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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | Financial information for our operating segments for the quarters and nine months ended September 30, 2022 and 2021 were as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 293.5 |  |  | $ | 71.2 |  |  | $ | — |  |  | $ | 364.7 |
Intersegment sales |  |  | 15.4 |  |  |  | 0.7 |  |  |  | (16.1 | ) |  |  | — |
Total sales |  | $ | 308.9 |  |  | $ | 71.9 |  |  | $ | (16.1 | ) |  | $ | 364.7 |
Other operating expense |  |  | 0.4 |  |  |  | - |  |  |  | — |  |  |  | 0.4 |
Operating income |  |  | 41.4 |  |  |  | 6.0 |  |  |  | (6.6 | ) |  |  | 40.8 |
Depreciation and amortization |  |  | 27.5 |  |  |  | 3.5 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 1.0 |  |  |  | 0.3 |  |  |  | 1.1 |  |  |  | 2.4 |
Accrual basis additions to capital expenditures |  |  | 17.9 |  |  |  | 2.8 |  |  |  | 0.1 |  |  |  | 20.8 |
Quarter Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 254.1 |  |  | $ | 79.7 |  |  | $ | — |  |  | $ | 333.8 |
Intersegment sales |  |  | 15.0 |  |  |  | 0.4 |  |  |  | (15.4 | ) |  |  | — |
Total sales |  | $ | 269.1 |  |  | $ | 80.1 |  |  | $ | (15.4 | ) |  | $ | 333.8 |
Other operating expense |  |  | 0.8 |  |  |  | - |  |  |  | - |  |  |  | 0.8 |
Operating income (loss) |  |  | 30.0 |  |  |  | 6.5 |  |  |  | (13.7 | ) |  |  | 22.8 |
Depreciation and amortization |  |  | 30.1 |  |  |  | 3.6 |  |  |  | — |  |  |  | 33.7 |
Stock-based compensation |  |  | 0.7 |  |  |  | 0.1 |  |  |  | 2.1 |  |  |  | 2.9 |
Accrual basis additions to capital expenditures |  |  | 3.7 |  |  |  | 2.8 |  |  |  | — |  |  |  | 6.5 |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 925.4 |  |  | $ | 222.9 |  |  | $ | — |  |  | $ | 1,148.3 |
Intersegment sales |  |  | 50.4 |  |  |  | 2.0 |  |  |  | (52.4 | ) |  |  | — |
Total sales |  | $ | 975.8 |  |  | $ | 224.9 |  |  | $ | (52.4 | ) |  | $ | 1,148.3 |
Other operating (income) expense |  |  | 1.6 |  |  |  | 0.1 |  |  |  | (19.4 | ) |  |  | (17.7 | )
Operating income (loss) |  |  | 131.2 |  |  |  | 25.7 |  |  |  | (22.2 | ) |  |  | 134.7 |
Depreciation and amortization |  |  | 84.2 |  |  |  | 10.6 |  |  |  | 0.1 |  |  |  | 94.9 |
Stock-based compensation |  |  | 4.5 |  |  |  | 1.3 |  |  |  | 9.4 |  |  |  | 15.2 |
Accrual basis additions to capital expenditures |  |  | 42.5 |  |  |  | 6.5 |  |  |  | 0.1 |  |  |  | 49.1 |
Nine Months Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 732.2 |  |  | $ | 232.2 |  |  | $ | — |  |  | $ | 964.4 |
Intersegment sales |  |  | 42.8 |  |  |  | 1.8 |  |  |  | (44.6 | ) |  |  | — |
Total sales |  | $ | 775.0 |  |  | $ | 234.0 |  |  | $ | (44.6 | ) |  | $ | 964.4 |
Other operating (income) expense |  |  | 16.3 |  |  |  | (0.5 | ) |  |  | 0.2 |  |  |  | 16.0 |
Operating income (loss) |  |  | 61.9 |  |  |  | 17.1 |  |  |  | (50.2 | ) |  |  | 28.8 |
Depreciation and amortization |  |  | 91.4 |  |  |  | 10.9 |  |  |  | 0.1 |  |  |  | 102.4 |
Stock-based compensation |  |  | 2.1 |  |  |  | 0.4 |  |  |  | 13.7 |  |  |  | 16.2 |
Accrual basis additions to capital expenditures |  |  | 10.7 |  |  |  | 3.6 |  |  |  | — |  |  |  | 14.3 |
Schedule of Goodwill and Intangible Assets by Segment | (a) We do not allocate corporate expenses to the operating segments.
Goodwill and Intangible Assets |  | Composite |  |  | Engineered |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Total |
Balance at December 31, 2021 |  | $ | 93.4 |  |  | $ | 174.1 |  |  | $ | 267.5 |
Amortization expense |  |  | (0.4 | ) |  |  | (1.3 | ) |  |  | (1.7 | )
Currency translation adjustments |  |  | (10.2 | ) |  |  | (2.5 | ) |  |  | (12.7 | )
Balance at September 30, 2022 |  | $ | 82.8 |  |  | $ | 170.3 |  |  | $ | 253.1 |

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