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Segment and Related Information (Tables) | 9 Months Ended
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Sep. 29, 2024
Segment and Related Information [Abstract] |
Segment Information | The Company has two reportable segments: Consumer & Specialties and Engineered Solutions. See Note 1 to the Condensed Consolidated Financial Statements. Segment information for the three and nine-month periods ended September 29, 2024 and October 1, 2023 is as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions of dollars) |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |  |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Consumer & Specialties |  | $ | 280.3 |  |  | $ | 291.2 |  |  | $ | 861.5 |  |  | $ | 878.8 |
Engineered Solutions |  |  | 244.4 |  |  |  | 256.6 |  |  |  | 738.9 |  |  |  | 766.6 |
Total |  | $ | 524.7 |  |  | $ | 547.8 |  |  | $ | 1,600.4 |  |  | $ | 1,645.4 |
Income (loss) from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer & Specialties |  | $ | 41.7 |  |  | $ | (46.6 | ) |  | $ | 127.6 |  |  | $ | 5.0 |
Engineered Solutions |  |  | 38.8 |  |  |  | 40.6 |  |  |  | 122.0 |  |  |  | 111.1 |
Total |  | $ | 80.5 |  |  | $ | (6.0 | ) |  | $ | 249.6 |  |  | $ | 116.1 |
Reconciliation of Income (Loss) from Operations | A reconciliation of the totals reported for the operating segments to the applicable line items in the condensed consolidated financial statements is as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions of dollars) |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |  |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |
Income (loss) from operations for reportable segments |  | $ | 80.5 |  |  | $ | (6.0 | ) |  | $ | 249.6 |  |  | $ | 116.1 |
Provision for credit losses |  |  | — |  |  |  | — |  |  |  | (30.0 | ) |  |  | — |
Restructuring and other items, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2.8 | )
Acquisition-related expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (0.3 | )
Litigation expenses |  |  | (2.6 | ) |  |  | — |  |  |  | (8.9 | ) |  |  | — |
Unallocated and other corporate expenses |  |  | (1.3 | ) |  |  | (1.9 | ) |  |  | (8.3 | ) |  |  | (8.0 | )
Consolidated income (loss) from operations |  |  | 76.6 |  |  |  | (7.9 | ) |  |  | 202.4 |  |  |  | 105.0 |
Non-operating deductions, net |  |  | (17.1 | ) |  |  | (14.7 | ) |  |  | (48.2 | ) |  |  | (45.9 | )
Income (loss) before tax and equity in earnings |  | $ | 59.5 |  |  | $ | (22.6 | ) |  | $ | 154.2 |  |  | $ | 59.1 |
Sales by Product Category | The Company’s sales by product category are as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions of dollars) |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |  |  | Sep. 29, 2024 |  |  | Oct. 1, 2023 |
Household & Personal Care |  | $ | 130.9 |  |  | $ | 128.9 |  |  | $ | 396.1 |  |  | $ | 383.6 |
Specialty Additives |  |  | 149.4 |  |  |  | 162.3 |  |  |  | 465.4 |  |  |  | 495.2 |
High-Temperature Technologies |  |  | 174.8 |  |  |  | 177.4 |  |  |  | 536.8 |  |  |  | 538.6 |
Environmental & Infrastructure |  |  | 69.6 |  |  |  | 79.2 |  |  |  | 202.1 |  |  |  | 228.0 |
Total |  | $ | 524.7 |  |  | $ | 547.8 |  |  | $ | 1,600.4 |  |  | $ | 1,645.4 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + 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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