Hamilton Beach Brands Holding (HBB) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-38214
Entity Registrant Name	HAMILTON BEACH BRANDS HOLDING COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-1236686
Entity Address, Address Line One	4421 WATERFRONT DR.
Entity Address, City or Town	GLEN ALLEN
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23060
City Area Code	(804)
Local Phone Number	273-9777
Title of 12(b) Security	Class A Common Stock, Par Value $0.01 Per Share
Trading Symbol	HBB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001709164
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common stock
Entity Information [Line Items]
Shares Outstanding (in shares)		10,025,235
Class B Common stock
Entity Information [Line Items]
Shares Outstanding (in shares)		3,856,041

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Current assets
Cash and cash equivalents	$ 1,504	$ 1,125	$ 1,463
Trade receivables, net	97,802	119,580	120,672
Inventory	244,464	183,382	176,982
Prepaid expenses and other current assets	13,295	14,273	22,755
Total current assets	357,065	318,360	321,872
Property, plant and equipment, net	28,363	30,485	31,699
Goodwill	6,253	6,253	6,253
Other intangible assets, net	1,542	1,692	1,742
Deferred income taxes	1,800	4,006	3,088
Deferred costs	14,465	18,703	14,785
Other non-current assets	7,432	3,005	3,024
Total assets	416,920	382,504	382,463
Current liabilities
Accounts payable	111,485	131,912	126,231
Accrued compensation	10,543	11,719	10,797
Accrued product returns	4,651	6,429	6,048
Other current liabilities	13,222	14,116	17,084
Total current liabilities	139,901	164,176	160,160
Revolving credit agreements	146,051	96,837	114,950
Other long-term liabilities	13,019	19,212	19,448
Total liabilities	298,971	280,225	294,558
Stockholders' equity
Capital in excess of par value	64,117	61,586	61,233
Treasury stock	(8,939)	(5,960)	(5,960)
Retained earnings	74,597	60,753	49,505
Accumulated other comprehensive loss	(11,971)	(14,243)	(17,016)
Total stockholders' equity	117,949	102,279	87,905
Total liabilities and stockholders' equity	416,920	382,504	382,463
Class A Common stock
Stockholders' equity
Common stock	106	103	102
Class B Common stock
Stockholders' equity
Common stock	$ 39	$ 40	$ 41

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 150,823	$ 156,740	$ 444,701	$ 460,644
Cost of sales	115,979	123,456	349,649	367,284
Gross profit	34,844	33,284	95,052	93,360
Selling, general and administrative expenses	25,425	25,788	67,361	79,614
Amortization of intangible assets	50	50	150	150
Operating profit (loss)	9,369	7,446	27,541	13,596
Interest expense, net	1,289	662	2,889	2,080
Other expense (income), net	432	(126)	1,646	(179)
Income (loss) before income taxes	7,648	6,910	23,006	11,695
Income tax expense (benefit)	1,741	1,204	4,837	3,027
Net income (loss)	$ 5,907	$ 5,706	$ 18,169	$ 8,668
Basic earnings (loss) per share (in dollars per share)	$ 0.43	$ 0.41	$ 1.30	$ 0.62
Diluted earnings (loss) per share (in dollars per share)	$ 0.43	$ 0.41	$ 1.30	$ 0.62
Basic weighted average shares outstanding (in shares)	13,869	13,887	13,999	13,872
Diluted weighted average shares outstanding (in shares)	13,892	13,902	14,026	13,888

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 5,907	$ 5,706	$ 18,169	$ 8,668
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(1,144)	306	(3,260)	229
(Loss) gain on long-term intra-entity foreign currency transactions	(14)	(960)	1,584	(626)
Cash flow hedging activity	1,963	526	5,384	130
Reclassification of foreign currency adjustments into earnings	0	0	2,085	0
Reclassification of hedging activities into earnings	210	129	78	355
Pension plan adjustment	(4,013)	0	(4,013)	0
Reclassification of pension adjustments into earnings	305	147	414	372
Total other comprehensive income (loss), net of tax	(2,693)	148	2,272	460
Comprehensive income (loss)	$ 3,214	$ 5,854	$ 20,441	$ 9,128

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income (loss)	$ 18,169	$ 8,668
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	3,552	3,077
Deferred income taxes	912	4,245
Stock compensation expense	2,533	2,883
Brazil foreign currency loss	2,085	0
Other	898	1,208
Net changes in operating assets and liabilities:
Affiliate payable	0	(505)
Trade receivables	21,370	26,546
Inventory	(63,328)	(3,082)
Other assets	2,181	(12,160)
Accounts payable	(20,150)	(27,868)
Other liabilities	(8,395)	(7,118)
Net cash provided by (used for) operating activities	(40,173)	(4,106)
Investing activities
Expenditures for property, plant and equipment	(1,560)	(9,109)
Net cash provided by (used for) investing activities	(1,560)	(9,109)
Financing activities
Net additions (reductions) to revolving credit agreements	49,604	16,580
Purchase of treasury stock	(2,979)	0
Cash dividends paid	(4,325)	(4,078)
Financing fees paid	(47)	0
Other financing	0	(243)
Net cash provided by (used for) financing activities	42,253	12,259
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(204)	4
Cash, cash equivalents and restricted cash
Increase (decrease) for the period	316	(952)
Balance at the beginning of the period	2,150	3,436
Balance at the end of the period	2,466	2,484
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	1,504	1,463
Restricted cash included in prepaid expenses and other current assets	58	208
Restricted cash included in other non-current assets	904	813
Total cash, cash equivalents, and restricted cash	$ 2,466	$ 2,484

