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Supplemental Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Supplemental Income Statement Elements [Abstract] |
Schedule of Restructuring and Impairment Charges | The components of the “Restructuring and impairment charges” line item in the condensed consolidated statements of operations, were as follows:
| Three Months Ended |  | Six Months Ended
(Dollars in millions) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Restructuring charges |  |  |  |  |  |  |
Manufacturing footprint consolidation | $ | 3.6 |  |  | $ | 0.4 |  |  | $ | 7.6 |  |  | $ | 0.4 |
Global workforce reduction | 0.7 |  |  | — |  |  | 2.5 |  |  | — |
Facility consolidations | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.2 |
R&D facility exit | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Total restructuring charges | 4.3 |  |  | 1.4 |  |  | 10.2 |  |  | 1.5 |
Impairment charges |  |  |  |  |  |  |
Goodwill impairment | 67.3 |  |  | — |  |  | 67.3 |  |  | — |
Other intangible assets impairment | 4.5 |  |  | — |  |  | 4.5 |  |  | — |
Total impairment charges | 71.8 |  |  | — |  |  | 71.8 |  |  | — |
Total restructuring and impairment charges | $ | 76.1 |  |  | $ | 1.4 |  |  | $ | 82.0 |  |  | $ | 1.5 |
The following table summarizes the allocation of restructuring and impairment charges to our operating segments:
| Three Months Ended |  | Six Months Ended
(Dollars in millions) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Advanced Electronics Solutions |  |  |  |  |  |  |
Allocated restructuring charges | $ | 3.8 |  |  | $ | 1.0 |  |  | $ | 8.5 |  |  | $ | 1.1 |
Allocated impairment charges | 71.8 |  |  | — |  |  | 71.8 |  |  |
Elastomeric Material Solutions |  |  |  |  |  |  |
Allocated restructuring charges | 0.5 |  |  | 0.4 |  |  | 1.7 |  |  | 0.4 |
Allocated impairment charges | — |  |  | — |  |  | — |  |  | — |
Total restructuring and impairment charges | $ | 76.1 |  |  | $ | 1.4 |  |  | $ | 82.0 |  |  | $ | 1.5 |
Schedule of Severance Activity | Severance and related benefits activity related to the manufacturing footprint consolidation plan is presented in the table below for the six months ended June 30, 2025:
(Dollars in thousands) | Manufacturing Footprint Consolidation Restructuring Severance and Related Benefits
Balance as of December 31, 2024 | $ | 9.2 |
Provisions | 6.1 |
Payments | (3.9) |
Foreign currency translation adjustment | 1.5 |
Balance as of June 30, 2025 | $ | 12.9 |
Schedule of Other Nonoperating Income (Expense) | The components of the “Other income (expense), net” line item in the condensed consolidated statements of operations, were as follows:
| Three Months Ended |  | Six Months Ended
(Dollars in millions) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Foreign currency translation impacts | $ | (1.9) |  |  | $ | 0.3 |  |  | $ | (3.2) |  |  | $ | 0.8 |
Foreign currency derivative impacts | (0.2) |  |  | (0.3) |  |  | (0.4) |  |  | (0.4) |
Copper derivative impacts | (0.1) |  |  | 0.4 |  |  | 0.1 |  |  | 0.4 |
Other | — |  |  | (0.1) |  |  | (0.3) |  |  | (0.1) |
Total other income (expense), net | $ | (2.2) |  |  | $ | 0.3 |  |  | $ | (3.8) |  |  | $ | 0.7 |
Schedule of Components of Interest Income (Expense), Net | The components of “Interest income (expense), net” line item in the condensed consolidated statements of operations, were as follows:
| Three Months Ended |  | Six Months Ended
(Dollars in millions) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Interest on revolving credit facility | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.5) |
Line of credit fees | (0.3) |  |  | (0.3) |  |  | (0.6) |  |  | (0.6) |
Debt issuance amortization costs | (0.1) |  |  | (0.1) |  |  | (0.2) |  |  | (0.2) |
Interest income | 0.8 |  |  | 0.2 |  |  | 1.6 |  |  | 0.3 |
Other | — |  |  | — |  |  | (0.1) |  |  | — |
Total interest income (expense), net | $ | 0.4 |  |  | $ | (0.2) |  |  | $ | 0.7 |  |  | $ | (1.0) |

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