Hamilton Beach Brands Holding (HBB) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,098,373
Class B Common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,606,543

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 22,602	$ 15,370	$ 1,624
Trade receivables, net	99,049	135,434	102,178
Inventory	164,802	126,554	160,237
Prepaid expenses and other current assets	18,912	9,457	14,417
Total current assets	305,365	286,815	278,456
Property, plant and equipment, net	35,238	27,401	27,493
Right-of-use lease assets	36,627	39,423	40,590
Goodwill	7,099	6,253	6,253
Other intangible assets, net	2,179	1,292	1,342
Deferred income taxes	2,187	2,581	2,577
Deferred costs	15,434	14,613	14,419
Other non-current assets	4,540	6,324	7,790
Total assets	408,669	384,702	378,920
Current liabilities
Accounts payable	128,489	99,704	116,124
Revolving credit agreements	50,000	0	0
Accrued compensation	12,622	14,948	11,025
Accrued product returns	6,616	6,232	5,801
Lease liabilities	5,584	6,155	6,136
Other current liabilities	10,130	12,549	12,776
Total current liabilities	213,441	139,588	151,862
Revolving credit agreements	0	50,000	51,276
Lease liabilities, non-current	39,528	41,937	43,303
Other long-term liabilities	5,749	5,910	4,659
Total liabilities	258,718	237,435	251,100
Stockholders’ equity
Preferred stock, par value $0.01 per share	0	0	0
Capital in excess of par value	77,779	70,401	68,180
Treasury stock	(21,878)	(12,013)	(10,409)
Retained earnings	101,430	99,398	81,362
Accumulated other comprehensive loss	(7,531)	(10,667)	(11,461)
Total stockholders’ equity	149,951	147,267	127,820
Total liabilities and stockholders’ equity	408,669	384,702	378,920
Class A Common stock
Stockholders’ equity
Common stock	115	112	112
Class B Common stock
Stockholders’ equity
Common stock	$ 36	$ 36	$ 36

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 156,667	$ 153,614	$ 441,184	$ 418,975
Cost of sales	112,765	113,548	326,732	330,583
Gross profit	43,902	40,066	114,452	88,392
Selling, general and administrative expenses	33,251	25,591	94,595	78,150
Amortization of intangible assets	31	50	224	150
Operating profit (loss)	10,620	14,425	19,633	10,092
Interest expense, net	59	592	330	2,634
Pension termination expense	7,595	0	7,595	0
Other expense (income), net	298	645	1,354	390
Income (loss) before income taxes	2,668	13,188	10,354	7,068
Income tax expense (benefit)	732	2,848	3,594	1,395
Net income (loss)	$ 1,936	$ 10,340	$ 6,760	$ 5,673
Basic earnings (loss) per share (in dollars per share)	$ 0.14	$ 0.74	$ 0.48	$ 0.40
Diluted earnings (loss) per share (in dollars per share)	$ 0.14	$ 0.74	$ 0.48	$ 0.40
Basic weighted average shares outstanding (in shares)	13,852	14,025	14,042	14,060
Diluted weighted average shares outstanding (in shares)	13,863	14,050	14,056	14,085

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,936	$ 10,340	$ 6,760	$ 5,673
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(516)	(661)	(3,481)	(182)
(Loss) gain on long-term intra-entity foreign currency transactions	0	0	0	653
Cash flow hedging activity	(741)	249	851	(1,213)
Reclassification of hedging activities into earnings	(237)	473	(756)	1,002
Pension plan adjustment	695	0	695	0
Reclassification related to pension termination activity into earnings	5,658	0	5,658	0
Reclassification of pension adjustments into earnings	37	73	169	197
Total other comprehensive income (loss), net of tax	4,896	134	3,136	457
Comprehensive income (loss)	$ 6,832	$ 10,474	$ 9,896	$ 6,130

