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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | 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.
Schedule of Goodwill and Intangible Assets by Segment |
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 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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