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v3.22.2.2

Segment Information | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Segment Information | Note 9 — Segment Information The financial results for our operating segments are prepared using a management approach, which is consistent with the basis and manner in which we internally segregate financial information for the purpose of assisting in making internal operating decisions. We evaluate the performance of our operating segments based on operating income, and generally account for intersegment sales based on arm’s length prices. Corporate and certain other expenses are not allocated to the operating segments, except to the extent that the expense can be directly attributable to the business segment. 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 |
(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 |
At September 30, 2022, the balance of goodwill and intangible assets was $183.4 million and $69.7 million, respectively.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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