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Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

			Years Ended December 31,
In millions			2022						2021						2020
Net sales
Performance Materials			$	548.5					$	516.8					$	510.0
Performance Chemicals			1,119.8						874.7						706.1
Total net sales (1)			$	1,668.3					$	1,391.5					$	1,216.1
Segment EBITDA (2)
Performance Materials			$	252.2					$	249.4					$	249.2
Performance Chemicals			200.4						172.8						148.7
Total Segment EBITDA (2)			$	452.6					$	422.2					$	397.9
Interest expense			(61.8)						(51.7)						(47.1)
Interest income			7.5						4.0						4.9
(Provision) benefit for income taxes			(58.0)						(44.7)						(53.7)
Depreciation and amortization - Performance Materials			(36.1)						(36.8)						(31.2)
Depreciation and amortization - Performance Chemicals			(72.7)						(73.1)						(69.0)
Pension and postretirement settlement and curtailment (charges) income, net (3)			(0.2)						—						(0.1)
Restructuring and other income (charges), net (4)			(13.8)						(16.2)						(18.5)
Acquisition and other-related costs (5)			(5.9)						(0.6)						(1.8)
Litigation verdict charge (6)			—						(85.0)						—
Net income (loss)			$	211.6					$	118.1					$	181.4

_______________

(1) Relates to external customers only, all intersegment sales and related profit have been eliminated in consolidation.

(2) Segment EBITDA is the primary measure used by our chief operating decision maker to evaluate the performance of and allocate resources among our operating segments. Segment EBITDA is defined as segment revenue less segment operating expenses (segment operating expenses consist of costs of sales, selling, general and administrative expenses, research and technical expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from segment EBITDA: interest expense, net, associated with corporate debt facilities, income taxes, depreciation, amortization, restructuring and other (income) charges, net, acquisition and other-related costs, litigation verdict charges, pension and postretirement settlement and curtailment (income) charges, net.

(3) For all years, the charges relate to the Performance Materials segment. Our pension and postretirement settlement and curtailment charges (income) are related to the acceleration of prior service costs, as a result of a reduction in the number of participants within the Union Hourly defined benefit pension plan. These are excluded from our segment results because we consider these costs to be outside our operational performance. We continue to include the service cost, amortization of prior service cost, interest costs, expected return on plan assets, and amortized actual gains and losses in our segment EBITDA.

(4) For the year ended December 31, 2022, charges of $4.8 million and $9.0 million relate to the Performance Materials segment and Performance Chemicals segment, respectively. For the year ended December 31, 2021, charges of $6.0 million and $10.2 million related to the Performance Materials segment and Performance Chemicals segment, respectively. For the year ended December, 31, 2020, charges of $7.4 million and $11.1 million relate to the Performance Materials segment and Performance Chemicals segment, respectively. Information about how restructuring and other (income) charges relate to our reporting segments is discussed in Note 15.

(5) For the years ended December 31, 2022 and 2021, charges of $0.3 million and $0.2 million relate to the acquisition of a strategic investment in the Performance Materials segment. For the year ended December 31, 2022, charges of $5.6 million relate to the acquisition and integration of Ozark Materials into the Performance Chemicals segment. For more detail on these charges see Note 16. For the years ended December 31, 2021 and 2020, charges of $0.4 million and $1.8 million relate to the integration of the Caprolactone business, now referred to as our engineered polymers product line, into our Performance Chemicals segment.

(6) For the year ended December 31, 2021, litigation verdict charge relates to the Performance Materials segment. Refer to Note 18 for additional information.

Net Sales to External Customers by Product Line

			Depreciation and amortization																		Capital expenditures
			Years Ended December 31,																		Years Ended December 31,
In millions			2022						2021						2020						2022						2021						2020
Performance Materials			$	36.1					$	36.8					$	31.2					$	59.8					$	46.2					$	30.6
Performance Chemicals			72.7						73.1						69.0						82.7						57.6						51.5
Total			$	108.8					$	109.9					$	100.2					$	142.5					$	103.8					$	82.1

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Property, plant, and equipment, net			December 31,
In millions			2022						2021
North America			$	636.7					$	551.1
Asia Pacific			70.4						75.0
Europe, Middle East, and Africa			91.4						93.5
South America			0.1						0.1
Property, plant, and equipment, net			$	798.6					$	719.7

Total assets			December 31,
In millions			2022						2021
Performance Materials			$	784.6					$	716.2
Performance Chemicals			1,877.4						1,675.6
Total segment assets (1)			$	2,662.0					$	2,391.8
Corporate and other			74.5						77.2
Total assets			$	2,736.5					$	2,469.0

_______________

(1) Segment assets exclude assets not specifically managed as part of one specific segment herein referred to as "Corporate and other."

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