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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Operating Results and Other Financial Data

Segment operating results and other financial data for the quarters and nine months ended September 30, 2023 and 2022 were as follows:

			Quarters Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(in millions)
Sales
Sealing Technologies			$	161.4					$	157.9					$	511.4					$	467.4
Advanced Surface Technologies			89.4						122.5						299.1						360.7
			250.8						280.4						810.5						828.1
Intersegment sales			(0.1)						(0.3)						(0.3)						(0.8)
Total sales			$	250.7					$	280.1					$	810.2					$	827.3
Adjusted Segment EBITDA
Sealing Technologies			$	48.0					$	39.7					$	153.9					$	118.1
Advanced Surface Technologies			19.0						39.9						72.6						112.6
			$	67.0					$	79.6					$	226.5					$	230.7
Reconciliation of Adjusted Segment EBITDA to income from continuing operations before income taxes
Income from continuing operations before income taxes			$	22.9					$	35.9					$	28.4					$	84.8
Acquisition and divestiture expenses			—						—						—						0.4
Non-controlling interest compensation allocation			—						(0.6)						(0.3)						(0.1)
Amortization of fair value adjustment to acquisition date inventory			—						1.0						—						12.3
Restructuring and impairment expense			2.0						0.1						2.6						1.2
Depreciation and amortization expense			23.5						25.7						70.9						77.7
Corporate expenses			9.4						9.1						35.1						31.4
Interest expense, net			7.1						9.3						23.6						23.9
Goodwill impairment			—						—						60.8						—
Other expense (income), net			2.1						(0.9)						5.4						(0.9)
Adjusted Segment EBITDA			$	67.0					$	79.6					$	226.5					$	230.7

Schedule of Total Assets Segment

Segment assets are as follows:

			September 30, 2023						December 31, 2022
			(in millions)
Sealing Technologies			$	693.3					$	689.6
Advanced Surface Technologies			1,395.4						1,519.6
Corporate			412.6						422.7
Discontinued operations			—						15.9
			$	2,501.3					$	2,647.8

Schedule of Disaggregation of Revenue

Below is a summary of our third-party sales by major end market with which we did business for the quarters and nine months ended September 30, 2023 and 2022:

			Quarter Ended September 30, 2023
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	11.2					$	2.9					$	14.1
Chemical and material processing			20.8						—						20.8
Food and pharmaceutical			15.9						—						15.9
General industrial			39.4						4.8						44.2
Commercial vehicle			51.5						—						51.5
Oil and gas			4.7						1.9						6.6
Power generation			15.6						—						15.6
Semiconductors			2.2						79.8						82.0
Total third-party sales			$	161.3					$	89.4					$	250.7

			Quarter Ended September 30, 2022
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	10.9					$	1.5					$	12.4
Chemical and material processing			19.1						—						19.1
Food and pharmaceutical			16.7						—						16.7
General industrial			40.5						7.9						48.4
Commercial vehicle			51.7						—						51.7
Oil and gas			5.5						1.6						7.1
Power generation			10.9						—						10.9
Semiconductors			2.3						111.5						113.8
Total third-party sales			$	157.6					$	122.5					$	280.1

			Nine Months Ended September 30, 2023
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	37.4					$	6.9					$	44.3
Chemical and material processing			65.3						—						65.3
Food and pharmaceutical			50.8						—						50.8
General industrial			127.6						19.6						147.2
Commercial vehicle			157.2						—						157.2
Oil and gas			15.3						6.4						21.7
Power generation			51.2						—						51.2
Semiconductors			6.5						266.0						272.5
Total third-party sales			$	511.3					$	298.9					$	810.2

			Nine Months Ended September 30, 2022
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	29.7					$	4.6					$	34.3
Chemical and material processing			59.1						—						59.1
Food and pharmaceutical			51.4						—						51.4
General industrial			126.5						24.8						151.3
Commercial vehicle			139.9						—						139.9
Oil and gas			16.1						3.3						19.4
Power generation			38.7						0.1						38.8
Semiconductors			5.3						327.8						333.1
Total third-party sales			$	466.7					$	360.6					$	827.3

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