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Segment Financial Data | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Financial Data | Segment Financial Data The Company globally manages its business operations through two reportable business segments. Segment information is consistent with how the President and Chief Executive Officer of the Solstice Advanced Materials business, who is the Chief Operating Decision Maker (“CODM”), and management reviews the businesses, makes investing and resource allocation decisions, and assesses operating performance. The Company manages and reports its operating results through its two reportable segments: (i) Refrigerants & Applied Solutions and (ii) Electronic & Specialty Materials, in accordance with ASC 280, Segment Reporting. The remainder of the Business’ operations are presented in Corporate and All Other, which is not a reportable business segment. The CODM evaluates segment performance based on segment adjusted EBITDA, by comparing budget-to-actual and period-over-period results. Each segment’s adjusted EBITDA excludes depreciation, amortization, general corporate unallocated expense, interest and other financial charges, stock compensation expense, pension and other postretirement income (expense), repositioning charges, accretion expense, transaction costs and other items within Other expense (income) which are collectively included within income before taxes. The below table summarizes information about segment revenues, significant segment expenses and other segment items, for each historical period:
| Three Months Ended September 30,
| 2025 |  | 2024
| Refrigerants & Applied Solutions |  | Electronic & Specialty Materials |  | Refrigerants & Applied Solutions |  | Electronic & Specialty Materials
Net sales |  |  |  |  |  |  |
Products | 623 |  |  | 282 |  |  | 566 |  |  | 277 |
Services | 64 |  |  | — |  |  | 64 |  |  | — |
Total Net sales | 687 |  |  | 282 |  |  | 630 |  |  | 277 |
Less |  |  |  |  |  |  |
Cost of products and services sold | 444 |  |  | 214 |  |  | 370 |  |  | 204 |
Selling, general and administrative expenses | 25 |  |  | 21 |  |  | 41 |  |  | 20 |
Research & development expenses | 16 |  |  | 9 |  |  | 12 |  |  | 9 |
Other segment items 1 | (2) |  |  | (2) |  |  | (3) |  |  | (2) |
Add |  |  |  |  |  |  |
Depreciation | 36 |  |  | 7 |  |  | 34 |  |  | 8 |
Amortization | 3 |  |  | — |  |  | 6 |  |  | 1 |
Segment Adjusted EBITDA | $ | 243 |  |  | $ | 47 |  |  | $ | 250 |  |  | $ | 55 |
__________________ 1.Other segment items primarily consisted of gains and losses from segment-related equity-method investments.
| Nine Months Ended September 30,
| 2025 |  | 2024
| Refrigerants & Applied Solutions |  | Electronic & Specialty Materials |  | Refrigerants & Applied Solutions |  | Electronic & Specialty Materials
Net sales |  |  |  |  |  |  |
Products | 1,867 |  |  | 820 |  |  | 1,839 |  |  | 782 |
Services | 212 |  |  | — |  |  | 236 |  |  | — |
Total Net sales | 2,079 |  |  | 820 |  |  | 2,075 |  |  | 782 |
Less |  |  |  |  |  |  |
Cost of products and services sold | 1,286 |  |  | 623 |  |  | 1,266 |  |  | 590 |
Selling, general and administrative expenses | 94 |  |  | 59 |  |  | 107 |  |  | 57 |
Research & development expenses | 44 |  |  | 26 |  |  | 35 |  |  | 25 |
Other segment items 1 | (9) |  |  | (5) |  |  | (9) |  |  | (5) |
Add |  |  |  |  |  |  |
Depreciation | 115 |  |  | 33 |  |  | 98 |  |  | 27 |
Amortization | 12 |  |  | 2 |  |  | 32 |  |  | 2 |
Segment Adjusted EBITDA | $ | 791 |  |  | $ | 152 |  |  | $ | 806 |  |  | $ | 144 |
__________________ 1.Other segment items primarily consisted of gains and losses from segment-related equity-method investments. A reconciliation of segment adjusted EBITDA to Net (loss) income attributable to Solstice Advanced Materials is as follows:
| For The Three Months Ended September 30, |  | For The Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Refrigerants & Applied Solutions | $ | 243 |  |  | $ | 250 |  |  | $ | 791 |  |  | $ | 806 |
Electronic & Specialty Materials | 47 |  |  | 55 |  |  | 152 |  |  | 144 |
Segment Adjusted EBITDA | $ | 290 |  |  | $ | 305 |  |  | $ | 943 |  |  | $ | 950 |
Corporate and All Other | (54) |  |  | (33) |  |  | (132) |  |  | (113) |
Depreciation | (46) |  |  | (42) |  |  | (151) |  |  | (126) |
Amortization | (4) |  |  | (7) |  |  | (15) |  |  | (35) |
Interest and other financial charges | (2) |  |  | (3) |  |  | (5) |  |  | (11) |
Other adjustments 1 | 29 |  |  | (16) |  |  | 30 |  |  | (25) |
Stock compensation expense | (8) |  |  | (4) |  |  | (19) |  |  | (13) |
Transaction-related costs | (32) |  |  | (3) |  |  | (90) |  |  | (6) |
Income tax expense | (182) |  |  | (49) |  |  | (330) |  |  | (150) |
Net (loss) income | $ | (9) |  |  | $ | 148 |  |  | $ | 231 |  |  | $ | 471 |
Less: Net income (loss) attributable to noncontrolling interest | 26 |  |  | (4) |  |  | 35 |  |  | 10 |
Net (loss) income attributable to Solstice Advanced Materials | $ | (35) |  |  | $ | 152 |  |  | $ | 196 |  |  | $ | 461 |
__________________ 1.Other adjustments primarily consisted of gains and losses from foreign currency, environmental reserves, asset retirement obligations, pensions expenses, and certain legal costs, net of recoveries.
| September 30, 2025 |  | December 31, 2024
Total assets reconciliation |  |  |
Refrigerants & Applied Solutions | $ | 3,555 |  |  | $ | 3,157 |
Electronic & Specialty Materials | 1,466 |  |  | 1,192 |
Corporate and All Other | 226 |  |  | 655 |
Total assets | $ | 5,247 |  |  | $ | 5,004 |
| For The Nine Months Ended September 30,
| 2025 |  | 2024
Capital expenditures |  |  |
Refrigerants & Applied Solutions | $ | 150 |  |  | $ | 153 |
Electronic & Specialty Materials | 98 |  |  | 43 |
Corporate and All Other | — |  |  | 5 |
Total | $ | 248 |  |  | $ | 201 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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