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v3.25.3

Segment and Related Information (Tables) | 9 Months Ended
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Sep. 28, 2025
Segment and Related Information [Abstract] |
Segment Information | 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 |
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 |
Reconciliation of Segment Income to Consolidated |
| 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 |
Reconciliation of Segment Assets to Consolidated | 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 |
Sales by Product Category | 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 |

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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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