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Operating Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | The following table presents a disaggregation of revenue from contracts with customers and other pertinent financial information, for the periods indicated; inter-segment sales have been eliminated from the net sales data:
(Dollars in millions) |  | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 46.4 |  |  | $ | 1.8 |  |  | $ | 5.4 |  |  | $ | 53.6 |
Net sales - recognized at a point in time |  | 75.7 |  |  | 83.9 |  |  | 0.2 |  |  | 159.8 |
Total net sales |  | $ | 122.1 |  |  | $ | 85.7 |  |  | $ | 5.6 |  |  | $ | 213.4 |
Operating income |  | $ | 4.4 |  |  | $ | 5.3 |  |  | $ | 2.0 |  |  | $ | 11.7 |
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 62.4 |  |  | $ | 9.0 |  |  | $ | 3.9 |  |  | $ | 75.3 |
Net sales - recognized at a point in time |  | 73.5 |  |  | 93.2 |  |  | 1.8 |  |  | 168.5 |
Total net sales |  | $ | 135.9 |  |  | $ | 102.2 |  |  | $ | 5.7 |  |  | $ | 243.8 |
Operating income |  | $ | (5.5) |  |  | $ | 3.2 |  |  | $ | 2.0 |  |  | $ | (0.3) |
Net sales by operating segment and by geographic area were as follows:
(Dollars in millions) |  | Net Sales(1)
Region/Country |  | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |
United States |  | $ | 20.4 |  |  | $ | 33.1 |  |  | $ | 1.0 |  |  | $ | 54.5 |
Other Americas |  | 0.6 |  |  | 3.9 |  |  | 0.1 |  |  | 4.6 |
Total Americas |  | 21.0 |  |  | 37.0 |  |  | 1.1 |  |  | 59.1 |
China |  | 34.3 |  |  | 20.4 |  |  | 1.6 |  |  | 56.3 |
Other APAC |  | 23.7 |  |  | 6.6 |  |  | 1.1 |  |  | 31.4 |
Total APAC |  | 58.0 |  |  | 27.0 |  |  | 2.7 |  |  | 87.7 |
Germany |  | 21.9 |  |  | 7.9 |  |  | 0.2 |  |  | 30.0 |
Other EMEA |  | 21.2 |  |  | 13.8 |  |  | 1.6 |  |  | 36.6 |
Total EMEA |  | 43.1 |  |  | 21.7 |  |  | 1.8 |  |  | 66.6 |
Total net sales |  | $ | 122.1 |  |  | $ | 85.7 |  |  | $ | 5.6 |  |  | $ | 213.4 |
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |
United States |  | $ | 21.5 |  |  | $ | 41.9 |  |  | $ | 1.1 |  |  | $ | 64.5 |
Other Americas |  | 2.4 |  |  | 9.2 |  |  | 0.1 |  |  | 11.7 |
Total Americas |  | 23.9 |  |  | 51.1 |  |  | 1.2 |  |  | 76.2 |
China |  | 38.4 |  |  | 20.2 |  |  | 2.4 |  |  | 61.0 |
Other APAC |  | 24.9 |  |  | 7.0 |  |  | 0.5 |  |  | 32.4 |
Total APAC |  | 63.3 |  |  | 27.2 |  |  | 2.9 |  |  | 93.4 |
Germany |  | 24.0 |  |  | 8.0 |  |  | 0.1 |  |  | 32.1 |
Other EMEA |  | 24.7 |  |  | 15.9 |  |  | 1.5 |  |  | 42.1 |
Total EMEA |  | 48.7 |  |  | 23.9 |  |  | 1.6 |  |  | 74.2 |
Total net sales |  | $ | 135.9 |  |  | $ | 102.2 |  |  | $ | 5.7 |  |  | $ | 243.8 |
(1)Net sales are allocated to countries based on the location of the customer. The table above lists individual countries with 10% or more of net sales for the periods indicated. Contract assets by operating segment were as follows:
(Dollars in millions) | March 31, 2024 |  | December 31, 2023
Advanced Electronics Solutions | $ | 35.6 |  |  | $ | 41.4 |
Elastomeric Material Solutions | 0.7 |  |  | 0.4 |
Other | 4.0 |  |  | 3.4 |
Total contract assets | $ | 40.3 |  |  | $ | 45.2 |

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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 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: 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 3: 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 4: 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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