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Segment Information
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's operations are organized into two reportable segments: Electronics and Industrial & Specialty. These segments represent businesses for which separate financial information is utilized by the chief operating decision maker (or CODM) for purposes of allocating resources and evaluating performance.
The Company allocates resources and evaluates the performance of its operating segments based primarily on net sales and Adjusted EBITDA. Adjusted EBITDA for each segment is defined as EBITDA, as further adjusted for additional items included in earnings which the Company believes are not representative or indicative of each of its segments' ongoing business or are considered to be associated with its capital structure. Adjusted EBITDA for each segment also includes an allocation of corporate costs, such as compensation expense and professional fees.
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)2021202020212020
Net sales:    
Electronics  
Assembly Solutions$212.6 $155.0 $606.7 $393.2 
Circuitry Solutions118.9 101.0 338.7 286.7 
Semiconductor Solutions67.1 50.8 188.6 149.0 
     Total Electronics398.6 306.8 1,134.0 828.9 
Industrial & Specialty
Industrial Solutions161.5 121.0 456.0 330.5 
Graphics Solutions41.0 33.6 115.7 106.8 
Energy Solutions15.1 16.1 47.2 50.9 
     Total Industrial & Specialty217.6 170.7 618.9 488.2 
Total net sales$616.2 $477.5 $1,752.9 $1,317.1 
Adjusted EBITDA:    
Electronics$92.1 $72.0 $275.3 $196.5 
Industrial & Specialty39.4 29.8 127.2 100.2 
Total Adjusted EBITDA$131.5 $101.8 $402.5 $296.7 
The following table reconciles "Net income attributable to common stockholders" to Adjusted EBITDA:
 Three Months Ended September 30,Nine Months Ended September 30,
 (dollars in millions)2021202020212020
Net income attributable to common stockholders$36.0 $36.0 $199.4 $45.8 
Add (subtract):
Net loss attributable to the non-controlling interests(0.1)— (0.1)— 
Loss (income) from discontinued operations, net of tax— 0.2 (2.0)1.1 
Income tax expense (benefit)17.3 (47.3)16.5 (37.4)
Interest expense, net13.8 17.1 39.6 50.7 
Depreciation expense9.6 10.7 28.7 31.7 
Amortization expense31.9 30.5 92.0 88.8 
EBITDA108.5 47.2 374.1 180.7 
Adjustments to reconcile to Adjusted EBITDA:
Amortization of inventory step-up4.3 1.0 6.5 2.4 
Restructuring expense1.3 1.3 5.2 5.6 
Acquisition and integration expense7.1 0.4 10.3 8.3 
Foreign exchange loss (gain) on internal debt0.6 2.3 (22.8)43.2 
Debt refinancing costs— 45.7 — 45.7 
Adjustment of stock compensation previously not probable (Note 8)7.6 — 21.2 — 
Other, net2.1 3.9 8.0 10.8 
Adjusted EBITDA$131.5 $101.8 $402.5 $296.7