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Financial Information by Segment (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Operating Results

Segment operating results for the three months ended March 31, 2024 and 2023 are as follows:

			Rubber						Specialty						Corporate						Total
			(In millions)
2024
Net sales from external customers			$	332.0					$	170.9					$	—					$	502.9
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			16.7						12.2						—						28.9
Equity in earnings of affiliated companies, net of tax			0.1						—						—						0.1
Interest and other financial expense, net															(12.7)						(12.7)
Adjusted EBITDA			57.4						27.9						—						85.3
2023
Net sales from external customers			$	338.7					$	162.0					$	—					$	500.7
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			15.8						9.9						—						25.7
Equity in earnings of affiliated companies, net of tax			0.1						—						—						0.1
Interest and other financial expense, net															(15.2)						(15.2)
Reclassification of actuarial gain from AOCI															2.2						2.2
Adjusted EBITDA			63.8						37.3						—						101.1

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 March 31,
			2024						2023
			(In millions)
Income before earnings in affiliated companies and income taxes			$	40.1					$	60.5
Corporate charges			3.5						1.8
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment			28.9						25.7
Equity in earnings of affiliated companies, net of tax			0.1						0.1
Interest and other financial expense, net			12.7						15.2
Reclassification of actuarial gain from AOCI			—						(2.2)
Adjusted EBITDA			$	85.3					$	101.1

Corporate charges include the following:

			Three Months Ended March 31,
			2024						2023
			(In millions)
Long term incentive plan			$	3.5					$	2.1
Other non-operating			—						(0.3)
Corporate Charges			$	3.5					$	1.8

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- 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.

+ Details

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