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Business Segments
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company operates under two business segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The measure of segment EBITDA categorically excludes income taxes, depreciation and amortization, corporate expenses, net interest expense, closed operations and other expenses, charges for goodwill and asset impairments, restructuring and other credits/charges, strike related costs, pension remeasurement gains/losses, debt extinguishment charges and gains or losses on asset sales and sales of businesses. Management believes segment EBITDA, as defined, provides an appropriate measure of controllable operating results at the business segment level. Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions):
Quarter ended
 March 31, 2024April 2, 2023
Total sales:
High Performance Materials & Components$571.9 $529.6 
Advanced Alloys & Solutions560.7 625.8 
1,132.6 1,155.4 
Intersegment sales:
High Performance Materials & Components42.0 58.5 
Advanced Alloys & Solutions47.7 58.8 
89.7 117.3 
Sales to external customers:
High Performance Materials & Components529.9 471.1 
Advanced Alloys & Solutions513.0 567.0 
$1,042.9 $1,038.1 
Quarter ended
 March 31, 2024April 2, 2023
EBITDA:
High Performance Materials & Components$97.6 $81.6 
Advanced Alloys & Solutions71.8 83.7 
Total segment EBITDA169.4 165.3 
Corporate expenses(17.1)(16.9)
Closed operations and other expense(1.3)(1.3)
Depreciation & amortization (a)(36.0)(35.1)
Interest expense, net(26.6)(19.9)
Restructuring and other charges(3.1)(1.2)
Income before income taxes$85.3 $90.9 
a) The following is depreciation & amortization by each business segment:
Quarter ended
March 31, 2024April 2, 2023
High Performance Materials & Components$16.3 $17.4 
Advanced Alloys & Solutions18.0 16.1 
Other1.7 1.6 
$36.0 $35.1 
Restructuring and other charges of $3.1 million for the quarter ended March 31, 2024 include $2.9 million of start up costs, which are included within cost of sales on the consolidated statements of operations, and $0.2 million of restructuring charges (see Note 6). Restructuring and other charges for the quarter ended April 2, 2023 include $1.2 million of start up costs, which are classified within cost of sales on the consolidated statements of operations.