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income (loss)	$ 6,760	$ 5,673
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	3,744	3,078
Stock compensation expense	7,381	3,175
Pension termination expense	7,595	0
Other	3,206	(172)
Net changes in operating assets and liabilities:
Trade receivables	34,599	13,678
Inventory	(43,687)	(3,379)
Other assets	(3,321)	2,333
Accounts payable	29,425	54,013
Other liabilities	(10,525)	(9,716)
Net cash provided by (used for) operating activities	35,177	68,683
Investing activities
Expenditures for property, plant and equipment	(2,347)	(2,286)
Acquisition of business, net of cash acquired	(7,412)	0
Issuance of secured loan	(600)	0
Repayment of secured loan	2,205	0
Purchase of U.S. Treasury bill	(4,884)	0
Other	0	(150)
Net cash provided by (used for) investing activities	(13,038)	(2,436)
Financing activities
Net additions (reductions) to revolving credit agreements	0	(59,650)
Purchase of treasury stock	(9,865)	(1,470)
Cash dividends paid	(4,728)	(4,549)
Net cash provided by (used for) financing activities	(14,593)	(65,669)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(390)	81
Cash, cash equivalents and restricted cash
Increase (decrease) for the period	7,156	659
Balance at the beginning of the period	16,379	1,905
Balance at the end of the period	23,535	2,564
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	22,602	1,624
Restricted cash included in prepaid expenses and other current assets	63	24
Restricted cash included in other non-current assets	870	916
Total cash, cash equivalents and restricted cash	$ 23,535	$ 2,564

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - 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, 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
Purchase of treasury stock	(575)				(575)
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
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
Purchase of treasury stock	(895)				(895)
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
Ending balance at Sep. 30, 2023	127,820	112	36	68,180	(10,409)	81,362	(11,461)
Beginning balance at Dec. 31, 2023	147,267	112	36	70,401	(12,013)	99,398	(10,667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,162)					(1,162)
Purchase of treasury stock	(554)				(554)
Issuance of common stock, net of conversions	0	2		(2)
Share-based compensation expense	1,904			1,904
Cash dividends	(1,531)					(1,531)
Other comprehensive income (loss), net of tax	(1,060)						(1,060)
Reclassification adjustment to net income (loss)	543						543
Ending balance at Mar. 31, 2024	145,407	114	36	72,303	(12,567)	96,705	(11,184)
Beginning balance at Dec. 31, 2023	147,267	112	36	70,401	(12,013)	99,398	(10,667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	6,760
Ending balance at Sep. 30, 2024	149,951	115	36	77,779	(21,878)	101,430	(7,531)
Beginning balance at Mar. 31, 2024	145,407	114	36	72,303	(12,567)	96,705	(11,184)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,986					5,986
Purchase of treasury stock	(3,985)				(3,985)
Share-based compensation expense	1,180			1,180
Cash dividends	(1,613)					(1,613)
Other comprehensive income (loss), net of tax	(313)						(313)
Reclassification adjustment to net income (loss)	(930)						(930)
Ending balance at Jun. 30, 2024	145,732	114	36	73,483	(16,552)	101,078	(12,427)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,936					1,936
Purchase of treasury stock	(5,326)				(5,326)
Issuance of common stock, net of conversions	0	1		(1)
Share-based compensation expense	4,297			4,297
Cash dividends	(1,584)					(1,584)
Other comprehensive income (loss), net of tax	(562)						(562)
Reclassification adjustment to net income (loss)	5,458						5,458
Ending balance at Sep. 30, 2024	$ 149,951	$ 115	$ 36	$ 77,779	$ (21,878)	$ 101,430	$ (7,531)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.115	$ 0.115	$ 0.11	$ 0.11	$ 0.11	$ 0.105

