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Segment Information | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Information | Note 18 — Segment Information The financial results for our 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 segments based on operating income, and generally account for intersegment sales based on arm’s length prices. We report two segments, Composite Materials and Engineered Products. Corporate and certain other expenses are not allocated to the segments, except to the extent that the expense can be directly attributable to the segment. Corporate & Other is shown to reconcile to Hexcel’s consolidated results. In addition to the product line-based segmentation of our business, we also monitor sales into our principal end markets as a means to understanding demand for our products. The following table presents financial information on our segments as of December 31, 2023, 2022 and 2021 and for the years then ended.
(In millions) |  | Composite Materials |  |  | Engineered Products |  |  | Corporate & Other |  |  | Total |
Third-party sales |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 1,474.2 |  |  | $ | 314.8 |  |  | $ | — |  |  | $ | 1,789.0 |
2022 |  |  | 1,279.7 |  |  |  | 298.0 |  |  |  | — |  |  |  | 1,577.7 |
2021 |  |  | 1,019.4 |  |  |  | 305.3 |  |  |  | — |  |  |  | 1,324.7 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 70.6 |  |  | $ | 2.4 |  |  | $ | (73.0 | ) |  | $ | — |
2022 |  |  | 66.3 |  |  |  | 2.8 |  |  |  | (69.1 | ) |  |  | — |
2021 |  |  | 56.7 |  |  |  | 2.4 |  |  |  | (59.1 | ) |  |  | — |
Operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 237.9 |  |  | $ | 32.8 |  |  | $ | (55.4 | ) |  | $ | 215.3 |
2022 |  |  | 178.2 |  |  |  | 36.6 |  |  |  | (39.6 | ) |  |  | 175.2 |
2021 |  |  | 88.1 |  |  |  | 20.2 |  |  |  | (56.5 | ) |  |  | 51.8 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 110.4 |  |  | $ | 14.4 |  |  | $ | — |  |  | $ | 124.8 |
2022 |  |  | 112.0 |  |  |  | 14.1 |  |  |  | 0.1 |  |  |  | 126.2 |
2021 |  |  | 123.4 |  |  |  | 14.5 |  |  |  | 0.1 |  |  |  | 138.0 |
Equity in earnings (losses) from affiliated companies |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | — |  |  | $ | 8.1 |  |  | $ | — |  |  | $ | 8.1 |
2022 |  |  | — |  |  |  | 8.1 |  |  |  | — |  |  |  | 8.1 |
2021 |  |  | (0.1 | ) |  |  | 0.2 |  |  |  | (0.1 | ) |  |  | — |
Other operating (income) expense |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 1.2 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | 1.4 |
2022 |  |  | 7.5 |  |  |  | — |  |  |  | (19.4 | ) |  |  | (11.9 | )
2021 |  |  | 17.8 |  |  |  | 0.1 |  |  |  | 0.30 |  |  |  | 18.2 |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 2,309.3 |  |  | $ | 543.1 |  |  | $ | 66.1 |  |  | $ | 2,918.5 |
2022 |  |  | 2,269.4 |  |  |  | 523.2 |  |  |  | 44.7 |  |  |  | 2,837.3 |
2021 |  |  | 2,258.2 |  |  |  | 475.6 |  |  |  | 85.6 |  |  |  | 2,819.4 |
Investments in affiliated companies |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | — |  |  | $ | — |  |  | $ | 5.0 |  |  | $ | 5.0 |
2022 |  |  | 1.5 |  |  |  | 38.6 |  |  |  | 7.5 |  |  |  | 47.6 |
2021 |  |  | 1.7 |  |  |  | 35.3 |  |  |  | 7.6 |  |  |  | 44.6 |
Accrual basis additions to property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 70.9 |  |  | $ | 50.7 |  |  | $ | — |  |  | $ | 121.6 |
2022 |  |  | 58.3 |  |  |  | 11.4 |  |  |  | 0.1 |  |  |  | 69.8 |
2021 |  |  | 35.7 |  |  |  | 5.7 |  |  |  | — |  |  |  | 41.4 |
Geographic Data Net sales and long-lived assets, by geographic area, consisted of the following for the three years ended December 31, 2023, 2022 and 2021:
(In millions) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net Sales by Geography (a): |  |  |  |  |  |  |  |  |
United States |  | $ | 888.2 |  |  | $ | 819.4 |  |  | $ | 685.0 |
International |  |  |  |  |  |  |  |  |
France |  |  | 320.4 |  |  |  | 235.9 |  |  |  | 205.0 |
Spain |  |  | 183.2 |  |  |  | 158.9 |  |  |  | 115.8 |
Germany |  |  | 153.6 |  |  |  | 138.6 |  |  |  | 96.9 |
United Kingdom |  |  | 150.4 |  |  |  | 119.0 |  |  |  | 91.3 |
Austria |  |  | 56.1 |  |  |  | 72.8 |  |  |  | 72.9 |
Other |  |  | 37.1 |  |  |  | 33.1 |  |  |  | 57.8 |
Total international |  |  | 900.8 |  |  |  | 758.3 |  |  |  | 639.7 |
Total consolidated net sales |  | $ | 1,789.0 |  |  | $ | 1,577.7 |  |  | $ | 1,324.7 |
Net Sales to External Customers (b): |  |  |  |  |  |  |  |  |
United States |  | $ | 737.5 |  |  | $ | 667.7 |  |  | $ | 546.1 |
International |  |  |  |  |  |  |  |  |
Germany |  |  | 141.2 |  |  | 122.3 |  |  | 107.3 |
France |  |  | 174.7 |  |  | 143.4 |  |  | 113.1 |
Spain |  |  | 138.1 |  |  | 124.7 |  |  | 91.4 |
United Kingdom |  |  | 65.3 |  |  |  | 51.1 |  |  |  | 43.4 |
Other |  |  | 532.2 |  |  |  | 468.5 |  |  |  | 423.4 |
Total international |  |  | 1,051.5 |  |  |  | 910.0 |  |  |  | 778.6 |
Total consolidated net sales |  | $ | 1,789.0 |  |  | $ | 1,577.7 |  |  | $ | 1,324.7 |
Long-lived Assets (c): |  |  |  |  |  |  |  |  |
United States |  | $ | 1,410.3 |  |  | $ | 1,420.9 |  |  | $ | 1,456.5 |
International |  |  |  |  |  |  |  |  |
France |  | $ | 322.7 |  |  | 318.1 |  |  | 349.6 |
United Kingdom |  |  | 107.2 |  |  | 107.5 |  |  | 130.9 |
Spain |  |  | 45.5 |  |  | 45.8 |  |  | 51.5 |
Other |  |  | 73.6 |  |  | 71.2 |  |  | 75.8 |
Total international |  |  | 549.0 |  |  |  | 542.6 |  |  |  | 607.8 |
Total consolidated long-lived assets |  | $ | 1,959.3 |  |  | $ | 1,963.5 |  |  | $ | 2,064.3 |
(a) Net sales by geography based on the location in which the product sold was manufactured. (b) Net sales to external customers based on the location to which the product sold was delivered. (c) Long-lived assets primarily consist of property, plant and equipment, net and goodwill at December 31, 2023, 2022 and 2021. Also included are right of use assets related to operating leases. Significant Customers Approximately 39%, 38% and 33% of our 2023, 2022 and 2021 net sales, respectively were to Airbus and its subcontractors and approximately 15%, 14% and 16% of our 2023, 2022 and 2021 net sales, respectively were to Boeing and its subcontractors.

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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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