Luxfer (LXFR) 10-Q 26 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Mar. 28, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 28, 2021
Document Transition Report	false
Entity File Number	001-35370
Entity Registrant Name	Luxfer Holdings PLC
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1024030
Entity Address, Address Line One	Lumns Lane
Entity Address, City or Town	Manchester
Entity Address, Country	GB
Entity Address, Postal Zip Code	M27 8LN
Country Region	+1
City Area Code	414
Local Phone Number	269-2419
Title of 12(b) Security	Ordinary Shares, nominal value £0.50 each
Trading Symbol	LXFR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	27,817,947
Entity Central Index Key	0001096056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Statement [Abstract]
Net sales	$ 85.2	$ 88.4
Cost of goods sold	(60)	(64.3)
Gross profit	25.2	24.1
Selling, general and administrative expenses	(10.6)	(11.4)
Research and development	(0.8)	(0.7)
Restructuring charges	(1.4)	(2.8)
Acquisition-related costs	(0.2)	(0.2)
Other charges	(1.1)	0
Operating income	11.1	9
Interest expense	(0.8)	(1.2)
Defined benefit pension credit	0.6	1.1
Income before income taxes	10.9	8.9
Provision for income taxes	(2.3)	(1.7)
Net income from continuing operations	8.6	7.2
Net loss from discontinued operations, net of tax	(1.6)	(1)
Gain on disposition of discontinued operations, net of tax	7.5	0
Net income / (loss) from discontinued operations	5.9	(1)
Net income	$ 14.5	$ 6.2
Earnings / (loss) per share
Basic from continuing operations (usd per share)	$ 0.31	$ 0.26
Basic from discontinued operations (usd per share)	0.21	(0.04)
Basic (usd per share)	0.52	0.23
Diluted from continuing operations (usd per share)	0.31	0.26
Diluted from discontinuing operations (usd per share)	0.21	(0.04)
Diluted (usd per share)	$ 0.52	$ 0.22
Weighted average ordinary shares outstanding
Basic (shares)	27,658,871	27,440,423
Diluted (shares)	28,057,323	27,894,058

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME / (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 14.5	$ 6.2
Other comprehensive income / (loss)
Net change in foreign currency translation adjustment	0.9	(7.6)
Pension and post-retirement actuarial gains, net of $0.1 and $0.1 tax, respectively	0.6	0.3
Other comprehensive income / (loss), net of tax	1.5	(7.3)
Total comprehensive income / (loss)	$ 16	$ (1.1)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME / (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Pension and post-retirement actuarial gains, tax	$ 0.1	$ 0.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 31.8	$ 1.5
Accounts and other receivables, net of allowances of $0.5 and $0.5, respectively	56	43.1
Inventories	75.6	68.8
Current assets held-for-sale	20.7	36
Other current assets	1.1	1.5
Total current assets	185.2	150.9
Non-current assets
Property, plant and equipment, net	93.9	86
Right-of-use assets from operating leases	9	9.5
Goodwill	70.5	70.2
Intangibles, net	12.7	12.8
Deferred tax assets	16.6	16.5
Investments and loans to joint ventures and other affiliates	0.5	0.5
Total assets	388.4	346.4
Current liabilities
Accounts payable	27.7	18.6
Accrued liabilities	23.7	21.5
Taxes on income	4.4	0.4
Current liabilities held-for-sale	7.3	11.4
Other current liabilities	14	13.5
Total current liabilities	77.1	65.4
Non-current liabilities
Long-term debt	73	53.4
Pensions and other retirement benefits	48.4	50.8
Deferred tax liabilities	2.8	2
Other non-current liabilities	8.2	7.7
Total liabilities	209.5	179.3
Shareholders' equity
Additional paid-in capital	69.7	70.6
Treasury shares	(4)	(4)
Own shares held by ESOP	(1.3)	(1.4)
Retained earnings	102.3	91.2
Accumulated other comprehensive loss	(164.3)	(165.8)
Total shareholders' equity	178.9	167.1
Total liabilities and shareholders' equity	388.4	346.4
Ordinary shares
Shareholders' equity
Common stock	26.6	26.6
Deferred shares
Shareholders' equity
Common stock	$ 149.9	$ 149.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) $ in Millions	Mar. 28, 2021USD ($)$ / sharesshares	Mar. 28, 2021£ / shares	Dec. 31, 2020USD ($)	Mar. 29, 2020£ / sharesshares	Mar. 29, 2020$ / sharesshares
Statement of Financial Position [Abstract]
Accounts and other receivables, net of allowances | $	$ 0.5		$ 0.5
Ordinary shares
Common stock, par value (in GBP per share) | (per share)	$ 0.50	£ 0.50		£ 0.50	$ 0.50
Common stock, shares authorized (in shares)	40,000,000			40,000,000	40,000,000
Common stock, shares issued (in shares)	29,000,000			29,000,000	29,000,000
Common stock, shares outstanding (in shares)	29,000,000			29,000,000	29,000,000
Deferred shares
Common stock, par value (in GBP per share) | £ / shares		£ 0.0001		£ 0.0001
Common stock, shares authorized (in shares)	761,845,338,444			761,845,338,444	761,845,338,444
Common stock, shares issued (in shares)	761,845,338,444			761,845,338,444	761,845,338,444
Common stock, shares outstanding (in shares)	761,845,338,444			761,845,338,444	761,845,338,444

