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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Operating Segment Reporting Information

Financial information for our operating segments for the quarters and six months ended June 30, 2025 and 2024 were as follows:



	Composite		Engineered			Corporate &
(In millions)	Materials		Products			Other (a)			Total
Quarter Ended June 30, 2025
Net sales to external customers	$	393.2	$	96.7		$	—		$	489.9
Intersegment sales		19.4		0.4			(19.8	)		—
Total sales		412.6		97.1			(19.8	)		489.9
Cost of sales		315.7		81.5			(18.8	)		378.4
Gross margin		96.9		15.6			(1.0	)		111.5
Selling, general and administrative expenses		26.3		4.0			12.7			43.0
Research and technology expenses		12.3		1.0			1.0			14.3
Other operating expense		—		24.2			—			24.2
Operating income (loss)		58.3		(13.6	)		(14.7	)		30.0
Depreciation and amortization		26.9		2.7			—			29.6
Stock-based compensation		0.9		0.2			1.6			2.7
Accrual basis additions to capital expenditures		13.1		1.6			—			14.7

Quarter Ended June 30, 2024
Net sales to external customers	$	408.6	$	91.8		$	—		$	500.4
Intersegment sales		23.9		0.6			(24.5	)		—
Total sales		432.5		92.4			(24.5	)		500.4
Cost of sales		322.5		72.7			(21.4	)		373.8
Gross margin		110.0		19.7			(3.1	)		126.6
Selling, general and administrative expenses		23.2		5.3			11.4			39.9
Research and technology expenses		12.5		1.2			1.0			14.7
Other operating expense		—		0.2			—			0.2
Operating income (loss)		74.3		13.0			(15.5	)		71.8
Depreciation and amortization		27.3		3.7			—			31.0
Stock-based compensation		1.1		0.3			1.9			3.3
Accrual basis additions to capital expenditures		18.6		3.9			—			22.5

Six Months Ended June 30, 2025
Net sales to external customers	$	758.5	$	187.9		$	—		$	946.4
Intersegment sales		39.5		0.7			(40.2	)		—
Total sales		798.0		188.6			(40.2	)		946.4
Cost of sales		609.2		161.4			(38.1	)		732.5
Gross margin		188.8		27.2			(2.1	)		213.9
Selling, general and administrative expenses		51.8		8.3			26.2			86.3
Research and technology expenses		24.1		2.1			1.9			28.1
Other operating expense		—		25.3			—			25.3
Operating income (loss)		112.9		(8.5	)		(30.2	)		74.2
Depreciation and amortization		54.1		6.5			—			60.6
Stock-based compensation		3.9		1.0			7.5			12.4
Accrual basis additions to capital expenditures		28.6		3.2			—			31.8

Six Months Ended June 30, 2024
Net sales to external customers	$	788.1	$	184.6		$	—		$	972.7
Intersegment sales		47.2		0.9			(48.1	)		—
Total sales	$	835.3	$	185.5		$	(48.1	)	$	972.7
Cost of sales		622.8		146.0			(40.9	)		727.9
Gross margin		212.5		39.5			(7.2	)		244.8
Selling, general and administrative expenses		48.6		10.6			29.7			88.9
Research and technology expenses		25.1		2.4			2.3			29.8
Other operating expense		0.8		0.6			—			1.4
Operating income (loss)		138.0		25.9			(39.2	)		124.7
Depreciation and amortization		54.5		7.5			—			62.0
Stock-based compensation		4.2		1.1			11.1			16.4
Accrual basis additions to capital expenditures		35.3		5.8			—			41.1

(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, 2024	$	83.1		$	153.9		$	237.0
Amortization expense		(0.8	)		(2.0	)		(2.8	)
Currency translation adjustments		8.9			0.1			9.0
Balance at June 30, 2025	$	91.2		$	152.0		$	243.2

Reconciliation of Assets from Segment to Consolidated [Table Text Block]


	Composite		Engineered		Corporate &
(In millions)	Materials		Products		Other (a)			Total
Segment assets
June 30, 2025	$	2,374.8	$	593.0	$	(124.5	)	$	2,843.3
December 31, 2024		2,147.6		541.4		36.6			2,725.6