Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment operating results and other financial data for the years ended December 31, 2021, 2020, and 2019 were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in millions)
Sales
Sealing Technologies	$	599.8	$	636.7	$	762.4
Advanced Surface Technologies	247.3		171.2		120.2
Engineered Materials	302.4		275.0		331.3
	1,149.5		1,082.9		1,213.9
Intersegment sales	(7.7)		(8.9)		(8.2)
Total sales	$	1,141.8	$	1,074.0	$	1,205.7

Adjusted Segment EBITDA
Sealing Technologies	$	141.4	$	131.0	$	131.4
Advanced Surface Technologies	73.2		47.1		23.5
Engineered Materials	43.3		32.5		53.7
Total Adjusted Segment EBITDA	$	257.9	$	210.6	$	208.6

Reconciliation of Adjusted Segment EBITDA to income (loss) from continuing operations before income taxes
Adjusted Segment EBITDA	$	257.9	$	210.6	$	208.6
Acquisition and divestiture expenses	(0.4)		(9.6)		(8.4)
Non-controlling interest compensation allocation	(5.3)		(2.9)		(0.5)
Amortization of fair value adjustment to acquisition date inventory	(9.9)		(3.0)		—
Restructuring and impairment expense	(6.0)		(30.6)		(8.7)
Depreciation and amortization expense	(75.6)		(70.7)		(67.9)
Corporate expenses	(62.9)		(37.9)		(36.4)
Interest expense, net	(13.7)		(14.9)		(18.2)
Other income (expense), net	128.3		(67.8)		(64.2)
Income (loss) from continuing operations before income taxes	$	212.4	$	(26.8)	$	4.3

Below is a summary of our third-party sales by major end market with which we did business for the years ended December 31, 2021, 2020 and 2019:


	Year Ended December 31, 2021
	(in millions)
	Sealing Technologies		Advanced Surface Technologies		Engineered Materials		Total
Aerospace	$	32.1	$	9.8	$	6.1	$	48.0
Automotive	2.2		0.9		60.4		63.5
Chemical and material processing	72.5		—		42.8		115.3
Food and pharmaceutical	65.1		—		1.5		66.6
General industrial	161.8		25.7		115.2		302.7
Medium-duty/heavy-duty truck	174.3		—		9.6		183.9
Oil and gas	19.0		4.6		61.3		84.9
Power generation	43.6		0.2		3.0		46.8
Semiconductors	14.6		203.6		—		218.2
Other	8.1		2.4		1.4		11.9
Total third-party sales	$	593.3	$	247.2	$	301.3	$	1,141.8


	Year Ended December 31, 2020
	(in millions)
	Sealing Technologies		Advanced Surface Technologies		Engineered Materials		Total
Aerospace	$	35.5	$	8.0	$	5.4	$	48.9
Automotive	2.1		0.1		55.9		58.1
Chemical and material processing	53.0		—		43.9		96.9
Food and pharmaceutical	52.3		—		1.6		53.9
General industrial	160.7		2.9		88.2		251.8
Medium-duty/heavy-duty truck	241.7		—		6.8		248.5
Oil and gas	20.5		2.1		64.1		86.7
Power generation	43.6		—		7.5		51.1
Semiconductors	14.6		157.1		—		171.7
Other	4.9		0.9		0.6		6.4
Total third-party sales	$	628.9	$	171.1	$	274.0	$	1,074.0


	Year Ended December 31, 2019
	(in millions)
	Sealing Technologies		Advanced Surface Technologies		Engineered Materials		Total
Aerospace	$	46.9	$	10.5	$	12.0	$	69.4
Automotive	7.0		—		81.5		88.5
Chemical and material processing	48.0		—		48.3		96.3
Food and pharmaceutical	38.8		—		0.9		39.7
General industrial	174.9		1.3		88.6		264.8
Medium-duty/heavy-duty truck	340.9		—		1.2		342.1
Oil and gas	25.2		4.8		83.1		113.1
Power generation	47.7		—		9.5		57.2
Semiconductors	12.2		103.5		—		115.7
Other	13.8		0.1		5.0		18.9
Total third-party sales	$	755.4	$	120.2	$	330.1	$	1,205.7


	Years Ended December 31,
	2021		2020		2019
	(in millions)
Capital Expenditures
Sealing Technologies	$	6.3	$	8.0	$	12.7
Advanced Surface Technologies	8.6		5.3		1.5
Engineered Materials	3.9		4.9		7.4
Corporate	—		0.1		—
Total capital expenditures	$	18.8	$	18.3	$	21.6

Depreciation and Amortization Expense
Sealing Technologies	$	30.6	$	36.5	$	45.0
Advanced Surface Technologies	32.9		20.0		7.0
Engineered Materials	12.1		14.2		15.9
Corporate	0.2		0.1		—
Total depreciation and amortization	$	75.8	$	70.8	$	67.9


	As of December 31,
	2021		2020
	(in millions)
Assets
Sealing Technologies	$	697.5	$	741.9
Advanced Surface Technologies	1,686.5		768.2
Engineered Materials	160.3		245.8
Corporate	425.5		327.7

	$	2,969.8	$	2,083.6