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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
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.
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:
 Three Months Ended
March 31,
 (dollars in millions)20242023
Net sales:  
Electronics
Assembly Solutions$167.5 $173.5 
Circuitry Solutions111.8 106.7 
Semiconductor Solutions69.9 59.4 
     Total Electronics349.2 339.6 
Industrial & Specialty
Industrial Solutions166.5 180.7 
Graphics Solutions37.0 34.9 
Energy Solutions22.3 19.2 
     Total Industrial & Specialty225.8 234.8 
Total net sales$575.0 $574.4 
Adjusted EBITDA:  
Electronics$83.9 $72.7 
Industrial & Specialty43.1 39.6 
Total Adjusted EBITDA$127.0 $112.3 
The following table reconciles "Net income" to Adjusted EBITDA:
 Three Months Ended
March 31,
 (dollars in millions)20242023
Net income$56.0 $43.0 
Add (subtract):
Income tax expense13.5 16.9 
Interest expense, net13.9 11.7 
Depreciation expense10.1 9.5 
Amortization expense30.2 29.6 
EBITDA123.7 110.7 
Adjustments to reconcile to Adjusted EBITDA:
Restructuring expense2.3 2.3 
Acquisition and integration expense1.7 3.9 
Foreign exchange gains on intercompany loans(6.8)(5.6)
Kuprion Acquisition research and development charge3.9 — 
Other, net2.2 1.0 
Adjusted EBITDA$127.0 $112.3