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v3.22.4

Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of sales by segment |
(In millions) |  | 2022 |  | 2021 |  | 2020
Total sales: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 1,815.7 |  |  | $ | 1,248.3 |  |  | $ | 1,235.4 |
Advanced Alloys & Solutions |  | 2,433.7 |  |  | 1,762.4 |  |  | 1,947.5 |
Total sales |  | 4,249.4 |  |  | 3,010.7 |  |  | 3,182.9 |
Intersegment sales: |  |  |  |  |  |
High Performance Materials & Components |  | 174.5 |  |  | 93.2 |  |  | 70.8 |
Advanced Alloys & Solutions |  | 238.9 |  |  | 117.7 |  |  | 130.0 |
Total intersegment sales |  | 413.4 |  |  | 210.9 |  |  | 200.8 |
Sales to external customers: |  |  |  |  |  |
High Performance Materials & Components |  | 1,641.2 |  |  | 1,155.1 |  |  | 1,164.6 |
Advanced Alloys & Solutions |  | 2,194.8 |  |  | 1,644.7 |  |  | 1,817.5 |
Total sales to external customers |  | $ | 3,836.0 |  |  | $ | 2,799.8 |  |  | $ | 2,982.1 |
Schedule of operating profit (loss) by segment |
(In millions) |  | 2022 |  | 2021 |  | 2020
EBITDA: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 296.0 |  |  | $ | 159.9 |  |  | $ | 129.6 |
Advanced Alloys & Solutions |  | 327.8 |  |  | 191.7 |  |  | 115.0 |
Total segment EBITDA |  | 623.8 |  |  | 351.6 |  |  | 244.6 |
Corporate expenses |  | (62.4) |  |  | (55.9) |  |  | (40.9) |
Closed operations and other expenses |  | (12.1) |  |  | (4.8) |  |  | (7.4) |
Depreciation & amortization |  | (142.9) |  |  | (143.9) |  |  | (143.3) |
Interest expense, net |  | (87.4) |  |  | (96.9) |  |  | (94.4) |
Restructuring and other credits (charges) (See Note 19) |  | (23.7) |  |  | 10.5 |  |  | (1,132.1) |
Strike related costs |  | — |  |  | (63.2) |  |  | — |
Retirement benefit settlement gain (See Note 14) |  | — |  |  | 64.9 |  |  | — |
Impairment of goodwill (See Note 5) |  | — |  |  | — |  |  | (287.0) |
Joint venture restructuring credit (charge) (See Note 7) |  | 0.9 |  |  | — |  |  | (2.4) |
Debt extinguishment charge (See Note 10) |  | — |  |  | (65.5) |  |  | (21.5) |
Gain (loss) on asset sales and sale of business, net |  | (134.2) |  |  | 13.8 |  |  | 2.5 |
Income (loss) before income taxes |  | $ | 162.0 |  |  | $ | 10.6 |  |  | $ | (1,481.9) |
Schedule of other financial information by segment | Certain additional information regarding the Company’s business segments is presented below:
(In millions) |  | 2022 |  | 2021 |  | 2020
Depreciation and amortization: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 68.3 |  |  | $ | 75.0 |  |  | $ | 78.1 |
Advanced Alloys & Solutions |  | 67.4 |  |  | 64.5 |  |  | 62.1 |
Other |  | 7.2 |  |  | 4.4 |  |  | 3.1 |
Total depreciation and amortization |  | $ | 142.9 |  |  | $ | 143.9 |  |  | $ | 143.3 |
Capital expenditures: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 33.3 |  |  | $ | 40.2 |  |  | $ | 83.1 |
Advanced Alloys & Solutions |  | 89.6 |  |  | 110.6 |  |  | 45.9 |
Corporate |  | 8.0 |  |  | 1.8 |  |  | 7.5 |
Total capital expenditures |  | $ | 130.9 |  |  | $ | 152.6 |  |  | $ | 136.5 |
Identifiable assets: |  | 2022 |  | 2021 |  | 2020
High Performance Materials & Components |  | $ | 1,749.3 |  |  | $ | 1,624.8 |  |  | $ | 1,594.6 |
Advanced Alloys & Solutions |  | 1,981.1 |  |  | 1,914.0 |  |  | 1,664.0 |
Corporate: |  |  |  |  |  |
Deferred Taxes |  | 4.7 |  |  | 6.3 |  |  | 5.1 |
Cash and cash equivalents and other |  | 710.5 |  |  | 740.1 |  |  | 771.2 |
Total assets |  | $ | 4,445.6 |  |  | $ | 4,285.2 |  |  | $ | 4,034.9 |
Schedule of company assets by country |
($ in millions) |  | 2022 |  | Percent of total |  | 2021 |  | Percent of total |  | 2020 |  | Percent of total
Total assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 3,942.7 |  |  | 89 | % |  | $ | 3,587.0 |  |  | 84 | % |  | $ | 3,356.8 |  |  | 83 | %
China |  | 321.1 |  |  | 7 | % |  | 406.4 |  |  | 9 | % |  | 325.5 |  |  | 8 | %
United Kingdom |  | 13.4 |  |  | — | % |  | 153.9 |  |  | 4 | % |  | 122.4 |  |  | 3 | %
Other |  | 168.4 |  |  | 4 | % |  | 137.9 |  |  | 3 | % |  | 230.2 |  |  | 6 | %
Total Assets |  | $ | 4,445.6 |  |  | 100 | % |  | $ | 4,285.2 |  |  | 100 | % |  | $ | 4,034.9 |  |  | 100 | %

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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