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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

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