XML 63 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes

Income/(loss) before income taxes consisted of the following:

									Years ended December 31,
			In millions						2024						2023						2022
			U.K.						$	10.7					$	10.4					$	10.9
			International(1)						15.8						(20.1)						30.1
			Income / (loss) before income taxes						$	26.5					$	(9.7)					$	41.0

(1) "International" reflects non-U.K. income before income taxes.

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:

									Years ended December 31,
			In millions						2024						2023						2022
			Currently payable / (receivable)
			U.K.						$	0.5					$	0.5					$	(3.5)
			International(1)						5.8						0.4						2.7
			Total current taxes						$	6.3					$	0.9					$	(0.8)
			Deferred
			U.K.						$	1.9					$	1.3					$	7.1
			International(1)						—						(9.3)						2.7
			Total deferred taxes						$	1.9					$	(8.0)					$	9.8
			Total provision for income taxes						$	8.2					$	(7.1)					$	9.0

(1) "International" reflects non-U.K. income taxes.

Reconciliation of Income before Income Taxes and Total Provision for Income Taxes

Differences between the financial reporting and the corresponding tax basis of assets and liabilities and the different income tax rates and laws applicable to the Company, among other factors, give rise to permanent differences between the statutory tax rate applicable in the U.K. and the effective tax rate presented in the Consolidated Income Statement, which in 2024, 2023 and 2022, were as follows:

						Years ended December 31,
			In millions			2024						2023						2022
			Income / (loss) before income taxes			$	26.5					$	(9.7)					$	41.0
			Provision for income taxes at the U.K. statutory tax rate (2024: 25%, 2023: 23.5%, 2022:19%)			6.6						(2.3)						7.8
			Effect of:
			Non-deductible expenses			2.4						0.6						0.7
			Movement in valuation allowances			—						(0.2)						0.6
			Differences in income tax rates in countries where the Company operates(1)			(0.5)						0.6						1.5
			Effect of changes in tax rates			(0.2)						0.1						(0.1)
			Tax impact of defined benefit pension settlement			—						(4.9)						—
			Other			(0.1)						(1.0)						(1.5)
			Total provision for income taxes			$	8.2					$	(7.1)					$	9.0

(1) Refers mainly to the effects of the differences between the statutory income tax rate in the U.K. against the applicable income tax rates of each country where the Company operates.

Schedule of Unrecognized Tax Benefits

Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows:

						Years ended December 31,
			In millions			2024						2023						2022
			Beginning balance			$	1.1					$	1.1					$	1.8
			Reductions due to expiry of statute of limitations			(1.1)						—						(0.7)
			Ending balance			$	—					$	1.1					$	1.1
			Non-current			$	—					$	1.1					$	1.1

Summary of Tax Years Open by Major Tax Jurisdiction

The following is a summary of the tax years open by major tax jurisdiction:

			Jurisdiction						Years open
			U.K.						2021 - 2024
			U.S. Federal						2021 - 2024
			U.S. State and local						2021 - 2024
			France						2021 - 2024
			China						2021 - 2024
			Canada						2020 - 2024

Schedule of Deferred Tax Assets and Liabilities

Deferred taxes were recorded in the Consolidated Balance Sheets as follows:

						December 31,
			In millions			2024						2023
			Deferred tax assets			$	4.1					$	3.9
			Deferred tax liabilities			(14.0)						(10.2)
			Net deferred tax (liabilities)			$	(9.9)					$	(6.3)

The tax effects of the major items recorded in deferred tax assets and liabilities were as follows:

						December 31,
			In millions			2024						2023
			Deferred tax assets
			Accrued liabilities			1.3						1.0
			Tax loss and credit carry forwards			18.2						19.0
			Employee compensation benefits			2.3						1.2
			Operating leases			3.2						3.5
			Property, plant and equipment			2.0						1.4
			Excess interest capacity carry forward			1.9						2.0
			Other			0.6						0.7
			Total deferred tax assets			29.5						28.8
			Valuation allowances			(17.4)						(17.0)
			Deferred tax assets, net of valuation allowances			$	12.1					$	11.8
			Deferred tax liabilities
			Property, plant and equipment			$	2.2					$	1.5
			Pension benefits			12.2						9.4
			Goodwill and other intangibles			4.8						4.4
			Operating leases			2.8						2.8
			Other			—						—
			Total deferred tax liabilities			$	22.0					$	18.1
			Net deferred tax assets			$	(9.9)					$	(6.3)

Summary of Valuation Allowance

Reconciliations of the beginning and ending valuation allowances were as follows:

						Years ended December 31,
			In millions			2024						2023
			Beginning balance			$	17.0					$	16.5
			Foreign exchange movements			(0.8)						0.7
			Additions / (deductions)			1.2						(0.2)
			Closing balance			$	17.4					$	17.0

X

- Definition

Summary Of Tax Years Open By Major Tax Jurisdiction [Table Text Block]

+ References

No definition available.

+ Details

Name:	lxfr_SummaryOfTaxYearsOpenByMajorTaxJurisdictionTableTextBlock
Namespace Prefix:	lxfr_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration