Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of sales by segment

(In millions)	2022		2021		2020
Total sales:
High Performance Materials & Components	$	1,815.7	$	1,248.3	$	1,235.4
Advanced Alloys & Solutions	2,433.7		1,762.4		1,947.5
Total sales	4,249.4		3,010.7		3,182.9
Intersegment sales:
High Performance Materials & Components	174.5		93.2		70.8
Advanced Alloys & Solutions	238.9		117.7		130.0
Total intersegment sales	413.4		210.9		200.8
Sales to external customers:
High Performance Materials & Components	1,641.2		1,155.1		1,164.6
Advanced Alloys & Solutions	2,194.8		1,644.7		1,817.5
Total sales to external customers	$	3,836.0	$	2,799.8	$	2,982.1

Schedule of operating profit (loss) by segment

(In millions)	2022		2021		2020
EBITDA:
High Performance Materials & Components	$	296.0	$	159.9	$	129.6
Advanced Alloys & Solutions	327.8		191.7		115.0
Total segment EBITDA	623.8		351.6		244.6
Corporate expenses	(62.4)		(55.9)		(40.9)
Closed operations and other expenses	(12.1)		(4.8)		(7.4)
Depreciation & amortization	(142.9)		(143.9)		(143.3)
Interest expense, net	(87.4)		(96.9)		(94.4)
Restructuring and other credits (charges) (See Note 19)	(23.7)		10.5		(1,132.1)
Strike related costs	—		(63.2)		—
Retirement benefit settlement gain (See Note 14)	—		64.9		—
Impairment of goodwill (See Note 5)	—		—		(287.0)
Joint venture restructuring credit (charge) (See Note 7)	0.9		—		(2.4)
Debt extinguishment charge (See Note 10)	—		(65.5)		(21.5)
Gain (loss) on asset sales and sale of business, net	(134.2)		13.8		2.5
Income (loss) before income taxes	$	162.0	$	10.6	$	(1,481.9)

Schedule of other financial information by segment

Certain additional information regarding the Company’s business segments is presented below:

(In millions)	2022		2021		2020
Depreciation and amortization:
High Performance Materials & Components	$	68.3	$	75.0	$	78.1
Advanced Alloys & Solutions	67.4		64.5		62.1
Other	7.2		4.4		3.1
Total depreciation and amortization	$	142.9	$	143.9	$	143.3
Capital expenditures:
High Performance Materials & Components	$	33.3	$	40.2	$	83.1
Advanced Alloys & Solutions	89.6		110.6		45.9
Corporate	8.0		1.8		7.5
Total capital expenditures	$	130.9	$	152.6	$	136.5

Identifiable assets:	2022		2021		2020
High Performance Materials & Components	$	1,749.3	$	1,624.8	$	1,594.6
Advanced Alloys & Solutions	1,981.1		1,914.0		1,664.0
Corporate:
Deferred Taxes	4.7		6.3		5.1
Cash and cash equivalents and other	710.5		740.1		771.2
Total assets	$	4,445.6	$	4,285.2	$	4,034.9

Schedule of company assets by country

($ in millions)	2022		Percent of total		2021		Percent of total		2020		Percent of total
Total assets:
United States	$	3,942.7	89	%	$	3,587.0	84	%	$	3,356.8	83	%
China	321.1		7	%	406.4		9	%	325.5		8	%
United Kingdom	13.4		—	%	153.9		4	%	122.4		3	%
Other	168.4		4	%	137.9		3	%	230.2		6	%
Total Assets	$	4,445.6	100	%	$	4,285.2	100	%	$	4,034.9	100	%