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Segments (Tables)
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Information by Reportable Segment

The following table shows information by reportable segment for the three months ended March 31, 2024 and 2023:

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Net Sales

 

 

 

 

 

 

Americas

 

$

283.2

 

 

$

264.4

 

EURAF

 

 

143.0

 

 

 

178.2

 

MEAP

 

 

68.9

 

 

 

65.7

 

Total

 

$

495.1

 

 

$

508.3

 

Segment Operating Income (Loss)

 

 

 

 

 

 

Americas

 

$

29.5

 

 

$

28.5

 

EURAF

 

 

(11.8

)

 

 

3.6

 

MEAP

 

 

8.2

 

 

 

8.6

 

Total

 

$

25.9

 

 

$

40.7

 

Depreciation

 

 

 

 

 

 

Americas

 

$

7.3

 

 

$

7.2

 

EURAF

 

 

5.9

 

 

 

5.4

 

MEAP

 

 

0.8

 

 

 

0.6

 

Corporate

 

 

0.7

 

 

 

0.7

 

Total

 

$

14.7

 

 

$

13.9

 

Capital Expenditures

 

 

 

 

 

 

Americas

 

$

4.2

 

 

$

4.4

 

EURAF

 

 

7.2

 

 

 

4.7

 

MEAP

 

 

0.8

 

 

 

1.5

 

Corporate

 

 

 

 

 

 

Total

 

$

12.2

 

 

$

10.6

 

Schedule of Reconciliation of the Company's Segment Operating Income

A reconciliation of the Company’s segment operating income to operating income in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 are summarized as follows:

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Segment operating income

 

$

25.9

 

 

$

40.7

 

Unallocated corporate expenses

 

 

(10.7

)

 

 

(10.4

)

Unallocated restructuring expense

 

 

 

 

 

(0.1

)

Total operating income

 

$

15.2

 

 

$

30.2

 

Schedule of Net Sales by Geographic Area

Net sales by geographic area for the three months ended March 31, 2024 and 2023 are summarized as follows:

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

United States

 

$

249.2

 

 

$

213.8

 

Europe

 

 

138.2

 

 

 

174.4

 

Other

 

 

107.7

 

 

 

120.1

 

Total net sales

 

$

495.1

 

 

$

508.3

 

Schedule of Net Sales By Product

New machine and non-new machine sales for the three months ended March 31, 2024 and 2023 are summarized as follows:

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

New machine sales

 

$

349.9

 

 

$

357.3

 

Non-new machine sales

 

 

145.2

 

 

 

151.0

 

Total net sales

 

$

495.1

 

 

$

508.3