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2024
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 Throughout this Quarterly Report on Form 10-Q and the notes to unaudited consolidated financial statements, references to “Hamilton Beach Holding”, “the Company”, “we”, “us” and “our” and similar references are to Hamilton Beach Brands Holding Company and its subsidiaries on a consolidated basis unless otherwise noted or as the context otherwise requires. Hamilton Beach Brands Holding Company is a holding company and operates through its indirect, wholly owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”). HBB is the Company’s single reportable segment. We are 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, and are a provider of connected devices and software for healthcare management. 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, 2023. Operating results for the nine months ended September 30, 2024 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. We maintain a $150.0 million senior secured floating-rate revolving credit facility (the “HBB Facility”) that expires on June 30, 2025, within one year after the issuance of these financial statements. We have not yet completed our refinancing of the HBB Facility and, accordingly, all amounts outstanding have been classified as current liabilities. Based on the status of the refinancing and our history of successfully refinancing our debt, we believe that it is probable that the HBB Facility will be refinanced before its maturity. We believe funds available from cash on hand, the HBB Facility and operating cash flows will provide sufficient liquidity to meet our operating needs and commitments arising during the next twelve months. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which updates reportable segment disclosure requirements on an annual and interim basis. The amendments are effective for the annual period ending December 31, 2024, and the interim periods thereafter. Early adoption is permitted. Updates should be applied retrospectively to all prior periods presented in the financial statements. Adoption of this ASU may result in additional disclosure, but it will not impact the Company’s consolidated financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which enhances income tax disclosure requirements primarily involving more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively but retrospective application is permitted. Adoption of this ASU may result in additional disclosure, but it will not impact the Company’s consolidated financial position, results of operations or cash flows. U.S. Pension Plan Termination During 2022, the Board approved the termination of our U.S. defined benefit pension plan (the “U.S. Pension Plan”) with an effective date of September 30, 2022. During the third quarter of 2024, the Company remeasured the U.S. Pension Plan since benefit obligations were settled through a combination of lump sum payments to eligible plan participants and the purchase of a group annuity contract in August 2024, under which future benefit obligations were transferred to a third-party insurance company. The remaining benefit obligations through October 2024 will be settled during the fourth quarter of 2024. The remaining balance as of September 30, 2024 is a deferred loss of $0.1 million within Accumulated Other Comprehensive Income. The Company currently expects that all surplus assets remaining after the U.S. Pension Plan termination will be transferred to a qualified replacement plan once all remaining benefit obligations are settled. The surplus assets as of the remeasurement date of August 31, 2024 were $13.3 million which are included within prepaid expenses and other current assets on the Consolidated Balance Sheets. The remeasurement resulted in pre-tax settlement charges of $7.6 million ($5.7 million post-tax) during the three months ended September 30, 2024, which were released from Accumulated Other Comprehensive Income into earnings and are included within Pension termination expense on the Consolidated Statements of Operations. Accounts payable - Supplier Finance Program The Company has an agreement with a third-party administrator to provide an accounts payable tracking system which facilitates a participating supplier’s ability to monitor and voluntarily elect to sell payment obligations owed by the Company to the designated third-party financial institution. Participating suppliers can sell one or more of the Company’s payment obligations at their sole discretion. The Company has no economic interest in a supplier’s decision to sell one or more of its payment obligations. The Company’s rights and obligations with respect to such payment obligations, including amounts due and scheduled payment terms, are not impacted by suppliers’ decisions to sell amounts under these arrangements. The agreement has a limit of $60.0 million in payment obligations ($85.0 million during peak season from August to January). There is no requirement to provide assets pledged as security or other forms of guarantees under the agreement. The Company pays the third-party administrator based upon the original payment terms negotiated with participating suppliers. The payment of these obligations by the Company is included in cash used in operating activities in the Consolidated Statement of Cash Flows. As of September 30, 2024, December 31, 2023 and September 30, 2023, the Company has $70.1 million, $55.0 million and $72.8 million, respectively, in outstanding payment obligations that are presented in Accounts payable U.S. Treasury Bills

