Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Summary of segment's results of operations

The following table summarizes financial information regarding each reportable segment’s results of operations, including disaggregated external net sales by product category:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
Net sales:
Electronics
Assembly Solutions	$	155.0	$	137.3	$	393.2	$	407.7
Circuitry Solutions	101.0		102.4		286.7		285.4
Semiconductor Solutions	50.8		40.3		149.0		120.7
Total Electronics	306.8		280.0		828.9		813.8
Industrial & Specialty
Industrial Solutions	121.0		125.5		330.5		396.0
Graphics Solutions	33.6		40.1		106.8		113.1
Energy Solutions	16.1		19.1		50.9		58.3
Total Industrial & Specialty	170.7		184.7		488.2		567.4
Total net sales	$	477.5	$	464.7	$	1,317.1	$	1,381.2

Adjusted EBITDA:
Electronics	$	72.0	$	73.6	$	196.5	$	190.4
Industrial & Specialty	29.8		41.8		100.2		124.1
Total Adjusted EBITDA	$	101.8	$	115.4	$	296.7	$	314.5

The following table reconciles "Net income (loss) attributable to common stockholders" to Adjusted EBITDA:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
Net income (loss) attributable to common stockholders	$	36.0	$	(6.9)	$	45.8	$	17.8
Add (subtract):
Net income attributable to the non-controlling interests	—		—		—		0.6
Loss (income) from discontinued operations, net of tax	0.2		0.9		1.1		(13.2)
Income tax (benefit) expense	(47.3)		57.2		(37.4)		40.0
Interest expense, net	17.1		17.4		50.7		73.7
Depreciation expense	10.7		10.1		31.7		30.8
Amortization expense	30.5		28.1		88.8		84.9
EBITDA	47.2		106.8		180.7		234.6
Adjustments to reconcile to Adjusted EBITDA:
Amortization of inventory step-up	1.0		—		2.4		—
Restructuring expense	1.3		6.8		5.6		12.6
Acquisition and integration costs	0.4		0.8		8.3		2.5
Foreign exchange loss on foreign denominated external and internal long-term debt	2.3		1.1		43.2		1.5
Debt refinancing costs	45.7		—		45.7		61.0
Change in fair value of contingent consideration	—		0.5		—		3.4
Other, net	3.9		(0.6)		10.8		(1.1)
Adjusted EBITDA	$	101.8	$	115.4	$	296.7	$	314.5