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Capital in Excess of Par Value	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Class A Common stock Common Stock	Class B Common stock Common Stock
Balance, beginning of period at Dec. 31, 2020	$ 80,105	$ 58,485	$ (5,960)	$ 44,915	$ (17,476)	$ 100	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,876			2,876
Issuance of common stock, net of conversions	0	(2)				2
Share-based compensation expense	973	973
Cash dividends	(1,302)			(1,302)
Other comprehensive income (loss), net of tax	(191)				(191)
Reclassification adjustment to net income (loss)	238				238
Balance, end of period at Mar. 31, 2021	82,699	59,456	(5,960)	46,489	(17,429)	102	41
Balance, beginning of period at Dec. 31, 2020	80,105	58,485	(5,960)	44,915	(17,476)	100	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,668
Balance, end of period at Sep. 30, 2021	87,905	61,233	(5,960)	49,505	(17,016)	102	41
Balance, beginning of period at Mar. 31, 2021	82,699	59,456	(5,960)	46,489	(17,429)	102	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	86			86
Share-based compensation expense	1,425	1,425
Cash dividends	(1,387)			(1,387)
Other comprehensive income (loss), net of tax	52				52
Reclassification adjustment to net income (loss)	213				213
Balance, end of period at Jun. 30, 2021	83,088	60,881	(5,960)	45,188	(17,164)	102	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,706			5,706
Share-based compensation expense	352	352
Cash dividends	(1,389)			(1,389)
Other comprehensive income (loss), net of tax	(128)				(128)
Reclassification adjustment to net income (loss)	276				276
Balance, end of period at Sep. 30, 2021	87,905	61,233	(5,960)	49,505	(17,016)	102	41
Balance, beginning of period at Dec. 31, 2021	102,279	61,586	(5,960)	60,753	(14,243)	103	40
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,173			7,173
Issuance of common stock, net of conversions	0	(1)				2	(1)
Share-based compensation expense	764	764
Cash dividends	(1,392)			(1,392)
Other comprehensive income (loss), net of tax	2,321				2,321
Reclassification adjustment to net income (loss)	2,013				2,013
Balance, end of period at Mar. 31, 2022	113,158	62,349	(5,960)	66,534	(9,909)	105	39
Balance, beginning of period at Dec. 31, 2021	102,279	61,586	(5,960)	60,753	(14,243)	103	40
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	18,169
Balance, end of period at Sep. 30, 2022	117,949	64,117	(8,939)	74,597	(11,971)	106	39
Balance, beginning of period at Mar. 31, 2022	113,158	62,349	(5,960)	66,534	(9,909)	105	39
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,089			5,089
Purchase of treasury stock	(1,640)		(1,640)
Issuance of common stock, net of conversions	0	(1)				1
Share-based compensation expense	1,042	1,042
Cash dividends	(1,478)			(1,478)
Other comprehensive income (loss), net of tax	582				582
Reclassification adjustment to net income (loss)	49				49
Balance, end of period at Jun. 30, 2022	116,802	63,390	(7,600)	70,145	(9,278)	106	39
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,907			5,907
Purchase of treasury stock	(1,339)		(1,339)
Share-based compensation expense	727	727
Cash dividends	(1,455)			(1,455)
Other comprehensive income (loss), net of tax	(3,208)				(3,208)
Reclassification adjustment to net income (loss)	515				515
Balance, end of period at Sep. 30, 2022	$ 117,949	$ 64,117	$ (8,939)	$ 74,597	$ (11,971)	$ 106	$ 39

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.105	$ 0.105	$ 0.10	$ 0.10	$ 0.10	$ 0.095