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Operating activities
Net income	$ 14.5	$ 6.2
Net income / (loss) from discontinued operations,	(5.9)	1
Net income from continuing operations	8.6	7.2
Adjustments to reconcile net income to net cash provided by / (used for) operating activities
Depreciation	3.2	3.1
Amortization of purchased intangible assets	0.2	0.2
Amortization of debt issuance costs	0.1	0.1
Share-based compensation charges	0.5	0.5
Deferred income taxes	0.3	0.2
Defined benefit pension credit	(0.6)	(1.1)
Defined benefit pension contributions	(1.4)	(1.4)
Changes in assets and liabilities
Accounts and other receivables	(7.4)	(4.2)
Inventories	(0.1)	(2.8)
Other current assets	(1.7)	(0.2)
Accounts payable	6.7	(5)
Accrued liabilities	2.5	(0.5)
Other current liabilities	2	(0.5)
Other non-current assets and liabilities	2.3	(0.1)
Net cash provided by / (used) operating activities - continuing	15.2	(4.5)
Net cash provided by operating activities - discontinued	0	0
Net cash provided by / (used for) operating activities	15.2	(4.5)
Investing activities
Capital expenditures	(1.4)	(2.5)
Proceeds from sale of discontinued operations	21	0
Business acquisition	(19.3)	0
Net cash provided by / (used) for investing activities - continuing	0.3	(2.5)
Net cash used for investing activities - discontinued	0	0
Net cash provided by / (used for) investing activities	0.3	(2.5)
Financing activities
Net drawdown of long-term borrowings	19.5	18.9
Deferred consideration paid	0	(0.4)
Proceeds from sale of shares	0	0.1
Share-based compensation cash paid	(1.3)	(0.7)
Dividends paid	(3.4)	(3.4)
Net cash from financing activities	14.8	14.5
Effect of exchange rate changes on cash and cash equivalents	0	(0.4)
Net increase	30.3	7.1
Cash and cash equivalents; beginning of year	1.5	10.3
Cash and cash equivalents; end of the First Quarter	31.8	17.4
Supplemental cash flow information:
Interest payments	0.9	1.3
Income tax payments	$ 0	$ 0.1

