126 |  |  | 16,001 |
Ergobaby | 2,562 |  |  | 2,526 |  |  | 1,564 |  |  | 2,914 |
Lugano | 33,198 |  |  | 17,133 |  |  | 72,515 |  |  | 36,909 |
PrimaLoft | 5,499 |  |  | 2,817 |  |  | 8,799 |  |  | 7,838 |
The Honey Pot Co. | (2,530) |  |  | — |  |  | (5,180) |  |  | — |
Velocity Outdoor | (1,935) |  |  | (1,610) |  |  | (14,359) |  |  | (4,886) |
Altor Solutions | 5,156 |  |  | 9,223 |  |  | 11,784 |  |  | 16,157 |
Arnold | 5,308 |  |  | 5,613 |  |  | 9,480 |  |  | 10,651 |
Sterno | 7,870 |  |  | 7,088 |  |  | 12,655 |  |  | 11,581 |
Total segment operating income | 82,297 |  |  | 61,422 |  |  | 142,250 |  |  | 115,417 |
Corporate (1) | (20,954) |  |  | (19,309) |  |  | (42,331) |  |  | (38,747) |
Total consolidated operating income | 61,343 |  |  | 42,113 |  |  | 99,919 |  |  | 76,670 |
Reconciliation of segment operating income (loss) to consolidated income from continuing operations before income taxes: |  |  |  |  |  |  |
Interest expense, net | (26,561) |  |  | (26,613) |  |  | (50,136) |  |  | (52,793) |
Amortization of debt issuance costs | (1,004) |  |  | (1,024) |  |  | (2,009) |  |  | (2,029) |
Loss on sale of Crosman | (24,606) |  |  | — |  |  | (24,606) |  |  | — |
Other income (expense), net | (1,375) |  |  | (105) |  |  | (4,249) |  |  | 1,055 |
Total consolidated income from continuing operations before income taxes | $ | 7,797 |  |  | $ | 14,371 |  |  | $ | 18,919 |  |  | $ | 22,903 |
(1) Corporate operating loss is comprised of management fees paid to CGM and corporate overhead expenses.
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) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 5,635 |  |  | $ | 6,774 |  |  | $ | 11,434 |  |  | $ | 13,151 |
BOA | 5,211 |  |  | 5,756 |  |  | 10,448 |  |  | 11,392 |
Ergobaby | 2,165 |  |  | 2,015 |  |  | 4,325 |  |  | 4,029 |
Lugano | 2,241 |  |  | 1,891 |  |  | 4,356 |  |  | 4,609 |
PrimaLoft | 5,245 |  |  | 5,282 |  |  | 10,493 |  |  | 10,560 |
The Honey Pot Co. | 5,431 |  |  | — |  |  | 10,518 |  |  | — |
Velocity Outdoor | 2,002 |  |  | 3,295 |  |  | 5,273 |  |  | 6,579 |
Altor Solutions | 4,024 |  |  | 4,116 |  |  | 8,047 |  |  | 8,220 |
Arnold | 2,252 |  |  | 2,063 |  |  | 4,397 |  |  | 4,041 |
Sterno | 4,940 |  |  | 4,892 |  |  | 9,861 |  |  | 9,806 |
Total | 39,146 |  |  | 36,084 |  |  | 79,152 |  |  | 72,387 |
Reconciliation of segment to consolidated total: |  |  |  |  |  |  |
Amortization of debt issuance costs | 1,004 |  |  | 1,024 |  |  | 2,009 |  |  | 2,029 |
Consolidated total | $ | 40,150 |  |  | $ | 37,108 |  |  | $ | 81,161 |  |  | $ | 74,416 |
| Accounts Receivable |  | Identifiable Assets
| June 30, |  | December 31, |  | June 30, |  | December 31,
(in thousands) | 2024 |  | 2023 |  | 2024 (1) |  | 2023 (1)
5.11 | $ | 52,511 |  |  | $ | 50,452 |  |  | $ | 394,506 |  |  | $ | 398,050 |
BOA | 4,155 |  |  | 1,368 |  |  | 235,891 |  |  | 243,243 |
Ergobaby | 15,975 |  |  | 12,018 |  |  | 70,505 |  |  | 73,660 |
Lugano | 157,621 |  |  | 124,776 |  |  | 656,916 |  |  | 510,484 |
PrimaLoft | 2,020 |  |  | 1,381 |  |  | 280,818 |  |  | 288,212 |
The Honey Pot Co. | 14,745 |  |  | — |  |  | 294,118 |  |  | — |
Velocity Outdoor | 13,757 |  |  | 24,458 |  |  | 108,711 |  |  | 207,609 |
Altor Solutions | 35,317 |  |  | 35,232 |  |  | 169,107 |  |  | 186,683 |
Arnold | 28,563 |  |  | 25,977 |  |  | 118,747 |  |  | 110,883 |
Sterno | 41,976 |  |  | 51,740 |  |  | 161,503 |  |  | 174,166 |
Sales allowance accounts | (8,110) |  |  | (9,161) |  |  | — |  |  | — |
Total | 358,530 |  |  | 318,241 |  |  | 2,490,822 |  |  | 2,192,990 |
Reconciliation of segment to consolidated totals: |  |  |  |  |  |  |
Corporate and other identifiable assets | — |  |  | — |  |  | 5,157 |  |  | 404,322 |
Total | $ | 358,530 |  |  | $ | 318,241 |  |  | $ | 2,495,979 |  |  | $ | 2,597,312 |
(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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