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v3.25.1

Operating Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | Our contract assets by operating segment as of March 31, 2025 and December 31, 2024 were as follows:
(Dollars in millions) | March 31, 2025 |  | December 31, 2024
Advanced Electronics Solutions | $ | 20.0 |  |  | $ | 18.9 |
Elastomeric Material Solutions | 1.1 |  |  | 0.7 |
Other | 3.9 |  |  | 4.1 |
Total contract assets | $ | 25.0 |  |  | $ | 23.7 |
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, 2025 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 38.9 |  |  | $ | 2.1 |  |  | $ | 3.5 |  |  | $ | 44.5 |
Net sales - recognized at a point in time |  | 65.3 |  |  | 80.5 |  |  | 0.2 |  |  | 146.0 |
Total net sales |  | $ | 104.2 |  |  | $ | 82.6 |  |  | $ | 3.7 |  |  | $ | 190.5 |
Cost of sales |  | $ | 75.1 |  |  | $ | 55.9 |  |  | $ | 2.5 |  |  | $ | 133.5 |
Gross margin |  | $ | 29.1 |  |  | $ | 26.7 |  |  | $ | 1.2 |  |  | $ | 57.0 |
Inventories, net |  | $ | 80.5 |  |  | $ | 60.7 |  |  | $ | 1.8 |  |  | $ | 143.0 |
Depreciation expense |  | $ | 4.2 |  |  | $ | 2.8 |  |  | $ | 0.2 |  |  | $ | 7.2 |
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 |
Cost of sales |  | $ | 87.4 |  |  | $ | 54.4 |  |  | $ | 3.4 |  |  | $ | 145.2 |
Gross margin |  | $ | 34.7 |  |  | $ | 31.3 |  |  | $ | 2.2 |  |  | $ | 68.2 |
Inventories, net |  | $ | 84.3 |  |  | $ | 65.1 |  |  | $ | 1.5 |  |  | $ | 150.9 |
Depreciation expense |  | $ | 4.4 |  |  | $ | 2.1 |  |  | $ | 0.2 |  |  | $ | 6.7 |
The following table presents net sales by our operating segment operations by geographic area for the periods indicated:
(Dollars in millions) |  | Net Sales(1)
Region/Country |  | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |
United States |  | $ | 22.1 |  |  | $ | 33.7 |  |  | $ | 0.9 |  |  | $ | 56.7 |
Other Americas |  | 0.8 |  |  | 3.0 |  |  | — |  |  | 3.8 |
Total Americas |  | 22.9 |  |  | 36.7 |  |  | 0.9 |  |  | 60.5 |
China |  | 33.6 |  |  | 19.9 |  |  | 1.0 |  |  | 54.5 |
Other APAC |  | 12.7 |  |  | 8.0 |  |  | 0.6 |  |  | 21.3 |
Total APAC |  | 46.3 |  |  | 27.9 |  |  | 1.6 |  |  | 75.8 |
Germany |  | 11.6 |  |  | 5.6 |  |  | 0.2 |  |  | 17.4 |
Other EMEA |  | 23.4 |  |  | 12.4 |  |  | 1.0 |  |  | 36.8 |
Total EMEA |  | 35.0 |  |  | 18.0 |  |  | 1.2 |  |  | 54.2 |
Total net sales |  | $ | 104.2 |  |  | $ | 82.6 |  |  | $ | 3.7 |  |  | $ | 190.5 |
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 |
(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.

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