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) shares in Millions, $ in Millions	Total	Additional paid-in capital	Treasury shares	Own shares held by ESOP	Retained earnings	Accumulated other comprehensive loss	Ordinary sharesCommon stock	Deferred sharesCommon stock
Beginning balance at Dec. 31, 2019	$ 174.4	$ 68.4	$ (4)	$ (1.7)	$ 84.8	$ (149.6)	$ 26.6	$ 149.9
Beginning balance (in shares) at Dec. 31, 2019			(0.4)	(1.2)
Net income	6.2				6.2
Other comprehensive (loss) income, net of tax	(7.3)					(7.3)
Dividends declared	(3.4)				(3.4)
Share-based compensation	0.5	0.5
Utilization of treasury shares to satisfy share based compensation				0.1
Utilization of treasury shares to satisfy share based compensation	(0.6)	(0.7)		$ 0.1	0
Ending balance at Mar. 29, 2020	169.8	68.2	$ (4)	$ (1.6)	87.6	(156.9)	26.6	149.9
Ending balance (in shares) at Mar. 29, 2020			(0.4)	(1.1)
Beginning balance at Dec. 31, 2020	167.1	70.6	$ (4)	$ (1.4)	91.2	(165.8)	26.6	149.9
Beginning balance (in shares) at Dec. 31, 2020			(0.4)	(1)
Net income	14.5				14.5
Other comprehensive (loss) income, net of tax	1.5					1.5
Dividends declared	(3.4)				(3.4)
Share-based compensation	0.5	0.5
Utilization of shares from ESOP to satisfy share based compensation	(1.3)	(1.4)		$ 0.1
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0
Ending balance at Mar. 28, 2021	$ 178.9	$ 69.7	$ (4)	$ (1.3)	$ 102.3	$ (164.3)	$ 26.6	$ 149.9
Ending balance (in shares) at Mar. 28, 2021			(0.4)	(1)

