Mativ (MATV) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-13948
Entity Registrant Name	MATIV HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	62-1612879
Entity Address, Address Line One	100 Kimball Pl,
Entity Address, Postal Zip Code	30009
Entity Address, City or Town	Alpharetta,
Entity Address, State or Province	GA
City Area Code	770
Local Phone Number	569-4229
Title of 12(b) Security	Common stock, $0.10 par value
Trading Symbol	MATV
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 908.9
Entity Common Stock, Shares Outstanding		54,517,608
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement relating to its 2023 Annual Meeting of Stockholders scheduled to be held on April 24, 2024 (the "2024 Proxy Statement") and filed pursuant to Regulation 14A are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001000623
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 1,981.1	$ 2,026	$ 1,636.9
Cost of products sold	1,617	1,670.2	1,330.9
Gross profit	364.1	355.8	306
Selling and general expense	233.8	263.9	254.9
Research and development expense	23	21.2	18.8
Intangible asset amortization expense	62.9	61	53.4
Total nonmanufacturing expenses	319.7	346.1	327.1
Goodwill impairment expense	0	401	0
Restructuring and other impairment expense	38.1	22.6	19.1
Operating profit (loss)	6.3	(413.9)	(40.2)
Interest expense	74.7	62.2	57.3
Loss on debt extinguishment	7.3	0	0
Other income (expense), net	(3.2)	(4.8)	1
Loss from continuing operations before income taxes	(78.9)	(480.9)	(96.5)
Income tax expense (benefit)	(30.2)	26.8	(27.6)
Net loss from continuing operations	(48.7)	(507.7)	(68.9)
Income from discontinued operations, net of tax	0	198.2	62.3
Net loss	$ (48.7)	$ (309.5)	$ (6.6)
Net income (loss) per share - basic:
Loss per share from continuing operations (in dollars per share)	$ (0.90)	$ (9.33)	$ (1.64)
Income per share from discontinued operations (in dollars per share)	0	3.64	1.46
Basic (in dollars per share)	(0.90)	(5.69)	(0.18)
Net income (loss) per share – diluted:
Loss per share from continuing operations (in dollars per share)	(0.90)	(9.33)	(1.64)
Income per share from discontinued operations (in dollars per share)	0	3.64	1.46
Diluted (in dollars per share)	$ (0.90)	$ (5.69)	$ (0.18)
Weighted average shares outstanding:
Basic (in shares)	54,313,300	54,506,900	42,442,200
Diluted (in shares)	54,313,300	54,506,900	42,442,200

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (48.7)	$ (309.5)	$ (6.6)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments(1)	[1]	(17.6)	160.4	(26.2)
Unrealized gain (loss) on derivative instruments		(8)	(16.5)	46.3
Net gain (loss) from postretirement benefit plans		(0.4)	(9.4)	3.5
Other comprehensive income (loss)		(26)	134.5	23.6
Comprehensive income (loss)		$ (74.7)	$ (175)	$ 17
[1] (1) Includes $124.9 million reclassification of foreign currency translation adjustment due to sale of a business, net of tax, for the year ended December 31, 2023.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Statement of Comprehensive Income [Abstract]
Reclassification of foreign currency translation adjustments	$ 124.9

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 94.3	$ 120.2
Accounts receivable, net	162.4	176.5
Inventories, net	355.1	352.9
Income taxes receivable	20.6	30.6
Other current assets	25.7	32.3
Total current assets	658.1	712.5
Property, plant and equipment, net	620.3	672.5
Finance lease right-of-use assets	16.2	18.2
Operating lease right-of-use assets	46.4	45.6
Deferred income tax assets	8.1	6.4
Goodwill	465.6	474.1
Intangible assets, net	553.4	631.3
Other assets	79.8	81.8
Total assets	2,447.9	2,642.4
LIABILITIES AND STOCKHOLDERS' EQUITY
Current debt	2.6	2.8
Finance lease liabilities	1.6	1.4
Operating lease liabilities	9.5	9.9
Accounts payable	151.7	139.3
Income taxes payable	8.4	14.3
Accrued expenses and other current liabilities	100.7	113.7
Total current liabilities	274.5	281.4
Long-term debt	1,086.7	1,101.8
Finance lease liabilities, noncurrent	16.3	18.2
Operating lease liabilities, noncurrent	36.4	35.3
Long-term income tax payable	0	7.7
Pension and other postretirement benefits	54.3	62.2
Deferred income tax liabilities	100.9	142.3
Other liabilities	20.3	44.4
Total liabilities	1,589.4	1,693.3
Stockholders' equity:
Preferred stock, $0.10 par value per share; 10,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.10 par value per share; 100,000,000 shares authorized; 54,335,830 and 54,211,124 shares issued and outstanding at December 31, 2024 and 2023, respectively	5.4	5.4
Additional paid-in-capital	675.7	669.6
Retained earnings	164.3	235
Accumulated other comprehensive income, net of tax	13.1	39.1
Total stockholders' equity	858.5	949.1
Total liabilities and stockholders' equity	$ 2,447.9	$ 2,642.4

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	54,335,830	54,211,124
Common stock, shares outstanding (in shares)	54,335,830	54,211,124

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions		Total	Common Stock Issued	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Dec. 31, 2021			31,449,563
Balance at Dec. 31, 2021		$ 682.2	$ 3.1	$ 101.7	$ 696.4	$ (119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(6.6)			(6.6)
Other comprehensive income (loss), net of tax		23.6				23.6
Dividends paid		(72.2)			(72.2)
Restricted stock issuances, net (in shares)			867,897
Restricted stock issuances, net		0	$ 0.1	(0.1)
Stock-based employee compensation expense		20.2		20.2
Stock issued to directors as compensation (in shares)			10,079
Stock issued to directors as compensation		1.1		1.1
Deferred compensation directors stock trust (in shares)			60,899
Purchases and retirement of common stock (in shares)			(273,027)
Purchases and retirement of common stock		(6.9)			(6.9)
Issuance of shares related to Merger (in shares)			22,814,562
Issuance of shares related to Merger		537.9	$ 2.3	535.6
Balance (in shares) at Dec. 31, 2022			54,929,973
Balance at Dec. 31, 2022		1,179.3	$ 5.5	658.5	610.7	(95.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(309.5)			(309.5)
Other comprehensive income (loss), net of tax		134.5				134.5
Dividends paid		(55.7)			(55.7)
Restricted stock issuances, net (in shares)			(76,947)
Stock options exercised (in shares)			813
Stock-based employee compensation expense		10.2		10.2
Stock issued to directors as compensation (in shares)			16,431
Stock issued to directors as compensation		1		1
Purchases and retirement of common stock (in shares)			(659,146)
Purchases and retirement of common stock		$ (10.7)	$ (0.1)	(0.1)	(10.5)
Balance (in shares) at Dec. 31, 2023		54,211,124	54,211,124
Balance at Dec. 31, 2023		$ 949.1	$ 5.4	669.6	235	39.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(48.7)			(48.7)
Other comprehensive income (loss), net of tax		(26)				(26)
Dividends paid		(22)			(22)
Restricted stock issuances, net (in shares)			106,538
Restricted stock issuances, net		0
Stock-based employee compensation expense	[1]	5.9		5.9
Stock issued to directors as compensation (in shares)			18,168
Stock issued to directors as compensation		1		1
Shares withheld for employee taxes		$ (0.8)		(0.8)
Balance (in shares) at Dec. 31, 2024		54,335,830	54,335,830
Balance at Dec. 31, 2024		$ 858.5	$ 5.4	$ 675.7	$ 164.3	$ 13.1
[1] (1) Includes the impact of the equity-to-liability modification of certain restricted stock awards.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.40	$ 1	$ 1.68

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating
Net loss	$ (48.7)	$ (309.5)	$ (6.6)
Less: Income from discontinued operations	0	(198.2)	(62.3)
Loss from continuing operations	(48.7)	(507.7)	(68.9)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	143.8	147.8	109.9
Amortization of deferred issuance costs	7.8	7.6	6.4
Goodwill Impairment	0	401	0
Other impairments	16.2	18.2	13.8
Deferred income tax	(34.3)	23.8	(28.9)
Pension and other postretirement benefits	(5.9)	(8.3)	(6.5)
Stock-based compensation	11.4	10.5	20.4
Loss (gain) on sale of assets	5.5	0	(2.9)
Loss (gain) on foreign currency transactions	(1.2)	4.8	(7.5)
Loss on debt extinguishment	7.3	0	0
Other non-cash items	(4.8)	(12.7)	2.1
Cash received from settlement of interest swap agreements	0	16.4	23.6
Other operating	(2.4)	(5)	0
Changes in operating working capital, net of assets acquired:
Accounts receivable	6.3	2	157.1
Inventories	(26)	52.2	(62.9)
Prepaid expenses	2.2	(0.2)	(0.2)
Accounts payable and other current liabilities	20.6	(64.4)	(15.3)
Accrued income taxes	(3)	(9.4)	(15.6)
Net changes in operating working capital	0.1	(19.8)	63.1
Continuing operations	94.8	76.6	124.6
Discontinued operations	0	30	77.6
Net cash provided by operations	94.8	106.6	202.2
Investing
Capital spending	(55)	(66)	(45.6)
Capitalized software costs	(0.6)	(0.4)	(2.6)
Acquisitions, net of cash acquired	0	0	(462.5)
Proceeds from sale of assets	5.8	0	7.5
Cash (paid) received from settlement of cross-currency swap contracts	(1.7)	0	35.8
Other investing	6.8	5	(1.9)
Continuing operations	(44.7)	(61.4)	(469.3)
Discontinued operations	(12)	608.6	(12)
Net cash provided by (used in) investing	(56.7)	547.2	(481.3)
Financing
Cash dividends paid	(21.6)	(55.3)	(72.2)
Proceeds from long-term debt	531	241	774.9
Payments on long-term debt	(554.7)	(834.6)	(340.6)
Payments for debt issuance costs	(8.3)	(1.5)	(22.1)
Payments on financing lease obligations	(1.5)	(1)	(0.6)
Purchases of common stock and shares withheld for employee taxes	(0.8)	(10.6)	(6.9)
Continuing operations	(55.9)	(662)	332.5
Discontinued operations	0	(0.9)	(1)
Net cash provided by (used in) financing	(55.9)	(662.9)	331.5
Effect of exchange rate changes on cash and cash equivalents	(8.1)	4.9	(2.7)
Increase (decrease) in cash and cash equivalents	(25.9)	(4.2)	49.7
Cash and cash equivalents at beginning of period	120.2	124.4	74.7
Cash and cash equivalents at end of period	94.3	120.2	124.4
Cash and cash equivalents	94.3	120.2	101.1
Cash and cash equivalents included in current assets held for sale of discontinued operations	0	0	23.3
Cash and cash equivalents at end of period	94.3	120.2	124.4
Supplemental Cash Flow Disclosures
Cash paid for interest, net	90.8	121.4	84.6
Cash paid for taxes, net	14.9	37.5	26
Capital spending in accounts payable and accrued liabilities	6.7	10.1	14.6
Merger non-cash consideration	$ 0	$ 0	$ 537.9

General

General	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Nature of Business Organization and operations - Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers’ most complex challenges by engineering bold, innovative solutions that connect, protect, and purify our world. Mativ manufactures globally through our family of business-to-business and consumer product brands. Mativ targets premium applications across diversified and growing end-markets, from filtration to healthcare to sustainable packaging and more. Our broad portfolio of technologies combines polymers, fibers, and resins to optimize the performance of our customers’ products across multiple stages of the value chain. On July 6, 2022, SWM completed a merger transaction involving Neenah, Inc. ("Neenah"). A wholly-owned subsidiary of SWM merged with and into Neenah, with Neenah surviving the Merger as a direct and wholly-owned subsidiary of SWM. Effective as of the closing date of the Merger, SWM changed its name to Mativ Holdings, Inc. ("Mativ," "we," "our," or the "Company"). On November 30, 2023, the Company completed the sale of the Engineered Papers business ("EP business") to Evergreen Hill Enterprise Pte. Ltd. ("Evergreen Hill Enterprise"). With the sale of the EP business (the "EP Divestiture"), Mativ ceased participating in tobacco-based products markets. Reportable Segments - As part of an organizational realignment initiative (the "Plan") effective during the first quarter of 2024, we reorganized into two new reportable segments: (1) Filtration & Advanced Materials ("FAM"), focused primarily on filtration media and components, advanced films, coating and converting solutions, and extruded mesh products, and (2) Sustainable & Adhesive Solutions ("SAS"), focused primarily on tapes, labels, liners, specialty paper, packaging and healthcare solutions. The change in reportable segments reflects the realignment of management and the related internal review of our operating segments. The prior period presentation has been recasted to align with our current segment reporting structure. Basis of Presentation The accompanying consolidated financial statements and the notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company believes the estimates and assumptions used in the preparation of these consolidated financial statements are reasonable, based upon currently available facts and known circumstances. Actual results may differ from those estimates and assumptions as a result of a number of factors, including those discussed elsewhere in this report and in its other public filings from time to time. Reclassifications Selling expense and General expense prior year amounts in the Consolidated Statements of Income (Loss) have been reclassified to Selling and general expense and Intangible asset amortization expense to conform to the current year presentation for comparative purposes. Certain prior year amounts in the Consolidated Statements of Comprehensive Income (Loss) have been reclassified to conform to the current year presentation for comparative purposes. Certain prior year amounts in the Notes to Consolidated Financial Statements have been reclassified to conform to the current year segments for comparative purposes. Principles of Consolidation The consolidated financial statements include the accounts of the Company and wholly-owned, majority-owned and controlled subsidiaries. Effective with the sale, the EP business is presented as a discontinued operation for all periods presented. The consolidated financial statements and the notes thereto, unless otherwise indicated, are on a continuing operations basis. Refer to Note 9. Discontinued Operations for more information on the discontinued operation and transaction. The financial statements and information set forth herein are as of and for the year ended December 31, 2024 and represent the merged company operations of SWM and Neenah and their respective subsidiaries on a consolidated basis effective as of July 6, 2022 as a result of the Merger. Because SWM was deemed the accounting acquirer under GAAP, the historical financial statements of SWM are presented as the historical financial statements of the consolidated company prior to the Merger. Accordingly, references to "Mativ," "the Company," "we," or "our" means SWM and its subsidiaries when referring to periods prior to the Merger, and means Mativ Holdings, Inc. when referring to the periods after the Merger. Use of Estimates The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the revenues and expenses during the reporting period. Actual results could differ significantly from these estimates. The significant estimates underlying our consolidated financial statements include, but are not limited to, inventory valuation, goodwill valuation, useful lives of tangible and intangible assets, business acquisitions, equity-based compensation, derivatives, receivables valuation, pension, postretirement and other benefits, taxes and contingencies.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Revenue Recognition The Company recognizes revenues when control of a product is transferred to the customer. Control is transferred when the products are shipped from one of the Company’s manufacturing facilities to the customer. Any freight costs billed to and paid by a customer are included in net sales. Refer to Note 3. Revenue Recognition for additional information. Freight Costs The cost the Company pays to deliver finished goods to our customers is recorded as a component of cost of products sold. These costs include the amounts paid to a third party to deliver the finished goods. Royalty Income Royalties from third-party patent licenses are recognized when earned, including monies received at an agreement's initiation attributable to past sales. The Company recognizes up-front payments upon receipt when it has no future performance requirement or ongoing obligation arising from its agreements and the payment is for a separate earnings process. Minimum annual royalties received in advance are deferred and are recognized in the period earned. The Company recognized $4.4 million and $6.9 million of royalty income during the years ended December 31, 2023 and 2022 respectively, which was included in Net sales in the Consolidated Statements of Income (Loss). There was no royalty income for the year ended December 31, 2024. Foreign Currency Translation The income statements of foreign entities are translated into U.S. dollars at average exchange rates prevailing during the periods presented. The balance sheets of these entities are translated at period-end exchange rates, and the differences from historical exchange rates are reflected in a separate component of Accumulated other comprehensive income (loss), net of tax ("AOCI") in the Consolidated Balance Sheets as unrealized foreign currency translation adjustments. Foreign currency risks arise from transactions and balances denominated in non-local currencies. Gains and losses resulting from remeasurement and settlement of such transactions and balances, net of currency hedge impacts, included in Other income (expense), net, in the Consolidated Statements of Income (Loss) were losses of $3.0 million, $1.7 million, and $1.8 million during the years ended December 31, 2024, 2023 and 2022, respectively. Derivative Instruments The Company is exposed to changes in foreign currency exchange rates, interest rates and commodity prices. The Company utilizes a variety of practices to manage these market risks, including where considered appropriate, derivative instruments. The Company uses derivative instruments only for risk management purposes and not for trading or speculation. All derivative instruments the Company uses are either exchange traded or are entered into with major financial institutions in order to reduce credit risk and risk of nonperformance by third parties. The Company believes the credit risks with respect to the counterparties, and the foreign currency risks that would not be hedged if the counterparties fail to fulfill their obligations under the contracts, are not material in view of its understanding of the financial strength of the counterparties. Gains and losses on instruments that hedge firm commitments are deferred and included in the basis of the underlying hedged items. All other hedging gains and losses are included in period income or expense based on the period-end market price of the instrument and are included in the Company's operating cash flows. Refer to Note 14. Derivatives for additional information. Cash and Cash Equivalents The Company considers all highly liquid, unrestricted investments with remaining maturities of three months or less to be cash equivalents, including money market funds with no restrictions on withdrawals. Contractually restricted cash included in Cash and cash equivalents in the Consolidated Balance Sheets was $0.6 million at December 31, 2024, 2023 and 2022. Notional Cash Pooling On November 15, 2022, certain of the Company’s subsidiaries entered into a notional cash pooling arrangement with a third-party financial institution to manage global liquidity requirements. As part of the pooling agreement, the participating subsidiaries combine their cash balances in pooling accounts at the financial institution with the ability to offset bank overdrafts of one participant against the positive cash account balances held by another participant. Under the terms of the notional pooling agreement, the financial institution has the right, ability, and intent to offset a positive balance in one account against an overdrawn amount in another account. Amounts in each of the accounts are unencumbered and unrestricted with respect to use. As such, the net cash balance related to this pooling arrangement is included in Cash and cash equivalents in the Consolidated Balance Sheets. Business Combinations The Company uses the acquisition method of accounting for business combinations. At the acquisition date, the Company records assets acquired and liabilities assumed at their respective fair market values. The Company estimates fair value using the exit price approach which is the price that would be received to sell an asset or paid to transfer a liability in an orderly market. An exit price is determined from a market participant's viewpoint in the principal or most advantageous market and may result in the Company valuing assets or liabilities at a fair value that is not reflective of the Company's intended use of the assets or liabilities. Any excess consideration above the estimated fair values of the net assets acquired is recognized as Goodwill in the Company's Consolidated Balance Sheets. The operating results of acquired businesses are included in the Company's results of operations beginning as of their effective acquisition dates. Acquisition costs are expensed as incurred and were $45.5 million during the year ended December 31, 2022. There were no acquisition costs during the years ended December 31, 2024 and 2023. Impairment of Long-Lived Assets, Goodwill, and Intangible Assets The Company evaluates the carrying value of long-lived assets, including property and equipment, operating lease right-of-use assets, goodwill, and intangible assets when events and circumstances warrant a review. Goodwill is also tested for impairment annually during the fourth quarter. We first evaluate qualitative factors, such as macroeconomic conditions and our overall financial performance by reporting unit to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. We then evaluate how significant each of the identified factors could be to the fair value or carrying amount of a reporting unit and weigh these factors in totality in forming a conclusion of whether or not it is more likely than not that the fair value of a reporting unit is less than its carrying amount (the “Step 0 Test”). Goodwill is not impaired if we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. Otherwise, we would proceed to the goodwill impairment test. Alternatively, we may also bypass the Step 0 Test and proceed directly to the goodwill impairment test, where the fair value of the reporting unit is compared to the carrying value. The difference between the total fair value of the reporting unit and the carrying value is recognized as an impairment to the reporting unit's goodwill. Refer to Note 10. Goodwill for further discussion of the Company's annual impairment test results. During the year ended December 31, 2023, we performed an interim quantitative goodwill impairment test, which resulted in a non-cash impairment charge of $401.0 million in the third quarter of 2023. The quantitative annual assessment as of October 1, 2024, did not result in an impairment. The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, which approximates a straight-line basis, over the estimated periods benefited. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted. Estimated useful lives range from 12 to 23 years for customer relationships and 4 to 23 years for developed technology, patents, and other intangible assets. The carrying value of long-lived assets is reviewed to determine if events or circumstances have changed which may indicate that the assets may be impaired, or the useful life may need to be changed. Upon occurrence of such a triggering event, the Company considers internal and external factors relating to each asset group, including expectation of future profitability, undiscounted cash flows and its plans with respect to the operations. If impairment is indicated, an impairment loss is measured by the amount the net carrying value of the asset exceeds its estimated fair value. Transfers of Financial Assets We account for transfers of our financial assets in accordance with Accounting Standards Codification ("ASC") Topic No. 860, Transfers and Servicing. When a transfer meets all the requirements for a sale of a financial asset, we derecognize the financial asset and record a net gain or loss. Environmental Spending Environmental spending is capitalized if such spending qualifies as property, plant and equipment, substantially increases the economic value or extends the useful life of an asset. All other such spending is expensed as incurred, including fines and penalties incurred in connection with environmental violations. Environmental spending relating to an existing condition caused by past operations is expensed. Liabilities are accrued when environmental assessments are probable, and the costs can be reasonably estimated. Generally, timing of these accruals coincides with completion of a feasibility study or commitment to a formal plan of action. Capitalized Software Costs The Company capitalizes certain purchases of software and software development costs in connection with major projects of software development for internal use. These costs are included in Other assets on the Consolidated Balance Sheets and are amortized using the straight-line method over the estimated useful life not to exceed seven years. Costs associated with business process redesign, end-user training, system start-up and ongoing software maintenance are expensed as incurred. Amortization of capitalized software was $3.2 million, $5.0 million, and $4.4 million during the years ended December 31, 2024, 2023 and 2022, respectively. Accumulated amortization of capitalized software costs was $33.5 million and $30.9 million at December 31, 2024 and 2023, respectively. Income Taxes Our income tax expense, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management’s best estimate of current and future taxes to be paid. We operate and are subject to income taxes in the U.S. and numerous foreign jurisdictions. The complexity of our global structure requires technical expertise in determining the allocation of income to each of these jurisdictions and consolidated income tax expense. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and results of recent operations. If it is determined that the Company would be able to realize the deferred tax assets in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC 740, Income Taxes , on the basis of a two-step process in which it is determined whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Pension and Other Postretirement Benefits Accounting The Company recognizes the estimated compensation cost of employees' pension and other postretirement benefits over their approximate period of service. The Company's earnings are impacted by amounts of expense recorded related to these benefits, which primarily consists of pension benefits in the United States, France, United Kingdom, and Germany. Each year's recorded expenses are estimates based on actuarial calculations of the Company's accumulated and projected benefit obligations ("PBOs") for the Company's various plans. Suspension of additional benefits for future service is considered a curtailment, and if material, necessitates a re-measurement of plan assets and PBO. As part of a re-measurement, the Company adjusts its discount rates and other actuarial assumptions, such as retirement, turnover and mortality table assumptions, as appropriate. Refer to Note 17. Postretirement and Other Benefits for additional information. Comprehensive Income (Loss) Comprehensive income (loss) includes Net Income (Loss), as well as items charged and credited directly to stockholders' equity, which are excluded from Net Income (Loss). The Company has presented Comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). Reclassification adjustments of derivative instruments from Accumulated Other comprehensive income (loss), net of tax are presented in Net sales, Other income (expense), or Interest expense in the Consolidated Statements of Income (Loss). In conjunction with the sale of the EP business, $133.8 million of foreign currency translation adjustments (losses) and $8.9 million of deferred gains associated with net investment hedges settled in prior periods was released from AOCI and recognized within income from discontinued operations, net of tax during the year ended December 31, 2023. Refer to Note 14. Derivatives for additional information. Amortization of accumulated pension and other postretirement benefit ("OPEB") liabilities are included in the computation of net periodic pension and OPEB costs, which are more fully discussed in Note 17. Postretirement and Other Benefits. Components of Accumulated other comprehensive income (loss), net of tax, were as follows (in millions): December 31, 2024 2023 Accumulated pension and OPEB liability adjustments, net of income tax benefit of $4.7 million and $4.3 million at December 31, 2024 and 2023, respectively $ (20.7) $ (20.3) Accumulated unrealized gain on derivative instruments, net of income tax benefit (expense) of $10.2 million and $12.8 million at December 31, 2024 and 2023, respectively 19.9 27.9 Accumulated unrealized foreign currency translation adjustments, net of income tax benefit of $14.6 million and $14.6 million at December 31, 2024 and 2023, respectively 13.9 31.5 Accumulated other comprehensive income, net of tax $ 13.1 $ 39.1 Changes in the components of Accumulated other comprehensive income (loss), net of tax, were as follows (in millions): Years Ended December 31, 2024 2023 2022 Pre-tax Tax Net of Pre-tax Tax Net of Pre-tax Tax Net of Pension and OPEB liability adjustments $ (0.8) $ 0.4 $ (0.4) $ (11.2) $ 1.8 $ (9.4) $ 9.9 $ (6.4) $ 3.5 Derivative instrument adjustments (10.6) 2.6 (8.0) (16.6) 0.1 (16.5) 61.3 (15.0) 46.3 Foreign currency translation adjustments (17.6) — (17.6) 35.4 0.1 35.5 (33.7) 7.5 (26.2) Reclassification of foreign currency translation to income — — — 127.4 (2.5) 124.9 — — — Total $ (29.0) $ 3.0 $ (26.0) $ 135.0 $ (0.5) $ 134.5 $ 37.5 $ (13.9) $ 23.6 Disclosures regarding the amounts reclassified from AOCI to income for pensions and derivatives are separately disclosed in Note 17. Postretirement and Other Benefits and Note 14. Derivatives. Restricted Stock All of the Company's restricted stock unit grants, vest upon completion of a specified period of time, typically between one Long-term Incentive Plan Performance Share Units The Company's long-term incentive compensation program ("LTICP") for key employees includes an equity-based award component that is provided through the Equity and Incentive Plan which the Company adopted in 2024 (the "2024 Plan") to replace the Schweitzer-Mauduit International, Inc. 2015 Long-term Incentive Plan (the "2015 LTIP"). The objectives under the LTICP are established at the beginning of a performance cycle and are intended to focus management on longer-term strategic goals. The Compensation Committee of the Board of Directors designates participants in the LTICP and the 2024 Plan and determines the equity-based award opportunity in the form of performance share units for each performance cycle, which is generally measured on the basis of a three-year performance period (the measurement period). The performance share units are sized after the performance period is completed, and vest at a predetermined date thereafter. The Company recognizes compensation expense with an offsetting credit to additional paid-in-capital over the performance period based on the fair value of the award at the date of grant, with compensation expense being adjusted cumulatively based on the number of shares expected to be earned according to the level of achievement of performance goals. On the Merger date, the Company modified the 2022 and 2021 performance share awards issued under the 2015 LTIP to remove the performance and market conditions for continuing employees, effectively converting the awards to service-only modified awards that cliff vest upon the original date of lapse of restrictions defined in the 2015 LTIP awards. Fair Value Measurements The Company measures fair value in accordance with ASC 820, Fair Value Measurements and Disclosures, which establishes a framework for measuring fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 provides a fair value hierarchy based on the following three categories: • Level 1 - Measurements that reflect unadjusted quoted prices for identical assets or liabilities in active markets. • Level 2 - Measurements that include other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Recently Adopted Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform and the discontinuance of the London Interbank Offered Rate ("LIBOR") if certain criteria are met. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. In December 2022, FASB issued ASU 2022-06 Reference Rate Reform (ASC 848): Deferral of the Sunset Date of Topic 848, which extended the final sunset date from December 31, 2022 to December 31, 2024. The provisions of ASU 2020-04 and ASU 2022-06 were adopted effective April 1, 2022 and did not have a material impact on the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendment enhances reportable segment disclosure requirements, primarily regarding significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of other segment items and expanded interim disclosures that align with those required annually, among other provisions. The amendments in this ASU became effective on a retrospective basis for annual periods beginning January 1, 2024, and interim periods within those annual periods beginning January 1, 2025. The adoption of this standard is reflected in Note 20. Segment Information. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendment enhances income tax disclosure requirements, particularly regarding the effective tax rate reconciliation and income taxes paid. The amendments in this ASU are effective for fiscal years beginning after December 15, 2024. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures." The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company recognizes revenues when control of a product is transferred to the customer. Control is transferred when the products are shipped from one of the Company’s manufacturing facilities to the customer. Any freight costs billed to and paid by a customer are included in Net sales. The cost the Company pays to deliver finished goods to our customers is recorded as a component of Cost of products sold. These costs include the amounts paid to a third party to deliver the finished goods. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied, which generally occurs when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Generally, the Company considers collectability of amounts due under a contract to be probable upon inception of a sale based on an evaluation of the credit worthiness of each customer. If collectability is not considered to be probable, the Company defers recognition of revenue on satisfied performance obligations until the uncertainty is resolved. We record estimates for credit losses based on our expectations for the collectability of amounts due from customers, considering historical collections, expectations for future activity and other discrete events, as applicable. Variable consideration, such as discounts or price concessions, is set forth in the terms of the contract at inception and is included in the assessment of the transaction price at the outset of the arrangement. The transaction price is allocated to the individual performance obligations due under the contract based on the relative stand-alone fair value of the performance obligations identified in the contract. The Company typically uses an observable price to determine the stand-alone selling price for separate performance obligations. The Company does not typically include extended payment terms or significant financing components in its contracts with customers. Certain sales contracts may include cash-based incentives (volume rebates or credits), which are accounted for as variable consideration. We estimate these amounts at least quarterly based on the expected forecast quantities to be provided to customers and reduce revenues recognized accordingly. Incidental items that are immaterial in the context of the contract are recognized as expense in the period incurred. The Company generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within Selling and general expense. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less and contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. As a practical expedient, the Company treats shipping and handling activities that occur after control of the good transfers as fulfillment activities, and therefore, does not account for shipping and handling costs as a separate performance obligation. The remaining performance obligations as of December 31, 2024 are not considered material. Net sales are attributed to the following geographic locations of the Company’s direct customers (in millions): Years Ended December 31, 2024 2023 2022 FAM SAS Total FAM SAS Total FAM SAS Total United States $ 414.3 $ 683.2 $ 1,097.5 $ 456.9 $ 644.0 $ 1,100.9 $ 536.6 $ 411.8 $ 948.4 Europe 194.1 323.9 518.0 196.3 350.1 546.4 107.3 273.9 381.2 Asia/Pacific 119.1 90.9 210.0 119.4 87.3 206.7 100.7 70.3 171.0 Americas (excluding U.S.) 23.0 83.5 106.5 23.2 102.3 125.5 20.7 78.0 98.7 Other foreign countries 16.0 33.1 49.1 14.2 32.3 46.5 11.5 26.1 37.6 Net sales $ 766.5 $ 1,214.6 $ 1,981.1 $ 810.0 $ 1,216.0 $ 2,026.0 $ 776.8 $ 860.1 $ 1,636.9 Net sales as a percentage by product category for the business were as follows: Years Ended December 31, 2024 2023 Filtration & netting 25 % 25 % Advanced films 14 % 15 % Tapes, labels & liners 31 % 30 % Paper & packaging 16 % 16 % Healthcare & other 14 % 14 % Net sales 100 % 100 % FAM is focused primarily on filtration media and components, advanced films, coating and converting solutions, and extruded mesh products. The FAM segment supplies customers directly, serving a diverse set of generally high-growth end markets. Filtration & netting – includes high efficiency filtration media and components used in transportation applications, water filtration, industrial processes, life science, HVAC, and air pollution control, as well as extruded mesh products used in agriculture, and various packaging applications. Advanced films – includes paint protection films used in the transportation aftermarket channel, optical films for glass and glazing applications, interlayer films and lamination for ballistic resistance, medical films and composites for advanced wound care and consumer products, security glass, high-performance graphic substrates, and emerging smart glass applications. SAS is focused primarily on tapes, labels, liners, specialty paper, packaging and healthcare solutions. The SAS segment supplies customers through distribution and directly, serving growing and mature end markets. Tapes, labels & liners – includes substrates for tapes used in building & construction, infrastructure, DIY, athletic, and industrial applications, substrates critical to protection and adhesive separation (including release liners and carriers) for applications in the personal care, label, tape, industrial, graphic arts, composites, and medical categories, as well as performance labels, and cable wrapping. Paper & packaging – includes premium printing and other specialty papers and packaging applications used for print collateral, advertising, direct mail, product packaging, graphics, wallpaper, and education, as well as consumer office, stationery and craft papers sold to large retailers, for small business, personal use and educational applications. Healthcare & other – includes advanced wound care, consumer wellness, device fixation, medical packaging, as well as a wide range of other solutions and applications. There were no customers in the FAM segment and in the SAS segment which made up 10% or more of the Company's 2024, 2023 or 2022 consolidated net sales. Refer to Note 20. Segment Information for additional information on our segments.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company leases certain office space, warehouses, manufacturing facilities, land, and equipment. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; we recognize lease expense for these short-term leases in Selling and general expense in the Consolidated Statements of Income (Loss) on a straight-line basis over the lease term. For leases without lease terms (e.g., month-to-month leases), lease expense is recognized as incurred and no asset or liability is recorded for these leases. The Company accounts for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from non-lease components (e.g., common-area maintenance costs). Most leases include one or more options to renew, with renewal terms that can extend the lease term. The exercise of lease renewal options is at our sole discretion. Lease assets and liabilities are determined based on the lease term including those periods for which renewal options are considered reasonably certain to be exercised. Certain leases also include options to purchase the leased property, although we are unlikely to do so in most cases. The depreciable life of assets and leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company's leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement. Components of lease expense incurred by the Company are as follows (in millions): Years Ended December 31, 2024 2023 Finance lease cost (cost resulting from lease payments): Interest expense on lease liabilities $ 1.6 $ 1.4 Amortization of right-of-use assets 1.8 1.4 Operating lease cost 13.4 11.3 Short-term lease expense 1.7 1.7 Sublease income (0.1) (0.1) Total lease cost $ 18.4 $ 15.7 The following table represents future contractual lease liabilities for finance and operating leases at December 31, 2024 (in millions): Finance Operating Total 2025 $ 2.9 $ 12.0 $ 14.9 2026 2.9 9.1 12.0 2027 2.3 7.5 9.8 2028 1.8 6.1 7.9 2029 1.8 5.4 7.2 Thereafter 17.5 17.0 34.5 Total lease payments 29.2 57.1 86.3 Less: Interest 11.3 11.2 22.5 Present value of lease liabilities $ 17.9 $ 45.9 $ 63.8 Weighted-average remaining lease term (in years) and discount rate are as follows: December 31, 2024 2023 Weighted-average remaining lease term: Operating leases 6.7 8.4 Finance leases 13.3 14.1 Weighted-average discount rate: Operating leases 6.65 % 6.31 % Finance leases 7.74 % 7.49 % Supplemental cash flow information related to leases are as follows (in millions): Years Ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14.4 $ 14.3 Operating cash flows from finance leases 1.5 1.4 Leased assets obtained in exchange for new finance lease liabilities 0.5 2.0 Leased assets obtained in exchange for new operating lease liabilities (1) 11.3 25.1
Leases	Leases The Company leases certain office space, warehouses, manufacturing facilities, land, and equipment. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; we recognize lease expense for these short-term leases in Selling and general expense in the Consolidated Statements of Income (Loss) on a straight-line basis over the lease term. For leases without lease terms (e.g., month-to-month leases), lease expense is recognized as incurred and no asset or liability is recorded for these leases. The Company accounts for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from non-lease components (e.g., common-area maintenance costs). Most leases include one or more options to renew, with renewal terms that can extend the lease term. The exercise of lease renewal options is at our sole discretion. Lease assets and liabilities are determined based on the lease term including those periods for which renewal options are considered reasonably certain to be exercised. Certain leases also include options to purchase the leased property, although we are unlikely to do so in most cases. The depreciable life of assets and leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company's leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement. Components of lease expense incurred by the Company are as follows (in millions): Years Ended December 31, 2024 2023 Finance lease cost (cost resulting from lease payments): Interest expense on lease liabilities $ 1.6 $ 1.4 Amortization of right-of-use assets 1.8 1.4 Operating lease cost 13.4 11.3 Short-term lease expense 1.7 1.7 Sublease income (0.1) (0.1) Total lease cost $ 18.4 $ 15.7 The following table represents future contractual lease liabilities for finance and operating leases at December 31, 2024 (in millions): Finance Operating Total 2025 $ 2.9 $ 12.0 $ 14.9 2026 2.9 9.1 12.0 2027 2.3 7.5 9.8 2028 1.8 6.1 7.9 2029 1.8 5.4 7.2 Thereafter 17.5 17.0 34.5 Total lease payments 29.2 57.1 86.3 Less: Interest 11.3 11.2 22.5 Present value of lease liabilities $ 17.9 $ 45.9 $ 63.8 Weighted-average remaining lease term (in years) and discount rate are as follows: December 31, 2024 2023 Weighted-average remaining lease term: Operating leases 6.7 8.4 Finance leases 13.3 14.1 Weighted-average discount rate: Operating leases 6.65 % 6.31 % Finance leases 7.74 % 7.49 % Supplemental cash flow information related to leases are as follows (in millions): Years Ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14.4 $ 14.3 Operating cash flows from finance leases 1.5 1.4 Leased assets obtained in exchange for new finance lease liabilities 0.5 2.0 Leased assets obtained in exchange for new operating lease liabilities (1) 11.3 25.1

