Segment and Related Information (Tables)

9 Months Ended

Sep. 28, 2025

Segment and Related Information [Abstract]

Segment Information

Segment revenues, expenses, operating income and a reconciliation of the operating segment totals to the applicable line items on the Condensed Consolidated Financial Statements is as follows for the three and nine-month periods ended September 28, 2025 and September 29, 2024 is as follows:

	Three Months Ended
	Sep. 28, 2025						Sep. 29, 2024
		Consumer &		Engineered				Consumer &		Engineered
(in millions of dollars)		Specialties		Solutions		Total		Specialties		Solutions		Total
Net sales	$	277.4	$	255.0	$	532.4	$	280.3	$	244.4	$	524.7
Cost of goods sold		218.0		177.4		395.4		217.8		171.7		389.5
Segment production margin		59.4		77.6		137.0		62.5		72.7		135.2
Marketing and administrative expenses		18.9		30.3		49.2		17.5		31.3		48.8
Research and development expenses		3.1		2.5		5.6		3.3		2.6		5.9
Segment income from operations	$	37.4	$	44.8	$	82.2	$	41.7	$	38.8	$	80.5

	Nine Months Ended
	Sep. 28, 2025								Sep. 29, 2024
		Consumer &		Engineered						Consumer &		Engineered
(in millions of dollars)		Specialties		Solutions			Total			Specialties		Solutions		Total
Net sales	$	823.4	$	729.7		$	1,553.1		$	861.5	$	738.9	$	1,600.4
Cost of goods sold		651.9		507.7			1,159.6			670.6		514.8		1,185.4
Segment production margin		171.5		222.0			393.5			190.9		224.1		415.0
Marketing and administrative expenses		57.1		91.7			148.8			53.8		94.3		148.1
Research and development expenses		9.7		7.4			17.1			9.5		7.8		17.3
Restructuring and other items		5.8		3.3			9.1			-		-		-
Gain on sale of assets, net		-		(5.6	)		(5.6	)		-		-		-
Segment income from operations	$	98.9	$	125.2		$	224.1		$	127.6	$	122.0	$	249.6

Segment information is as follows for the three and nine-month periods ended September 28, 2025 and September 29, 2024:

	Three Months Ended				Nine Months Ended
		Sep. 28,		Sep. 29,		Sep. 28,		Sep. 29,
(in millions of dollars)		2025		2024		2025		2024
Depreciation, Depletion and Amortization
Consumer & Specialties	$	10.8	$	11.6	$	31.8	$	35.2
Engineered Solutions		11.6		11.5		36.1		35.4
Total	$	22.4	$	23.1	$	67.9	$	70.6
Capital Expenditures
Consumer & Specialties	$	17.4	$	8.3	$	47.8	$	27.5
Engineered Solutions		9.0		15.1		23.3		30.8
Corporate		0.9		1.3		3.6		3.1
Total	$	27.3	$	24.7	$	74.7	$	61.4

Reconciliation of Segment Income to Consolidated

	Three Months Ended						Nine Months Ended
		Sep. 28,			Sep. 29,			Sep. 28,			Sep. 29,
(in millions of dollars)		2025			2024			2025			2024
Segment income from operations	$	82.2		$	80.5		$	224.1		$	249.6
Interest expense, net		(13.8	)		(14.0	)		(41.6	)		(43.8	)
Other non-operating deductions, net		(0.5	)		(3.1	)		(4.4	)		(4.4	)
Unallocated expenses:
Provision for litigation reserve and credit losses		-			-			215.0			30.0
Restructuring and other items		-			-			2.2			-
Litigation expenses		7.5			2.6			14.5			8.9
Unallocated corporate expenses		3.8			1.3			7.0			8.3
Income (loss) before taxes and equity in earnings	$	56.6		$	59.5		$	(60.6	)	$	154.2

Reconciliation of Segment Assets to Consolidated

The Company’s segment assets as of September 28, 2025 and December 31, 2024 are as follows:

		Sep. 28,		Dec. 31,
(in millions of dollars)		2025		2024
Segment Assets
Consumer & Specialties	$	1,338.8	$	1,289.4
Engineered Solutions		2,056.4		2,028.0
Corporate		63.6		76.5
Total	$	3,458.8	$	3,393.9

Sales by Product Category

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

	Three Months Ended				Nine Months Ended
		Sep. 28,		Sep. 29,		Sep. 28,		Sep. 29,
(in millions of dollars)		2025		2024		2025		2024
Household & Personal Care	$	129.8	$	130.9	$	380.3	$	396.1
Specialty Additives		147.6		149.4		443.1		465.4
High-Temperature Technologies		178.9		174.8		526.7		536.8
Environmental & Infrastructure		76.1		69.6		203.0		202.1
Total	$	532.4	$	524.7	$	1,553.1	$	1,600.4