Basis of Presentation and Respo

Basis of Presentation and Responsibility for interim Financial Statements	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Responsibility for interim Financial Statements	Basis of Presentation and Responsibility for interim Financial Statements We prepared the accompanying unaudited consolidated condensed financial statements of Luxfer Holdings PLC and all wholly-owned, majority owned or otherwise controlled subsidiaries on the same basis as our annual audited financial statements. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Our quarterly financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2020. As used in this report, the terms "we," "us," "our," "Luxfer" and "the Company" mean Luxfer Holdings PLC and its subsidiaries, unless the context indicates another meaning. In the opinion of management, our financial statements reflect all adjustments, which are of a normal recurring nature, necessary for presentation of financial statements for interim periods in accordance with U.S. GAAP and with the instructions to Form 10-Q in Article 10 of Securities and Exchange Commission (SEC) Regulation S-X. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates, and any such differences may be material to our financial statements. Our fiscal year ends on December 31. We report our interim quarterly periods on a 13-week quarter basis, ending on a Sunday. The First Quarter, 2021, ended March 28, 2021, and the First Quarter, 2020, ended March 29, 2020. Discontinued operations Certain amounts in prior-year financial statements were reclassified to conform to the current-year presentation primarily due to the classification of certain businesses as discontinued operations. Impact of COVID-19 on the Financial Statements In March 2020, the World Health Organization characterized the coronavirus ("COVID-19") a pandemic. The rapid spread of the pandemic and the continuously evolving responses to combat it have had an increasingly negative impact on the global economy. Luxfer’s 2020 results were significantly affected by the global macro environment resulting from the COVID-19 pandemic, including broad-based market weakness, which was especially evident in our general industrial and transportation end-markets, contributing to a full year decline of 18.0% and 14.7% respectively, in each of those markets. In the first quarter of 2021, with net sales down only 3.6% and adjusted EBITDA up 12% on the prior year quarter (which was largely unaffected by the pandemic), Luxfer continues to operate all of its facilities, following temporary closures at a small number of locations in the second and third quarters of 2020. Due to weaker demand resulting from uncertain economic conditions, potential supply constraints, and the impact of COVID-19, Luxfer also implemented additional cost saving programs in the second half of 2020, including headcount reductions. While Company performance is now much improved, as the situation continues to evolve, if warranted, the Company may again suspend or reduce operations at certain facilities. In view of the rapidly changing business environment, unprecedented market volatility and heightened degree of uncertainty resulting from COVID-19, we are currently unable to fully determine its future impact on our business. However, we continue to monitor the progression of the pandemic and its potential effect on our financial position, results of operations and cash flows. The Company recognized that the COVID-19 pandemic constituted a triggering event in accordance with Accounting Standards Codification, ("ASC"), 350 Intangibles - Goodwill and Other, during the first quarter of 2020 and therefore performed an impairment assessment of its goodwill and other intangible assets. Based on the forecast at that time, we did not identify any impairments, nor marginal outcomes. During 2020 and in the first quarter of 2021, quarterly re-forecasts were performed to assess the impact COVID-19 was having on our results and liquidity, and in the fourth quarter of 2020 we carried out our annual goodwill and other intangibles impairment test using cash flows from the annual and strategic plan budgeting exercise. Nothing during the 2020 / 2021 re-forecasts nor the 2021 budget process has changed our assessment of fair value, with no impairments nor marginal outcomes identified. Assumptions and judgments are required in calculating the fair value of the reporting units. In developing our discounted cash flow analysis, assumptions about future revenues and expenses, capital expenditures and changes in working capital are based on our annual operating plan and long-term business plan for each of our reporting units. These plans take into consideration numerous factors including historical experience, anticipated future economic conditions, changes in raw material prices and growth expectations for the industries and end markets we participate in. These assumptions and judgments may change as we learn more about the impact of the COVID-19 pandemic. In relation to liquidity, the Company has access to a revolving credit facility (see Note 9) and has performed stress testing on financial covenants using current forecast information and has not identified any liquidity concerns. Accounting standards issued but not yet effective None that will be material to the Company.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share are computed by dividing net income for the period by the weighted-average number of ordinary shares outstanding, net of Treasury shares and shares held in ESOP. Diluted earnings per share are computed by dividing net income for the period by the weighted average number of ordinary shares outstanding and the dilutive ordinary shares equivalents. Basic and diluted earnings per share were calculated as follows: First Quarter In millions except share and per-share data 2021 2020 Basic earnings: Net income from continuing operations $ 8.6 $ 7.2 Net income / ( loss) from discontinued operations 5.9 (1.0) Net income $ 14.5 $ 6.2 Weighted average number of £0.50 ordinary shares: For basic earnings per share 27,658,871 27,440,423 Dilutive effect of potential common stock 398,452 453,635 For diluted earnings per share 28,057,323 27,894,058 Earnings / (loss) per share using weighted average number of ordinary shares outstanding: (1) Basic earnings per ordinary share for continuing operations $ 0.31 $ 0.26 Basic earnings / (loss) per ordinary share for discontinued operations $ 0.21 $ (0.04) Basic earnings per ordinary share $ 0.52 $ 0.23 Diluted earnings per ordinary share for continuing activities $ 0.31 $ 0.26 Diluted earnings / (loss) per ordinary share for discontinued operations $ 0.21 $ (0.04) Diluted earnings per ordinary share $ 0.52 $ 0.22 (1) The calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total. In the first quarter of 2020, basic average shares outstanding and diluted average shares outstanding were the same for discontinued operations because the effect of potential shares of common stock was anti-dilutive since the Company generated a net loss from discontinued operations. As a result, 453,635 shares combined were not included in the computation of diluted EPS for discontinued operations for the first quarter of 2020.

