XML 50 R29.htm IDEA: XBRL DOCUMENT v3.25.4
Segment Information (Notes)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company defines its segments consistent with how internally reported financial information is regularly reviewed by the chief operating decision maker to analyze financial performance, make decisions, and allocate resources. TriMas reports its operations in two segments: Packaging and Specialty Products. Each of these segments has discrete financial information that is regularly evaluated by TriMas' President and Chief Executive Officer (chief operating decision maker). The chief operating decision maker uses segment operating profit when assessing segment performance, determining resource and capital allocation and developing the overall strategic direction of the Company. The chief operating decision maker analyzes segment operating profit on a monthly basis by comparing actual results to forecasted and budgeted expectations to assess performance. During the year ended December 31, 2025, the Company updated its key reports used by its chief operating decision maker to include segment operating profit.
See below for more information regarding the types of products and services provided within each reportable segment:
Packaging – TriMas' Packaging business develops and manufactures a broad array of dispensing products (such as foaming pumps, lotion, hand soap and sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers), polymeric and steel caps and closures (such as food lids, flip-top closures, child resistant caps, beverage closures, fragrance and cosmetic caps, drum and pail closures, and flexible spouts), polymeric jar products, fully integrated dispensers for fill-ready bag-in-box applications, and consumable vascular delivery and diagnostic test components, all for a variety of consumer products submarkets including, but not limited to, beauty and personal care, food and beverage, home care, and life sciences, including, but not limited to, pharmaceutical, nutraceutical, and medical, as well as industrial markets (including agricultural).
Specialty Products – TriMas' Specialty Products segment, which includes the Norris Cylinder business, designs, manufactures and distributes highly-engineered steel cylinders for use within industrial and aerospace markets. On January 31, 2025, the Company completed the divestiture of its Arrow Engine business within its Specialty Products segment. The Arrow Engine business manufactured and distributed natural gas-fired engines for remote power generation applications and compression systems for use within the North American industrial oil and gas markets.
Corporate consists of the corporate office and related corporate activities. Corporate expenses primarily include compensation, benefits, professional services, information technology and other administrative costs. Corporate assets consist primarily of cash and cash equivalents, unallocated deferred tax assets and prepaid assets. Corporate expenses and assets reconcile reportable segment information to the consolidated totals.
Segment activity is as follows (dollars in thousands):
 PackagingSpecialty ProductsTotal
As of December 31, 2025
Net sales$535,540 $110,180 $645,720 
Cost of sales(408,110)(99,450)
Selling, general and administrative expenses(58,800)(6,330)
Other segment items (a)
(490)(210)
Segment operating profit$68,140 $4,190 $72,330 
Corporate (b)
(31,030)
Interest expense(18,030)
Other income (expense), net990 
Income from continuing operations$24,260 
As of December 31, 2024
Net sales$512,320 $118,480 $630,800 
Cost of sales(388,670)(112,590)
Selling, general and administrative expenses(56,410)(7,790)
Other segment items (c)
880 (90)
Segment operating profit$68,120 $(1,990)$66,130 
Corporate (d)
(50,960)
Interest expense(19,560)
Other income (expense), net210 
Loss from continuing operations$(4,180)
 PackagingSpecialty ProductsTotal
As of December 31, 2023
Net sales$463,600 $188,550 $652,150 
Cost of sales(354,560)(144,290)
Selling, general and administrative expenses(48,760)(7,830)
Other segment items (a)
(150)(30)
Segment operating profit$60,130 $36,400 $96,530 
Corporate (e)
(45,870)
Interest expense(15,920)
Other income (expense), net1,110 
Income from continuing operations$35,850 
__________________________
(a) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets.
(b) Includes $27.8 million of net asbestos-related benefit, $8.3 million of realignment, severance and consulting costs, $6.5 million of environmental remediation charges, $6.3 million of system implementation costs, $5.4 million gain of the sale of Arrow Engine, and $0.6 million of mergers, acquisition, diligence and transaction costs.
(c) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets and impairment of indefinite-lived intangible assets for the Packaging segment.
(d) Includes $5.5 million of asbestos-related expense, $4.7 million of system implementation costs, $3.5 million of realignment, severance and consulting costs, $3.5 million of mergers, acquisition, diligence and transaction costs, and $3.2 million of environmental remediation charges.
(e) Includes $4.2 million of realignment, severance and consulting costs, $2.2 million of mergers, aquisition, diligence and transaction costs, and $0.7 million of system implementation costs.
 PackagingSpecialty ProductsCorporateTotal
As of December 31, 2025
Capital expenditures$28,830 $5,950 $1,300 $36,080 
Depreciation and amortization34,770 3,010 430 38,210 
Total assets (a)
855,080 73,890 112,660 1,041,630 
As of December 31, 2024
Capital expenditures30,860 7,100 3,040 41,000 
Depreciation and amortization (b)
34,250 12,270 220 46,740 
Total assets811,190 89,210 31,720 932,120 
As of December 31, 2023
Capital expenditures29,060 10,410 100 39,570 
Depreciation and amortization34,170 4,130 130 38,430 
Total assets830,620 92,770 25,940 949,330 
__________________________
(a) Corporate total assets as of December, 31, 2025, includes a $53.9 million deferred tax asset as a result of the planned divestiture of Aerospace and a $34.7 million asbestos-related insurance recovery asset. See Note 22. "Income Taxes," and Note 16, "Commitment and Contingencies," for further details.
(b) Depreciation and amortization for the Specialty Products segment in 2024 includes $8.2 million of accelerated depreciation. See Note 10, "Property and Equipment, Net," for further details.
The following table presents the Company's net sales for each of the years ended December 31 and long-lived assets at each year ended December 31, by geographical area (dollars in thousands).
 As of December 31,
 202520242023
 Net
Sales		Long-lived AssetsNet
Sales		Long-lived AssetsNet
Sales		Long-lived Assets
Non-U.S.      
Europe$150,460 $237,020 $159,000 $217,110 $153,110 $238,640 
Asia Pacific34,760 33,460 33,770 29,550 34,240 27,000 
Other Americas52,510 26,490 35,080 26,560 19,590 30,310 
Total non-U.S.237,730 296,970 227,850 273,220 206,940 295,950 
Total U.S. 407,990 327,370 402,950 329,930 445,210 336,710 
Total$645,720 $624,340 $630,800 $603,150 $652,150 $632,660 
The Company's export sales from the U.S. approximated $12.9 million, $10.0 million and $27.9 million in 2025, 2024 and 2023, respectively.