Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

The following table presents sales by product category for the technical products business:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Performance Materials	50	%	57	%	55	%	58	%
Filtration	50	%	43	%	45	%	42	%
Total	100	%	100	%	100	%	100	%

The following table presents sales by product category for the fine paper and packaging business:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Graphic Imaging	75	%	80	%	74	%	79	%
Packaging	25	%	20	%	26	%	21	%
Total	100	%	100	%	100	%	100	%

Schedule of net sales and operating income (loss) for each of the Company's business segment

The following tables summarize the net sales and operating income (loss) for each of the Company’s business segments:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales
Technical Products	$	123.5	$	131.7	$	371.8	$	418.1
Fine Paper and Packaging	67.2		100.1		213.9		306.8
Consolidated	$	190.7	$	231.8	$	585.7	$	724.9


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020 (a)		2019 (c)		2020 (b)		2019 (d)
Operating income (loss)
Technical Products	$	12.3	$	9.5	$	(18.8)	$	33.3
Fine Paper and Packaging	6.0		13.2		16.7		38.0
Unallocated corporate costs	(4.4)		(3.7)		(18.9)		(15.1)
Consolidated	$	13.9	$	19.0	$	(21.0)	$	56.2

(a) Operating income (loss) for the three months ended September 30, 2020 included (1) $0.6 million of incremental and direct costs of responding to COVID-19 ($0.2 million within Technical Products and $0.4 million within Fine Paper and Packaging ); and (2) $1.4 million of other restructuring and non-routine costs ($0.1 million within Technical Products, $0.3 million within Fine Paper and Packaging, and $1.0 million within Unallocated corporate costs). Refer to Note 1, "Background and Basis of Presentation" for further discussion.

(b) Operating income for the nine months ended September 30, 2020 included (1) $55.3 million of asset restructuring and impairment costs ($51.6 million within Technical Products and $3.7 million within Fine Paper and Packaging) related to the impairment of certain long-lived assets, as well as the idling of a paper machine and other smaller assets and related severance costs; (2) $1.9 million of loss on debt extinguishment ($0.1 million within Technical Products and $1.8 million within Unallocated corporate costs) related to the redemption of the 2021 Senior Notes and resizing of the Global Revolving Credit Facility; (3) $2.1 million of incremental and direct costs of responding to COVID-19 ($0.9 million within Technical Products and $1.0 million within Fine Paper and Packaging and $0.2 million within Unallocated corporate costs); (4) $4.1 million of other restructuring and non-routine costs ($0.5 million within Technical Products, $2.0 million within Fine Paper and Packaging, and $1.6 million within Unallocated corporate costs); and (5) $1.1 million of due diligence and transaction costs of a terminated acquisition attempt within Unallocated corporate costs. Refer to Note 10, "Asset Restructuring and Impairment Costs", Note 5, "Debt", and Note 1, "Background and Basis of Presentation" for further discussion.

(c) Operating income (loss) for the three months ended September 30, 2019 included $2.4 million of accelerated depreciation and spare parts inventory reserves related to an idled paper machine within Fine Paper and Packaging, and a $0.1 million of SERP settlement loss within Unallocated corporate costs.

(d) Operating income (loss) for the nine months ended September 30, 2019 included $4.4 million of accelerated depreciation and spare parts inventory reserves related to an idled paper machine within Fine Paper and Packaging, $1.5 million of integration and restructuring costs, and a $0.1 million of SERP settlement loss within Unallocated corporate costs.

Revenue from external customers by geographic areas

The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
United States	65	%	72	%	68	%	72	%
Germany	29	%	21	%	25	%	21	%
Rest of Europe	6	%	7	%	7	%	7	%
Total	100	%	100	%	100	%	100	%