Operating Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Reportable Segment Information

Our contract assets by operating segment as of December 31, 2024 and 2023, were as follows:

(Dollars in millions)	2024		2023
Advanced Electronics Solutions	$	18.9	$	41.4
Elastomeric Material Solutions	0.7		0.4
Other	4.1		3.4
Total contract assets	$	23.7	$	45.2

The following table presents a disaggregation of revenue from contracts with customers and other pertinent financial information, for the periods indicated; inter-segment sales have been eliminated from the net sales data:

(Dollars in millions)	Advanced Electronics Solutions		Elastomeric Material Solutions		Other		Total
December 31, 2024
Net sales - recognized over time	$	169.4	$	5.3	$	16.5	$	191.2
Net sales - recognized at a point in time	$	282.8	$	355.6	$	0.5	$	638.9
Total net sales	$	452.2	$	360.9	$	17.0	$	830.1
Cost of sales	$	319.6	$	222.4	$	11.0	$	553.0
Gross margin	$	132.6	$	138.5	$	6.0	$	277.1
Inventories, net	$	77.8	$	62.8	$	1.7	$	142.3
Depreciation expense	$	17.5	$	8.7	$	0.7	$	26.9
December 31, 2023
Net sales - recognized over time	$	234.1	$	19.6	$	15.8	$	269.5
Net sales - recognized at a point in time	$	275.6	$	359.4	$	3.9	$	638.9
Total net sales	$	509.7	$	379.0	$	19.7	$	908.4
Cost of sales	$	352.1	$	237.0	$	12.2	$	601.3
Gross margin	$	157.6	$	142.0	$	7.5	$	307.1
Inventories, net	$	86.7	$	64.6	$	2.2	$	153.5
Depreciation expense	$	17.7	$	8.5	$	0.7	$	26.9
December 31, 2022
Net sales - recognized over time	$	227.0	$	15.9	$	16.4	$	259.3
Net sales - recognized at a point in time	$	303.2	$	404.1	$	4.6	$	711.9
Total net sales	$	530.2	$	420.0	$	21.0	$	971.2
Cost of sales	$	358.7	$	278.4	$	13.1	$	650.2
Gross margin	$	171.5	$	141.6	$	7.9	$	321.0
Inventories, net	$	97.3	$	81.7	$	3.4	$	182.4
Depreciation expense	$	16.6	$	7.8	$	0.7	$	25.1

Operating Segment Net Sales by Geographic Area

The following table presents net sales by our operating segment operations by geographic area for the years indicated:

(Dollars in millions)	Net Sales(1)
Region/Country	Advanced Electronics Solutions		Elastomeric Material Solutions		Other		Total
December 31, 2024
U.S.	$	80.8	$	136.5	$	3.6	$	220.9
Other Americas	4.2		15.5		0.5		20.2
Total Americas	85.0		152.0		4.1		241.1
China	140.0		99.2		4.8		244.0
Other APAC	90.9		30.1		2.4		123.4
Total APAC	230.9		129.3		7.2		367.4
Germany	74.9		26.7		0.6		102.2
Other EMEA	61.4		52.9		5.1		119.4
Total EMEA	136.3		79.6		5.7		221.6
Total net sales	$	452.2	$	360.9	$	17.0	$	830.1
December 31, 2023
U.S.	$	81.1	$	155.4	$	3.9	$	240.4
Other Americas	3.6		13.7		0.3		17.6
Total Americas	84.7		169.1		4.2		258.0
China	144.6		93.0		4.3		241.9
Other APAC	88.3		31.7		5.6		125.6
Total APAC	232.9		124.7		9.9		367.5
Germany	95.2		28.3		0.5		124.0
Other EMEA	96.9		56.9		5.1		158.9
Total EMEA	192.1		85.2		5.6		282.9
Total net sales	$	509.7	$	379.0	$	19.7	$	908.4
December 31, 2022
U.S.	$	122.7	$	169.4	$	4.5	$	296.6
Other Americas	6.6		15.4		0.3		22.3
Total Americas	129.3		184.8		4.8		318.9
China	154.4		121.7		7.4		283.5
Other APAC	75.2		31.4		2.7		109.3
Total APAC	229.6		153.1		10.1		392.8
Germany	78.7		30.4		1.1		110.2
Other EMEA	92.6		51.7		5.0		149.3
Total EMEA	171.3		82.1		6.1		259.5
Total net sales	$	530.2	$	420.0	$	21.0	$	971.2

(1) Net sales are allocated to countries based on the location of the customer. The table above lists individual countries with 10% or more of net sales for the periods indicated.