XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 498.2 $ 551.5 $ 1,573.7 $ 1,112.5
Cost of products sold 411.5 455.4 1,303.8 893.9
Gross profit 86.7 96.1 269.9 218.6
Selling expense 20.5 19.1 60.6 41.1
Research and development expense 5.4 5.9 16.6 12.7
General expense 63.4 100.9 185.8 189.8
Total nonmanufacturing expenses 89.3 125.9 263.0 243.6
Goodwill impairment expense 401.0 0.0 401.0 0.0
Restructuring and other impairment expense 16.3 1.8 17.6 17.3
Operating loss (419.9) (31.6) (411.7) (42.3)
Interest expense 16.8 14.9 48.8 43.7
Other income (expense), net (0.3) 1.4 (3.6) 5.2
Loss from continuing operations before income taxes (437.0) (45.1) (464.1) (80.8)
Income tax expense (benefit), net 27.3 (11.1) 30.0 (14.4)
Net loss from continuing operations (464.3) (34.0) (494.1) (66.4)
Income from discontinued operations, net of tax 9.3 11.5 26.9 57.3
Net loss (455.0) (22.5) (467.2) (9.1)
Dividends to participating securities (0.5) (0.2) (0.7) (0.7)
Net loss attributable to Common Stockholders, basic (455.5) (22.7) (467.9) (9.8)
Net loss attributable to Common Stockholders, diluted $ (455.5) $ (22.7) $ (467.9) $ (9.8)
Net loss per share - basic:        
Loss per share from continuing operations (in dollars per share) $ (8.50) $ (0.65) $ (9.06) $ (1.74)
Income per share from discontinued operations (in dollars per share) 0.17 0.22 0.49 1.49
Basic (in dollars per share) (8.33) (0.43) (8.57) (0.25)
Net loss per share – diluted:        
Loss per share from continuing operations (in dollars per share) (8.50) (0.65) (9.06) (1.74)
Income per share from discontinued operations (in dollars per share) 0.17 0.22 0.49 1.49
Diluted (in dollars per share) $ (8.33) $ (0.43) $ (8.57) $ (0.25)
Weighted average shares outstanding:        
Basic (in shares) 54,659,100 52,593,900 54,600,100 38,415,900
Diluted (in shares) 54,659,100 52,593,900 54,600,100 38,415,900