Hamilton Beach Brands Holding (HBB) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 27, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	false
Entity Shell Company	false
Entity Central Index Key	0001709164
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,368,143
Class B Common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,625,028

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Current assets
Cash and cash equivalents	$ 1,624	$ 928	$ 1,504
Trade receivables, net	102,178	115,135	97,802
Inventory	160,237	156,038	244,464
Prepaid expenses and other current assets	14,417	12,643	13,295
Total current assets	278,456	284,744	357,065
Property, plant and equipment, net	27,493	27,830	28,363
Right-of-use lease assets	40,590	44,000	44,933
Goodwill	6,253	6,253	6,253
Other intangible assets, net	1,342	1,492	1,542
Deferred income taxes	2,577	3,117	1,800
Deferred costs	14,419	14,348	14,465
Other non-current assets	7,790	7,166	7,432
Total assets	378,920	388,950	461,853
Current liabilities
Accounts payable	116,124	61,759	111,485
Accrued compensation	11,025	11,310	10,543
Accrued product returns	5,801	6,474	4,651
Lease liabilities	6,136	5,875	5,678
Other current liabilities	12,776	16,150	12,553
Total current liabilities	151,862	101,568	144,910
Revolving credit agreements	51,276	110,895	146,051
Lease liabilities, non-current	43,303	46,801	47,989
Other long-term liabilities	4,659	5,152	4,954
Total liabilities	251,100	264,416	343,904
Stockholders’ equity
Capital in excess of par value	68,180	65,008	64,117
Treasury stock	(10,409)	(8,939)	(8,939)
Retained earnings	81,362	80,238	74,597
Accumulated other comprehensive loss	(11,461)	(11,918)	(11,971)
Total stockholders’ equity	127,820	124,534	117,949
Total liabilities and stockholders’ equity	378,920	388,950	461,853
Class A Common stock
Stockholders’ equity
Common stock	112	107	106
Class B Common stock
Stockholders’ equity
Common stock	$ 36	$ 38	$ 39

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 153,614	$ 150,823	$ 418,975	$ 444,701
Cost of sales	113,548	115,979	330,583	349,649
Gross profit	40,066	34,844	88,392	95,052
Selling, general and administrative expenses	25,591	25,425	78,150	67,361
Amortization of intangible assets	50	50	150	150
Operating profit (loss)	14,425	9,369	10,092	27,541
Interest expense, net	592	1,289	2,634	2,889
Other expense (income), net	645	432	390	1,646
Income (loss) before income taxes	13,188	7,648	7,068	23,006
Income tax expense (benefit)	2,848	1,741	1,395	4,837
Net income (loss)	$ 10,340	$ 5,907	$ 5,673	$ 18,169
Basic earnings (loss) per share (in dollars per share)	$ 0.74	$ 0.43	$ 0.40	$ 1.30
Diluted earnings (loss) per share (in dollars per share)	$ 0.74	$ 0.43	$ 0.40	$ 1.30
Basic weighted average shares outstanding (in shares)	14,025	13,869	14,060	13,999
Diluted weighted average shares outstanding (in shares)	14,050	13,892	14,085	14,026

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 10,340	$ 5,907	$ 5,673	$ 18,169
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(661)	(1,144)	(182)	(3,260)
(Loss) gain on long-term intra-entity foreign currency transactions	0	(14)	653	1,584
Cash flow hedging activity	249	1,963	(1,213)	5,384
Reclassification of foreign currency adjustments into earnings	0	0	0	2,085
Reclassification of hedging activities into earnings	473	210	1,002	78
Pension plan adjustment	0	(4,013)	0	(4,013)
Reclassification of pension adjustments into earnings	73	305	197	414
Total other comprehensive income (loss), net of tax	134	(2,693)	457	2,272
Comprehensive income (loss)	$ 10,474	$ 3,214	$ 6,130	$ 20,441

