XML 42 R28.htm IDEA: XBRL DOCUMENT v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Sep. 29, 2023
Accounting Policies [Abstract]  
Schedule of Company's Marketable Securities
The following table summarizes the Company's marketable securities measured at fair value as of September 29, 2023:
 Amortized CostFair ValueGross unrealized gainsGross unrealized losses
    
Fixed rate US Government Bonds$29,749 $29,686 $— $63 
Fixed rate Canadian Government Bonds$11,121 $11,021 $— $100 
Total$40,870 $40,707 $— $163 
Schedule of Inventories
Inventories at the end of the respective fiscal years consisted of the following:
  September 29
2023		September 30
2022
Raw materials$114,467 $166,443 
Work in process— 230 
Finished goods147,007 81,976 
 $261,474 $248,649 
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:
 20232022
Property improvements$380 $586 
Buildings and improvements35,877 33,930 
Furniture and fixtures, equipment and computer software235,522 226,452 
 271,779 260,968 
Less accumulated depreciation177,426 171,843 
 $94,353 $89,125 
Schedule of Goodwill
The changes in the carrying amount and the composition of the Company's goodwill for fiscal 2023 and 2022 were as follows:
FishingCampingWatercraftDivingTotal
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
Goodwill17,389 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 
Currency translation12 — — — 12 
Balance at September 29, 2023
Goodwill17,401 7,038 6,242 33,078 63,759 
Accumulated impairment losses(6,229)(7,038)(6,242)(33,078)(52,587)
$11,172 $— $— $— $11,172 
Schedule of Intangible Assets
Intangible assets at the end of the last two years consisted of the following:
 20232022
 Gross
Intangible		Accumulated
Amortization		NetGross
Intangible		Accumulated
Amortization		Net
Amortized other intangible assets:      
Patents and trademarks$4,045 $(4,041)$4 $3,959 $(3,956)$3 
Other amortizable intangibles12,769 (11,326)1,443 12,137 (10,793)1,344 
Non-amortized trademarks7,025 — 7,025 7,025 — 7,025 
 $23,839 $(15,367)$8,472 $23,121 $(14,749)$8,372 
Schedule of Warranty Activity The following table summarizes the warranty activity for the three years in the period ended September 29, 2023.
Balance at October 2, 2020$10,849 
Expense accruals for warranties issued during the period13,112 
Less current period warranty claims paid9,888 
Balance at October 1, 2021$14,073 
Expense accruals for warranties issued during the period4,563 
Less current period warranty claims paid8,997 
Balance at September 30, 2022$9,639 
Expense accruals for warranties issued during the period11,330 
Less current period warranty claims paid9,228 
Balance at September 29, 2023$11,741 
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 2023, 2022 and 2021 were as follows:
 202320222021
 Pre-Tax
Amount		Tax EffectNet of Tax
Effect		Pre-Tax
Amount		Tax EffectNet of Tax
Effect		Pre-Tax
Amount		Tax EffectNet of Tax
Effect
Foreign currency translation adjustment$3,581 $— $3,581 $791 $— $791 $7,606 $— $7,606 
Unrealized loss on available-for-sale securities(163)42 (121)— — — — — — 
Unamortized loss on pension plans(276)139 (137)(321)150 (171)(386)166 (220)
Accumulated other comprehensive income$3,142 $181 $3,323 $470 $150 $620 $7,220 $166 $7,386 
The changes in AOCI by component, net of tax, for the year ended September 29, 2023 were as follows:
 Foreign
Currency
Translation
Adjustment		Unrealized gain (loss) on available-for-sale securitiesUnamortized
Loss on Defined
Benefit Pension
Plans		Accumulated
Other
Comprehensive
Income (Loss)
Balance at September 30, 2022$791 $— $(171)$620 
Other comprehensive income before reclassifications2,790 (163)— 2,627 
Amounts reclassified from accumulated other comprehensive income— — 45 45 
Tax effects— 42 (11)31 
Balance at September 29, 2023$3,581 $(121)$(137)$3,323 
 
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 
Schedule of Reclassifications Out of AOCI
The reclassifications out of AOCI for the years ended September 29, 2023, September 30, 2022, and October 1, 2021 were as follows:
 202320222021Statement of Operations
Presentation
Unamortized loss on defined benefit pension plans    
Amortization of loss$45 $45 $576 Cost of sales / Operating expense
Tax effects(11)(11)(144)Income tax expense
Total reclassifications for the period$34 $34 $432  
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:
 202320222021
Net income$19,534 $44,491 $83,381 
Less: Undistributed earnings reallocated to non-vested shareholders(122)(174)(320)
Dilutive earnings$19,412 $44,317 $83,061 
Weighted average common shares – Basic:   
Class A8,968 8,913 8,864 
Class B1,208 1,208 1,212 
Dilutive stock options and restricted stock units19 30 44 
Weighted average common shares - Dilutive10,195 10,151 10,120 
Net income per common share – Basic:   
Class A$1.93 $4.42 $8.34 
Class B$1.75 $4.02 $7.57 
Net income per common share – Diluted:   
Class A$1.90 $4.37 $8.21 
Class B$1.90 $4.37 $8.21