XML 44 R32.htm IDEA: XBRL DOCUMENT v3.25.3
Operations by Industry Segment and Geographic Area (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Asset information for the Company's reportable segments is set forth below:

September 30, 2025December 31, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotalInfrastructure SolutionsMaterials SolutionsTotal
Reportable segment assets$1,156.4 $1,144.8 $2,301.2 $1,095.8 $772.3 $1,868.1 
Revenue, significant expense and capital expenditure information for the Company's reportable segments is set forth below:

Three Months Ended September 30, 2025Three Months Ended September 30, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotalInfrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$193.2 $156.9 $350.1 $165.0 $126.4 $291.4 
Intersegment revenues7.2 1.5 8.7 25.7 1.4 27.1 
Total revenues - reportable segments$200.4 $158.4 $358.8 $190.7 $127.8 $318.5 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$86.4 $63.4 $149.8 $80.2 $67.3 $147.5 
Parts26.0 29.7 55.7 24.2 21.1 45.3 
Other26.0 19.1 45.1 36.9 8.5 45.4 
General and administrative12.8 13.1 25.9 12.4 4.8 17.2 
Sales and marketing10.2 10.1 20.3 9.8 6.6 16.4 
Quality costs (1)
5.4 2.9 8.3 4.2 2.9 7.1 
Research and development4.0 2.3 6.3 3.6 2.0 5.6 
Inventory period costs (2)
6.0 2.4 8.4 3.8 0.5 4.3 
Other segment items (3)
(0.3)— (0.3)— (0.4)(0.4)
Reportable Segment Operating Adjusted EBITDA$23.9 $15.4 $39.3 $15.6 $14.5 $30.1 
Reportable segment capital expenditures$2.7 $1.5 $4.2 $2.0 $0.6 $2.6 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
(in millions)Infrastructure SolutionsMaterials SolutionsTotalInfrastructure SolutionsMaterials SolutionsTotal
Reportable segment revenues:
Revenues from external customers$633.8 $376.0 $1,009.8 $588.6 $357.5 $946.1 
Intersegment revenues25.4 4.5 29.9 41.4 2.8 44.2 
Total revenues - reportable segments$659.2 $380.5 $1,039.7 $630.0 $360.3 $990.3 
Significant reportable segment expenses:
Manufacturing operation costs:
Equipment$279.9 $170.3 $450.2 $281.1 $180.0 $461.1 
Parts90.4 67.7 158.1 92.1 60.9 153.0 
Other72.5 38.1 110.6 82.6 27.5 110.1 
General and administrative41.0 28.9 69.9 40.7 20.9 61.6 
Sales and marketing32.7 23.1 55.8 34.2 20.8 55.0 
Quality costs (1)
18.3 7.8 26.1 11.0 9.3 20.3 
Research and development12.6 6.5 19.1 11.7 5.8 17.5 
Inventory period costs (2)
13.1 5.4 18.5 8.2 5.7 13.9 
Other segment items (3)
(0.3)(2.1)(2.4)— (0.6)(0.6)
Reportable Segment Operating Adjusted EBITDA$99.0 $34.8 $133.8 $68.4 $30.0 $98.4 
Reportable segment capital expenditures$8.6 $3.1 $11.7 $11.9 $3.9 $15.8 
(1) Quality costs related to repair or other remediation expenses incurred for corrective action on product failures covered by warranties or voluntarily for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of the Company's products and maintain the goodwill of customers.
(2) Inventory period costs primarily relate to inventory reserves and adjustments and net scrap sales.
(3) Other segment items consists of foreign exchange gains and losses, investment income and loss and other income and expense amounts that are included in Segment Operating Adjusted EBITDA that are not considered to be significant segment expenses.
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The reconciliation of Reportable Segment Operating Adjusted EBITDA to total "(Loss) income before income taxes" is set forth below:

Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2025202420252024
Segment Operating Adjusted EBITDA - reportable segments$39.3 $30.1 $133.8 $98.4 
Corporate and Other expenses(12.2)(12.7)(37.8)(34.5)
Transformation program(5.2)(8.4)(15.5)(25.8)
Restructuring and other related charges0.2 (8.4)0.2 (9.4)
Goodwill impairment— — $— (20.2)
Gain on sale of property and equipment, net— — 0.1 1.1 
Transaction costs(8.3)— (10.5)— 
Interest expense, net(6.6)(2.1)(8.5)(6.9)
Depreciation and amortization(12.3)(7.0)(24.7)(20.1)
Net income (loss) attributable to noncontrolling interest— — 0.1 (0.1)
(Loss) income before income taxes$(5.1)$(8.5)$37.2 $(17.5)
Schedule of Sales into Major Geographic Regions
"Net sales" into major geographic regions, attributable to the shipping location or the location where service was performed, were as follows:

Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2025202420252024
United States$280.4 $211.2 $816.2 $726.5 
Canada16.6 10.9 49.6 52.5 
Australia8.3 25.0 27.5 44.3 
Africa10.9 9.1 27.4 30.3 
Brazil8.8 8.5 25.1 19.9 
Europe7.0 7.5 22.0 24.2 
Asia8.9 2.7 19.3 10.3 
South America (Excluding Brazil)4.8 3.8 11.2 12.0 
Mexico2.9 11.2 7.4 22.1 
Central America (Excluding Mexico)0.6 1.1 1.2 2.5 
Other0.9 0.4 2.9 1.5 
Total foreign69.7 80.2 193.6 219.6 
Total net sales$350.1 $291.4 $1,009.8 $946.1