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net income (loss)	$ 5,673	$ 18,169
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	3,078	3,552
Deferred income taxes	0	912
Stock compensation expense	3,175	2,533
Brazil foreign currency loss	0	2,085
Other	(172)	898
Net changes in operating assets and liabilities:
Trade receivables	13,678	21,370
Inventory	(3,379)	(63,328)
Other assets	2,333	5,937
Accounts payable	54,013	(20,150)
Other liabilities	(9,716)	(12,151)
Net cash provided by (used for) operating activities	68,683	(40,173)
Investing activities
Expenditures for property, plant and equipment	(2,286)	(1,560)
Other	(150)	0
Net cash provided by (used for) investing activities	(2,436)	(1,560)
Financing activities
Net additions (reductions) to revolving credit agreements	(59,650)	49,604
Purchase of treasury stock	(1,470)	(2,979)
Cash dividends paid	(4,549)	(4,325)
Financing fees paid	0	(47)
Net cash provided by (used for) financing activities	(65,669)	42,253
Effect of exchange rate changes on cash, cash equivalents and restricted cash	81	(204)
Cash, cash equivalents and restricted cash
Increase (decrease) for the period	659	316
Balance at the beginning of the period	1,905	2,150
Balance at the end of the period	2,564	2,466
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	1,624	1,504
Restricted cash included in prepaid expenses and other current assets	24	58
Restricted cash included in other non-current assets	916	904
Total cash, cash equivalents and restricted cash	$ 2,564	$ 2,466

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock Class A Common stock	Common Stock Class B Common stock	Capital in Excess of Par Value	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2021	$ 102,279	$ 103	$ 40	$ 61,586	$ (5,960)	$ 60,753	$ (14,243)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,173					7,173
Issuance of common stock, net of conversions	0	2	(1)	(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
Ending balance at Mar. 31, 2022	113,158	105	39	62,349	(5,960)	66,534	(9,909)
Beginning balance at Dec. 31, 2021	102,279	103	40	61,586	(5,960)	60,753	(14,243)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	18,169
Ending balance at Sep. 30, 2022	117,949	106	39	64,117	(8,939)	74,597	(11,971)
Beginning balance at Mar. 31, 2022	113,158	105	39	62,349	(5,960)	66,534	(9,909)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,089					5,089
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
Purchase of treasury stock	(1,640)				(1,640)
Ending balance at Jun. 30, 2022	116,802	106	39	63,390	(7,600)	70,145	(9,278)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,907					5,907
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
Purchase of treasury stock	(1,339)				(1,339)
Ending balance at Sep. 30, 2022	117,949	106	39	64,117	(8,939)	74,597	(11,971)
Beginning balance at Dec. 31, 2022	124,534	107	38	65,008	(8,939)	80,238	(11,918)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,777)					(4,777)
Issuance of common stock, net of conversions	0	4	(2)	(2)
Share-based compensation expense	797			797
Cash dividends	(1,460)					(1,460)
Other comprehensive income (loss), net of tax	(916)						(916)
Reclassification adjustment to net income (loss)	251						251
Ending balance at Mar. 31, 2023	118,429	111	36	65,803	(8,939)	74,001	(12,583)
Beginning balance at Dec. 31, 2022	124,534	107	38	65,008	(8,939)	80,238	(11,918)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,673
Ending balance at Sep. 30, 2023	127,820	112	36	68,180	(10,409)	81,362	(11,461)
Beginning balance at Mar. 31, 2023	118,429	111	36	65,803	(8,939)	74,001	(12,583)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	110					110
Share-based compensation expense	962			962
Cash dividends	(1,548)					(1,548)
Other comprehensive income (loss), net of tax	586						586
Reclassification adjustment to net income (loss)	402						402
Purchase of treasury stock	(575)				(575)
Ending balance at Jun. 30, 2023	118,366	111	36	66,765	(9,514)	72,563	(11,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	10,340					10,340
Issuance of common stock, net of conversions	0	1		(1)
Share-based compensation expense	1,416			1,416
Cash dividends	(1,541)					(1,541)
Other comprehensive income (loss), net of tax	(412)						(412)
Reclassification adjustment to net income (loss)	546						546
Purchase of treasury stock	(895)				(895)
Ending balance at Sep. 30, 2023	$ 127,820	$ 112	$ 36	$ 68,180	$ (10,409)	$ 81,362	$ (11,461)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.11	$ 0.11	$ 0.105	$ 0.105	$ 0.105	$ 0.10

