SEGMENT INFORMATION (Tables)

12 Months Ended

Sep. 30, 2023

Information about the Company's segments follows:


	Memorialization		Industrial Technologies		SGK Brand Solutions		Corporate and Non-Operating		Consolidated
Sales to external customers:
2023	$	842,997	$	505,751	$	532,148	$	—	$	1,880,896
2022	840,124		335,523		586,756		—		1,762,403
2021	769,016		284,495		617,519		—		1,671,030
Intersegment sales:
2023	—		1,829		1,073		—		2,902
2022	—		1,057		1,295		—		2,352
2021	—		2,146		2,376		—		4,522
Depreciation and amortization:
2023	23,738		23,184		44,842		4,766		96,530
2022	23,228		11,387		64,173		5,268		104,056
2021	23,043		11,427		93,665		5,377		133,512
Adjusted EBITDA:
2023	163,986		66,278		57,128		(61,583)		225,809
2022	151,849		56,762		60,120		(58,323)		210,408
2021	165,653		34,889		91,435		(64,227)		227,750
Total assets:
2023	794,129		482,444		572,601		38,207		1,887,381
2022	800,666		414,019		631,291		36,795		1,882,771
2021	807,215		285,710		874,001		65,152		2,032,078
Capital expenditures:
2023	16,868		16,253		14,589		2,888		50,598
2022	28,899		13,646		14,287		4,489		61,321
2021	11,969		8,620		11,775		1,949		34,313

A reconciliation of adjusted EBITDA to net income follows:


	2023		2022		2021
Total Adjusted EBITDA	$	225,809	$	210,408	$	227,750
Acquisition and divestiture related items (1)**	(5,293)		(7,898)		(541)

Strategic initiatives and other charges (2)**	(13,923)		(28,060)		(28,998)

Non-recurring / incremental COVID-19 costs (3)***	—		(2,985)		(5,312)
Highly inflationary accounting losses (primarily non-cash) (4)	(1,360)		(1,473)		—
Defined benefit plan termination related items (5)	—		429		—
Asset write-downs, net (6)	—		(10,050)		—
Goodwill write-downs (7)	—		(82,454)		—

Stock-based compensation	(17,308)		(17,432)		(15,581)
Non-service pension and postretirement expense (8)	(1,640)		(31,823)		(5,837)
Depreciation and amortization *	(96,530)		(104,056)		(133,512)
Interest expense, including RPA and factoring financing fees (9)	(48,690)		(28,771)		(28,684)
Net loss attributable to noncontrolling interests	(155)		(54)		(52)
Income (loss) before income taxes	40,910		(104,219)		9,233
Income tax (provision) benefit	(1,774)		4,391		(6,375)
Net income (loss)	$	39,136	$	(99,828)	$	2,858


(1) Includes certain non-recurring costs associated with recent acquisition and divestiture activity, and also includes a gain of $1,827 in fiscal year 2023 related to the divestiture of a business in the Industrial Technologies segment.
(2) Includes certain non-recurring costs associated with productivity and cost-reduction initiatives intended to result in improved operating performance, profitability and working capital levels and costs associated with global ERP system integration efforts, net of loss recoveries of $2,154 in fiscal year 2023 related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015.

(3) Includes certain non-recurring direct incremental costs (such as costs for purchases of computer peripherals and devices to facilitate working-from-home, additional personal protective equipment and cleaning supplies and services, etc.) incurred in response to COVID-19. This amount does not include the impact of any lost sales or underutilization due to COVID-19.
(4) Represents exchange losses associated with highly inflationary accounting related to the Company's Turkish subsidiaries.
(5) Represents items associated with the termination of the Company's DB Plan, supplemental retirement plan and the defined benefit portion of the officers retirement restoration plan.
(6) Represents asset write-downs, net of recoveries within the SGK Brand Solutions segment (see Note 23, "Asset Write-Downs").
(7) Represents goodwill write-downs within the SGK Brand Solutions segment (see Note 22, "Goodwill and Other Intangible Assets").


(8) Non-service pension and postretirement expense includes interest cost, expected return on plan assets, amortization of actuarial gains and losses, curtailment gains and losses, and settlement gains and losses. These benefit cost components are excluded from adjusted EBITDA since they are primarily influenced by external market conditions that impact investment returns and interest (discount) rates. Curtailment gains and losses and settlement gains and losses are excluded from adjusted EBITDA since they generally result from certain non-recurring events, such as plan amendments to modify future benefits or settlements of plan obligations. The service cost and prior service cost components of pension and postretirement expense are included in the calculation of adjusted EBITDA, since they are considered to be a better reflection of the ongoing service-related costs of providing these benefits. Please note that GAAP pension and postretirement expense or the adjustment above are not necessarily indicative of the current or future cash flow requirements related to these employee benefit plans.
(9) Includes fees for receivables sold under the RPA and factoring arrangements totaling $4,042 and $1,046 for the fiscal years ended September 30, 2023 and 2022, respectively.

* Depreciation and amortization was $23,738, $23,228, and $23,043 for the Memorialization segment, $23,184, $11,387, and $11,427 for the Industrial Technologies segment, $44,842, $64,173, and $93,665 for the SGK Brand Solutions segment, and $4,766, $5,268, and $5,377 for Corporate and Non-Operating, for the fiscal years ended September 30, 2023, 2022, and 2021, respectively.

** Acquisition and divestiture costs, ERP integration costs, and strategic initiatives and other charges were $1,002, $3,517, and $1,923 for the Memorialization segment, $4,108, $5,631, and $4,026 for the Industrial Technologies segment, $10,905, $19,359, and $12,323 for the SGK Brand Solutions segment, and $3,201, $7,451, and $11,267 for Corporate and Non-Operating, for the fiscal years ended September 30, 2023, 2022, and 2021, respectively.

*** Non-recurring/incremental COVID-19 costs were $1,314, and $3,646 for the Memorialization segment, $6, and $38 for the Industrial Technologies segment, $1,199, and $1,539 for the SGK Brand Solutions segment, and $466, and $89 for Corporate and Non-Operating, for the fiscal years ended September 30, 2022, and 2021 respectively.

Information about the Company's operations by geographic area follows:


	North America		Central and South America		Europe		Australia		Asia		Consolidated
Sales to external customers:
2023	$	1,219,238	$	5,260	$	572,736	$	19,913	$	63,749	$	1,880,896
2022	1,230,267		4,729		444,606		21,206		61,595		1,762,403
2021	1,141,396		5,036		446,274		23,568		54,756		1,671,030

Long-lived assets:
2023	806,182		11,690		255,748		14,099		41,194		1,128,913
2022	822,566		10,787		242,614		14,895		42,778		1,133,640
2021	890,545		14,226		277,655		21,012		55,598		1,259,036