Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Sales by Significant Product Group

The following table presents information about our reportable segments, reconciled to consolidated totals:

	Three Months Ended March 31,
($ in millions)	2024		2023
Net sales:
Proprietary Products	$	559.5	$	583.1
Contract-Manufactured Products	135.9		133.5
Consolidated net sales	$	695.4	$	716.6

Schedule of Segment Reporting Information, by Segment

The following table provides summarized financial information for our segments:

	Three Months Ended March 31,
($ in millions)	2024		2023
Proprietary Products	$	126.3	$	170.7
Contract-Manufactured Products	17.1		17.4
Total business segment operating profit	$	143.4	$	188.1
Corporate and Unallocated
Stock-based compensation expense	$	(5.0)	$	(8.5)
Corporate general costs (1)	(15.4)		(14.7)
Unallocated Items:
Loss on disposal of plant (2)	—		(9.4)
Amortization of acquisition-related intangible assets (3)	(0.2)		(0.2)
Total Corporate and Unallocated	(20.6)		(32.8)
Total consolidated operating profit	$	122.8	$	155.3
Interest (income) expense, net	(4.6)		(2.6)
Income before income taxes and equity in net income of affiliated companies	$	127.4	$	157.9

(1) Corporate general costs includes executive and director compensation, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments.

(2) During the three months ended March 31, 2023, the Company recorded expense of $9.4 million within other expense (income), as a result of the sale of one of the Company's manufacturing facilities within the Proprietary Products segment. The transaction closed during the second quarter of 2023.

(3) During the three months ended March 31, 2024 and 2023, we recorded $0.2 million of amortization expense within operating profit associated with an intangible asset acquired during the second quarter of 2020.

Please refer to Note 14, Other Expense (Income), for further discussion of certain unallocated items referenced above.