v3.26.1
Balance Sheet Items (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable
The “Accounts receivable, net” line item in the condensed consolidated statements of financial position consisted of the following:
(Dollars in millions)June 30, 2026December 31, 2025
Accounts receivable - trade$142.6 $121.2 
Allowance for credit losses(1.2)(1.3)
Accounts receivable - other7.8 10.7 
Total accounts receivable, net$149.2 $130.6 
Schedule of Reportable Segment Information Our contract assets by operating segment as of June 30, 2026 and December 31, 2025 were as follows:
(Dollars in millions)June 30, 2026December 31, 2025
Advanced Electronics Solutions$23.7 $24.0 
Elastomeric Material Solutions0.1 0.1 
Other3.3 3.8 
Total contract assets$27.1 $27.9 
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 SolutionsElastomeric Material SolutionsOtherTotal
Three Months Ended June 30, 2026
Net sales - recognized over time$42.8 $1.8 $4.0 $48.6 
Net sales - recognized at a point in time74.7 93.0 0.5 168.2 
Total net sales$117.5 $94.8 $4.5 $216.8 
Cost of sales$84.0 $59.8 $2.6 $146.4 
Gross margin$33.5 $35.0 $1.9 $70.4 
Inventories, net$78.2 $50.0 $1.8 $130.0 
Depreciation expense$5.5 $2.7 $0.2 $8.4 
Three Months Ended June 30, 2025
Net sales - recognized over time$34.9 $2.4 $3.9 $41.2 
Net sales - recognized at a point in time74.1 87.0 0.5 161.6 
Total net sales$109.0 $89.4 $4.4 $202.8 
Cost of sales$78.1 $57.9 $2.8 $138.8 
Gross margin$30.9 $31.5 $1.6 $64.0 
Inventories, net$85.5 $64.1 $1.6 $151.2 
Depreciation expense$4.4 $2.8 $0.2 $7.4 
Six Months Ended June 30, 2026
Net sales - recognized over time$82.2 $3.3 $7.9 $93.4 
Net sales - recognized at a point in time143.0 179.9 1.0 323.9 
Total net sales$225.2 $183.2 $8.9 $417.3 
Cost of sales$160.3 $116.9 $5.1 $282.3 
Gross margin$64.9 $66.3 $3.8 $135.0 
Inventories, net$78.2 $50.0 $1.8 $130.0 
Depreciation expense$10.9 $5.4 $0.4 $16.7 
Six Months Ended June 30, 2025
Net sales - recognized over time$73.8 $4.5 $7.4 $85.7 
Net sales - recognized at a point in time139.4 167.5 0.7 307.6 
Total net sales$213.2 $172.0 $8.1 $393.3 
Cost of sales$153.2 $113.8 $5.3 $272.3 
Gross margin$60.0 $58.2 $2.8 $121.0 
Inventories, net$85.5 $64.1 $1.6 $151.2 
Depreciation expense$8.6 $5.6 $0.4 $14.6 
The following table presents net sales by our segment operations by geographic area for the periods indicated:
(Dollars in millions)
Net Sales(1)
Region/CountryAdvanced Electronics SolutionsElastomeric Material SolutionsOtherTotal
Three Months Ended June 30, 2026
United States$19.4 $35.4 $1.0 $55.8 
Other Americas1.5 4.0 — 5.5 
Total Americas20.9 39.4 1.0 61.3 
China43.4 24.1 1.8 69.3 
Other APAC14.4 9.2 0.2 23.8 
Total APAC57.8 33.3 2.0 93.1 
Germany13.7 7.2 0.2 21.1 
Other EMEA25.1 14.9 1.3 41.3 
Total EMEA38.8 22.1 1.5 62.4 
Total net sales$117.5 $94.8 $4.5 $216.8 
Three Months Ended June 30, 2025
United States$22.9 $33.9 $0.8 $57.6 
Other Americas0.4 2.7 — 3.1 
Total Americas23.3 36.6 0.8 60.7 
China33.9 25.9 1.3 61.1 
Other APAC13.5 7.7 0.6 21.8 
Total APAC47.4 33.6 1.9 82.9 
Germany13.4 5.9 0.2 19.5 
Other EMEA24.9 13.3 1.5 39.7 
Total EMEA38.3 19.2 1.7 59.2 
Total net sales$109.0 $89.4 $4.4 $202.8 
(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.
(Dollars in millions)
Net Sales(1)
Region/CountryAdvanced Electronics SolutionsElastomeric Material SolutionsOtherTotal
Six Months Ended June 30, 2026
United States$38.1 $71.6 $1.9 $111.6 
Other Americas2.6 7.1 0.1 9.8 
Total Americas40.7 78.7 2.0 121.4 
China83.0 44.8 3.2 131.0 
Other APAC28.4 16.9 0.7 46.0 
Total APAC111.4 61.7 3.9 177.0 
Germany27.1 13.6 0.4 41.1 
Other EMEA46.0 29.2 2.6 77.8 
Total EMEA73.1 42.8 3.0 118.9 
Total net sales$225.2 $183.2 $8.9 $417.3 
Six Months Ended June 30, 2025
United States$45.0 $67.6 $1.7 $114.3 
Other Americas1.2 5.7 — 6.9 
Total Americas46.2 73.3 1.7 121.2 
China67.5 45.8 2.3 115.6 
Other APAC26.2 15.7 1.2 43.1 
Total APAC93.7 61.5 3.5 158.7 
Germany25.0 11.5 0.4 36.9 
Other EMEA48.3 25.7 2.5 76.5 
Total EMEA73.3 37.2 2.9 113.4 
Total net sales$213.2 $172.0 $8.1 $393.3 
(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.
Schedule of Inventories
The “Inventories, net” line item in the condensed consolidated statements of financial position consisted of the following:
(Dollars in millions)June 30, 2026December 31, 2025
Raw materials$60.1 $51.9 
Work-in-process39.7 42.3 
Finished goods30.2 30.8 
Total inventories$130.0 $125.0 
Schedule of Accounts Payable
The “Accounts payable” line item in the condensed consolidated statements of financial position consisted of the following:
(Dollars in millions)June 30, 2026December 31, 2025
Accounts payable - trade$59.7 $41.3 
Accounts payable - other3.4 1.6 
Total accounts payable$63.1 $42.9