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2023
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 (“HBBHC”) is a holding company and operates through its indirect, wholly-owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”) (collectively the “Company”). HBB is a leading designer, marketer and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars and hotels. HBB operates in the consumer, commercial and specialty small appliance markets. The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. 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, 2022. Operating results for the nine months ended September 30, 2023 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 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. The Company previously qualified as an emerging growth company and elected to use the extended transition period for complying with new and revised financial accounting standards. The amendments were effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. On January 1, 2022, the Company adopted Topic 842. The impacts of the adoption were reflected in the Annual Report on Form 10-K for the year ended December 31, 2022. The Company lost the emerging growth company status as of December 31, 2022, the last day of the fiscal year following the fifth anniversary of its spin-off from NACCO Industries, Inc. The Consolidated Balance Sheet as of September 30, 2022 and the Consolidated Statement of Cash Flows for the nine months ended September 30, 2022 have been revised to reflect the Company’s adoption of Topic 842 on January 1, 2022. U.S. Pension Plan Termination In the second quarter of 2022, the Company began the process of terminating its U.S. defined benefit pension plan (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. The Plan continues to be overfunded and t he 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. The deferred loss within Accumulated Other Comprehensive Income will be recognized fully when the plan is terminated or as settlements occur, which would trigger accelerated recognition.

Transfer of Financial Assets

Transfer of Financial Assets	9 Months Ended
	Sep. 30, 2023
Transfers and Servicing [Abstract]
Transfer of Financial Assets	Transfer of Financial Assets HBB has entered into an arrangement with a financial institution to sell certain U.S. trade receivables on a non-recourse basis. Under the terms of the agreement, HBB receives cash proceeds and retains no rights or interest and has no obligations with respect to the sold receivables. These transactions, which are accounted for as sold receivables, 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, HBB derecognized $30.7 million and $90.0 million of trade receivables during the three and nine months ending September 30, 2023, respectively, $28.7 million and $81.0 million of trade receivables during the three and nine months ending September 30, 2022, respectively, and $118.5 million during the year ending December 31, 2022. The loss incurred on sold receivables in the consolidated results of operations for the three and nine months ended September 30, 2023 and 2022 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, 2023
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 $ 929 $ 837 $ 894 Long-term Other non-current assets 4,977 4,539 4,958 Foreign currency exchange contracts Current Prepaid expenses and other current assets 87 174 522 $ 5,993 $ 5,550 $ 6,374 Liabilities: Foreign currency exchange contracts Current Other current liabilities 331 101 50 $ 331 $ 101 $ 50 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 Secured Overnight Financing Rate (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. The Company also incorporates the effect of HBB 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 HBB’s $150.0 million senior secured floating-rate revolving credit facility (the “HBB Facility”), including book overdrafts, which approximate book value, was determined using current rates offered for similar obligations taking into account HBB’s 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, 2023.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2023
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) 11,126 10,663 10,623 Treasury Stock 766 626 626 Class B Common stock, par value $0.01 per share, convertible into Class A Common stock on a one-for-one basis Class B Common authorized 30,000 30,000 30,000 Class B Common issued (1) 3,625 3,844 3,860 (1) Class B Common converted to Class A Common were 4 and 219 shares during the three and nine months ending September 30, 2023, respectively, and 5 and 140 during the three and nine months ending September 30, 2022. (2) The Company issued Class A Common of 28 and 244 shares during the three and nine months ending September 30, 2023, respectively, and 26 and 216 shares during the three and nine months ending September 30, 2022. Stock Repurchase Program: In February 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, 2023, the Company repurchased 82,676 and 139,649 shares, respectively, at prevailing market prices for an aggregate purchase price of $0.9 million and $1.5 million, respectively. 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. During the year ended December 31, 2022, the Company repurchased 261,049 shares for an aggregate purchase price of $3.0 million. As of September 30, 2023, the Company had $20.5 million remaining authorized for repurchase. 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, 2023 $ (8,924) $ 4,158 $ (7,152) $ (11,918) Other comprehensive income (loss) 715 (1,881) — (1,166) Reclassification adjustment to net income (loss) — 252 87 339 Tax effects (194) 379 (23) 162 Balance, March 31, 2023 (8,403) 2,908 (7,088) (12,583) Other comprehensive income (loss) 425 (59) — 366 Reclassification adjustment to net income (loss) — 465 83 548 Tax effects 186 (89) (23) 74 Balance, June 30, 2023 (7,792) 3,225 (7,028) (11,595) Other comprehensive income (loss) (661) 329 — (332) Reclassification adjustment to net income (loss) — 648 95 743 Tax effects — (255) (22) (277) Balance, September 30, 2023 $ (8,453) $ 3,947 $ (6,955) $ (11,461) 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)