Transfer of Financial Assets

Transfer of Financial Assets	9 Months Ended
	Sep. 30, 2024
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 U.S. trade receivables on a non-recourse basis. 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, 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, the Company derecognized $33.5 million and $104.1 million of trade receivables during the three and nine months ending September 30, 2024, respectively, $30.7 million and $90.0 million of trade receivables during the three and nine months ending September 30, 2023, respectively, and $128.7 million during the year ending December 31, 2023. The loss incurred on sold receivables in the consolidated results of operations for the three and nine months ended September 30, 2024 and 2023 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, 2024
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 $ 798 $ 511 $ 929 Long-term Other non-current assets 2,141 3,501 4,977 Foreign currency exchange contracts Current Prepaid expenses and other current assets 614 — 87 $ 3,553 $ 4,012 $ 5,993 Liabilities: Foreign currency exchange contracts Current Other current liabilities 77 538 331 $ 77 $ 538 $ 331 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, with the exception of U.S. Treasury bills classified as cash and cash equivalents which are measured at amortized cost. The $150.0 million fair value of the HBB Facility, including book overdrafts, which approximate book value, was determined using current rates offered for similar obligations taking into account the Company’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, 2024.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2024
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) 11,459 11,161 11,126 Treasury Stock (3) 1,349 877 766 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) 3,608 3,616 3,625 (1) Class B Common converted to Class A Common were 3 and 8 shares during the three and nine months ending September 30, 2024, respectively, and 4 and 219 during the three and nine months ending September 30, 2023, respectively. (2) The Company issued Class A Common of 14 and 290 shares during the three and nine months ending September 30, 2024, respectively, and 28 and 244 during the three and nine months ending September 30, 2023, respectively. (3) On March 5, 2024, a total of 30 mandatory cashless-exercise-award shares of Class A Common were surrendered to the Company by the participants of our Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”) in order to satisfy the participants’ tax withholding obligations with respect to shares of Class A Common awarded under the Incentive Plan on March 5, 2024. Stock Repurchase Program: In November 2023, 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 January 1, 2024 and ending December 31, 2025. This program replaced the previous stock repurchase plan that started February 22, 2022 and ended December 31, 2023. During the three and nine months ended September 30, 2024, the Company repurchased 221,529 and 441,741 shares, respectively, at prevailing market prices for an aggregate purchase price of $5.3 million and $9.3 million, respectively. 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 year ended December 31, 2023, the Company repurchased 250,772 shares for an aggregate purchase price of $3.1 million. As of September 30, 2024, the Company had $15.7 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, 2024 $ (6,412) $ 2,424 $ (6,679) $ (10,667) Other comprehensive income (loss) (1,097) 29 — (1,068) Reclassification adjustment to net income (loss) — 647 94 741 Tax effects — (167) (23) (190) Balance, March 31, 2024 (7,509) 2,933 (6,608) (11,184) Other comprehensive income (loss) (1,868) 2,104 — 236 Reclassification adjustment to net income (loss) — (1,325) 83 (1,242) Tax effects — (215) (22) (237) Balance, June 30, 2024 (9,377) 3,497 (6,547) (12,427) Other comprehensive income (loss) (516) (944) 932 (528) Reclassification adjustment to net income (loss) — (310) 7,649 7,339 Tax effects — 276 (2,191) (1,915) Balance, September 30, 2024 $ (9,893) $ 2,519 $ (157) $ (7,531) 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)

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
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. The Company’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 Most of the Company’s products are not sold with a general right of return. Subject to certain terms and conditions, however, the Company 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 the Company 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 a Company 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 two-thirds of the Company’s commercial sales is in the U.S. and the remaining 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 the Company’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, the Company 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. The Company recognizes revenue at the later of when the subsequent sales occur or when the performance obligation is satisfied over time. Additionally, the Company enters into agreements which grant the right to use software for healthcare management. The Company receives a license payment which is recognized when the performance obligation is satisfied over time or as usage occurs based on the contract with the customer. Lease revenue The Company leases connected devices to specialty pharmacy networks and pharmaceutical companies and is accounted for under Accounting Standards Codification 842, Leases as operating leases. 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 2024 2023 2024 2023 Type of good or service: Consumer products $ 141,862 $ 138,849 $ 394,397 $ 374,842 Commercial products 12,041 13,159 39,914 40,234 Licensing 1,841 1,606 4,801 3,899 Leasing 923 — 2,072 — Total revenues $ 156,667 $ 153,614 $ 441,184 $ 418,975

