Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Disaggregation of revenue

The following table presents sales by product category for the Technical Products businesses:

	Three Months Ended March 31,
	2022		2021
Filtration	38	%	52	%
Industrial solutions	31	%	38	%
Specialty coatings	31	%	10	%
Total	100	%	100	%

The following table presents sales by product category for the Fine Paper and Packaging businesses:

	Three Months Ended March 31,
	2022		2021
Commercial	53	%	55	%
Consumer and packaging	47	%	45	%
Total	100	%	100	%

Schedule of net sales, operating income, and total assets for each of the Company's business segment

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

	Three Months Ended March 31,
	2022		2021
Net sales
Technical Products	$	185.6	$	145.2
Fine Paper and Packaging	99.2		81.8
Consolidated	$	284.8	$	227.0

	Three Months Ended March 31,
	2022 (a)		2021 (b)
Operating income (loss)
Technical Products	$	12.1	$	19.2
Fine Paper and Packaging	11.9		12.7
Unallocated Corporate	(11.8)		(18.3)
Consolidated	$	12.2	$	13.6

(a)    Operating income for the three months ended March 31, 2022 included (1) $4.9 million of due diligence and transaction costs related to the pending merger with SWM (see Note 12, "Merger Agreement"), (2) $0.6 million of asset restructuring costs related to the Appleton Mill closure (see Note 10, "Assets Held for Sale and Asset Restructuring Costs"); (3) $0.6 million of incremental and direct costs of responding to COVID-19 ($0.5 million in Unallocated Corporate and $0.1 million in Fine Paper and Packaging); and (4) $0.4 million of integration costs related to Itasa ($0.2 million in Technical Products and $0.2 million in Unallocated Corporate) (see Note 4, "Acquisition").

(b)    Operating income for the three months ended March 31, 2021 included (1) $12.0 million of acquisition costs for Itasa (see Note 4, "Acquisition") within Unallocated corporate costs; (2) $0.5 million of incremental and direct costs of responding to COVID-19 ($0.1 million within Technical Products, $0.3 million within Fine Paper and Packaging, and $0.1 million within Unallocated corporate costs); and (3) $0.0 million of other restructuring and non-routine costs ($0.2 million within Technical Products and $(0.2) million within Fine Paper and Packaging).

	March 31, 2022		December 31, 2021
Total Assets (a)
Technical Products	$	802.9	$	800.7
Fine Paper and Packaging	246.9		228.4
Corporate and other (b)	56.0		52.6
Consolidated	$	1,105.8	$	1,081.7

(a) Segment identifiable assets are those that are directly used in the segments operations.

(b) Corporate assets are primarily deferred income taxes, lease ROU assets and cash.

Revenue from external customers by geographic areas

The following table represents a disaggregation of revenue from contracts as a percentage of total revenue with customers by location of the selling entities for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022		2021
North America	59	%	64	%
Germany	24	%	30	%
Spain	11	%	—	%
Rest of the Europe	6	%	6	%
Total	100	%	100	%