XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.26.1

Balance Sheet Items (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2026
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) | March 31, 2026 |  | December 31, 2025
Accounts receivable - trade | $ | 131.6 |  |  | $ | 121.2 |
Allowance for credit losses | (1.2) |  |  | (1.3) |
Accounts receivable - other | 11.7 |  |  | 10.7 |
Total accounts receivable, net | $ | 142.1 |  |  | $ | 130.6 |
Schedule of Reportable Segment Information | Our contract assets by operating segment as of March 31, 2026 and December 31, 2025 were as follows:
(Dollars in millions) | March 31, 2026 |  | December 31, 2025
Advanced Electronics Solutions | $ | 22.2 |  |  | $ | 24.0 |
Elastomeric Material Solutions | 0.1 |  |  | 0.1 |
Other | 3.6 |  |  | 3.8 |
Total contract assets | $ | 25.9 |  |  | $ | 27.9 |
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, 2026 |  |  |  |  |  |  |  |
Net sales - recognized over time |  | $ | 39.4 |  |  | $ | 1.5 |  |  | $ | 3.9 |  |  | $ | 44.8 |
Net sales - recognized at a point in time |  | 68.3 |  |  | 86.9 |  |  | 0.5 |  |  | 155.7 |
Total net sales |  | $ | 107.7 |  |  | $ | 88.4 |  |  | $ | 4.4 |  |  | $ | 200.5 |
Cost of sales |  | $ | 76.3 |  |  | $ | 57.1 |  |  | $ | 2.5 |  |  | $ | 135.9 |
Gross margin |  | $ | 31.4 |  |  | $ | 31.3 |  |  | $ | 1.9 |  |  | $ | 64.6 |
Inventories, net |  | $ | 78.7 |  |  | $ | 47.2 |  |  | $ | 1.6 |  |  | $ | 127.5 |
Depreciation expense |  | $ | 5.4 |  |  | $ | 2.7 |  |  | $ | 0.2 |  |  | $ | 8.3 |
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 |
Segment Net Sales by Geographic Area The following table presents net sales by our 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, 2026 |  |  |  |  |  |  |  |
United States |  | $ | 18.7 |  |  | $ | 36.2 |  |  | $ | 0.9 |  |  | $ | 55.8 |
Other Americas |  | 1.1 |  |  | 3.1 |  |  | 0.1 |  |  | 4.3 |
Total Americas |  | 19.8 |  |  | 39.3 |  |  | 1.0 |  |  | 60.1 |
China |  | 39.6 |  |  | 20.7 |  |  | 1.4 |  |  | 61.7 |
Other APAC |  | 14.0 |  |  | 7.7 |  |  | 0.5 |  |  | 22.2 |
Total APAC |  | 53.6 |  |  | 28.4 |  |  | 1.9 |  |  | 83.9 |
Germany |  | 13.4 |  |  | 6.4 |  |  | 0.2 |  |  | 20.0 |
Other EMEA |  | 20.9 |  |  | 14.3 |  |  | 1.3 |  |  | 36.5 |
Total EMEA |  | 34.3 |  |  | 20.7 |  |  | 1.5 |  |  | 56.5 |
Total net sales |  | $ | 107.7 |  |  | $ | 88.4 |  |  | $ | 4.4 |  |  | $ | 200.5 |
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 |
(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) | March 31, 2026 |  | December 31, 2025
Raw materials | $ | 54.9 |  |  | $ | 51.9 |
Work-in-process | 42.7 |  |  | 42.3 |
Finished goods | 29.9 |  |  | 30.8 |
Total inventories | $ | 127.5 |  |  | $ | 125.0 |
Schedule of Accounts Payable | The “Accounts payable” line item in the condensed consolidated statements of financial position consisted of the following:
(Dollars in millions) | March 31, 2026 |  | December 31, 2025
Accounts payable - trade | $ | 52.0 |  |  | $ | 41.3 |
Accounts payable - other | 0.8 |  |  | 1.6 |
Total accounts payable | $ | 52.8 |  |  | $ | 42.9 |

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

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483489/210-10-50-1 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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