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	Basis of Presentation and Recently Issued Accounting Standards Basis of Presentation Hamilton Beach Brands Holding Company operates through its wholly-owned subsidiary, Hamilton Beach Brands, Inc. (“HBB”) (collectively “Hamilton Beach Holding” or the “Company”). HBB is a leading designer, marketer, and distributor of branded, small electric household and specialty housewares appliances, as well as commercial products for restaurants, bars, and hotels. HBB operates in the consumer, commercial, and specialty appliance markets. The financial statements have been prepared in accordance with US generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the remainder of the year due to the highly seasonal nature of the Company's primary markets. A majority of revenue and operating profit typically occurs in the second half of the calendar year when sales of products to retailers and consumers historically increase significantly for the fall holiday-selling season. Accounting Standards Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The new accounting rules provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform. During the third quarter of 2022, the Company adopted certain optional expedients provided under Topic 848 that permit its hedging relationships to continue without de-designation upon changes due to reference rate reform. The adoption of this guidance resulted in no material impact to the Company’s consolidated financial statements. The optional expedients and accounting relief in Topic 848 remain effective through December 31, 2022. Accounting Standards Not Yet Adopted The Company is an emerging growth company and has elected not to opt out of the extended transition period for complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public or nonpublic entities, the Company can adopt the new or revised standard at the time nonpublic entities adopt the new or revised standard. We will lose our status as an emerging growth company as of December 31, 2022, the last day of the fiscal year following the fifth anniversary of our spin-off from NACCO Industries, Inc. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)," which requires an entity to recognize assets and liabilities for the rights and obligations created by leased assets. For nonpublic entities, the amendments are currently effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is planning to adopt ASU 2016-02 when required using the modified retrospective transition method applied on the effective date. The Company’s preliminary assessment has focused on the policy elections and practical expedients permitted by the standard. The Company currently anticipates electing to apply the package of practical expedients to all leases that commenced prior to the date of adoption. Based on the analysis performed to date, the Company anticipates making a policy election to not include short-term leases on the Consolidated Balance Sheets and to not separate lease and non-lease components as permitted by the accounting guidance. The assessment is ongoing and the preliminary conclusions are subject to change. We continue to evaluate to what extent ASU 2016-02 will affect the Company's financial position, results of operations, cash flows and related disclosures. The Company expects to record additional material assets and corresponding liabilities related to operating leases in the statement of financial position. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326)," which requires an entity to recognize credit losses as an allowance rather than as a write-down. For nonpublic entities and smaller reporting companies, the amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company is planning to adopt ASU 2016-13 for its year beginning January 1, 2023 and subsequent interim periods and is currently evaluating to what extent ASU 2016-13 will affect the Company's financial position, results of operations, cash flows and related disclosures. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” The new accounting rules reduce complexity by removing specific exceptions to general principles related to intraperiod tax allocations, ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. The new accounting rules also simplify accounting for franchise taxes that are partially based on income, transactions with a government that result in a step up in the tax basis of goodwill, separate financial statements of legal entities that are not subject to tax, and enacted changes in tax laws in interim periods. The Company will adopt ASU 2019-12 for the fiscal year ending December 31, 2022 and the adoption of this guidance is not expected to have a material impact on the Company’s financial condition, results of operations or cash flows. Assets Held for Sale During the fourth quarter of 2020, the Company committed to a plan to sell its Brazilian subsidiary and determined that it met all of the criteria to classify the assets and liabilities of this business as held for sale. In April 2021, the Company made the decision to wind down the Brazilian subsidiary and enter into a licensing agreement with a third party to service the Brazilian market. The carrying amounts of the assets were reclassified to held and used during the second quarter of 2021. During the first quarter of 2022, the criteria for substantially complete liquidation were met, and $2.1 million of accumulated other comprehensive losses were released into other expense (income), net in the consolidated results of operations during the three months ended March 31, 2022. Insurance Recovery In the first quarter of 2022, the Company recognized $10.0 million of insurance recovery associated with unauthorized transactions by former employees at our Mexican subsidiaries, which were identified in the quarter ended March 31, 2020. The Company maintains fidelity insurance and filed a claim to recover losses incurred up to the policy maximum of $10.0 million. The insurance recovery was received during the second quarter of 2022, and the benefit was recognized in selling, general and administrative expenses in our Consolidated Statement of Operations during the first quarter of 2022. U.S. Pension Plan Termination During the second quarter of 2022, the Board of Directors of HBB approved the termination of the Company's U.S. defined benefit pension plan (the "Plan") with an effective date of September 30, 2022. The Plan was previously frozen, effective December 31, 1996, for participation and benefit accrual purposes (except cash balance interest credits required by law). The Company has started the process to terminate and settle the Plan, which could take up to an estimated 24 months to complete. Benefit obligations under the Plan will be settled through a combination of lump sum payments to eligible plan participants and the purchase of a group annuity contract, under which future benefit obligations will be transferred to a third-party insurance company. As of September 30, 2022, December 31, 2021, and September 30, 2021, the plan was overfunded under U.S. generally accepted accounting principles (“GAAP”) measures by $12.0 million, $16.0 million and $13.4 million, respectively. In light of the termination process, the Plan transferred a significant portion of its assets to lower risk investments in 2022. The Company expects that there will be no further required minimum contributions to the Plan. We currently expect that all surplus assets remaining after the Plan termination will be transferred to a qualified replacement plan. Pension Settlement In the third quarter of 2022, the Company remeasured the Plan which was triggered by the level of lump sum distributions from the Plans' assets exceeding the Plan's service and interest cost threshold. The Company recognized a pre-tax pension settlement loss in Other expense (income), net of $0.3 million ($0.2 million after-tax or $0.01 per diluted share). The remeasurement resulted in a decrease in the pension benefit obligation of $2.6 million and a decrease in the fair value of the pension plan assets of $6.6 million. The impact of the remeasurement on net periodic pension benefit cost will be recognized prospectively from the remeasurement date. Amended Credit Agreement On August 15, 2022, the Company entered into Amendment No. 12 to Amended and Restated Credit Agreement by and among Wells Fargo Bank, National Association, as Administrative Agent, the Lenders that are Parties thereto as the Lenders, Hamilton Beach Brands, Inc., as Parent and U.S. Borrower, and Hamilton Beach Brands Canada, Inc., as Canadian Borrower (the “Amendment”). For a period of ninety days, the Amendment increases the credit facility under the Amended and Restated Credit Amendment from $150 million to $165 million and increases the eligible inventory included in the borrowing base. Additionally, the Amendment amends the pricing grid. The Amendment provides the Company flexibility on a short-term basis as it manages working capital into the holiday selling season. The pricing grid was amended to, among other matters, include an interest rate of Secured Overnight Financing Rate ("SOFR") plus an applicable margin, as allowed under Amendment No. 10 due to the transition away from LIBOR as a benchmark interest rate.