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisitions	Business Acquisitions On March 28, 2022, the Company entered into an Agreement and Plan of Merger to combine with Neenah, a specialty materials company incorporated in Delaware, in an all-stock merger of equals (the "Merger Agreement"), to create a global leader in specialty materials, accelerate growth and innovation, as well as achieve cost synergies. The Merger was approved by the shareholders of both the Company and Neenah on June 29, 2022 and was completed on July 6, 2022. Under the terms of the Merger Agreement, which was unanimously approved by the board of directors of both companies, Neenah merged into a directly owned subsidiary of the Company, with Neenah surviving the Merger as a direct, wholly-owned subsidiary of Mativ. Pursuant to the Merger Agreement, each share of Neenah's common stock outstanding was exchanged for 1.358 shares of common stock in the Company. As such, the Company issued approximately 22.8 million shares of its common stock to Neenah's shareholders under the terms of the Merger Agreement. Based on the Company's closing stock price on July 5, 2022, the total value of shares issued to Neenah's shareholders was approximately $534.1 million. The total consideration transferred to merge with Neenah was $1,056.3 million, which included the equity portion consideration of $534.1 million, repayment of Neenah debt of $504.9 million, repayment of acquisition costs incurred by Neenah of $13.5 million and the fair value of unvested stock awards allocated to the pre-merger period of $3.8 million. The Company used the proceeds of the borrowings under the amended Credit Agreement to repay existing indebtedness of Neenah and to pay other costs and expenses in connection with the Merger. The transaction was accounted for as a business combination with the Company being treated as the accounting acquirer in accordance with Accounting Standards Codification ("ASC") 805, Business Combinations. Under this method of accounting, the total consideration has been allocated to Neenah's assets acquired and liabilities assumed based upon fair values at the Merger date. The assets acquired and liabilities assumed were measured at fair value as of the Merger date primarily using Level 3 inputs. The excess of the total consideration over the net assets acquired was recorded as goodwill and has been allocated to the FAM segment. The goodwill recorded will not be deductible for tax purposes as it is primarily attributable to expected revenue and cost synergies. The estimated purchase price allocation disclosed as of September 30, 2022 was revised during the measurement period as new information was received and analyzed resulting in increases in Deferred income tax liabilities of $19.0 million, Intangible assets, net of $17.9 million, Property, plant and equipment, net of $9.6 million, Inventories, net of $2.7 million, as well as decreases in Goodwill of $12.0 million, Accounts payable and other current liabilities of $9.1 million, Accounts receivable, net of $8.5 million, and other immaterial changes, as presented in the table below. The consideration paid to merge with Neenah, and the fair values of the assets acquired and liabilities assumed as of the Merger date were as follows (in millions): Final Fair Value Allocation Adjustments Preliminary Allocation as of July 6, 2022 Cash and cash equivalents $ 55.9 $ — $ 55.9 Accounts receivable, net 198.1 (8.5) 206.6 Inventories, net 194.5 2.7 191.8 Other current assets 27.8 0.3 27.5 Property, plant and equipment, net 463.2 9.6 453.6 Intangible assets, net 236.9 17.9 219.0 Other assets 42.1 0.3 41.8 Total assets $ 1,218.5 $ 22.3 $ 1,196.2 Current debt $ 1.9 $ — $ 1.9 Accounts payable and other current liabilities 198.8 (9.1) 207.9 Long-term debt 22.8 — 22.8 Deferred income tax liabilities 86.7 19.0 67.7 Other liabilities 82.4 0.4 82.0 Net assets acquired 825.9 12.0 813.9 Goodwill 230.4 (12.0) 242.4 Total consideration $ 1,056.3 $ — $ 1,056.3 The fair value of receivables acquired approximates the gross contractual value. The contractual amount not expected to be collected is immaterial. Acquired inventory was comprised of finished goods, work in process and raw materials. The fair value of finished goods was based on net realizable value adjusted for the costs of selling and manufacturing and a reasonable profit margin on selling effort and manufacturing costs. The fair value of work in process was based on net realizable value adjusted for the costs of selling and a reasonable profit margin on selling effort. The fair value of raw materials was determined to approximate book value. Property, plant and equipment is comprised of land, buildings and leasehold improvements, machinery and equipment, furniture and fixtures, computer equipment and construction in progress. The fair value was primarily determined using a reproduction/replacement cost approach which measures the value of an asset by estimating the cost to acquire or construct comparable assets adjusted for age and condition of the asset. Acquired intangible assets include customer relationships, trade names and developed technologies. Intangible assets were valued using the multi-period excess earnings and relief-from-royalty methods, both forms of the income approach which considers a forecast of future cash flows generated from the use of each asset. The following table sets forth the components of identifiable intangible assets (in millions) and their estimated useful lives (in years): Fair Value Weighted-Average Amortization Period (Years) Amortizable intangible assets: Customer relationships $ 202.3 14.3 Trade names 14.4 20 Developed technology 20.2 7 Total amortizable intangible assets $ 236.9 The deferred tax effects resulting from the Merger include the federal, state and foreign tax consequences associated with temporary differences between the fair values of the assets acquired, liabilities assumed and the respective tax basis. During the years ended December 31, 2024 and 2023 the Company did not recognize any direct and indirect costs related to the Merger. Direct and indirect merger-related costs were expensed as incurred and are primarily included in the Selling and general expense in the Company's Consolidated Statements of Income (Loss). Pro Forma Financial Information (Unaudited) The unaudited supplemental pro forma financial information presents the combined results of operations for the periods presented, as if the Merger had occurred on January 1, 2022. The unaudited supplemental pro forma financial information includes the following adjustments related to the Merger: incremental depreciation expense related to fair value adjustments to property, plant and equipment, amortization of intangible assets and fair value adjustments to inventory, interest expense for the additional indebtedness incurred to complete the Merger, acquisition and severance costs, and applicable tax adjustments based on statutory rates in the jurisdictions where the adjustments occurred. The unaudited supplemental pro forma financial information presented below is not necessarily indicative of consolidated results of continuing operations of the combined business had the Merger occurred as of January 1, 2022 (in millions): Year Ended December 31, 2022 Net sales $ 2,238.0 Net loss $ (13.6)

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net is summarized as follows (in millions): Years Ended December 31, 2024 2023 Trade receivables $ 132.2 $ 147.2 Business tax credits, including VAT 10.0 10.2 Hedge contracts receivable 7.4 2.6 Other receivables 16.1 19.7 Less allowance for credit losses (3.3) (3.2) Total accounts receivable, net $ 162.4 $ 176.5 The following is the activity related to the allowance for credit losses (in millions): Years Ended December 31, 2024 2023 2022 Beginning balance $ 3.2 $ 2.0 $ 0.8 Bad debt expense 0.8 1.0 1.6 Recoveries (0.5) — (0.1) Write-offs and discounts (0.3) 0.2 (0.3) Currency translation 0.1 — — Ending balance $ 3.3 $ 3.2 $ 2.0 Transfer of Receivables On December 23, 2022, the Company entered into an accounts receivable sales agreement (the “Receivables Sales Agreement”) to sell certain trade receivables arising from revenue transactions of the Company's U.S. subsidiaries on a revolving basis. The maximum funding commitment of the Receivables Sales Agreement is $175.0 million. The agreement has an initial term of 3 years and can be renewed. Upon entry into the Receivables Sales Agreement, the Company sold $126.0 million of trade receivables. In connection with the Receivables Sales Agreement, the Company formed a separate bankruptcy-remote special purpose entity (“SPE”), which is a wholly owned and controlled subsidiary. The Company continuously transfers receivables to the SPE and the SPE transfers ownership and control of certain receivables that meet certain qualifying conditions to a third-party financial institution in exchange for cash. Certain receivables are held by the SPE and are pledged to secure the collectability of the sold receivables. On October 20, 2023, we entered into Amendment No. 1 to the Receivables Sales Agreement (the Receivables Sales Agreement Amendment”). The Receivables Sales Agreement Amendment amends the original Receivables Sales Agreement (the “Amended Receivables Sales Agreement”) to, among other things, (i) reflect the repurchase by the Company from the SPE of all of its accounts receivable and certain related assets previously sold by Company to the SPE (collectively, “Receivables”), (ii) reflect that the Company is no longer an originator of Receivables under the Company’s accounts receivable securitization facility, but remains the servicer and performance guarantor, (iii) reflect the Company’s assignment of 100% of the ownership interests in the SPE to Neenah, such that Neenah will now be able to contribute Receivables to the SPE on a go-forward basis, and (iv) update the maximum Net Debt to EBITDA Ratio to match the level set forth in the Company’s First Lien Credit Agreement as in effect on the date of such amendment. The amount of receivables pledged as collateral as of December 31, 2024 and 2023 was $28.7 million and $27.9 million respectively. The SPE incurs fees due to the third-party financial institution related to accounts receivable sales transactions. The Company has continuing involvement with the receivables transferred by the SPE to the third-party financial institution by providing collection services. The Company also participates in uncommitted trade accounts receivable sales programs ("Reverse Receivables Programs") under which certain trade receivables are sold, without recourse, to a third-party financial institution in exchange for cash. The Company does not retain any interest in or continuing involvement with the invoices after they are sold. The invoices are sold at face value, less a transaction fee. The Company accounts for transactions under the Amended Receivables Sales Agreement and Reverse Receivables Programs as sales of financial assets, with the associated receivables derecognized from the Company’s Consolidated Balance Sheets. Total fees related to the Receivables Sales Agreement and Reverse Receivables Programs are considered to be a loss on the sale of financial assets. Total fees for the years ended December 31, 2024 and December 31, 2023 were $9.6 million and $4.5 million, respectively, and are recorded in Selling and general expense in the Consolidated Statements of Income (Loss). Continuous cash activity related to the Amended Receivables Sales Agreement and Reverse Receivables Programs is reflected in cash from operating activities in the Consolidated Statement of Cash Flows. The following table summarizes the activity under the Amended Receivables Sales Agreement and Reverse Receivables Program (in millions): Years Ended December 31 2024 2023 Trade accounts receivable sold to financial institutions $ 1,037.2 $ 1,096.1 Cash proceeds from financial institutions 1,036.3 1,094.8

Inventories, Net

Inventories, Net	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories are valued at the lower of cost (using the first-in, first-out and weighted average methods) or net realizable value. The Company's costs included in inventory primarily include resins, pulp, chemicals, direct labor, utilities, maintenance, depreciation, finishing supplies and an allocation of certain overhead costs. Machine start-up costs or abnormal machine shutdowns are expensed in the period incurred and are not reflected in inventory. The Company reviews inventories at least quarterly to determine the necessity of write-offs for excess, obsolete or unsalable inventory. The Company estimates write-offs for inventory obsolescence and shrinkage based on its judgment of future realization. These reviews require the Company to assess customer and market demand. There were no material write-offs during the years ended December 31, 2024, 2023, and 2022. The following table summarizes inventories by major class (in millions): December 31, 2024 2023 Raw materials $ 125.8 $ 129.9 Work in process 53.5 50.4 Finished goods 160.7 160.0 Supplies and other 15.1 12.6 Total inventories $ 355.1 $ 352.9

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation. Interest is capitalized as a component of the cost of construction for large projects. Expenditures for betterments are capitalized whereas normal repairs and maintenance are expensed as incurred. Property, other than land, is depreciated on a straight-line basis. When property is sold or retired, the cost of the property and the related accumulated depreciation are removed from the balance sheet, and any gain or loss on the transaction is normally included in Cost of products sold or Other income (expense). Property, plant and equipment (and related depreciable lives) consisted of the following (in millions): December 31, 2024 2023 Land and improvements $ 68.2 $ 78.3 Buildings and improvements (20 to 40 years or remaining life of relevant lease) 192.6 191.6 Machinery and equipment (5 to 20 years) 597.8 558.6 Construction in progress 33.8 50.0 Gross property, plant and equipment 892.4 878.5 Less: Accumulated depreciation 272.1 206.0 Property, plant and equipment, net $ 620.3 $ 672.5

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On August 1, 2023, the Company entered into the Offer Letter with Evergreen Hill Enterprise pursuant to which Evergreen Hill Enterprise made the Offer to acquire the Company’s EP Business for $620.0 million in cash, subject to customary closing date adjustments. Upon entering into the Engineered Papers Offer agreement, the Engineered Papers business met the criteria set forth in Accounting Standards Codification 205-20, Presentation of Financial Statements – Discontinued Operations (“ASC 205-20”), as the sale represented a strategic shift that had a major effect on the Company’s operations and financial results. As a result, the Company’s consolidated financial statements for all periods presented reflect the Engineered Papers business as a discontinued operation. On November 30, 2023 the Company completed the sale of its Engineered Papers business. Upon closing of the transaction, the Company recorded a gain on sale of $176.3 million ($170.0 million, net of income taxes) and released certain material deferred tax valuation allowances. The gain and cash proceeds are subject to customary working capital adjustments during a specified period following the sale close date. The Engineered Papers business was tested for recoverability as of each balance sheet date since meeting the discontinued operations criteria and the Company concluded that there is no impairment expense to be recognized. Summary financial results of discontinued operations were as follows (in millions): Years Ended December 31, 2023 2022 Net sales $ 490.9 $ 530.5 Cost of products sold 373.4 398.9 Gross profit 117.5 131.6 Selling and general expense 29.4 32.0 Research and development expense 8.6 7.8 Intangible asset amortization expense — — Total nonmanufacturing expenses 38.0 39.8 Restructuring and other impairment expense 0.5 0.2 Operating profit 79.0 91.6 Interest expense (1) 49.0 28.8 Other income, net 194.8 9.3 Income from discontinued operations before income taxes 224.8 72.1 Income tax expense 29.1 15.0 Income from equity affiliates, net of income taxes 2.5 5.2 Income from discontinued operations, net of tax $ 198.2 $ 62.3 (1) Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to approximately $641.2 million. This debt repayment is based on the triggering of a financial covenant in the loan agreement and interest expense has been allocated to discontinued operations on a pro-rata basis within the Consolidated Statements of Income (Loss) and the Consolidated Statement of Cash Flows based on the outstanding loan balances.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The Company evaluates goodwill for impairment at least annually during the fourth quarter or whenever events or changes in circumstances indicate that an evaluation should be completed. The Company determines the fair value of its reporting units using the income approach. The determination of the fair value using the income approach requires management to make significant estimates and assumptions related to forecasts of future cash flows and discount rates. Changes to the forecasted revenue growth, earnings before income taxes, depreciation and amortization (“EBITDA”) and discount rate assumptions may result in a significantly different estimate of the fair value of the reporting units, which could result in a different assessment of the recoverability of goodwill or measurement of an impairment charge. During 2023 the Company performed an interim quantitative goodwill impairment test, which resulted in an impairment charge of $401.0 million related to certain reporting units which are now included within the SAS reportable segment. The annual tests during the fourth quarters of 2024, 2023 and 2022 resulted in no impairment. Refer to Note 20. Segment Information for additional information on our reportable segments. The changes in the carrying amount of goodwill for each reportable segment were as follows (in millions): FAM SAS Total Balance at December 31, 2022 $ 408.2 $ 436.0 $ 844.2 Goodwill acquired (1) 4.1 11.9 16.0 Goodwill impairment — (401.0) (401.0) Foreign currency translation and other 5.6 9.3 14.9 Balance at December 31, 2023 417.9 56.2 474.1 Foreign currency translation and other (6.0) (2.5) (8.5) Balance at December 31, 2024 $ 411.9 $ 53.7 $ 465.6 (1) Related to the measurement period adjustments for the Merger.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Intangible Assets, Net The gross carrying amount and accumulated amortization for intangible assets consisted of the following (in millions): December 31, 2024 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 726.6 $ 254.3 $ 472.3 Acquired and developed technology 90.3 47.9 42.4 Trade names 47.2 9.4 37.8 Non-compete agreements 2.9 2.9 — Patents 1.9 1.0 0.9 Total $ 868.9 $ 315.5 $ 553.4 December 31, 2023 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 743.8 $ 209.4 $ 534.4 Acquired and developed technology 92.6 38.6 54.0 Trade names 32.7 6.4 26.3 Non-compete agreements 2.9 2.8 0.1 Patents 1.9 0.9 1.0 Total $ 873.9 $ 258.1 $ 615.8 Unamortized Intangible Assets Trade names (1) $ 15.5 $ — $ 15.5 (1) Amortization of certain trade names began effective January 1, 2024 to reflect current expectations for the period over which the assets will contribute to future cash flows. Amortization expense of intangible assets was $62.9 million, $61.0 million , and $53.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Finite-lived intangibles in the FAM segment are expensed using the straight-line amortization method. The following table shows the estimated aggregate amortization expense as of December 31, 2024 (in millions): 2025 $ 62.4 2026 $ 61.8 2027 $ 61.7 2028 $ 58.3 2029 $ 55.6

Restructuring and Other Impairm

Restructuring and Other Impairment Activities	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Impairment Activities	Restructuring and Other Impairment Activities In January 2024, we announced an organizational realignment initiative (the "Plan") that is expected to streamline organizational size and complexity and leverage business critical resources to enhance customer support and reduce overhead cost. Restructuring and other impairment expenses related to the Plan were comprised primarily of severance charges. These charges were $16.4 million for the year ended December 31, 2024, of which $3.1 million, $10.0 million and $3.3 million incurred within FAM, SAS and Unallocated, respectively. Restructuring activities associated with the first wave of the Plan were substantially completed during 2024. Additional costs associated with the first wave of the Plan are expected to be insignificant. Restructuring and other impairment expenses in the FAM segment, excluding costs associated with the Plan were primarily attributable to facility closures announced in prior years. Through December 31, 2024, the FAM Segment has recognized accumulated restructuring and other impairment charges of $5.7 million related to the facility closures. Restructuring and other impairment expenses in the SAS segment, excluding costs associated with the Plan included $16.2 million of impairment charges, for the twelve months ended December 31, 2024, respectively, to fully impair the net assets at our Eerbeek, Netherlands facility, which was sold in the fourth quarter of 2024. The impairment assessment was performed after revising our long-term view on cash flows associated with the facility. The remaining restructuring and other impairment expenses were primarily related to a facility closure announced in a prior year, the sale of which was completed during 2024. Assets held for sale of $10.3 million were included in Other current assets as of December 31, 2024. Assets held for sale of $14.2 million and $2.2 million were included in Other current assets and Other assets as of December 31, 2023, respectively. The following table summarizes total restructuring and other impairment expense (in millions): Year Ended December 31, 2024 2023 2022 Filtration and Advanced Materials Severance and termination benefits $ 3.8 $ 0.1 $ 0.5 Other exit costs 1.8 2.7 1.2 FAM restructuring expense 5.6 2.8 1.7 Sustainable and Adhesive Solutions Severance and termination benefits 10.6 — 1.3 Other exit costs 2.3 1.1 1.3 SAS restructuring expense 12.9 1.1 2.6 Unallocated Severance and termination benefits 3.4 — — Other exit costs — 0.1 0.8 Unallocated restructuring expense 3.4 0.1 0.8 Total restructuring expense $ 21.9 $ 4.0 $ 5.1 Filtration and Advanced Materials Other impairment expense $ — $ — $ 13.0 Sustainable and Adhesive Solutions Other impairment expense 16.2 18.3 0.2 Unallocated Other impairment expense — 0.3 0.8 Total restructuring and other impairment expense $ 38.1 $ 22.6 $ 19.1 The following table summarizes changes in restructuring liabilities (in millions): 2024 2023 Balance at beginning of the period $ 3.8 $ 4.0 Charges for restructuring programs 21.9 0.3 Cash payments and other (23.5) (0.5) Balance at end of period $ 2.2 $ 3.8

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Total debt, net of debt issuance costs, is summarized in the following table (in millions): December 31, 2024 2023 Revolving facility - U.S. dollar borrowings $ 237.0 $ 260.0 Term loan A facility 83.3 84.3 Term loan B facility 116.5 160.5 Delayed draw term loan 270.1 273.2 6.875% Senior unsecured notes due October 1, 2026, net of discount of $3.2 million as of December 31, 2023 (1) — 341.9 8.000% Senior unsecured notes due October 1, 2029 400.0 — German loan agreement 5.9 9.0 Debt issuance costs (23.5) (24.3) Total debt 1,089.3 1,104.6 Less: Current debt (2.6) (2.8) Long-term debt $ 1,086.7 $ 1,101.8 (1) Amount includes a $4.9 million decrease in the fair value as of December 31, 2023 , due to changes in benchmark interest rates related to the senior unsecured notes. Refer to Note 14. Derivatives for additional information on our interest rate swaps designated as a fair value hedge. Credit Facility On September 25, 2018, the Company entered into a $700.0 million credit agreement (the “Credit Agreement”), which replaced the Company’s previous senior secured credit facilities and provides for a five-year $500.0 million revolving line of credit (the “Revolving Credit Facility”) and a seven-year $200.0 million bank term loan facility (the “Term Loan A Facility”). Subject to certain conditions, including the absence of a default or event of default under the Credit Agreement, the Company may request incremental loans to be extended under the Revolving Credit Facility or as additional Term Loan Facilities so long as the Company is in pro forma compliance with the financial covenants set forth in the Credit Agreement and the aggregate of such increases does not exceed $400.0 million. On February 10, 2021, we amended our Credit Agreement to, among other things, add a new seven-year $350.0 million Term Loan B Facility (the “Term Loan B Facility”) and to decrease the incremental loans that may be extended at the Company’s request to $250.0 million. The amended Credit Agreement was further amended effective February 22, 2022 to adjust the step-down schedule for the maximum net debt to EBITDA ratio. In connection with the Merger, we further amended our Credit Agreement on May 6, 2022 in order to extend the maturity of the Revolving Credit Facility and the Term Loan A Facility to May 6, 2027, and to increase the availability under the Revolving Credit Facility, subject to consummation of the Merger, to $600.0 million. Additionally, we added a $650.0 million delayed draw term loan facility (the "Delayed Draw Term Loan Facility") to be funded concurrent with the closing of the Merger. Effective July 1, 2023, pursuant to the amended Credit Agreement on June 5, 2023, borrowings under the Term Loan B Facility in U.S. dollar will bear interest equal to a forward-looking term rate based on Term SOFR (subject to a minimum floor of 0.75%) plus 2.75%. Borrowings under the Term Loan B Facility in Euros will bear interest equal to EURIBOR (subject to a minimum floor of 0%) plus 3.75%. In December 2023, $641.2 million of cash from proceeds from the sale of the Company's Engineered Papers business was used to repay a portion of our Revolving Credit Facility, Term Loan A Facility, Term Loan B Facility, and Delayed Draw Term Loan Facility. In December 2024, the Company further amended its Credit Agreement to increase the applicable rate margin to 2.75% with respect to revolving loans and delayed draw term loans borrowed at the adjusted Term SOFR rate, adjusted EURIBOR rate or Daily Simple RFR rate, as applicable, and letter of credit fees, 1.75% with respect to revolving loans and delayed draw term loans borrowed at the ABR rate, 3.00% with respect to Term A Loans borrowed at the adjusted Term SOFR rate or adjusted EURIBOR rate, as applicable, and 2.00% with respect to Term A Loans borrowed at the ABR rate and the commitment fee rate to 0.45%, in each case, when the net debt to EBITDA ratio is greater than or equal to 5.00 to 1.00. The Amendment also permits borrowings under the revolving commitments in an aggregate amount up to $504.0 million in Sterling. Under the terms of the amended Credit Agreement, Mativ will continue to be required to maintain certain financial ratios and comply with certain financial covenants, as amended by the Amendment, including a requirement (a) to maintain a minimum interest coverage ratio of 2.50 to 1.00 over each consecutive four fiscal quarter period ending December 31, 2024 through December 31, 2025 with a step-up to 2.75 to 1.00 for each such period thereafter and (b) to maintain a maximum net debt to EBITDA ratio of 5.50 to 1.00 over each consecutive four fiscal quarter period ending December 31, 2024 through December 31, 2025 with a step-down to 5.25 to 1.00 for each such period thereafter. Borrowings under the amended Term Loan A Facility ("Term Loan A Credit Facility") will bear interest, at a rate equal to either (1) a forward-looking term rate based on the Secured Overnight Financing Rate (“Term SOFR”), plus the applicable margin or (2) the highest of (a) the federal funds effective rate plus 0.5%, (b) the rate of interest as published by the Wall Street Journal as the “bank prime loan” rate, and (c) Term SOFR plus 1.0%, in each case plus the applicable margin. The applicable margin for borrowings under the Term Loan A Credit Facility is expected to range from 1.25% to 3.00% for SOFR loans and from 0.25% to 2.00% for base rate loans, in each case depending on the Company’s then current net debt to EBITDA ratio. Borrowings under the amended Revolving Facility or the Delayed Draw Term Loan Facility in U.S. dollars will bear interest, at the Company’s option, at a rate equal to either (1) a forward-looking term rate based on Term SOFR, plus the applicable margin or (2) the highest of (a) the federal funds effective rate plus 0.5%, (b) the rate of interest as published by the Wall Street Journal as the “bank prime loan” rate, and (c) one-month Term SOFR plus 1.0%, in each case plus the applicable margin. Borrowings under the Revolving Facility in Euros will bear interest at a rate equal to the reserve-adjusted Euro interbank offered rate, or EURIBOR, plus the applicable margin. The applicable margin for borrowings under the revolving credit agreement is expected to range from 1.00% to 2.75% for SOFR loans and EURIBOR loans, and from 0.00% to 1.75% for base rate loans, in each case, depending on the Company’s then current net debt to EBITDA ratio. Borrowings under the Term Loan B Facility will bear interest, equal to a forward-looking term rate based on Term SOFR (subject to a minimum floor of 0.75%) plus 2.75%. Borrowings under the Term Loan B Facility in Euros will bear interest equal to EURIBOR (subject to a minimum floor of 0%) plus 3.75%. Under the terms of the amended Credit Agreement, the Company is required to maintain certain financial ratios and comply with certain financial covenants, including maintaining a net debt to EBITDA ratio, as defined in the amended Credit Agreement, calculated on a trailing four fiscal quarter basis, not greater than 5.50x and an interest coverage ratio, also as defined in the amended Credit Agreement, of not less than 2.50x. In addition, borrowings and loans made under the amended Credit Agreement are secured by substantially all of the Company’s and the guarantors’ personal property, excluding certain customary items of collateral, and will be guaranteed by the Company’s existing and future wholly-owned direct material domestic subsidiaries and by Mativ Luxembourg (formerly known as SWM Luxembourg). The Company was in compliance with all of its covenants under the amended Credit Agreement at December 31, 2024. Indenture for 6.875% Senior Unsecured Notes Due 2026 On September 25, 2018, the Company closed a private offering of $350.0 million of 6.875% senior unsecured notes due 2026 (the “2026 Notes”). The Company redeemed all of the 2026 Notes on October 7, 2024, at the redemption prices set forth in the 2018 Indenture, together with accrued and unpaid interest, with the net proceeds from the offering of the 8.000% senior unsecured notes due 2029. Indenture for 8.000% Senior Unsecured Notes Due 2029 On October 7, 2024, the Company closed a private offering of $400.0 million of 8.000% senior unsecured notes due 2029 (the “2029 Notes”). The 2029 Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended, pursuant to a purchase agreement between the Company, certain subsidiaries of the Company and a third-party financial institution, as representative of the initial purchasers. The 2029 Notes are senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by each of the Company’s existing and future wholly-owned subsidiaries that is a borrower under or that guarantees obligations under the Company’s senior secured credit facilities or that guarantees certain other indebtedness, subject to certain exceptions. The Company used the net proceeds from the offering of the 2029 Notes (i) to redeem its 2026 Notes and (ii) to repay $43.0 million aggregate principal amount of outstanding borrowings under the term loan B facility under its credit agreement. The 2029 Notes were issued pursuant to an Indenture (the “Indenture”), dated as of October 7, 2024, among the Company, the guarantors listed therein and a third-party financial institution, as trustee. The Indenture provides that interest on the 2029 Notes will accrue from October 7, 2024 and is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2025, and the 2029 Notes mature on October 1, 2029, subject to earlier repurchase or redemption. The Company may redeem some or all of the 2029 Notes at any time on or after October 1, 2026, at the redemption prices set forth in the Indenture, together with accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain assets or consummates certain change of control transactions, the Company will be required to make an offer to repurchase the 2029 Notes, subject to certain conditions. The Indenture contains certain covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur additional indebtedness, make certain dividends, repurchase Company stock or make other distributions, make certain investments, create liens, transfer or sell assets, merge or consolidate and enter into transactions with the Company’s affiliates. Such covenants are subject to a number of exceptions and qualifications set forth in the Indenture. The Indenture also contains certain customary events of default, including failure to make payments in respect of the principal amount of the 2029 Notes, failure to make payments of interest on the 2029 Notes when due and payable, failure to comply with certain covenants and agreements and certain events of bankruptcy or insolvency. The Company was in compliance with all of its covenants under the Indenture at December 31, 2024. As of December 31, 2024, the average interest rate was 7.05% on outstanding Revolving Facility borrowings, 7.21% on outstanding Term Loan A Facility borrowings, 8.22% on outstanding Term Loan B Facility borrowings and 6.96% on outstanding Delayed Draw Term Loan facility borrowings. The effective rate on the 2029 Notes was 8.000%. The weighted average effective interest rate on the Company's debt facilities, including the impact of interest rate hedges, was approximately 6.41% and 5.98% for the year ended December 31, 2024 and 2023, respectively. Other On May 30, 2022, Neenah entered into a project financing agreement for the construction of a melt blown machine (the "German Loan Agreement"). This debt was assumed by the Company upon consummation of the Merger. The German Loan Agreement provided $10.7 million of construction financing which is secured by the melt blown machine. The loan matures in March 2027 and principal is repaid in equal quarterly installments beginning in June 2023. The interest rate on amounts outstanding is 1.75% and is payable quarterly. Rate Swap Agreements From time to time, the Company enters into interest rate swap transactions to manage the Company's interest rate risk and cross-currency swaps designated as a hedge of a portion of the Company's net investment in certain Euro-denominated subsidiaries. Refer to Note 14. Derivatives for additional information. Principal Repayments Under the amended Credit Agreement, the Company selects an "interest period" for each of its borrowings from the Revolving Facility. The Company can repay such borrowings and borrow again at a subsequent date if it chooses to do so, providing it flexibility and efficient use of any excess cash. The Company currently has the intent and ability to allow its debt balances to remain outstanding and expects to continue to file notices of continuation related to its borrowings outstanding at December 31, 2024, such that those amounts are not expected to be repaid prior to the May 2027 expiration of the Revolving Facility. The following is the expected maturities for the Company's debt obligations as of December 31, 2024 (in millions): 2025 $ 2.6 2026 2.6 2027 591.1 2028 116.5 2029 400.0 Thereafter — Total $ 1,112.8 Fair Value of Debt At December 31, 2024 the fair market value of the 2029 Notes was $383.5 million. At December 31, 2023 the fair market value of the 2026 Notes was $335.6 million. The fair market value for the 2029 Notes and 2026 Notes were determined using quoted market prices, which are directly observable Level 1 inputs. The fair market value of all other debt as of December 31, 2024 and 2023 approximated the respective carrying amounts as the interest rates approximate current market indices. Debt Issuance Costs The Company capitalized approximately $8.3 million of debt issuance costs during the year ended December 31, 2024 related to the issuance of the 2029 Notes and the amendment to our Credit Agreement. These capitalized costs will be amortized over the term of the various facilities under the amended Credit Agreement. As of December 31, 2024 and 2023, the Company's total deferred debt issuance costs, net of accumulated amortization, were $23.5 million and $24.3 million, respectively. Amortization expense of $7.0 million, $6.5 million $5.5 million was recorded during the years ended December 31, 2024, 2023, and 2022 respectively, and was included as a component of Interest expense in the accompanying Consolidated Statements of Income (Loss). The following is the expected future amortization of the Company's deferred debt issuance costs as of December 31, 2024 (in millions): 2025 $ 7.9 2026 7.9 2027 4.7 2028 1.9 2029 1.1 Thereafter — Total $ 23.5

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives In the normal course of business, the Company is exposed to foreign currency exchange rate risk and interest rate risk on its variable-rate debt. To manage these risks, the Company utilizes a variety of practices including derivative instruments. The Company has no derivative instruments for trading or speculative purposes or derivatives with credit risk-related contingent features. All derivative instruments used by the Company are either exchange traded or are entered into with major financial institutions to reduce credit risk and risk of nonperformance by third parties. The fair values of the Company’s derivative instruments are determined using observable inputs and are considered Level 2 assets or liabilities. Foreign Currency Risk Management The Company utilizes currency forward, swap and, to a lesser extent, option contracts to selectively hedge its exposure to foreign currency risk when it is practical and economical to do so. The use of these contracts minimizes transactional exposure to exchange rate changes. We designate certain of our foreign currency hedges as cash flow hedges. Changes in the fair value of cash flow hedges are reported as a component of Accumulated other comprehensive income (loss), net of tax and reclassified into earnings when the forecasted transaction affects earnings. Changes in the fair value of foreign exchange contracts not designated as hedges are recorded to Net income (loss) each period. The Company also uses cross-currency swap contracts to selectively hedge its exposure to foreign currency related changes in our net investments in certain foreign operations. We designate these cross-currency swap contracts as net investment hedges based on the spot rate of the EUR. Changes in the fair value of these hedges are deferred within the foreign currency translation component of Accumulated other comprehensive income (loss), net of tax and reclassified into earnings when the foreign investment is sold or substantially liquidated. Future changes in the components related to the spot change on the notional will be recorded in Other Comprehensive Income ("OCI") and remain there until the hedged subsidiaries are substantially liquidated. Gains and losses excluded from the assessment of hedge effectiveness are recognized in earnings (Interest expense) over the term of the swap. Gains and losses associated with the settlement of derivative instruments designated as a net investment hedge are classified within investing activities in the Consolidated Statement of Cash Flows. As of December 31, 2024 and 2023 the gross notional amount of outstanding cross-currency swaps contracts designated as a net investment hedge was €450 million. Interest Rate Risk Management The Company selectively hedges its exposure to interest rate increases on variable-rate, long-term debt when it is practical and economical to do so. Changes in the fair value of pay-fixed, receive-variable interest rate swap contracts considered cash flow hedges are reported as a component of Accumulated other comprehensive income (loss), net of tax and reclassified into earnings when the forecasted transaction affects earnings. The terms of the interest rate swaps mirror the terms of the underlying debt, including timing of the payments and interest rates. As of December 31, 2024 and 2023 the gross notional amounts of outstanding interest rate swaps designated as a cash flow hedge were $589.2 million and $720.0 million, respectively. The interest rate contract used to hedge changes in the fair value of a portion of our 6.875% Senior Notes due 2026 was exited following the October 7, 2024 redemption of the 2026 Notes. The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2024 (in millions): Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 6.5 Accrued expenses and other current liabilities $ — Foreign exchange contracts Other assets 4.4 Other liabilities 2.9 Interest rate contracts Accounts receivable, net — Accrued expenses and other current liabilities — Interest rate contracts Other assets 10.1 Other liabilities — Total derivatives designated as hedges 21.0 2.9 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 0.8 Accrued expenses and other current liabilities — Total derivatives not designated as hedges 0.8 — Total derivatives $ 21.8 $ 2.9 The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2023 (in millions): Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 0.9 Accrued expenses and other current liabilities $ — Foreign exchange contracts Other assets — Other liabilities 18.4 Interest rate contracts Other assets 10.9 Other liabilities 4.9 Total derivatives designated as hedges 11.8 23.3 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 1.7 Accrued expenses and other current liabilities 1.5 Total derivatives not designated as hedges 1.7 1.5 Total derivatives $ 13.5 $ 24.8 Gains (losses) on derivatives designated as cash flow and net investment hedges recognized in other comprehensive income (loss) are summarized below (in millions) on a pretax basis: Derivatives Designated in Hedging Relationships Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss) Year Ended December 31, 2024 2023 2022 Derivatives designated as cash flow hedge Amounts included in assessment of effectiveness $ 12.8 $ 11.6 $ 63.2 Derivatives designated as net investment hedge Amounts included in assessment of effectiveness 22.9 (14.8) 33.1 Total gain $ 35.7 $ (3.2) $ 96.3 The Company's designated derivative instruments are highly effective. As such, there were no gains or losses recognized immediately in income related to the hedge ineffectiveness or amounts excluded from hedge effectiveness testing for the years ended December 31, 2024, 2023 or 2022, other than those related to the cross-currency swaps, noted below. Gains (losses) on derivatives within the Consolidated Statement of Income (Loss) were as follows (in millions): Location of Gains (Losses) Amount of Gains (losses)Recognized Year Ended December 31, 2024 2023 2022 Effect of cash flow hedges Amount reclassified from Accumulated other comprehensive income (loss) to income Interest expense $ 23.4 $ 28.4 $ 1.9 Effect of net investment hedges Amount excluded from assessment of hedge effectiveness Interest expense 7.6 10.0 10.6 Effect of fair value hedges Hedged item Interest expense 4.1 4.6 — Derivative designated as hedges Interest expense (4.1) (4.6) — Effect of non-designated hedges Foreign exchange contracts Other income 3.8 0.8 3.6 Total gain $ 34.8 $ 39.2 $ 16.1

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and Other current liabilities consisted of the following (in millions): December 31, 2024 2023 Accrued salaries, wages and employee benefits $ 45.3 $ 45.0 Accrued sales discounts and allowances 15.4 11.9 Other accrued expenses 40.0 56.8 Total $ 100.7 $ 113.7

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For financial reporting purposes, loss before income taxes includes the following components (in millions): Years Ended December 31, 2024 2023 2022 U.S. $ (92.8) $ (256.9) $ (123.0) Foreign 13.9 (224.0) 26.5 Total $ (78.9) $ (480.9) $ (96.5) An analysis of the expense (benefit) for income taxes from continuing operations follows (in millions): Years Ended December 31, 2024 2023 2022 Current income taxes: U.S. federal $ 0.8 $ (13.5) $ (12.3) U.S. state (2.1) (2.3) 0.3 Foreign 7.0 18.8 13.3 5.7 3.0 1.3 Deferred income taxes: U.S. federal (27.9) (5.7) (13.6) U.S. state (0.5) 0.9 (4.0) Foreign (7.5) 28.6 (11.3) (35.9) 23.8 (28.9) Total $ (30.2) $ 26.8 $ (27.6) A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the expense for income taxes is as follows (in millions): Years Ended December 31, 2024 2023 2022 Amount Percent Amount Percent Amount Percent Tax provision at U.S. statutory rate $ (16.6) 21.0 % $ (101.0) 21.0 % $ (20.3) 21.0 % Foreign income tax rate differential (3.7) 4.7 3.3 (0.7) (4.7) 4.9 Income from passthrough entities 1.8 (2.3) 1.9 (0.4) 0.6 (0.7) Branch earnings 2.2 (2.8) 1.4 (0.3) 0.2 (0.2) Global intangible low tax inclusion 3.4 (4.3) 3.5 (0.7) (1.6) 1.7 Foreign derived intangible income 2.4 (3.0) (0.3) 0.1 (0.1) 0.1 State income tax, net of federal benefit (2.5) 3.2 (0.6) 0.1 (3.1) 3.2 Adjustments to valuation allowances (4.7) 6.0 50.8 (10.6) (3.3) 3.4 Other tax credits (3.2) 4.1 (3.5) 0.7 (2.6) 2.7 Foreign tax credits (2.0) 2.5 (7.4) 1.5 1.8 (1.8) Other foreign operational taxes 0.7 (0.9) 1.8 (0.3) 1.5 (1.6) Remeasurement of deferred taxes due to tax law 1.1 (1.4) (0.3) 0.1 (3.0) 3.1 Non-deductible compensation expense 0.5 (0.6) 0.9 (0.2) 1.4 (1.4) Non-deductible acquisition expense — — (0.5) 0.1 5.4 (5.6) Goodwill impairment — — 84.5 (17.6) — — Uncertain tax positions (5.8) 7.4 (4.2) 0.9 1.1 (1.2) Worthless stock deduction (4.6) 5.8 — — — — Other, net 0.8 (1.1) (3.5) 0.7 (0.9) 1.0 Provision for income taxes $ (30.2) 38.3 % $ 26.8 (5.6) % $ (27.6) 28.6 % A benefit for income taxes of $30.2 million, an expense for income taxes of $26.8 million and a benefit for income taxes of $27.6 million in the years ended December 31, 2024, 2023, and 2022, respectively, resulted in an effective tax rate of 38.3%, (5.6)%, and 28.6% in 2024, 2023, and 2022, respectively. The Company’s effective tax rates differ from the statutory federal income tax rate of 21.0% due primarily to varying tax rates in foreign jurisdictions, the relative amounts of income we earn in those jurisdictions, non-deductible goodwill impairment, adjustments to valuation allowances, uncertain tax positions, worthless stock deductions, and acquisition related nondeductible expenses due to the Merger. Prior to the passage of the Tax Cuts and Jobs Act of 2017 ("Tax Act"), the Company asserted that substantially all of the undistributed earnings of its foreign subsidiaries were considered indefinitely reinvested and accordingly, no deferred taxes were provided. Due to the Tax Act, the Company has significant earnings and profits from its foreign subsidiaries that it can generally repatriated free of U.S. federal tax. As a result of the Company’s treasury policy to simplify and expediate its intercompany cash flows, as evidenced by the use of cash pooling, and in light of the Company’s demonstrated goal of driving growth though inorganic/acquisitional means, the Company does not assert indefinite reinvestment to the extent of each controlled foreign corporation's earnings and profits and to the extent of any foreign partnership’s U.S. tax capital accounts. As a result, the Company has provided for non-U.S. withholding taxes, U.S. federal tax related to currency movement on previously taxed earnings and profits, and U.S. state taxes on unremitted earnings. Additionally, the Organization for Economic Cooperation and Development (“OECD”) has reached agreement on an approach to establish a minimum global tax, set at 15%, for large multi-national enterprises, such as the Company. The OECD has recommended that certain aspects of this approach, referred to as “Pillar Two”, be made effective beginning in 2024, and many jurisdictions in which the Company operates have implemented Pillar Two legislation becoming effective in 2024, while others are considering implementation of Pillar Two rules. While such new rules introduce complexity into the Company’s calculation of income tax expense, Pillar Two does not have a material impact to the Company’s tax expense in 2024. Due to the novelty and complexity of Pillar Two, the Company continues to monitor for advancements and further guidance on Pillar Two rules, considering impacts of such developments on its tax expense. Net deferred income tax assets (liabilities) were comprised of the following (in millions): December 31, 2024 2023 Deferred Tax Assets Receivable allowances $ 1.4 $ 1.3 Postretirement and other employee benefits 7.5 10.9 Net operating loss and tax credit carryforwards 313.3 305.5 Capital loss carryforward 33.6 47.4 Accruals and other liabilities — 0.8 Investment in subsidiaries 1.8 0.1 Capitalized research & development 45.3 36.8 Section 163(j) interest limitation 15.6 9.9 Right of use liabilities 17.4 14.7 Other 15.6 15.0 451.5 442.4 Less: Valuation allowance (286.1) (323.0) Net deferred income tax assets $ 165.4 $ 119.4 Deferred Tax Liabilities Net property, plant and equipment $ (83.2) $ (89.2) Intangibles (132.3) (136.7) Derivatives (13.8) (9.0) Right of use assets (16.3) (15.1) Reserves and accruals (2.7) — Foreign currency translation (9.5) — Other (0.8) (5.3) Net deferred income tax liabilities $ (258.6) $ (255.3) Total net deferred income tax liabilities $ (93.2) $ (135.9) As of December 31, 2024, the Company had approximately $255.6 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions, with the following expiration dates: 2024 2026-2044 $ 174.4 Indefinite 81.2 Total $ 255.6 In addition, the Company has $32.8 million of tax effected capital loss carryforwards, of which $25.0 million will expire in 2026 and $7.8 million are indefinite lived. The Company also has $20.1 million and $9.8 million of foreign tax credits and state tax credits and that will expire between 2028 – 2034, and 2024 – 2044, respectively. The Company's deferred tax asset valuation allowances are primarily the result of uncertainties regarding the future realization of recorded tax benefits on tax loss, capital loss, and credit carryforwards. The valuation allowance on deferred tax assets as of December 31, 2024, is substantially in the United States federal, state, and Luxembourg, of $44.0 million, $17.3 million, and $203.5 million, respectively. The Company's assumptions, judgments and estimates relative to the valuation of these net deferred tax assets take into account available positive and negative evidence of realizability, including recent financial performance, the ability to realize benefits of restructuring and other recent actions, projections of the amount and category of future taxable income and tax planning strategies. Actual future operating results and the underlying amount and character of income in future periods could differ from the Company's current assumptions, judgments and estimates. The Company believes that it will generate sufficient future taxable income to realize the tax benefits related to the remaining net deferred tax assets. The following table summarizes the activity related to the Company's unrecognized tax benefits related to income taxes (in millions): Years Ended December 31, 2024 2023 2022 Uncertain tax position balance at beginning of year $ 20.0 $ 19.9 $ 9.8 Increases in current year tax positions 5.4 0.6 0.1 Increases in prior year tax positions 5.2 4.4 1.4 Decreases due to lapse of statute of limitations (5.6) (2.4) (0.4) Decreases due to settlements (1.3) (2.1) — Increases (decreases) from business acquisitions — (0.4) 9.0 Uncertain tax position balance at end of year $ 23.7 $ 20.0 $ 19.9 The liability for unrecognized tax benefits included $10.9 million as of December 31, 2024 that if recognized would impact the Company's effective tax rate. We anticipate a decrease in unrecognized tax benefits by the end of 2025 of $2.6 million as a result of a lapse of the statute of limitations and audit settlements. The Company's policy with respect to penalties and interest in connection with income tax assessments or related to unrecognized tax benefits is to classify penalties as provision for income taxes and interest as interest expense in its Consolidated Statements of Income (Loss). The Company files income tax returns, including returns for its subsidiaries, with federal, state, local and foreign jurisdictions. The Company finalized an audit in Italy for tax years 2019-2020 during 2024. All expected impacts have been recorded in 2024 or earlier and are immaterial to the tax rate. Currently, the company is under U.S. audit for tax year 2020. The Company anticipates finalizing this audit during 2025. All expected impacts have been recorded in 2024. The 2018-2023 tax years remain subject to examination by other major tax jurisdictions.

