Segment Results

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Results

NOTE 2. SEGMENT RESULTS

Our operating segments are as follows: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Our product-based Mineral Fiber and Architectural Specialties segment net sales represent the product-based group offerings we sell to external customers.

Our Chief Operating Decision Maker (“CODM”) is our President and Chief Executive Officer. Segment operating income (loss) is the measure of segment profit or loss reviewed by the CODM. The following tables are presented at the level of disaggregation regularly reviewed by the CODM to evaluate operating performance and allocate resources to segments.

For the three months ended March 31, 2025	Mineral Fiber			Architectural Specialties		Unallocated Corporate			Total
Net sales to external customers	$	245.1		$	137.6	$	-		$	382.7
Cost of goods sold		148.0			84.4		0.4			232.8
Gross profit (loss)		97.1			53.2		(0.4	)		149.9
SG&A expenses		39.4			38.4		0.2			78.0
Equity (earnings) loss from unconsolidated affiliates, net		(26.8	)		-		0.2			(26.6	)
Segment operating income (loss)	$	84.5		$	14.8	$	(0.8	)	$	98.5
Depreciation and amortization		20.8			8.5		-			29.3
Purchases of property, plant and equipment		14.6			4.5		-			19.1

For the three months ended March 31, 2024	Mineral Fiber			Architectural Specialties		Unallocated Corporate			Total
Net sales to external customers	$	239.6		$	86.7	$	-		$	326.3
Cost of goods sold		145.7			55.9		0.4			202.0
Gross profit (loss)		93.9			30.8		(0.4	)		124.3
SG&A expenses		42.1			23.1		0.2			65.4
Equity (earnings) loss from unconsolidated affiliates, net		(27.4	)		-		0.2			(27.2	)
Segment operating income (loss)	$	79.2		$	7.7	$	(0.8	)	$	86.1
Depreciation and amortization		19.9			4.4		-			24.3
Purchases of property, plant and equipment		11.6			3.1		-			14.7

The following reconciles our total segment operating income to earnings before income taxes. These items are only measured and managed on a consolidated basis:

	Three Months Ended
	March 31,
	2025			2024
Total segment operating income	$	98.5		$	86.1
Interest expense		8.5			9.0
Other non-operating (income), net		(0.7	)		(3.1	)
Earnings before income taxes	$	90.7		$	80.2

As of March 31, 2025	Mineral Fiber		Architectural Specialties		Unallocated Corporate		Total
Segment assets	$	1,080.2	$	596.7	$	177.5	$	1,854.4
Investment in unconsolidated affiliates		24.6		-		4.3		28.9
As of December 31,2024	Mineral Fiber		Architectural Specialties		Unallocated Corporate		Total
Segment assets	$	1,063.8	$	602.2	$	176.7	$	1,842.7
Investment in unconsolidated affiliates		22.6		-		4.6		27.2