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Segments | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Segments | Segments The Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. The chief operating decision maker is the Company's Chief Executive Officer. For purposes of measuring business segment performance, the chief operating decision maker utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or corporate costs, which include but are not limited to executive compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by adjusting for corporate costs; other components of pension and other postretirement benefits income, net; and interest expense, net. Results by business segment were as follows:
| Supply Technologies |  | Assembly Components |  | Engineered Products |  | Corporate |  | Total
| (In millions)
| Three Months Ended June 30, 2025
Net sales | $ | 187.1 |  |  | $ | 95.1 |  |  | $ | 117.9 |  |  | $ | — |  |  | $ | 400.1 |
Cost of sales | 154.3 |  |  | 84.2 |  |  | 93.4 |  |  | — |  |  | 331.9 |
Gross profit | 32.8 |  |  | 10.9 |  |  | 24.5 |  |  | — |  |  | 68.2 |
Selling, general and administrative expenses | 16.1 |  |  | 4.8 |  |  | 18.1 |  |  | 7.8 |  |  | 46.8 |
Restructuring and other special charges | 0.4 |  |  | 0.5 |  |  | 0.4 |  |  | — |  |  | 1.3 |
Operating income | 16.3 |  |  | 5.6 |  |  | 6.0 |  |  | (7.8) |  |  | 20.1 |
Other components of pension and other postretirement benefits income, net |  |  |  |  |  |  |  |  | 1.8 |
Interest expense, net |  |  |  |  |  |  |  |  | (11.2) |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  | $ | 10.7 |
| Three Months Ended June 30, 2024
Net sales | $ | 202.6 |  |  | $ | 103.1 |  |  | $ | 126.9 |  |  | $ | — |  |  | $ | 432.6 |
Cost of sales | 165.3 |  |  | 92.4 |  |  | 101.7 |  |  | — |  |  | 359.4 |
Gross profit | 37.3 |  |  | 10.7 |  |  | 25.2 |  |  | — |  |  | 73.2 |
Selling, general and administrative expenses | 18.1 |  |  | 3.8 |  |  | 17.9 |  |  | 7.6 |  |  | 47.4 |
Restructuring and other special charges | 0.2 |  |  | — |  |  | 1.0 |  |  | — |  |  | 1.2 |
Operating income | 19.0 |  |  | 6.9 |  |  | 6.3 |  |  | (7.6) |  |  | 24.6 |
Other components of pension and other postretirement benefits income, net |  |  |  |  |  |  |  |  | 1.4 |
Interest expense, net |  |  |  |  |  |  |  |  | (12.0) |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  | $ | 14.0 |
| Supply Technologies |  | Assembly Components |  | Engineered Products |  | Corporate |  | Total
| (In millions)
| Six Months Ended June 30, 2025
Net sales | $ | 374.9 |  |  | $ | 192.0 |  |  | $ | 238.6 |  |  | $ | — |  |  | $ | 805.5 |
Cost of sales | 307.5 |  |  | 169.9 |  |  | 191.8 |  |  | — |  |  | 669.2 |
Gross profit | 67.4 |  |  | 22.1 |  |  | 46.8 |  |  | — |  |  | 136.3 |
Selling, general and administrative expenses | 32.9 |  |  | 10.5 |  |  | 35.8 |  |  | 15.8 |  |  | 95.0 |
Restructuring, acquisition-related and other special charges | 0.4 |  |  | 0.7 |  |  | 1.2 |  |  | — |  |  | 2.3 |
Operating income | 34.1 |  |  | 10.9 |  |  | 9.8 |  |  | (15.8) |  |  | 39.0 |
Other components of pension and other postretirement benefits income, net |  |  |  |  |  |  |  |  | 3.6 |
Interest expense, net |  |  |  |  |  |  |  |  | (22.2) |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  | $ | 20.4 |
| Six Months Ended June 30, 2024
Net sales | $ | 399.5 |  |  | $ | 210.3 |  |  | $ | 240.4 |  |  | $ | — |  |  | $ | 850.2 |
Cost of sales | 326.4 |  |  | 185.9 |  |  | 193.3 |  |  | — |  |  | 705.6 |
Gross profit | 73.1 |  |  | 24.4 |  |  | 47.1 |  |  | — |  |  | 144.6 |
Selling, general and administrative expenses | 34.4 |  |  | 8.9 |  |  | 36.0 |  |  | 15.2 |  |  | 94.5 |
Restructuring, acquisition-related and other special charges | 0.2 |  |  | — |  |  | 1.3 |  |  | — |  |  | 1.5 |
Operating income | 38.5 |  |  | 15.5 |  |  | 9.8 |  |  | (15.2) |  |  | 48.6 |
Other components of pension and other postretirement benefits income, net |  |  |  |  |  |  |  |  | 2.7 |
Interest expense, net |  |  |  |  |  |  |  |  | (23.9) |
Gains on sales of assets |  |  |  |  |  |  |  |  | — |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  | $ | 27.4 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures: |  |  |  |  |  |  |
Supply Technologies | $ | 3.1 |  |  | $ | 3.2 |  |  | $ | 7.8 |  |  | $ | 4.5 |
Assembly Components | 1.5 |  |  | 1.5 |  |  | 2.9 |  |  | 3.3 |
Engineered Products | 2.7 |  |  | 2.1 |  |  | 5.8 |  |  | 4.1 |
Corporate | 0.1 |  |  | 0.6 |  |  | 0.4 |  |  | 1.3 |
| $ | 7.4 |  |  | $ | 7.4 |  |  | $ | 16.9 |  |  | $ | 13.2 |
Depreciation and amortization expense: |  |  |  |  |  |  |
Supply Technologies | $ | 1.7 |  |  | $ | 1.7 |  |  | $ | 3.3 |  |  | $ | 3.4 |
Assembly Components | 3.2 |  |  | 3.5 |  |  | 6.6 |  |  | 6.9 |
Engineered Products | 3.3 |  |  | 3.1 |  |  | 6.4 |  |  | 6.3 |
Corporate | — |  |  | — |  |  | 0.2 |  |  | 0.1 |
| $ | 8.2 |  |  | $ | 8.3 |  |  | $ | 16.5 |  |  | $ | 16.7 |
|  |  |  |  | June 30, 2025 |  | December 31, 2024
Identifiable assets: |  |  |  |  |  |  |
Supply Technologies |  |  |  |  | $ | 504.9 |  |  | $ | 465.6 |
Assembly Components |  |  |  |  | 294.5 |  |  | 284.3 |
Engineered Products |  |  |  |  | 467.1 |  |  | 468.8 |
Corporate |  |  |  |  | 155.2 |  |  | 146.4 |
|  |  |  |  | $ | 1,421.7 |  |  | $ | 1,365.1 |

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- Definition The entire disclosure for reporting segments including data and tables. 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