Postretirement and Other Benefi

Postretirement and Other Benefits	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Postretirement and Other Benefits	Postretirement and Other Benefits The Company sponsors a number of different defined contribution retirement plans, alternative retirement plans and/or defined benefit pension plans across its operations. Defined benefit pension plans are sponsored in the United States, France, United Kingdom, Germany, Italy, and Canada and OPEB benefits related to postretirement healthcare and life insurance are sponsored in the United States, Germany, and Canada. Following the disposal of our site in Eerbeek Netherlands during the fourth quarter of 2024, the Company no longer sponsors a defined benefit pension plan in the Netherlands. In connection with the Merger, the Company assumed Neenah's defined benefit pension and OPEB plans, as well as sponsorship of the defined contribution retirement plan. In addition, Neenah has a supplemental employee retirement plan ("SERP"), which is a non-qualified defined benefit plan, and a supplemental retirement contribution plan ("SRCP"), which is a non-qualified, unfunded defined contribution plan. The Company provides benefits under the non-qualified SERP and SRCP plans to the extent necessary to fulfill the intent of its retirement plans without regard to the limitations set by the Internal Revenue Code on qualified retirement benefit plans. North American Pension and Postretirement Healthcare and Life Insurance Benefits The U.S. operations have defined benefit retirement plans that cover certain full-time employees. Retirement benefits are based on either a cash balance benefit formula or a final average pay formula for certain employees who were "grandfathered" and retained retirement benefits under the terms of the plan prior to its amendment to include a cash balance benefit formula. Benefits related to the U.S. defined benefit and pension plan are frozen for all employees. The U.S. operations also have unfunded healthcare and life insurance benefit plans, or OPEB plans, which cover certain of its retirees through age 65. Some employees who retained benefits under the terms of the Company's plans prior to certain past amendments receive retiree healthcare coverage at rates subsidized by the Company. For other eligible employees, retiree healthcare coverage access is offered at full cost to the retiree. The postretirement healthcare plans include a limit on the Company's share of costs for current and future retirees. The U.S. operations' retiree life insurance plans are noncontributory. Non-US Pension Benefits In the U.K., the Company has multiple defined benefit pension plans which holds the assets and liabilities of former U.K. employees. These plans are closed to new members. The assets of the plan are held separately from the Company under Trust and the plan is managed by a professional Trustee. In July of 2024, the UK Court of Appeal upheld a ruling in the matter of Virgin Medial Limited vs. NTL Pension Trustees II Limited that certain historical amendments for contracted-out defined benefit schemes were invalid if required actuarial confirmations were not obtained. The Company, and its pension scheme trustees and actuaries have conducted a preliminary review following the ruling and have not identified any implications for its UK pension defined benefit plans. In Germany, the Company sponsors retirement benefit plans which are unfunded. There is no legal or governmental obligation to fund these plans. These benefits are paid out in a normal course of business consistent with regulatory requirements. The U.S, U.K, Germany, and French pension plans accounted for the majority of the Company's total plan assets and total Accumulated Benefit Obligations (ABO) at December 31, 2024. The Company uses a measurement date of December 31 for its pension plans and other postretirement plans. The funded status of the pension plans as of December 31, 2024 and 2023 and the OPEB plans as of December 31, 2024 and 2023 was as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Change in PBO: PBO at beginning of year (1) $ 342.0 $ 339.6 $ 219.5 $ 189.9 $ 23.2 $ 25.0 $ 3.8 $ 3.6 Acquisition — — — 0.2 — — — — Service cost 1.4 1.6 1.2 1.0 0.1 0.2 1.2 1.2 Interest cost 16.9 17.7 8.7 8.4 1.1 1.2 0.1 0.1 Actuarial (gain) loss (10.5) 8.6 (14.3) 27.9 0.5 1.1 (0.1) 0.2 Participant contributions — — — — — 0.1 — — Plan amendment — — — 0.6 — — — — Plan settlements — — (33.9) (4.8) — — — — Gross benefits paid (26.0) (25.5) (13.8) (13.2) (4.4) (4.4) (1.7) (1.4) Currency translation effect — — (4.5) 9.5 — — (0.2) 0.1 PBO at end of year $ 323.8 $ 342.0 $ 162.9 $ 219.5 $ 20.5 $ 23.2 $ 3.1 $ 3.8 Change in Plan Assets: Fair value of plan assets at beginning of year $ 356.8 $ 349.2 $ 192.9 $ 174.6 $ — $ — $ — $ — Actual return on plan assets 11.0 32.6 (5.6) 20.4 — — — — Employer contributions 0.3 0.5 1.9 6.8 4.5 4.3 1.7 1.4 Participant contributions — — — — — 0.1 — — Plan settlements — — (33.9) (4.8) — — — — Gross benefits paid (26.0) (25.5) (13.8) (13.2) (4.5) (4.4) (1.7) (1.4) Currency translation effect — — (2.4) 9.1 — — — — Fair value of plan assets at end of year $ 342.1 $ 356.8 $ 139.1 $ 192.9 $ — $ — $ — $ — Funded status at end of year (1) $ 18.3 $ 14.8 $ (23.8) $ (26.6) $ (20.5) $ (23.2) $ (3.1) $ (3.8) (1) Net pension assets of $32.9 million and $31.2 million were reflected within the Consolidated Balance Sheet as Other Assets as of December 31, 2024 and 2023, respectively. The PBO, ABO and fair value of pension plan assets for the Company's defined benefit pension plans and OPEB plans as of December 31, 2024 and 2023 were as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 PBO $ 323.8 $ 342.0 $ 162.9 $ 219.5 $ 20.5 $ 23.2 $ 3.1 $ 3.8 ABO 321.5 340.1 162.2 218.6 — — — — Fair value of plan assets 342.1 356.8 139.1 192.9 — — — — As of December 31, 2024 and 2023, the pre-tax amounts in Accumulated other comprehensive income, net of tax that have not been recognized as components of net periodic benefit cost for the pension and OPEB plans are as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Accumulated loss (gain) $ 16.3 $ 15.4 $ 8.4 $ 8.9 $ 0.4 $ 0.2 $ — $ — Prior service credit — — 0.5 0.5 — — — — Accumulated other comprehensive loss (gain) $ 16.3 $ 15.4 $ 8.9 $ 9.4 $ 0.4 $ 0.2 $ — $ — Actuarial assumptions are used to determine the Company's benefit obligations. The discount rate represents the interest rate used to determine the present value of future cash flows currently expected to be required to settle pension obligations. The discount rate fluctuates from year to year based on current market interest rates for high-quality, fixed-income investments. The Company also evaluates the expected average duration of its pension obligations in determining its discount rate. An assumed long-term rate of compensation increase is also used to determine the PBO. Healthcare cost trends are used to project future postretirement medical benefits payable from our plans. For purposes of measuring our U.S. plan obligations as of December 31, 2024, a 6.14% annual rate of increase in postretirement medical benefit costs was assumed; the rate was assumed to decrease gradually to 4.0% by 2048 and to remain at that level thereafter. The weighted average assumptions used to determine benefit obligations as of December 31, 2024 and 2023 were as follows: Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Discount rate 5.63 % 5.14 % 4.98 % 4.19 % 5.26 % 5.00 % 3.43 % 4.18 % Rate of compensation increase 1.93 % 1.90 % 2.72 % 0.45 % N/A 3.50 % 2.75 % 2.72 % The components of net pension benefit cost (benefit) during the years ended December 31, 2024, 2023, and 2022 were as follows (in millions): Pension Benefits U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Service cost $ 1.4 $ 1.6 $ 0.9 $ 1.2 $ 1.0 $ 0.7 Interest cost 16.9 17.7 9.3 8.7 8.4 4.4 Expected return on plan assets (22.4) (22.1) (11.9) (6.0) (4.3) (4.3) Amortizations and other — — 1.7 (2.4) 0.4 0.4 Net periodic benefit cost (benefit) $ (4.1) $ (2.8) $ — $ 1.5 $ 5.5 $ 1.2 Other Postretirement Benefits (1) US Non-US 2024 2023 2022 2024 2023 2022 Service cost $ 0.1 $ 0.2 $ 0.1 $ 1.2 $ 1.2 $ 0.4 Interest cost 1.1 1.2 0.6 0.1 0.1 — Expected return on plan assets — — — — — — Amortizations and other — — — — 0.1 0.2 Net periodic benefit cost (benefit) $ 1.2 $ 1.4 $ 0.7 $ 1.3 $ 1.4 $ 0.6 Assumptions are used to determine net periodic benefit costs. In addition to the discount rate and rate of compensation increase, which are used to determine benefit obligations, an expected long-term rate of return on plan assets is also used to determine net periodic pension benefit costs. The weighted average assumptions used to determine net periodic benefit costs for the years ended December 31, 2024, 2023, and 2022 were as follows: Pension Benefits U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Discount rate 5.14 % 5.42 % 4.09 % 4.32 % 4.53 % 3.71 % Expected long-term rate of return on plan assets 6.27 % 6.10 % 5.19 % 3.18 % 2.48 % 1.96 % Rate of compensation increase 1.90 % 1.90 % 1.90 % 2.72 % 0.45 % 2.77 % Other Postretirement Benefits (1) U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Discount rate 5.00 % 5.32 % 4.42 % 4.15 % 3.96 % 1.61 % Expected long-term rate of return on plan assets — % — % — % — % — % — % Rate of compensation increase 3.50 % 3.50 % 3.50 % 2.75 % 1.65 % 2.35 % The Company's investment strategy with respect to its U.S. pension plan assets is to maximize the return on investment of plan assets at an acceptable level of risk and to assure each plans' fiscal health. The target asset allocation varies based on the funded status of the plan in an effort to match the duration of the plan's liabilities to investments in long duration fixed income assets over time. For the year ended December 31, 2024, the target and actual allocation of plan assets were aligned. Investments under the U.K. plan are allocated based on a targeted return, driven by the funded status of the plan. The primary goal of the Company's pension plans is to maintain the highest probability of assuring future benefit payments to participants while providing growth of capital in real terms. To achieve this goal, the investment philosophy is to protect plan assets from large investment losses, particularly over time, while steadily growing the assets in a prudent manner. While there cannot be complete assurance that the objectives will be realized, the Company believes that the likelihood of realizing the objectives are reasonable based upon this investment philosophy. The Company has an investment committee that meets on a periodic basis to review the portfolio returns and to determine asset mix targets. The pension plans' asset allocations by category at December 31, 2024 and 2023 were as follows: U.S. Non-U.S. 2024 2023 2024 2023 Plan Asset Category Cash and cash equivalents 1% 1% 1% 4% Equity securities (1) : Domestic large cap 8 9 — — Domestic small cap 1 3 — — International 6 16 — — Fixed income securities 84 71 99 96 Total 100% 100% 100% 100% (1) None of the Company's pension plan assets are targeted for investment in Mativ stock, except that it is possible that one or more mutual funds held by the plan could hold shares of Mativ. The Company's pension assets are classified according to an established fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument's level within the hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. The following table sets forth by level, within the fair value hierarchy, the pension plans' assets at fair value as of December 31, 2024 (in millions): U.S. Non-U.S. Plan Asset Category Total Other (1) Level 1 Total Level 1 Level 2 Cash equivalents $ 3.2 $ — $ 3.2 $ 1.0 $ 1.0 $ — Equity securities: Domestic large cap 26.5 26.5 — — — — Domestic small cap 4.2 4.2 — — — — International 19.2 19.2 — — — — Fixed income securities: US Government securities 109.1 109.1 — — — — Corporate bonds 162.7 162.7 — 68.4 — 68.4 International bonds 17.2 17.2 — 68.8 — 68.8 Other — — — 0.9 — 0.9 Total $ 342.1 $ 338.9 $ 3.2 $ 139.1 $ 1.0 $ 138.1 The following table sets forth by level, within the fair value hierarchy, the pension plans' assets at fair value as of December 31, 2023 (in millions): U.S. Non-U.S. Plan Asset Category Total Other (1) Level 1 Total Level 1 Level 2 Cash equivalents $ 2.7 $ — $ 2.7 $ 5.6 $ 5.6 $ — Equity securities: Domestic large cap 33.8 33.8 — — — — Domestic small cap 10.3 10.3 — — — — International 56.0 56.0 — — — — Fixed income securities: US Government securities 68.1 68.1 — — — — Corporate bonds 149.7 149.7 — 87.3 — 87.3 International bonds 3.8 3.8 — 64.0 — 64.0 Other 32.4 32.4 — 1.1 — 1.1 Total $ 356.8 $ 354.1 $ 2.7 $ 158.0 $ 5.6 $ 152.4 (1) Investments held in Mutual Funds are measured at Net Asset Value ("NAV"), as determined by the fund manager, as a practical expedient and not are subject to hierarchy level classification disclosure. The Company expects the following estimated undiscounted future pension benefit payments, which are to be made from pension plan and employer assets, net of amounts that will be funded from retiree contributions, and which reflect expected future service, as appropriate (in millions): U.S. Non-U.S. 2025 $ 26.9 $ 12.8 2026 $ 26.8 $ 13.3 2027 $ 26.9 $ 14.5 2028 $ 26.5 $ 13.8 2029 $ 26.3 $ 14.8 2030-2033 $ 126.3 $ 79.7 The Company is not required to contribute during 2024 to its U.S. pension plans, although, it may make discretionary contributions. Contributions to the U.K. pension plans are subject to an agreed schedule with the external trustees in line with funding requirements, along with contributions to certain pay-as-you-go plans in the US, Canada, Germany, France, and Italy. We contributed $0.0 million to the U.K. plan, $1.4 million to the Germany plan and $0.2 million to the U.S plans. Pension contributions to all other plans were immaterial during the year ended December 31, 2024. Other Benefits We sponsor qualified defined contribution plans covering substantially all U.S. employees. Under the plan, the Company matches a portion of employee contributions. The Company's cost under the plan was $15.0 million, $14.2 million, and $11.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Long-term Incentive Plan In April 2024, the Company adopted and the stockholders approved the Mativ Holdings, Inc. 2024 Equity and Incentive Plan (the "2024 Plan") which superseded and replaced the Schweitzer-Mauduit International, Inc. 2015 Long-term Incentive Plan (the "2015 LTIP"). The 2024 Plan is intended to promote the Company's long-term financial success by attracting and retaining outstanding executive personnel and to motivate such personnel by means of equity grants. Pursuant to the terms of the 2024 Plan, the Compensation Committee of the Board of Directors selects participants and establishes the terms of various types of equity-based compensation awards, including incentive and nonqualified stock options, stock appreciation rights ("SARs"), restricted stock awards ("RSAs"), restricted stock units ("RSUs"), RSUs with performance conditions ("PSUs"), in addition to certain cash-based awards. Subject to certain adjustments set forth in the 2024 Plan, the number of shares available for awards under the 2024 Plan is limited to 2,800,000. The Company's 2015 LTIP provided that the issuance of RSAs immediately transfers ownership rights in shares of its Common Stock to the recipient of the grant, including the right to vote the shares and to receive dividends thereon. Other types of stock awards available under the 2015 LTIP were not used prior to 2023. Beginning in 2023, the Board of Directors approved grants of RSUs and PSUs under the 2015 LTIP. In July 2023, the Company implemented a one-time conversion of all outstanding RSAs to RSUs. Following the conversion, there were no remaining RSAs outstanding. The 2015 LTIP provided for any unvested service-based equity awards to immediately vest on the occurrence of a qualifying Change in Control event (“CIC Event”) upon which the awardee is either terminated by the Company without Cause (as defined in the 2015 LTIP) or the employee voluntarily resigns from the Company for Good Reason (as defined in the 2015 LTIP) within 24 months of the CIC Event (“CIC Qualifying Termination”). As the Merger was a qualifying CIC Event, the unvested service-based equity awards of employees that met the criteria of CIC Qualifying Termination immediately vested on such CIC Qualifying Termination date. Upon the closing of the Merger, the Company modified the 2022 and 2021 performance-based equity awards then-outstanding under the 2015 LTIP to remove the performance and market-based vesting conditions for continuing employees, effectively converting the awards to service-only equity awards that cliff vest on the schedule applicable to the underlying performance-based equity awards. The fair value of the continuing employee awards will be recognized on a straight-line basis over the remaining service period, less any cost previously recognized on these performance-based equity awards. The performance-based equity awards held by an employee that experienced a CIC Qualifying Termination were also modified to accelerate vesting and to establish the number of shares underlying these awards at 100% of the target level as defined in the underlying award agreement rather than at the pro-rata target level based on service period completed as of the closing of the Merger. The 2015 LTIP remains in effect with respect to all outstanding awards granted under such plan until such awards have been exercised, forfeited, cancelled, expired, or otherwise terminated in accordance with the terms of such awards. In February 2024, the Board of Directors approved for the unvested awards issued and outstanding under the 2015 LTIP to be cash settled upon vesting. The decision represented a modification which resulted in the reclassification of the portion of the earned awards from equity to a liability as of the modification date. There was no incremental compensation expense recognized associated with the modification. RSUs and PSUs transfer ownership rights in shares of its Common Stock to the recipients of the grant upon vesting, including the right to vote the shares and receive dividends thereon. During the vesting period, the recipients are eligible for dividend equivalents. The RSUs generally vest over a three-year term as follows: 33.3% on each of the first, second and third anniversaries of the grant date, except for RSUs issued as retirement and special grant awards, which vest over a one-year term on the first anniversary of the grant date. Vesting is contingent upon continued employment or service. The unvested portion of a grantee’s RSU will be immediately forfeited and cancelled if the grantee ceases employment or service, except for retirement awards which vest on a pro rata basis according to the proportion of days employed during the vesting period of one year. RSUs, and PSUs have grant date fair values equal to the fair market value of the underlying stock on the date of grant. Forfeitures are accounted for as they occur. The Company recognizes compensation expense for PSUs when it is probable that the performance conditions will be achieved. The Company reassesses the probability of vesting at each reporting period and adjusts its compensation cost accordingly. Substantially all stock-based compensation expense has been recorded in Selling and general expenses on the consolidated statements of operations. Stock-based compensation expense was $11.3 million, $9.9 million, and $19.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, unrecognized compensation expense was $9.2 million and is expected to be recognized over a weighted average period of 1.7 years. Acquired Equity-Based Compensation Awards As provided in the Merger Agreement, all stock options (“Options”), SARs, RSUs and PSUs granted pursuant to Neenah’s 2018 Omnibus Stock and Incentive Compensation Plan that were outstanding immediately prior to the Merger were generally automatically converted into Options, SARs, RSUs and PSUs, respectively, with respect to the Company's common stock at the exchange ratio set forth in the Merger Agreement ("Exchange Ratio") and otherwise generally on the same terms and conditions (including vesting exercisability and/or settlement requirements) as applied to such awards prior to the closing of the Merger. At the closing of the Merger, the Options and SARs had fully vested and are exercisable by the grantees. Accordingly, there is no ongoing compensation expense related to the Options or SARs. Upon the closing of the Merger, the Company assumed 180,149 unvested Neenah RSUs, converted at the Exchange Ratio, with a total fair value of $4.2 million, which were converted to RSUs of the Company. In accordance with the terms of the Merger Agreement, the change in control eliminated the performance condition and market-based vesting conditions applicable to the Neenah PSUs; as such, only the three-year service condition remains. Upon the closing of the Merger, the Company assumed 292,032 unvested PSUs, converted at the Exchange Ratio, with a total fair value of $6.8 million, which were converted to RSUs of the Company. Converted RSUs will be accounted for the same as the RSUs described above and be recognized over a weighted-average period of approximately two years. Restricted Stock Awards In July 2023, the Company implemented a one-time conversion of all outstanding RSAs to RSUs. There were no RSAs granted in 2024. The following table presents RSA activity for the years ended December 31, 2023 and 2022: 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 526,961 $ 31.89 377,729 $ 36.78 Granted — — 678,343 31.17 Forfeited (97,629) 33.46 (49,617) 30.57 Vested (292,519) 32.98 (479,494) 34.81 Converted to RSUs (136,813) 28.43 — — Outstanding at December 31 — $ — 526,961 $ 31.89 Restricted Stock Units The following table presents activity of RSUs for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 562,070 $ 24.68 343,142 $ 23.41 — $ — Granted 513,962 17.87 277,479 25.33 — — Acquired and converted — — — — 472,181 23.41 Converted from RSAs — — 136,813 28.43 — — Forfeited (81,099) 22.41 (69,627) 26.08 (5,172) 23.41 Vested (276,418) 24.50 (125,737) 25.95 (123,867) 23.41 Outstanding at December 31 718,515 $ 20.13 562,070 $ 24.68 343,142 $ 23.41 Performance Stock Units The following table presents activity of PSUs for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 273,225 $ 24.47 320,732 $ 23.57 — $ — Granted 291,395 16.44 105,867 26.74 320,732 23.57 Forfeited (82,340) 21.43 (151,186) 24.12 — — Vested (59,831) 20.71 (2,188) 26.74 — — Outstanding at December 31 422,449 $ 20.06 273,225 $ 24.47 320,732 $ 23.57 Basic and Diluted Shares Reconciliation The Company uses the two-class method to calculate earnings per share. The Company has granted equity-based compensation awards that contain non-forfeitable rights to dividends or dividend equivalents on unvested shares. Since these unvested shares are considered participating securities under the two-class method, the Company allocates earnings per share to common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Diluted net income per common share is computed based on net income divided by the weighted average number of common and potential common shares outstanding. Potential common shares during the respective periods are those related to dilutive stock-based compensation, including long-term share-based incentive compensation, and directors' accumulated deferred stock compensation which may be received by the directors in the form of stock or cash. A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income per share follows (in millions, shares in thousands): Years Ended December 31, 2024 2023 2022 Numerator (basic and diluted): Net loss $ (48.7) $ (309.5) $ (6.6) Less: Dividends paid to participating securities (0.2) (0.7) (0.9) Undistributed and distributed loss available to common stockholders $ (48.9) $ (310.2) $ (7.5) Denominator: Average number of common shares outstanding 54,313.3 54,506.9 42,442.2 Effect of dilutive stock-based compensation (1) — — — Average number of common and potential common shares outstanding 54,313.3 54,506.9 42,442.2 (1) Diluted loss per share excludes the weighted average potential common shares as their inclusion would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Other Commitments As of December 31, 2024, we had contractual obligations to purchase products and services (primarily raw materials), capital projects, and energy totaling $100.6 million. These commitments extend beyond 2028. The Company has certain other letters of credit, guarantees and surety bonds outstanding at December 31, 2024, which are not material either individually or in the aggregate. In connection with the EP Divestiture, we undertook to indemnify and hold Evergreen Hill Enterprise harmless from claims and liabilities related to the EP business that were identified as excluded or specified liabilities in the related agreements up to an amount not to exceed $10 million. As of December 31, 2024, there were no material claims pending under this indemnification. Litigation We are involved in various legal proceedings from time to time, including relating to contracts, commercial disputes, taxes, environmental issues, employment and workers' compensation claims, product liability and other matters. We periodically review the status of these proceedings with both inside and outside counsel. We believe that the ultimate disposition of these matters will not have a material effect on the results of operations in a given quarter or year. Environmental Matters The Company's operations are subject to various nations' federal, state and local laws, regulations and ordinances relating to environmental matters. The nature of the Company's operations exposes it to the risk of claims with respect to various environmental matters, and there can be no assurance that material costs or liabilities will not be incurred in connection with such claims. While the Company has incurred in the past several years, and will continue to incur, capital and operating expenditures in order to comply with environmental laws and regulations, it believes that its future cost of compliance with environmental laws, regulations and ordinances, and its exposure to liability for environmental claims and its obligation to participate in the remediation and monitoring of certain hazardous waste disposal sites, will not have a material effect on its financial condition or results of operations. However, future events, such as changes in existing laws and regulations, or unknown contamination or costs of remediation of sites owned, operated or used for waste disposal by the Company (including contamination caused by prior owners and operators of such sites or other waste generators) may give rise to additional costs which could have a material effect on its financial condition or results of operations. General Matters In the ordinary course of conducting business activities, the Company and its subsidiaries become involved in certain other judicial, administrative and regulatory proceedings involving both private parties and governmental authorities. These proceedings include insured and uninsured regulatory, employment, intellectual property, general and commercial liability, environmental and other matters. At this time, the Company does not expect any of these proceedings to have a material effect on its reputation, business, financial condition, results of operations or cash flows. However, the Company can give no assurance that the results of any such proceedings will not materially affect its reputation, business, financial condition, results of operations or cash flows. Employees and Labor Relations As of December 31, 2024, approximately 26% of our U.S. workforce and 35% of our Non-U.S. workforce are under collective bargaining agreements. Approximately 26% of all U.S. employees and 12% of our Non-U.S. employees are under collective bargaining agreements that will expire in the next 12 months. For our Non-U.S. workforce, union membership is voluntary and does not need to be disclosed to the Company under local laws. As a result, the number of employees covered by the collective bargaining agreements in some countries cannot be determined.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Effective with the Merger, the Company reassessed its reportable segments and concluded that it had two operating product line segments that are also the reportable segments for financial reporting purposes: Advanced Technical Materials ("ATM") and Fiber-Based Solutions ("FBS"). ATM was comprised of the legacy SWM Advanced Materials & Structures segment and certain legacy Neenah segments allocated to ATM. FBS was comprised of the legacy SWM Engineered Papers segment and the legacy Neenah Fine Paper and Packaging segment. As part of an organizational realignment initiative effective during the first fiscal quarter of 2024, we reorganized into two new reportable segments: (1) Filtration & Advanced Materials ("FAM") and (2) Sustainable & Adhesive Solutions ("SAS"). The FAM segment supplies customers directly, serving a diverse set of generally high-growth end markets. FAM end markets include water and air purification, life sciences, industrial processes, transportation, glass and glazing, packaging, agriculture, building and construction, safety and security. SAS is focused primarily on tapes, labels, liners, specialty paper, packaging and healthcare solutions. The SAS segment supplies customers through distribution and directly, serving growing and mature end markets including building and construction, DIY, product packaging, consumer & commercial papers, personal care, advanced wound care, medical device fixation and medical packaging. The change in reportable segments reflects the realignment of management and the related internal review of our operating segments. The prior period presentation has been recasted to align with our current segment reporting structure. The accounting policies of the reportable segments are the same as those described in Note 2.Summary of Significant Accounting Policies. Our Chief Operating Decision Maker ("CODM") is our President and Chief Executive Officer. The CODM considers operating profit when making resource allocation decisions for each segment. Information about Net Sales and Operating Profit (Loss) The CODM primarily evaluates segment performance and allocates resources based on Operating profit (loss). General corporate expenses that do not directly support the operations of the business segments are unallocated expenses. Assets are managed on a total company basis and are therefore not disclosed at the segment level. Net sales, costs of products sold, nonmanufacturing expense, restructuring and impairment expense, and operating profit (loss) by segments were (in millions): Years Ended December 31, 2024 2023 2022 Net sales FAM $ 766.5 $ 810.0 $ 776.6 SAS 1,214.6 1,216.0 860.3 Consolidated $ 1,981.1 $ 2,026.0 $ 1,636.9 Cost of products sold FAM $ 592.3 $ 613.3 $ 582.8 SAS 1,024.7 1,056.9 748.1 Consolidated $ 1,617.0 $ 1,670.2 $ 1,330.9 Years Ended December 31, 2024 2023 2022 Total nonmanufacturing expense FAM $ 98.6 $ 94.6 $ 88.1 SAS 115.5 115.1 86.5 Total segments 214.1 209.7 174.6 Unallocated 105.6 136.4 152.5 Consolidated $ 319.7 $ 346.1 $ 327.1 Restructuring and impairment FAM $ 5.6 $ 2.8 $ 14.8 SAS 29.1 420.3 1.7 Total segments 34.7 423.1 16.5 Unallocated 3.4 0.5 2.6 Consolidated $ 38.1 $ 423.6 $ 19.1 Operating profit (loss) FAM $ 70.0 $ 99.3 $ 90.9 SAS 45.4 (376.3) 24.0 Total segments 115.4 (277.0) 114.9 Unallocated (109.1) (136.9) (155.1) Consolidated $ 6.3 $ (413.9) $ (40.2) Capital spending and depreciation by segments were (in millions): Capital Spending Depreciation Years Ended December 31, Years Ended December 31, 2024 2023 2022 2024 2023 2022 FAM $ 24.0 $ 29.7 $ 24.5 $ 24.9 $ 25.3 $ 18.9 SAS 30.0 33.1 20.5 51.4 54.3 32.6 Total segments 54.0 62.8 45.0 76.3 79.6 51.5 Unallocated 1.0 3.2 0.6 1.4 2.1 0.4 Consolidated $ 55.0 $ 66.0 $ 45.6 $ 77.7 $ 81.7 $ 51.9 Information about Geographic Areas Long-lived assets by geographic area were as follows (in millions): December 31, 2024 2023 U.S. $ 340.5 $ 369.8 France 28.1 32.2 Germany 161.4 174.7 U.K. 56.1 56.6 Other foreign countries 58.0 65.8 Consolidated $ 644.1 $ 699.1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (48.7)	$ (309.5)	$ (6.6)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have developed processes for assessing, identifying and managing material risks from cybersecurity threats. Our enterprise risk management system incorporates risks from cybersecurity threats alongside other risks to the company. We employ a range of tools and services to inform our assessment, identification and management of material risks from cybersecurity threats, which include from time to time: • monitoring emerging data protection laws and implementing responsive changes to our processes; • undertaking periodic reviews of our policies with customers, partners, and suppliers and statements related to cybersecurity; • conducting cybersecurity management and incident training for employees involved in our systems and processes that handle sensitive data; • conducting phishing email simulations for employees and contractors with access to corporate email systems; • requiring employees, as well as third-parties who provide services on our behalf, to treat information and data with care; and • educating our teams on incident response, conducting tabletop exercises and using the findings to improve our processes and technologies. We maintain a cybersecurity incident response plan designed to secure the enterprise, mitigate the impact of an incident, restore normal business operations, prevent similar future incidents and comply with applicable regulatory obligations arising from an incident. As part of the above process, we periodically engage with consultants and other third-parties, including annually having a third-party perform penetration testing and review our cybersecurity program to help identify areas for improvement and/or compliance. The Company’s cybersecurity procedures have been developed based on the National Institute of Standards and Technology ("NIST") cybersecurity framework. We also engage with a third-party security operation center to assist in monitoring our cybersecurity risk environment. Our risk management processes also address cybersecurity threat risks associated with our use of third-party service providers. For a discussion of whether and how any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, see “Part I, Item 1A. Risk Factors -- A failure of, or a security breach in a key information technology system or process or other unusual events could compromise our information and expose us to liability, which could adversely affect our business; IT project delays and overruns are possible” which is incorporated by reference into this Item 1C. As previously disclosed, during the three-month period ending September 30, 2022, the Company became aware of a cyberattack that had been recently made against certain systems within the Company’s network environment. The attack temporarily affected operations and caused delays in execution of sales transactions at some locations. In addition, the Company incurred financial costs to investigate and remediate the incident, some of which was mitigated by insurance. During the incident, the attackers accessed and exfiltrated Company data, including some personally identifying information of certain Company employees. The Company contained the incident, notified affected individuals, and restored operations. The Company put in place remediation measures designed to help prevent future similar attacks and implemented certain other enhancements to its security system.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed processes for assessing, identifying and managing material risks from cybersecurity threats. Our enterprise risk management system incorporates risks from cybersecurity threats alongside other risks to the company. We employ a range of tools and services to inform our assessment, identification and management of material risks from cybersecurity threats, which include from time to time: • monitoring emerging data protection laws and implementing responsive changes to our processes; • undertaking periodic reviews of our policies with customers, partners, and suppliers and statements related to cybersecurity; • conducting cybersecurity management and incident training for employees involved in our systems and processes that handle sensitive data; • conducting phishing email simulations for employees and contractors with access to corporate email systems; • requiring employees, as well as third-parties who provide services on our behalf, to treat information and data with care; and • educating our teams on incident response, conducting tabletop exercises and using the findings to improve our processes and technologies.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Oversight of cybersecurity risk is a joint responsibility of the Board of Directors and the Audit Committee. The Company’s Chief Information Officer (the “CIO”) provides quarterly updates to the Audit Committee and the chair of the Audit Committee regularly updates the Board of Directors on cybersecurity matters potentially impacting the Company. Additionally, the CIO briefs the Board of Directors on information security matters at least annually. In addition to oversight by the Audit Committee and the Board of Directors, our CIO chairs a Working Council that includes our Chief Financial Officer, Chief Human Resources and Communications Officer and our Chief Legal and Administrative Officer. Our IT organization also includes a Chief Information Security Officer who is responsible for establishing processes as well as management of all cyber security risks and programs to mature our NIST posture. Our CIO has served in this role since 2023 and has more than 30 years of experience in the aggregate in various IT leadership roles. His educational background includes a master’s in business administration in Information Systems from The State University of New York at Albany, and a bachelor’s degree in electrical engineering from Harcourt Butler Technological Institute, Kanpur, India.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Oversight of cybersecurity risk is a joint responsibility of the Board of Directors and the Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Company’s Chief Information Officer (the “CIO”) provides quarterly updates to the Audit Committee and the chair of the Audit Committee regularly updates the Board of Directors on cybersecurity matters potentially impacting the Company.
Cybersecurity Risk Role of Management [Text Block]	Oversight of cybersecurity risk is a joint responsibility of the Board of Directors and the Audit Committee. The Company’s Chief Information Officer (the “CIO”) provides quarterly updates to the Audit Committee and the chair of the Audit Committee regularly updates the Board of Directors on cybersecurity matters potentially impacting the Company. Additionally, the CIO briefs the Board of Directors on information security matters at least annually. In addition to oversight by the Audit Committee and the Board of Directors, our CIO chairs a Working Council that includes our Chief Financial Officer, Chief Human Resources and Communications Officer and our Chief Legal and Administrative Officer. Our IT organization also includes a Chief Information Security Officer who is responsible for establishing processes as well as management of all cyber security risks and programs to mature our NIST posture. Our CIO has served in this role since 2023 and has more than 30 years of experience in the aggregate in various IT leadership roles. His educational background includes a master’s in business administration in Information Systems from The State University of New York at Albany, and a bachelor’s degree in electrical engineering from Harcourt Butler Technological Institute, Kanpur, India.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Oversight of cybersecurity risk is a joint responsibility of the Board of Directors and the Audit Committee. The Company’s Chief Information Officer (the “CIO”) provides quarterly updates to the Audit Committee and the chair of the Audit Committee regularly updates the Board of Directors on cybersecurity matters potentially impacting the Company. Additionally, the CIO briefs the Board of Directors on information security matters at least annually. In addition to oversight by the Audit Committee and the Board of Directors, our CIO chairs a Working Council that includes our Chief Financial Officer, Chief Human Resources and Communications Officer and our Chief Legal and Administrative Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO has served in this role since 2023 and has more than 30 years of experience in the aggregate in various IT leadership roles. His educational background includes a master’s in business administration in Information Systems from The State University of New York at Albany, and a bachelor’s degree in electrical engineering from Harcourt Butler Technological Institute, Kanpur, India.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Oversight of cybersecurity risk is a joint responsibility of the Board of Directors and the Audit Committee. The Company’s Chief Information Officer (the “CIO”) provides quarterly updates to the Audit Committee and the chair of the Audit Committee regularly updates the Board of Directors on cybersecurity matters potentially impacting the Company. Additionally, the CIO briefs the Board of Directors on information security matters at least annually. In addition to oversight by the Audit Committee and the Board of Directors, our CIO chairs a Working Council that includes our Chief Financial Officer, Chief Human Resources and Communications Officer and our Chief Legal and Administrative Officer. Our IT organization also includes a Chief Information Security Officer who is responsible for establishing processes as well as management of all cyber security risks and programs to mature our NIST posture. Our CIO has served in this role since 2023 and has more than 30 years of experience in the aggregate in various IT leadership roles. His educational background includes a master’s in business administration in Information Systems from The State University of New York at Albany, and a bachelor’s degree in electrical engineering from Harcourt Butler Technological Institute, Kanpur, India.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Reportable Segments	Reportable Segments
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements and the notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company believes the estimates and assumptions used in the preparation of these consolidated financial statements are reasonable, based upon currently available facts and known circumstances. Actual results may differ from those estimates and assumptions as a result of a number of factors, including those discussed elsewhere in this report and in its other public filings from time to time.
Reclassifications	Reclassifications Selling expense and General expense prior year amounts in the Consolidated Statements of Income (Loss) have been reclassified to Selling and general expense and Intangible asset amortization expense to conform to the current year presentation for comparative purposes. Certain prior year amounts in the Consolidated Statements of Comprehensive Income (Loss) have been reclassified to conform to the current year presentation for comparative purposes.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and wholly-owned, majority-owned and controlled subsidiaries. Effective with the sale, the EP business is presented as a discontinued operation for all periods presented. The consolidated financial statements and the notes thereto, unless otherwise indicated, are on a continuing operations basis. Refer to Note 9. Discontinued Operations for more information on the discontinued operation and transaction. The financial statements and information set forth herein are as of and for the year ended December 31, 2024 and represent the merged company operations of SWM and Neenah and their respective subsidiaries on a consolidated basis effective as of July 6, 2022 as a result of the Merger. Because SWM was deemed the accounting acquirer under GAAP, the historical financial statements of SWM are presented as the historical financial statements of the consolidated company prior to the Merger. Accordingly, references to "Mativ," "the Company," "we," or "our" means SWM and its subsidiaries when referring to periods prior to the Merger, and means Mativ Holdings, Inc. when referring to the periods after the Merger.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the revenues and expenses during the reporting period. Actual results could differ significantly from these estimates. The significant estimates underlying our consolidated financial statements include, but are not limited to, inventory valuation, goodwill valuation, useful lives of tangible and intangible assets, business acquisitions, equity-based compensation, derivatives, receivables valuation, pension, postretirement and other benefits, taxes and contingencies.
Revenue Recognition	Revenue Recognition The Company recognizes revenues when control of a product is transferred to the customer. Control is transferred when the products are shipped from one of the Company’s manufacturing facilities to the customer. Any freight costs billed to and paid by a customer are included in net sales. Refer to Note 3. Revenue Recognition for additional information. Freight Costs The cost the Company pays to deliver finished goods to our customers is recorded as a component of cost of products sold. These costs include the amounts paid to a third party to deliver the finished goods. Royalty Income
Foreign Currency Translation	Foreign Currency Translation The income statements of foreign entities are translated into U.S. dollars at average exchange rates prevailing during the periods presented. The balance sheets of these entities are translated at period-end exchange rates, and the differences from historical exchange rates are reflected in a separate component of Accumulated other comprehensive income (loss), net of tax ("AOCI") in the Consolidated Balance Sheets as unrealized foreign currency translation adjustments.
Derivative Instruments	Derivative Instruments The Company is exposed to changes in foreign currency exchange rates, interest rates and commodity prices. The Company utilizes a variety of practices to manage these market risks, including where considered appropriate, derivative instruments. The Company uses derivative instruments only for risk management purposes and not for trading or speculation. All derivative instruments the Company uses are either exchange traded or are entered into with major financial institutions in order to reduce credit risk and risk of nonperformance by third parties. The Company believes the credit risks with respect to the counterparties, and the foreign currency risks that would not be hedged if the counterparties fail to fulfill their obligations under the contracts, are not material in view of its understanding of the financial strength of the counterparties.
Cash and Cash Equivalents	Cash and Cash Equivalents
Business Combinations	Business Combinations The Company uses the acquisition method of accounting for business combinations. At the acquisition date, the Company records assets acquired and liabilities assumed at their respective fair market values. The Company estimates fair value using the exit price approach which is the price that would be received to sell an asset or paid to transfer a liability in an orderly market. An exit price is determined from a market participant's viewpoint in the principal or most advantageous market and may result in the Company valuing assets or liabilities at a fair value that
Impairment of Long-Lived Assets, Goodwill and Intangible Assets	Impairment of Long-Lived Assets, Goodwill, and Intangible Assets The Company evaluates the carrying value of long-lived assets, including property and equipment, operating lease right-of-use assets, goodwill, and intangible assets when events and circumstances warrant a review. Goodwill is also tested for impairment annually during the fourth quarter. We first evaluate qualitative factors, such as macroeconomic conditions and our overall financial performance by reporting unit to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. We then evaluate how significant each of the identified factors could be to the fair value or carrying amount of a reporting unit and weigh these factors in totality in forming a conclusion of whether or not it is more likely than not that the fair value of a reporting unit is less than its carrying amount (the “Step 0 Test”). Goodwill is not impaired if we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. Otherwise, we would proceed to the goodwill impairment test. Alternatively, we may also bypass the Step 0 Test and proceed directly to the goodwill impairment test, where the fair value of the reporting unit is compared to the carrying value. The difference between the total fair value of the reporting unit and the carrying value is recognized as an impairment to the reporting unit's goodwill. Refer to Note 10. Goodwill for further discussion of the Company's annual impairment test results. During the year ended December 31, 2023, we performed an interim quantitative goodwill impairment test, which resulted in a non-cash impairment charge of $401.0 million in the third quarter of 2023. The quantitative annual assessment as of October 1, 2024, did not result in an impairment. The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, which approximates a straight-line basis, over the estimated periods benefited. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted. Estimated useful lives range from 12 to 23 years for customer relationships and 4 to 23 years for developed technology, patents, and other intangible assets. The carrying value of long-lived assets is reviewed to determine if events or circumstances have changed which may indicate that the assets may be impaired, or the useful life may need to be changed. Upon occurrence of such a triggering event, the Company considers internal and external factors relating to each asset group, including expectation of future profitability, undiscounted cash flows and its plans with respect to the operations. If impairment is indicated, an impairment loss is measured by the amount the net carrying value of the asset exceeds its estimated fair value.
Transfers of Financial Assets	Transfers of Financial Assets
Environmental Spending	Environmental Spending Environmental spending is capitalized if such spending qualifies as property, plant and equipment, substantially increases the economic value or extends the useful life of an asset. All other such spending is expensed as incurred, including fines and penalties incurred in connection with environmental violations. Environmental spending relating to an existing condition caused by past operations is expensed. Liabilities are accrued when environmental assessments are probable, and the costs can be reasonably estimated. Generally, timing of these accruals coincides with completion of a feasibility study or commitment to a formal plan of action.
Capitalized Software Costs	Capitalized Software Costs
Income Taxes	Income Taxes Our income tax expense, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management’s best estimate of current and future taxes to be paid. We operate and are subject to income taxes in the U.S. and numerous foreign jurisdictions. The complexity of our global structure requires technical expertise in determining the allocation of income to each of these jurisdictions and consolidated income tax expense. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and results of recent operations. If it is determined that the Company would be able to realize the deferred tax assets in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC 740, Income Taxes , on the basis of a two-step process in which it is determined whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Pension and Other Postretirement Benefits Accounting	Pension and Other Postretirement Benefits Accounting The Company recognizes the estimated compensation cost of employees' pension and other postretirement benefits over their approximate period of service. The Company's earnings are impacted by amounts of expense recorded related to these benefits, which primarily consists of pension benefits in the United States, France, United Kingdom, and Germany. Each year's recorded expenses are estimates based on actuarial calculations of the Company's accumulated and projected benefit obligations ("PBOs") for the Company's various plans.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
Restricted Stock	Restricted Stock one
Long-term Incentive Plan Performance Share Units	Long-term Incentive Plan Performance Share Units The Company's long-term incentive compensation program ("LTICP") for key employees includes an equity-based award component that is provided through the Equity and Incentive Plan which the Company adopted in 2024 (the "2024 Plan") to replace the Schweitzer-Mauduit International, Inc. 2015 Long-term Incentive Plan (the "2015 LTIP"). The objectives under the LTICP are established at the beginning of a performance cycle and are intended to focus management on longer-term strategic goals. The Compensation Committee of the Board of Directors designates participants in the LTICP and the 2024 Plan and determines the equity-based award opportunity in the form of performance share units for each performance cycle, which is generally measured on the basis of a three-year performance period (the measurement period). The performance share units are sized after the performance period is completed, and vest at a predetermined date thereafter. The Company recognizes compensation expense with an offsetting credit to additional paid-in-capital over the performance period based on the fair value of the award at the date of grant, with compensation expense being adjusted cumulatively based on the number of shares expected to be earned according to the level of achievement of performance goals.
Fair Value Measurements	Fair Value Measurements The Company measures fair value in accordance with ASC 820, Fair Value Measurements and Disclosures, which establishes a framework for measuring fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 provides a fair value hierarchy based on the following three categories: • Level 1 - Measurements that reflect unadjusted quoted prices for identical assets or liabilities in active markets. • Level 2 - Measurements that include other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform and the discontinuance of the London Interbank Offered Rate ("LIBOR") if certain criteria are met. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. In December 2022, FASB issued ASU 2022-06 Reference Rate Reform (ASC 848): Deferral of the Sunset Date of Topic 848, which extended the final sunset date from December 31, 2022 to December 31, 2024. The provisions of ASU 2020-04 and ASU 2022-06 were adopted effective April 1, 2022 and did not have a material impact on the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendment enhances reportable segment disclosure requirements, primarily regarding significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of other segment items and expanded interim disclosures that align with those required annually, among other provisions. The amendments in this ASU became effective on a retrospective basis for annual periods beginning January 1, 2024, and interim periods within those annual periods beginning January 1, 2025. The adoption of this standard is reflected in Note 20. Segment Information. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendment enhances income tax disclosure requirements, particularly regarding the effective tax rate reconciliation and income taxes paid. The amendments in this ASU are effective for fiscal years beginning after December 15, 2024. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures." The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	Components of Accumulated other comprehensive income (loss), net of tax, were as follows (in millions): December 31, 2024 2023 Accumulated pension and OPEB liability adjustments, net of income tax benefit of $4.7 million and $4.3 million at December 31, 2024 and 2023, respectively $ (20.7) $ (20.3) Accumulated unrealized gain on derivative instruments, net of income tax benefit (expense) of $10.2 million and $12.8 million at December 31, 2024 and 2023, respectively 19.9 27.9 Accumulated unrealized foreign currency translation adjustments, net of income tax benefit of $14.6 million and $14.6 million at December 31, 2024 and 2023, respectively 13.9 31.5 Accumulated other comprehensive income, net of tax $ 13.1 $ 39.1
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss	Changes in the components of Accumulated other comprehensive income (loss), net of tax, were as follows (in millions): Years Ended December 31, 2024 2023 2022 Pre-tax Tax Net of Pre-tax Tax Net of Pre-tax Tax Net of Pension and OPEB liability adjustments $ (0.8) $ 0.4 $ (0.4) $ (11.2) $ 1.8 $ (9.4) $ 9.9 $ (6.4) $ 3.5 Derivative instrument adjustments (10.6) 2.6 (8.0) (16.6) 0.1 (16.5) 61.3 (15.0) 46.3 Foreign currency translation adjustments (17.6) — (17.6) 35.4 0.1 35.5 (33.7) 7.5 (26.2) Reclassification of foreign currency translation to income — — — 127.4 (2.5) 124.9 — — — Total $ (29.0) $ 3.0 $ (26.0) $ 135.0 $ (0.5) $ 134.5 $ 37.5 $ (13.9) $ 23.6