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
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. Subject to certain terms and conditions, however, HBB will agree to accept a portion of products sold that, based on historical experience, are estimated to be returned for reasons such as product failure and excess inventory stocked by the customer. 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 a 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 a 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 for restaurants, fast-food chains, bars and hotels. Approximately one-half of the Company’s commercial sales is 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, logos and/or products (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 when the performance obligation is satisfied (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 2023 2022 2023 2022 Type of good or service: Consumer products $ 138,849 $ 134,813 $ 374,842 $ 395,270 Commercial products 13,159 14,819 40,234 44,992 Licensing 1,606 1,191 3,899 4,439 Total revenues $ 153,614 $ 150,823 $ 418,975 $ 444,701

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is 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, the Company 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 the Company estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount of such costs 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 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 and on the results of operations and cash flows for the period in which the ruling occurs, or in future periods. 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 current estimates may differ materially from original estimates. As of September 30, 2023, December 31, 2022 and September 30, 2022, HBB had accrued undiscounted obligations of $3.4 million, $3.2 million and $3.3 million, respectively, for environmental investigation and remediation activities. HBB estimates that it is reasonably possible that it may incur additional expenses in the range of zero to $1.4 million related to the environmental investigation and remediation at these sites. As of September 30, 2023, HBB has $0.9 million, classified as restricted cash, associated with reimbursement of environmental investigation and remediation costs from a responsible party in exchange for release from all future obligations for one site. Additionally, HBB has a $1.3 million asset associated with the reimbursement of costs associated with two sites.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
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 was 21.6% and 22.8% on income for the three months ended September 30, 2023 and 2022, respectively. The effective tax rate was lower in the three months ended September 30, 2023 due to a discrete benefit on foreign income in the current year.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 8—Subsequent Events On October 27, 2023, HealthBeacon Private Limited Company (“HealthBeacon”), a Dublin-based medical technology firm and strategic partner of HBB, entered Examinership, an Irish statutory framework for restructuring companies in financial difficulty. Upon the appointment of the interim Examiner, HBB entered into a Facility Agreement with HealthBeacon, pursuant to which HBB will make secured loans to HealthBeacon in increments of at least 0.25 million euros, up to a total amount of 1.85 million euros (approximately $2.0 million), to fund its operations during the Examinership. As of November 1, 2023, 0.3 million euros (approximately $0.3 million) was outstanding under the Facility Agreement. No amount was outstanding as of September 30, 2023. The Facility Agreement requires HealthBeacon to repay the loans no later than 120 days after the commencement of the Examinership, unless extended at the sole discretion of HBB.

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Hamilton Beach Brands Holding Company (“HBBHC”) is a holding company and operates through its indirect, wholly-owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”) (collectively the “Company”). HBB is a leading designer, marketer and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars and hotels. HBB operates in the consumer, commercial and specialty small appliance markets. The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. 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, 2022. Operating results for the nine months ended September 30, 2023 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	Accounting Standards AdoptedIn 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. The Company previously qualified as an emerging growth company and elected to use the extended transition period for complying with new and revised financial accounting standards. The amendments were effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. On January 1, 2022, the Company adopted Topic 842. The impacts of the adoption were reflected in the Annual Report on Form 10-K for the year ended December 31, 2022. The Company lost the emerging growth company status as of December 31, 2022, the last day of the fiscal year following the fifth anniversary of its spin-off from NACCO Industries, Inc. The Consolidated Balance Sheet as of September 30, 2022 and the Consolidated Statement of Cash Flows for the nine months ended September 30, 2022 have been revised to reflect the Company’s adoption of Topic 842 on January 1, 2022.

