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v3.25.2

Revenue | 6 Months Ended
--- | ---
Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue We disaggregate our revenue by product line and geographic region of our customers as we believe these metrics best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. See details in the tables below.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In millions)
PRODUCT LINE |  |  |  |  |  |  |
Supply technologies | $ | 161.3 |  |  | $ | 173.8 |  |  | $ | 322.4 |  |  | $ | 341.4 |
Engineered specialty fasteners and other products | 25.8 |  |  | 28.8 |  |  | 52.5 |  |  | 58.1 |
Supply Technologies Segment | 187.1 |  |  | 202.6 |  |  | 374.9 |  |  | 399.5 |
Fuel, rubber and plastic products | 95.1 |  |  | 103.1 |  |  | 192.0 |  |  | 210.3 |
Assembly Components Segment | 95.1 |  |  | 103.1 |  |  | 192.0 |  |  | 210.3 |
Industrial equipment | 92.1 |  |  | 93.8 |  |  | 182.1 |  |  | 173.2 |
Forged and machined products | 25.8 |  |  | 33.1 |  |  | 56.5 |  |  | 67.2 |
Engineered Products Segment | 117.9 |  |  | 126.9 |  |  | 238.6 |  |  | 240.4 |
Total revenues | $ | 400.1 |  |  | $ | 432.6 |  |  | $ | 805.5 |  |  | $ | 850.2 |
| Supply Technologies Segment |  | Assembly Components Segment |  | Engineered Products Segment |  | Total Revenues
| (In millions)
Three Months Ended June 30, 2025 |  |  |  |  |  |  |
GEOGRAPHIC REGION |  |  |  |  |  |  |
United States | $ | 104.4 |  |  | $ | 60.0 |  |  | $ | 75.2 |  |  | $ | 239.6 |
Europe | 41.1 |  |  | 3.9 |  |  | 15.9 |  |  | 60.9 |
Asia | 18.8 |  |  | 8.2 |  |  | 16.5 |  |  | 43.5 |
Mexico | 18.3 |  |  | 14.0 |  |  | 4.5 |  |  | 36.8 |
Canada | 2.9 |  |  | 7.9 |  |  | 5.4 |  |  | 16.2 |
Other | 1.6 |  |  | 1.1 |  |  | 0.4 |  |  | 3.1 |
Total | $ | 187.1 |  |  | $ | 95.1 |  |  | $ | 117.9 |  |  | $ | 400.1 |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |
GEOGRAPHIC REGION |  |  |  |  |  |  |
United States | $ | 119.5 |  |  | $ | 68.6 |  |  | $ | 70.2 |  |  | $ | 258.3 |
Europe | 39.8 |  |  | 4.2 |  |  | 21.2 |  |  | 65.2 |
Asia | 19.6 |  |  | 8.0 |  |  | 20.3 |  |  | 47.9 |
Mexico | 19.5 |  |  | 13.2 |  |  | 5.8 |  |  | 38.5 |
Canada | 4.0 |  |  | 8.0 |  |  | 5.4 |  |  | 17.4 |
Other | 0.2 |  |  | 1.1 |  |  | 4.0 |  |  | 5.3 |
Total | $ | 202.6 |  |  | $ | 103.1 |  |  | $ | 126.9 |  |  | $ | 432.6 |
| Supply Technologies Segment |  | Assembly Components Segment |  | Engineered Products Segment |  | Total Revenues
| (In millions)
Six Months Ended June 30, 2025 |  |  |  |  |  |  |
GEOGRAPHIC REGION |  |  |  |  |  |  |
United States | $ | 213.0 |  |  | $ | 120.1 |  |  | $ | 142.4 |  |  | $ | 475.5 |
Europe | 81.5 |  |  | 8.3 |  |  | 30.8 |  |  | 120.6 |
Asia | 36.5 |  |  | 16.6 |  |  | 36.7 |  |  | 89.8 |
Mexico | 35.8 |  |  | 29.1 |  |  | 10.0 |  |  | 74.9 |
Canada | 6.0 |  |  | 15.7 |  |  | 14.6 |  |  | 36.3 |
Other | 2.1 |  |  | 2.2 |  |  | 4.1 |  |  | 8.4 |
Total | $ | 374.9 |  |  | $ | 192.0 |  |  | $ | 238.6 |  |  | $ | 805.5 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |
GEOGRAPHIC REGION |  |  |  |  |  |  |
United States | $ | 233.0 |  |  | $ | 140.1 |  |  | $ | 133.9 |  |  | $ | 507.0 |
Europe | 78.8 |  |  | 8.7 |  |  | 40.1 |  |  | 127.6 |
Asia | 40.3 |  |  | 16.5 |  |  | 35.2 |  |  | 92.0 |
Mexico | 38.9 |  |  | 26.9 |  |  | 9.5 |  |  | 75.3 |
Canada | 7.8 |  |  | 15.9 |  |  | 13.2 |  |  | 36.9 |
Other | 0.7 |  |  | 2.2 |  |  | 8.5 |  |  | 11.4 |
Total | $ | 399.5 |  |  | $ | 210.3 |  |  | $ | 240.4 |  |  | $ | 850.2 |
For over time arrangements, contract assets primarily relate to revenue recognized in advance of billings to customers under long-term contracts accounted for under percentage of completion. These amounts, which totaled $50.6 million and $45.3 million at June 30, 2025 and December 31, 2024, respectively, are recorded in Other current assets in the Condensed Consolidated Balance Sheets. For over time arrangements, contract liabilities primarily relate to advances or deposits received from the Company’s customers before revenue is recognized. These amounts, which totaled $43.4 million and $53.1 million at June 30, 2025 and December 31, 2024, respectively, are recorded in Accrued expenses and other in the Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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