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Segmental Information (Tables)

9 Months Ended

Sep. 29, 2024

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

Financial information by reportable segment for the Third Quarter and first half ended September 29, 2024, and October 1, 2023, is included in the following summary:

						Net sales																								Adjusted EBITDA
						Third Quarter												Year-to-date												Third Quarter												Year-to-date
			In millions			2024						2023						2024						2023						2024						2023						2024						2023
			Gas Cylinders segment			$	42.6					$	44.7					$	137.8					$	134.7					$	4.6					$	2.8					$	13.6					$	10.2
			Elektron segment			48.8						45.6						128.5						151.0						10.8						6.0						29.6						25.0
			Graphic Arts segment			8.0						7.1						22.2						23.4						(0.1)						(2.8)						(1.7)						(3.5)
			Consolidated			$	99.4					$	97.4					$	288.5					$	309.1					$	15.3					$	6.0					$	41.5					$	31.7

(1) Adjusted EBITA is adjusted EBITDA less depreciation and loss on disposal of property, plant and equipment.

15.    Segmental Information (continued)

						Depreciation and amortization																								Restructuring charges
						Third Quarter												Year-to-date												Third Quarter												Year-to-date
			In millions			2024						2023						2024						2023						2024						2023						2024						2023
			Gas Cylinders segment			$	0.9					$	1.1					$	2.6					$	3.2					$	0.5					$	1.4					$	2.1					$	4.2
			Elektron segment			1.7						1.6						4.9						5.1						—						0.2						0.2						0.2
			Graphic Arts segment			—						0.5						—						1.5						—						—						—						—
			Consolidated			$	2.6					$	3.2					$	7.5					$	9.8					$	0.5					$	1.6					$	2.3					$	4.4

						Total assets												Capital expenditures
						September 29,						December 31,						Third Quarter												Year-to-date
			In millions			2024						2023						2024						2023						2024						2023
			Gas Cylinders segment			$	139.0					$	131.0					$	1.1					$	0.8					$	3.2					$	1.4
			Elektron segment			183.8						162.4						1.8						1.6						3.9						5.5
			Graphic Arts segment			14.3						19.6						0.1						0.1						0.2						0.6
			Total reportable segments			337.1						313.0						3.0						2.5						7.3						7.5
			Other			59.9						51.3						—						—						—						—
			Discontinued operations			7.8						7.8						—						—						—						0.1
			Consolidated			$	404.8					$	372.1					$	3.0					$	2.5					$	7.3					$	7.6

Property, plant and equipment, net by geographic region

						Property, plant and equipment, net
						September 29,						December 31,
			In millions			2024						2023
			U.S.			$	27.1					$	26.8
			United Kingdom			34.4						32.8
			Canada			2.9						2.9
			Rest of Europe			1.0						1.0
			Asia Pacific			0.3						0.3
						$	65.7					$	63.8

Reconciliation of operating profit (loss) from segments to consolidated

The following table presents a reconciliation of Adjusted EBITDA to net income before income taxes, from continuing operations:

						Third Quarter												Year-to-date
			In millions			2024						2023						2024						2023
			Adjusted EBITDA			$	15.3					$	6.0					$	41.5					$	31.7
			Other share-based compensation charges			(0.7)						(0.7)						(2.1)						(2.0)
			Gain on disposal of held for sale assets			6.1						—						6.1						—			0
			Depreciation and amortization			(2.6)						(3.2)						(7.5)						(9.8)
			Loss on disposal of property, plant and equipment			(0.1)						—						(0.1)						—
			Restructuring charges			(0.5)						(1.6)						(2.3)						(4.4)
			Acquisition and disposal related costs			(0.1)						—						(9.5)						—
			Defined benefits pension credit / (charge)			0.3						0.3						0.8						(8.0)
			Interest expense, net			(1.4)						(1.6)						(4.1)						(4.7)
			Net income before income taxes from continuing operations			$	16.3					$	(0.8)					$	22.8					$	2.8

Revenue from external customers and long-term assets by geographic areas

The following tables present certain geographic information by geographic region for the Third Quarter ended September 29, 2024, and October 1, 2023:

						Net Sales(1)
						Third Quarter																		Year-to-date
						2024									2023									2024									2023
						$M			Percent						$M			Percent						$M			Percent						$M			Percent
			United States			$	57.7		58.1		%				$	59.0		60.7		%				$	168.2		58.3		%				$	184.5		59.7		%
			Germany			5.8			5.8		%				4.7			4.8		%				18.4			6.4		%				14.8			4.8		%
			United Kingdom			7.4			7.4		%				4.3			4.4		%				18.0			6.2		%				15.1			4.9		%
			Japan			5.7			5.7		%				5.1			5.2		%				14.7			5.1		%				15.9			5.1		%
			Canada			2.8			2.8		%				3.3			3.4		%				9.3			3.2		%				8.5			2.7		%
			Top five countries			79.4			79.8		%				76.4			78.5		%				228.6			79.2		%				238.8			77.2		%
			Rest of Europe			12.1			12.3		%				10.8			11.1		%				36.5			12.7		%				35.5			11.5		%
			Asia Pacific			5.8			5.8		%				4.9			5.0		%				16.1			5.6		%				22.2			7.2		%
			Other (2)			2.1			2.1		%				5.3			5.4		%				7.3			2.5		%				12.6			4.1		%
						$	99.4								$	97.4								$	288.5								$	309.1

(1) Net sales are based on the geographic destination of sale.

(2) Other includes South America, Latin America and Africa.

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