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v3.24.3

Operating Segment Data (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Summary of Net Sales of Operating Segments |
Net Revenues | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 139,218 |  |  | $ | 135,213 |  |  | $ | 387,393 |  |  | $ | 385,695 |
BOA | 45,607 |  |  | 37,281 |  |  | 142,670 |  |  | 113,390 |
Ergobaby | 21,755 |  |  | 23,218 |  |  | 71,530 |  |  | 71,785 |
Lugano | 118,584 |  |  | 78,735 |  |  | 320,981 |  |  | 203,571 |
PrimaLoft | 13,686 |  |  | 10,930 |  |  | 61,518 |  |  | 57,619 |
The Honey Pot Co. | 31,545 |  |  | — |  |  | 75,892 |  |  | — |
Velocity Outdoor | 28,809 |  |  | 54,469 |  |  | 77,419 |  |  | 126,348 |
Altor Solutions | 52,129 |  |  | 59,215 |  |  | 157,746 |  |  | 181,613 |
Arnold | 46,103 |  |  | 41,819 |  |  | 130,545 |  |  | 122,047 |
Sterno | 85,187 |  |  | 80,185 |  |  | 223,814 |  |  | 229,819 |
Total segment revenue | 582,623 |  |  | 521,065 |  |  | 1,649,508 |  |  | 1,491,887 |
Corporate | — |  |  | — |  |  | — |  |  | — |
Total consolidated revenues | $ | 582,623 |  |  | $ | 521,065 |  |  | $ | 1,649,508 |  |  | $ | 1,491,887 |
Summary of Profit (Loss) of Operating Segments |
Segment Profit (Loss) | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 14,937 |  |  | $ | 13,400 |  |  | $ | 33,803 |  |  | $ | 31,652 |
BOA | 10,364 |  |  | 6,684 |  |  | 36,490 |  |  | 22,685 |
Ergobaby | (935) |  |  | 1,288 |  |  | 629 |  |  | 4,202 |
Lugano | 47,975 |  |  | 27,963 |  |  | 120,490 |  |  | 64,872 |
PrimaLoft | (2,039) |  |  | (2,756) |  |  | 6,760 |  |  | 5,082 |
The Honey Pot Co. | 2,818 |  |  | — |  |  | (2,362) |  |  | — |
Velocity Outdoor | 1,486 |  |  | (28,581) |  |  | (12,873) |  |  | (33,467) |
Altor Solutions | 6,003 |  |  | 8,749 |  |  | 17,787 |  |  | 24,906 |
Arnold | 5,425 |  |  | 4,739 |  |  | 14,905 |  |  | 15,390 |
Sterno | 6,971 |  |  | 6,438 |  |  | 19,626 |  |  | 18,019 |
Total segment operating income | 93,005 |  |  | 37,924 |  |  | 235,255 |  |  | 153,341 |
Corporate (1) | (22,737) |  |  | (20,551) |  |  | (65,068) |  |  | (59,298) |
Total consolidated operating income | 70,268 |  |  | 17,373 |  |  | 170,187 |  |  | 94,043 |
Reconciliation of segment operating income (loss) to consolidated income from continuing operations before income taxes: |  |  |  |  |  |  |
Interest expense, net | (27,358) |  |  | (27,560) |  |  | (77,494) |  |  | (80,353) |
Amortization of debt issuance costs | (1,005) |  |  | (1,005) |  |  | (3,014) |  |  | (3,034) |
Loss on sale of Crosman | 388 |  |  | — |  |  | (24,218) |  |  | — |
Other income (expense), net | (78) |  |  | 1,045 |  |  | (4,327) |  |  | 2,100 |
Total consolidated income (loss) from continuing operations before income taxes | $ | 42,215 |  |  | $ | (10,147) |  |  | $ | 61,134 |  |  | $ | 12,756 |
(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 September 30, |  | Nine months ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
5.11 | $ | 5,543 |  |  | $ | 6,494 |  |  | $ | 16,977 |  |  | $ | 19,645 |
BOA | 5,203 |  |  | 5,875 |  |  | 15,651 |  |  | 17,267 |
Ergobaby | 2,028 |  |  | 2,009 |  |  | 6,353 |  |  | 6,038 |
Lugano | 2,352 |  |  | 1,913 |  |  | 6,708 |  |  | 6,522 |
PrimaLoft | 5,258 |  |  | 5,281 |  |  | 15,751 |  |  | 15,841 |
The Honey Pot Co. | 4,096 |  |  | — |  |  | 14,614 |  |  | — |
Velocity Outdoor | 1,392 |  |  | 3,267 |  |  | 6,665 |  |  | 9,846 |
Altor Solutions | 4,018 |  |  | 4,154 |  |  | 12,065 |  |  | 12,374 |
Arnold | 2,328 |  |  | 2,085 |  |  | 6,725 |  |  | 6,126 |
Sterno | 4,946 |  |  | 4,872 |  |  | 14,807 |  |  | 14,678 |
Total | 37,164 |  |  | 35,950 |  |  | 116,316 |  |  | 108,337 |
Reconciliation of segment to consolidated total: |  |  |  |  |  |  |
Amortization of debt issuance costs | 1,005 |  |  | 1,005 |  |  | 3,014 |  |  | 3,034 |
Consolidated total | $ | 38,169 |  |  | $ | 36,955 |  |  | $ | 119,330 |  |  | $ | 111,371 |
| Accounts Receivable |  | Identifiable Assets
| September 30, |  | December 31, |  | September 30, |  | December 31,
(in thousands) | 2024 |  | 2023 |  | 2024 (1) |  | 2023 (1)
5.11 | $ | 60,522 |  |  | $ | 50,452 |  |  | $ | 404,240 |  |  | $ | 398,050 |
BOA | 1,692 |  |  | 1,368 |  |  | 228,741 |  |  | 243,243 |
Ergobaby | 12,261 |  |  | 12,018 |  |  | 70,325 |  |  | 73,660 |
Lugano | 184,222 |  |  | 124,776 |  |  | 714,975 |  |  | 510,484 |
PrimaLoft | 987 |  |  | 1,381 |  |  | 275,628 |  |  | 288,212 |
The Honey Pot Co. | 19,365 |  |  | — |  |  | 286,604 |  |  | — |
Velocity Outdoor | 21,416 |  |  | 24,458 |  |  | 98,027 |  |  | 207,609 |
Altor Solutions | 35,776 |  |  | 35,232 |  |  | 168,742 |  |  | 186,683 |
Arnold | 30,211 |  |  | 25,977 |  |  | 125,885 |  |  | 110,883 |
Sterno | 54,559 |  |  | 51,740 |  |  | 155,649 |  |  | 174,166 |
Sales allowance accounts | (8,323) |  |  | (9,161) |  |  | — |  |  | — |
Total | 412,688 |  |  | 318,241 |  |  | 2,528,816 |  |  | 2,192,990 |
Reconciliation of segment to consolidated totals: |  |  |  |  |  |  |
Corporate and other identifiable assets | — |  |  | — |  |  | 15,826 |  |  | 404,322 |
Total | $ | 412,688 |  |  | $ | 318,241 |  |  | $ | 2,544,642 |  |  | $ | 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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