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v3.25.3

Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Information by Reportable Segment | The following table shows information by reportable segment for the three and nine months ended September 30, 2025:
|  | Three Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2025 |
|  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |  |  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |
Revenues from external customers |  | $ | 306.4 |  |  | $ | 163.2 |  |  | $ | 83.8 |  |  | $ | 553.4 |  |  | $ | 888.9 |  |  | $ | 461.3 |  |  | $ | 213.6 |  |  | $ | 1,563.8 |
Less: (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 246.2 |  |  |  | 140.0 |  |  |  | 64.6 |  |  |  | 450.8 |  |  |  | 717.4 |  |  |  | 394.1 |  |  |  | 160.9 |  |  |  | 1,272.4 |
Engineering, selling, and administration costs |  |  | 33.8 |  |  |  | 33.3 |  |  |  | 6.2 |  |  |  | 73.3 |  |  |  | 99.5 |  |  |  | 101.9 |  |  |  | 18.5 |  |  |  | 219.9 |
Other segment items (b) |  |  | 0.9 |  |  |  | 0.1 |  |  |  | — |  |  |  | 1.0 |  |  |  | 2.7 |  |  |  | 1.4 |  |  |  | — |  |  |  | 4.1 |
Segment operating income (loss) |  |  | 25.5 |  |  |  | (10.2 | ) |  |  | 13.0 |  |  |  | 28.3 |  |  |  | 69.3 |  |  |  | (36.1 | ) |  |  | 34.2 |  |  |  | 67.4 |
Reconciliation of segment operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (9.8 | ) |  |  |  |  |  |  |  |  |  |  |  | (27.7 | )
Amortization of deferred financing fees |  |  |  |  |  |  |  |  |  |  |  | (0.4 | ) |  |  |  |  |  |  |  |  |  |  |  | (1.1 | )
Other expense - net |  |  |  |  |  |  |  |  |  |  |  | (0.8 | ) |  |  |  |  |  |  |  |  |  |  |  | (4.8 | )
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other corporate expenses |  |  |  |  |  |  |  |  |  |  |  | (9.8 | ) |  |  |  |  |  |  |  |  |  |  |  | (33.8 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 7.5 |  |  |  |  |  |  |  |  |  |  |  | $ | - |
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (c) |  |  | 8.7 |  |  |  | 5.5 |  |  |  | 0.7 |  |  |  | 14.9 |  |  |  | 26.0 |  |  |  | 16.4 |  |  |  | 2.1 |  |  |  | 44.5 |
Capital expenditures |  |  | 2.5 |  |  |  | 4.7 |  |  |  | 0.5 |  |  |  | 7.7 |  |  |  | 11.8 |  |  |  | 10.2 |  |  |  | 2.0 |  |  |  | 24.0 |
(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 include: Americas — amortization expense and restructuring expense. EURAF — restructuring expense. (c) The amount of depreciation and amortization disclosed by reportable segment is 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 nine months ended September 30, 2024:
|  | Three Months Ended September 30, 2024 |  |  | Nine Months Ended September 30, 2024 |
|  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |  |  | Americas |  |  | EURAF |  |  | MEAP |  |  | Total |
Revenues from external customers |  | $ | 287.1 |  |  | $ | 126.8 |  |  | $ | 110.9 |  |  | $ | 524.8 |  |  | $ | 867.0 |  |  | $ | 446.0 |  |  | $ | 269.0 |  |  | $ | 1,582.0 |
Less: (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 232.3 |  |  |  | 111.5 |  |  |  | 93.4 |  |  |  | 437.2 |  |  |  | 692.1 |  |  |  | 387.2 |  |  |  | 222.9 |  |  |  | 1,302.2 |
Engineering, selling, and administration costs |  |  | 30.6 |  |  |  | 30.0 |  |  |  | 7.2 |  |  |  | 67.8 |  |  |  | 95.6 |  |  |  | 90.1 |  |  |  | 17.9 |  |  |  | 203.6 |
Other segment items (b) |  |  | 1.0 |  |  |  | 0.2 |  |  |  | 0.3 |  |  |  | 1.5 |  |  |  | 2.7 |  |  |  | 2.2 |  |  |  | 0.7 |  |  |  | 5.6 |
Segment operating income (loss) |  |  | 23.2 |  |  |  | (14.9 | ) |  |  | 10.0 |  |  |  | 18.3 |  |  |  | 76.6 |  |  |  | (33.5 | ) |  |  | 27.5 |  |  |  | 70.6 |
Reconciliation of segment operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (9.6 | ) |  |  |  |  |  |  |  |  |  |  |  | (28.4 | )
Amortization of deferred financing fees |  |  |  |  |  |  |  |  |  |  |  | (0.3 | ) |  |  |  |  |  |  |  |  |  |  |  | (1.0 | )
Other expense - net |  |  |  |  |  |  |  |  |  |  |  | (4.9 | ) |  |  |  |  |  |  |  |  |  |  |  | (3.9 | )
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other corporate expenses |  |  |  |  |  |  |  |  |  |  |  | (10.8 | ) |  |  |  |  |  |  |  |  |  |  |  | (35.0 | )
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (7.3 | ) |  |  |  |  |  |  |  |  |  |  | $ | 2.3 |
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (c) |  |  | 8.4 |  |  |  | 6.0 |  |  |  | 0.6 |  |  |  | 15.0 |  |  |  | 24.4 |  |  |  | 17.9 |  |  |  | 2.1 |  |  |  | 44.4 |
Capital expenditures |  |  | 3.6 |  |  |  | 4.8 |  |  |  | 0.5 |  |  |  | 8.9 |  |  |  | 14.6 |  |  |  | 17.0 |  |  |  | 2.4 |  |  |  | 34.0 |
(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 include: Americas — amortization expense and restructuring expense. EURAF — restructuring expense. MEAP — restructuring expense. (c) The amount of depreciation and amortization disclosed by reportable segment is 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 nine months ended September 30, 2025 and 2024 are summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
United States |  | $ | 277.9 |  |  | $ | 253.9 |  |  | $ | 805.3 |  |  | $ | 761.2 |
Europe |  |  | 157.5 |  |  |  | 123.8 |  |  |  | 446.6 |  |  |  | 433.9 |
Other |  |  | 118.0 |  |  |  | 147.1 |  |  |  | 311.9 |  |  |  | 386.9 |
Total net sales |  | $ | 553.4 |  |  | $ | 524.8 |  |  | $ | 1,563.8 |  |  | $ | 1,582.0 |
Schedule of Net Sales By Product | New machine and non-new machine sales for the three and nine months ended September 30, 2025 and 2024 are summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
New machine sales |  | $ | 376.0 |  |  | $ | 355.6 |  |  | $ | 1,064.2 |  |  | $ | 1,120.3 |
Non-new machine sales |  |  | 177.4 |  |  |  | 169.2 |  |  |  | 499.6 |  |  |  | 461.7 |
Total net sales |  | $ | 553.4 |  |  | $ | 524.8 |  |  | $ | 1,563.8 |  |  | $ | 1,582.0 |

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