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Segment information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents segment revenues, segment cost of sales or services, segment gross margin, segment gross margin percentage and segment adjusted gross margin for each of the Company’s reportable segments for the three months ended March 31, 2024 and 2023:

			Three Months Ended March 31,
			2024						2023
Revenues:
Commercial Products			$	118.5					$	106.2
MCM Products			155.4						37.2
Services			18.5						14.4
Segment revenues			292.4						157.8
Contracts and grants revenue			8.0						6.5
Total revenues			$	300.4					$	164.3
Cost of sales or services:
Cost of Commercial Products			$	52.1					$	45.8
Cost of MCM Products			62.2						55.4
Cost of Services			30.3						51.7
Total cost of sales or services			$	144.6					$	152.9
Gross margin
Commercial Products			$	66.4					$	60.4
MCM Products			93.2						(18.2)
Services			(11.8)						(37.3)
Total segment gross margin (1)			$	147.8					$	4.9
Gross margin %
Commercial Products			56		%				57		%
MCM Products			60		%				(49)		%
Services			(64)		%				(259)		%
Total Segment			51		%				3		%
Segment adjusted gross margin
Commercial Products			$	66.4					$	60.4
MCM Products			93.6						(15.9)
Services			(12.0)						(37.3)
Total segment adjusted gross margin			$	148.0					$	7.2
(1) Segment revenues less total cost of sales or services.

The following table provides a reconciliation of the Company's total segment adjusted gross margin to the Condensed Consolidated Statement of Operations:

			Three Months Ended March 31,
			2024						2023
Total segment adjusted gross margin			$	148.0					$	7.2
Reconciling items:
Contracts and grants revenue			$	8.0					$	6.5
Segment restructuring costs			0.3						(2.0)
Changes in fair value of contingent consideration			(0.5)						(0.3)
Research and development			(15.1)						(40.7)
Selling, general and administrative			(84.7)						(101.3)
Amortization of intangible assets			(16.2)						(17.0)
Interest expense			(24.3)						(17.9)
Other, net			(3.4)						4.9
Income (loss) before income taxes			$	12.1					$	(160.6)

Schedule of Segment Reporting Information, by Segment

The following table includes depreciation expense for each segment:

			Three Months Ended March 31,
			2024						2023
Depreciation:
Commercial Products			$	—					$	0.3
MCM Products			5.6						7.7
Services			2.6						7.9
Other			3.5						1.7
Total			$	11.7					$	17.6

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

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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- 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

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