Net sales

Net sales	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Net sales	Net sales Disaggregated sales disclosures for the quarter ended March 28, 2021, and March 29, 2020, are included below and in Note 14, Segmental Information. First Quarter 2021 2020 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 5.8 $ 21.7 $ 27.5 $ 6.2 $ 27.7 $ 33.9 Transportation 14.9 11.8 26.7 12.9 11.2 24.1 Defense, First Response & Healthcare 15.5 15.5 31.0 18.1 12.3 30.4 $ 36.2 $ 49.0 $ 85.2 $ 37.2 $ 51.2 $ 88.4

Restructuring

Restructuring	3 Months Ended
	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The $1.4 million restructuring charge in 2021 included $0.5 million of further costs associated with the closure of Luxfer Gas Cylinders France and $0.9 million in relation to rationalization activity in the Elektron segment, which included $0.1 million of asset and inventory impairments, largely in relation to the planned divestiture of our small Luxfer Magtech production facility in Ontario, Canada. Restructuring-related costs included within Restructuring charges in the Condensed Consolidated Financial Statements by reportable segment were as follows: First Quarter In millions 2021 2020 Severance and related costs Gas Cylinders segment $ 0.5 $ 2.6 Elektron segment 0.9 — Other — 0.2 Total restructuring charges $ 1.4 $ 2.8 Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2021 Balance at January 1, $ 9.0 Costs incurred 1.4 Cash payments and other (1.1) Balance at March 29, $ 9.3

Acquisition and disposal relate

Acquisition and disposal related costs	3 Months Ended
	Mar. 28, 2021
Business Combinations [Abstract]
Acquisition and disposal related costs	Acquisition-related costs On March 15, 2021 the Company completed the acquisition of the Structural Composites Industries LLC (SCI) business of Worthington Industries, Inc., based in Pomona, California, for $19.3 million cash consideration. The acquisition of SCI strengthens Luxfer’s composite cylinder offerings and aligns with recent investment to enhance our alternative fuel capabilities to capitalize on the growing compressed natural gas (CNG) and hydrogen opportunities. We are currently undertaking the purchase price allocation in line with ASC 805 - Business combinations and as a result the allocations presented in the consolidated balance sheets are provisional based on our best current estimates. The provisional acquired assets and liabilities as of march 15, 2021 are presented as follows: In millions March 15, 2021 Accounts and other receivables $ 4.8 Inventories 6.7 Property, plant and equipment 9.5 Less: Accounts payable 1.6 Accrued expenses 0.1 Net assets acquired $ 19.3 Purchase consideration $ 19.3 Actual and pro forma revenue and results of operations for the acquisition of SCI have not been presented as they are not material to the consolidated revenue and results of operations. Acquisition-related costs of $0.2 million in the First Quarter of 2021 represent professional fees incurred in relation to the SCI acquisition.

Other charges

Other charges	3 Months Ended
	Mar. 28, 2021
Other Income and Expenses [Abstract]
Other charges	Other chargesOther charges of $1.1 million in the First Quarter of 2021 relates to the settlement of a class action lawsuit in the Gas Cylinders segment in relation to an alleged historic violation of the Californian Labor Code, concerning a Human Resources administration matter. The Company expects the cash related to the settlement to be paid during the year, with no additional charge to the income statement.

