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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information by Reportable Segment | Financial information by reportable segment is as follows:
(In millions) Year Ended December 31, 2024 |  |  |  |  | Color, Additives and Inks |  | Specialty Engineered Materials |  | Corporate |  | Consolidated Total |  |  |  |
Sales |  |  |  |  | $ | 2,046.5 |  |  | $ | 1,196.8 |  |  | $ | (2.9) |  |  | $ | 3,240.4 |  |  |  |  |
Cost of sales |  |  |  |  | 1,365.4 |  |  | 821.9 |  |  | (3.6) |  |  | 2,183.7 |  |  |  |  |
Selling and administrative expense |  |  |  |  | 384.9 |  |  | 207.7 |  |  | 134.8 |  |  | 727.4 |  |  |  |  |
Operating income |  |  |  |  | 296.2 |  |  | 167.2 |  |  | (134.1) |  |  | 329.3 |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (105.6) |  |  |  |  |
Other income |  |  |  |  |  |  |  |  |  |  | 1.1 |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 224.8 |  |  |  |  |
Other disclosures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  | $ | 87.5 |  |  | $ | 82.1 |  |  | $ | 10.1 |  |  | $ | 179.7 |  |  |  |  |
Capital expenditures |  |  |  |  | 33.6 |  |  | 48.7 |  |  | 39.6 |  |  | 121.9 |  |  |  |  |
Total assets |  |  |  |  | 2,574.2 |  |  | 2,452.3 |  |  | 784.6 |  |  | 5,811.1 |  |  |  |  |
Year Ended December 31, 2023 |  |  |  |  | Color, Additives and Inks |  | Specialty Engineered Materials |  | Corporate |  | Consolidated Total |  |  |  |
Sales |  |  |  |  | $ | 2,007.4 |  |  | $ | 1,138.2 |  |  | $ | (2.8) |  |  | $ | 3,142.8 |  |  |  |  |
Cost of sales |  |  |  |  | 1,376.2 |  |  | 796.4 |  |  | 77.7 |  |  | 2,250.3 |  |  |  |  |
Selling and administrative expense |  |  |  |  | 371.3 |  |  | 199.3 |  |  | 125.1 |  |  | 695.7 |  |  |  |  |
Operating income |  |  |  |  | 259.9 |  |  | 142.5 |  |  | (205.6) |  |  | 196.8 |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (115.3) |  |  |  |  |
Other income |  |  |  |  |  |  |  |  |  |  | 5.8 |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 87.3 |  |  |  |  |
Other disclosures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  | $ | 98.3 |  |  | $ | 81.5 |  |  | $ | 9.0 |  |  | $ | 188.8 |  |  |  |  |
Capital expenditures |  |  |  |  | 21.4 |  |  | 50.1 |  |  | 47.9 |  |  | 119.4 |  |  |  |  |
Total assets |  |  |  |  | 2,657.2 |  |  | 2,532.6 |  |  | 778.7 |  |  | 5,968.5 |  |  |  |  |
Year Ended December 31, 2022 |  |  |  |  | Color, Additives and Inks |  | Specialty Engineered Materials |  | Corporate |  | Consolidated Total |  |  |  |
Sales |  |  |  |  | $ | 2,355.0 |  |  | $ | 1,044.4 |  |  | $ | (2.5) |  |  | $ | 3,396.9 |  |  |  |  |
Cost of sales |  |  |  |  | 1,673.7 |  |  | 760.7 |  |  | 79.8 |  |  | 2,514.2 |  |  |  |  |
Selling and administrative expense |  |  |  |  | 380.3 |  |  | 143.6 |  |  | 115.5 |  |  | 639.4 |  |  |  |  |
Operating income |  |  |  |  | 301.0 |  |  | 140.1 |  |  | (197.8) |  |  | 243.3 |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (119.8) |  |  |  |  |
Other expense |  |  |  |  |  |  |  |  |  |  | (59.7) |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 63.8 |  |  |  |  |
Other disclosures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  | $ | 101.3 |  |  | $ | 48.7 |  |  | $ | 12.5 |  |  | $ | 162.5 |  |  |  |  |
Capital expenditures |  |  |  |  | 41.3 |  |  | 37.4 |  |  | 26.4 |  |  | 105.1 |  |  |  |  |
Schedule of Revenue and Long-Lived Assets | Our sales are primarily to customers in the United States, Canada, Mexico, Europe, South America and Asia, and the majority of our assets are located in these same geographic areas. The following is a summary of sales and property based on the geographic areas where the sales originated and where the assets are located, in addition to other relevant financial information by reportable segment:
(In millions) |  | 2024 |  | 2023 |  | 2022
Sales: |  |  |  |  |  |
United States and Canada |  | $ | 1,336.3 |  |  | $ | 1,271.2 |  |  | $ | 1,372.9 |
Latin America |  | 180.1 |  |  | 167.5 |  |  | 180.1 |
EMEA |  | 1,154.2 |  |  | 1,151.9 |  |  | 1,213.1 |
Asia |  | 569.8 |  |  | 552.2 |  |  | 630.8 |
Total Sales |  | $ | 3,240.4 |  |  | $ | 3,142.8 |  |  | $ | 3,396.9 |
Property, net: |  |  |  |  |  |
United States and Canada |  | $ | 449.8 |  |  | $ | 506.4 |  |  |
Latin America |  | 25.4 |  |  | 29.4 |  |  |
EMEA |  | 306.5 |  |  | 311.5 |  |  |
Asia |  | 173.6 |  |  | 181.6 |  |  |
Total Property, net |  | $ | 955.3 |  |  | $ | 1,028.9 |  |  |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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