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v3.22.2.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Sep. 30, 2022
Accounting Policies [Abstract] |
Schedule of Inventories | Inventories at the end of the respective fiscal years consisted of the following:
| September 30 2022 |  | October 1 2021
Raw materials | $ | 166,443 |  |  | $ | 110,974 |
Work in process | 230 |  |  | 116 |
Finished goods | 81,976 |  |  | 55,525 |
| $ | 248,649 |  |  | $ | 166,615 |
Schedule of Property and Equipment, Useful Life | Depreciation of property, plant and equipment is determined by straight-line methods over the following estimated useful lives:
Property improvements | 5-20 years
Buildings and improvements | 20-40 years
Furniture and fixtures, equipment and computer software | 3-10 years
Schedule of Property, Plant and Equipment | Property, plant and equipment at the end of the respective years consisted of the following:
| 2022 |  | 2021
Property improvements | $ | 586 |  |  | $ | 589 |
Buildings and improvements | 33,930 |  |  | 26,769 |
Furniture and fixtures, equipment and computer software | 226,452 |  |  | 208,043 |
| 260,968 |  |  | 235,401 |
Less accumulated depreciation | 171,843 |  |  | 163,891 |
| $ | 89,125 |  |  | $ | 71,510 |
Schedule of Goodwill | The changes in the carrying amount and the composition of the Company's goodwill for fiscal 2022 and 2021 were as follows:
|  |  | Fishing |  | Camping |  | Watercraft |  | Diving |  | Total
Balance at October 2, 2020 |  |  |  |  |  |  |  |  |  |
| Goodwill |  | $ | 17,413 |  |  | $ | 7,038 |  |  | $ | 6,242 |  |  | $ | 33,078 |  |  | $ | 63,771 |
| Accumulated impairment losses |  | (6,229) |  |  | (7,038) |  |  | (6,242) |  |  | (33,078) |  |  | (52,587) |
|  |  | 11,184 |  |  | — |  |  | — |  |  | — |  |  | 11,184 |
| Currency translation |  | 37 |  |  | — |  |  | — |  |  | — |  |  | 37 |
Balance at October 1, 2021 |  |  |  |  |  |  |  |  |  |
| Goodwill |  | 17,450 |  |  | 7,038 |  |  | 6,242 |  |  | 33,078 |  |  | 63,808 |
| Accumulated impairment losses |  | (6,229) |  |  | (7,038) |  |  | (6,242) |  |  | (33,078) |  |  | (52,587) |
|  |  | 11,221 |  |  | — |  |  | — |  |  | — |  |  | 11,221 |
| Currency translation |  | (61) |  |  | — |  |  | — |  |  | — |  |  | (61) |
Balance at September 30, 2022 |  |  |  |  |  |  |  |  |  |
| Goodwill |  | 17,389 |  |  | 7,038 |  |  | 6,242 |  |  | 33,078 |  |  | 63,747 |
| Accumulated impairment losses |  | (6,229) |  |  | (7,038) |  |  | (6,242) |  |  | (33,078) |  |  | (52,587) |
|  |  | $ | 11,160 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11,160 |
Schedule of Intangible Assets | Intangible assets at the end of the last two years consisted of the following:
| 2022 |  | 2021
| Gross Intangible |  | Accumulated Amortization |  | Net |  | Gross Intangible |  | Accumulated Amortization |  | Net
Amortized other intangible assets: |  |  |  |  |  |  |  |  |  |  |
Patents and trademarks | $ | 3,959 |  |  | $ | (3,956) |  |  | $ | 3 |  |  | $ | 4,207 |  |  | $ | (4,203) |  |  | $ | 4 |
Other amortizable intangibles | 12,137 |  |  | (10,793) |  |  | 1,344 |  |  | 11,234 |  |  | (9,630) |  |  | 1,604 |
Non-amortized trademarks | 7,025 |  |  | — |  |  | 7,025 |  |  | 7,025 |  |  | — |  |  | 7,025 |
| $ | 23,121 |  |  | $ | (14,749) |  |  | $ | 8,372 |  |  | $ | 22,466 |  |  | $ | (13,833) |  |  | $ | 8,633 |
Schedule of Warranty Activity | The following table summarizes the warranty activity for the three years in the period ended September 30, 2022.
Balance at September 27, 2019 | $ | 9,190 |
Expense accruals for warranties issued during the period | 11,714 |
Less current period warranty claims paid | 10,055 |
Balance at October 2, 2020 | $ | 10,849 |
Expense accruals for warranties issued during the period | 13,112 |
Less current period warranty claims paid | 9,888 |
Balance at October 1, 2021 | $ | 14,073 |
Expense accruals for warranties issued during the period | 4,563 |
Less current period warranty claims paid | 8,997 |
Balance at September 30, 2022 | $ | 9,639 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The components of Accumulated other comprehensive income ("AOCI") on the accompanying Consolidated Balance Sheets as of the end of fiscal year 2022, 2021 and 2020 were as follows:
| 2022 |  | 2021 |  | 2020
| Pre-Tax Amount |  | Tax Effect |  | Net of Tax Effect |  | Pre-Tax Amount |  | Tax Effect |  | Net of Tax Effect |  | Pre-Tax Amount |  | Tax Effect |  | Net of Tax Effect
Foreign currency translation adjustment | $ | 791 |  |  | $ | — |  |  | $ | 791 |  |  | $ | 7,606 |  |  | $ | — |  |  | $ | 7,606 |  |  | $ | 7,323 |  |  | $ | — |  |  | $ | 7,323 |
Unamortized loss on pension plans | (321) |  |  | 150 |  |  | (171) |  |  | (386) |  |  | 166 |  |  | (220) |  |  | (3,129) |  |  | 523 |  |  | (2,606) |
Accumulated other comprehensive income | $ | 470 |  |  | $ | 150 |  |  | $ | 620 |  |  | $ | 7,220 |  |  | $ | 166 |  |  | $ | 7,386 |  |  | $ | 4,194 |  |  | $ | 523 |  |  | $ | 4,717 |
The changes in AOCI by component, net of tax, for the year ended September 30, 2022 were as follows:
| Foreign Currency Translation Adjustment |  | Unamortized Loss on Defined Benefit Pension Plans |  | Accumulated Other Comprehensive Income (Loss)
Balance at October 1, 2021 | $ | 7,606 |  |  | $ | (220) |  |  | $ | 7,386 |
Other comprehensive income before reclassifications | (6,815) |  |  | 20 |  |  | (6,795) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | 45 |  |  | 45 |
Tax effects | — |  |  | (16) |  |  | (16) |
Balance at September 30, 2022 | $ | 791 |  |  | $ | (171) |  |  | $ | 620 |
The changes in AOCI by component, net of tax, for the year ended October 1, 2021 were as follows:
| Foreign Currency Translation Adjustment |  | Unamortized Loss on Defined Benefit Pension Plans |  | Accumulated Other Comprehensive Income (Loss)
Balance at October 2, 2020 | $ | 7,323 |  |  | $ | (2,606) |  |  | $ | 4,717 |
Other comprehensive income before reclassifications | 283 |  |  | 2,167 |  |  | 2,450 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | 576 |  |  | 576 |
Tax effects | — |  |  | (357) |  |  | (357) |
Balance at October 1, 2021 | $ | 7,606 |  |  | $ | (220) |  |  | $ | 7,386 |
Schedule of Reclassifications Out of AOCI | The reclassifications out of AOCI for the year ended September 30, 2022 were as follows:
|  |  |  | Statement of Operations Presentation
Unamortized loss on defined benefit pension plans |  |  |  |
Amortization of loss |  | $ | 45 |  |  | Cost of sales / Operating expense
Tax effects |  | (11) |  |  | Income tax expense
Total reclassifications for the period |  | $ | 34 |  |  |
The reclassifications out of AOCI for the year ended October 1, 2021 were as follows:
|  |  |  | Statement of Operations Presentation
Unamortized loss on defined benefit pension plans: |  |  |  |
Amortization of loss |  | $ | 576 |  |  | Cost of sales / Operating expense
Tax effects |  | (144) |  |  | Income tax expense
Total reclassifications for the period |  | $ | 432 |  |  |
The reclassifications out of AOCI for the year ended October 2, 2020 were as follows:
|  |  |  | Statement of Operations Presentation
Unamortized loss on defined benefit pension plans: |  |  |  |
Amortization of loss |  | $ | 537 |  |  | Cost of sales / Operating expense
Tax effects |  | (134) |  |  | Income tax expense
Total reclassifications for the period |  | $ | 403 |  |  |
Schedule of Basic and Diluted Earnings Per Share | The following table sets forth a reconciliation of net income to dilutive earnings used in the diluted earnings per common share calculations and the computation of basic and diluted earnings per common share:
| 2022 |  | 2021 |  | 2020
Net income | $ | 44,491 |  |  | $ | 83,381 |  |  | $ | 55,233 |
Less: Undistributed earnings reallocated to non-vested shareholders | (174) |  |  | (320) |  |  | (220) |
Dilutive earnings | $ | 44,317 |  |  | $ | 83,061 |  |  | $ | 55,013 |
Weighted average common shares – Basic: |  |  |  |  |
Class A | 8,913 |  |  | 8,864 |  |  | 8,822 |
Class B | 1,208 |  |  | 1,212 |  |  | 1,212 |
Dilutive stock options and restricted stock units | 30 |  |  | 44 |  |  | 30 |
Weighted average common shares - Dilutive | 10,151 |  |  | 10,120 |  |  | 10,064 |
Net income per common share – Basic: |  |  |  |  |
Class A | $ | 4.42 |  |  | $ | 8.34 |  |  | $ | 5.54 |
Class B | $ | 4.02 |  |  | $ | 7.57 |  |  | $ | 5.04 |
Net income per common share – Diluted: |  |  |  |  |
Class A | $ | 4.37 |  |  | $ | 8.21 |  |  | $ | 5.47 |
Class B | $ | 4.37 |  |  | $ | 8.21 |  |  | $ | 5.47 |

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