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Business Segments
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company operates under two business segments: HPMC and AA&S. ATI’s Chief Operating Decision Maker (CODM) is the Chief Executive Officer. Segment EBITDA, the Company’s segment operating measure, is used by the CODM to assess segment operating performance and to determine the allocation of resources. Segment EBITDA as a percentage of segment revenues is utilized to assess the profitability of each segment and whether the Company’s strategies are resulting in margin expansion and expected operating performance improvements. The measure of segment EBITDA excludes net interest expense, income taxes, depreciation and amortization, goodwill impairment charges, debt extinguishment charges, corporate expenses, closed operations and other income (expense), restructuring and other credits/charges, gains or losses on the sale of accounts receivables, strike related costs, long-lived asset impairments, pension remeasurement gains and losses, other postretirement/pension curtailment and settlement gains and losses, and gains or losses on sales of businesses. Management believes segment EBITDA, as defined, provides an appropriate measure of controllable operating results at the business segment level.
Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions):
Quarter ended March 29, 2026Quarter ended March 30, 2025
 HPMCAA&STotalHPMCAA&STotal
Sales to external customers$614.3 $537.2 $1,151.5 $584.1 $560.3 $1,144.4 
Intersegment sales41.1 99.6 140.7 59.9 57.4 117.3 
Total sales655.4 636.8 1,292.2 644.0 617.7 1,261.7 
Reconciliation of sales
Elimination of intersegment sales(140.7)(117.3)
Total consolidated sales$1,151.5 $1,144.4 
Less(1):
Allocated corporate overhead15.6 16.3 15.8 16.1 
Other segment items(2)
486.9 523.5 497.2 518.2 
Segment EBITDA152.9 97.0 249.9 131.0 83.4 214.4 
Reconciliation of segment EBITDA
Corporate expenses(17.0)(17.4)
Closed operations and other income(1.2)(2.4)
Depreciation & amortization(45.0)(40.8)
Interest expense, net(23.7)(23.0)
Restructuring and other charges(26.4)(5.6)
Loss on sales of businesses— (3.7)
Income before taxes$136.6 $121.5 
(1) The CODM is regularly provided with allocated corporate overhead and segment EBITDA, which is used to assess operating performance. Therefore, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown.
(2) Other segment items for each reportable segment include: cost of sales, general and administrative expenses, and gain/loss on asset sales. General & administrative expenses consist of non-manufacturing payroll and benefits, office expenses, professional service and legal expenses, occupancy expenses including rent and lease expense, and travel expense.
Total international sales for the quarter ended March 29, 2026 were $459.0 million and $500.6 million for the quarter ended March 30, 2025. Of these amounts, sales by operations in the U.S. to customers in other countries for the quarter ended March 29, 2026 were $375.3 million and $414.9 million for the quarter ended March 30, 2025.
Restructuring and other charges of $26.4 million for the quarter ended March 29, 2026 include $11.1 million of start-up and transaction-related costs and $1.1 million of restructuring-related impairment costs, which are primarily included within cost of sales on the consolidated statements of operations, and $7.0 million of restructuring-related severance and impairment costs, $4.8 million of transformation-related costs, and $2.4 million of losses on the sale of accounts receivable, which are included within selling and administrative expenses on the consolidated statements of operations.
Restructuring and other charges of $5.6 million for the quarter ended March 30, 2025 include $4.0 million of start-up and transaction-related costs, which are included within cost of sales on the consolidated statements of operations. These charges also include $1.6 million of losses on the sale of accounts receivables, which are included within selling and administrative expenses on the consolidated statements of operations.
Certain additional information regarding the Company’s business segments is presented below:
Quarter ended
(In millions)March 29, 2026March 30, 2025
Depreciation and amortization:
High Performance Materials & Components$19.6 $19.7 
Advanced Alloys & Solutions23.7 19.5 
Other1.7 1.6 
Total depreciation and amortization$45.0 $40.8 
Capital expenditures:
High Performance Materials & Components$28.4 $29.4 
Advanced Alloys & Solutions24.8 23.0 
Corporate2.0 0.9 
Total capital expenditures$55.2 $53.3 
Identifiable assets:March 29, 2026December 28, 2025
High Performance Materials & Components$2,267.1 $2,368.6 
Advanced Alloys & Solutions2,493.0 2,249.1 
Corporate:
Deferred Taxes35.6 33.5 
Cash and cash equivalents and other438.4 448.4 
Total assets$5,234.1 $5,099.6 
($ in millions)March 29, 2026Percent
of total		December 28, 2025Percent
of total
Total assets:
United States$4,724.3 90 %$4,544.4 89 %
China294.1 6 %321.8 6 %
Other215.7 4 %233.4 5 %
Total Assets$5,234.1 100 %$5,099.6 100 %