Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment and Related Information [Abstract]

Reconciliation of Significant Items from Segments to Consolidated Totals

Segment revenues, expenses, operating income and a reconciliation of the operating segment totals to the applicable line items on the consolidated financial statements is as follows:

	Year Ended December 31,
	2024								2023
(millions of dollars)	Consumer & Specialties		Engineered Solutions			Total			Consumer & Specialties		Engineered Solutions		Total
Net Sales	$	1,140.2	$	978.3		$	2,118.5		$	1,160.2	$	1,009.7	$	2,169.9
Cost of goods sold		890.4		680.4			1,570.8			938.6		724.4		1,663.0
Segment production margin		249.8		297.9			547.7			221.6		285.3		506.9
Marketing and administrative expenses		71.7		125.8			197.5			69.1		124.6		193.7
Research and development expenses		12.6		10.4			23.0			11.5		9.7		21.2
Gain on sale of assets, net		—		(12.3	)		(12.3	)		—		—		—
Impairment of assets		—		—			—			71.7		—		71.7
Restructuring and other items, net		—		—			—			0.9		3.2		4.1
Litigation expenses		—		—			—			26.8		—		26.8
Segment income from operations	$	165.5	$	174.0		$	339.5		$	41.6	$	147.8	$	189.4

	Year Ended December 31,
	2022
(millions of dollars)	Consumer & Specialties		Engineered Solutions		Total
Net Sales	$	1,124.6	$	1,000.9	$	2,125.5
Cost of goods sold		937.0		723.5		1,660.5
Segment production margin		187.6		277.4		465.0
Marketing and administrative expenses		63.1		120.7		183.8
Research and development expenses		10.8		9.6		20.4
Acquisition-related expenses		2.1		—		2.1
Litigation expenses		32.6		—		32.6
Segment income from operations	$	79.0	$	147.1	$	226.1

	Year Ended December 31,
(millions of dollars)	2024			2023			2022
Segment income from operations	$	339.5		$	189.4		$	226.1
Interest expense, net		(56.4	)		(59.2	)		(43.9	)
Other non-operating deductions, net		(4.7	)		(4.9	)		(3.8	)
Unallocated expenses:
Provision for credit losses		30.0			—			—
Restructuring and other items, net		—			2.8			—
Acquisition-related expenses		—			0.3			3.0
Litigation expenses		11.3			2.4			—
Unallocated corporate expenses		11.7			12.1			8.3
Debt extinguishment expenses		(1.8	)		—			(6.9	)
Non-cash pension settlement charge		—			—			(3.5	)
Income before tax and equity in earnings	$	223.6		$	107.7		$	156.7

Segment Information

Segment information for the years ended December 31, 2024, 2023 and 2022 was as follows:

	Year Ended December 31,
(millions of dollars)	2024		2023		2022
Depreciation, Depletion and Amortization
Consumer & Specialties	$	47.2	$	47.2	$	48.0
Engineered Solutions		47.7		47.7		46.2
Total	$	94.9	$	94.9	$	94.2
Segment Assets
Consumer & Specialties	$	1,289.4	$	1,244.8	$	1,107.5
Engineered Solutions		2,028.0		2,028.5		2,187.5
Corporate		76.5		73.3		106.6
Total	$	3,393.9	$	3,346.6	$	3,401.6
Capital Expenditures
Consumer & Specialties	$	45.2	$	56.8	$	44.3
Engineered Solutions		39.3		31.2		34.0
Corporate		5.0		5.5		4.0
Total	$	89.5	$	93.5	$	82.3

Financial Information Related to Operations by Geographic Area

Financial information relating to the Company’s operations by geographic area was as follows:

	Year Ended December 31,
(millions of dollars)	2024		2023		2022
Net Sales
United States	$	1,089.4	$	1,144.0	$	1,135.6
Canada/Latin America		151.2		150.2		148.3
Europe/Africa		521.1		525.5		496.8
Asia		356.8		350.2		344.8
Total International	$	1,029.1	$	1,025.9	$	989.9
Consolidated net sales	$	2,118.5	$	2,169.9	$	2,125.5
Long-Lived Assets
United States	$	1,849.1	$	1,842.0	$	1,915.8
Canada/Latin America		14.6		17.7		16.4
Europe/Africa		147.3		157.0		162.8
Asia		110.6		114.7		112.1
Total International	$	272.5	$	289.4	$	291.3
Consolidated long-lived assets	$	2,121.6	$	2,131.4	$	2,207.1

Sales by Product Category

The Company’s sales by product category are as follows:

	Year Ended December 31,
(millions of dollars)	2024		2023		2022
Household & Personal Care	$	530.0	$	517.6	$	476.2
Specialty Additives		610.2		642.6		648.4
High-Temperature Technologies		713.2		720.9		702.5
Environmental & Infrastructure		265.1		288.8		298.4
Total	$	2,118.5	$	2,169.9	$	2,125.5