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Net sales are attributed to the following geographic locations of the Company’s direct customers (in millions): Years Ended December 31, 2024 2023 2022 FAM SAS Total FAM SAS Total FAM SAS Total United States $ 414.3 $ 683.2 $ 1,097.5 $ 456.9 $ 644.0 $ 1,100.9 $ 536.6 $ 411.8 $ 948.4 Europe 194.1 323.9 518.0 196.3 350.1 546.4 107.3 273.9 381.2 Asia/Pacific 119.1 90.9 210.0 119.4 87.3 206.7 100.7 70.3 171.0 Americas (excluding U.S.) 23.0 83.5 106.5 23.2 102.3 125.5 20.7 78.0 98.7 Other foreign countries 16.0 33.1 49.1 14.2 32.3 46.5 11.5 26.1 37.6 Net sales $ 766.5 $ 1,214.6 $ 1,981.1 $ 810.0 $ 1,216.0 $ 2,026.0 $ 776.8 $ 860.1 $ 1,636.9
Schedules of Disaggregated of Percentage	Net sales as a percentage by product category for the business were as follows: Years Ended December 31, 2024 2023 Filtration & netting 25 % 25 % Advanced films 14 % 15 % Tapes, labels & liners 31 % 30 % Paper & packaging 16 % 16 % Healthcare & other 14 % 14 % Net sales 100 % 100 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Expense, Lease Term and Discount Rate and Other Information	Components of lease expense incurred by the Company are as follows (in millions): Years Ended December 31, 2024 2023 Finance lease cost (cost resulting from lease payments): Interest expense on lease liabilities $ 1.6 $ 1.4 Amortization of right-of-use assets 1.8 1.4 Operating lease cost 13.4 11.3 Short-term lease expense 1.7 1.7 Sublease income (0.1) (0.1) Total lease cost $ 18.4 $ 15.7 Weighted-average remaining lease term (in years) and discount rate are as follows: December 31, 2024 2023 Weighted-average remaining lease term: Operating leases 6.7 8.4 Finance leases 13.3 14.1 Weighted-average discount rate: Operating leases 6.65 % 6.31 % Finance leases 7.74 % 7.49 % Supplemental cash flow information related to leases are as follows (in millions): Years Ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14.4 $ 14.3 Operating cash flows from finance leases 1.5 1.4 Leased assets obtained in exchange for new finance lease liabilities 0.5 2.0 Leased assets obtained in exchange for new operating lease liabilities (1) 11.3 25.1
Schedule of Maturity of Lease Liabilities, Finance Leases	The following table represents future contractual lease liabilities for finance and operating leases at December 31, 2024 (in millions): Finance Operating Total 2025 $ 2.9 $ 12.0 $ 14.9 2026 2.9 9.1 12.0 2027 2.3 7.5 9.8 2028 1.8 6.1 7.9 2029 1.8 5.4 7.2 Thereafter 17.5 17.0 34.5 Total lease payments 29.2 57.1 86.3 Less: Interest 11.3 11.2 22.5 Present value of lease liabilities $ 17.9 $ 45.9 $ 63.8
Schedule of Maturity of Lease Liabilities, Operating Leases	The following table represents future contractual lease liabilities for finance and operating leases at December 31, 2024 (in millions): Finance Operating Total 2025 $ 2.9 $ 12.0 $ 14.9 2026 2.9 9.1 12.0 2027 2.3 7.5 9.8 2028 1.8 6.1 7.9 2029 1.8 5.4 7.2 Thereafter 17.5 17.0 34.5 Total lease payments 29.2 57.1 86.3 Less: Interest 11.3 11.2 22.5 Present value of lease liabilities $ 17.9 $ 45.9 $ 63.8

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed	The consideration paid to merge with Neenah, and the fair values of the assets acquired and liabilities assumed as of the Merger date were as follows (in millions): Final Fair Value Allocation Adjustments Preliminary Allocation as of July 6, 2022 Cash and cash equivalents $ 55.9 $ — $ 55.9 Accounts receivable, net 198.1 (8.5) 206.6 Inventories, net 194.5 2.7 191.8 Other current assets 27.8 0.3 27.5 Property, plant and equipment, net 463.2 9.6 453.6 Intangible assets, net 236.9 17.9 219.0 Other assets 42.1 0.3 41.8 Total assets $ 1,218.5 $ 22.3 $ 1,196.2 Current debt $ 1.9 $ — $ 1.9 Accounts payable and other current liabilities 198.8 (9.1) 207.9 Long-term debt 22.8 — 22.8 Deferred income tax liabilities 86.7 19.0 67.7 Other liabilities 82.4 0.4 82.0 Net assets acquired 825.9 12.0 813.9 Goodwill 230.4 (12.0) 242.4 Total consideration $ 1,056.3 $ — $ 1,056.3
Schedule of Fair Values assigned to Identifiable Intangible Assets	The following table sets forth the components of identifiable intangible assets (in millions) and their estimated useful lives (in years): Fair Value Weighted-Average Amortization Period (Years) Amortizable intangible assets: Customer relationships $ 202.3 14.3 Trade names 14.4 20 Developed technology 20.2 7 Total amortizable intangible assets $ 236.9
Schedule of Net Sales and Net Income from Scapa	The unaudited supplemental pro forma financial information presented below is not necessarily indicative of consolidated results of continuing operations of the combined business had the Merger occurred as of January 1, 2022 (in millions): Year Ended December 31, 2022 Net sales $ 2,238.0 Net loss $ (13.6)

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable, net is summarized as follows (in millions): Years Ended December 31, 2024 2023 Trade receivables $ 132.2 $ 147.2 Business tax credits, including VAT 10.0 10.2 Hedge contracts receivable 7.4 2.6 Other receivables 16.1 19.7 Less allowance for credit losses (3.3) (3.2) Total accounts receivable, net $ 162.4 $ 176.5
Schedule of Allowance for Credit Losses	The following is the activity related to the allowance for credit losses (in millions): Years Ended December 31, 2024 2023 2022 Beginning balance $ 3.2 $ 2.0 $ 0.8 Bad debt expense 0.8 1.0 1.6 Recoveries (0.5) — (0.1) Write-offs and discounts (0.3) 0.2 (0.3) Currency translation 0.1 — — Ending balance $ 3.3 $ 3.2 $ 2.0
Schedule of Reverse Receivables Programs and A/R Sales Agreement Activity	The following table summarizes the activity under the Amended Receivables Sales Agreement and Reverse Receivables Program (in millions): Years Ended December 31 2024 2023 Trade accounts receivable sold to financial institutions $ 1,037.2 $ 1,096.1 Cash proceeds from financial institutions 1,036.3 1,094.8

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories by Major Class	The following table summarizes inventories by major class (in millions): December 31, 2024 2023 Raw materials $ 125.8 $ 129.9 Work in process 53.5 50.4 Finished goods 160.7 160.0 Supplies and other 15.1 12.6 Total inventories $ 355.1 $ 352.9

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment (and related depreciable lives) consisted of the following (in millions): December 31, 2024 2023 Land and improvements $ 68.2 $ 78.3 Buildings and improvements (20 to 40 years or remaining life of relevant lease) 192.6 191.6 Machinery and equipment (5 to 20 years) 597.8 558.6 Construction in progress 33.8 50.0 Gross property, plant and equipment 892.4 878.5 Less: Accumulated depreciation 272.1 206.0 Property, plant and equipment, net $ 620.3 $ 672.5

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations	Summary financial results of discontinued operations were as follows (in millions): Years Ended December 31, 2023 2022 Net sales $ 490.9 $ 530.5 Cost of products sold 373.4 398.9 Gross profit 117.5 131.6 Selling and general expense 29.4 32.0 Research and development expense 8.6 7.8 Intangible asset amortization expense — — Total nonmanufacturing expenses 38.0 39.8 Restructuring and other impairment expense 0.5 0.2 Operating profit 79.0 91.6 Interest expense (1) 49.0 28.8 Other income, net 194.8 9.3 Income from discontinued operations before income taxes 224.8 72.1 Income tax expense 29.1 15.0 Income from equity affiliates, net of income taxes 2.5 5.2 Income from discontinued operations, net of tax $ 198.2 $ 62.3 (1) Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to approximately $641.2 million. This debt repayment is based on the triggering of a financial covenant in the loan agreement and interest expense has been allocated to discontinued operations on a pro-rata basis within the Consolidated Statements of Income (Loss) and the Consolidated Statement of Cash Flows based on the outstanding loan balances.

