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Business Segments | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company operates under two business segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The measure of segment EBITDA categorically excludes income taxes, depreciation and amortization, corporate expenses, net interest expense, closed operations and other expenses, charges for goodwill and asset impairments, restructuring and other credits/charges, strike related costs, pension remeasurement gains/losses, debt extinguishment charges and gains or losses on asset sales and sales of businesses. Management believes segment EBITDA, as defined, provides an appropriate measure of controllable operating results at the business segment level. Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions):
| Quarter ended
| March 31, 2024 |  | April 2, 2023
Total sales: |  |  |
High Performance Materials & Components | $ | 571.9 |  |  | $ | 529.6 |
Advanced Alloys & Solutions | 560.7 |  |  | 625.8 |
| 1,132.6 |  |  | 1,155.4 |
Intersegment sales: |  |  |
High Performance Materials & Components | 42.0 |  |  | 58.5 |
Advanced Alloys & Solutions | 47.7 |  |  | 58.8 |
| 89.7 |  |  | 117.3 |
Sales to external customers: |  |  |
High Performance Materials & Components | 529.9 |  |  | 471.1 |
Advanced Alloys & Solutions | 513.0 |  |  | 567.0 |
| $ | 1,042.9 |  |  | $ | 1,038.1 |
| Quarter ended
| March 31, 2024 |  | April 2, 2023
EBITDA: |  |  |
High Performance Materials & Components | $ | 97.6 |  |  | $ | 81.6 |
Advanced Alloys & Solutions | 71.8 |  |  | 83.7 |
Total segment EBITDA | 169.4 |  |  | 165.3 |
Corporate expenses | (17.1) |  |  | (16.9) |
Closed operations and other expense | (1.3) |  |  | (1.3) |
Depreciation & amortization (a) | (36.0) |  |  | (35.1) |
Interest expense, net | (26.6) |  |  | (19.9) |
Restructuring and other charges | (3.1) |  |  | (1.2) |
Income before income taxes | $ | 85.3 |  |  | $ | 90.9 |
a) The following is depreciation & amortization by each business segment:
| Quarter ended
| March 31, 2024 |  | April 2, 2023
High Performance Materials & Components | $ | 16.3 |  |  | $ | 17.4 |
Advanced Alloys & Solutions | 18.0 |  |  | 16.1 |
Other | 1.7 |  |  | 1.6 |
| $ | 36.0 |  |  | $ | 35.1 |
Restructuring and other charges of $3.1 million for the quarter ended March 31, 2024 include $2.9 million of start up costs, which are included within cost of sales on the consolidated statements of operations, and $0.2 million of restructuring charges (see Note 6). Restructuring and other charges for the quarter ended April 2, 2023 include $1.2 million of start up costs, which are classified within cost of sales on the consolidated statements of operations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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