Quarterly report pursuant to Section 13 or 15(d)

Restructuring

Restructuring

9 Months Ended

Sep. 30, 2023

NOTE 13. RESTRUCTURING

From time to time, the Company incurs expenses to facilitate long-term sustainable growth through cost reduction actions, consisting of employee reductions, facility rationalization and contract termination costs. These costs include severance costs, exit costs and other restructuring costs and are included in Restructuring charges in the Condensed Consolidated Statements of Comprehensive Loss. Severance costs primarily consist of severance benefits through payroll continuation, conditional separation costs and employer tax liabilities, while exit costs primarily consist of lease exit and contract termination costs. Other costs consisted primarily of costs related to the discontinuance of certain product lines and were distinguishable and directly attributable to the Company’s restructuring initiative and not a result of external market factors associated with the ongoing business.

Pre-tax restructuring charges by segment for the three months ended September 30, 2023 were as follows:


	Three Months Ended September 30, 2023
	Outdoor		Precision Sport		Adventure		Corporate		Total
Employee termination benefits	$	392	$	23	$	93	$	-	$	508
Exit costs		21		-		-		-		21
Other costs		570		-		-		-		570
Total restructuring charges	$	983	$	23	$	93	$	-	$	1,099

Pre-tax restructuring charges by segment for the nine months ended September 30, 2023 were as follows:


	Nine Months Ended September 30, 2023
	Outdoor		Precision Sport		Adventure		Corporate		Total
Employee termination benefits	$	526	$	23	$	267	$	163	$	979
Exit costs		86		-		-		-		86
Other costs		770		-		-		-		770
Total restructuring charges	$	1,382	$	23	$	267	$	163	$	1,835

There were no significant accruals recorded as of September 30, 2023 related to the Company’s restructuring initiatives.