Financial Information by Segment (Tables)

9 Months Ended

Sep. 30, 2022

Segment operating results for the three months ended September 30, 2022 and 2021 are as follows:


	Rubber		Specialties		Corporate		Total Segments
	(In millions)
2022
Net sales from external customers	$	373.5	$	169.6	$	—	$	543.1
Adjusted EBITDA	49.4		31.1		—		80.5
Corporate charges	—		—		(1.6)		(1.6)
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment	(15.6)		(9.6)		—		(25.2)

Excluding equity in earnings of affiliated companies, net of tax	(0.1)		—		—		(0.1)
Interest and other financial expense, net					(10.2)		(10.2)

Income before earnings in affiliated companies and income taxes							$	43.4

2021
Net sales from external customers	$	242.8	$	150.2	$	—	$	393.0
Adjusted EBITDA	27.4		39.0		—		66.4
Corporate charges	—		—		(2.2)		(2.2)
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment	(13.3)		(10.5)		—		(23.8)

Excluding equity in earnings of affiliated companies, net of tax	(0.1)		—		—		(0.1)
Interest and other financial expense, net					(11.5)		(11.5)
Reclassification of actuarial losses from AOCI					(1.2)		(1.2)
Income before earnings in affiliated companies and income taxes							$	27.6

Segment reconciliation for the nine months ended September 30, 2022 and 2021:


	Rubber		Specialties		Corporate		Total Segments
	(In millions)
2022
Net sales from external customers	$	1,039.7	$	529.1	$	—	$	1,568.8
Adjusted EBITDA	128.1		119.0		—		247.1
Corporate charges	—		—		(5.8)		(5.8)
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment	(49.1)		(30.8)		—		(79.9)

Excluding equity in earnings of affiliated companies, net of tax	(0.3)		—		—		(0.3)
Interest and other financial expense, net					(29.1)		(29.1)

Income before earnings in affiliated companies and income taxes							$	132.0

2021
Net sales from external customers	$	703.5	$	450.6	$	—	$	1,154.1
Adjusted EBITDA	98.0		118.1		—		216.1
Corporate charges	—		—		(8.3)		(8.3)
Depreciation and amortization of intangible assets, right of use assets, and property, plant and equipment	(41.7)		(32.9)		—		(74.6)
Gain related to litigation settlement					82.9		82.9
Excluding equity in earnings of affiliated companies, net of tax	(0.5)		—		—		(0.5)
Interest and other financial expense, net					(30.4)		(30.4)
Reclassification of actuarial losses from AOCI					(3.6)		(3.6)
Income before earnings in affiliated companies and income taxes							$	181.6

Expense from operations before income taxes and finance costs of the segment “Corporate” comprises the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)


Long term incentive plan	$	1.9	$	1.3	$	5.0	$	3.3





Other non-operating	(0.3)		0.9		0.8		5.0
Corporate Charges	$	1.6	$	2.2	$	5.8	$	8.3