v3.26.1
Business Segments (Tables)
 6 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Schedule of Sales and Profit by Segment Following is certain financial information with respect to the Company’s business segments for the periods indicated:
(In millions)Quarter ended June 28, 2026Quarter ended June 29, 2025
HPMCAA&STotalHPMCAA&STotal
Sales to external customers$637.1 $624.0 $1,261.1 $608.8 $531.6 $1,140.4 
Intersegment sales44.1 118.6 162.7 53.3 46.9 100.2 
Total sales681.2 742.6 1,423.8 662.1 578.5 1,240.6 
Reconciliation of sales
Elimination of intersegment sales(162.7)(100.2)
Total consolidated sales$1,261.1 $1,140.4 
Less(1):
Allocated corporate overhead16.8 17.8 18.5 19.9 
Other segment items(2)
510.9 577.2 499.6 481.9 
Segment EBITDA153.5 147.6 301.1 144.0 76.7 220.7 
Reconciliation of segment EBITDA
Corporate expenses(14.9)(15.4)
Closed operations and other income(1.8)2.4 
Depreciation & amortization(44.0)(41.6)
Interest expense, net(23.9)(25.4)
Restructuring and other charges(23.6)(7.4)
Loss on sales of businesses— — 
Income before taxes$192.9 $133.3 
(In millions)Year-to-date period ended June 28, 2026Year-to-date period ended June 29, 2025
HPMCAA&STotalHPMCAA&STotal
Sales to external customers$1,251.4 $1,161.2 $2,412.6 $1,192.9 $1,091.9 $2,284.8 
Intersegment sales85.2 218.2 303.4 113.2 104.3 217.5 
Total sales1,336.6 1,379.4 2,716.0 1,306.1 1,196.2 2,502.3 
Reconciliation of sales
Elimination of intersegment sales(303.4)(217.5)
Total consolidated sales$2,412.6 $2,284.8 
Less(1):
Allocated corporate overhead32.4 34.1 34.3 36.0 
Other segment items(2)
997.8 1,100.7 996.8 1,000.1 
Segment EBITDA306.4 244.6 551.0 275.0 160.1 435.1 
Reconciliation of segment EBITDA
Corporate expenses(31.9)(32.8)
Closed operations and other income(3.0)— 
Depreciation & amortization(89.0)(82.4)
Interest expense, net(47.6)(48.4)
Restructuring and other charges(50.0)(13.0)
Loss on sales of businesses— (3.7)
Income before taxes$329.5 $254.8 
(1) The CODM is regularly provided with allocated corporate overhead and segment EBITDA, which is used to assess operating performance. Therefore, the significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown.
(2) Other segment items for each reportable segment include: cost of sales, general and administrative expenses, and gain/loss on asset sales. General & administrative expenses consist of non-manufacturing payroll and benefits, office expenses, professional service and legal expenses, occupancy expenses including rent and lease expense, and travel expense.
Schedule of Other Financial Information By Segment
Certain additional information regarding the Company’s business segments is presented below:
Quarter endedYear-to-date period ended
(In millions)June 28, 2026June 29, 2025June 28, 2026June 29, 2025
Depreciation and amortization:
High Performance Materials & Components$20.6 $20.9 $40.2 $40.6 
Advanced Alloys & Solutions21.8 19.1 45.5 38.6 
Other1.6 1.6 3.3 3.2 
Total depreciation and amortization$44.0 $41.6 $89.0 $82.4 
Capital expenditures:
High Performance Materials & Components$45.2 $45.2 $73.6 $74.6 
Advanced Alloys & Solutions21.9 26.2 46.7 49.2 
Corporate1.5 0.7 3.5 1.6 
Total capital expenditures$68.6 $72.1 $123.8 $125.4 
(In millions)
Identifiable assets:June 28, 2026December 28, 2025
High Performance Materials & Components$2,404.1 $2,368.6 
Advanced Alloys & Solutions2,528.0 2,249.1 
Corporate:
Deferred Taxes33.4 33.5 
Cash and cash equivalents and other773.4 448.4 
Total assets$5,738.9 $5,099.6 
Schedule of Company Assets By Country
($ in millions)June 28, 2026Percent
of total		December 28, 2025Percent
of total
Total assets:
United States$5,200.0 91 %$4,544.4 89 %
China322.0 6 %321.8 6 %
Other216.9 3 %233.4 5 %
Total Assets$5,738.9 100 %$5,099.6 100 %