XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.21.1

Segmental Information | 3 Months Ended
--- | ---
Mar. 28, 2021
Segment Reporting [Abstract] |
Segmental Information | Segmental Information We classify our operations into two core business segments, Gas Cylinders and Elektron, based primarily on shared economic characteristics for the nature of the products and services; the nature of the production processes; the type or class of customer for their products and services; the methods used to distribute their products or provide their services; and the nature of the regulatory environment. The Company has four identified business units, which aggregate into the two reportable segments. Luxfer Gas Cylinders forms the Gas Cylinders segment, and Luxfer MEL Technologies, Luxfer Magtech and Luxfer Graphic Arts aggregate into the Elektron segment. The Superform business unit used to aggregate into the Gas Cylinders segment, but is now recognized as discontinued operations. A summary of the operations of the segments is provided below: Gas Cylinders segment Our Gas Cylinders segment manufactures and markets specialized products using composites and aluminum, including pressurized cylinders for use in various applications including self-contained breathing apparatus (SCBA) for firefighters, containment of oxygen and other medical gases for healthcare, alternative fuel vehicles, and general industrial. Elektron segment Our Elektron segment focuses on specialty materials based primarily on magnesium and zirconium, with key product lines including advanced lightweight magnesium alloys with a variety of uses across a variety of industries; magnesium powders for use in countermeasure flares, as well as heater meals; photoengraving plates for graphic arts; and high-performance zirconium-based materials and oxides used as catalysts and in the manufacture of advanced ceramics, fiber-optic fuel cells, and many other performance products. Other Other primarily represents unallocated corporate expense and includes non-service related defined benefit pension cost / credit. Management monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated by the chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments as the CEO, using adjusted EBITA(1) and adjusted EBITDA, which we defined as segment income and are based on operating income adjusted for share based compensation charges; loss on disposal of property, plant and equipment; restructuring charges; impairment charges; acquisition and disposal related gains and costs; other charges; depreciation and amortization; and unwind of the discount on deferred consideration. Unallocated assets and liabilities include those which are held on behalf of the Company and cannot be allocated to a segment, such as taxation, investments, cash, retirement benefits obligations, bank and other loans and holding company assets and liabilities. Financial information by reportable segment for the Quarter ended March 28, 2021, and March 29, 2020, is included in the following summary:
|  | Net sales |  |  | Adjusted EBITDA |
|  | First Quarter |  |  |  |  | First Quarter |  |  |
| In millions | 2021 |  | 2020 |  |  |  |  | 2021 |  | 2020 |  |  |
| Gas Cylinders segment | $ | 36.2 |  |  | $ | 37.2 |  |  |  |  |  | $ | 6.0 |  |  | $ | 4.2 |  |  |  |
| Elektron segment | 49.0 |  |  | 51.2 |  |  |  |  |  | 11.7 |  |  | 11.6 |  |  |  |
| Consolidated | $ | 85.2 |  |  | $ | 88.4 |  |  |  |  |  | $ | 17.7 |  |  | $ | 15.8 |  |  |  |
