Segment Information

3 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

Segment Information

7. Segment Information

We manage our business in two operating segments: (i) the Bus segment, which includes the manufacturing and assembly of buses to be sold to a variety of customers across the U.S., Canada and in international markets; and (ii) the Parts segment, which consists primarily of the purchase of parts from third parties to be sold to dealers within the Company’s network. The tables below present segment net sales and gross profit for the periods presented:

Net sales
	Three Months Ended
(in thousands of dollars)	January 1, 2022		January 2, 2021
Bus (1)	$	112,437	$	117,834
Parts (1)	16,786		12,600
Segment net sales	$	129,223	$	130,434

(1) Parts segment revenue includes $0.8 million for each of the three months ended January 1, 2022 and January 2, 2021 related to inter-segment sales of parts that were eliminated by the Bus segment upon consolidation.

Gross profit
	Three Months Ended
(in thousands of dollars)	January 1, 2022		January 2, 2021
Bus	$	9,642	$	9,710
Parts	6,555		4,758
Segment gross profit	$	16,197	$	14,468

The following table is a reconciliation of segment gross profit to consolidated loss before income taxes for the periods presented:

	Three Months Ended
(in thousands of dollars)	January 1, 2022		January 2, 2021
Segment gross profit	$	16,197	$	14,468
Adjustments:
Selling, general and administrative expenses	(18,233)		(14,690)
Interest expense	(3,082)		(1,930)
Interest income	—		1
Other income, net	736		643
Loss on debt modification	(561)		(598)
Loss before income taxes	$	(4,943)	$	(2,106)

Sales are attributable to geographic areas based on customer location and were as follows for the periods presented:

	Three Months Ended
(in thousands of dollars)	January 1, 2022		January 2, 2021
United States	$	100,547	$	119,077
Canada	26,304		10,466
Rest of world	2,372		891
Total net sales	$	129,223	$	130,434