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SEGMENTS OF BUSINESS | 12 Months Ended
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Sep. 29, 2023
Segment Reporting [Abstract] |
SEGMENTS OF BUSINESS | SEGMENTS OF BUSINESS The Company conducts its worldwide operations through separate business segments, each of which represent major product lines. Operations are conducted in the U.S. and various foreign countries, primarily in Europe, Canada and the Pacific Basin. During the years ended September 29, 2023, September 30, 2022, and October 1, 2021, combined sales to one customer of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $101,392, $97,174, and $114,008 respectively, of the Company's consolidated revenues. The Company sold the Military and Commercial Tent product lines of its Camping business segment to a third party in an asset sale for a purchase price of $14,990 during the second quarter of fiscal 2023. The net book value of the assets and liabilities sold was approximately $8,350, resulting in a gain on sale of approximately $6,640, which is recorded in Other (income) expense, net in the Company’s accompanying Condensed Consolidated Statements of Operations. The purchase price and the net proceeds received by the Company related to this sale were subject to customary purchase price adjustment provisions and Company indemnity obligations set forth in the definitive purchase agreement. Accordingly, during the third and fourth fiscal quarter of 2023, a working capital true-up was recorded, which reduced the purchase price and the final net gain to approximately $6,560. The sale did not include the Eureka! brand name or the Eureka! consumer/recreational Camping business line. During fiscal 2023, the Company also developed plans to fully exit the Eureka! brand of the Camping segment, which includes liquidating all remaining consumer inventory of Eureka! branded products and winding down operations. This will allow the Company to focus solely on the Jetboil product line, which we believe has a strong position in the cooking market. The Company incurred expenses of approximately $4,800 in fiscal 2023 related to the wind down of the Eureka! branded business, which included accruing exit costs and increasing inventory reserves, as well as incurring a contribution expense for a $2,000 donation of Eureka! inventory to a nonprofit organization. These costs are recorded in Costs of Sales and Operating Expenses in the Consolidated Statements of Operations. Other costs will be expensed as incurred and are not expected to be material. Net sales and operating profit include both sales to customers, as reported in the Company’s accompanying Consolidated Statements of Operations, and inter-unit transfers, which are priced to recover costs plus an appropriate profit margin. Total assets represent assets that are used in the Company’s operations in each business segment at the end of the years presented. A summary of the Company’s operations by business segment is presented below:
| 2023 |  | 2022 |  | 2021
Net sales: |  |  |  |  |
Fishing: |  |  |  |  |
Unaffiliated customers | $ | 491,890 |  |  | $ | 525,563 |  |  | $ | 552,073 |
Interunit transfers | 1,037 |  |  | 1,019 |  |  | 927 |
Camping: |  |  |  |  |
Unaffiliated customers | 45,258 |  |  | 70,308 |  |  | 62,879 |
Interunit transfers | 64 |  |  | 47 |  |  | 42 |
Watercraft Recreation: |  |  |  |  |
Unaffiliated customers | 40,590 |  |  | 67,884 |  |  | 66,396 |
