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v3.25.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Information by Reportable Segment | The following table shows information by reportable segment for the three and six months ended June 30, 2025:
|  | Three Months Ended June 30, 2025 |  |  | Six Months Ended June 30, 2025 |
|  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |  |  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |
Revenues from external customers |  | $ | 323.2 |  |  | $ | 152.5 |  |  | $ | 63.8 |  |  | $ | 539.5 |  |  | $ | 582.5 |  |  | $ | 298.1 |  |  | $ | 129.8 |  |  | $ | 1,010.4 |
Less: (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 262.9 |  |  |  | 130.0 |  |  |  | 47.6 |  |  |  | 440.5 |  |  |  | 471.2 |  |  |  | 254.1 |  |  |  | 96.3 |  |  |  | 821.6 |
Engineering, selling, and administration costs |  |  | 33.3 |  |  |  | 36.4 |  |  |  | 6.4 |  |  |  | 76.1 |  |  |  | 65.7 |  |  |  | 68.6 |  |  |  | 12.3 |  |  |  | 146.6 |
Other segment items (b) |  |  | 0.9 |  |  |  | 0.7 |  |  |  | — |  |  |  | 1.6 |  |  |  | 1.8 |  |  |  | 1.3 |  |  |  | — |  |  |  | 3.1 |
Segment operating income (loss) |  |  | 26.1 |  |  |  | (14.6 | ) |  |  | 9.8 |  |  |  | 21.3 |  |  |  | 43.8 |  |  |  | (25.9 | ) |  |  | 21.2 |  |  |  | 39.1 |
Reconciliation of segment operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (9.2 | ) |  |  |  |  |  |  |  |  |  |  |  | (17.9 | )
Amortization of deferred financing fees |  |  |  |  |  |  |  |  |  |  |  | (0.3 | ) |  |  |  |  |  |  |  |  |  |  |  | (0.7 | )
Other income (expense) - net |  |  |  |  |  |  |  |  |  |  |  | 1.0 |  |  |  |  |  |  |  |  |  |  |  |  | (4.0 | )
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other corporate expenses |  |  |  |  |  |  |  |  |  |  |  | (11.5 | ) |  |  |  |  |  |  |  |  |  |  |  | (24.0 | )
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 1.3 |  |  |  |  |  |  |  |  |  |  |  | $ | (7.5 | )
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (c) |  |  | 8.4 |  |  |  | 5.5 |  |  |  | 0.7 |  |  |  | 14.6 |  |  |  | 17.2 |  |  |  | 10.9 |  |  |  | 1.4 |  |  |  | 29.5 |
Capital expenditures |  |  | 3.6 |  |  |  | 1.8 |  |  |  | 0.5 |  |  |  | 5.9 |  |  |  | 9.4 |  |  |  | 5.4 |  |  |  | 1.5 |  |  |  | 16.3 |
(a) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (b) Other segment items for each reportable segment includes: Americas — amortization expense and restructuring expense. EURAF — restructuring expense. (c) The amount of depreciation and amortization disclosed by reportable segment are included within cost of sales or engineering, selling, and administration costs, as applicable. The following table shows information by reportable segment for the three and six months ended June 30, 2024:
|  | Three Months Ended June 30, 2024 |  |  | Six Months Ended June 30, 2024 |
|  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |  |  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |
Revenues from external customers |  | $ | 296.7 |  |  | $ | 176.2 |  |  | $ | 89.2 |  |  | $ | 562.1 |  |  | $ | 579.9 |  |  | $ | 319.2 |  |  | $ | 158.1 |  |  | $ | 1,057.2 |
Less: (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 237.0 |  |  |  | 151.1 |  |  |  | 74.3 |  |  |  | 462.4 |  |  |  | 459.8 |  |  |  | 275.7 |  |  |  | 129.5 |  |  |  | 865.0 |
Engineering, selling, and administration costs |  |  | 35.1 |  |  |  | 30.0 |  |  |  | 5.4 |  |  |  | 70.5 |  |  |  | 65.0 |  |  |  | 60.1 |  |  |  | 10.7 |  |  |  | 135.8 |
Other segment items (b) |  |  | 0.7 |  |  |  | 1.9 |  |  |  | 0.2 |  |  |  | 2.8 |  |  |  | 1.7 |  |  |  | 2.0 |  |  |  | 0.4 |  |  |  | 4.1 |
Segment operating income (loss) |  |  | 23.9 |  |  |  | (6.8 | ) |  |  | 9.3 |  |  |  | 26.4 |  |  |  | 53.4 |  |  |  | (18.6 | ) |  |  | 17.5 |  |  |  | 52.3 |
Reconciliation of segment operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (9.6 | ) |  |  |  |  |  |  |  |  |  |  |  | (18.8 | )
Amortization of deferred financing fees |  |  |  |  |  |  |  |  |  |  |  | (0.4 | ) |  |  |  |  |  |  |  |  |  |  |  | (0.7 | )
Other income (expense) - net |  |  |  |  |  |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  |  |  |  |  |  | 1.0 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other corporate expenses |  |  |  |  |  |  |  |  |  |  |  | (13.5 | ) |  |  |  |  |  |  |  |  |  |  |  | (24.2 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 3.2 |  |  |  |  |  |  |  |  |  |  |  | $ | 9.6 |
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (c) |  |  | 8.0 |  |  |  | 5.9 |  |  |  | 0.7 |  |  |  | 14.6 |  |  |  | 15.9 |  |  |  | 11.8 |  |  |  | 1.5 |  |  |  | 29.2 |
Capital expenditures |  |  | 6.8 |  |  |  | 5.0 |  |  |  | 1.1 |  |  |  | 12.9 |  |  |  | 11.0 |  |  |  | 12.2 |  |  |  | 1.9 |  |  |  | 25.1 |
(a) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (b) Other segment items for each reportable segment includes: Americas — amortization expense and restructuring expense. EURAF — restructuring expense. MEAP — restructuring expense. (c) The amount of depreciation and amortization disclosed by reportable segment are included within cost of sales or engineering, selling, and administration costs, as applicable.
Schedule of Net Sales by Geographic Area | Net sales by geographic area for the three and six months ended June 30, 2025 and 2024 are summarized as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
United States |  | $ | 286.2 |  |  | $ | 258.1 |  |  | $ | 527.4 |  |  | $ | 507.3 |
Europe |  |  | 147.6 |  |  |  | 171.9 |  |  |  | 289.1 |  |  |  | 310.1 |
Other |  |  | 105.7 |  |  |  | 132.1 |  |  |  | 193.9 |  |  |  | 239.8 |
Total net sales |  | $ | 539.5 |  |  | $ | 562.1 |  |  | $ | 1,010.4 |  |  | $ | 1,057.2 |
Schedule of Net Sales By Product | New machine and non-new machine sales for the three and six months ended June 30, 2025 and 2024 are summarized as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
New machine sales |  | $ | 377.9 |  |  | $ | 414.8 |  |  | $ | 688.2 |  |  | $ | 764.7 |
Non-new machine sales |  |  | 161.6 |  |  |  | 147.3 |  |  |  | 322.2 |  |  |  | 292.5 |
Total net sales |  | $ | 539.5 |  |  | $ | 562.1 |  |  | $ | 1,010.4 |  |  | $ | 1,057.2 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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