v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company has two reportable segments. Business units are organized under each reportable segment because they share certain characteristics, such as technology, marketing, distribution, and product application, which are expected to create long-term synergies.
The following tables summarize the Company’s financial performance by reportable segment and include reconciliations of segment operating income to consolidated Income before income taxes for the three months ended March 31, 2026 and 2025:
Three Months ended March 31, 2026
(in millions of dollars)Environmental Solutions Safety and Security SystemsTotal
Net sales (a)
$532.7 $92.9 $625.6 
Less: Cost of sales393.8 52.4 446.2 
Gross profit138.9 40.5 179.4 
Less:
Selling, engineering, general, and administrative expenses43.3 16.9 60.2 
Other segment items (b)
6.5 — 6.5 
Segment operating income89.1 23.6 112.7 
Reconciliation to income before income taxes:
All other (income) loss (c)
13.0 
Interest expense, net6.9 
Other expense, net0.6 
Income before income taxes$92.2 
(a)    Represents net sales from external customers. Intersegment net sales are insignificant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations.
(b)    Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group.
(c)    Represents general corporate expenses.
Three Months Ended March 31, 2025
(in millions of dollars)Environmental Solutions Safety and Security SystemsTotal
Net sales (a)
$387.4 $76.4 $463.8 
Less: Cost of sales288.4 44.6 333.0 
Gross profit99.0 31.8 130.8 
Less:
Selling, engineering, general, and administrative expenses34.9 16.0 50.9 
Other segment items (b)
4.4 — 4.4 
Segment operating income59.7 15.8 75.5 
Reconciliation to income before income taxes:
All other (income) loss (c)
9.8 
Interest expense, net3.0 
Other expense, net0.7 
Income before income taxes$62.0 
(a)    Represents net sales from external customers. Intersegment net sales are insignificant. Total of segment net sales agrees to Net sales on the Condensed Consolidated Statement of Operations.
(b)    Other segment items includes amortization expense and acquisition and integration-related expenses, net, within the Environmental Solutions Group.
(c)    Represents general corporate expenses.
The following table summarizes the Company’s total depreciation and amortization by reportable segment and includes a reconciliation of total segment depreciation and amortization to total depreciation and amortization for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
(in millions of dollars)20262025
Depreciation and amortization:
Environmental Solutions (a)
$22.6 $17.6 
Safety and Security Systems (a)
1.1 1.0 
Total segment depreciation and amortization23.7 18.6 
Corporate0.1 0.1 
Total depreciation and amortization$23.8 $18.7 
(a)    The amounts of depreciation and amortization disclosed by reportable segment are included within cost of sales; selling, engineering, general, and administrative expenses; and other segment items in the tables above.
The following table summarizes the Company’s total assets by reportable segment and includes a reconciliation of total segment assets to total assets as of March 31, 2026 and December 31, 2025:
(in millions of dollars)March 31,
2026		December 31, 2025
Total assets:
Environmental Solutions$2,102.2 $2,040.7 
Safety and Security Systems306.0 303.5 
Total segment assets2,408.2 2,344.2 
Corporate and eliminations46.2 48.4 
Total assets$2,454.4 $2,392.6 
The following table summarizes the Company’s total capital expenditures by reportable segment and includes a reconciliation of total segment capital expenditures to total capital expenditures for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
(in millions of dollars)20262025
Capital expenditures
Environmental Solutions$5.1 $4.4 
Safety and Security Systems1.5 0.8 
Total segment capital expenditures6.6 5.2 
Corporate0.1 0.4 
Total capital expenditures$6.7 $5.6