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Business Segment Information (Tables)
 9 Months Ended
Jul. 31, 2019
Segment Reporting [Abstract]  
Selected Financial Information of Segments

Selected financial information of the Company’s segments is as follows:

 

 

 

Three Months Ended July 31, 2019

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

247.7

 

 

$

203.8

 

 

$

166.7

 

 

$

(1.2

)

 

$

617.0

 

Depreciation and amortization

 

$

3.6

 

 

$

2.0

 

 

$

3.6

 

 

$

1.7

 

 

$

10.9

 

Capital expenditures

 

$

2.1

 

 

$

1.4

 

 

$

0.6

 

 

$

0.6

 

 

$

4.7

 

Total assets

 

$

622.8

 

 

$

328.5

 

 

$

336.6

 

 

$

118.2

 

 

$

1,406.1

 

Adjusted EBITDA

 

$

12.1

 

 

$

19.4

 

 

$

12.8

 

 

$

(10.8

)

 

 

 

 

 

 

 

Three Months Ended July 31, 2018

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

238.9

 

 

$

157.6

 

 

$

197.3

 

 

$

3.9

 

 

$

597.7

 

Depreciation and amortization

 

$

3.3

 

 

$

1.9

 

 

$

3.6

 

 

$

2.9

 

 

$

11.7

 

Capital expenditures

 

$

2.1

 

 

$

1.1

 

 

$

2.1

 

 

$

2.9

 

 

$

8.2

 

Total assets

 

$

607.4

 

 

$

299.2

 

 

$

359.9

 

 

$

136.6

 

 

$

1,403.1

 

Adjusted EBITDA

 

$

25.3

 

 

$

11.8

 

 

$

17.9

 

 

$

(7.4

)

 

 

 

 

 

 

 

Nine Months Ended July 31, 2019

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

699.0

 

 

$

514.5

 

 

$

542.6

 

 

$

(5.3

)

 

$

1,750.8

 

Depreciation and amortization

 

$

10.6

 

 

$

6.7

 

 

$

12.0

 

 

$

5.5

 

 

$

34.8

 

Capital expenditures

 

$

5.3

 

 

$

3.1

 

 

$

3.0

 

 

$

2.7

 

 

$

14.1

 

Total assets

 

$

622.8

 

 

$

328.5

 

 

$

336.6

 

 

$

118.2

 

 

$

1,406.1

 

Adjusted EBITDA

 

$

35.8

 

 

$

39.7

 

 

$

39.4

 

 

$

(32.2

)

 

 

 

 

 

 

 

Nine Months Ended July 31, 2018

 

 

 

Fire &

Emergency

 

 

Commercial

 

 

Recreation

 

 

Corporate,

Other & Elims

 

 

Consolidated

 

Net sales

 

$

706.1

 

 

$

447.9

 

 

$

563.4

 

 

$

4.0

 

 

$

1,721.4

 

Depreciation and amortization

 

$

11.8

 

 

$

7.5

 

 

$

9.5

 

 

$

5.1

 

 

$

33.9

 

Capital expenditures

 

$

4.8

 

 

$

3.4

 

 

$

6.3

 

 

$

17.4

 

 

$

31.9

 

Total assets

 

$

607.4

 

 

$

299.2

 

 

$

359.9

 

 

$

136.6

 

 

$

1,403.1

 

Adjusted EBITDA

 

$

65.5

 

 

$

25.7

 

 

$

38.7

 

 

$

(25.6

)

 

 

 

 

 
Reconciliation of Segment Adjusted EBITDA to Net Income (Loss)

Provided below is a reconciliation of segment Adjusted EBITDA to net income (loss):

 

 

 

Three Months Ended

July 31,

 

 

Nine Months Ended

July 31,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Fire & Emergency Adjusted EBITDA

 

$

12.1

 

 

$

25.3

 

 

$

35.8

 

 

$

65.5

 

Commercial Adjusted EBITDA

 

 

19.4

 

 

 

11.8

 

 

 

39.7

 

 

 

25.7

 

Recreation Adjusted EBITDA

 

 

12.8

 

 

 

17.9

 

 

 

39.4

 

 

 

38.7

 

Corporate and Other Adjusted EBITDA

 

 

(10.8

)

 

 

(7.4

)

 

 

(32.2

)

 

 

(25.6

)

Depreciation and amortization

 

 

(10.9

)

 

 

(11.7

)

 

 

(34.8

)

 

 

(33.9

)

Interest expense, net

 

 

(8.4

)

 

 

(6.8

)

 

 

(24.2

)

 

 

(18.3

)

(Provision) benefit for income taxes

 

 

(1.9

)

 

 

(3.8

)

 

 

—

 

 

 

7.2

 

Transaction expenses

 

 

(0.5

)

 

 

—

 

 

 

(0.7

)

 

 

(2.1

)

Sponsor expense reimbursement

 

 

—

 

 

 

(0.2

)

 

 

(0.6

)

 

 

(0.5

)

Restructuring costs

 

 

(1.3

)

 

 

(0.9

)

 

 

(4.2

)

 

 

(6.9

)

Stock-based compensation expense

 

 

(2.5

)

 

 

(1.4

)

 

 

(7.3

)

 

 

(5.1

)

Non-cash purchase accounting expense

 

 

—

 

 

 

(0.5

)

 

 

—

 

 

 

(1.2

)

Legal matters

 

 

(0.8

)

 

 

(1.1

)

 

 

(5.3

)

 

 

(2.8

)

Impairment charges

 

 

—

 

 

 

—

 

 

 

(2.8

)

 

 

—

 

Losses attributable to assets held for sale

 

 

(1.0

)

 

 

—

 

 

 

(3.3

)

 

 

—

 

Deferred purchase price payment

 

 

(0.6

)

 

 

(1.9

)

 

 

(2.8

)

 

 

(4.1

)

First year public company costs

 

 

—

 

 

 

(1.0

)

 

 

—

 

 

 

(1.5

)

Net income (loss)

 

$

5.6

 

 

$

18.3

 

 

$

(3.3

)

 

$

35.1