Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Segment Reporting Information, by Segment

Segment activity is as follows (dollars in thousands):


	Packaging		Specialty Products		Total






















Three Months Ended March 31, 2026
Net sales	$	139,170	$	29,110	$	168,280
Cost of sales	(106,510)		(24,900)
Selling, general and administrative expenses	(18,100)		(1,370)
Other segment items (a)	(10)		20
Segment operating profit	$	14,550	$	2,860	$	17,410
Corporate (b)					(10,520)
Interest expense					(5,240)
Other income (expense), net					890
Income before income tax expense					$	2,540

Three Months Ended March 31, 2025
Net sales	$	127,570	$	24,890	$	152,460
Cost of sales	(96,110)		(23,520)
Selling, general and administrative expenses	(14,210)		(2,520)
Other segment items (a)	(10)		—
Segment operating profit (loss)	$	17,240	$	(1,150)	$	16,090
Corporate (c)					(8,940)
Interest expense					(4,520)
Other income (expense), net					(40)
Income before income tax expense					$	2,590

__________________________

(a) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets.

(b) Includes $1.4 million of realignment and severance costs and $1.2 million of system implementation costs.

(c) Includes $5.3 million gain on the sale of Arrow Engine, $4.7 million of realignment, severance and consulting costs, $0.9 million of system implementation costs and $0.3 million of mergers, acquisition, diligence and transaction costs.


	Three months ended March 31,
		2026		2025
Capital expenditures
Packaging		$	3,760	$	7,980

Specialty Products		1,430		1,060
Corporate		490		1,410
Total		$	5,680	$	10,450

Depreciation and amortization
Packaging		$	8,790	$	8,330

Specialty Products		730		820
Corporate		110		80
Total		$	9,630	$	9,230


	March 31, 2026		December 31, 2025
Total Assets
Packaging	$	861,290	$	855,080

Specialty Products	86,950		73,890
Corporate(a)	1,348,890		112,660
Total	$	2,297,130	$	1,041,630

(a) Corporate total assets as of March 31, 2026, includes $1,282.3 million of cash, primarily due to proceeds received on the sale of the Company's Aerospace segment and a $34.3 million asbestos-related insurance recovery asset. Corporate total assets as of December 31, 2025, includes a $53.9 million deferred tax asset as a result of the planned divestiture of Aerospace and a $34.7 million asbestos-related insurance recovery asset.