Restructuring and Impairment |
6 Months Ended |
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Mar. 31, 2025 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Impairment | Restructuring and Impairment During the six months ended March 31, 2025, the Company underwent various restructuring actions, primarily a reduction of headcount, closure of certain locations and inventory adjustments related to the cancellation of certain dealer agreements. As a result of the restructuring activities, the Company recognized $0.4 million of restructuring charges during the three months ended March 31, 2025, which is recorded in restructuring and impairment in the unaudited consolidated statement of operations. The $0.4 million of restructuring charges are fully reported in the Distribution reporting segment. The Company recognized $2.3 million of restructuring charges during the six months ended March 31, 2025, of which $1.2 million is recorded in restructuring and impairment and $1.1 million is recorded in new boat cost of sales in the unaudited consolidated statement of operations. Of the $2.3 million restructuring charges, $1.2 million and $1.1 million is reported in the Dealerships and Distribution reporting segments, respectively. In March 2024, the Company evaluated its operations and decided to undergo a restructuring plan (the "2024 Restructuring") which resulted in the reduction of headcount and retail locations, cancellation of certain dealer agreements, and the cancellation of certain in-process information and technology ("IT") related projects. As a result of the 2024 Restructuring, the Company recognized $11.8 million of charges during the three and six months ended March 31, 2024, which are recorded in restructuring and impairment in the unaudited consolidated statement of operations.
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