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Financial Information by Segment (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Operating Results

Segment operating results for the three months ended September 30, 2023 and 2022 are as follows:

			Rubber						Specialty						Corporate						Total
			(In millions)
2023
Net sales from external customers			$	315.8					$	150.4					$	—					$	466.2
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			17.3						10.6						—						27.9
Equity in earnings of affiliated companies, net of tax			0.1						—						—						0.1
Interest and other financial expense, net															(12.9)						(12.9)
Reclassification of actuarial gain from AOCI															2.2						2.2
Adjusted EBITDA			51.2						26.1						—						77.3
2022
Net sales from external customers			$	373.5					$	169.6					$	—					$	543.1
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			15.6						9.6						—						25.2
Equity in earnings of affiliated companies, net of tax			0.1						—						—						0.1
Interest and other financial expense, net															(10.2)						(10.2)
Adjusted EBITDA			49.4						31.1						—						80.5

Segment operating results for the nine months ended September 30, 2023 and 2022:

			Rubber						Specialty						Corporate						Total
			(In millions)
2023
Net sales from external customers			$	963.8					$	461.9					$	—					$	1,425.7
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			51.0						29.8						—						80.8
Equity in earnings of affiliated companies, net of tax			0.4						—						—						0.4
Interest and other financial expense, net															(41.6)						(41.6)
Reclassification of actuarial gain from AOCI															6.7						6.7
Adjusted EBITDA			172.4						93.3						—						265.7
2022
Net sales from external customers			$	1,039.7					$	529.1					$	—					$	1,568.8
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			49.1						30.8						—						79.9
Excluding equity in earnings of affiliated companies, net of tax			0.3						—						—						0.3
Interest and other financial expense, net															(29.1)						(29.1)
Adjusted EBITDA			128.1						119.0						—						247.1

A reconciliation of Income before earnings in affiliated companies and income taxes to Adjusted EBITDA for each of the periods presented is as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(In millions)
Income before earnings in affiliated companies and income taxes			$	35.0					$	43.4					$	143.2					$	132.0
Corporate charges			3.6						1.6						6.4						5.8
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			27.9						25.2						80.8						79.9
Equity in earnings of affiliated companies, net of tax			0.1						0.1						0.4						0.3
Interest and other financial expense, net			12.9						10.2						41.6						29.1
Reclassification of actuarial gain from AOCI			(2.2)						—						(6.7)						—
Adjusted EBITDA			$	77.3					$	80.5					$	265.7					$	247.1

Corporate charges include the following:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(In millions)
Long term incentive plan			$	3.6					$	1.9					$	8.3					$	5.0
Other non-operating			—						(0.3)						(1.9)						0.8
Corporate Charges			$	3.6					$	1.6					$	6.4					$	5.8

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

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X

- References

No definition available.

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