Transfer of Financial Assets

Transfer of Financial Assets	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Transfer of Financial Assets	Transfer of Financial Assets The Company has entered into an arrangement with a financial institution to sell certain US trade receivables on a non-recourse basis. The Company utilizes this arrangement as an integral part of financing working capital.  Under the terms of the agreement, the Company receives cash proceeds and retains no rights or interest and has no obligations with respect to the sold receivables.  These transactions are accounted for as sold receivables which result in a reduction in trade receivables because the agreement transfers effective control over and risk related to the receivables to the buyer. Under this arrangement, the Company derecognized $28.7 million and $81.0 million of trade receivables during the three and nine months ending September 30, 2022, respectively, $28.1 million and $94.1 million of trade receivables during the three and nine months ending September 30, 2021, respectively, and $140.7 million during the year ending December 31, 2021. The loss incurred on sold receivables in the consolidated results of operations for the nine months ended September 30, 2022 and 2021 was not material. The Company does not carry any servicing assets or liabilities. Cash proceeds from this arrangement are reflected as operating activities in the Consolidated Statements of Cash Flows.

Fair Value Disclosure

Fair Value Disclosure	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosure	Fair Value Disclosure The following table presents the Company's assets and liabilities accounted for at fair value on a recurring basis: Description Balance Sheet Location SEPTEMBER 30 DECEMBER 31 SEPTEMBER 30 Assets: Interest rate swap agreements Current Prepaid expenses and other current assets $ 894 $ — $ — Long-term Other non-current assets 4,958 — — Foreign currency exchange contracts Current Prepaid expenses and other current assets 522 73 182 $ 6,374 $ 73 $ 182 Liabilities: Interest rate swap agreements Current Other current liabilities $ — $ 216 $ 333 Long-term Other long-term liabilities — 655 864 Foreign currency exchange contracts Current Other current liabilities 50 41 24 $ 50 $ 912 $ 1,221 The Company measures its derivatives at fair value using significant observable inputs, which is Level 2 as defined in the fair value hierarchy. The Company uses a present value technique that incorporates the SOFR swap curve, foreign currency spot rates and foreign currency forward rates to value its derivatives, including its interest rate swap agreements and foreign currency exchange contracts, and also incorporates the effect of its subsidiary and counterparty credit risk into the valuation. Other Fair Value Measurement Disclosures The carrying amounts of cash and cash equivalents, trade receivables and accounts payable approximate fair value due to the short-term maturities of these instruments. The fair value of the revolving credit agreement, including book overdrafts, which approximate book value, was determined using current rates offered for similar obligations taking into account subsidiary credit risk, which is Level 2 as defined in the fair value hierarchy. There were no transfers into or out of Levels 1, 2, or 3 during the three and nine months ended September 30, 2022.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Capital Stock The following table sets forth the Company's authorized capital stock information: SEPTEMBER 30 DECEMBER 31 SEPTEMBER 30 Preferred stock, par value $0.01 per share Preferred stock authorized 5,000 5,000 5,000 Preferred stock outstanding — — — Class A Common stock, par value $0.01 per share Class A Common authorized 70,000 70,000 70,000 Class A Common issued (1)(2) 10,623 10,267 10,245 Treasury Stock 626 365 365 Class B Common stock, par value $0.01 per share, convertible into Class A on a one-for-one basis Class B Common authorized 30,000 30,000 30,000 Class B Common issued (1) 3,860 4,000 4,007 (1) Class B Common converted to Class A Common were 5 and 140 shares during the three and nine months ending September 30, 2022, respectively, and 18 and 38 shares during the three and nine months ending September 30, 2021. (2) The Company issued Class A Common of 26 and 216 shares during the three and nine months ending September 30, 2022, respectively, and 13 and 201 shares during the three and nine months ending September 30, 2021. Stock Repurchase Program: On February 22, 2022, the Company's Board approved a stock repurchase program for the purchase of up to $25 million of the Company's Class A Common outstanding starting February 22, 2022 and ending December 31, 2023. During the three and nine months ended September 30, 2022, the Company repurchased 109,828 and 261,049 shares, respectively, at prevailing market prices for an aggregate purchase price of $1.4 million and $3.0 million, respectively. There were no share repurchases during the three and nine months ended September 30, 2021 or the twelve months ended December 31, 2021. Accumulated Other Comprehensive Loss: The following table summarizes changes in accumulated other comprehensive loss by component and related tax effects for periods shown: Foreign Currency Deferred Gain (Loss) on Cash Flow Hedging Pension Plan Adjustment Total Balance, January 1, 2022 $ (9,877) $ (638) $ (3,728) $ (14,243) Other comprehensive income (loss) 359 2,691 — 3,050 Reclassification adjustment to net income (loss) 1,267 (126) 50 1,191 Tax effects 727 (609) (25) 93 Balance, March 31, 2022 (7,524) 1,318 (3,703) (9,909) Other comprehensive income (loss) (726) 1,789 — 1,063 Reclassification adjustment to net income (loss) — (49) 109 60 Tax effects (60) (407) (25) (492) Balance, June 30, 2022 (8,310) 2,651 (3,619) (9,278) Other comprehensive income (loss) (1,164) 2,584 (5,294) (3,874) Reclassification adjustment to net income (loss) — 290 397 687 Tax effects 6 (701) 1,189 494 Balance, September 30, 2022 $ (9,468) $ 4,824 $ (7,327) $ (11,971) Balance, January 1, 2021 $ (9,775) $ (1,344) $ (6,357) $ (17,476) Other comprehensive income (loss) (276) 222 — (54) Reclassification adjustment to net income (loss) — 182 156 338 Tax effects (79) (115) (43) (237) Balance, March 31, 2021 (10,130) (1,055) (6,244) (17,429) Other comprehensive income (loss) 725 (800) — (75) Reclassification adjustment to net income (loss) — 145 155 300 Tax effects (113) 196 (43) 40 Balance, June 30, 2021 (9,518) (1,514) (6,132) (17,164) Other comprehensive income (loss) (747) 753 — 6 Reclassification adjustment to net income (loss) — 180 190 370 Tax effects 93 (278) (43) (228) Balance, September 30, 2021 $ (10,172) $ (859) $ (5,985) $ (17,016)