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2024
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 The Company is investigating or remediating historical environmental contamination at some current and former sites operated by the Company or by businesses it acquired. Based on the current stage of the investigation or remediation at each known site, the Company 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. The Company’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 the Company’s estimate of the time required to remediate the sites changes. The Company’s current estimates may differ materially from original estimates. As of September 30, 2024, December 31, 2023 and September 30, 2023, the Company had accrued undiscounted obligations of $3.5 million, $3.4 million and $3.4 million, respectively, for environmental investigation and remediation activities. The Company estimates that it is reasonably possible that it may incur additional expenses in the range of zero to $1.7 million related to the environmental investigation and remediation at these sites. As of September 30, 2024, the Company 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, the Company has a $1.6 million asset associated with the reimbursement of costs associated with two sites.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 27.4% and 21.6% for the three months ended September 30, 2024 and 2023, respectively. The effective tax rate was higher in the three months ended September 30, 2024 due to a valuation allowance on foreign losses in the current year and a tax benefit on foreign income in the prior year that did not recur. The effective tax rate was 34.7% and 19.7% for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate was higher for the nine months ended September 30, 2024 due to a valuation allowance on foreign losses in the current year and tax benefits on foreign income and credits in the prior year that did not recur.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions On February 2, 2024, we completed the acquisition of HealthBeacon PLC (“HealthBeacon”), a medical technology firm and strategic partner of the Company, for €6.9 million (approximately $7.5 million). The transaction was funded with cash on hand. The acquisition of HealthBeacon was accounted for as a business combination using the acquisition method of accounting. The results of operations for HealthBeacon are included in the accompanying Consolidated Statements of Operations from the acquisition date until September 30, 2024. HealthBeacon had $1.2 million and $2.6 million in revenue and $1.1 million and $3.7 million in operating loss that was included in our consolidated financial statements for the three and nine months ended September 30, 2024, respectively. Pro forma financial information has not been presented, as revenue and expenses related to the acquisition do not have a material impact on the Company’s unaudited consolidated financial statements. The determination and allocation of purchase price consideration is based on preliminary estimates of fair value; such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date). As of September 30, 2024, the purchase price allocation for HealthBeacon is preliminary as we assess and gather additional information regarding the fair value of the assets acquired and liabilities assumed as of the acquisition date. We may revise our preliminary estimates during the measurement period as third-party valuations are finalized, additional information becomes available and as additional analyses are performed. There were no adjustments as allowed within the measurement period during the three months ended September 30, 2024. During the three and nine months ended September 30, 2024, we incurred transaction costs of approximately $0.2 million and $1.3 million, respectively, which are included in Selling, general and administrative expenses. The following table presents the preliminary value of assets acquired and liabilities assumed and will be finalized pending completion of purchase accounting matters: Preliminary Fair Values as of Cash and cash equivalents $ 147 Current assets 1,452 Property, plant and equipment, net 6,634 Goodwill 847 Other intangible assets, net 1,111 Total assets acquired 10,191 Liabilities, current 2,016 Liabilities, non-current 616 Total liabilities acquired 2,632 Purchase Price $ 7,559

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 1,936	$ 5,986	$ (1,162)	$ 10,340	$ 110	$ (4,777)	$ 6,760	$ 5,673

