v3.26.3
Segments (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Information by Reportable Segment

The following tables show information by reportable segment for the three and nine months ended September 30, 2026 and 2025:

 

 

Three Months Ended September 30, 2026

 

 

Nine Months Ended September 30, 2026

 

 

 

Americas

 

 

EURAF

 

 

MEAP

 

 

Total

 

 

Americas

 

 

EURAF

 

 

MEAP

 

 

Total

 

Revenues from external customers

 

$

333.5

 

 

$

183.4

 

 

$

96.9

 

 

$

613.8

 

 

$

903.8

 

 

$

548.0

 

 

$

251.5

 

 

$

1,703.3

 

Less: (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

260.1

 

 

 

156.3

 

 

 

75.6

 

 

 

492.0

 

 

 

711.2

 

 

 

456.9

 

 

 

195.0

 

 

 

1,363.1

 

Engineering, selling, and administration costs

 

 

34.3

 

 

 

36.8

 

 

 

7.6

 

 

 

78.7

 

 

 

106.6

 

 

 

108.1

 

 

 

20.7

 

 

 

235.4

 

Other segment items (b)

 

 

1.1

 

 

 

—

 

 

 

—

 

 

 

1.1

 

 

 

3.6

 

 

 

0.7

 

 

 

—

 

 

 

4.3

 

Segment operating income (loss)

 

 

38.0

 

 

 

(9.7

)

 

 

13.7

 

 

 

42.0

 

 

 

82.4

 

 

 

(17.7

)

 

 

35.8

 

 

 

100.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of segment operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

(9.2

)

 

 

 

 

 

 

 

 

 

 

 

(27.3

)

Amortization of deferred financing fees

 

 

 

 

 

 

 

 

 

 

 

(0.4

)

 

 

 

 

 

 

 

 

 

 

 

(1.1

)

Other expense - net

 

 

 

 

 

 

 

 

 

 

 

(3.4

)

 

 

 

 

 

 

 

 

 

 

 

(6.7

)

Unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other corporate expenses

 

 

 

 

 

 

 

 

 

 

 

(10.2

)

 

 

 

 

 

 

 

 

 

 

 

(34.5

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

18.8

 

 

 

 

 

 

 

 

 

 

 

$

30.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Segment Disclosures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization (c)

 

 

8.5

 

 

 

5.5

 

 

 

0.8

 

 

 

14.8

 

 

 

25.7

 

 

 

16.4

 

 

 

2.3

 

 

 

44.4

 

Capital expenditures

 

 

4.3

 

 

 

3.6

 

 

 

1.0

 

 

 

8.9

 

 

 

18.4

 

 

 

10.8

 

 

 

2.0

 

 

 

31.2

 
(a)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(b)
Other segment items for each reportable segment include:

Americas — amortization expense and restructuring expense.

EURAF — restructuring expense.

(c)
The amount of depreciation and amortization disclosed by reportable segment is included within cost of sales or engineering, selling, and administration costs, as applicable.

 

 

Three Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2025

 

 

 

Americas

 

 

EURAF

 

 

MEAP

 

 

Total

 

 

Americas

 

 

EURAF

 

 

MEAP

 

 

Total

 

Revenues from external customers

 

$

306.4

 

 

$

163.2

 

 

$

83.8

 

 

$

553.4

 

 

$

888.9

 

 

$

461.3

 

 

$

213.6

 

 

$

1,563.8

 

Less: (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

246.2

 

 

 

140.0

 

 

 

64.6

 

 

 

450.8

 

 

 

717.4

 

 

 

394.1

 

 

 

160.9

 

 

 

1,272.4

 

Engineering, selling, and administration costs

 

 

33.8

 

 

 

33.3

 

 

 

6.2

 

 

 

73.3

 

 

 

99.5

 

 

 

101.9

 

 

 

18.5

 

 

 

219.9

 

Other segment items (b)

 

 

0.9

 

 

 

0.1

 

 

 

—

 

 

 

1.0

 

 

 

2.7

 

 

 

1.4

 

 

 

-

 

 

 

4.1

 

Segment operating income (loss)

 

 

25.5

 

 

 

(10.2

)

 

 

13.0

 

 

 

28.3

 

 

 

69.3

 

 

 

(36.1

)

 

 

34.2

 

 

 

67.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of segment operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

(9.8

)

 

 

 

 

 

 

 

 

 

 

 

(27.7

)

Amortization of deferred financing fees

 

 

 

 

 

 

 

 

 

 

 

(0.4

)

 

 

 

 

 

 

 

 

 

 

 

(1.1

)

Other income (expense) - net

 

 

 

 

 

 

 

 

 

 

 

(0.8

)

 

 

 

 

 

 

 

 

 

 

 

(4.8

)

Unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other corporate expenses

 

 

 

 

 

 

 

 

 

 

 

(9.8

)

 

 

 

 

 

 

 

 

 

 

 

(33.8

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

$

7.5

 

 

 

 

 

 

 

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Segment Disclosures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization (c)

 

 

8.7

 

 

 

5.5

 

 

 

0.7

 

 

 

14.9

 

 

 

26.0

 

 

 

16.4

 

 

 

2.1

 

 

 

44.5

 

Capital expenditures

 

 

2.5

 

 

 

4.7

 

 

 

0.5

 

 

 

7.7

 

 

 

11.8

 

 

 

10.2

 

 

 

2.0

 

 

 

24.0

 
(a)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(b)
Other segment items for each reportable segment include:

Americas — amortization expense and restructuring expense.

EURAF — restructuring expense.

(c)
The amount of depreciation and amortization disclosed by reportable segment is included within cost of sales or engineering, selling, and administration costs, as applicable.
Schedule of Net Sales by Geographic Area

Net sales by geographic area for the three and nine months ended September 30, 2026 and 2025 are summarized as follows:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

United States

 

$

294.4

 

 

$

277.9

 

 

$

798.1

 

 

$

805.3

 

Europe

 

 

179.3

 

 

 

157.5

 

 

 

522.8

 

 

 

446.6

 

Other

 

 

140.1

 

 

 

118.0

 

 

 

382.4

 

 

 

311.9

 

Total net sales

 

$

613.8

 

 

$

553.4

 

 

$

1,703.3

 

 

$

1,563.8

 
Schedule of Net Sales By Product

New machine and non-new machine sales for the three and nine months ended September 30, 2026 and 2025 are summarized as follows:

 

 

 

Three Months Ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

New machine sales

 

$

439.7

 

 

$

376.0

 

 

$

1,191.3

 

 

$

1,064.2

 

Non-new machine sales

 

 

174.1

 

 

 

177.4

 

 

 

512.0

 

 

 

499.6

 

Total net sales

 

$

613.8

 

 

$

553.4

 

 

$

1,703.3

 

 

$

1,563.8