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue is recognized when control of the promised goods or services is transferred to the Company's customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services, which includes an estimate for variable consideration. HBB’s warranty program to the consumer consists generally of an assurance-type limited warranty lasting for varying periods of up to ten years for electric appliances, with the majority of products having a warranty of one HBB products are not sold with a general right of return. However, based on historical experience, a portion of products sold are estimated to be returned due to reasons such as product failure and excess inventory stocked by the customer, which, subject to certain terms and conditions, HBB will agree to accept. Product returns, customer programs and incentive offerings, including special pricing agreements, price competition, promotions, and other volume-based incentives are accounted for as variable consideration. A description of revenue sources and performance obligations for HBB are as follows: Consumer and Commercial product revenue Transactions with both consumer and commercial customers generally originate upon the receipt of a purchase order from the customer, which in some cases are governed by master sales agreements, specifying product(s) that the customer desires. Contracts for product revenue have an original duration of one year or less, and payment terms are generally standard and based on customer creditworthiness. Revenue from product sales is recognized at the point in time when control transfers to the customer, which is either when product is shipped from the Company's facility, or delivered to customers, depending on the shipping terms. The amount of revenue recognized varies primarily with price concessions and changes in returns. The Company offers price concessions to its customers for incentive offerings, special pricing agreements, price competition, promotions or other volume-based arrangements. The Company evaluated such agreements with its customers and determined returns and price concessions should be accounted for as variable consideration. Consumer product revenue consists of sales of small electric household and specialty housewares appliances to traditional brick and mortar and ecommerce retailers, distributors and directly to the end consumer. A majority of this revenue is in North America. Commercial product revenue consists of sales of products to restaurants, fast-food chains, bars and hotels. Approximately one-half of commercial sales are in the U.S. and the other half is in markets across the globe. License revenue From time to time, the Company enters into exclusive and non-exclusive licensing agreements which grant the right to use certain of HBB’s intellectual property ("IP") in connection with designing, manufacturing, distributing, advertising, promoting and selling the licensees’ products during the term of the agreement. The IP that is licensed generally consists of trademarks, trade names, patents, trade dress, and/or logos (the “Licensed IP”). In exchange for granting the right to use the Licensed IP, HBB receives a royalty payment, which is a function of (1) the total net sales of products that use the Licensed IP and (2) the royalty percentage that is stated in the licensing agreement. HBB recognizes revenue at the later of when the subsequent sales occur or satisfying the performance obligation (over time). The following table sets forth Company's revenue on a disaggregated basis for the three and nine months ended September 30: THREE MONTHS ENDED NINE MONTHS ENDED 2022 2021 2022 2021 Type of good or service: Consumer products $ 134,813 $ 144,734 $ 395,270 $ 426,463 Commercial products 14,819 10,915 44,992 30,498 Licensing 1,191 1,091 4,439 3,683 Total revenues $ 150,823 $ 156,740 $ 444,701 $ 460,644

