XML 35 R25.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Segment Information (Tables)
 9 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment :
Net sales
Three Months EndedNine Months Ended
(in thousands of dollars)June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Bus (1)$308,037 $270,282 $919,433 $757,003 
Parts (1)25,330 24,002 77,509 72,827 
Segment net sales$333,367 $294,284 $996,942 $829,830 
(1) Parts segment revenue includes $2.6 million and $1.7 million for the three months ended June 29, 2024 and July 1, 2023, respectively, and $6.9 million and $4.1 million for the nine months ended June 29, 2024 and July 1, 2023, respectively, related to inter-segment sales of parts that was eliminated by the Bus segment upon consolidation.

Gross profit (loss)
Three Months EndedNine Months Ended
(in thousands of dollars)June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Bus$56,545 $34,176 $157,428 $53,544 
Parts12,808 11,574 39,122 35,312 
Segment gross profit$69,353 $45,750 $196,550 $88,856 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table is a reconciliation of segment gross profit to consolidated income before income taxes for the periods presented:
Three Months EndedNine Months Ended
(in thousands of dollars)June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Segment gross profit$69,353 $45,750 $196,550 $88,856 
Adjustments:
Selling, general and administrative expenses(29,625)(26,328)(82,798)(66,365)
Interest expense(2,107)(4,507)(8,550)(13,895)
Interest income990 246 3,132 258 
Other expense, net
(2,729)(6,421)(5,918)(6,999)
Loss on debt refinancing or modification
— — (1,558)(537)
Income before income taxes
$35,882 $8,740 $100,858 $1,318 
Revenue from External Customers by Geographic Areas
Sales are attributable to geographic areas based on customer location and were as follows for the periods presented:
Three Months EndedNine Months Ended
(in thousands of dollars)June 29, 2024July 1, 2023June 29, 2024July 1, 2023
U.S.
$291,374 $282,908 $910,489 $751,730 
Canada41,804 9,801 85,981 72,556 
Rest of world189 1,575 472 5,544 
Total net sales$333,367 $294,284 $996,942 $829,830