Effective on January 1, 2025, the Company completed the sale of the Engineered Materials segment for approximately $208.0 million on a cash-free and debt-free basis. During the second quarter of 2025, the Company received $7.8 million related to a final working capital adjustment.

The following represents financial results from Engineered Materials included in discontinued operations:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2025		2024		2025		2024
Net sales	$	—	$	52.6	$	—	$	107.7
Cost of sales	—		40.2		—		81.6
Engineering, selling and administrative	—		5.1		—		10.7
Operating profit	—		7.3		—		15.4
Gain on sale of business	7.8		—		43.5		—
Other expense, net	—		(0.2)		—		(0.3)
Net income from discontinued operations before income taxes	7.8		7.1		43.5		15.1
Provision for income taxes	1.7		1.8		8.6		3.8
Income from discontinued operations, net of tax	$	6.1	$	5.3	$	34.9	$	11.3

The major categories of assets and liabilities included in assets of discontinued operations and liabilities of discontinued operations are as follows:


(in millions)	December 31, 2024
Assets:
Cash and Cash Equivalents	$	1.5
Accounts receivable, net	9.2
Inventories, net	8.1
Other current assets	1.4
Property, plant and equipment, net	25.3
Other assets	0.4
Intangible assets, net	0.7
Goodwill	171.3
Current assets held for sale	$	217.9

Liabilities:

Accounts payable	16.8
Accrued liabilities	7.9



Long-term deferred tax liability	19.2
Other liabilities	0.2
Current liabilities held for sale	$	44.1