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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | Financial information for our operating segments for the quarters and nine months ended September, 2024 and 2023 were as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 367.6 |  |  | $ | 88.9 |  |  | $ | — |  |  | $ | 456.5 |
Intersegment sales |  |  | 22.6 |  |  |  | 0.1 |  |  |  | (22.7 | ) |  |  | — |
Total sales |  | $ | 390.2 |  |  | $ | 89.0 |  |  | $ | (22.7 | ) |  | $ | 456.5 |
Other operating expense |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.4 |
Operating income (loss) |  |  | 56.3 |  |  |  | 10.0 |  |  |  | (13.8 | ) |  |  | 52.5 |
Depreciation and amortization |  |  | 27.3 |  |  |  | 3.7 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 0.8 |  |  |  | 0.2 |  |  |  | 1.9 |  |  |  | 2.9 |
Accrual basis additions to capital expenditures |  |  | 16.0 |  |  |  | 2.5 |  |  |  | — |  |  |  | 18.5 |
Quarter Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 340.5 |  |  | $ | 79.0 |  |  | $ | — |  |  | $ | 419.5 |
Intersegment sales |  |  | 16.2 |  |  |  | 0.2 |  |  |  | (16.4 | ) |  |  | — |
Total sales |  | $ | 356.7 |  |  | $ | 79.2 |  |  | $ | (16.4 | ) |  | $ | 419.5 |
Other operating income |  |  | (0.8 | ) |  |  | — |  |  |  | — |  |  |  | (0.8 | )
Operating income (loss) |  |  | 43.7 |  |  |  | 6.2 |  |  |  | (6.3 | ) |  |  | 43.6 |
Depreciation and amortization |  |  | 27.8 |  |  |  | 3.7 |  |  |  | — |  |  |  | 31.5 |
Stock-based compensation |  |  | 1.0 |  |  |  | 0.3 |  |  |  | 1.3 |  |  |  | 2.6 |
Accrual basis additions to capital expenditures |  |  | 15.6 |  |  |  | 2.6 |  |  |  | — |  |  |  | 18.2 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 1,155.7 |  |  | $ | 273.5 |  |  | $ | — |  |  | $ | 1,429.2 |
Intersegment sales |  |  | 69.8 |  |  |  | 1.0 |  |  |  | (70.8 | ) |  |  | — |
Total sales |  | $ | 1,225.5 |  |  | $ | 274.5 |  |  | $ | (70.8 | ) |  | $ | 1,429.2 |
Other operating expense |  |  | 1.0 |  |  |  | 0.8 |  |  |  | — |  |  |  | 1.8 |
Operating income (loss) |  |  | 194.3 |  |  |  | 35.9 |  |  |  | (53.0 | ) |  |  | 177.2 |
Depreciation and amortization |  |  | 81.8 |  |  |  | 11.2 |  |  |  | — |  |  |  | 93.0 |
Stock-based compensation |  |  | 5.0 |  |  |  | 1.3 |  |  |  | 13.0 |  |  |  | 19.3 |
Accrual basis additions to capital expenditures |  |  | 51.3 |  |  |  | 8.3 |  |  |  | — |  |  |  | 59.6 |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 1,097.2 |  |  | $ | 234.3 |  |  | $ | — |  |  | $ | 1,331.5 |
Intersegment sales |  |  | 54.0 |  |  |  | 1.7 |  |  |  | (55.7 | ) |  |  | — |
Total sales |  | $ | 1,151.2 |  |  | $ | 236.0 |  |  | $ | (55.7 | ) |  | $ | 1,331.5 |
Other operating (income) expense |  |  | (0.3 | ) |  |  | 0.2 |  |  |  | — |  |  |  | (0.1 | )
Operating income (loss) |  |  | 181.1 |  |  |  | 25.0 |  |  |  | (38.4 | ) |  |  | 167.7 |
Depreciation and amortization |  |  | 82.5 |  |  |  | 10.7 |  |  |  | — |  |  |  | 93.2 |
Stock-based compensation |  |  | 5.2 |  |  |  | 1.4 |  |  |  | 11.7 |  |  |  | 18.3 |
Accrual basis additions to capital expenditures |  |  | 41.6 |  |  |  | 47.1 |  |  |  | — |  |  |  | 88.7 |
(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 | ) |  |  | (1.3 | ) |  |  | (1.7 | )
Currency translation adjustments |  |  | 0.5 |  |  |  | (2.4 | ) |  |  | (1.9 | )
Balance at September 30, 2024 |  | $ | 87.3 |  |  | $ | 160.4 |  |  | $ | 247.7 |

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