Segment Information (Tables) - Madison Industries IAQ Solutions Corporation

3 Months Ended

Mar. 31, 2026

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment

Segment results for the three months ended March 31, 2026 and 2025 are as follows:

	Total Net Sales				Intersegment Sales				External Net Sales
	2026		2025		2026		2025		2026		2025
Commercial	$	609.8	$	493.6	$	0.1	$	—	$	609.7	$	493.6
Residential	315.6		197.5		1.6		0.7		314.0		196.8
Eliminations	(1.7)		(0.7)		(1.7)		(0.7)		—		—
Total net sales	$	923.7	$	690.4	$	—	$	—	$	923.7	$	690.4

	2026		2025
Commercial net sales	$	609.8	$	493.6
Segment cost of goods sold(1)	(380.1)		(308.8)
Segment selling, general and administrative expenses	(75.1)		(65.6)
Segment EBITDA add-backs(2)	6.4		9.2
Commercial adjusted EBITDA	161.0		128.4
Residential net sales	$	315.6	$	197.5
Segment cost of goods sold(1)	(193.4)		(128.0)
Segment selling, general and administrative expenses	(49.4)		(30.6)
Segment EBITDA add-backs(2)	6.5		4.3
Residential adjusted EBITDA	79.3		43.2
Total segment adjusted EBITDA	240.3		171.6
Central and other costs(3)	(7.6)		0.4
Allocated Madison Industries costs(4)	(10.7)		(4.5)
Segment EBITDA add-backs (excluding depreciation)	—		(3.4)
Depreciation	(13.0)		(10.1)
Intangible asset amortization	(40.9)		(25.2)
Restructuring expenses	(2.3)		(0.1)
Equity appreciation rights expense	(10.4)		(5.2)
Transaction related expenses	(4.0)		(0.8)
Interest and financing expenses	(90.7)		(65.8)
Other income (expense)	(0.4)		3.0
Income (loss) from continuing operations before income taxes	$	60.3	$	59.9

(1)Exclusive of intangible amortization shown separately

(2)Segment EBITDA add-backs primarily include adjustments to remove depreciation and non-recurring items in deriving adjusted EBITDA. For the three months ended March 31, 2026 and 2025 EBITDA add-backs for depreciation were $6.5 and $6.2, respectively, for the Commercial Segment, and $6.5 and $3.9, respectively, for the Residential Segment.

(3)Primarily includes central selling, general and administrative expenses and gains and losses on foreign currency. For the three months ended March 31, 2025, this includes a $3.9 gain on legal settlement.

(4)Direct and indirect support from Holdings for certain central activities including, but not limited to consolidation accounting, tax services, legal, and other Holdings central and infrastructure related services

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following is a summary of net sales by geographic area, based upon the location of the business unit:

	Three months ended March 31,
	2026		2025
U.S	$	819.7	$	578.7
Non-U.S
Americas	70.8		78.8
Europe	19.5		18.1
Asia Pacific	13.7		14.8
Total net sales	$	923.7	$	690.4

The following is a summary of property, plant and equipment by geographic area:

	March 31, 2026		December 31, 2025
U.S	$	307.7	$	309.7
Non-U.S
Americas	47.4		49.1
Europe	3.8		3.9
Asia Pacific	9.0		9.0
Total property, plant and equipment	$	367.9	$	371.7