| Schedule of Segment Reporting Information |
The following tables present financial information on our segments as of December 31, 2025, 2024 and 2023 and for the years then ended.
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Composite |
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Engineered |
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Corporate & |
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(In millions) |
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Materials |
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Products |
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Other (a) |
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Total |
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Year Ended December 31, 2025 |
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Net sales to external customers |
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$ |
1,516.2 |
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$ |
377.7 |
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|
$ |
— |
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|
$ |
1,893.9 |
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Intersegment sales |
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79.0 |
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3.8 |
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(82.8 |
) |
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— |
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Total sales |
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1,595.2 |
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381.5 |
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(82.8 |
) |
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1,893.9 |
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Cost of sales |
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1,217.6 |
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319.8 |
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(78.3 |
) |
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1,459.1 |
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Gross margin |
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377.6 |
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61.7 |
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(4.5 |
) |
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434.8 |
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Selling, general and administrative expenses |
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105.2 |
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15.2 |
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48.6 |
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169.0 |
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Research and technology expenses |
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48.6 |
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4.1 |
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3.7 |
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56.4 |
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Other operating expense |
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2.8 |
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29.3 |
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5.7 |
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|
37.8 |
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Operating income (loss) |
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$ |
221.0 |
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$ |
13.1 |
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$ |
(62.5 |
) |
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$ |
171.6 |
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Year Ended December 31, 2024 |
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Net sales to external customers |
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$ |
1,531.0 |
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$ |
372.0 |
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$ |
— |
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$ |
1,903.0 |
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Intersegment sales |
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90.0 |
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1.2 |
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(91.2 |
) |
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— |
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Total sales |
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1,621.0 |
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373.2 |
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(91.2 |
) |
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1,903.0 |
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Cost of sales |
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1,218.8 |
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299.5 |
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(85.1 |
) |
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1,433.2 |
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Gross margin |
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402.2 |
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73.7 |
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(6.1 |
) |
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469.8 |
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Selling, general and administrative expenses |
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98.3 |
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21.7 |
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56.6 |
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176.6 |
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Research and technology expenses |
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48.1 |
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4.7 |
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4.3 |
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57.1 |
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Other operating expense |
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40.8 |
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7.7 |
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1.5 |
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50.0 |
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Operating income (loss) |
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$ |
215.0 |
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$ |
39.6 |
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$ |
(68.5 |
) |
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$ |
186.1 |
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Year Ended December 31, 2023 |
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Net sales to external customers |
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$ |
1,474.2 |
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$ |
314.8 |
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$ |
— |
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$ |
1,789.0 |
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Intersegment sales |
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70.6 |
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2.4 |
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(73.0 |
) |
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— |
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Total sales |
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1,544.8 |
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317.2 |
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(73.0 |
) |
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1,789.0 |
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Cost of sales |
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1,165.1 |
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261.1 |
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(70.4 |
) |
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1,355.8 |
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Gross margin |
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379.7 |
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56.1 |
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(2.6 |
) |
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433.2 |
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Selling, general and administrative expenses |
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95.5 |
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19.0 |
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49.3 |
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163.8 |
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Research and technology expenses |
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45.1 |
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4.1 |
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3.5 |
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52.7 |
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Other operating expense |
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1.2 |
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0.2 |
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— |
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1.4 |
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Operating income (loss) |
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$ |
237.9 |
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$ |
32.8 |
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$ |
(55.4 |
) |
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$ |
215.3 |
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(In millions) |
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Composite
Materials |
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Engineered
Products |
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Corporate &
Other |
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Total |
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Depreciation and amortization |
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2025 |
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$ |
109.4 |
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$ |
12.9 |
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$ |
— |
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$ |
122.3 |
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2024 |
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109.1 |
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14.9 |
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— |
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124.0 |
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2023 |
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110.4 |
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14.4 |
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— |
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124.8 |
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Equity in earnings (losses) from affiliated companies |
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2025 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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2024 |
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— |
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— |
