v3.26.1
Segment Information (Notes)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information
15. Segment Information

The Company's two reportable segments are Precision Devices and MedTech & Specialty Audio. Information regarding the Company’s reportable segments is as follows:
Three Months Ended March 31, 2026
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$85.1 $68.0 $153.1 
Adjusted cost of goods sold51.7 31.6 83.3 
Adjusted research and development expenses4.6 5.0 9.6 
Adjusted selling and administrative expenses13.7 3.7 17.4 
Segment adjusted earnings before interest and income taxes$15.1 $27.7 $42.8 
Less:
Corporate expenses12.7 
Stock-based compensation expense10.4 
Intangibles amortization expense4.0 
Interest expense, net1.5 
Restructuring charges0.2 
Production transfer costs0.9 
Other (1)
2.6 
Plus:
Transition services credit0.5 
Earnings before income taxes and discontinued operations$11.0 
(1)    Other expenses include certain foreign currency exchange rate adjustments.
Three Months Ended March 31, 2025
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$72.5 $59.7 $132.2 
Adjusted cost of goods sold46.6 30.6 77.2 
Adjusted research and development expenses3.9 4.5 8.4 
Adjusted selling and administrative expenses11.3 3.4 14.7 
Other segment items (1)
— (0.1)(0.1)
Segment adjusted earnings before interest and income taxes$10.7 $21.3 $32.0 
Less:
Corporate expenses10.3 
Stock-based compensation expense10.2 
Intangibles amortization expense4.0 
Restructuring charges2.9 
Interest expense, net2.7 
Production transfer costs0.2 
Acquisition-related costs0.5 
Other (2)
1.1 
Plus:
Transition services credit0.7 
Earnings before income taxes and discontinued operations$0.8 
(1)     Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(2)    Other expenses include certain foreign currency exchange rate adjustments and non-recurring professional service fees related to the execution of various reorganization projects.
Information regarding assets of the Company's reportable segments is as follows:
Total Assets
(in millions)March 31, 2026December 31, 2025
Precision Devices$569.7 $554.7 
MedTech & Specialty Audio388.5 399.7 
Corporate (1)
95.7 96.7 
Total$1,053.9 $1,051.1 
(1) Corporate assets at both March 31, 2026 and December 31, 2025 include $83.4 million of Syntiant preferred stock received in partial consideration for the sale of CMM on December 27, 2024 and a note receivable from Syntiant totaling $5.9 million. Corporate assets also include the portion of right-of-use operating lease assets subleased by Syntiant, which totaled $5.2 million at both March 31, 2026 and December 31, 2025.

The following table details revenues by geographic location. Revenues are attributed to regions based on the location of the Company's direct customer, which in some instances is an intermediary and not necessarily the end user. The Company's businesses are based primarily in North America, Asia, and Europe.
 Three Months Ended March 31,
(in millions)20262025
United States$65.0 $55.3 
Asia57.9 48.0 
Europe24.4 24.2 
Other Americas3.7 2.4 
Other2.1 2.3 
Total$153.1 $132.2 

Receivables, net from contracts with customers were $95.1 million and $91.7 million as of March 31, 2026 and December 31, 2025, respectively. As of March 31, 2026 and December 31, 2025, our total remaining performance obligations were immaterial.