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Segment Financial Data
 9 Months Ended
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,
20252024
Refrigerants & Applied SolutionsElectronic & Specialty MaterialsRefrigerants & Applied SolutionsElectronic & 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 expenses16 9 12 9 
Other segment items1
(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,
20252024
Refrigerants & Applied SolutionsElectronic & Specialty MaterialsRefrigerants & Applied SolutionsElectronic & 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 expenses44 26 35 25 
Other segment items1
(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,
2025202420252024
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 adjustments1
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 interest26 (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, 2025December 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,
20252024
Capital expenditures
Refrigerants & Applied Solutions
$150 

$153 
Electronic & Specialty Materials
98 

43 
Corporate and All Other
— 

5 
Total
$248 

$201