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Throughout this Quarterly Report on Form 10-Q and the notes to unaudited consolidated financial statements, references to “Hamilton Beach Holding”, “the Company”, “we”, “us” and “our” and similar references are to Hamilton Beach Brands Holding Company and its subsidiaries on a consolidated basis unless otherwise noted or as the context otherwise requires. Hamilton Beach Brands Holding Company is a holding company and operates through its indirect, wholly owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”). HBB is the Company’s single reportable segment. We are 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, and are a provider of connected devices and software for healthcare management. 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, 2023. Operating results for the nine months ended September 30, 2024 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 Not Yet Adopted	Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which updates reportable segment disclosure requirements on an annual and interim basis. The amendments are effective for the annual period ending December 31, 2024, and the interim periods thereafter. Early adoption is permitted. Updates should be applied retrospectively to all prior periods presented in the financial statements. Adoption of this ASU may result in additional disclosure, but it will not impact the Company’s consolidated financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which enhances income tax disclosure requirements primarily involving more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively but retrospective application is permitted. Adoption of this ASU may result in additional disclosure, but it will not impact the Company’s consolidated financial position, results of operations or cash flows.
Accounts payable - Supplier Finance Program	Accounts payable - Supplier Finance Program
U.S. Treasury Bills	U.S. Treasury Bills

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2024
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 $ 798 $ 511 $ 929 Long-term Other non-current assets 2,141 3,501 4,977 Foreign currency exchange contracts Current Prepaid expenses and other current assets 614 — 87 $ 3,553 $ 4,012 $ 5,993 Liabilities: Foreign currency exchange contracts Current Other current liabilities 77 538 331 $ 77 $ 538 $ 331

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2024
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) 11,459 11,161 11,126 Treasury Stock (3) 1,349 877 766 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) 3,608 3,616 3,625 (1) Class B Common converted to Class A Common were 3 and 8 shares during the three and nine months ending September 30, 2024, respectively, and 4 and 219 during the three and nine months ending September 30, 2023, respectively. (2) The Company issued Class A Common of 14 and 290 shares during the three and nine months ending September 30, 2024, respectively, and 28 and 244 during the three and nine months ending September 30, 2023, respectively. (3) On March 5, 2024, a total of 30 mandatory cashless-exercise-award shares of Class A Common were surrendered to the Company by the participants of our Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”) in order to satisfy the participants’ tax withholding obligations with respect to shares of Class A Common awarded under the Incentive Plan on March 5, 2024.
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, 2024 $ (6,412) $ 2,424 $ (6,679) $ (10,667) Other comprehensive income (loss) (1,097) 29 — (1,068) Reclassification adjustment to net income (loss) — 647 94 741 Tax effects — (167) (23) (190) Balance, March 31, 2024 (7,509) 2,933 (6,608) (11,184) Other comprehensive income (loss) (1,868) 2,104 — 236 Reclassification adjustment to net income (loss) — (1,325) 83 (1,242) Tax effects — (215) (22) (237) Balance, June 30, 2024 (9,377) 3,497 (6,547) (12,427) Other comprehensive income (loss) (516) (944) 932 (528) Reclassification adjustment to net income (loss) — (310) 7,649 7,339 Tax effects — 276 (2,191) (1,915) Balance, September 30, 2024 $ (9,893) $ 2,519 $ (157) $ (7,531) 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)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
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 2024 2023 2024 2023 Type of good or service: Consumer products $ 141,862 $ 138,849 $ 394,397 $ 374,842 Commercial products 12,041 13,159 39,914 40,234 Licensing 1,841 1,606 4,801 3,899 Leasing 923 — 2,072 — Total revenues $ 156,667 $ 153,614 $ 441,184 $ 418,975

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Preliminary Assets Acquired and Liabilities Assumed	The following table presents the preliminary value of assets acquired and liabilities assumed and will be finalized pending completion of purchase accounting matters: Preliminary Fair Values as of Cash and cash equivalents $ 147 Current assets 1,452 Property, plant and equipment, net 6,634 Goodwill 847 Other intangible assets, net 1,111 Total assets acquired 10,191 Liabilities, current 2,016 Liabilities, non-current 616 Total liabilities acquired 2,632 Purchase Price $ 7,559

