Segments

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segments

Segments

The Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. The chief operating decision maker is the Company's Chief Executive Officer. For purposes of measuring business segment performance, the chief operating decision maker utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or corporate costs, which include but are not limited to executive compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by adjusting for corporate costs; other components of pension and other postretirement benefits income, net; and interest expense, net.

Results by business segment were as follows:

	Supply Technologies		Assembly Components		Engineered Products		Corporate		Total
	(In millions)
	Three Months Ended March 31, 2025
Net sales	$	187.8	$	96.9	$	120.7	$	—	$	405.4
Cost of sales	153.2		85.7		98.4		—		337.3
Gross profit	34.6		11.2		22.3		—		68.1
Selling, general and administrative expenses	16.8		5.7		17.7		8.0		48.2
Restructuring and other special charges	—		0.2		0.8		—		1.0
Operating income (loss)	17.8		5.3		3.8		(8.0)		18.9
Other components of pension and other postretirement benefits income, net									1.8
Interest expense, net									(11.0)
Income from continuing operations before income taxes									$	9.7
	Three Months Ended March 31, 2024
Net sales	$	196.9	$	107.2	$	113.5	$	—	$	417.6
Cost of sales	161.1		93.5		91.6		—		346.2
Gross profit	35.8		13.7		21.9		—		71.4
Selling, general and administrative expenses	16.3		5.1		18.1		7.6		47.1
Restructuring and other special charges	—		—		0.3		—		0.3
Operating income (loss)	19.5		8.6		3.5		(7.6)		24.0
Other components of pension and other postretirement benefits income, net									1.3
Interest expense, net									(11.9)
Income from continuing operations before income taxes									$	13.4

	Three Months Ended March 31,
	2025		2024
Capital expenditures:
Supply Technologies	$	4.7	$	1.3
Assembly Components	1.4		1.8
Engineered Products	3.1		2.0
Corporate	0.3		0.7
	$	9.5	$	5.8
Depreciation and amortization expense:
Supply Technologies	$	1.6	$	1.7
Assembly Components	3.4		3.4
Engineered Products	3.1		3.2
Corporate	0.2		0.1
	$	8.3	$	8.4
	March 31, 2025		December 31, 2024
Identifiable assets:
Supply Technologies	$	489.7	$	465.6
Assembly Components	300.9		284.3
Engineered Products	467.6		468.8
Corporate	153.6		146.4
	$	1,411.8	$	1,365.1