v3.26.1
Segment Financial Data
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Financial Data Segment Financial Data
The Company globally manages its business operations through two reportable business segments. Segment information is consistent with how the President and Chief Executive Officer of Solstice Advanced Materials, who is the Chief Operating Decision Maker (“CODM”), and management reviews the businesses, makes investing and resource allocation decisions, and assesses operating performance. The Company manages and reports its operating results through its two reportable segments: (i) Refrigerants & Applied Solutions and (ii) Electronic & Specialty Materials, in accordance with ASC 280, Segment Reporting. The remainder of the Business’s operations are presented in Corporate and All Other, which is not a reportable business segment.
The CODM evaluates segment performance based on segment adjusted EBITDA, by comparing budget-to-actual and period-over-period results. Segment Adjusted EBITDA is defined as segment net income excluding income taxes, general corporate unallocated expense, depreciation, amortization, interest and other financial charges, remeasurement of foreign currencies, stock-based compensation expense, nonoperating pension expense (income), transaction-related costs, repositioning charges, asset retirement obligations accretion, asset impairment charges, litigation costs and insurance settlements (net of recoveries), gains and losses on disposal of assets, and certain other items that are otherwise of an unusual or non-recurring nature.
The below table summarizes information about segment revenues, significant segment expenses and other segment items, for each historical period:
For The Three Months Ended June 30,
20262025
Refrigerants & Applied SolutionsElectronic & Specialty MaterialsRefrigerants & Applied SolutionsElectronic & Specialty Materials
Net sales
Products
$764 $298 $668 $277 
Services
86 — 88 — 
Total Net sales
850 298 756 277 
Less
Cost of products and services sold1
556 219 455 216 
Selling, general and administrative expenses2
42 22 37 17 
Research & development expenses15 10 14 8 
Other segment items3
(2)(3)(2)(1)
Add
Depreciation
40 14 43 14 
Amortization
2 — 3 1 
Segment Adjusted EBITDA
$280 $64 $298 $52 
__________________
1.Amounts exclude ARO accretion, repositioning charges, and other non-recurring items.
2.Amounts exclude stock-based compensation expense, transaction costs, nonoperating pension expense (income), repositioning charges, and other non-recurring items.
3.Other segment items primarily consisted of gains and losses from segment-related equity-method investments.
For The Six Months Ended June 30,
20262025
Refrigerants & Applied SolutionsElectronic & Specialty MaterialsRefrigerants & Applied SolutionsElectronic & Specialty Materials
Net sales
Products$1,398 $579 $1,245 $538 
Services163 — 147 — 
Total Net sales 1,561 579 1,392 538 
Less
Cost of products and services sold1
1,015 429 842 409 
Selling, general and administrative expenses2
79 41 69 38 
Research & development expenses33 19 27 17 
Other segment items3
(4)(5)(6)(3)
Add
Depreciation79 28 79 26 
Amortization6 1 9 2 
Segment Adjusted EBITDA $522 $123 $548 $105 
__________________
1.Amounts exclude ARO accretion, repositioning charges, and other non-recurring items.
2.Amounts exclude stock-based compensation expense, transaction costs, nonoperating pension expense (income), repositioning charges, and other non-recurring items.
3.Other segment items primarily consisted of gains and losses from segment-related equity-method investments.
A reconciliation of segment adjusted EBITDA to Net income attributable to Solstice Advanced Materials is as follows:
For The Three Months Ended June 30,For The Six Months Ended June 30,
2026202520262025
Refrigerants & Applied Solutions
$280 $298 $522 $548 
Electronic & Specialty Materials
64 

52 123 

105 
Segment Adjusted EBITDA
$344 

$350 $645 

$653 
Corporate and All Other
(54)

(46)(106)

(78)
Adjusted EBITDA$290 $304 $539 $575 
Depreciation
(54)

(55)(107)

(105)
Amortization
(3)

(4)(10)

(11)
Interest and other financial charges
(23)

(2)(53)

(3)
Other adjustments1
(2)

(7)— 

1 
Stock-based compensation expense
(6)

(6)(11)

(12)
Transaction-related costs
(25)

(30)(47)

(58)
Income tax expense
(42)(101)(73)(148)
Net income
$134 

$99 $239 

$239 
Less: Net income attributable to noncontrolling interest
15 2 35 8 
Net income attributable to Solstice Advanced Materials$119 $97 $204 $231 
__________________
1.Other adjustments primarily consisted of gains and losses from disposal of long-lived assets, remeasurement of foreign currencies, environmental reserves, asset retirement obligations, nonoperating pension expense (income), and certain legal costs, net of recoveries.
June 30, 2026December 31, 2025
Total assets reconciliation
Refrigerants & Applied Solutions
$3,427 

$3,490 
Electronic & Specialty Materials
1,544 

1,471 
Corporate and All Other
948 

712 
Total assets
$5,918 

$5,673 
For The Six Months Ended
June 30,
20262025
Capital expenditures
Refrigerants & Applied Solutions
$103 

$89 
Electronic & Specialty Materials
77 

49 
Corporate and All Other
6 

— 
Total1
$186 

$138 
__________________
1.Unpaid capital expenditure was $83 million as of June 30, 2026.