XML 42 R29.htm IDEA: XBRL DOCUMENT
v3.26.1

Operations by Industry Segment and Geographic Area (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Asset information for the Company's reportable segments is set forth below:
| March 31, 2026 |  | December 31, 2025
(in millions) | Infrastructure Solutions |  | Materials Solutions |  | Total |  | Infrastructure Solutions |  | Materials Solutions |  | Total
Reportable segment assets | $ | 1,320.9 |  |  | $ | 1,163.3 |  |  | $ | 2,484.2 |  |  | $ | 1,210.4 |  |  | $ | 1,147.7 |  |  | $ | 2,358.1 |
Revenue, significant expense and capital expenditure information for the Company's reportable segments is set forth below:
| Three Months Ended March 31, 2026 |  | Three Months Ended March 31, 2025
(in millions) | Infrastructure Solutions |  | Materials Solutions |  | Total |  | Infrastructure Solutions |  | Materials Solutions |  | Total
Reportable segment revenues: |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 237.0 |  |  | $ | 159.3 |  |  | $ | 396.3 |  |  | $ | 236.0 |  |  | $ | 93.4 |  |  | $ | 329.4 |
Intersegment revenues | 8.2 |  |  | 1.3 |  |  | 9.5 |  |  | 8.8 |  |  | 2.1 |  |  | 10.9 |
Total revenues - reportable segments | $ | 245.2 |  |  | $ | 160.6 |  |  | $ | 405.8 |  |  | $ | 244.8 |  |  | $ | 95.5 |  |  | $ | 340.3 |
Significant reportable segment expenses: |  |  |  |  |  |  |  |  |  |  |
Manufacturing operation costs: |  |  |  |  |  |  |  |  |  |  |
Equipment | $ | 98.4 |  |  | $ | 70.1 |  |  | $ | 168.5 |  |  | $ | 97.6 |  |  | $ | 40.9 |  |  | $ | 138.5 |
Parts | 38.7 |  |  | 26.9 |  |  | 65.6 |  |  | 36.3 |  |  | 19.1 |  |  | 55.4 |
Other | 30.0 |  |  | 27.1 |  |  | 57.1 |  |  | 24.5 |  |  | 10.6 |  |  | 35.1 |
General and administrative | 13.3 |  |  | 13.7 |  |  | 27.0 |  |  | 14.9 |  |  | 7.8 |  |  | 22.7 |
Sales and marketing | 15.9 |  |  | 10.6 |  |  | 26.5 |  |  | 11.4 |  |  | 6.3 |  |  | 17.7 |
Quality costs (1) | 4.8 |  |  | 0.7 |  |  | 5.5 |  |  | 6.6 |  |  | 2.5 |  |  | 9.1 |
Research and development | 4.0 |  |  | 2.5 |  |  | 6.5 |  |  | 4.4 |  |  | 1.9 |  |  | 6.3 |
Inventory period costs (2) | 5.4 |  |  | 0.6 |  |  | 6.0 |  |  | 6.3 |  |  | 1.6 |  |  | 7.9 |
Other segment items (3) | (0.1) |  |  | (0.5) |  |  | (0.6) |  |  | (0.1) |  |  | (0.4) |  |  | (0.5) |
Reportable Segment Operating Adjusted EBITDA | $ | 34.8 |  |  | $ | 8.9 |  |  | $ | 43.7 |  |  | $ | 42.9 |  |  | $ | 5.2 |  |  | $ | 48.1 |
Reportable segment capital expenditures | $ | 4.9 |  |  | $ | 2.9 |  |  | $ | 7.8 |  |  | $ | 2.9 |  |  | $ | 0.7 |  |  | $ | 3.6 |
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss, gains and losses on the sale of property and equipment and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The reconciliation of Reportable Segment Operating Adjusted EBITDA to total "Income before income taxes" is set forth below:
| Three Months Ended March 31, |  |
(in millions) | 2026 |  | 2025 |  |  |  |
Segment Operating Adjusted EBITDA - reportable segments | $ | 43.7 |  |  | $ | 48.1 |  |  |  |  |
Corporate and Other expenses | (13.4) |  |  | (12.9) |  |  |  |  |
Transformation program | (3.8) |  |  | (6.9) |  |  |  |  |
Acquisition and integration costs | (2.9) |  |  | (0.8) |  |  |  |  |
Interest expense, net | (6.6) |  |  | (1.4) |  |  |  |  |
Depreciation and amortization | (14.2) |  |  | (6.4) |  |  |  |  |
Income before income taxes | $ | 2.8 |  |  | $ | 19.7 |  |  |  |  |
Schedule of Sales into Major Geographic Regions | "Net sales" into major geographic regions, attributable to the shipping location or the location where service was performed, were as follows:
| Three Months Ended March 31, |  |
(in millions) | 2026 |  | 2025 |  |  |  |
United States | $ | 319.0 |  |  | $ | 273.8 |  |  |  |  |
Canada | 24.0 |  |  | 15.4 |  |  |  |  |
Australia | 12.5 |  |  | 4.7 |  |  |  |  |
South America (excluding Brazil) | 9.3 |  |  | 3.2 |  |  |  |  |
Europe | 8.0 |  |  | 7.4 |  |  |  |  |
Brazil | 7.3 |  |  | 5.7 |  |  |  |  |
Africa | 7.1 |  |  | 8.2 |  |  |  |  |
Asia | 5.7 |  |  | 6.8 |  |  |  |  |
Mexico | 2.0 |  |  | 3.2 |  |  |  |  |
Central America (excluding Mexico) | 1.0 |  |  | 0.4 |  |  |  |  |
Other | 0.4 |  |  | 0.6 |  |  |  |  |
Total foreign | 77.3 |  |  | 55.6 |  |  |  |  |
Total net sales | $ | 396.3 |  |  | $ | 329.4 |  |  |  |  |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
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

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