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Hamilton Beach Brands Holdings Company and its subsidiaries are involved in various legal and regulatory proceedings and claims that have arisen in the ordinary course of business, including product liability, patent infringement, asbestos related claims, environmental and other claims. Although it is difficult to predict the ultimate outcome of these proceedings and claims, management believes the ultimate disposition of these matters will not have a material adverse effect on the financial condition, results of operation or cash flows of the Company. Any costs that management estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Company does not accrue liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is probable or reasonably possible and which are material, the Company discloses the nature of the contingency and, in some circumstances, an estimate of the possible loss. Proceedings and claims asserted against the Company or its subsidiaries are subject to inherent uncertainties and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of an adverse impact on the Company's financial position, results of operations and cash flows for the period in which the ruling occurs, or in future periods. Hamilton Beach Brands Holding Company (HBBHC) is a defendant in a legal proceeding instituted in February 2020 in which the plaintiff seeks to hold the Company liable for the unsatisfied portion of an agreed final judgment that plaintiff obtained against The Kitchen Collection, LLC ("KC") related to KC’s failure to continue to operate forty-nine stores during the term of the store leases. In February 2020, KC agreed to the entry of a final judgment in favor of the plaintiff in the amount of $8.1 million and in April 2020 the plaintiff received $0.3 million in the final distribution of KC assets to KC creditors. The Company believes that the plaintiff’s claims are without merit and will vigorously defend against plaintiff’s claims. Environmental matters HBB is investigating or remediating historical environmental contamination at some current and former sites operated by HBB or by businesses it acquired. Based on the current stage of the investigation or remediation at each known site, HBB estimates the total investigation and remediation costs and the period of assessment and remediation activity required for each site. The estimate of future investigation and remediation costs is primarily based on variables associated with site clean-up, including, but not limited to, physical characteristics of the site, the nature and extent of the contamination and applicable regulatory programs and remediation standards. No assessment can fully characterize all subsurface conditions at a site. There is no assurance that additional assessment and remediation efforts will not result in adjustments to estimated remediation costs or the time frame for remediation at these sites. HBB's estimates of investigation and remediation costs may change if it discovers contamination at additional sites or additional contamination at known sites, if the effectiveness of its current remediation efforts change, if applicable federal or state regulations change or if HBB's estimate of the time required to remediate the sites changes. HBB's revised estimates may differ materially from original estimates.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The effective tax rate on income was 21.0% and 25.9% for the nine months ended September 30, 2022 and 2021, respectively. The effective tax rate was higher for the nine months ended September 30, 2021 due to the inclusion of interest and penalties on unrecognized tax benefits as a discrete expense item. The interest and penalties on unrecognized tax benefits were reversed during the second quarter of 2022 due to a change in the Company's position on an unresolved Mexico tax matter, favorably impacting the effective tax rate for the nine months ended September 30, 2022, partially offset by a valuation allowance on certain foreign deferred tax assets related to the Brazil liquidation.

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Hamilton Beach Brands Holding Company operates through its wholly-owned subsidiary, Hamilton Beach Brands, Inc. (“HBB”) (collectively “Hamilton Beach Holding” or the “Company”). HBB is a leading designer, marketer, and distributor of branded, small electric household and specialty housewares appliances, as well as commercial products for restaurants, bars, and hotels. HBB operates in the consumer, commercial, and specialty appliance markets. The financial statements have been prepared in accordance with US generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the remainder of the year due to the highly seasonal nature of the Company's primary markets. A majority of revenue and operating profit typically occurs in the second half of the calendar year when sales of products to retailers and consumers historically increase significantly for the fall holiday-selling season.
Accounting Standards Adopted and Accounting Standards Not Yet Adopted	Accounting Standards Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The new accounting rules provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform. During the third quarter of 2022, the Company adopted certain optional expedients provided under Topic 848 that permit its hedging relationships to continue without de-designation upon changes due to reference rate reform. The adoption of this guidance resulted in no material impact to the Company’s consolidated financial statements. The optional expedients and accounting relief in Topic 848 remain effective through December 31, 2022. Accounting Standards Not Yet Adopted The Company is an emerging growth company and has elected not to opt out of the extended transition period for complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public or nonpublic entities, the Company can adopt the new or revised standard at the time nonpublic entities adopt the new or revised standard. We will lose our status as an emerging growth company as of December 31, 2022, the last day of the fiscal year following the fifth anniversary of our spin-off from NACCO Industries, Inc. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)," which requires an entity to recognize assets and liabilities for the rights and obligations created by leased assets. For nonpublic entities, the amendments are currently effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is planning to adopt ASU 2016-02 when required using the modified retrospective transition method applied on the effective date. The Company’s preliminary assessment has focused on the policy elections and practical expedients permitted by the standard. The Company currently anticipates electing to apply the package of practical expedients to all leases that commenced prior to the date of adoption. Based on the analysis performed to date, the Company anticipates making a policy election to not include short-term leases on the Consolidated Balance Sheets and to not separate lease and non-lease components as permitted by the accounting guidance. The assessment is ongoing and the preliminary conclusions are subject to change. We continue to evaluate to what extent ASU 2016-02 will affect the Company's financial position, results of operations, cash flows and related disclosures. The Company expects to record additional material assets and corresponding liabilities related to operating leases in the statement of financial position. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326)," which requires an entity to recognize credit losses as an allowance rather than as a write-down. For nonpublic entities and smaller reporting companies, the amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company is planning to adopt ASU 2016-13 for its year beginning January 1, 2023 and subsequent interim periods and is currently evaluating to what extent ASU 2016-13 will affect the Company's financial position, results of operations, cash flows and related disclosures. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” The new accounting rules reduce complexity by removing specific exceptions to general principles related to intraperiod tax allocations, ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. The new accounting rules also simplify accounting for franchise taxes that are partially based on income, transactions with a government that result in a step up in the tax basis of goodwill, separate financial statements of legal entities that are not subject to tax, and enacted changes in tax laws in interim periods. The Company will adopt ASU 2019-12 for the fiscal year ending December 31, 2022 and the adoption of this guidance is not expected to have a material impact on the Company’s financial condition, results of operations or cash flows.
Assets Held for Sale	Assets Held for SaleDuring the fourth quarter of 2020, the Company committed to a plan to sell its Brazilian subsidiary and determined that it met all of the criteria to classify the assets and liabilities of this business as held for sale. In April 2021, the Company made the decision to wind down the Brazilian subsidiary and enter into a licensing agreement with a third party to service the Brazilian market. The carrying amounts of the assets were reclassified to held and used during the second quarter of 2021.

