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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
 
Prior to the completion of the Merger, we operated in two reportable segments: Advanced Materials & Structures and Engineered Papers. Effective with the Merger, the Company reassessed its reportable segments. Management concluded that it had two operating product line segments that are also the reportable segments for financial reporting purposes: Advanced Technical Materials and Fiber-Based Solutions. ATM was comprised of the legacy SWM Advanced Materials & Structures segment and certain legacy Neenah segments allocated to ATM based on performance, market focus, technologies, and reporting structure. FBS was comprised of the legacy Neenah Fine Paper and Packaging segment and the legacy Engineered Papers segment. As such, there were no changes to the historical results of these segments. The merged Neenah segments were allocated to ATM and FBS based on performance, market focus, technologies, and reporting structure. Effective July 1, 2023, and as a result of our ongoing integration efforts, we identified a change in our operating segments to align with our end markets due to changes in segment level management and the related internal review of operating results. The accounting policies of the reportable segments are the same as those described in Note 2.Summary of Significant Accounting Policies.

The ATM reportable segment remains an aggregation of the Company's Industrials, Protective solutions, Filtration, Healthcare, and Release liners operating segments. ATM's end markets provide solutions that filter and purify air and liquids, supports adhesive and protective applications, advances healing and wellness, and solves some of material science’s most demanding performance needs across a number of categories. The FBS reportable segment leverages the company’s extensive natural fiber capabilities to provide specialty solutions for various end-uses, including sustainable packaging, imaging and communications, home and office, consumer goods, and other applications. As a result of the EP Divestiture, the EP business is presented as a discontinued operation and no longer reported in the FBS reportable segment. The FBS segment is now comprised of Packaging and specialty papers end markets and prior year results have been retrospectively revised to reflect such adjustments.

Information about Net Sales and Operating Profit

The Company primarily evaluates segment performance and allocates resources based on operating profit. General corporate expenses that do not directly support the operations of the business segments are unallocated expenses. Assets are managed on a total company basis and are therefore not disclosed at the segment level.

Net sales and operating profit by segments were (in millions):
Net Sales
Years Ended December 31,
202320222021
ATM$1,610.0 79.5 %$1,396.2 85.3 %$930.7 100.0 %
FBS416.0 20.5 %240.7 14.7 %— — %
Consolidated$2,026.0 100.0 %$1,636.9 100.0 %$930.7 100.0 %

Operating Profit (Loss)
Years Ended December 31,
202320222021
ATM$(281.5)68.0 %$98.8 (245.8)%$61.6 (380.2)%
FBS4.6 (1.1)%15.0 (37.3)%1.0 (6.2)%
Unallocated(137.0)33.1 %(154.0)383.1 %(78.8)486.4 %
Consolidated$(413.9)100.0 %$(40.2)100.0 %$(16.2)100.0 %
Capital spending and depreciation by segments were (in millions):
Capital SpendingDepreciation
Years Ended December 31,Years Ended December 31,
202320222021202320222021
ATM$52.1 $37.2 $19.4 $49.5 $38.3 $25.9 
FBS10.8 7.8 — 30.0 13.1 0.1 
Unallocated3.1 0.6 — 2.2 0.5 0.2 
Consolidated$66.0 $45.6 $19.4 $81.7 $51.9 $26.2 

Information about Geographic Areas

Long-lived assets by geographic area were as follows (in millions):
December 31,
20232022
U.S.$369.8 $386.1 
France32.2 32.1 
Germany174.7 163.7 
U.K.56.6 57.6 
Other foreign countries65.8 84.9 
Consolidated$699.1 $724.4