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2023
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 $ 929 $ 837 $ 894 Long-term Other non-current assets 4,977 4,539 4,958 Foreign currency exchange contracts Current Prepaid expenses and other current assets 87 174 522 $ 5,993 $ 5,550 $ 6,374 Liabilities: Foreign currency exchange contracts Current Other current liabilities 331 101 50 $ 331 $ 101 $ 50

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2023
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) 11,126 10,663 10,623 Treasury Stock 766 626 626 Class B Common stock, par value $0.01 per share, convertible into Class A Common stock on a one-for-one basis Class B Common authorized 30,000 30,000 30,000 Class B Common issued (1) 3,625 3,844 3,860 (1) Class B Common converted to Class A Common were 4 and 219 shares during the three and nine months ending September 30, 2023, respectively, and 5 and 140 during the three and nine months ending September 30, 2022. (2) The Company issued Class A Common of 28 and 244 shares during the three and nine months ending September 30, 2023, respectively, and 26 and 216 shares during the three and nine months ending September 30, 2022.
Schedule of 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, 2023 $ (8,924) $ 4,158 $ (7,152) $ (11,918) Other comprehensive income (loss) 715 (1,881) — (1,166) Reclassification adjustment to net income (loss) — 252 87 339 Tax effects (194) 379 (23) 162 Balance, March 31, 2023 (8,403) 2,908 (7,088) (12,583) Other comprehensive income (loss) 425 (59) — 366 Reclassification adjustment to net income (loss) — 465 83 548 Tax effects 186 (89) (23) 74 Balance, June 30, 2023 (7,792) 3,225 (7,028) (11,595) Other comprehensive income (loss) (661) 329 — (332) Reclassification adjustment to net income (loss) — 648 95 743 Tax effects — (255) (22) (277) Balance, September 30, 2023 $ (8,453) $ 3,947 $ (6,955) $ (11,461) 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)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
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 2023 2022 2023 2022 Type of good or service: Consumer products $ 138,849 $ 134,813 $ 374,842 $ 395,270 Commercial products 13,159 14,819 40,234 44,992 Licensing 1,606 1,191 3,899 4,439 Total revenues $ 153,614 $ 150,823 $ 418,975 $ 444,701

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Outstanding payment obligations		$ 72.8	$ 23.3	$ 51.2
Pension Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Maximum termination and settlement period	24 months

Transfer of Financial Assets (D

Transfer of Financial Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Transfers and Servicing [Abstract]
Accounts receivable derecognized	$ 30.7	$ 28.7	$ 90	$ 81	$ 118.5
Loss on sale of accounts receivable	$ 0	$ 0	$ 0	$ 0

Fair Value Disclosure (Details)

Fair Value Disclosure (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Letter of Credit | HBB Facility
Liabilities:
Line of credit facility, maximum borrowing capacity	$ 150,000
Fair value measurements, recurring
Assets:
Assets at fair value	5,993	$ 5,550	$ 6,374
Liabilities:
Liabilities at fair value	331	101	50
Fair value measurements, recurring | Prepaid expenses and other current assets
Assets:
Interest rate swap agreements	929	837	894
Foreign currency exchange contracts	87	174	522
Fair value measurements, recurring | Other non-current assets
Assets:
Interest rate swap agreements	4,977	4,539	4,958
Fair value measurements, recurring | Other current liabilities
Liabilities:
Foreign currency exchange contracts	$ 331	$ 101	$ 50

Stockholders_ Equity - Schedule

Stockholders’ Equity - Schedule of Capital Stock (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 $ / shares shares	Sep. 30, 2022 $ / shares shares	Sep. 30, 2023 $ / shares shares	Sep. 30, 2022 $ / shares shares	Dec. 31, 2022 $ / 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
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)	11,126,000	10,623,000	11,126,000	10,623,000	10,663,000
Treasury Stock (in shares)			766,000	626,000	626,000
Class A Common shares issued (in shares)	28,000	26,000	244,000	216,000
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)	3,625,000	3,860,000	3,625,000	3,860,000	3,844,000
Class B Common converted to Class A Common (in shares)	4,000	5,000	219,000	140,000

