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v3.25.2

Segments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Results by Business Segment | 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 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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