Supplementary balance sheet inf

Supplementary balance sheet information	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary balance sheet information	Supplementary balance sheet information March 28, December 31, In millions 2021 2020 Accounts and other receivables Trade receivables $ 48.8 $ 33.6 Related parties 0.2 0.2 Prepayments and accrued income 4.2 5.5 Derivative financial instruments 0.3 0.2 Deferred consideration 0.2 0.2 Other receivables 2.3 3.4 Total accounts and other receivables $ 56.0 $ 43.1 Inventories Raw materials and supplies $ 30.6 $ 26.2 Work-in-process 24.0 19.7 Finished goods 21.0 22.9 Total inventories $ 75.6 $ 68.8 Other current assets Income tax receivable 1.1 1.5 Total other current assets $ 1.1 $ 1.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 65.5 $ 65.2 Machinery and equipment 269.2 255.3 Construction in progress 5.1 7.8 Total property, plant and equipment 339.8 328.3 Accumulated depreciation and impairment (245.9) (242.3) Total property, plant and equipment, net $ 93.9 $ 86.0 Other current liabilities Contingent liabilities $ 11.5 $ 10.1 Derivative financial instruments 0.3 0.4 Operating lease liability 2.0 2.9 Other current liabilities 0.2 0.1 Total other current liabilities $ 14.0 $ 13.5 Other non-current liabilities Contingent liabilities $ 1.0 $ 1.0 Operating lease liability 7.2 6.7 Total other non-current liabilities $ 8.2 $ 7.7 7. Supplementary balance sheet information (continued) Held-for-sale assets and liabilities In 2020, the Company classified its Superform aluminum superplastic forming business operating from sites in the U.S. and the U.K, and our U.S. aluminum gas cylinder business as assets and liabilities held-for-sale in accordance with ASC 205-20 Discontinued Operations. See Note 10 for a breakdown of this disposal group. There was also one building valued at $3.7 million, within our Elektron Segment classified as held-for-sale assets, previously included within other current assets. The building was classified as held-for-sale in 2019, as the expectation was that the building would be sold in 2020. There are conditions attached to the sale which the Company now expects to be met in 2021 and as such the building continues to be classified as held-for-sale. The respective assets and liabilities of the above disposal groups have been reclassified as held-for-sale per the table below. Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 5.1 $ 11.6 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 20.7 $ 36.0 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4

Goodwill and other identifiable

Goodwill and other identifiable intangible assets	3 Months Ended
	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other identifiable intangible assets	Goodwill and other identifiable intangible assets Changes in goodwill during the First Quarter, ended March 28, 2021, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2021 $ 27.9 $ 42.3 $ 70.2 Exchange difference 0.2 0.1 0.3 Balance at March 28, 2021 $ 28.1 $ 42.4 $ 70.5 Identifiable intangible assets consisted of the following: March 28, 2021 December 31, 2020 In millions Gross Accumulated amortization Net Gross Accumulated amortization Net Customer relationships $ 13.4 $ (5.3) $ 8.1 $ 13.4 $ (5.2) $ 8.2 Technology and trading related 8.4 (3.8) 4.6 8.3 (3.7) 4.6 $ 21.8 $ (9.1) $ 12.7 $ 21.7 $ (8.9) $ 12.8 Identifiable intangible asset amortization expense was $0.2 million and $0.2 million for the First Quarter of 2021 and 2020 respectively. Intangible asset amortization expense during the remainder of 2021 and over the next five years is expected to be approximately $0.5 million in 2021, $0.7 million in 2022, $0.7 million in 2023, $0.7 million in 2024, $0.7 million in 2025 and $0.7 million in 2026.