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill for Each Reportable Segment	The changes in the carrying amount of goodwill for each reportable segment were as follows (in millions): FAM SAS Total Balance at December 31, 2022 $ 408.2 $ 436.0 $ 844.2 Goodwill acquired (1) 4.1 11.9 16.0 Goodwill impairment — (401.0) (401.0) Foreign currency translation and other 5.6 9.3 14.9 Balance at December 31, 2023 417.9 56.2 474.1 Foreign currency translation and other (6.0) (2.5) (8.5) Balance at December 31, 2024 $ 411.9 $ 53.7 $ 465.6 (1) Related to the measurement period adjustments for the Merger.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Amortized Intangible Assets	The gross carrying amount and accumulated amortization for intangible assets consisted of the following (in millions): December 31, 2024 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 726.6 $ 254.3 $ 472.3 Acquired and developed technology 90.3 47.9 42.4 Trade names 47.2 9.4 37.8 Non-compete agreements 2.9 2.9 — Patents 1.9 1.0 0.9 Total $ 868.9 $ 315.5 $ 553.4 December 31, 2023 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 743.8 $ 209.4 $ 534.4 Acquired and developed technology 92.6 38.6 54.0 Trade names 32.7 6.4 26.3 Non-compete agreements 2.9 2.8 0.1 Patents 1.9 0.9 1.0 Total $ 873.9 $ 258.1 $ 615.8 Unamortized Intangible Assets Trade names (1) $ 15.5 $ — $ 15.5 (1) Amortization of certain trade names began effective January 1, 2024 to reflect current expectations for the period over which the assets will contribute to future cash flows.
Schedule of Unamortized Intangible Assets	The gross carrying amount and accumulated amortization for intangible assets consisted of the following (in millions): December 31, 2024 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 726.6 $ 254.3 $ 472.3 Acquired and developed technology 90.3 47.9 42.4 Trade names 47.2 9.4 37.8 Non-compete agreements 2.9 2.9 — Patents 1.9 1.0 0.9 Total $ 868.9 $ 315.5 $ 553.4 December 31, 2023 Gross Accumulated Net Amortized Intangible Assets Customer relationships $ 743.8 $ 209.4 $ 534.4 Acquired and developed technology 92.6 38.6 54.0 Trade names 32.7 6.4 26.3 Non-compete agreements 2.9 2.8 0.1 Patents 1.9 0.9 1.0 Total $ 873.9 $ 258.1 $ 615.8 Unamortized Intangible Assets Trade names (1) $ 15.5 $ — $ 15.5 (1) Amortization of certain trade names began effective January 1, 2024 to reflect current expectations for the period over which the assets will contribute to future cash flows.
Schedule of Estimated Aggregate Amortization Expense for the Next Five Years	The following table shows the estimated aggregate amortization expense as of December 31, 2024 (in millions): 2025 $ 62.4 2026 $ 61.8 2027 $ 61.7 2028 $ 58.3 2029 $ 55.6

Restructuring and Other Impai_2

Restructuring and Other Impairment Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Changes in Restructuring Liabilities	The following table summarizes total restructuring and other impairment expense (in millions): Year Ended December 31, 2024 2023 2022 Filtration and Advanced Materials Severance and termination benefits $ 3.8 $ 0.1 $ 0.5 Other exit costs 1.8 2.7 1.2 FAM restructuring expense 5.6 2.8 1.7 Sustainable and Adhesive Solutions Severance and termination benefits 10.6 — 1.3 Other exit costs 2.3 1.1 1.3 SAS restructuring expense 12.9 1.1 2.6 Unallocated Severance and termination benefits 3.4 — — Other exit costs — 0.1 0.8 Unallocated restructuring expense 3.4 0.1 0.8 Total restructuring expense $ 21.9 $ 4.0 $ 5.1 Filtration and Advanced Materials Other impairment expense $ — $ — $ 13.0 Sustainable and Adhesive Solutions Other impairment expense 16.2 18.3 0.2 Unallocated Other impairment expense — 0.3 0.8 Total restructuring and other impairment expense $ 38.1 $ 22.6 $ 19.1 The following table summarizes changes in restructuring liabilities (in millions): 2024 2023 Balance at beginning of the period $ 3.8 $ 4.0 Charges for restructuring programs 21.9 0.3 Cash payments and other (23.5) (0.5) Balance at end of period $ 2.2 $ 3.8

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Total Debt	Total debt, net of debt issuance costs, is summarized in the following table (in millions): December 31, 2024 2023 Revolving facility - U.S. dollar borrowings $ 237.0 $ 260.0 Term loan A facility 83.3 84.3 Term loan B facility 116.5 160.5 Delayed draw term loan 270.1 273.2 6.875% Senior unsecured notes due October 1, 2026, net of discount of $3.2 million as of December 31, 2023 (1) — 341.9 8.000% Senior unsecured notes due October 1, 2029 400.0 — German loan agreement 5.9 9.0 Debt issuance costs (23.5) (24.3) Total debt 1,089.3 1,104.6 Less: Current debt (2.6) (2.8) Long-term debt $ 1,086.7 $ 1,101.8 (1) Amount includes a $4.9 million decrease in the fair value as of December 31, 2023 , due to changes in benchmark interest rates related to the senior unsecured notes. Refer to Note 14. Derivatives for additional information on our interest rate swaps designated as a fair value hedge.
Schedule of Expected Maturities for the Company's Debt Obligations	The following is the expected maturities for the Company's debt obligations as of December 31, 2024 (in millions): 2025 $ 2.6 2026 2.6 2027 591.1 2028 116.5 2029 400.0 Thereafter — Total $ 1,112.8
Schedule of Expected Future Amortization of the Company's Deferred Debt Issuance Costs	The following is the expected future amortization of the Company's deferred debt issuance costs as of December 31, 2024 (in millions): 2025 $ 7.9 2026 7.9 2027 4.7 2028 1.9 2029 1.1 Thereafter — Total $ 23.5

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives by Balance Sheet Location	The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2024 (in millions): Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 6.5 Accrued expenses and other current liabilities $ — Foreign exchange contracts Other assets 4.4 Other liabilities 2.9 Interest rate contracts Accounts receivable, net — Accrued expenses and other current liabilities — Interest rate contracts Other assets 10.1 Other liabilities — Total derivatives designated as hedges 21.0 2.9 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 0.8 Accrued expenses and other current liabilities — Total derivatives not designated as hedges 0.8 — Total derivatives $ 21.8 $ 2.9 The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2023 (in millions): Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 0.9 Accrued expenses and other current liabilities $ — Foreign exchange contracts Other assets — Other liabilities 18.4 Interest rate contracts Other assets 10.9 Other liabilities 4.9 Total derivatives designated as hedges 11.8 23.3 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 1.7 Accrued expenses and other current liabilities 1.5 Total derivatives not designated as hedges 1.7 1.5 Total derivatives $ 13.5 $ 24.8
Schedule of Net Effect Of Derivative Instruments Designated in Hedging Relationships by Income Statement Location	Gains (losses) on derivatives designated as cash flow and net investment hedges recognized in other comprehensive income (loss) are summarized below (in millions) on a pretax basis: Derivatives Designated in Hedging Relationships Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss) Year Ended December 31, 2024 2023 2022 Derivatives designated as cash flow hedge Amounts included in assessment of effectiveness $ 12.8 $ 11.6 $ 63.2 Derivatives designated as net investment hedge Amounts included in assessment of effectiveness 22.9 (14.8) 33.1 Total gain $ 35.7 $ (3.2) $ 96.3
Schedule of Effect the Derivative Instruments Not Designated as Cash Flow Hedging Instruments on Net Income	Gains (losses) on derivatives within the Consolidated Statement of Income (Loss) were as follows (in millions): Location of Gains (Losses) Amount of Gains (losses)Recognized Year Ended December 31, 2024 2023 2022 Effect of cash flow hedges Amount reclassified from Accumulated other comprehensive income (loss) to income Interest expense $ 23.4 $ 28.4 $ 1.9 Effect of net investment hedges Amount excluded from assessment of hedge effectiveness Interest expense 7.6 10.0 10.6 Effect of fair value hedges Hedged item Interest expense 4.1 4.6 — Derivative designated as hedges Interest expense (4.1) (4.6) — Effect of non-designated hedges Foreign exchange contracts Other income 3.8 0.8 3.6 Total gain $ 34.8 $ 39.2 $ 16.1

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and Other current liabilities consisted of the following (in millions): December 31, 2024 2023 Accrued salaries, wages and employee benefits $ 45.3 $ 45.0 Accrued sales discounts and allowances 15.4 11.9 Other accrued expenses 40.0 56.8 Total $ 100.7 $ 113.7

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes	For financial reporting purposes, loss before income taxes includes the following components (in millions): Years Ended December 31, 2024 2023 2022 U.S. $ (92.8) $ (256.9) $ (123.0) Foreign 13.9 (224.0) 26.5 Total $ (78.9) $ (480.9) $ (96.5)
Schedule of Components of Income Tax Expense (Benefit), Continuing Operations	An analysis of the expense (benefit) for income taxes from continuing operations follows (in millions): Years Ended December 31, 2024 2023 2022 Current income taxes: U.S. federal $ 0.8 $ (13.5) $ (12.3) U.S. state (2.1) (2.3) 0.3 Foreign 7.0 18.8 13.3 5.7 3.0 1.3 Deferred income taxes: U.S. federal (27.9) (5.7) (13.6) U.S. state (0.5) 0.9 (4.0) Foreign (7.5) 28.6 (11.3) (35.9) 23.8 (28.9) Total $ (30.2) $ 26.8 $ (27.6)
Schedule of Reconciliation of Income Tax Rate	A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the expense for income taxes is as follows (in millions): Years Ended December 31, 2024 2023 2022 Amount Percent Amount Percent Amount Percent Tax provision at U.S. statutory rate $ (16.6) 21.0 % $ (101.0) 21.0 % $ (20.3) 21.0 % Foreign income tax rate differential (3.7) 4.7 3.3 (0.7) (4.7) 4.9 Income from passthrough entities 1.8 (2.3) 1.9 (0.4) 0.6 (0.7) Branch earnings 2.2 (2.8) 1.4 (0.3) 0.2 (0.2) Global intangible low tax inclusion 3.4 (4.3) 3.5 (0.7) (1.6) 1.7 Foreign derived intangible income 2.4 (3.0) (0.3) 0.1 (0.1) 0.1 State income tax, net of federal benefit (2.5) 3.2 (0.6) 0.1 (3.1) 3.2 Adjustments to valuation allowances (4.7) 6.0 50.8 (10.6) (3.3) 3.4 Other tax credits (3.2) 4.1 (3.5) 0.7 (2.6) 2.7 Foreign tax credits (2.0) 2.5 (7.4) 1.5 1.8 (1.8) Other foreign operational taxes 0.7 (0.9) 1.8 (0.3) 1.5 (1.6) Remeasurement of deferred taxes due to tax law 1.1 (1.4) (0.3) 0.1 (3.0) 3.1 Non-deductible compensation expense 0.5 (0.6) 0.9 (0.2) 1.4 (1.4) Non-deductible acquisition expense — — (0.5) 0.1 5.4 (5.6) Goodwill impairment — — 84.5 (17.6) — — Uncertain tax positions (5.8) 7.4 (4.2) 0.9 1.1 (1.2) Worthless stock deduction (4.6) 5.8 — — — — Other, net 0.8 (1.1) (3.5) 0.7 (0.9) 1.0 Provision for income taxes $ (30.2) 38.3 % $ 26.8 (5.6) % $ (27.6) 28.6 %
Schedule of Deferred Tax Assets (Liabilities)	Net deferred income tax assets (liabilities) were comprised of the following (in millions): December 31, 2024 2023 Deferred Tax Assets Receivable allowances $ 1.4 $ 1.3 Postretirement and other employee benefits 7.5 10.9 Net operating loss and tax credit carryforwards 313.3 305.5 Capital loss carryforward 33.6 47.4 Accruals and other liabilities — 0.8 Investment in subsidiaries 1.8 0.1 Capitalized research & development 45.3 36.8 Section 163(j) interest limitation 15.6 9.9 Right of use liabilities 17.4 14.7 Other 15.6 15.0 451.5 442.4 Less: Valuation allowance (286.1) (323.0) Net deferred income tax assets $ 165.4 $ 119.4 Deferred Tax Liabilities Net property, plant and equipment $ (83.2) $ (89.2) Intangibles (132.3) (136.7) Derivatives (13.8) (9.0) Right of use assets (16.3) (15.1) Reserves and accruals (2.7) — Foreign currency translation (9.5) — Other (0.8) (5.3) Net deferred income tax liabilities $ (258.6) $ (255.3) Total net deferred income tax liabilities $ (93.2) $ (135.9)
Summary of Operating Loss Carryforwards	As of December 31, 2024, the Company had approximately $255.6 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions, with the following expiration dates: 2024 2026-2044 $ 174.4 Indefinite 81.2 Total $ 255.6
Schedule of Unrecognized Tax Benefits	The following table summarizes the activity related to the Company's unrecognized tax benefits related to income taxes (in millions): Years Ended December 31, 2024 2023 2022 Uncertain tax position balance at beginning of year $ 20.0 $ 19.9 $ 9.8 Increases in current year tax positions 5.4 0.6 0.1 Increases in prior year tax positions 5.2 4.4 1.4 Decreases due to lapse of statute of limitations (5.6) (2.4) (0.4) Decreases due to settlements (1.3) (2.1) — Increases (decreases) from business acquisitions — (0.4) 9.0 Uncertain tax position balance at end of year $ 23.7 $ 20.0 $ 19.9

Postretirement and Other Bene_2

Postretirement and Other Benefits (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Funded Status	The funded status of the pension plans as of December 31, 2024 and 2023 and the OPEB plans as of December 31, 2024 and 2023 was as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Change in PBO: PBO at beginning of year (1) $ 342.0 $ 339.6 $ 219.5 $ 189.9 $ 23.2 $ 25.0 $ 3.8 $ 3.6 Acquisition — — — 0.2 — — — — Service cost 1.4 1.6 1.2 1.0 0.1 0.2 1.2 1.2 Interest cost 16.9 17.7 8.7 8.4 1.1 1.2 0.1 0.1 Actuarial (gain) loss (10.5) 8.6 (14.3) 27.9 0.5 1.1 (0.1) 0.2 Participant contributions — — — — — 0.1 — — Plan amendment — — — 0.6 — — — — Plan settlements — — (33.9) (4.8) — — — — Gross benefits paid (26.0) (25.5) (13.8) (13.2) (4.4) (4.4) (1.7) (1.4) Currency translation effect — — (4.5) 9.5 — — (0.2) 0.1 PBO at end of year $ 323.8 $ 342.0 $ 162.9 $ 219.5 $ 20.5 $ 23.2 $ 3.1 $ 3.8 Change in Plan Assets: Fair value of plan assets at beginning of year $ 356.8 $ 349.2 $ 192.9 $ 174.6 $ — $ — $ — $ — Actual return on plan assets 11.0 32.6 (5.6) 20.4 — — — — Employer contributions 0.3 0.5 1.9 6.8 4.5 4.3 1.7 1.4 Participant contributions — — — — — 0.1 — — Plan settlements — — (33.9) (4.8) — — — — Gross benefits paid (26.0) (25.5) (13.8) (13.2) (4.5) (4.4) (1.7) (1.4) Currency translation effect — — (2.4) 9.1 — — — — Fair value of plan assets at end of year $ 342.1 $ 356.8 $ 139.1 $ 192.9 $ — $ — $ — $ — Funded status at end of year (1) $ 18.3 $ 14.8 $ (23.8) $ (26.6) $ (20.5) $ (23.2) $ (3.1) $ (3.8)
Schedule of Accumulated Benefit Obligations and PBO excess of Fair Value of Pension Plan Assets	The PBO, ABO and fair value of pension plan assets for the Company's defined benefit pension plans and OPEB plans as of December 31, 2024 and 2023 were as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 PBO $ 323.8 $ 342.0 $ 162.9 $ 219.5 $ 20.5 $ 23.2 $ 3.1 $ 3.8 ABO 321.5 340.1 162.2 218.6 — — — — Fair value of plan assets 342.1 356.8 139.1 192.9 — — — —
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss, Net Of Tax	As of December 31, 2024 and 2023, the pre-tax amounts in Accumulated other comprehensive income, net of tax that have not been recognized as components of net periodic benefit cost for the pension and OPEB plans are as follows (in millions): Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Accumulated loss (gain) $ 16.3 $ 15.4 $ 8.4 $ 8.9 $ 0.4 $ 0.2 $ — $ — Prior service credit — — 0.5 0.5 — — — — Accumulated other comprehensive loss (gain) $ 16.3 $ 15.4 $ 8.9 $ 9.4 $ 0.4 $ 0.2 $ — $ —
Schedule of Assumptions Used	The weighted average assumptions used to determine benefit obligations as of December 31, 2024 and 2023 were as follows: Pension Benefits Other Postretirement Benefits U.S. Non-U.S. U.S. Non-U.S. 2024 2023 2024 2023 2024 2023 2024 2023 Discount rate 5.63 % 5.14 % 4.98 % 4.19 % 5.26 % 5.00 % 3.43 % 4.18 % Rate of compensation increase 1.93 % 1.90 % 2.72 % 0.45 % N/A 3.50 % 2.75 % 2.72 % Pension Benefits U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Discount rate 5.14 % 5.42 % 4.09 % 4.32 % 4.53 % 3.71 % Expected long-term rate of return on plan assets 6.27 % 6.10 % 5.19 % 3.18 % 2.48 % 1.96 % Rate of compensation increase 1.90 % 1.90 % 1.90 % 2.72 % 0.45 % 2.77 % Other Postretirement Benefits (1) U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Discount rate 5.00 % 5.32 % 4.42 % 4.15 % 3.96 % 1.61 % Expected long-term rate of return on plan assets — % — % — % — % — % — % Rate of compensation increase 3.50 % 3.50 % 3.50 % 2.75 % 1.65 % 2.35 %
Schedule of Net Pension Benefit Costs	The components of net pension benefit cost (benefit) during the years ended December 31, 2024, 2023, and 2022 were as follows (in millions): Pension Benefits U.S. Non-U.S. 2024 2023 2022 2024 2023 2022 Service cost $ 1.4 $ 1.6 $ 0.9 $ 1.2 $ 1.0 $ 0.7 Interest cost 16.9 17.7 9.3 8.7 8.4 4.4 Expected return on plan assets (22.4) (22.1) (11.9) (6.0) (4.3) (4.3) Amortizations and other — — 1.7 (2.4) 0.4 0.4 Net periodic benefit cost (benefit) $ (4.1) $ (2.8) $ — $ 1.5 $ 5.5 $ 1.2 Other Postretirement Benefits (1) US Non-US 2024 2023 2022 2024 2023 2022 Service cost $ 0.1 $ 0.2 $ 0.1 $ 1.2 $ 1.2 $ 0.4 Interest cost 1.1 1.2 0.6 0.1 0.1 — Expected return on plan assets — — — — — — Amortizations and other — — — — 0.1 0.2 Net periodic benefit cost (benefit) $ 1.2 $ 1.4 $ 0.7 $ 1.3 $ 1.4 $ 0.6
Schedule of Fair Value of Plan Assets	The pension plans' asset allocations by category at December 31, 2024 and 2023 were as follows: U.S. Non-U.S. 2024 2023 2024 2023 Plan Asset Category Cash and cash equivalents 1% 1% 1% 4% Equity securities (1) : Domestic large cap 8 9 — — Domestic small cap 1 3 — — International 6 16 — — Fixed income securities 84 71 99 96 Total 100% 100% 100% 100% (1) None of the Company's pension plan assets are targeted for investment in Mativ stock, except that it is possible that one or more mutual funds held by the plan could hold shares of Mativ. The following table sets forth by level, within the fair value hierarchy, the pension plans' assets at fair value as of December 31, 2024 (in millions): U.S. Non-U.S. Plan Asset Category Total Other (1) Level 1 Total Level 1 Level 2 Cash equivalents $ 3.2 $ — $ 3.2 $ 1.0 $ 1.0 $ — Equity securities: Domestic large cap 26.5 26.5 — — — — Domestic small cap 4.2 4.2 — — — — International 19.2 19.2 — — — — Fixed income securities: US Government securities 109.1 109.1 — — — — Corporate bonds 162.7 162.7 — 68.4 — 68.4 International bonds 17.2 17.2 — 68.8 — 68.8 Other — — — 0.9 — 0.9 Total $ 342.1 $ 338.9 $ 3.2 $ 139.1 $ 1.0 $ 138.1 The following table sets forth by level, within the fair value hierarchy, the pension plans' assets at fair value as of December 31, 2023 (in millions): U.S. Non-U.S. Plan Asset Category Total Other (1) Level 1 Total Level 1 Level 2 Cash equivalents $ 2.7 $ — $ 2.7 $ 5.6 $ 5.6 $ — Equity securities: Domestic large cap 33.8 33.8 — — — — Domestic small cap 10.3 10.3 — — — — International 56.0 56.0 — — — — Fixed income securities: US Government securities 68.1 68.1 — — — — Corporate bonds 149.7 149.7 — 87.3 — 87.3 International bonds 3.8 3.8 — 64.0 — 64.0 Other 32.4 32.4 — 1.1 — 1.1 Total $ 356.8 $ 354.1 $ 2.7 $ 158.0 $ 5.6 $ 152.4
Schedule of Estimated Undiscounted Future Pension Benefit Payments	The Company expects the following estimated undiscounted future pension benefit payments, which are to be made from pension plan and employer assets, net of amounts that will be funded from retiree contributions, and which reflect expected future service, as appropriate (in millions): U.S. Non-U.S. 2025 $ 26.9 $ 12.8 2026 $ 26.8 $ 13.3 2027 $ 26.9 $ 14.5 2028 $ 26.5 $ 13.8 2029 $ 26.3 $ 14.8 2030-2033 $ 126.3 $ 79.7

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Restricted Stock Activity	The following table presents RSA activity for the years ended December 31, 2023 and 2022: 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 526,961 $ 31.89 377,729 $ 36.78 Granted — — 678,343 31.17 Forfeited (97,629) 33.46 (49,617) 30.57 Vested (292,519) 32.98 (479,494) 34.81 Converted to RSUs (136,813) 28.43 — — Outstanding at December 31 — $ — 526,961 $ 31.89 Restricted Stock Units The following table presents activity of RSUs for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 562,070 $ 24.68 343,142 $ 23.41 — $ — Granted 513,962 17.87 277,479 25.33 — — Acquired and converted — — — — 472,181 23.41 Converted from RSAs — — 136,813 28.43 — — Forfeited (81,099) 22.41 (69,627) 26.08 (5,172) 23.41 Vested (276,418) 24.50 (125,737) 25.95 (123,867) 23.41 Outstanding at December 31 718,515 $ 20.13 562,070 $ 24.68 343,142 $ 23.41 Performance Stock Units The following table presents activity of PSUs for the years ended December 31, 2024, 2023 and 2022: 2024 2023 2022 # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant # of Shares Weighted Average Fair Value at Date of Grant Outstanding at January 1 273,225 $ 24.47 320,732 $ 23.57 — $ — Granted 291,395 16.44 105,867 26.74 320,732 23.57 Forfeited (82,340) 21.43 (151,186) 24.12 — — Vested (59,831) 20.71 (2,188) 26.74 — — Outstanding at December 31 422,449 $ 20.06 273,225 $ 24.47 320,732 $ 23.57
Schedule of Reconciliation of the Common and Potential Common Shares Outstanding Used in Earnings Per Share Calculation	A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income per share follows (in millions, shares in thousands): Years Ended December 31, 2024 2023 2022 Numerator (basic and diluted): Net loss $ (48.7) $ (309.5) $ (6.6) Less: Dividends paid to participating securities (0.2) (0.7) (0.9) Undistributed and distributed loss available to common stockholders $ (48.9) $ (310.2) $ (7.5) Denominator: Average number of common shares outstanding 54,313.3 54,506.9 42,442.2 Effect of dilutive stock-based compensation (1) — — — Average number of common and potential common shares outstanding 54,313.3 54,506.9 42,442.2 (1) Diluted loss per share excludes the weighted average potential common shares as their inclusion would be anti-dilutive.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Net Sales and Operating Profit	Net sales, costs of products sold, nonmanufacturing expense, restructuring and impairment expense, and operating profit (loss) by segments were (in millions): Years Ended December 31, 2024 2023 2022 Net sales FAM $ 766.5 $ 810.0 $ 776.6 SAS 1,214.6 1,216.0 860.3 Consolidated $ 1,981.1 $ 2,026.0 $ 1,636.9 Cost of products sold FAM $ 592.3 $ 613.3 $ 582.8 SAS 1,024.7 1,056.9 748.1 Consolidated $ 1,617.0 $ 1,670.2 $ 1,330.9 Years Ended December 31, 2024 2023 2022 Total nonmanufacturing expense FAM $ 98.6 $ 94.6 $ 88.1 SAS 115.5 115.1 86.5 Total segments 214.1 209.7 174.6 Unallocated 105.6 136.4 152.5 Consolidated $ 319.7 $ 346.1 $ 327.1 Restructuring and impairment FAM $ 5.6 $ 2.8 $ 14.8 SAS 29.1 420.3 1.7 Total segments 34.7 423.1 16.5 Unallocated 3.4 0.5 2.6 Consolidated $ 38.1 $ 423.6 $ 19.1 Operating profit (loss) FAM $ 70.0 $ 99.3 $ 90.9 SAS 45.4 (376.3) 24.0 Total segments 115.4 (277.0) 114.9 Unallocated (109.1) (136.9) (155.1) Consolidated $ 6.3 $ (413.9) $ (40.2) Capital spending and depreciation by segments were (in millions): Capital Spending Depreciation Years Ended December 31, Years Ended December 31, 2024 2023 2022 2024 2023 2022 FAM $ 24.0 $ 29.7 $ 24.5 $ 24.9 $ 25.3 $ 18.9 SAS 30.0 33.1 20.5 51.4 54.3 32.6 Total segments 54.0 62.8 45.0 76.3 79.6 51.5 Unallocated 1.0 3.2 0.6 1.4 2.1 0.4 Consolidated $ 55.0 $ 66.0 $ 45.6 $ 77.7 $ 81.7 $ 51.9
Schedule of Long-Lived Assets by Geographic Area	Long-lived assets by geographic area were as follows (in millions): December 31, 2024 2023 U.S. $ 340.5 $ 369.8 France 28.1 32.2 Germany 161.4 174.7 U.K. 56.1 56.6 Other foreign countries 58.0 65.8 Consolidated $ 644.1 $ 699.1