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) treasuryBill	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Aug. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Basis of Presentation and Policies [Line Items]
Deferred loss within accumulated other comprehensive income	$ 100		$ 100
Surplus assets					$ 13,300
Reclassification related to pension termination activity into earnings, post-tax	5,658	$ 0	5,658	$ 0
Reclassification related to pension termination activity into earnings, before tax	7,600
Limit on payment obligations	60,000		60,000
Outstanding payment obligations, current	$ 70,100	$ 72,800	$ 70,100	$ 72,800		$ 55,000
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable	Accounts payable	Accounts payable		Accounts payable
Settlement of outstanding payment obligations	$ 60,800	$ 63,800	$ 60,800	$ 63,800		$ 48,900
Investments of excess cash on hand	$ 9,800
Number of U.S. treasury bills | treasuryBill	2
Cash and cash equivalents
Basis of Presentation and Policies [Line Items]
Debt securities, held-to-maturity, amortized cost	$ 5,000		5,000
Prepaid expenses and other current assets
Basis of Presentation and Policies [Line Items]
Debt securities, held-to-maturity, amortized cost	4,900		4,900
Maximum
Basis of Presentation and Policies [Line Items]
Limit on payment obligations	85,000		85,000
Letter of Credit | HBB Facility
Basis of Presentation and Policies [Line Items]
Line of credit facility, maximum borrowing capacity	$ 150,000		$ 150,000

Transfer of Financial Assets (D

Transfer of Financial Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Transfers and Servicing [Abstract]
Accounts receivable derecognized	$ 33.5	$ 30.7	$ 104.1	$ 90	$ 128.7
Loss on sale of accounts receivable	$ 0	$ 0	$ 0	$ 0

Fair Value Disclosure (Details)

Fair Value Disclosure (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Letter of Credit | HBB Facility
Liabilities:
Line of credit facility, maximum borrowing capacity	$ 150,000
Fair value measurements, recurring
Assets:
Assets at fair value	3,553	$ 4,012	$ 5,993
Liabilities:
Liabilities at fair value	77	538	331
Fair value measurements, recurring | Prepaid expenses and other current assets
Assets:
Interest rate swap agreements	798	511	929
Foreign currency exchange contracts	614	0	87
Fair value measurements, recurring | Other non-current assets
Assets:
Interest rate swap agreements	2,141	3,501	4,977
Fair value measurements, recurring | Other current liabilities
Liabilities:
Foreign currency exchange contracts	$ 77	$ 538	$ 331

Stockholders_ Equity - Schedule

Stockholders’ Equity - Schedule of Capital Stock (Details) shares in Thousands		3 Months Ended		9 Months Ended
	Mar. 05, 2024 shares	Sep. 30, 2024 $ / shares shares	Sep. 30, 2023 $ / shares shares	Sep. 30, 2024 $ / shares shares	Sep. 30, 2023 $ / shares shares	Dec. 31, 2023 $ / 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	5,000	5,000	5,000	5,000
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	70,000	70,000	70,000	70,000
Common stock issued (in shares)		11,459	11,126	11,459	11,126	11,161
Treasury Stock (in shares)		1,349	766	1,349	766	877
Class A common shares issued (in shares)		14	28	290	244
Class A Common stock | Incentive Plan
Class of Stock [Line Items]
Number of shares surrendered to satisfy tax withholding obligation	30
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	30,000	30,000	30,000	30,000
Common stock issued (in shares)		3,608	3,625	3,608	3,625	3,616
Class B common converted to Class A common (in shares)		3	4	8	219

Stockholders_ Equity - Stock Re

Stockholders’ Equity - Stock Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 30, 2023
Class of Stock [Line Items]
Stock repurchased (in shares)	221,529	82,676	441,741	139,649	250,772
Aggregate purchase price	$ 5.3	$ 0.9	$ 9.3	$ 1.5	$ 3.1
Remaining authorized repurchase amount	$ 15.7		$ 15.7
Shares Outstanding Class A
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)						25,000,000

