Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 44

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 consideration liability has been accounted for based on inputs that are unobservable and significant to the overall fair value measurement (Level 3). The contingent consideration balance is recorded in other payables and accrued expenses and other long-term liabilities in the unaudited condensed consolidated balance sheets. Changes in fair value and net present value of contingent consideration are recorded in change in fair value of contingent consideration in the unaudited condensed consolidated statements of operations. The fair value of contingent consideration is reassessed on a quarterly basis. The following tables set forth the changes in fair value of our contingent consideration for the three and six months ended March 31, 2025:($ in thousands)Three Months Ended March 31, 2025Balance as of December 31, 2024$14,947 Additions from acquisitions— Settlement of contingent consideration(5,887)Change in fair value, including accretion66 Balance as of March 31, 2025$9,126 ($ in thousands)Six Months Ended March 31, 2025Balance as of September 30, 2024$15,161 Additions from acquisitions— Settlement of contingent consideration(6,343)Change in fair value, including accretion308 Balance as of March 31, 2025$9,126 We determine the carrying value of our cash and cash equivalents, accounts receivable, accounts payable, other payables and accrued expenses, floor plan notes payable, term note payable with Truist Bank, seller notes payable and company vehicle notes payable approximate their fair values because of the nature of their terms and current market rates of these instruments. Derivative and hedging instruments are recorded at fair value as discussed in Note 9.

12.    Restructuring and Impairment

During the six months ended March 31, 2025, the Company underwent various restructuring actions, primarily a reduction of headcount, closure of certain locations and inventory adjustments related to the cancellation of certain dealer agreements. As a result of the restructuring activities, the Company recognized $0.4 million of restructuring charges during the three months ended March 31, 2025, which is recorded in restructuring and impairment in the unaudited consolidated statement of operations. The $0.4 million of restructuring charges are fully reported in the Distribution reporting segment. The Company recognized $2.3 million of restructuring charges during the six months ended March 31, 2025, of which $1.2 million is recorded in