General (Details)

General (Details) - segment	3 Months Ended
	Mar. 31, 2024	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total revenues					$ 1,981.1	$ 2,026	$ 1,636.9
Foreign currency transaction losses					(1.2)	4.8	(7.5)
Restricted cash	$ 0.6	$ 0.6		$ 0.6	0.6	0.6	0.6
Acquisition costs					0	0	45.5
Goodwill impairment expense	0	0		$ 0	$ 0	401	0
Software useful life					7 years
Amortization of capitalized software					$ 3.2	5	4.4
Accumulated amortization of capitalized software costs	$ 33.5	$ 30.9			33.5	30.9
Foreign currency translation adjustments (losses)					133.8
Deferred gain released from AOCL					$ 8.9
Restricted Stock Plan
Schedule of Equity Method Investments [Line Items]
Plan performance period (years)					3 years
ATM
Schedule of Equity Method Investments [Line Items]
Goodwill impairment expense			$ 401		$ 401
Minimum | Restricted Stock
Schedule of Equity Method Investments [Line Items]
Share based compensation vesting period (years)					1 year
Minimum | Customer relationships
Schedule of Equity Method Investments [Line Items]
Estimated useful life	12 years				12 years
Minimum | Acquired and developed technology
Schedule of Equity Method Investments [Line Items]
Estimated useful life	4 years				4 years
Maximum | Restricted Stock
Schedule of Equity Method Investments [Line Items]
Share based compensation vesting period (years)					3 years
Maximum | Customer relationships
Schedule of Equity Method Investments [Line Items]
Estimated useful life	23 years				23 years
Maximum | Acquired and developed technology
Schedule of Equity Method Investments [Line Items]
Estimated useful life	23 years				23 years
Other Operating Income (Expense)
Schedule of Equity Method Investments [Line Items]
Foreign currency transaction losses					$ 3	1.7	1.8
Royalty
Schedule of Equity Method Investments [Line Items]
Total revenues					$ 0	$ 4.4	$ 6.9

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, net of tax	$ 858.5	$ 949.1	$ 1,179.3	$ 682.2
Accumulated other comprehensive income, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, net of tax	13.1	39.1	$ (95.4)	$ (119)
Accumulated pension and OPEB liability adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, income tax expense (benefit)	4.7	4.3
Accumulated other comprehensive income, net of tax	(20.7)	(20.3)
Accumulated unrealized gain on derivative instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, income tax expense (benefit)	10.2	(12.8)
Accumulated other comprehensive income, net of tax	19.9	27.9
Accumulated unrealized foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, income tax expense (benefit)	14.6	14.6
Accumulated other comprehensive income, net of tax	$ 13.9	$ 31.5

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Changes in the Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	$ (29)	$ 135	$ 37.5
Tax	3	(0.5)	(13.9)
Other comprehensive income (loss)	(26)	134.5	23.6
Pension and OPEB liability adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	(0.8)	(11.2)	9.9
Tax	0.4	1.8	(6.4)
Other comprehensive income (loss)	(0.4)	(9.4)	3.5
Derivative instrument adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	(10.6)	(16.6)	61.3
Tax	2.6	0.1	(15)
Other comprehensive income (loss)	(8)	(16.5)	46.3
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	(17.6)	35.4	(33.7)
Tax	0	0.1	7.5
Other comprehensive income (loss)	(17.6)	35.5	(26.2)
Reclassification of foreign currency translation to income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	0	127.4	0
Tax	0	(2.5)	0
Other comprehensive income (loss)	$ 0	$ 124.9	$ 0

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Net sales	$ 1,981.1	$ 2,026	$ 1,636.9
FAM
Revenue from External Customer [Line Items]
Net sales	766.5	810	776.8
SAS
Revenue from External Customer [Line Items]
Net sales	1,214.6	1,216	860.1
United States
Revenue from External Customer [Line Items]
Net sales	1,097.5	1,100.9	948.4
United States | FAM
Revenue from External Customer [Line Items]
Net sales	414.3	456.9	536.6
United States | SAS
Revenue from External Customer [Line Items]
Net sales	683.2	644	411.8
Europe
Revenue from External Customer [Line Items]
Net sales	518	546.4	381.2
Europe | FAM
Revenue from External Customer [Line Items]
Net sales	194.1	196.3	107.3
Europe | SAS
Revenue from External Customer [Line Items]
Net sales	323.9	350.1	273.9
Asia/Pacific
Revenue from External Customer [Line Items]
Net sales	210	206.7	171
Asia/Pacific | FAM
Revenue from External Customer [Line Items]
Net sales	119.1	119.4	100.7
Asia/Pacific | SAS
Revenue from External Customer [Line Items]
Net sales	90.9	87.3	70.3
Americas (excluding U.S.)
Revenue from External Customer [Line Items]
Net sales	106.5	125.5	98.7
Americas (excluding U.S.) | FAM
Revenue from External Customer [Line Items]
Net sales	23	23.2	20.7
Americas (excluding U.S.) | SAS
Revenue from External Customer [Line Items]
Net sales	83.5	102.3	78
Other foreign countries
Revenue from External Customer [Line Items]
Net sales	49.1	46.5	37.6
Other foreign countries | FAM
Revenue from External Customer [Line Items]
Net sales	16	14.2	11.5
Other foreign countries | SAS
Revenue from External Customer [Line Items]
Net sales	$ 33.1	$ 32.3	$ 26.1

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Disaggregated of Percentage (Details) - Net sales - End market	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Product Information [Line Items]
Net sales	100%	100%
Filtration & netting
Product Information [Line Items]
Net sales	25%	25%
Advanced films
Product Information [Line Items]
Net sales	14%	15%
Tapes, labels & liners
Product Information [Line Items]
Net sales	31%	30%
Paper & packaging
Product Information [Line Items]
Net sales	16%	16%
Healthcare & other
Product Information [Line Items]
Net sales	14%	14%

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 lease_renewal
Leases [Abstract]
Number of finance renewals (or more)	1
Number of operating renewals (or more)	1

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finance lease cost (cost resulting from lease payments):
Interest expense on lease liabilities	$ 1.6	$ 1.4
Amortization of right-of-use assets	1.8	1.4
Operating lease cost	13.4	11.3
Short-term lease expense	1.7	1.7
Sublease income	(0.1)	(0.1)
Total lease cost	$ 18.4	$ 15.7

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Finance
2025	$ 2.9
2026	2.9
2027	2.3
2028	1.8
2029	1.8
Thereafter	17.5
Total lease payments	29.2
Less: Interest	11.3
Present value of lease liabilities	17.9
Operating
2025	12
2026	9.1
2027	7.5
2028	6.1
2029	5.4
Thereafter	17
Total lease payments	57.1
Less: Interest	11.2
Present value of lease liabilities	45.9
Total
2025	14.9
2026	12
2027	9.8
2028	7.9
2029	7.2
Thereafter	34.5
Total lease payments	86.3
Less: Interest	22.5
Present value of lease liabilities	$ 63.8

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted-average remaining lease term:
Operating leases	6 years 8 months 12 days	8 years 4 months 24 days
Finance leases	13 years 3 months 18 days	14 years 1 month 6 days
Weighted-average discount rate:
Operating leases	6.65%	6.31%
Finance leases	7.74%	7.49%

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 14.4	$ 14.3
Operating cash flows from finance leases	1.5	1.4
Leased assets obtained in exchange for new finance lease liabilities	0.5	2
Leased assets obtained in exchange for new operating lease liabilities	$ 11.3	$ 25.1

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - Neenah, Inc. shares in Millions, $ in Millions			15 Months Ended
	Jul. 05, 2022 USD ($)	Mar. 28, 2022 shares	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Share exchange ratio (in shares)		1.358
Common stock issued (in shares) | shares		22.8
Value of shares issued	$ 534.1
Consideration transferred	1,056.3
Repayment of debt	504.9
Transactions costs	13.5
Pre-acquisition period	$ 3.8
Deferred income tax liabilities			$ 19
Intangible assets, net			17.9
Property, plant and equipment, net			9.6
Inventories, net			2.7
Goodwill			12
Accounts payable and other current liabilities			9.1
Accounts receivable, net			$ 8.5

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	15 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 06, 2022
Business Acquisition [Line Items]
Goodwill		$ 465.6	$ 474.1	$ 844.2
Neenah, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	$ 55.9				$ 55.9
Accounts receivable, net	198.1				206.6
Inventories, net	194.5				191.8
Other current assets	27.8				27.5
Property, plant and equipment, net	463.2				453.6
Intangible assets, net	236.9				219
Other assets	42.1				41.8
Total assets	1,218.5				1,196.2
Current debt	1.9				1.9
Accounts payable and other current liabilities	198.8				207.9
Long-term debt	22.8				22.8
Deferred income tax liabilities	86.7				67.7
Other liabilities	82.4				82
Net assets acquired	825.9				813.9
Goodwill	230.4				242.4
Total consideration	1,056.3				$ 1,056.3
Adjustments
Cash and cash equivalents	0
Accounts receivable, net	(8.5)
Inventories, net	2.7
Other current assets	0.3
Property, plant and equipment, net	9.6
Intangible assets, net	17.9
Other assets	0.3
Total assets	22.3
Current debt	0
Accounts payable and other current liabilities	(9.1)
Long-term debt	0
Deferred income tax liabilities	19
Other liabilities	0.4
Net assets acquired	12
Goodwill	(12)
Total consideration	$ 0

Business Acquisitions -Schedule

Business Acquisitions -Schedule of Intangible Assets (Details) - Neenah, Inc. $ in Millions	Jul. 06, 2022 USD ($)
Business Acquisition [Line Items]
Total amortizable intangible assets	$ 236.9
Customer relationships
Business Acquisition [Line Items]
Total amortizable intangible assets	$ 202.3
Weighted-Average Amortization Period (Years)	14 years 3 months 18 days
Trade names
Business Acquisition [Line Items]
Total amortizable intangible assets	$ 14.4
Weighted-Average Amortization Period (Years)	20 years
Developed technology
Business Acquisition [Line Items]
Total amortizable intangible assets	$ 20.2
Weighted-Average Amortization Period (Years)	7 years

Business Acquisitions - Sched_2

Business Acquisitions - Schedule of Sales and Income from Business Combination (Details) - Neenah, Inc. $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales	$ 2,238
Net loss	$ (13.6)

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable [Line Items]
Less allowance for credit losses	$ (3.3)	$ (3.2)
Total accounts receivable, net	162.4	176.5
Trade receivables
Accounts Receivable [Line Items]
Accounts receivable, gross	132.2	147.2
Business tax credits, including VAT
Accounts Receivable [Line Items]
Accounts receivable, gross	10	10.2
Hedge contracts receivable
Accounts Receivable [Line Items]
Accounts receivable, gross	7.4	2.6
Other receivables
Accounts Receivable [Line Items]
Accounts receivable, gross	$ 16.1	$ 19.7

Accounts Receivable, Net - Sc_2

Accounts Receivable, Net - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Doubtful Accounts [Roll Forward]
Beginning balance	$ 3.2	$ 2	$ 0.8
Bad debt expense	0.8	1	1.6
Recoveries	(0.5)	0	(0.1)
Write-offs and discounts	(0.3)	0.2	(0.3)
Currency translation	0.1	0	0
Ending balance	$ 3.3	$ 3.2	$ 2

Accounts Receivable, Net - Narr

Accounts Receivable, Net - Narrative (Details) - USD ($)		12 Months Ended
	Dec. 23, 2022	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable [Line Items]
Principal amount outstanding of receivables sold	$ 175,000,000
Term of receivables sales agreement	3 years
Cash proceeds from financial institutions	$ 126,000,000	$ 1,036,300,000	$ 1,094,800,000
Accounts receivable, net		162,400,000	176,500,000
Total fees		9,600,000	4,500,000
Asset Pledged as Collateral without Right | Nonrecourse
Accounts Receivable [Line Items]
Accounts receivable, net		$ 28,700,000	$ 27,900,000

Accounts Receivable, Net - Sc_3

Accounts Receivable, Net - Schedule of Receivables Sales Agreement and Reverse Receivables Program (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 23, 2022	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Trade accounts receivable sold to financial institutions		$ 1,037.2	$ 1,096.1
Cash proceeds from financial institutions	$ 126	$ 1,036.3	$ 1,094.8

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 125.8	$ 129.9
Work in process	53.5	50.4
Finished goods	160.7	160
Supplies and other	15.1	12.6
Total inventories	$ 355.1	$ 352.9

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 892.4	$ 878.5
Less: Accumulated depreciation	272.1	206
Property, plant and equipment, net	620.3	672.5
Depreciation expense	77.7	81.7	$ 51.9
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	68.2	78.3
Buildings and improvements (20 to 40 years or remaining life of relevant lease)
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 192.6	191.6
Buildings and improvements (20 to 40 years or remaining life of relevant lease) | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Buildings and improvements (20 to 40 years or remaining life of relevant lease) | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Machinery and equipment (5 to 20 years)
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 597.8	558.6
Machinery and equipment (5 to 20 years) | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Machinery and equipment (5 to 20 years) | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 33.8	$ 50

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($)		12 Months Ended
	Nov. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Aug. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax		$ 0	$ 198,200,000	$ 62,300,000
Engineered Papers Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds					$ 620,000,000
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax			$ 198,200,000	$ 62,300,000
Discontinued Operations, Disposed of by Sale | Engineered Papers Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale	$ 176,300,000
Income from discontinued operations, net of tax	$ 170,000,000
Impairment expense		$ 0

Discontinued Operations - Sched

Discontinued Operations - Schedule of Disposal Groups, Including Discontinued Operations, Income Statement (Details) - USD ($) $ in Millions		12 Months Ended
	Nov. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax		$ 0	$ 198.2	$ 62.3
Repayments of debt	$ 641.2
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales			490.9	530.5
Cost of products sold			373.4	398.9
Gross profit			117.5	131.6
Selling and general expense			29.4	32
Research and development expense			8.6	7.8
Intangible asset amortization expense			0	0
Total nonmanufacturing expenses			38	39.8
Restructuring and other impairment expense			0.5	0.2
Operating profit			79	91.6
Interest expense			49	28.8
Other income, net			194.8	9.3
Income from discontinued operations before income taxes			224.8	72.1
Income tax expense			29.1	15
Income from equity affiliates, net of income taxes			2.5	5.2
Income from discontinued operations, net of tax			$ 198.2	$ 62.3

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill impairment expense	$ 0	$ 0		$ 0	$ 0	$ 401	$ 0
ATM
Goodwill [Line Items]
Goodwill impairment expense			$ 401		401
FAM
Goodwill [Line Items]
Goodwill impairment expense						0
Accumulated impairment losses	0	0			0	0
SAS
Goodwill [Line Items]
Goodwill impairment expense						401
Accumulated impairment losses	$ 401	$ 401			$ 401	$ 401

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill beginning balance				$ 474.1	$ 844.2
Goodwill acquired					16
Goodwill impairment	$ 0	$ 0	$ 0	0	(401)	$ 0
Foreign currency translation and other				(8.5)	14.9
Goodwill ending balance	465.6	474.1	844.2	465.6	474.1	844.2
FAM
Goodwill [Roll Forward]
Goodwill beginning balance				417.9	408.2
Goodwill acquired					4.1
Goodwill impairment					0
Foreign currency translation and other				(6)	5.6
Goodwill ending balance	411.9	417.9	408.2	411.9	417.9	408.2
SAS
Goodwill [Roll Forward]
Goodwill beginning balance				56.2	436
Goodwill acquired					11.9
Goodwill impairment					(401)
Foreign currency translation and other				(2.5)	9.3
Goodwill ending balance	$ 53.7	$ 56.2	$ 436	$ 53.7	$ 56.2	$ 436

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Amortized and Unamortized Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 868.9	$ 873.9
Accumulated Amortization	315.5	258.1
Net Carrying Amount	553.4	615.8
Trade names
Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		15.5
Net Carrying Amount		15.5
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	726.6	743.8
Accumulated Amortization	254.3	209.4
Net Carrying Amount	472.3	534.4
Acquired and developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	90.3	92.6
Accumulated Amortization	47.9	38.6
Net Carrying Amount	42.4	54
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	47.2	32.7
Accumulated Amortization	9.4	6.4
Net Carrying Amount	37.8	26.3
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2.9	2.9
Accumulated Amortization	2.9	2.8
Net Carrying Amount	0	0.1
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1.9	1.9
Accumulated Amortization	1	0.9
Net Carrying Amount	$ 0.9	$ 1

Intangible Assets, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 62.9	$ 61	$ 53.4

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Estimated Aggregate Amortization Expense for the Next Five Years (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 62.4
2026	61.8
2027	61.7
2028	58.3
2029	$ 55.6

Restructuring and Other Impai_3

Restructuring and Other Impairment Activities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and other impairment expense	$ 38.1	$ 22.6	$ 19.1
Other Current Assets
Restructuring Cost and Reserve [Line Items]
Asset, held-for-sale, other assets	10.3	14.2
Other assets
Restructuring Cost and Reserve [Line Items]
Asset, held-for-sale, other assets		2.2
Unallocated
Restructuring Cost and Reserve [Line Items]
Other impairment expense	0	0.3	0.8
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other impairment expense	16.4
Severance | Unallocated
Restructuring Cost and Reserve [Line Items]
Restructuring and other impairment expense	3.3
FAM
Restructuring Cost and Reserve [Line Items]
Other impairment expense	0	0	13
FAM | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other impairment expense	3.1
FAM | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring incurred to date	5.7
SAS
Restructuring Cost and Reserve [Line Items]
Other impairment expense	16.2	$ 18.3	$ 0.2
SAS | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other impairment expense	$ 10

Restructuring and Other Impai_4

Restructuring and Other Impairment Activities - Schedule of Total Restructuring, Restructuring Related, and Impairment Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 21.9	$ 4	$ 5.1
Total restructuring and other impairment expense	$ 38.1	$ 22.6	$ 19.1
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring, Settlement And Other Impairment Provisions	Restructuring, Settlement And Other Impairment Provisions	Restructuring, Settlement And Other Impairment Provisions
Unallocated
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3.4	$ 0.1	$ 0.8
Other impairment expense	0	0.3	0.8
FAM
Restructuring Cost and Reserve [Line Items]
Other impairment expense	0	0	13
FAM | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5.6	2.8	1.7
SAS
Restructuring Cost and Reserve [Line Items]
Other impairment expense	16.2	18.3	0.2
SAS | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	12.9	1.1	2.6
Severance and termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other impairment expense	16.4
Severance and termination benefits | Unallocated
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.4	0	0
Total restructuring and other impairment expense	3.3
Severance and termination benefits | FAM
Restructuring Cost and Reserve [Line Items]
Total restructuring and other impairment expense	3.1
Severance and termination benefits | FAM | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.8	0.1	0.5
Severance and termination benefits | SAS
Restructuring Cost and Reserve [Line Items]
Total restructuring and other impairment expense	10
Severance and termination benefits | SAS | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10.6	0	1.3
Other exit costs | Unallocated
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0.1	0.8
Other exit costs | FAM | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1.8	2.7	1.2
Other exit costs | SAS | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2.3	$ 1.1	$ 1.3

Restructuring and Other Impai_5

Restructuring and Other Impairment Activities - Schedule of Restructuring Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restructuring Reserve [Roll Forward]
Balance at beginning of year	$ 3.8	$ 4
Charges for restructuring programs	21.9	0.3
Cash payments and other	(23.5)	(0.5)
Balance at end of period	$ 2.2	$ 3.8

Debt - Schedule of Debt Summari

Debt - Schedule of Debt Summarized (Details) - USD ($) $ in Millions	Dec. 31, 2024	Oct. 07, 2024	Dec. 31, 2023	Sep. 25, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ (23.5)		$ (24.3)
Total debt	1,089.3		1,104.6
Less: Current debt	(2.6)		(2.8)
Long-term debt	1,086.7		1,101.8
6.875% Senior unsecured notes due October 1, 2026
Debt Instrument [Line Items]
Interest rate (percent)				6.875%
8.000% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Interest rate (percent)		8%
Revolving facility - U.S. dollar borrowings | Revolving facility - U.S. dollar borrowings | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	237		260
Term Loan | Term loan A facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	83.3		84.3
Term Loan | Term loan B facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	116.5		160.5
Term Loan | Delayed draw term loan | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 270.1		273.2
Unsecured notes
Debt Instrument [Line Items]
Decrease in fair value			4.9
Unsecured notes | 6.875% Senior unsecured notes due October 1, 2026
Debt Instrument [Line Items]
Interest rate (percent)	6.875%
Discount			3.2
Long-term debt, gross	$ 0		341.9
Unsecured notes | 8.000% Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Interest rate (percent)	8%
Long-term debt, gross	$ 400		0
German loan agreement | German loan agreement
Debt Instrument [Line Items]
Long-term debt, gross	$ 5.9		$ 9

Debt - Narrative (Details)

Debt - Narrative (Details)

1 Months Ended

12 Months Ended

Oct. 07, 2024 USD ($)

Jul. 01, 2023

Jul. 05, 2022

Feb. 10, 2021 USD ($)

Sep. 25, 2018 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

May 30, 2022 USD ($)

May 06, 2022 USD ($)

Debt Instrument [Line Items]

Capitalized deferred debt issuance costs

$ 8,300,000

$ 8,300,000

Debt issuance costs and discounts

23,500,000

$ 24,300,000

23,500,000

$ 24,300,000

Amortization of deferred issuance costs

7,800,000

7,600,000

$ 6,400,000

Interest Expense

Debt Instrument [Line Items]

Amortization of deferred issuance costs

7,000,000

6,500,000

$ 5,500,000

Unsecured notes

Debt Instrument [Line Items]

Fair market value of notes

$ 383,500,000

335,600,000

$ 383,500,000

$ 335,600,000

Line of Credit | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Credit facility term

1 month

Basis spread on variable rate (percent)

1%

Line of Credit | Revolving facility - U.S. dollar borrowings | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1%

Line of Credit | Revolving facility - U.S. dollar borrowings | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

2.75%

Line of Credit | Revolving facility - U.S. dollar borrowings | Fed Funds Effective Rate Overnight Index Swap Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.50%

Line of Credit | Revolving facility - U.S. dollar borrowings | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0%

Line of Credit | Revolving facility - U.S. dollar borrowings | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1.75%

Credit Agreement

Debt Instrument [Line Items]

Effective interest rate on debt facilities (percent)

6.41%

5.98%

Credit Agreement | Line of Credit

Debt Instrument [Line Items]

Maximum borrowings under credit facility

$ 700,000,000

EBITDA ratio

5

5

Interest coverage ratio, maximum

2.50

2.50

Maximum net debt to EBITDA ratio

5.50

Credit Agreement | Line of Credit | Triggering Event One

Debt Instrument [Line Items]

Interest coverage ratio, maximum

2.75

2.75

Maximum net debt to EBITDA ratio

5.25

Credit Agreement | Line of Credit | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Maximum borrowings under credit facility

$ 500,000,000

$ 504,000,000

$ 504,000,000

$ 600,000,000

Credit facility term

5 years

Basis spread on variable rate (percent)

2.75%

Credit Agreement | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Maximum borrowings under credit facility

$ 400,000,000

Term loan A facility | Term Loan

Debt Instrument [Line Items]

Average interest rate (percent)

7.21%

7.21%

Term loan A facility | Line of Credit | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Line of credit facility, commitment fee percent

0.45%

Term loan A facility | Line of Credit | Revolving facility - U.S. dollar borrowings | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

3%

Term loan A facility | Line of Credit | Revolving facility - U.S. dollar borrowings | ABR Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

2%

Term loan A facility | Line of Credit | Term Loan

Debt Instrument [Line Items]

Credit facility term

7 years

Face amount

$ 200,000,000

Term loan A facility | Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1%

Term loan A facility | Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) | Expected | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1.25%

Term loan A facility | Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) | Expected | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

3%

Term loan A facility | Line of Credit | Term Loan | Fed Funds Effective Rate Overnight Index Swap Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.50%

Term loan A facility | Line of Credit | Term Loan | Base Rate | Expected | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.25%

Term loan A facility | Line of Credit | Term Loan | Base Rate | Expected | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

2%

Term loan B facility

Debt Instrument [Line Items]

Repayments of lines of credit

$ 43,000,000

Term loan B facility | Term Loan

Debt Instrument [Line Items]

Average interest rate (percent)

8.22%

8.22%

Term loan B facility | Line of Credit | Term Loan

Debt Instrument [Line Items]

Credit facility term

7 years

Face amount

$ 350,000,000

Incremental loans

$ 250,000,000

Term loan B facility | Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) Floor

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.75%

Term loan B facility | Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

2.75%

Term loan B facility | Line of Credit | Term Loan | Euro Interbank Offered Rate (EURIBOR) Floor

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0%

Term loan B facility | Line of Credit | Term Loan | Euro Interbank Offered Rate (EURIBOR)

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

3.75%

Delayed draw term loan | Term Loan

Debt Instrument [Line Items]

Average interest rate (percent)

6.96%

6.96%

Delayed draw term loan | Line of Credit | Revolving facility - U.S. dollar borrowings | ABR Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1.75%

Delayed draw term loan | Line of Credit | Term Loan

Debt Instrument [Line Items]

Maximum borrowings under credit facility

$ 650,000,000

Revolving facility - U.S. dollar borrowings | Line of Credit | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Repayments of long-term lines of credit

$ 641,200,000

6.875% Senior unsecured notes due October 1, 2026

Debt Instrument [Line Items]

Face amount

$ 350,000,000

Interest rate (percent)

6.875%

6.875% Senior unsecured notes due October 1, 2026 | Unsecured notes

Debt Instrument [Line Items]

Interest rate (percent)

6.875%

6.875%

8.000% Senior Unsecured Notes Due 2029

Debt Instrument [Line Items]

Face amount

$ 400,000,000

Interest rate (percent)

8%

8.000% Senior Unsecured Notes Due 2029 | Unsecured notes

Debt Instrument [Line Items]

Interest rate (percent)

8%

8%

Interest rate at period end (percent)

8%

8%

Revolving credit agreement | Revolving facility - U.S. dollar borrowings

Debt Instrument [Line Items]

Average interest rate (percent)

7.05%

7.05%

German loan agreement

Debt Instrument [Line Items]

Average interest rate (percent)

1.75%

German loan agreement | German loan agreement

Debt Instrument [Line Items]

Face amount

$ 10,700,000

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt Maturities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	$ 2.6
2026	2.6
2027	591.1
2028	116.5
2029	400
Thereafter	0
Total	$ 1,112.8

Debt - Schedule of Debt Issuanc

Debt - Schedule of Debt Issuance Costs (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 7.9
2026	7.9
2027	4.7
2028	1.9
2029	1.1
Thereafter	0
Total	$ 23.5	$ 24.3

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 USD ($)	Oct. 07, 2024	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Senior Notes Due 2026
Derivative [Line Items]
Interest rate (percent)				6.875%
Cross-currency swap | Derivatives designated as hedges
Derivative [Line Items]
Derivative, notional amount | €		€ 450			€ 450
Interest Rate Swap
Derivative [Line Items]
Deferred gains	$ 8.8
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount			$ 589.2			$ 720