Interunit transfers | 178 |  |  | 56 |  |  | 207 |
Diving |  |  |  |  |
Unaffiliated customers | 85,031 |  |  | 78,862 |  |  | 69,433 |
Interunit transfers | 38 |  |  | 12 |  |  | 14 |
Other / Corporate | 1,075 |  |  | 738 |  |  | 870 |
Eliminations | (1,317) |  |  | (1,134) |  |  | (1,190) |
Total | $ | 663,844 |  |  | $ | 743,355 |  |  | $ | 751,651 |
Operating profit (loss): |  |  |  |  |
Fishing | $ | 41,325 |  |  | $ | 65,433 |  |  | $ | 122,490 |
Camping | 457 |  |  | 13,415 |  |  | 14,025 |
Watercraft Recreation | (1,777) |  |  | 6,173 |  |  | 9,173 |
Diving | 6,092 |  |  | 4,705 |  |  | 1,530 |
Other / Corporate | (34,357) |  |  | (23,416) |  |  | (35,935) |
| $ | 11,740 |  |  | $ | 66,310 |  |  | $ | 111,283 |
Depreciation and amortization expense: |  |  |  |  |
Fishing | $ | 11,653 |  |  | $ | 9,690 |  |  | $ | 8,770 |
Camping | 469 |  |  | 727 |  |  | 644 |
Watercraft Recreation | 688 |  |  | 620 |  |  | 707 |
Diving | 711 |  |  | 635 |  |  | 765 |
Other / Corporate | 2,774 |  |  | 2,562 |  |  | 2,515 |
| $ | 16,295 |  |  | $ | 14,234 |  |  | $ | 13,401 |
Capital expenditures: |  |  |  |  |
Fishing | $ | 17,427 |  |  | $ | 26,114 |  |  | $ | 18,570 |
Camping | 372 |  |  | 87 |  |  | 399 |
Watercraft Recreation | 2,181 |  |  | 1,079 |  |  | 681 |
Diving | 828 |  |  | 834 |  |  | 742 |
Other / Corporate | 1,860 |  |  | 3,576 |  |  | 1,017 |
| $ | 22,668 |  |  | $ | 31,690 |  |  | $ | 21,409 |
Goodwill, net: |  |  |  |  |
Fishing | $ | 11,172 |  |  | $ | 11,160 |  |  |
Camping | — |  |  | — |  |  |
Watercraft Recreation | — |  |  | — |  |  |
Diving | — |  |  | — |  |  |
| $ | 11,172 |  |  | $ | 11,160 |  |  |
Total assets (end of period): |  |  |  |  |
Fishing | $ | 363,463 |  |  | $ | 382,850 |  |  |
Camping | 53,003 |  |  | 59,247 |  |  |
Watercraft Recreation | 26,953 |  |  | 33,496 |  |  |
Diving | 83,555 |  |  | 76,475 |  |  |
Other / Corporate | 154,632 |  |  | 127,863 |  |  |
| $ | 681,606 |  |  | $ | 679,931 |  |  |
A summary of the Company’s operations by geographic area is presented below:
| 2023 |  | 2022 |  | 2021
Net sales: |  |  |  |  |
United States: |  |  |  |  |
Unaffiliated customers | $ | 569,383 |  |  | $ | 649,867 |  |  | $ | 659,330 |
Interunit transfers | 33,873 |  |  | 34,212 |  |  | 30,593 |
Europe: |  |  |  |  |
Unaffiliated customers | 39,155 |  |  | 34,427 |  |  | 30,509 |
Interunit transfers | 9,866 |  |  | 12,109 |  |  | 9,974 |
Canada: |  |  |  |  |
Unaffiliated customers | 39,465 |  |  | 44,635 |  |  | 48,867 |
Interunit transfers | — |  |  | — |  |  | 12 |
Other: |  |  |  |  |
Unaffiliated customers | 15,841 |  |  | 14,425 |  |  | 12,945 |
Interunit transfers | 18 |  |  | 17 |  |  | 106 |
Eliminations | (43,757) |  |  | (46,337) |  |  | (40,685) |
| $ | 663,844 |  |  | $ | 743,355 |  |  | $ | 751,651 |
Total assets: |  |  |  |  |
United States | $ | 565,402 |  |  | $ | 581,004 |  |  |
Europe | 44,360 |  |  | 40,040 |  |  |
Canada and other | 71,844 |  |  | 58,887 |  |  |
| $ | 681,606 |  |  | $ | 679,931 |  |  |
Long-term assets (1): |  |  |  |  |
United States | $ | 188,073 |  |  | $ | 177,191 |  |  |
Europe | 6,578 |  |  | 6,363 |  |  |
Canada and other | 9,948 |  |  | 4,650 |  |  |
| $ | 204,599 |  |  | $ | 188,204 |  |  |
(1)Long term assets consist of net property, plant and equipment, right of use assets, net intangible assets, goodwill and other assets excluding deferred income taxes.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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