XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Information [Abstract] |
Segment Information | NOTE 16. SEGMENT INFORMATION We operate our business structure within three segments. These segments are defined based on the internal financial reporting used by our chief operating decision maker to allocate resources and assess performance. Certain significant selling and general and administrative expenses are not allocated to the segments including non-cash stock compensation expense. Each segment is described below:
| ● | Our Outdoor segment, which includes Black Diamond Equipment, PIEPS, and SKINourishment, is a global leader in designing, manufacturing, and marketing innovative outdoor engineered equipment and apparel for climbing, mountaineering, trail running, backpacking, skiing, and a wide range of other year-round outdoor recreation activities. Our Outdoor segment offers a broad range of products including: high-performance, activity-based apparel (such as shells, insulation, midlayers, pants and logowear); rock-climbing footwear and equipment (such as carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gear); technical backpacks and high-end day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skincare and other sport-enhancing products. We also offer advanced skis, ski poles, ski skins, and snow safety products, including avalanche airbag systems, avalanche transceivers, shovels, and probes.
| ● | Our Precision Sport segment, which includes Sierra and Barnes, includes two iconic American manufacturers of a wide range of high-performance bullets and ammunition for both rifles and pistols. These bullets are used for precision target shooting, hunting and military and law enforcement purposes.
| ● | Our Adventure segment, which includes Rhino-Rack and MAXTRAX, is a manufacturer of highly-engineered automotive roof racks, trays, mounting systems, luggage boxes, carriers, recovery boards and accessories in Australia and New Zealand and a growing presence in the United States.
As noted above, the Company has a wide variety of technical outdoor equipment and lifestyle products that are sold to a variety of customers in multiple end markets. While there are multiple products sold, the terms and nature of revenue recognition policy is similar for all segments. Financial information for our segments, as well as revenue by geography, which the Company believes provides a meaningful depiction how the nature, timing and uncertainty of revenue are affected by economic factors, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Sales to external customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic sales | ​ | $ | 21,869 | ​ | $ | 27,293 | ​ | $ | 43,434 | ​ | $ | 52,922
International sales | ​ | ​ | 18,198 | ​ | ​ | 25,311 | ​ | ​ | 49,408 | ​ | ​ | 51,204
Total Outdoor | ​ | ​ | 40,067 | ​ | ​ | 52,604 | ​ | ​ | 92,842 | ​ | ​ | 104,126
Precision Sport | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic sales | ​ | ​ | 20,731 | ​ | ​ | 27,193 | ​ | ​ | 41,450 | ​ | ​ | 54,636
International sales | ​ | ​ | 5,060 | ​ | ​ | 7,994 | ​ | ​ | 11,447 | ​ | ​ | 13,669
Total Precision Sport | ​ | ​ | 25,791 | ​ | ​ | 35,187 | ​ | ​ | 52,897 | ​ | ​ | 68,305
Adventure | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic sales | ​ | ​ | 4,056 | ​ | ​ | 9,587 | ​ | ​ | 6,688 | ​ | ​ | 18,822
International sales | ​ | ​ | 13,814 | ​ | ​ | 17,555 | ​ | ​ | 28,685 | ​ | ​ | 36,956
Total Adventure | ​ | ​ | 17,870 | ​ | ​ | 27,142 | ​ | ​ | 35,373 | ​ | ​ | 55,778
Total sales to external customers | ​ | ​ | 83,728 | ​ | ​ | 114,933 | ​ | ​ | 181,112 | ​ | ​ | 228,209
Segment operating (loss) income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | ​ | (1,224) | ​ | ​ | 1,471 | ​ | ​ | 266 | ​ | ​ | 3,359
Precision Sport | ​ | ​ | 5,263 | ​ | ​ | 12,235 | ​ | ​ | 12,488 | ​ | ​ | 24,015
Adventure | ​ | ​ | (503) | ​ | ​ | 644 | ​ | ​ | (1,651) | ​ | ​ | 2,768
Total segment operating income | ​ | ​ | 3,536 | ​ | ​ | 14,350 | ​ | ​ | 11,103 | ​ | ​ | 30,142
Restructuring charges | ​ | ​ | 736 | ​ | ​ | — | ​ | ​ | 736 | ​ | ​ | —
Transaction costs | ​ | ​ | (59) | ​ | ​ | (821) | ​ | ​ | (133) | ​ | ​ | (2,022)
Contingent consideration benefit (expense) | ​ | ​ | — | ​ | ​ | 374 | ​ | ​ | 1,565 | ​ | ​ | (389)
Corporate and other expenses | ​ | ​ | (4,230) | ​ | ​ | (7,455) | ​ | ​ | (8,510) | ​ | ​ | (13,237)
Interest expense, net | ​ | ​ | (2,857) | ​ | ​ | (1,728) | ​ | ​ | (5,603) | ​ | ​ | (2,844)
(Loss) income before income tax | ​ | $ | (2,874) | ​ | $ | 4,720 | ​ | $ | (842) | ​ | $ | 11,650
​ There were no intercompany sales between the Outdoor, Precision Sport, and Adventure segments for the periods presented. Total assets by segment, as of June 30, 2023 and December 31, 2022, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ |  | June 30, 2023 |  | December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 164,413 | ​ | $ | 175,820
Precision Sport | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 138,728 | ​ | ​ | 144,224
Adventure | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 171,927 | ​ | ​ | 181,867
Corporate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 22,928 | ​ | ​ | 16,234
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 497,996 | ​ | $ | 518,145
​ Capital expenditures, depreciation and amortization by segment is as follows. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Capital expenditures: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | $ | 455 | ​ | $ | 1,089 | ​ | $ | 778 | ​ | $ | 2,325
Precision Sport | ​ | ​ | 667 | ​ | ​ | 772 | ​ | ​ | 1,406 | ​ | ​ | 1,222
Adventure | ​ | ​ | 659 | ​ | ​ | 311 | ​ | ​ | 1,068 | ​ | ​ | 525
Total capital expenditures | ​ | $ | 1,781 | ​ | $ | 2,172 | ​ | $ | 3,252 | ​ | $ | 4,072
Depreciation: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | $ | 740 | ​ | $ | 829 | ​ | $ | 1,413 | ​ | $ | 1,646
Precision Sport | ​ | ​ | 861 | ​ | ​ | 812 | ​ | ​ | 1,713 | ​ | ​ | 1,593
Adventure | ​ | ​ | 340 | ​ | ​ | 236 | ​ | ​ | 606 | ​ | ​ | 470
Total depreciation | ​ | $ | 1,941 | ​ | $ | 1,877 | ​ | $ | 3,732 | ​ | $ | 3,709
Amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outdoor | ​ | $ | 256 | ​ | $ | 250 | ​ | $ | 514 | ​ | $ | 505
Precision Sport | ​ | ​ | 509 | ​ | ​ | 693 | ​ | ​ | 1,017 | ​ | ​ | 1,385
Adventure | ​ | ​ | 2,458 | ​ | ​ | 2,994 | ​ | ​ | 4,968 | ​ | ​ | 6,167
Total amortization | ​ | $ | 3,223 | ​ | $ | 3,937 | ​ | $ | 6,499 | ​ | $ | 8,057
​

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration