XML 32 R19.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment and Related Information | 9 Months Ended
--- | ---
Sep. 28, 2025
Segment and Related Information [Abstract] |
Segment and Related Information | Note 13. Segment and Related Information The Company determines its operating segments based on the discrete financial information that is regularly evaluated by its chief operating decision maker, our Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The Company’s operating segments are strategic business units that offer different products and serve different markets. They are managed separately and require different technology and marketing strategies. The Company has two reportable segments: Consumer & Specialties and Engineered Solutions. See Note 1 to the Condensed Consolidated Financial Statements. The Company evaluates performance based on the operating income of the respective business units. The costs deducted to arrive at operating profit do not include several items, such as net interest or income tax expense. Depreciation expense related to corporate assets is allocated to the business segments and is included in their income from operations. However, such corporate depreciable assets are not included in the segment assets. Intersegment sales and transfers are not significant. Segment revenues, expenses, operating income and a reconciliation of the operating segment totals to the applicable line items on the Condensed Consolidated Financial Statements is as follows for the three and nine-month periods ended September 28, 2025 and September 29, 2024 is as follows:
| Three Months Ended
| Sep. 28, 2025 |  | Sep. 29, 2024
|  | Consumer & |  |  |  | Engineered |  |  |  |  |  |  |  | Consumer & |  |  |  | Engineered |  |  |  |  |
(in millions of dollars) |  | Specialties |  |  |  | Solutions |  |  |  | Total |  |  |  | Specialties |  |  |  | Solutions |  |  |  | Total |
Net sales | $ | 277.4 |  |  | $ | 255.0 |  |  | $ | 532.4 |  |  | $ | 280.3 |  |  | $ | 244.4 |  |  | $ | 524.7 |
Cost of goods sold |  | 218.0 |  |  |  | 177.4 |  |  |  | 395.4 |  |  |  | 217.8 |  |  |  | 171.7 |  |  |  | 389.5 |
Segment production margin |  | 59.4 |  |  |  | 77.6 |  |  |  | 137.0 |  |  |  | 62.5 |  |  |  | 72.7 |  |  |  | 135.2 |
Marketing and administrative expenses |  | 18.9 |  |  |  | 30.3 |  |  |  | 49.2 |  |  |  | 17.5 |  |  |  | 31.3 |  |  |  | 48.8 |
Research and development expenses |  | 3.1 |  |  |  | 2.5 |  |  |  | 5.6 |  |  |  | 3.3 |  |  |  | 2.6 |  |  |  | 5.9 |
Segment income from operations | $ | 37.4 |  |  | $ | 44.8 |  |  | $ | 82.2 |  |  | $ | 41.7 |  |  | $ | 38.8 |  |  | $ | 80.5 |
| Nine Months Ended
| Sep. 28, 2025 |  | Sep. 29, 2024
|  | Consumer & |  |  |  | Engineered |  |  |  |  |  |  |  | Consumer & |  |  |  | Engineered |  |  |  |  |
(in millions of dollars) |  | Specialties |  |  |  | Solutions |  |  |  | Total |  |  |  | Specialties |  |  |  | Solutions |  |  |  | Total |
Net sales | $ | 823.4 |  |  | $ | 729.7 |  |  | $ | 1,553.1 |  |  | $ | 861.5 |  |  | $ | 738.9 |  |  | $ | 1,600.4 |
Cost of goods sold |  | 651.9 |  |  |  | 507.7 |  |  |  | 1,159.6 |  |  |  | 670.6 |  |  |  | 514.8 |  |  |  | 1,185.4 |
Segment production margin |  | 171.5 |  |  |  | 222.0 |  |  |  | 393.5 |  |  |  | 190.9 |  |  |  | 224.1 |  |  |  | 415.0 |
Marketing and administrative expenses |  | 57.1 |  |  |  | 91.7 |  |  |  | 148.8 |  |  |  | 53.8 |  |  |  | 94.3 |  |  |  | 148.1 |
Research and development expenses |  | 9.7 |  |  |  | 7.4 |  |  |  | 17.1 |  |  |  | 9.5 |  |  |  | 7.8 |  |  |  | 17.3 |
Restructuring and other items |  | 5.8 |  |  |  | 3.3 |  |  |  | 9.1 |  |  |  | - |  |  |  | - |  |  |  | - |
Gain on sale of assets, net |  | - |  |  |  | (5.6 | ) |  |  | (5.6 | ) |  |  | - |  |  |  | - |  |  |  | - |
Segment income from operations | $ | 98.9 |  |  | $ | 125.2 |  |  | $ | 224.1 |  |  | $ | 127.6 |  |  | $ | 122.0 |  |  | $ | 249.6 |
| Three Months Ended |  | Nine Months Ended
|  | Sep. 28, |  |  |  | Sep. 29, |  |  |  | Sep. 28, |  |  |  | Sep. 29, |
(in millions of dollars) |  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Segment income from operations | $ | 82.2 |  |  | $ | 80.5 |  |  | $ | 224.1 |  |  | $ | 249.6 |
Interest expense, net |  | (13.8 | ) |  |  | (14.0 | ) |  |  | (41.6 | ) |  |  | (43.8 | )
Other non-operating deductions, net |  | (0.5 | ) |  |  | (3.1 | ) |  |  | (4.4 | ) |  |  | (4.4 | )
Unallocated expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for litigation reserve and credit losses |  | - |  |  |  | - |  |  |  | 215.0 |  |  |  | 30.0 |
Restructuring and other items |  | - |  |  |  | - |  |  |  | 2.2 |  |  |  | - |
Litigation expenses |  | 7.5 |  |  |  | 2.6 |  |  |  | 14.5 |  |  |  | 8.9 |
Unallocated corporate expenses |  | 3.8 |  |  |  | 1.3 |  |  |  | 7.0 |  |  |  | 8.3 |
Income (loss) before taxes and equity in earnings | $ | 56.6 |  |  | $ | 59.5 |  |  | $ | (60.6 | ) |  | $ | 154.2 |
Segment information is as follows for the three and nine-month periods ended September 28, 2025 and September 29, 2024:
| Three Months Ended |  | Nine Months Ended
|  | Sep. 28, |  |  |  | Sep. 29, |  |  |  | Sep. 28, |  |  |  | Sep. 29, |
(in millions of dollars) |  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer & Specialties | $ | 10.8 |  |  | $ | 11.6 |  |  | $ | 31.8 |  |  | $ | 35.2 |
Engineered Solutions |  | 11.6 |  |  |  | 11.5 |  |  |  | 36.1 |  |  |  | 35.4 |
Total | $ | 22.4 |  |  | $ | 23.1 |  |  | $ | 67.9 |  |  | $ | 70.6 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer & Specialties | $ | 17.4 |  |  | $ | 8.3 |  |  | $ | 47.8 |  |  | $ | 27.5 |
Engineered Solutions |  | 9.0 |  |  |  | 15.1 |  |  |  | 23.3 |  |  |  | 30.8 |
Corporate |  | 0.9 |  |  |  | 1.3 |  |  |  | 3.6 |  |  |  | 3.1 |
Total | $ | 27.3 |  |  | $ | 24.7 |  |  | $ | 74.7 |  |  | $ | 61.4 |
The Company’s segment assets as of September 28, 2025 and December 31, 2024 are as follows:
|  | Sep. 28, |  |  |  | Dec. 31, |
(in millions of dollars) |  | 2025 |  |  |  | 2024 |
Segment Assets |  |  |  |  |  |  |
Consumer & Specialties | $ | 1,338.8 |  |  | $ | 1,289.4 |
Engineered Solutions |  | 2,056.4 |  |  |  | 2,028.0 |
Corporate |  | 63.6 |  |  |  | 76.5 |
Total | $ | 3,458.8 |  |  | $ | 3,393.9 |
The Company’s sales by product category are as follows:
| Three Months Ended |  | Nine Months Ended
|  | Sep. 28, |  |  |  | Sep. 29, |  |  |  | Sep. 28, |  |  |  | Sep. 29, |
(in millions of dollars) |  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Household & Personal Care | $ | 129.8 |  |  | $ | 130.9 |  |  | $ | 380.3 |  |  | $ | 396.1 |
Specialty Additives |  | 147.6 |  |  |  | 149.4 |  |  |  | 443.1 |  |  |  | 465.4 |
High-Temperature Technologies |  | 178.9 |  |  |  | 174.8 |  |  |  | 526.7 |  |  |  | 536.8 |
Environmental & Infrastructure |  | 76.1 |  |  |  | 69.6 |  |  |  | 203.0 |  |  |  | 202.1 |
Total | $ | 532.4 |  |  | $ | 524.7 |  |  | $ | 1,553.1 |  |  | $ | 1,600.4 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration