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Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2024
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 three months ended March 31, 2024 and 2023 was as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 379.5 |  |  | $ | 92.8 |  |  | $ | — |  |  | $ | 472.3 |
Intersegment sales |  |  | 23.3 |  |  |  | 0.3 |  |  |  | (23.6 | ) |  |  | — |
Total sales |  | $ | 402.8 |  |  | $ | 93.1 |  |  | $ | (23.6 | ) |  | $ | 472.3 |
Other operating expense |  |  | 0.8 |  |  |  | 0.4 |  |  |  | — |  |  |  | 1.2 |
Operating income (loss) |  |  | 63.7 |  |  |  | 12.9 |  |  |  | (23.7 | ) |  |  | 52.9 |
Depreciation and amortization |  |  | 27.2 |  |  |  | 3.8 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 3.1 |  |  |  | 0.8 |  |  |  | 9.2 |  |  |  | 13.1 |
Accrual basis additions to capital expenditures |  |  | 16.7 |  |  |  | 1.9 |  |  |  | - |  |  |  | 18.6 |
Quarter Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 378.2 |  |  | $ | 79.5 |  |  | $ | — |  |  | $ | 457.7 |
Intersegment sales |  |  | 19.3 |  |  |  | 1.0 |  |  |  | (20.3 | ) |  |  | — |
Total sales |  | $ | 397.5 |  |  | $ | 80.5 |  |  | $ | (20.3 | ) |  | $ | 457.7 |
Other operating expense |  |  | 0.2 |  |  |  | - |  |  |  | - |  |  |  | 0.2 |
Operating income (loss) |  |  | 73.2 |  |  |  | 12.0 |  |  |  | (22.4 | ) |  |  | 62.8 |
Depreciation and amortization |  |  | 27.2 |  |  |  | 3.5 |  |  |  | — |  |  |  | 30.7 |
Stock-based compensation |  |  | 3.1 |  |  |  | 0.8 |  |  |  | 9.0 |  |  |  | 12.9 |
Accrual basis additions to capital expenditures |  |  | 13.1 |  |  |  | 3.7 |  |  |  | — |  |  |  | 16.8 |
(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, 2023 |  | $ | 87.2 |  |  | $ | 164.1 |  |  | $ | 251.3 |
Amortization expense |  |  | (0.4 | ) |  |  | (1.2 | ) |  |  | (1.6 | )
Currency translation adjustments |  |  | (1.0 | ) |  |  | — |  |  |  | (1.0 | )
Balance at March 31, 2024 |  | $ | 85.8 |  |  | $ | 162.9 |  |  | $ | 248.7 |
At March 31, 2024, the balance of goodwill and intangible asse ts was $187.8 million and $60.9 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 -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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