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Segment Information (Notes)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information
14. Segment Information

The Company's two reportable segments are Precision Devices and MedTech & Specialty Audio. Information regarding the Company’s reportable segments is as follows:
Three Months Ended June 30, 2025
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$78.5 $67.4 $145.9 
Adjusted cost of goods sold48.1 33.3 81.4 
Adjusted research and development expenses4.0 4.6 8.6 
Adjusted selling and administrative expenses12.3 3.5 15.8 
Other segment items (1)
0.2 (0.1)0.1 
Segment adjusted earnings before interest and income taxes$13.9 $26.1 $40.0 
Less:
Corporate expenses12.3 
Stock-based compensation expense6.3 
Intangibles amortization expense4.1 
Impairment charges3.6 
Production transfer costs0.2 
Acquisition-related costs0.2 
Transition services credit(0.5)
Interest expense, net2.5 
Earnings before income taxes and discontinued operations$11.3 
(1)     Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
Three Months Ended June 30, 2024
(in millions)Precision Devices
MedTech & Specialty Audio (1)
Total
Revenues$74.1 $61.1 $135.2 
Adjusted cost of goods sold46.5 28.5 75.0 
Adjusted research and development expenses3.9 4.4 8.3 
Adjusted selling and administrative expenses11.9 3.1 15.0 
Segment adjusted earnings before interest and income taxes$11.8 $25.1 $36.9 
Less:
Corporate expenses11.7 
Stock-based compensation expense5.9 
Intangibles amortization expense4.2 
Restructuring charges0.2 
Production transfer costs0.8 
Acquisition-related costs2.0 
Other (2)
(0.3)
Interest expense, net4.6 
Earnings before income taxes and discontinued operations$7.8 
(1)     The results for MedTech & Specialty Audio have been adjusted to include sales transactions between this segment and CMM that were previously eliminated in consolidation and are now reflected as third-party transactions. Revenues and Adjusted Cost of goods sold for these transactions totaled $1.6 million and $1.5 million, respectively, for the three months ended June 30, 2024.
(2)    Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.
Six Months Ended June 30, 2025
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$151.0 $127.1 $278.1 
Adjusted cost of goods sold94.7 63.9 158.6 
Adjusted research and development expenses7.9 9.1 17.0 
Adjusted selling and administrative expenses23.6 6.9 30.5 
Other segment items (1)
0.2 (0.2)— 
Segment adjusted earnings before interest and income taxes$24.6 $47.4 $72.0 
Less:
Corporate expenses22.6 
Stock-based compensation expense16.5 
Intangibles amortization expense8.1 
Impairment charges3.6 
Restructuring charges2.9 
Production transfer costs0.4 
Acquisition-related costs0.7 
Transition services credit(1.2)
Other (2)
1.1 
Interest expense, net5.2 
Earnings before income taxes and discontinued operations$12.1 
(1)     Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(2)    Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.
Six Months Ended June 30, 2024
(in millions)Precision Devices
MedTech & Specialty Audio (1)
Total
Revenues$148.4 $120.1 $268.5 
Adjusted cost of goods sold94.0 56.1 150.1 
Adjusted research and development expenses7.6 8.7 16.3 
Adjusted selling and administrative expenses25.1 6.4 31.5 
Other segment items (2)
0.1 — 0.1 
Segment adjusted earnings before interest and income taxes$21.6 $48.9 $70.5 
Less:
Corporate expenses22.0 
Stock-based compensation expense11.0 
Intangibles amortization expense8.6 
Restructuring charges2.7 
Production transfer costs1.6 
Acquisition-related costs6.2 
Other (3)
0.6 
Interest expense, net9.0 
Earnings before income taxes and discontinued operations$8.8 
(1) The results for MedTech & Specialty Audio have been adjusted to include sales transactions between this segment and CMM that were previously eliminated in consolidation and are now reflected as third-party transactions. Revenues and Adjusted Cost of goods sold for these transactions totaled $3.5 million and $3.3 million, respectively, for the six months ended June 30, 2024.
(2)     Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(3)    Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.

Information regarding assets of the Company's reportable segments is as follows:
Total Assets
(in millions)June 30, 2025December 31, 2024
Precision Devices$581.5 $619.9 
MedTech & Specialty Audio415.6 410.6 
Corporate (1)
91.2 87.7 
Total$1,088.3 $1,118.2 
(1)     Corporate assets at both June 30, 2025 and December 31, 2024 include $77.2 million of Syntiant preferred stock received in partial consideration for the sale of the CMM business on December 27, 2024 and a note receivable from Syntiant totaling $5.9 million and $6.4 million at June 30, 2025 and December 31, 2024, respectively. Corporate assets also include the portion of right-of-use operating lease assets subleased by Syntiant, which totaled $5.3 million and $0.3 million at June 30, 2025 and December 31, 2024, respectively.

The following table details revenues by geographic location. Revenues are attributed to regions based on the location of the Company's direct customer, which in some instances is an intermediary and not necessarily the end user. The Company's businesses are based primarily in Asia, North America, and Europe.
 Three Months Ended June 30, Six Months Ended June 30,
(in millions)2025202420252024
United States$58.7 $57.9 $114.0 $116.3 
Asia58.5 43.3 106.5 85.8 
Europe24.0 26.9 48.2 53.1 
Other Americas2.5 2.5 4.9 5.1 
Other2.2 4.6 4.5 8.2 
Total$145.9 $135.2 $278.1 $268.5 
Receivables, net from contracts with customers were $87.7 million and $89.5 million as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025 and December 31, 2024, our total remaining performance obligations were immaterial.