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company's assets and liabilities accounted for at fair value on a recurring basis: Description Balance Sheet Location SEPTEMBER 30 DECEMBER 31 SEPTEMBER 30 Assets: Interest rate swap agreements Current Prepaid expenses and other current assets $ 894 $ — $ — Long-term Other non-current assets 4,958 — — Foreign currency exchange contracts Current Prepaid expenses and other current assets 522 73 182 $ 6,374 $ 73 $ 182 Liabilities: Interest rate swap agreements Current Other current liabilities $ — $ 216 $ 333 Long-term Other long-term liabilities — 655 864 Foreign currency exchange contracts Current Other current liabilities 50 41 24 $ 50 $ 912 $ 1,221

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Capital Stock	The following table sets forth the Company's authorized capital stock information: SEPTEMBER 30 DECEMBER 31 SEPTEMBER 30 Preferred stock, par value $0.01 per share Preferred stock authorized 5,000 5,000 5,000 Preferred stock outstanding — — — Class A Common stock, par value $0.01 per share Class A Common authorized 70,000 70,000 70,000 Class A Common issued (1)(2) 10,623 10,267 10,245 Treasury Stock 626 365 365 Class B Common stock, par value $0.01 per share, convertible into Class A on a one-for-one basis Class B Common authorized 30,000 30,000 30,000 Class B Common issued (1) 3,860 4,000 4,007 (1) Class B Common converted to Class A Common were 5 and 140 shares during the three and nine months ending September 30, 2022, respectively, and 18 and 38 shares during the three and nine months ending September 30, 2021.
Schedule of Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss: The following table summarizes changes in accumulated other comprehensive loss by component and related tax effects for periods shown: Foreign Currency Deferred Gain (Loss) on Cash Flow Hedging Pension Plan Adjustment Total Balance, January 1, 2022 $ (9,877) $ (638) $ (3,728) $ (14,243) Other comprehensive income (loss) 359 2,691 — 3,050 Reclassification adjustment to net income (loss) 1,267 (126) 50 1,191 Tax effects 727 (609) (25) 93 Balance, March 31, 2022 (7,524) 1,318 (3,703) (9,909) Other comprehensive income (loss) (726) 1,789 — 1,063 Reclassification adjustment to net income (loss) — (49) 109 60 Tax effects (60) (407) (25) (492) Balance, June 30, 2022 (8,310) 2,651 (3,619) (9,278) Other comprehensive income (loss) (1,164) 2,584 (5,294) (3,874) Reclassification adjustment to net income (loss) — 290 397 687 Tax effects 6 (701) 1,189 494 Balance, September 30, 2022 $ (9,468) $ 4,824 $ (7,327) $ (11,971) Balance, January 1, 2021 $ (9,775) $ (1,344) $ (6,357) $ (17,476) Other comprehensive income (loss) (276) 222 — (54) Reclassification adjustment to net income (loss) — 182 156 338 Tax effects (79) (115) (43) (237) Balance, March 31, 2021 (10,130) (1,055) (6,244) (17,429) Other comprehensive income (loss) 725 (800) — (75) Reclassification adjustment to net income (loss) — 145 155 300 Tax effects (113) 196 (43) 40 Balance, June 30, 2021 (9,518) (1,514) (6,132) (17,164) Other comprehensive income (loss) (747) 753 — 6 Reclassification adjustment to net income (loss) — 180 190 370 Tax effects 93 (278) (43) (228) Balance, September 30, 2021 $ (10,172) $ (859) $ (5,985) $ (17,016)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table sets forth Company's revenue on a disaggregated basis for the three and nine months ended September 30: THREE MONTHS ENDED NINE MONTHS ENDED 2022 2021 2022 2021 Type of good or service: Consumer products $ 134,813 $ 144,734 $ 395,270 $ 426,463 Commercial products 14,819 10,915 44,992 30,498 Licensing 1,191 1,091 4,439 3,683 Total revenues $ 150,823 $ 156,740 $ 444,701 $ 460,644

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Aug. 15, 2022	Dec. 31, 2021	Sep. 17, 2021
Defined Benefit Plan Disclosure [Line Items]
Reclassification of foreign currency adjustments into earnings	$ 0	$ 2,100	$ 0	$ 2,085	$ 0
Insurance recoveries		10,000
Fidelity insurance, loss recovery, policy maximum		$ 10,000
Debt instrument, period for increase in credit facility				90 days
Line of credit facility, maximum borrowing capacity						$ 165,000		$ 150,000
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pre-tax pension settlement loss	300
Pension settlement loss, after tax	$ 200
Pension gain (loss) after tax (in dollars per share)	$ 0.01
Decrease in pension benefit obligation	$ 2,600
Decrease in fair value of pension plan assets	6,600
UNITED STATES | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum termination and settlement period				24 months
Defined benefit plan, funded (unfunded) status of plan	$ 12,000		$ 13,400	$ 12,000	$ 13,400		$ 16,000

Transfer of Financial Assets (D

Transfer of Financial Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Transfers and Servicing [Abstract]
Accounts receivable derecognized	$ 28.7	$ 28.1	$ 81	$ 94.1	$ 140.7

Fair Value Disclosure (Details)

Fair Value Disclosure (Details) - Fair value measurements, recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Assets:
Assets at fair value	$ 6,374	$ 73	$ 182
Liabilities:
Liabilities at fair value	50	912	1,221
Prepaid expenses and other current assets
Assets:
Interest rate swap agreements	894	0	0
Foreign currency exchange contracts	522	73	182
Other non-current assets
Assets:
Interest rate swap agreements	4,958	0	0
Other current liabilities
Liabilities:
Interest rate swap agreements	0	216	333
Foreign currency exchange contracts	50	41	24
Other long-term liabilities
Liabilities:
Interest rate swap agreements	$ 0	$ 655	$ 864

