XML 48 R38.htm IDEA: XBRL DOCUMENT
v3.25.2

Operating Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | Our contract assets by operating segment as of June 30, 2025 and December 31, 2024 were as follows:
(Dollars in millions) | June 30, 2025 |  | December 31, 2024
Advanced Electronics Solutions | $ | 20.9 |  |  | $ | 18.9 |
Elastomeric Material Solutions | 0.3 |  |  | 0.7 |
Other | 4.2 |  |  | 4.1 |
Total contract assets | $ | 25.4 |  |  | $ | 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 June 30, 2025 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 34.9 |  |  | $ | 2.4 |  |  | $ | 3.9 |  |  | $ | 41.2 |
Net sales - recognized at a point in time |  | 74.1 |  |  | 87.0 |  |  | 0.5 |  |  | 161.6 |
Total net sales |  | $ | 109.0 |  |  | $ | 89.4 |  |  | $ | 4.4 |  |  | $ | 202.8 |
Cost of sales |  | $ | 78.1 |  |  | $ | 57.9 |  |  | $ | 2.8 |  |  | $ | 138.8 |
Gross margin |  | $ | 30.9 |  |  | $ | 31.5 |  |  | $ | 1.6 |  |  | $ | 64.0 |
Inventories, net |  | $ | 85.5 |  |  | $ | 64.1 |  |  | $ | 1.6 |  |  | $ | 151.2 |
Depreciation expense |  | $ | 4.4 |  |  | $ | 2.8 |  |  | $ | 0.2 |  |  | $ | 7.4 |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 46.0 |  |  | $ | 1.5 |  |  | $ | 3.9 |  |  | $ | 51.4 |
Net sales - recognized at a point in time |  | 69.5 |  |  | 93.2 |  |  | 0.1 |  |  | 162.8 |
Total net sales |  | $ | 115.5 |  |  | $ | 94.7 |  |  | $ | 4.0 |  |  | $ | 214.2 |
Cost of sales |  | $ | 79.5 |  |  | $ | 59.0 |  |  | $ | 2.6 |  |  | $ | 141.1 |
Gross margin |  | $ | 36.0 |  |  | $ | 35.7 |  |  | $ | 1.4 |  |  | $ | 73.1 |
Inventories, net |  | $ | 85.2 |  |  | $ | 64.0 |  |  | $ | 1.6 |  |  | $ | 150.8 |
Depreciation expense |  | $ | 4.4 |  |  | $ | 2.0 |  |  | $ | 0.2 |  |  | $ | 6.6 |
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 73.8 |  |  | $ | 4.5 |  |  | $ | 7.4 |  |  | $ | 85.7 |
Net sales - recognized at a point in time |  | 139.4 |  |  | 167.5 |  |  | 0.7 |  |  | 307.6 |
Total net sales |  | $ | 213.2 |  |  | $ | 172.0 |  |  | $ | 8.1 |  |  | $ | 393.3 |
Cost of sales |  | $ | 153.2 |  |  | $ | 113.8 |  |  | $ | 5.3 |  |  | $ | 272.3 |
Gross margin |  | $ | 60.0 |  |  | $ | 58.2 |  |  | $ | 2.8 |  |  | $ | 121.0 |
Inventories, net |  | $ | 85.5 |  |  | $ | 64.1 |  |  | $ | 1.6 |  |  | $ | 151.2 |
Depreciation expense |  | $ | 8.6 |  |  | $ | 5.6 |  |  | $ | 0.4 |  |  | $ | 14.6 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 92.4 |  |  | $ | 3.3 |  |  | $ | 9.3 |  |  | $ | 105.0 |
Net sales - recognized at a point in time |  | 145.2 |  |  | 177.1 |  |  | 0.3 |  |  | 322.6 |
Total net sales |  | $ | 237.6 |  |  | $ | 180.4 |  |  | $ | 9.6 |  |  | $ | 427.6 |
Cost of sales |  | $ | 166.9 |  |  | $ | 113.4 |  |  | $ | 6.0 |  |  | $ | 286.3 |
Gross margin |  | $ | 70.7 |  |  | $ | 67.0 |  |  | $ | 3.6 |  |  | $ | 141.3 |
Inventories, net |  | $ | 85.2 |  |  | $ | 64.0 |  |  | $ | 1.6 |  |  | $ | 150.8 |
Depreciation expense |  | $ | 8.8 |  |  | $ | 4.1 |  |  | $ | 0.4 |  |  | $ | 13.3 |
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 June 30, 2025 |  |  |  |  |  |  |  |
United States |  | $ | 22.9 |  |  | $ | 33.9 |  |  | $ | 0.8 |  |  | $ | 57.6 |
Other Americas |  | 0.4 |  |  | 2.7 |  |  | — |  |  | 3.1 |
Total Americas |  | 23.3 |  |  | 36.6 |  |  | 0.8 |  |  | 60.7 |
China |  | 33.9 |  |  | 25.9 |  |  | 1.3 |  |  | 61.1 |
Other APAC |  | 13.5 |  |  | 7.7 |  |  | 0.6 |  |  | 21.8 |
Total APAC |  | 47.4 |  |  | 33.6 |  |  | 1.9 |  |  | 82.9 |
Germany |  | 13.4 |  |  | 5.9 |  |  | 0.2 |  |  | 19.5 |
Other EMEA |  | 24.9 |  |  | 13.3 |  |  | 1.5 |  |  | 39.7 |
Total EMEA |  | 38.3 |  |  | 19.2 |  |  | 1.7 |  |  | 59.2 |
Total net sales |  | $ | 109.0 |  |  | $ | 89.4 |  |  | $ | 4.4 |  |  | $ | 202.8 |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |
United States |  | $ | 17.8 |  |  | $ | 37.4 |  |  | $ | 1.0 |  |  | $ | 56.2 |
Other Americas |  | 2.7 |  |  | 3.5 |  |  | 0.2 |  |  | 6.4 |
Total Americas |  | 20.5 |  |  | 40.9 |  |  | 1.2 |  |  | 62.6 |
China |  | 39.0 |  |  | 25.4 |  |  | 1.0 |  |  | 65.4 |
Other APAC |  | 26.9 |  |  | 8.1 |  |  | 0.5 |  |  | 35.5 |
Total APAC |  | 65.9 |  |  | 33.5 |  |  | 1.5 |  |  | 100.9 |
Germany |  | 16.7 |  |  | 6.9 |  |  | 0.1 |  |  | 23.7 |
Other EMEA |  | 12.4 |  |  | 13.4 |  |  | 1.2 |  |  | 27.0 |
Total EMEA |  | 29.1 |  |  | 20.3 |  |  | 1.3 |  |  | 50.7 |
Total net sales |  | $ | 115.5 |  |  | $ | 94.7 |  |  | $ | 4.0 |  |  | $ | 214.2 |
(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.
(Dollars in millions) |  | Net Sales(1)
Region/Country |  | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |
United States |  | $ | 45.0 |  |  | $ | 67.6 |  |  | $ | 1.7 |  |  | $ | 114.3 |
Other Americas |  | 1.2 |  |  | 5.7 |  |  | — |  |  | 6.9 |
Total Americas |  | 46.2 |  |  | 73.3 |  |  | 1.7 |  |  | 121.2 |
China |  | 67.5 |  |  | 45.8 |  |  | 2.3 |  |  | 115.6 |
Other APAC |  | 26.2 |  |  | 15.7 |  |  | 1.2 |  |  | 43.1 |
Total APAC |  | 93.7 |  |  | 61.5 |  |  | 3.5 |  |  | 158.7 |
Germany |  | 25.0 |  |  | 11.5 |  |  | 0.4 |  |  | 36.9 |
Other EMEA |  | 48.3 |  |  | 25.7 |  |  | 2.5 |  |  | 76.5 |
Total EMEA |  | 73.3 |  |  | 37.2 |  |  | 2.9 |  |  | 113.4 |
Total net sales |  | $ | 213.2 |  |  | $ | 172.0 |  |  | $ | 8.1 |  |  | $ | 393.3 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
United States |  | $ | 38.2 |  |  | $ | 70.5 |  |  | $ | 2.0 |  |  | $ | 110.7 |
Other Americas |  | 3.3 |  |  | 7.4 |  |  | 0.3 |  |  | 11.0 |
Total Americas |  | 41.5 |  |  | 77.9 |  |  | 2.3 |  |  | 121.7 |
China |  | 73.3 |  |  | 45.8 |  |  | 2.6 |  |  | 121.7 |
Other APAC |  | 50.6 |  |  | 14.7 |  |  | 1.6 |  |  | 66.9 |
Total APAC |  | 123.9 |  |  | 60.5 |  |  | 4.2 |  |  | 188.6 |
Germany |  | 38.6 |  |  | 14.8 |  |  | 0.3 |  |  | 53.7 |
Other EMEA |  | 33.6 |  |  | 27.2 |  |  | 2.8 |  |  | 63.6 |
Total EMEA |  | 72.2 |  |  | 42.0 |  |  | 3.1 |  |  | 117.3 |
Total net sales |  | $ | 237.6 |  |  | $ | 180.4 |  |  | $ | 9.6 |  |  | $ | 427.6 |
(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.

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration