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Balance Sheet Items (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable

The “Accounts receivable, net” line item in the condensed consolidated statements of financial position consisted of the following:

(Dollars in millions)			September 30, 2025						December 31, 2024
Accounts receivable - trade			$	135.6					$	125.1
Allowance for credit losses			(1.4)						(1.5)
Accounts receivable - other			11.3						11.7
Total accounts receivable, net			$	145.5					$	135.3

Schedule of Reportable Segment Information

Our contract assets by operating segment as of September 30, 2025 and December 31, 2024 were as follows:

(Dollars in millions)			September 30, 2025						December 31, 2024
Advanced Electronics Solutions			$	22.4					$	18.9
Elastomeric Material Solutions			0.2						0.7
Other			4.1						4.1
Total contract assets			$	26.7					$	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 September 30, 2025
Net sales - recognized over time						$	47.7					$	2.2					$	3.8					$	53.7
Net sales - recognized at a point in time						67.0						95.0						0.3						162.3
Total net sales						$	114.7					$	97.2					$	4.1					$	216.0
Cost of sales						$	78.6					$	62.5					$	2.6					$	143.7
Gross margin						$	36.1					$	34.7					$	1.5					$	72.3
Inventories, net						$	85.7					$	55.5					$	1.7					$	142.9
Depreciation expense						$	4.4					$	2.9					$	0.2					$	7.5
Three Months Ended September 30, 2024
Net sales - recognized over time						$	37.8					$	1.0					$	3.8					$	42.6
Net sales - recognized at a point in time						74.4						93.2						0.1						167.7
Total net sales						$	112.2					$	94.2					$	3.9					$	210.3
Cost of sales						$	78.1					$	55.4					$	2.7					$	136.2
Gross margin						$	34.1					$	38.8					$	1.2					$	74.1
Inventories, net						$	86.5					$	66.4					$	1.5					$	154.4
Depreciation expense						$	4.4					$	2.3					$	0.2					$	6.9
Nine Months Ended September 30, 2025
Net sales - recognized over time						$	121.5					$	6.7					$	11.2					$	139.4
Net sales - recognized at a point in time						206.4						262.5						1.0						469.9
Total net sales						$	327.9					$	269.2					$	12.2					$	609.3
Cost of sales						$	231.8					$	176.3					$	7.9					$	416.0
Gross margin						$	96.1					$	92.9					$	4.3					$	193.3
Inventories, net						$	85.7					$	55.5					$	1.7					$	142.9
Depreciation expense						$	13.0					$	8.5					$	0.6					$	22.1
Nine Months Ended September 30, 2024
Net sales - recognized over time						$	130.2					$	4.3					$	13.1					$	147.6
Net sales - recognized at a point in time						219.6						270.3						0.4						490.3
Total net sales						$	349.8					$	274.6					$	13.5					$	637.9
Cost of sales						$	245.0					$	168.8					$	8.7					$	422.5
Gross margin						$	104.8					$	105.8					$	4.8					$	215.4
Inventories, net						$	86.5					$	66.4					$	1.5					$	154.4
Depreciation expense						$	13.2					$	6.4					$	0.6					$	20.2

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 September 30, 2025
United States						$	22.4					$	38.0					$	0.8					$	61.2
Other Americas						0.5						3.7						0.1						4.3
Total Americas						22.9						41.7						0.9						65.5
China						38.0						29.3						1.4						68.7
Other APAC						11.0						8.7						0.3						20.0
Total APAC						49.0						38.0						1.7						88.7
Germany						14.3						5.4						0.1						19.8
Other EMEA						28.5						12.1						1.4						42.0
Total EMEA						42.8						17.5						1.5						61.8
Total net sales						$	114.7					$	97.2					$	4.1					$	216.0
Three Months Ended September 30, 2024
United States						$	19.2					$	32.8					$	0.9					$	52.9
Other Americas						0.3						4.1						—						4.4
Total Americas						19.5						36.9						0.9						57.3
China						32.0						29.9						1.0						62.9
Other APAC						27.8						8.3						0.5						36.6
Total APAC						59.8						38.2						1.5						99.5
Germany						18.2						6.5						0.1						24.8
Other EMEA						14.7						12.6						1.4						28.7
Total EMEA						32.9						19.1						1.5						53.5
Total net sales						$	112.2					$	94.2					$	3.9					$	210.3

(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
Nine Months Ended September 30, 2025
United States						$	67.4					$	105.6					$	2.5					$	175.5
Other Americas						1.7						9.4						0.1						11.2
Total Americas						69.1						115.0						2.6						186.7
China						105.5						75.1						3.7						184.3
Other APAC						37.2						24.4						1.5						63.1
Total APAC						142.7						99.5						5.2						247.4
Germany						39.3						16.9						0.5						56.7
Other EMEA						76.8						37.8						3.9						118.5
Total EMEA						116.1						54.7						4.4						175.2
Total net sales						$	327.9					$	269.2					$	12.2					$	609.3
Nine Months Ended September 30, 2024
United States						$	57.4					$	103.3					$	2.9					$	163.6
Other Americas						3.6						11.5						0.3						15.4
Total Americas						61.0						114.8						3.2						179.0
China						105.3						75.7						3.6						184.6
Other APAC						78.4						23.0						2.1						103.5
Total APAC						183.7						98.7						5.7						288.1
Germany						56.8						21.3						0.4						78.5
Other EMEA						48.3						39.8						4.2						92.3
Total EMEA						105.1						61.1						4.6						170.8
Total net sales						$	349.8					$	274.6					$	13.5					$	637.9

(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.

Schedule of Inventories

The “Inventories, net” line item in the condensed consolidated statements of financial position consisted of the following:

(Dollars in millions)			September 30, 2025						December 31, 2024
Raw materials			$	66.1					$	62.7
Work-in-process			44.9						41.7
Finished goods			31.9						37.9
Total inventories			$	142.9					$	142.3

Schedule of Accounts Payable

The “Accounts payable” line item in the condensed consolidated statements of financial position consisted of the following:

(Dollars in millions)			September 30, 2025						December 31, 2024
Accounts payable - trade			$	47.5					$	45.6
Accounts payable - other			2.2						2.5
Total accounts payable			$	49.7					$	48.1

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