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivatives by Balance Sheet Location (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 21.8	$ 13.5
Liability Derivatives	2.9	24.8
Derivatives designated as hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives		11.8
Liability Derivatives		23.3
Derivatives designated as hedges | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	21
Liability Derivatives	2.9
Derivatives designated as hedges | Foreign exchange contracts | Accounts receivable, net | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	6.5	0.9
Derivatives designated as hedges | Foreign exchange contracts | Other assets | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	4.4	0
Derivatives designated as hedges | Foreign exchange contracts | Accrued expenses and other current liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	0
Derivatives designated as hedges | Foreign exchange contracts | Other liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liability Derivatives	2.9	18.4
Derivatives designated as hedges | Interest rate contracts | Accounts receivable, net | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	0
Derivatives designated as hedges | Interest rate contracts | Other assets | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	10.1	10.9
Derivatives designated as hedges | Interest rate contracts | Accrued expenses and other current liabilities | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Liability Derivatives	0
Derivatives designated as hedges | Interest rate contracts | Other liabilities | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	4.9
Derivatives not designated as hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives		1.7
Liability Derivatives		1.5
Derivatives not designated as hedges | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	0.8
Liability Derivatives	0
Derivatives not designated as hedges | Foreign exchange contracts | Accounts receivable, net | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Asset Derivatives	0.8	1.7
Derivatives not designated as hedges | Foreign exchange contracts | Accrued expenses and other current liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0	$ 1.5

Derivatives - Schedule of Net E

Derivatives - Schedule of Net Effect Of Derivative Instruments Designated in Hedging Relationships by Income Statement Location (Details) - Derivatives designated as hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)	$ 35.7	$ (3.2)	$ 96.3
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)	12.8	11.6	63.2
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)	$ 22.9	$ (14.8)	$ 33.1

Derivatives - Schedule of Effec

Derivatives - Schedule of Effect the Derivative Instruments Not Designated as Cash Flow Hedging Instruments on Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	$ 34.8	$ 39.2	$ 16.1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest expense, Other income (expense), net	Interest expense, Other income (expense), net	Interest expense, Other income (expense), net
Derivatives not designated as hedges | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	$ 3.8	$ 0.8	$ 3.6
Effect of cash flow hedges | Derivatives designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	23.4	28.4	1.9
Effect of net investment hedges | Derivatives designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	7.6	10	10.6
Effect of fair value hedges | Derivatives designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	4.1	4.6	0
Effect of fair value hedges | Derivatives not designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gains (losses)Recognized	$ (4.1)	$ (4.6)	$ 0

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued salaries, wages and employee benefits	$ 45.3	$ 45
Accrued sales discounts and allowances	15.4	11.9
Other accrued expenses	40	56.8
Total	$ 100.7	$ 113.7

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S.	$ (92.8)	$ (256.9)	$ (123)
Foreign	13.9	(224)	26.5
Loss from continuing operations before income taxes	$ (78.9)	$ (480.9)	$ (96.5)

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Income Tax Expense (Benefit), Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income taxes:
U.S. federal	$ 0.8	$ (13.5)	$ (12.3)
U.S. state	(2.1)	(2.3)	0.3
Foreign	7	18.8	13.3
Current income taxes	5.7	3	1.3
Deferred income taxes:
U.S. federal	(27.9)	(5.7)	(13.6)
U.S. state	(0.5)	0.9	(4)
Foreign	(7.5)	28.6	(11.3)
Deferred income taxes	(35.9)	23.8	(28.9)
Provision for income taxes	$ (30.2)	$ 26.8	$ (27.6)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amount
Tax provision at U.S. statutory rate	$ (16.6)	$ (101)	$ (20.3)
Foreign income tax rate differential	(3.7)	3.3	(4.7)
Income from passthrough entities	1.8	1.9	0.6
Branch earnings	2.2	1.4	0.2
Global intangible low tax inclusion	3.4	3.5	(1.6)
Foreign derived intangible income	2.4	(0.3)	(0.1)
State income tax, net of federal benefit	(2.5)	(0.6)	(3.1)
Adjustments to valuation allowances	(4.7)	50.8	(3.3)
Other tax credits	(3.2)	(3.5)	(2.6)
Foreign tax credits	(2)	(7.4)	1.8
Other foreign operational taxes	0.7	1.8	1.5
Remeasurement of deferred taxes due to tax law	1.1	(0.3)	(3)
Non-deductible compensation expense	0.5	0.9	1.4
Non-deductible acquisition expense	0	(0.5)	5.4
Goodwill impairment	0	84.5	0
Uncertain tax positions	(5.8)	(4.2)	1.1
Worthless stock deduction	(4.6)	0	0
Other, net	0.8	(3.5)	(0.9)
Provision for income taxes	$ (30.2)	$ 26.8	$ (27.6)
Percent
Tax provision at U.S. statutory rate	21%	21%	21%
Foreign income tax rate differential	4.70%	(0.70%)	4.90%
Income from passthrough entities	(2.30%)	(0.40%)	(0.70%)
Branch earnings	(2.80%)	(0.30%)	(0.20%)
Global intangible low tax inclusion	(4.30%)	(0.70%)	1.70%
Foreign derived intangible income	(3.00%)	0.10%	0.10%
State income tax, net of federal benefit	3.20%	0.10%	3.20%
Adjustments to valuation allowances	6%	(10.60%)	3.40%
Other tax credits	4.10%	0.70%	2.70%
Foreign tax credits	2.50%	1.50%	(1.80%)
Other foreign operational taxes	(0.90%)	(0.30%)	(1.60%)
Remeasurement of deferred taxes due to tax law	(1.40%)	0.10%	3.10%
Non-deductible compensation expense	(0.60%)	(0.20%)	(1.40%)
Non-deductible acquisition expense	0%	0.10%	(5.60%)
Goodwill impairment	0%	(17.60%)	0%
Uncertain tax positions	7.40%	0.90%	(1.20%)
Worthless stock deduction	5.80%	0%	0%
Other, net	(1.10%)	0.70%	1%
Provision for income taxes	38.30%	(5.60%)	28.60%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax Credit Carryforward [Line Items]
Income tax expense (benefit)		$ (30.2)	$ 26.8	$ (27.6)
Effective tax rate (percent)		38.30%	(5.60%)	28.60%
Tax provision at U.S. statutory rate		21%	21%	21%
Tax-effected operating loss carryforwards		$ 255.6
Capital loss carryforward		33.6	$ 47.4
Valuation allowance on deferred tax assets		286.1	323
Unrecognized tax benefits that would impact effective tax rate		10.9
Decrease in unrecognized tax benefits due to lapse of statute of limitations		5.6	$ 2.4	$ 0.4
Forecast
Tax Credit Carryforward [Line Items]
Decrease in unrecognized tax benefits due to lapse of statute of limitations	$ 2.6
United States
Tax Credit Carryforward [Line Items]
Valuation allowance on deferred tax assets		44
Luxembourg
Tax Credit Carryforward [Line Items]
Valuation allowance on deferred tax assets		203.5
State
Tax Credit Carryforward [Line Items]
Valuation allowance on deferred tax assets		17.3
Tax Year 2026
Tax Credit Carryforward [Line Items]
Capital loss carryforward		25
Indefinite
Tax Credit Carryforward [Line Items]
Capital loss carryforward		7.8
Tax Year 2028 - 2033 | Foreign and state jurisdiction
Tax Credit Carryforward [Line Items]
Capital loss carryforward		20.1
Tax Year 2024 - 2042 | Foreign and state jurisdiction
Tax Credit Carryforward [Line Items]
Capital loss carryforward		9.8
Tax Year 2026 and Indefinite
Tax Credit Carryforward [Line Items]
Capital loss carryforward		$ 32.8

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets
Receivable allowances	$ 1.4	$ 1.3
Postretirement and other employee benefits	7.5	10.9
Net operating loss and tax credit carryforwards	313.3	305.5
Capital loss carryforward	33.6	47.4
Accruals and other liabilities	0	0.8
Investment in subsidiaries	1.8	0.1
Capitalized research & development	45.3	36.8
Section 163(j) interest limitation	15.6	9.9
Right of use liabilities	17.4	14.7
Other	15.6	15
Deferred Tax Assets	451.5	442.4
Less: Valuation allowance	(286.1)	(323)
Net deferred income tax assets	165.4	119.4
Deferred Tax Liabilities
Net property, plant and equipment	(83.2)	(89.2)
Intangibles	(132.3)	(136.7)
Derivatives	(13.8)	(9)
Right of use assets	(16.3)	(15.1)
Reserves and accruals	(2.7)	0
Foreign currency translation	(9.5)	0
Other	(0.8)	(5.3)
Net deferred income tax liabilities	(258.6)	(255.3)
Total net deferred income tax liabilities	$ (93.2)	$ (135.9)

Income Taxes - Schedule of Oper

Income Taxes - Schedule of Operating Loss Carryforwards (Details) $ in Millions	Dec. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
2026-2044	$ 174.4
Indefinite	81.2
Tax-effected operating loss carryforwards	$ 255.6

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Uncertain tax position balance at beginning of year	$ 20	$ 19.9	$ 9.8
Increases in current year tax positions	5.4	0.6	0.1
Increases in prior year tax positions	5.2	4.4	1.4
Decreases due to lapse of statute of limitations	(5.6)	(2.4)	(0.4)
Decreases due to settlements	(1.3)	(2.1)	0
Decreases from business acquisitions	0	(0.4)
Increases from business acquisitions			9
Uncertain tax position balance at end of year	$ 23.7	$ 20	$ 19.9

Postretirement and Other Bene_3

Postretirement and Other Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined contribution cost recognized	$ 15	$ 14.2	$ 11.4
Liability under deferred compensation plans	2.2	1.4
Grantor trust assets	$ 2.2	$ 7.5
United States
Defined Benefit Plan Disclosure [Line Items]
Coverage age	65 years
Defined contribution plan, employer discretionary contribution amount	$ 0.2
United States | Maximum
Defined Benefit Plan Disclosure [Line Items]
Rate of postretirement medical benefit costs increase	6.14%
United States | Minimum
Defined Benefit Plan Disclosure [Line Items]
Rate of postretirement medical benefit costs increase	4%
U.K.
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	$ 0
Germany
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	$ 1.4

Postretirement and Other Bene_4

Postretirement and Other Benefits - Schedule of Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in Plan Assets:
Net pension assets	$ 32.9	$ 31.2
Pension Benefits | United States
Change in PBO:
PBO at beginning of year	342	339.6
Acquisition	0	0
Service cost	1.4	1.6	$ 0.9
Interest cost	16.9	17.7	9.3
Actuarial (gain) loss	(10.5)	8.6
Participant contributions	0	0
Plan amendment	0	0
Plan settlements	0	0
Gross benefits paid	(26)	(25.5)
Currency translation effect	0	0
PBO at end of year	323.8	342	339.6
Change in Plan Assets:
Fair value of plan assets at beginning of year	356.8	349.2
Actual return on plan assets	11	32.6
Employer contributions	0.3	0.5
Participant contributions	0	0
Plan settlements	0	0
Gross benefits paid	(26)	(25.5)
Currency translation effect	0	0
Fair value of plan assets at end of year	342.1	356.8	349.2
Funded status at end of year	18.3	14.8
Pension Benefits | Non-U.S.
Change in PBO:
PBO at beginning of year	219.5	189.9
Acquisition	0	0.2
Service cost	1.2	1	0.7
Interest cost	8.7	8.4	4.4
Actuarial (gain) loss	(14.3)	27.9
Participant contributions	0	0
Plan amendment	0	0.6
Plan settlements	(33.9)	(4.8)
Gross benefits paid	(13.8)	(13.2)
Currency translation effect	(4.5)	9.5
PBO at end of year	162.9	219.5	189.9
Change in Plan Assets:
Fair value of plan assets at beginning of year	192.9	174.6
Actual return on plan assets	(5.6)	20.4
Employer contributions	1.9	6.8
Participant contributions	0	0
Plan settlements	(33.9)	(4.8)
Gross benefits paid	(13.8)	(13.2)
Currency translation effect	(2.4)	9.1
Fair value of plan assets at end of year	139.1	192.9	174.6
Funded status at end of year	(23.8)	(26.6)
Other Postretirement Benefits | United States
Change in PBO:
PBO at beginning of year	23.2	25
Acquisition	0	0
Service cost	0.1	0.2	0.1
Interest cost	1.1	1.2	0.6
Actuarial (gain) loss	0.5	1.1
Participant contributions	0	0.1
Plan amendment	0	0
Plan settlements	0	0
Gross benefits paid	(4.4)	(4.4)
Currency translation effect	0	0
PBO at end of year	20.5	23.2	25
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	4.5	4.3
Participant contributions	0	0.1
Plan settlements	0	0
Gross benefits paid	(4.5)	(4.4)
Currency translation effect	0	0
Fair value of plan assets at end of year	0	0	0
Funded status at end of year	(20.5)	(23.2)
Other Postretirement Benefits | Non-U.S.
Change in PBO:
PBO at beginning of year	3.8	3.6
Acquisition	0	0
Service cost	1.2	1.2	0.4
Interest cost	0.1	0.1	0
Actuarial (gain) loss	(0.1)	0.2
Participant contributions	0	0
Plan amendment	0	0
Plan settlements	0	0
Gross benefits paid	(1.7)	(1.4)
Currency translation effect	(0.2)	0.1
PBO at end of year	3.1	3.8	3.6
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	1.7	1.4
Participant contributions	0	0
Plan settlements	0	0
Gross benefits paid	(1.7)	(1.4)
Currency translation effect	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	$ (3.1)	$ (3.8)

Postretirement and Other Bene_5

Postretirement and Other Benefits - Schedule of PBO and ABO in Excess of Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PBO	$ 323.8	$ 342
ABO	321.5	340.1
Fair value of plan assets	342.1	356.8	$ 349.2
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PBO	162.9	219.5
ABO	162.2	218.6
Fair value of plan assets	139.1	192.9	174.6
Other Postretirement Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PBO	20.5	23.2
ABO	0	0
Fair value of plan assets	0	0	0
Other Postretirement Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PBO	3.1	3.8
ABO	0	0
Fair value of plan assets	$ 0	$ 0	$ 0

Postretirement and Other Bene_6

Postretirement and Other Benefits - Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss, Net Of Tax (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated loss (gain)	$ 16.3	$ 15.4
Prior service credit	0	0
Accumulated other comprehensive loss (gain)	16.3	15.4
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated loss (gain)	8.4	8.9
Prior service credit	0.5	0.5
Accumulated other comprehensive loss (gain)	8.9	9.4
Other Postretirement Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated loss (gain)	0.4	0.2
Prior service credit	0	0
Accumulated other comprehensive loss (gain)	0.4	0.2
Other Postretirement Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated loss (gain)	0	0
Prior service credit	0	0
Accumulated other comprehensive loss (gain)	$ 0	$ 0

Postretirement and Other Bene_7

Postretirement and Other Benefits - Schedule of Weighted Average Assumption of Projected Benefit Obligations (Details)	Dec. 31, 2024	Dec. 31, 2023
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5.63%	5.14%
Rate of compensation increase	1.93%	1.90%
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.98%	4.19%
Rate of compensation increase	2.72%	0.45%
Other Postretirement Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5.26%	5%
Rate of compensation increase		3.50%
Other Postretirement Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	3.43%	4.18%
Rate of compensation increase	2.75%	2.72%

Postretirement and Other Bene_8

Postretirement and Other Benefits - Schedule of Net Pension Benefit Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 1.4	$ 1.6	$ 0.9
Interest cost	16.9	17.7	9.3
Expected return on plan assets	(22.4)	(22.1)	(11.9)
Amortizations and other	0	0	1.7
Net periodic benefit cost (benefit)	(4.1)	(2.8)	0
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1.2	1	0.7
Interest cost	8.7	8.4	4.4
Expected return on plan assets	(6)	(4.3)	(4.3)
Amortizations and other	(2.4)	0.4	0.4
Net periodic benefit cost (benefit)	1.5	5.5	1.2
Other Postretirement Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.1	0.2	0.1
Interest cost	1.1	1.2	0.6
Expected return on plan assets	0	0	0
Amortizations and other	0	0	0
Net periodic benefit cost (benefit)	1.2	1.4	0.7
Other Postretirement Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1.2	1.2	0.4
Interest cost	0.1	0.1	0
Expected return on plan assets	0	0	0
Amortizations and other	0	0.1	0.2
Net periodic benefit cost (benefit)	$ 1.3	$ 1.4	$ 0.6

Postretirement and Other Bene_9

Postretirement and Other Benefits - Schedule of Weighted Average Assumptions - Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5.14%	5.42%	4.09%
Expected long-term rate of return on plan assets	6.27%	6.10%	5.19%
Rate of compensation increase	1.90%	1.90%	1.90%
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.32%	4.53%	3.71%
Expected long-term rate of return on plan assets	3.18%	2.48%	1.96%
Rate of compensation increase	2.72%	0.45%	2.77%
Other Postretirement Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5%	5.32%	4.42%
Expected long-term rate of return on plan assets	0%	0%	0%
Rate of compensation increase	3.50%	3.50%	3.50%
Other Postretirement Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.15%	3.96%	1.61%
Expected long-term rate of return on plan assets	0%	0%	0%
Rate of compensation increase	2.75%	1.65%	2.35%

Postretirement and Other Ben_10

Postretirement and Other Benefits - Schedule of Target Allocations (Details) - Pension Benefits	Dec. 31, 2024	Dec. 31, 2023
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	100%	100%
United States | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	1%	1%
United States | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	8%	9%
United States | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	1%	3%
United States | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	6%	16%
United States | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	84%	71%
Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	100%	100%
Non-U.S. | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	1%	4%
Non-U.S. | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	0%	0%
Non-U.S. | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	0%	0%
Non-U.S. | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	0%	0%
Non-U.S. | Fixed income securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actual allocations	99%	96%

Postretirement and Other Ben_11

Postretirement and Other Benefits - Schedule of Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 342.1	$ 356.8	$ 349.2
Pension Benefits | United States | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	3.2	2.7
Pension Benefits | United States | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	26.5	33.8
Pension Benefits | United States | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4.2	10.3
Pension Benefits | United States | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	19.2	56
Pension Benefits | United States | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	109.1	68.1
Pension Benefits | United States | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	162.7	149.7
Pension Benefits | United States | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	17.2	3.8
Pension Benefits | United States | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	32.4
Pension Benefits | United States | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	338.9	354.1
Pension Benefits | United States | Other | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Other | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	26.5	33.8
Pension Benefits | United States | Other | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	4.2	10.3
Pension Benefits | United States | Other | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	19.2	56
Pension Benefits | United States | Other | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	109.1	68.1
Pension Benefits | United States | Other | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	162.7	149.7
Pension Benefits | United States | Other | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	17.2	3.8
Pension Benefits | United States | Other | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	32.4
Pension Benefits | United States | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	3.2	2.7
Pension Benefits | United States | Level 1 | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	3.2	2.7
Pension Benefits | United States | Level 1 | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | United States | Level 1 | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	139.1	192.9	$ 174.6
Pension Plan, Excluding Immaterial Plans | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	139.1	158
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	5.6
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	68.4	87.3
Pension Plan, Excluding Immaterial Plans | Non-U.S. | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	68.8	64
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0.9	1.1
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	5.6
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	1	5.6
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 1 | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	138.1	152.4
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | Cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | Domestic large cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | Domestic small cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | International
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | US Government securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	68.4	87.3
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | International bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	68.8	64
Pension Plan, Excluding Immaterial Plans | Non-U.S. | Level 2 | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 0.9	$ 1.1

Postretirement and Other Ben_12

Postretirement and Other Benefits - Schedule of Expected Future Benefit Payments (Details) - Pension Benefits $ in Millions	Dec. 31, 2024 USD ($)
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2025	$ 26.9
2026	26.8
2027	26.9
2028	26.5
2029	26.3
2030-2033	126.3
Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2025	12.8
2026	13.3
2027	14.5
2028	13.8
2029	14.8
2030-2033	$ 79.7

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 11,400,000	$ 10,500,000	$ 20,400,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	2,800,000
Stock-based compensation	$ 11,300,000	$ 9,900,000	$ 19,700,000
Unrecognized compensation expense	$ 9,200,000
Weighted average period (in years)	1 year 8 months 12 days
Nonvested restricted shares granted (in shares)	0	0	678,343
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested restricted shares granted (in shares)	513,962	277,479	0
Restricted Stock Units (RSUs) | Neenah, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed unvested shares converted (in shares)				180,149
Assumed unvested shares converted				$ 4,200,000
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period (in years)	2 years
Nonvested restricted shares granted (in shares)	291,395	105,867	320,732
Performance Share Units (PSUs) | Neenah, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed unvested shares converted (in shares)				292,032
Assumed unvested shares converted				$ 6,800,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted Stock Plan (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Nonvested restricted shares outstanding at beginning of year (in shares)	0	526,961	377,729
Granted (in shares)	0	0	678,343
Forfeited (in shares)		(97,629)	(49,617)
Vested (in shares)		(292,519)	(479,494)
Converted to RSUs (in shares)		(136,813)	0
Nonvested restricted shares outstanding at end of year (in shares)		0	526,961
Weighted Average Fair Value at Date of Grant
Nonvested restricted shares outstanding at beginning of year (in dollars per share)	$ 0	$ 31.89	$ 36.78
Granted (in dollars per share)		0	31.17
Forfeited (in dollars per share)		33.46	30.57
Vested (in dollars per share)		32.98	34.81
Converted to RSUs (in dollars per shares)		28.43	0
Nonvested restricted shares outstanding at end of year (in dollars per share)		$ 0	$ 31.89

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of RSUs and PSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Number of Shares
Nonvested restricted shares outstanding at beginning of year (in shares)	562,070	343,142	0
Nonvested restricted shares granted (in shares)	513,962	277,479	0
Acquired and converted (in shares)	0	0	472,181
Converted from RSAs (in shares)	0	136,813	0
Forfeited (in shares)	(81,099)	(69,627)	(5,172)
Vested (in shares)	(276,418)	(125,737)	(123,867)
Nonvested restricted shares outstanding at end of year (in shares)	718,515	562,070	343,142
Weighted Average Fair Value at Date of Grant
Nonvested restricted shares outstanding at beginning of year (in dollars per share)	$ 24.68	$ 23.41	$ 0
Granted (in dollars per share)	17.87	25.33	0
Acquired and converted (in dollars per shares)	0	0	23.41
Converted from RSAs (in dollars per shares)	0	28.43	0
Forfeited (in dollars per share)	22.41	26.08	23.41
Vested (in dollars per share)	24.50	25.95	23.41
Nonvested restricted shares outstanding at end of year (in dollars per share)	$ 20.13	$ 24.68	$ 23.41
Performance Share Units (PSUs)
Number of Shares
Nonvested restricted shares outstanding at beginning of year (in shares)	273,225	320,732	0
Nonvested restricted shares granted (in shares)	291,395	105,867	320,732
Forfeited (in shares)	(82,340)	(151,186)	0
Vested (in shares)	(59,831)	(2,188)	0
Nonvested restricted shares outstanding at end of year (in shares)	422,449	273,225	320,732
Weighted Average Fair Value at Date of Grant
Nonvested restricted shares outstanding at beginning of year (in dollars per share)	$ 24.47	$ 23.57	$ 0
Granted (in dollars per share)	16.44	26.74	23.57
Forfeited (in dollars per share)	21.43	24.12	0
Vested (in dollars per share)	20.71	26.74	0
Nonvested restricted shares outstanding at end of year (in dollars per share)	$ 20.06	$ 24.47	$ 23.57

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Basic and Diluted Shares Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator (basic and diluted):
Net loss	$ (48.7)	$ (309.5)	$ (6.6)
Less: Dividends paid to participating securities	(0.2)	(0.7)	(0.9)
Net loss attributable to common stockholders, basic	(48.9)	(310.2)	(7.5)
Net loss attributable to common stockholders, diluted	$ (48.9)	$ (310.2)	$ (7.5)
Denominator:
Average number of common shares outstanding (in shares)	54,313,300	54,506,900	42,442,200
Effect of dilutive stock-based compensation (in shares)	0	0	0
Average number of common and potential common shares outstanding (in shares)	54,313,300	54,506,900	42,442,200

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Loss Contingencies [Line Items]
Contractual obligations to purchase products and services	$ 100.6
United States | Workforce Subject to Collective-Bargaining Arrangements | Unionized Employees Concentration Risk
Loss Contingencies [Line Items]
Net sales	26%
United States | Workforce Subject to Collective-Bargaining Arrangements Expiring within One Year | Unionized Employees Concentration Risk
Loss Contingencies [Line Items]
Net sales	26%
Non-U.S. | Workforce Subject to Collective-Bargaining Arrangements | Unionized Employees Concentration Risk
Loss Contingencies [Line Items]
Net sales	35%
Non-U.S. | Workforce Subject to Collective-Bargaining Arrangements Expiring within One Year | Unionized Employees Concentration Risk
Loss Contingencies [Line Items]
Net sales	12%
Maximum
Loss Contingencies [Line Items]
Indemnification liability	$ 10

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information by Segment (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 segment	Sep. 30, 2022 segment	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments | segment	2	2
Net sales			$ 1,981.1	$ 2,026	$ 1,636.9
Cost of products sold			1,617	1,670.2	1,330.9
Nonmanufacturing expenses			319.7	346.1	327.1
Restructuring, settlement and other impairment provisions			38.1	423.6	19.1
Operating income (loss)			6.3	(413.9)	(40.2)
Capital Spending			55	66	45.6
Depreciation			77.7	81.7	51.9
Long-lived assets			644.1	699.1
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			1,097.5	1,100.9	948.4
Long-lived assets			340.5	369.8
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets			28.1	32.2
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets			161.4	174.7
U.K.
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets			56.1	56.6
Other foreign countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			49.1	46.5	37.6
Long-lived assets			58	65.8
FAM
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			766.5	810	776.8
FAM | U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			414.3	456.9	536.6
FAM | Other foreign countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			16	14.2	11.5
SAS
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			1,214.6	1,216	860.1
SAS | U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			683.2	644	411.8
SAS | Other foreign countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			33.1	32.3	26.1
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Nonmanufacturing expenses			214.1	209.7	174.6
Restructuring, settlement and other impairment provisions			34.7	423.1	16.5
Operating income (loss)			115.4	(277)	114.9
Capital Spending			54	62.8	45
Depreciation			76.3	79.6	51.5
Operating Segments | FAM
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			766.5	810	776.6
Cost of products sold			592.3	613.3	582.8
Nonmanufacturing expenses			98.6	94.6	88.1
Restructuring, settlement and other impairment provisions			5.6	2.8	14.8
Operating income (loss)			70	99.3	90.9
Capital Spending			24	29.7	24.5
Depreciation			24.9	25.3	18.9
Operating Segments | SAS
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales			1,214.6	1,216	860.3
Cost of products sold			1,024.7	1,056.9	748.1
Nonmanufacturing expenses			115.5	115.1	86.5
Restructuring, settlement and other impairment provisions			29.1	420.3	1.7
Operating income (loss)			45.4	(376.3)	24
Capital Spending			30	33.1	20.5
Depreciation			51.4	54.3	32.6
Unallocated
Revenues from External Customers and Long-Lived Assets [Line Items]
Nonmanufacturing expenses			105.6	136.4	152.5
Restructuring, settlement and other impairment provisions			3.4	0.5	2.6
Operating income (loss)			(109.1)	(136.9)	(155.1)
Capital Spending			1	3.2	0.6
Depreciation			$ 1.4	$ 2.1	$ 0.4