Stockholders_ Equity - Stock Re

Stockholders’ Equity - Stock Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Feb. 28, 2022
Class of Stock [Line Items]
Stock repurchased (in shares)	82,676	109,828	139,649	261,049	261,049
Aggregate purchase price	$ 0.9	$ 1.4	$ 1.5	$ 3	$ 3
Remaining authorized repurchase amount	$ 20.5		$ 20.5
Shares Outstanding Class A
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased						25,000,000

Stockholders_ Equity - Schedu_2

Stockholders’ Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 118,366	$ 118,429	$ 124,534	$ 116,802	$ 113,158	$ 102,279
Other comprehensive income (loss)	(332)	366	(1,166)	(3,874)	1,063	3,050
Reclassification adjustment to net income (loss)	743	548	339	687	60	1,191
Tax effects	(277)	74	162	494	(492)	93
Ending balance	127,820	118,366	118,429	117,949	116,802	113,158
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(11,595)	(12,583)	(11,918)	(9,278)	(9,909)	(14,243)
Ending balance	(11,461)	(11,595)	(12,583)	(11,971)	(9,278)	(9,909)
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7,792)	(8,403)	(8,924)	(8,310)	(7,524)	(9,877)
Other comprehensive income (loss)	(661)	425	715	(1,164)	(726)	359
Reclassification adjustment to net income (loss)	0	0	0	0	0	1,267
Tax effects	0	186	(194)	6	(60)	727
Ending balance	(8,453)	(7,792)	(8,403)	(9,468)	(8,310)	(7,524)
Deferred Gain (Loss) on Cash Flow Hedging
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,225	2,908	4,158	2,651	1,318	(638)
Other comprehensive income (loss)	329	(59)	(1,881)	2,584	1,789	2,691
Reclassification adjustment to net income (loss)	648	465	252	290	(49)	(126)
Tax effects	(255)	(89)	379	(701)	(407)	(609)
Ending balance	3,947	3,225	2,908	4,824	2,651	1,318
Pension Plan Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7,028)	(7,088)	(7,152)	(3,619)	(3,703)	(3,728)
Other comprehensive income (loss)	0	0	0	(5,294)	0	0
Reclassification adjustment to net income (loss)	95	83	87	397	109	50
Tax effects	(22)	(23)	(23)	1,189	(25)	(25)
Ending balance	$ (6,955)	$ (7,028)	$ (7,088)	$ (7,327)	$ (3,619)	$ (3,703)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 153,614	$ 150,823	$ 418,975	$ 444,701
Consumer products
Disaggregation of Revenue [Line Items]
Revenue	138,849	134,813	374,842	395,270
Commercial products
Disaggregation of Revenue [Line Items]
Revenue	13,159	14,819	$ 40,234	44,992
Commercial products | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | United States
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			50%
Commercial products | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | Non-US
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			50%
Licensing
Disaggregation of Revenue [Line Items]
Revenue	$ 1,606	$ 1,191	$ 3,899	$ 4,439
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	9 Months Ended
	Sep. 30, 2023 USD ($) numberOfSite	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Accrual for environmental investigation and remediation activities	$ 3.4	$ 3.2	$ 3.3
Portion of loss contingency proceeds representing restricted cash	0.9
Asset associated with reimbursement of costs	$ 1.3
Loss contingency, number of sites associated with cost reimbursement | numberOfSite	2
Minimum
Loss Contingencies [Line Items]
Estimate of additional expenses	$ 0
Maximum
Loss Contingencies [Line Items]
Estimate of additional expenses	$ 1.4

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate on income, percent	21.60%	22.80%	19.70%	21%

Subsequent Events (Details)

Subsequent Events (Details) - Secured Debt - Facility Agreement - HealthBeacon € in Thousands, $ in Millions	Oct. 27, 2023 EUR (€)	Nov. 01, 2023 EUR (€)	Nov. 01, 2023 USD ($)	Oct. 27, 2023 USD ($)	Sep. 30, 2023 USD ($)
Subsequent Event [Line Items]
Amount of debt outstanding | $					$ 0
Subsequent Event
Subsequent Event [Line Items]
Total amount of debt entered into	€ 1,850			$ 2
Amount of debt outstanding		€ 300	$ 0.3
Debt repayment period	120 days
Subsequent Event | Minimum
Subsequent Event [Line Items]
Total amount of debt entered into | €	€ 250