Debt

Debt	3 Months Ended
	Mar. 28, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was as follows: In millions March 28, 2021 December 31, 2020 4.88% Loan Notes due 2023 25.0 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 23.6 4.1 Unamortized debt issuance costs (0.6) (0.7) Total debt $ 73.0 $ 53.4 Less current portion $ — $ — Non-current debt $ 73.0 $ 53.4 The weighted-average interest rate on the revolving credit facility was 2.1% for the First Quarter of 2021 and 2.19% for the full-year 2020. The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts, is as follows: In millions 2021 2022 2023 2024 2025 2026 Thereafter Total Loan Notes due 2023 — — 25.0 — — — — 25.0 Loan Notes due 2026 — — — — — 25.0 — 25.0 Revolving credit facility — 23.6 — — — — — 23.6 Total debt $ — $ 23.6 $ 25.0 $ — $ — $ 25.0 $ — $ 73.6 Loan notes due and revolving credit facility We have been in compliance with the covenants under the Note Purchase and Private Shelf Agreement throughout all of the quarterly measurement dates from and including September 30, 2014, to March 28, 2021. The Loan Notes due 2023 and 2026, the Revolving Credit Facility and the Note Purchase and Private Shelf Agreement are governed by the law of the State of New York. Senior Facilities Agreement During the First Quarter of 2021, we drew down net $19.5 million on the Revolving Credit Facility and the balance outstanding at March 28, 2021, was $23.6 million, and at December 31, 2020, was $4.1 million, with $126.4 million undrawn at March 28, 2021 and $145.9 million at December 31, 2020. We have been in compliance with the covenants under the Senior Facilities Agreement throughout all of the quarterly measurement dates from and including September 30, 2011, to March 28, 2021.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 28, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Our Superform aluminum superplastic forming business operating from sites in the U.S. and the U.K, and our U.S. aluminum gas cylinder business were historically included in the Gas Cylinders segment. As a result of our decision to exit non-strategic aluminum product lines, we have reflected the results of operations of these businesses as discontinued operations in the Condensed Consolidated Statements of Income for all periods presented. Our U.S. aluminum business was sold in March 2021 and we expect the sales of our Superform businesses to occur in 2021. The assets and liabilities of the Superform businesses have been presented within Current assets held-for-sale and Current liabilities held-for-sale in the consolidated balance sheets for 2021 and 2020 and our U.S. aluminum business in 2020. The Company has determined that the carrying value of the held-for-sale assets is recoverable and as a result no loss allowances have been recognized. Results of discontinued operations were as follows: First Quarter In millions 2021 2020 Net sales $ 9.7 $ 15.4 Cost of goods sold (10.1) (15.0) Gross profit $ (0.4) $ 0.4 Selling, general and administrative expenses (1.4) (1.4) Operating loss $ (1.8) $ (1.0) Tax credit 0.2 — Net loss $ (1.6) $ (1.0) In the First Quarter of 2021, the Company made a $7.5 million gain on the sale of the U.S. aluminum business, net of a $2.0 million tax charge. First Quarter In millions 2021 Cash consideration received $ 21.0 Less Net assets sold (11.5) Gross gain on disposition 9.5 Tax expense (2.0) Net gain on disposition $ 7.5 The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 1.4 $ 7.9 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 17.0 $ 32.3 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4 Also included within assets held-for-sale in 2021 and 2020 is one building valued at $3.7 million, within our Elektron Segment. The depreciation and amortization, capital expenditures and significant non-cash items were as follows: First Quarter In millions 2021 2020 Cash flows from discontinued operating activities: Depreciation $ 0.2 $ 0.3 Cash balances are swept into the treasury entities at the end of each day, these sweeps are recorded within operating cash flows in the statements of cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 28, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We manage our affairs so that we are centrally managed and controlled in the United Kingdom (“U.K.”) and therefore have our tax residency in the U.K. The provision for income taxes consists of provisions for the U.K. and international income taxes. We operate in an international environment with operations in various locations outside the U.K. Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in the various locations and the applicable rates. The effective income tax rate for the Quarter ended March 28, 2021, was 21.1%, compared to 19.1% for the Quarter ended March 29, 2020.

Share Plans

Share Plans	3 Months Ended
	Mar. 28, 2021
Share-based Payment Arrangement [Abstract]
Share Plans	Share Plans Total share-based compensation expense for the quarters ended March 28, 2021, and March 29, 2020, was as follows: First Quarter In millions 2021 2020 Total share-based compensation charges $ 0.5 $ 0.5 In March 2021, we issued our annual share-based compensation grants under the Luxfer Holdings PLC Long-Term Umbrella Incentive Plan. The total number of awards issued was approximately 110,000 and the weighted average fair value of options granted in 2021 was estimated to be $21.14 per share. Also in March 2021, approximately 45,000 awards were granted based on the achievement of total shareholder return targets from the period January 1, 2018 to December 31, 2020. The awards vested immediately upon grant. The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2021 and the year-ended December 31, 2020: First Quarter Year ended December 31, 2021 2020 Dividend yield (%) 3.39 - 4.09 3.39 - 4.09 Expected volatility range (%) 36.48 - 56.28 36.48 - 56.28 Risk-free interest rate (%) 0.18 - 0.49 0.18 - 0.49 Expected life of share options range (years) 0.50 - 4.00 0.50 - 4.00 Forfeiture rate (%) 5.00 5.00 Weighted average exercise price ($) $1.00 $1.00 Models used Black-Scholes Black-Scholes & Monte-Carlo The expected life of the share options is based on historical data and current expectations, and is not necessarily indicative of exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity (a) Dividends paid and proposed In millions 2021 2020 Dividends declared and paid during the year: Interim dividend paid February 5, 2020 ($0.125 per ordinary share) $ — $ 3.4 Interim dividend paid February 4, 2021 ($0.125 per ordinary share) 3.4 — $ 3.4 $ 3.4 In millions 2021 2020 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared April 6, and paid May 6, 2020: ($0.125 per ordinary share) $ — $ 3.4 Interim dividend declared April 5, and to be paid May 5, 2021: ($0.125 per ordinary share) 3.4 — $ 3.4 $ 3.4

