v3.26.3
Segment and Related Information
 9 Months Ended
Oct. 04, 2026
Segment and Related Information [Abstract]  
Segment and Related Information
Note 13.  Segment and Related Information
 
The Company determines its operating segments based on the discrete financial information that is regularly evaluated by its chief operating decision maker, our Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The Company’s operating segments are strategic business units that offer different products and serve different markets. They are managed separately and require different technology and marketing strategies.
 
The Company has two reportable segments: Consumer & Specialties and Engineered Solutions. See Note 1 to the Condensed Consolidated Financial Statements.
 
The Company evaluates performance based on the operating income of the respective business units. The costs deducted to arrive at operating profit do not include several items, such as net interest or income tax expense. Depreciation expense related to corporate assets is allocated to the business segments and is included in their income from operations. However, such corporate depreciable assets are not included in the segment assets. Intersegment sales and transfers are not significant.
 
Segment revenues, expenses, operating income, and a reconciliation of the operating segment totals to the applicable line items on the Condensed Consolidated Financial Statements are as follows for the three and nine-month periods ended October 4, 2026 and September 28, 2025:
 
 Three Months Ended
 Oct. 4, 2026 Sep. 28, 2025
 Consumer & Engineered   Consumer & Engineered  
(in millions of dollars)Specialties Solutions Total Specialties Solutions Total
Net sales$278.1  $276.8  $554.9  $277.4  $255.0  $532.4 
Cost of goods sold 232.1   193.6   425.7   218.0   177.4   395.4 
Segment production margin 46.0   83.2   129.2   59.4   77.6   137.0 
Marketing and administrative expenses 18.0   32.0   50.0   18.9   30.3   49.2 
Research and development expenses 3.2   2.5   5.7   3.1   2.5   5.6 
Segment income from operations$24.8  $48.7  $73.5  $37.4  $44.8  $82.2 
 Nine Months Ended
 Oct. 4, 2026Sep. 28, 2025
 Consumer & Engineered    Consumer & Engineered   
(in millions of dollars)Specialties Solutions Total Specialties Solutions Total
Net sales$849.2  $801.0  $1,650.2  $823.4  $729.7  $1,553.1 
Cost of goods sold 697.5   558.6   1,256.1   651.9   507.7   1,159.6 
Segment production margin 151.7   242.4   394.1   171.5   222.0   393.5 
Marketing and administrative expenses 55.4   97.6   153.0   57.1   91.7   148.8 
Research and development expenses 9.8   7.9   17.7   9.7   7.4   17.1 
Restructuring and other items -   -   -   5.8   3.3   9.1 
Gain on sale of assets, net -   -   -   -   (5.6)   (5.6) 
Segment income from operations$86.5  $136.9  $223.4  $98.9  $125.2  $224.1 
 
 Three Months Ended Nine Months Ended
 Oct. 4, Sep. 28, Oct. 4, Sep. 28,
(in millions of dollars)2026 2025 2026 2025
Segment income from operations$73.5  $82.2  $223.4  $224.1 
Interest expense, net (12.1)   (13.8)   (37.5)   (41.6) 
Other non-operating income (deductions), net 0.3   (0.5)   1.9   (4.4) 
Unallocated expenses:       
Provision for litigation accrual and credit losses -   -   290.0   215.0 
Restructuring and other items -   -   -   2.2 
Litigation expenses 6.7   7.5   20.4   14.5 
Unallocated corporate expenses 2.0   3.8   9.8   7.0 
Income (loss) before tax and equity in earnings$53.0  $56.6  $(132.4)  $(60.6) 
 
Segment information is as follows for the three and nine-month periods ended October 4, 2026 and September 28, 2025:
 
 Three Months Ended Nine Months Ended
 Oct. 4, Sep. 28, Oct. 4, Sep. 28,
(in millions of dollars)2026 2025 2026 2025
Depreciation, Depletion, and Amortization       
Consumer & Specialties$11.6  $10.8  $34.6  $31.8 
Engineered Solutions 11.9   11.6   37.3   36.1 
Total$23.5  $22.4  $71.9  $67.9 
        
Capital Expenditures       
Consumer & Specialties$11.2  $17.4  $39.6  $47.8 
Engineered Solutions 10.7   9.0   30.8   23.3 
Corporate 2.1   0.9   3.9   3.6 
Total$24.0  $27.3  $74.3  $74.7 
The Company’s segment assets as of October 4, 2026 and December 31, 2025 are as follows:
 
 Oct. 4, Dec. 31,
(in millions of dollars)2026 2025
Segment Assets   
Consumer & Specialties$1,341.6  $1,333.4 
Engineered Solutions 2,089.1   2,043.9 
Corporate 117.7   91.7 
Total$3,548.4  $3,469.0 
 
The Company’s sales by product category are as follows:
 
 Three Months Ended Nine Months Ended
 Oct. 4, Sep. 28, Oct. 4, Sep. 28,
(in millions of dollars)2026 2025 2026 2025
Household & Personal Care$130.5  $129.8  $396.3  $380.3 
Specialty Additives 147.6   147.6   452.9   443.1 
High-Temperature Technologies 192.3   178.9   565.9   526.7 
Environmental & Infrastructure 84.5   76.1   235.1   203.0 
Total$554.9  $532.4  $1,650.2  $1,553.1