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Capital Stock (Details)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2022 $ / shares shares	Mar. 31, 2022 shares	Sep. 30, 2021 $ / shares shares	Sep. 30, 2022 $ / shares shares	Sep. 30, 2021 $ / shares shares	Dec. 31, 2021 $ / shares shares
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	5,000,000		5,000,000	5,000,000	5,000,000	5,000,000
Preferred stock outstanding (in shares)	0		0	0	0	0
Treasury Stock (in shares)	109,828		0	261,049	0	0
Class A Common stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock authorized (in shares)	70,000,000		70,000,000	70,000,000	70,000,000	70,000,000
Common stock issued (in shares)	10,623,000		10,245,000	10,623,000	10,245,000	10,267,000
Treasury Stock (in shares)		365,000		626,000	365,000
Class A Common shares issued (in shares)	26,000		13,000	216,000	201,000
Class B Common stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, convertible conversion ratio	1		1	1	1	1
Common stock authorized (in shares)	30,000,000		30,000,000	30,000,000	30,000,000	30,000,000
Common stock issued (in shares)	3,860,000		4,007,000	3,860,000	4,007,000	4,000,000
Class B Common converted to Class A Common (in shares)	5,000		18,000	140,000	38,000

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Feb. 22, 2022
Class of Stock [Line Items]
Treasury stock, shares, acquired	109,828		0	261,049	0	0
Treasury stock, value, acquired, cost method	$ 1.4			$ 3
Shares Outstanding Class A
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased							25,000,000
Treasury stock, shares, acquired		365,000		626,000	365,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 102,279
Other comprehensive income (loss)	$ (3,874)	$ 1,063	3,050	$ 6	$ (75)	$ (54)
Reclassification adjustment to net income (loss)	687	60	1,191	370	300	338
Tax effects	494	(492)	93	(228)	40	(237)
Ending balance	117,949			87,905
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,278)	(9,909)	(14,243)	(17,164)	(17,429)	(17,476)
Ending balance	(11,971)	(9,278)	(9,909)	(17,016)	(17,164)	(17,429)
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8,310)	(7,524)	(9,877)	(9,518)	(10,130)	(9,775)
Other comprehensive income (loss)	(1,164)	(726)	359	(747)	725	(276)
Reclassification adjustment to net income (loss)	0	0	1,267	0	0	0
Tax effects	6	(60)	727	93	(113)	(79)
Ending balance	(9,468)	(8,310)	(7,524)	(10,172)	(9,518)	(10,130)
Deferred Gain (Loss) on Cash Flow Hedging
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,651	1,318	(638)	(1,514)	(1,055)	(1,344)
Other comprehensive income (loss)	2,584	1,789	2,691	753	(800)	222
Reclassification adjustment to net income (loss)	290	(49)	(126)	180	145	182
Tax effects	(701)	(407)	(609)	(278)	196	(115)
Ending balance	4,824	2,651	1,318	(859)	(1,514)	(1,055)
Pension Plan Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,619)	(3,703)	(3,728)	(6,132)	(6,244)	(6,357)
Other comprehensive income (loss)	(5,294)	0	0	0	0	0
Reclassification adjustment to net income (loss)	397	109	50	190	155	156
Tax effects	1,189	(25)	(25)	(43)	(43)	(43)
Ending balance	$ (7,327)	$ (3,619)	$ (3,703)	$ (5,985)	$ (6,132)	$ (6,244)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 150,823	$ 156,740	$ 444,701	$ 460,644
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | UNITED STATES
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			50%
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | Non-US
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			50%
Consumer products
Disaggregation of Revenue [Line Items]
Revenue	134,813	144,734	$ 395,270	426,463
Commercial products
Disaggregation of Revenue [Line Items]
Revenue	14,819	10,915	44,992	30,498
Licensing
Disaggregation of Revenue [Line Items]
Revenue	$ 1,191	$ 1,091	$ 4,439	$ 3,683
Minimum | Other products
Disaggregation of Revenue [Line Items]
Warranty term			1 year
Maximum | Electric appliances
Disaggregation of Revenue [Line Items]
Warranty term			10 years
Maximum | Other products
Disaggregation of Revenue [Line Items]
Warranty term			3 years
Maximum | Consumer products
Disaggregation of Revenue [Line Items]
Revenue contract duration			1 year
Maximum | Commercial products
Disaggregation of Revenue [Line Items]
Revenue contract duration			1 year

Contingencies (Details)

Contingencies (Details) $ in Millions	1 Months Ended
	Apr. 30, 2020 USD ($)	Feb. 29, 2020 USD ($) lease	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)
Loss Contingencies [Line Items]
Number of leases allegedly breached | lease		49
Amount of final judgment		$ 8.1
Amount awarded to plaintiff	$ 0.3
Accrual for environmental investigation and remediation activities			$ 3.3	$ 3.4	$ 3.4
Minimum
Loss Contingencies [Line Items]
Estimate of additional expenses			0
Maximum
Loss Contingencies [Line Items]
Estimate of additional expenses			$ 1.6

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	21%	25.90%