|  | Depreciation and amortization |  |  | Restructuring charges |
|  | First Quarter |  |  |  |  | First Quarter |  |  |
| In millions | 2021 |  | 2020 |  |  |  |  | 2021 |  | 2020 |  |  |
| Gas Cylinders segment | $ | 0.9 |  |  | $ | 0.9 |  |  |  |  |  | $ | 0.5 |  |  | $ | 2.6 |  |  |  |
| Elektron segment | 2.5 |  |  | 2.4 |  |  |  |  |  | 0.9 |  |  | — |  |  |  |
| Other | — |  |  | — |  |  |  |  |  | — |  |  | 0.2 |  |  |  |
| Consolidated | $ | 3.4 |  |  | $ | 3.3 |  |  |  |  |  | $ | 1.4 |  |  | $ | 2.8 |  |  |  |
(1) Adjusted EBITA is adjusted EBITDA less depreciation. 14. Segmental Information (continued)
|  | Total assets |  |  | Capital expenditures |
|  | First Quarter |  | December 31, |  |  |  |  | First Quarter |  |  |
| In millions | 2021 |  | 2020 |  |  |  |  | 2021 |  | 2020 |  |  |
| Gas Cylinders segment | $ | 122.5 |  |  | $ | 99.7 |  |  |  |  |  | $ | 0.3 |  |  | $ | 0.5 |  |  |  |
| Elektron segment | 197.2 |  |  | 189.7 |  |  |  |  |  | 1.2 |  |  | 1.1 |  |  |  |
| Other | 51.7 |  |  | 24.7 |  |  |  |  |  | — |  |  | — |  |  |  |
| Discontinued operations | 17.0 |  |  | 32.3 |  |  |  |  |  | — |  |  | — |  |  |  |
|  | $ | 388.4 |  |  | $ | 346.4 |  |  |  |  |  | $ | 1.5 |  |  | $ | 1.6 |  |  |  |
|  |  | Property, plant and equipment, net |
|  |  | First Quarter |  | December 31, |  |  |
| In millions |  | 2021 |  | 2020 |  |  |
| United States |  | $ | 52.7 |  |  | $ | 44.3 |  |  |  |
| United Kingdom |  | 36.2 |  |  | 36.6 |  |  |  |
| Rest of Europe |  | 1.1 |  |  | 1.1 |  |  |  |
| Asia Pacific |  | 0.3 |  |  | 0.3 |  |  |  |
| Canada |  | 3.6 |  |  | 3.7 |  |  |  |
|  |  | $ | 93.9 |  |  | $ | 86.0 |  |  |  |
The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations:
|  | First Quarter |  |  |
| In millions | 2021 |  | 2020 |  |  |
| Adjusted EBITDA | $ | 17.7 |  |  | $ | 15.8 |  |  |  |
| Other share-based compensation charges | (0.5) |  |  | (0.5) |  |  |  |
| Depreciation and amortization | (3.4) |  |  | (3.3) |  |  |  |
| Restructuring charges | (1.4) |  |  | (2.8) |  |  |  |
| Acquisition costs | (0.2) |  |  | (0.2) |  |  |  |
| Other charges | (1.1) |  |  | — |  |  |  |
| Defined benefits pension pension credit | 0.6 |  |  | 1.1 |  |  |  |
| Interest expense, net | (0.8) |  |  | (1.2) |  |  |  |
| Provision for income taxes | (2.3) |  |  | (1.7) |  |  |  |
| Net income from continuing operations | $ | 8.6 |  |  | $ | 7.2 |  |  |  |
The following tables present certain geographic information by geographic region for the First Quarter ended March 28, 2021, and March 29, 2020:
|  | Net Sales(1) |
|  | 2021 |  | 2020 |  |  |
|  | $M | Percent |  | $M | Percent |  |  |  |
| United States | $ | 46.7 |  | 54.9 | % |  | $ | 50.3 |  | 56.8 | % |  |  |  |
| U.K. | 5.3 |  | 6.2 | % |  | 5.4 |  | 6.1 | % |  |  |  |
| Germany | 3.7 |  | 4.3 | % |  | 3.5 |  | 4.0 | % |  |  |  |
| Italy | 3.6 |  | 4.2 | % |  | 2.8 |  | 3.2 | % |  |  |  |
| France | 3.3 |  | 3.9 | % |  | 4.6 |  | 5.2 | % |  |  |  |
| Top five countries | $ | 62.6 |  | 73.5 | % |  | $ | 66.6 |  | 75.3 | % |  |  |  |
| Rest of Europe | 7.1 |  | 8.3 | % |  | 7.0 |  | 7.9 | % |  |  |  |
| Asia Pacific | 11.0 |  | 12.9 | % |  | 10.4 |  | 11.8 | % |  |  |  |
| Other (2) | 4.5 |  | 5.3 | % |  | 4.4 |  | 5.0 | % |  |  |  |
|  | $ | 85.2 |  |  |  | $ | 88.4 |  |  |  |  |  |
(1) Net sales are based on the geographic destination of sale. (2) Other includes Canada, South America, Latin America and Africa.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration