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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | Financial information for our operating segments for the quarters and six months ended June 30, 2023 and 2022 were as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 378.5 |  |  | $ | 75.8 |  |  | $ | — |  |  | $ | 454.3 |
Intersegment sales |  |  | 18.5 |  |  |  | 0.5 |  |  |  | (19.0 | ) |  |  | — |
Total sales |  | $ | 397.0 |  |  | $ | 76.3 |  |  | $ | (19.0 | ) |  | $ | 454.3 |
Other operating expense |  |  | 0.3 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.5 |
Operating income (loss) |  |  | 64.2 |  |  |  | 6.8 |  |  |  | (9.7 | ) |  |  | 61.3 |
Depreciation and amortization |  |  | 27.5 |  |  |  | 3.5 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 1.1 |  |  |  | 0.3 |  |  |  | 1.4 |  |  |  | 2.8 |
Accrual basis additions to capital expenditures |  |  | 12.9 |  |  |  | 40.8 |  |  |  | — |  |  |  | 53.7 |
Quarter Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 318.1 |  |  | $ | 74.9 |  |  | $ | — |  |  | $ | 393.0 |
Intersegment sales |  |  | 18.5 |  |  |  | 1.0 |  |  |  | (19.5 | ) |  |  | — |
Total sales |  | $ | 336.6 |  |  | $ | 75.9 |  |  | $ | (19.5 | ) |  | $ | 393.0 |
Other operating expense (income) |  |  | 0.3 |  |  |  | — |  |  |  | (19.4 | ) |  |  | (19.1 | )
Operating income |  |  | 47.2 |  |  |  | 9.1 |  |  |  | 7.5 |  |  |  | 63.8 |
Depreciation and amortization |  |  | 28.1 |  |  |  | 3.5 |  |  |  | 0.1 |  |  |  | 31.7 |
Stock-based compensation |  |  | 0.9 |  |  |  | 0.3 |  |  |  | 1.2 |  |  |  | 2.4 |
Accrual basis additions to capital expenditures |  |  | 14.5 |  |  |  | 2.7 |  |  |  | — |  |  |  | 17.2 |
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 756.7 |  |  | $ | 155.3 |  |  | $ | — |  |  | $ | 912.0 |
Intersegment sales |  |  | 37.8 |  |  |  | 1.5 |  |  |  | (39.3 | ) |  |  | — |
Total sales |  | $ | 794.5 |  |  | $ | 156.8 |  |  | $ | (39.3 | ) |  | $ | 912.0 |
Other operating expense |  |  | 0.5 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.7 |
Operating income (loss) |  |  | 137.4 |  |  |  | 18.8 |  |  |  | (32.1 | ) |  |  | 124.1 |
Depreciation and amortization |  |  | 54.7 |  |  |  | 7.0 |  |  |  | — |  |  |  | 61.7 |
Stock-based compensation |  |  | 4.2 |  |  |  | 1.1 |  |  |  | 10.4 |  |  |  | 15.7 |
Accrual basis additions to capital expenditures |  |  | 26.0 |  |  |  | 44.5 |  |  |  | — |  |  |  | 70.5 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 631.9 |  |  | $ | 151.7 |  |  | $ | — |  |  | $ | 783.6 |
Intersegment sales |  |  | 35.0 |  |  |  | 1.3 |  |  |  | (36.3 | ) |  |  | — |
Total sales |  | $ | 666.9 |  |  | $ | 153.0 |  |  | $ | (36.3 | ) |  | $ | 783.6 |
Other operating expense (income) |  |  | 1.2 |  |  |  | 0.1 |  |  |  | (19.4 | ) |  |  | (18.1 | )
Operating income (loss) |  |  | 89.8 |  |  |  | 19.7 |  |  |  | (15.6 | ) |  |  | 93.9 |
Depreciation and amortization |  |  | 56.7 |  |  |  | 7.1 |  |  |  | 0.1 |  |  |  | 63.9 |
Stock-based compensation |  |  | 3.5 |  |  |  | 1.0 |  |  |  | 8.3 |  |  |  | 12.8 |
Accrual basis additions to capital expenditures |  |  | 24.6 |  |  |  | 3.7 |  |  |  | — |  |  |  | 28.3 |
(a) We do not allocate corporate expenses to the operating segments.
Schedule of Goodwill and Intangible Assets by Segment |
Goodwill and Intangible Assets |  | Composite |  |  | Engineered |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Total |
Balance at December 31, 2022 |  | $ | 86.9 |  |  | $ | 169.1 |  |  | $ | 256.0 |
Amortization expense |  |  | (0.5 | ) |  |  | (1.3 | ) |  |  | (1.8 | )
Currency translation adjustments |  |  | 1.2 |  |  |  | (1.2 | ) |  |  | — |
Balance at June 30, 2023 |  | $ | 87.6 |  |  | $ | 166.6 |  |  | $ | 254.2 |

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