Business Segments (Tables)

3 Months Ended

Mar. 29, 2026

Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions):


	Quarter ended March 29, 2026						Quarter ended March 30, 2025
	HPMC		AA&S		Total		HPMC		AA&S		Total
Sales to external customers	$	614.3	$	537.2	$	1,151.5	$	584.1	$	560.3	$	1,144.4
Intersegment sales	41.1		99.6		140.7		59.9		57.4		117.3
Total sales	655.4		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 overhead	15.6		16.3				15.8		16.1
Other segment items(2)	486.9		523.5				497.2		518.2
Segment EBITDA	152.9		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.

Schedule of Other Financial Information By Segment

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


	Quarter ended
(In millions)	March 29, 2026		March 30, 2025
Depreciation and amortization:
High Performance Materials & Components	$	19.6	$	19.7
Advanced Alloys & Solutions	23.7		19.5
Other	1.7		1.6
Total depreciation and amortization	$	45.0	$	40.8
Capital expenditures:
High Performance Materials & Components	$	28.4	$	29.4
Advanced Alloys & Solutions	24.8		23.0
Corporate	2.0		0.9
Total capital expenditures	$	55.2	$	53.3



Identifiable assets:	March 29, 2026		December 28, 2025
High Performance Materials & Components	$	2,267.1	$	2,368.6
Advanced Alloys & Solutions	2,493.0		2,249.1
Corporate:
Deferred Taxes	35.6		33.5
Cash and cash equivalents and other	438.4		448.4
Total assets	$	5,234.1	$	5,099.6

Schedule of Company Assets By Country


($ in millions)	March 29, 2026		Percent of total		December 28, 2025		Percent of total
Total assets:
United States	$	4,724.3	90	%	$	4,544.4	89	%
China	294.1		6	%	321.8		6	%
Other	215.7		4	%	233.4		5	%
Total Assets	$	5,234.1	100	%	$	5,099.6	100	%