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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Operating Results and Other Financial Data

Segment operating results and other financial data for the quarters and six months ended September 30, 2025 and 2024, with 2024 recast to reflect the revised segment reporting requirements, were as follows:

			Quarter Ended September 30, 2025
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Sales from external customers			$	178.2					$	108.4					$	286.6
Intersegment sales			—						0.1						0.1
			178.2						108.5						286.7
Reconciliation of sales
Elimination of intersegment sales															(0.1)
Total consolidated sales															286.6
Cost of sales			(90.0)						(76.6)
Selling, General, and Administrative			(42.0)						(26.8)
Other Operating1			(0.2)						—
Adjusting Items:
Acquisition expenses			2.7						—
Restructuring expense			0.2						—
Depreciation and amortization expense			8.5						16.7
Adjusted Segment EBITDA			$	57.4					$	21.8					$	79.2

			Quarter Ended September 30, 2024
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Sales from external customers			$	168.6					$	92.3					$	260.9
Intersegment sales			—						0.2						0.2
			168.6						92.5						261.1
Reconciliation of sales
Elimination of intersegment sales															(0.2)
Total consolidated sales															260.9
Cost of sales			(86.9)						(64.0)
Selling, General, and Administrative			(35.2)						(26.2)
Other Operating1			(1.0)						(3.5)
Adjusting Items:
Acquisition expenses			0.3						—
Restructuring and impairment expense			1.0						3.5
Depreciation and amortization expense			8.3						16.9
Adjusted Segment EBITDA			$	55.1					$	19.2					$	74.3

			Nine Months Ended September 30, 2025
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Sales from external customers			$	545.3					$	302.6					$	847.9
Intersegment sales			—						0.6						0.6
			545.3						303.2						848.5
Reconciliation of sales
Elimination of intersegment sales															(0.6)
Total consolidated sales															847.9
Cost of sales			(275.1)						(210.4)
Selling, General, and Administrative			(119.0)						(81.3)
Other Operating1			0.2						(0.9)
Adjusting Items:
Acquisition expenses			3.2						—
Restructuring expense, net			(0.2)						0.9
Depreciation and amortization expense			25.0						50.6
Adjusted Segment EBITDA			$	179.4					$	62.1					$	241.5

			Nine Months Ended September 30, 2024
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Sales from external customers			$	524.2					$	266.1					$	790.3
Intersegment sales			—						0.5						0.5
			524.2						266.6						790.8
Reconciliation of sales
Elimination of intersegment sales															(0.5)
Total consolidated sales															790.3
Cost of sales			(271.8)						(183.5)
Selling, General, and Administrative			(108.9)						(78.0)
Other Operating1			(2.0)						(3.5)
Adjusting Items:
Acquisition expenses			5.5						—
Restructuring and impairment expense			2.0						3.5
Depreciation and amortization expense			24.5						50.5
Adjusted Segment EBITDA			$	173.5					$	55.6					$	229.1

1 Other Operating consists primarily of restructuring related expense, net, which includes income related to gains on the sale of fixed assets as a result of restructuring actions.

			Quarters Ended September 30,												Nine Months Ended September 30,
(in millions)			2025						2024						2025						2024
Reconciliation of Income Before Income Taxes to Adjusted Segment EBITDA
Income before income taxes			$	32.1					$	24.0					$	99.9					$	74.7
Acquisition expenses			2.7						0.3						3.2						3.8
Amortization of fair value adjustment to acquisition date inventory			—						—						—						1.7
Restructuring and impairment expense, net			0.2						4.4						0.7						5.5
Depreciation and amortization expense			25.2						25.2						75.6						75.0
Corporate expenses			10.2						10.3						33.6						33.0
Interest expense, net			6.4						9.0						21.9						26.7
Other expense, net			2.4						1.1						6.6						8.7
Adjusted Segment EBITDA			$	79.2					$	74.3					$	241.5					$	229.1

Schedule of Net Sales by Geographical Area

In the table above, corporate expenses include general corporate administrative costs. Expenses not directly attributable to the segments, corporate expenses, net interest expense, and income taxes are not included in the computation of Adjusted Segment EBITDA.

			Quarters Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(in millions)												(in millions)
Net Sales by Geographic Area
United States			$	160.8					$	148.1					$	478.6					$	456.7
Europe			36.9						35.5						119.9						113.3
Rest of world			88.9						77.3						249.4						220.3
Total			$	286.6					$	260.9					$	847.9					$	790.3

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, 2025 and September 30, 2024:

			Quarter Ended September 30, 2025
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	17.6					$	4.4					$	22.0
Commercial vehicle			44.2						—						44.2
Food and pharmaceutical			18.4						—						18.4
General industrial			65.6						7.2						72.8
Oil and gas			14.8						2.1						16.9
Power generation			16.0						—						16.0
Semiconductors			1.6						94.7						96.3
Total third-party sales			$	178.2					$	108.4					$	286.6

			Quarter Ended September 30, 2024
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	16.1					$	4.7					$	20.8
Commercial Vehicle			41.1						—						41.1
Food and pharmaceutical			16.6						—						16.6
General industrial			64.6						5.8						70.4
Oil and gas			13.1						1.3						14.4
Power generation			15.5						—						15.5
Semiconductors			1.6						80.5						82.1
Total third-party sales			$	168.6					$	92.3					$	260.9

			Nine Months Ended September 30, 2025
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	55.8					$	12.0					$	67.8
Commercial vehicle			129.5						—						129.5
Food and pharmaceutical			56.1						—						56.1
General industrial			201.2						20.6						221.8
Oil and gas			45.6						5.2						50.8
Power generation			51.4						—						51.4
Semiconductors			5.7						264.8						270.5
Total third-party sales			$	545.3					$	302.6					$	847.9

			Nine Months Ended September 30, 2024
(in millions)			Sealing Technologies						Advanced Surface Technologies						Total
Aerospace			$	44.2					$	9.3					$	53.5
Commercial vehicle			134.0						—						134.0
Food and pharmaceutical			51.6						—						51.6
General industrial			195.1						18.3						213.4
Oil and gas			40.2						4.3						44.5
Power generation			52.9						—						52.9
Semiconductors			6.2						234.2						240.4
Total third-party sales			$	524.2					$	266.1					$	790.3

In 2025, we refined our end market classification and moved sales previously reported as chemical and material processing to be included in the general industrial market.

Schedule of Segment Related Capital Expenditure, Depreciation and Amortization on those Expenditures

			Quarters Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
			(in millions)
Capital Expenditures
Sealing Technologies			$	5.6					$	2.8					$	12.4					$	7.8
Advanced Surface Technologies			6.3						2.9						17.4						11.0
Total capital expenditures			$	11.9					$	5.7					$	29.8					$	18.8
Depreciation and Amortization Expense
Sealing Technologies			$	8.5					$	8.3					$	25.0					$	24.5
Advanced Surface Technologies			16.7						16.9						50.6						50.5
Total depreciation and amortization			$	25.2					$	25.2					$	75.6					$	75.0

Schedule of Total Assets Segment

Segment assets are as follows:

			September 30, 2025						December 31, 2024
			(in millions)
Assets
Sealing Technologies			$	916.6					$	883.9
Advanced Surface Technologies			1,301.1						1,330.6
Corporate			181.1						277.0
			$	2,398.8					$	2,491.5

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