Stockholders_ Equity - Schedu_2

Stockholders’ Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 145,732	$ 145,407	$ 147,267	$ 118,366	$ 118,429	$ 124,534
Other comprehensive income (loss)	(528)	236	(1,068)	(332)	366	(1,166)
Reclassification adjustment to net income (loss)	7,339	(1,242)	741	743	548	339
Tax effects	(1,915)	(237)	(190)	(277)	74	162
Ending balance	149,951	145,732	145,407	127,820	118,366	118,429
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12,427)	(11,184)	(10,667)	(11,595)	(12,583)	(11,918)
Ending balance	(7,531)	(12,427)	(11,184)	(11,461)	(11,595)	(12,583)
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,377)	(7,509)	(6,412)	(7,792)	(8,403)	(8,924)
Other comprehensive income (loss)	(516)	(1,868)	(1,097)	(661)	425	715
Reclassification adjustment to net income (loss)	0	0	0	0	0	0
Tax effects	0	0	0	0	186	(194)
Ending balance	(9,893)	(9,377)	(7,509)	(8,453)	(7,792)	(8,403)
Deferred Gain (Loss) on Cash Flow Hedging
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,497	2,933	2,424	3,225	2,908	4,158
Other comprehensive income (loss)	(944)	2,104	29	329	(59)	(1,881)
Reclassification adjustment to net income (loss)	(310)	(1,325)	647	648	465	252
Tax effects	276	(215)	(167)	(255)	(89)	379
Ending balance	2,519	3,497	2,933	3,947	3,225	2,908
Pension Plan Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6,547)	(6,608)	(6,679)	(7,028)	(7,088)	(7,152)
Other comprehensive income (loss)	932	0	0	0	0	0
Reclassification adjustment to net income (loss)	7,649	83	94	95	83	87
Tax effects	(2,191)	(22)	(23)	(22)	(23)	(23)
Ending balance	$ (157)	$ (6,547)	$ (6,608)	$ (6,955)	$ (7,028)	$ (7,088)

Revenue - Narrative (Details)

Revenue - Narrative (Details)	9 Months Ended
	Sep. 30, 2024
Commercial products | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | United States
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	67%
Commercial products | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | Non-US
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	33%
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
Minimum | Other products
Disaggregation of Revenue [Line Items]
Warranty term	1 year

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Leasing	$ 923	$ 0	$ 2,072	$ 0
Total revenues	156,667	153,614	441,184	418,975
Consumer products
Disaggregation of Revenue [Line Items]
Revenue	141,862	138,849	394,397	374,842
Commercial products
Disaggregation of Revenue [Line Items]
Revenue	12,041	13,159	39,914	40,234
Licensing
Disaggregation of Revenue [Line Items]
Revenue	$ 1,841	$ 1,606	$ 4,801	$ 3,899

Contingencies (Details)

Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) numberOfSite	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Accrual for environmental investigation and remediation activities	$ 3.5	$ 3.4	$ 3.4
Portion of loss contingency proceeds representing restricted cash	0.9
Asset associated with reimbursement of costs	$ 1.6
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	$ 1.7

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	27.40%	21.60%	34.70%	19.70%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - HealthBeacon € in Millions			3 Months Ended	9 Months Ended
	Feb. 02, 2024 EUR (€)	Feb. 02, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)
Asset Acquisition [Line Items]
Business combination, consideration transferred	€ 6.9	$ 7,500,000
Revenues			$ 1,200,000	$ 2,600,000
Operating loss			1,100,000	3,700,000
Adjustments			0
Transaction costs			$ 200,000	$ 1,300,000

Acquisitions - Schedule of Prel

Acquisitions - Schedule of Preliminary Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Feb. 02, 2024	Dec. 31, 2023	Sep. 30, 2023
Asset Acquisition [Line Items]
Goodwill	$ 7,099		$ 6,253	$ 6,253
HealthBeacon
Asset Acquisition [Line Items]
Cash and cash equivalents		$ 147
Current assets		1,452
Property, plant and equipment, net		6,634
Goodwill		847
Other intangible assets, net		1,111
Total assets acquired		10,191
Liabilities, current		2,016
Liabilities, non-current		616
Total liabilities acquired		2,632
Purchase Price		$ 7,559