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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2023
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 for purposes of allocating resources and evaluating performance. See Note 1, Background and Basis of Presentation, to the Consolidated Financial Statements for information about the transfer of the Company's Films business from the Industrial & Specialty segment to the Electronics segment and the transfer of certain product lines within the Electronics segment in 2023 and 2022.
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 the Company's 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:
Year Ended December 31,
 (dollars in millions)202320222021
Net Sales:   
Electronics
Assembly Solutions$726.1 $819.5 $795.3 
Circuitry Solutions424.3 503.5 511.3 
Semiconductor Solutions264.3 288.2 283.5 
Total Electronics1,414.7 1,611.2 1,590.1 
Industrial & Specialty
Industrial Solutions699.0 728.3 599.7 
Graphics Solutions142.7 143.0 147.9 
Energy Solutions76.8 66.9 62.1 
Total Industrial & Specialty918.5 938.2 809.7 
Total net sales$2,333.2 $2,549.4 $2,399.8 
Adjusted EBITDA:   
Electronics$317.7 $360.7 $370.6 
Industrial & Specialty164.6 165.9 154.2 
Total Adjusted EBITDA$482.3 $526.6 $524.8 
The following table reconciles "Net income" to Adjusted EBITDA:
Year Ended December 31,
 (dollars in millions)202320222021
Net income$118.2 $188.0 $203.7 
Add (subtract):
Income from discontinued operations, net of tax(2.1)(1.8)(0.3)
Income tax expense13.0 85.8 48.3 
Interest expense, net49.3 51.2 54.2 
Depreciation expense42.6 41.6 39.7 
Amortization expense124.1 119.7 124.2 
EBITDA345.1 484.5 469.8 
Adjustments to reconcile to Adjusted EBITDA:   
Restructuring expense11.4 9.5 11.7 
Inventory step-up3.3 0.5 12.9 
Acquisition and integration expense16.8 10.6 14.2 
Foreign exchange (gain) loss on internal debt(9.7)7.8 (16.6)
Debt refinancing costs7.8 — — 
Goodwill impairment80.0 — — 
Kuprion Acquisition research and development charge15.7 — — 
Adjustment of stock compensation previously not probable (Note 8)— 1.3 23.9 
Other, net11.9 12.4 8.9 
Adjusted EBITDA$482.3 $526.6 $524.8 
Net Sales by Major Country
A major country is defined as one in which total net sales represented 10% or more of the Company's total consolidated net sales in any of the years presented.
Year Ended December 31,
 (dollars in millions)202320222021
United States$576.2 $645.3 $585.0 
China418.9 498.1 486.5 
Other countries1,338.1 1,406.0 1,328.3 
Total$2,333.2 $2,549.4 $2,399.8 
Long-Lived Assets by Major Country
A major country is defined as one with long-lived assets greater than 10% of the Company's total long-lived assets, net in any of the years presented. Long-lived assets represent property, plant and equipment, net.
December 31,
 (dollars in millions)20232022
United States$94.7 $89.7 
China39.4 42.3 
Other countries162.8 145.2 
Total$296.9 $277.2 
Assets by Reportable Segment
Total assets by reportable segment at December 31, 2023 and 2022 are not presented as they are not utilized for purposes of allocating resources and evaluating performance.