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— |
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— |
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2023 |
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— |
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8.1 |
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— |
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8.1 |
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Segment assets |
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2025 |
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$ |
2,066.7 |
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$ |
596.2 |
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$ |
41.1 |
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$ |
2,704.0 |
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2024 |
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2,147.6 |
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541.4 |
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36.6 |
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2,725.6 |
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2023 |
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2,309.3 |
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543.1 |
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66.1 |
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2,918.5 |
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Investments in affiliated companies |
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2025 |
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$ |
— |
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$ |
— |
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$ |
5.0 |
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$ |
5.0 |
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2024 |
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— |
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— |
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5.0 |
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5.0 |
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2023 |
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— |
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— |
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5.0 |
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5.0 |
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Accrual basis additions to property, plant and equipment |
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2025 |
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$ |
75.1 |
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$ |
6.1 |
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$ |
— |
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$ |
81.2 |
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2024 |
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67.1 |
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14.0 |
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— |
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81.1 |
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2023 |
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70.9 |
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50.7 |
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— |
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|
121.6 |
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Stock-based compensation |
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2025 |
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$ |
5.3 |
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$ |
1.3 |
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$ |
7.8 |
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$ |
14.4 |
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2024 |
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6.1 |
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1.5 |
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14.6 |
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22.2 |
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2023 |
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6.2 |
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1.7 |
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13.0 |
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20.9 |
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| Schedule of Net Sales and Long-Lived Assets, by Geographic Area |
Net sales and long-lived assets, by geographic area, consisted of the following for the three years ended December 31, 2025, 2024 and 2023:
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(In millions) |
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2025 |
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2024 |
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2023 |
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Net Sales by Geography (a): |
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United States |
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$ |
997.5 |
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$ |
955.8 |
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$ |
888.2 |
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International |
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France |
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331.3 |
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340.8 |
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320.4 |
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Spain |
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209.5 |
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199.4 |
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183.2 |
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Germany |
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135.0 |
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149.2 |
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|
153.6 |
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United Kingdom |
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162.2 |
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167.8 |
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150.4 |
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Austria |
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27.0 |
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38.1 |
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56.1 |
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Other |
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31.4 |
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51.9 |
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|
37.1 |
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Total international |
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896.4 |
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|
947.2 |
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|
900.8 |
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Total consolidated net sales |
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$ |
1,893.9 |
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$ |
1,903.0 |
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$ |
1,789.0 |
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Net Sales to External Customers (b): |
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United States |
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$ |
813.8 |
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$ |
779.9 |
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$ |
737.5 |
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International |
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Germany |
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|
129.5 |
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|
141 |
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|
141.2 |
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France |
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|
170.5 |
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|
170.1 |
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|
174.7 |
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Spain |
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|
136.2 |
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|
147.7 |
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|
138.1 |
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United Kingdom |
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|
68.6 |
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|
66.7 |
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|
65.3 |
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Other |
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|
575.3 |
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|
597.6 |
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|
532.2 |
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Total international |
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|
1,080.1 |
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|
1,123.1 |
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|
1,051.5 |
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Total consolidated net sales |
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$ |
1,893.9 |
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$ |
1,903.0 |
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$ |
1,789.0 |
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Long-lived Assets (c): |
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United States |
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$ |
1,342.1 |
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$ |
1,363.8 |
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$ |
1,410.3 |
|
International |
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|
|
|
|
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France |
|
|
323.7 |
|
|
294.8 |
|
|
322.7 |
|
United Kingdom |
|
|
106.0 |
|
|
99.8 |
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|
107.2 |
|
Spain |
|
|
45.5 |
|
|
42.4 |
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|
45.5 |
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Other |
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|
59.7 |
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|
58.2 |
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|
73.6 |
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Total international |
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|
534.9 |
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|
495.2 |
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|
549.0 |
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Total consolidated long-lived assets |
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$ |
1,877.0 |
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$ |
1,859.0 |
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$ |
1,959.3 |
|
(a)Net sales by geography based on the location in which the product sold was manufactured. (b)Net sales to external customers based on the location to which the product sold was delivered. (c)Long-lived assets primarily consist of property, plant and equipment, net and goodwill at December 31, 2025, 2024 and 2023. Also included are right of use assets related to operating leases.
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