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Segment Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION The Company has two reportable segments. Business units are organized under each reportable segment because they share certain characteristics, such as technology, marketing, distribution, and product application, which are expected to create long-term synergies. The following tables summarize the Company’s financial performance by reportable segment and include reconciliations of segment operating income to consolidated income before income taxes for the three months ended September 30, 2025 and 2024:
| Three Months ended September 30, 2025
(in millions of dollars) | Environmental Solutions |  | Safety and Security Systems |  | Total
Net sales (a) | $ | 465.5 |  |  | $ | 89.5 |  |  | $ | 555.0 |
Less: Cost of sales | 343.0 |  |  | 50.5 |  |  | 393.5 |
Gross profit | 122.5 |  |  | 39.0 |  |  | 161.5 |
Less: |  |  |  |  |
Selling, engineering, general, and administrative expenses | 32.5 |  |  | 17.1 |  |  | 49.6 |
Other segment items (b) | 4.7 |  |  | — |  |  | 4.7 |
Segment operating income | 85.3 |  |  | 21.9 |  |  | 107.2 |
Reconciliation to income before income taxes: |  |  |  |  |
All other (income) loss (c) |  |  |  |  | 13.2 |
Interest expense, net |  |  |  |  | 2.8 |
Other expense, net |  |  |  |  | 0.7 |
Income before income taxes |  |  |  |  | $ | 90.5 |
(a) Represents net sales from external customers. Intersegment net sales are not significant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations. (b) Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group. (c) Represents general corporate expenses.
| Three Months Ended September 30, 2024
(in millions of dollars) | Environmental Solutions |  | Safety and Security Systems |  | Total
Net sales (a) | $ | 398.2 |  |  | $ | 76.0 |  |  | $ | 474.2 |
Less: Cost of sales | 290.4 |  |  | 43.4 |  |  | 333.8 |
Gross profit | 107.8 |  |  | 32.6 |  |  | 140.4 |
Less: |  |  |  |  |
Selling, engineering, general, and administrative expenses | 32.2 |  |  | 15.8 |  |  | 48.0 |
Other segment items (b) | 4.1 |  |  | — |  |  | 4.1 |
Segment operating income | 71.5 |  |  | 16.8 |  |  | 88.3 |
Reconciliation to income before income taxes: |  |  |  |  |
All other (income) loss (c) |  |  |  |  | 12.4 |
Interest expense, net |  |  |  |  | 3.0 |
Other expense, net |  |  |  |  | 0.3 |
Income before income taxes |  |  |  |  | $ | 72.6 |
(a) Represents net sales from external customers. Intersegment net sales are not significant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations. (b) Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group. (c) Represents general corporate expenses. The following tables summarize the Company’s financial performance by reportable segment and include reconciliations of segment operating income to consolidated income before income taxes for the nine months ended September 30, 2025 and 2024:
| Nine Months Ended September 30, 2025
(in millions of dollars) | Environmental Solutions |  | Safety and Security Systems |  | Total
Net sales (a) | $ | 1,333.4 |  |  | $ | 250.0 |  |  | $ | 1,583.4 |
Less: Cost of sales | 979.9 |  |  | 141.6 |  |  | 1,121.5 |
Gross profit | 353.5 |  |  | 108.4 |  |  | 461.9 |
Less: |  |  |  |  |
Selling, engineering, general, and administrative expenses | 102.9 |  |  | 49.2 |  |  | 152.1 |
Other segment items (b) | 13.7 |  |  | — |  |  | 13.7 |
Segment operating income | 236.9 |  |  | 59.2 |  |  | 296.1 |
Reconciliation to income before income taxes: |  |  |  |  |
All other (income) loss (c) |  |  |  |  | 38.7 |
Interest expense, net |  |  |  |  | 9.3 |
Other expense, net |  |  |  |  | 2.2 |
Income before income taxes |  |  |  |  | $ | 245.9 |
(a) Represents net sales from external customers. Intersegment net sales are not significant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations. (b) Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group. (c) Represents general corporate expenses.
| Nine Months Ended September 30, 2024
(in millions of dollars) | Environmental Solutions |  | Safety and Security Systems |  | Total
Net sales (a) | $ | 1,161.0 |  |  | $ | 228.5 |  |  | $ | 1,389.5 |
Less: Cost of sales | 857.0 |  |  | 132.1 |  |  | 989.1 |
Gross profit | 304.0 |  |  | 96.4 |  |  | 400.4 |
Less: |  |  |  |  |
Selling, engineering, general, and administrative expenses | 95.3 |  |  | 47.5 |  |  | 142.8 |
Other segment items (b) | 12.6 |  |  | — |  |  | 12.6 |
Segment operating income | 196.1 |  |  | 48.9 |  |  | 245.0 |
Reconciliation to income before income taxes: |  |  |  |  |
All other (income) loss (c) |  |  |  |  | 33.7 |
Interest expense, net |  |  |  |  | 9.4 |
Other expense, net |  |  |  |  | 0.9 |
Income before income taxes |  |  |  |  | $ | 201.0 |
(a) Represents net sales from external customers. Intersegment net sales are not significant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations. (b) Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group. (c) Represents general corporate expenses. The following table summarizes the Company’s total depreciation and amortization by reportable segment and includes a reconciliation of total segment depreciation and amortization to total depreciation and amortization for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions of dollars) | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation and amortization: |  |  |  |  |  |  |
Environmental Solutions (a) | $ | 19.1 |  |  | $ | 15.4 |  |  | $ | 55.4 |  |  | $ | 44.4 |
Safety and Security Systems (a) | 1.0 |  |  | 1.0 |  |  | 3.1 |  |  | 3.0 |
Total segment depreciation and amortization | 20.1 |  |  | 16.4 |  |  | 58.5 |  |  | 47.4 |
Corporate | 0.2 |  |  | 0.1 |  |  | 0.4 |  |  | 0.3 |
Total depreciation and amortization | $ | 20.3 |  |  | $ | 16.5 |  |  | $ | 58.9 |  |  | $ | 47.7 |
(a) The amounts of depreciation and amortization disclosed by reportable segment are included within cost of sales; selling, engineering, general, and administrative expenses; and other segment items in the tables above. The following table summarizes the Company’s total assets by reportable segment and includes a reconciliation of total segment assets to total assets as of September 30, 2025 and December 31, 2024:
(in millions of dollars) | September 30, 2025 |  | December 31, 2024
Total assets: |  |  |
Environmental Solutions | $ | 1,595.1 |  |  | $ | 1,424.7 |
Safety and Security Systems | 301.3 |  |  | 279.5 |
Total segment assets | 1,896.4 |  |  | 1,704.2 |
Corporate and eliminations | 42.0 |  |  | 61.0 |
Total assets | $ | 1,938.4 |  |  | $ | 1,765.2 |
The following table summarizes the Company’s total capital expenditures by reportable segment and includes a reconciliation of total segment capital expenditures to total capital expenditures for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions of dollars) | 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures |  |  |  |  |  |  |
Environmental Solutions | $ | 5.7 |  |  | $ | 5.6 |  |  | $ | 15.0 |  |  | $ | 24.8 |
Safety and Security Systems | 1.2 |  |  | 1.2 |  |  | 3.6 |  |  | 4.7 |
Total segment capital expenditures | 6.9 |  |  | 6.8 |  |  | 18.6 |  |  | 29.5 |
Corporate | 0.1 |  |  | 1.1 |  |  | 1.3 |  |  | 2.6 |
Total capital expenditures | $ | 7.0 |  |  | $ | 7.9 |  |  | $ | 19.9 |  |  | $ | 32.1 |

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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 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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