Segmental Information

Segmental Information	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Segmental Information	Segmental Information We classify our operations into two core business segments, Gas Cylinders and Elektron, based primarily on shared economic characteristics for the nature of the products and services; the nature of the production processes; the type or class of customer for their products and services; the methods used to distribute their products or provide their services; and the nature of the regulatory environment. The Company has four identified business units, which aggregate into the two reportable segments. Luxfer Gas Cylinders forms the Gas Cylinders segment, and Luxfer MEL Technologies, Luxfer Magtech and Luxfer Graphic Arts aggregate into the Elektron segment. The Superform business unit used to aggregate into the Gas Cylinders segment, but is now recognized as discontinued operations. A summary of the operations of the segments is provided below: Gas Cylinders segment Our Gas Cylinders segment manufactures and markets specialized products using composites and aluminum, including pressurized cylinders for use in various applications including self-contained breathing apparatus (SCBA) for firefighters, containment of oxygen and other medical gases for healthcare, alternative fuel vehicles, and general industrial. Elektron segment Our Elektron segment focuses on specialty materials based primarily on magnesium and zirconium, with key product lines including advanced lightweight magnesium alloys with a variety of uses across a variety of industries; magnesium powders for use in countermeasure flares, as well as heater meals; photoengraving plates for graphic arts; and high-performance zirconium-based materials and oxides used as catalysts and in the manufacture of advanced ceramics, fiber-optic fuel cells, and many other performance products. Other Other primarily represents unallocated corporate expense and includes non-service related defined benefit pension cost / credit. Management monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated by the chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments as the CEO, using adjusted EBITA (1) and adjusted EBITDA, which we defined as segment income and are based on operating income adjusted for share based compensation charges; loss on disposal of property, plant and equipment; restructuring charges; impairment charges; acquisition and disposal related gains and costs; other charges; depreciation and amortization; and unwind of the discount on deferred consideration. Unallocated assets and liabilities include those which are held on behalf of the Company and cannot be allocated to a segment, such as taxation, investments, cash, retirement benefits obligations, bank and other loans and holding company assets and liabilities. Financial information by reportable segment for the Quarter ended March 28, 2021, and March 29, 2020, is included in the following summary: Net sales Adjusted EBITDA First Quarter First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 36.2 $ 37.2 $ 6.0 $ 4.2 Elektron segment 49.0 51.2 11.7 11.6 Consolidated $ 85.2 $ 88.4 $ 17.7 $ 15.8 Depreciation and amortization Restructuring charges First Quarter First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 0.9 $ 0.9 $ 0.5 $ 2.6 Elektron segment 2.5 2.4 0.9 — Other — — — 0.2 Consolidated $ 3.4 $ 3.3 $ 1.4 $ 2.8 (1) Adjusted EBITA is adjusted EBITDA less depreciation. 14. Segmental Information (continued) Total assets Capital expenditures First Quarter December 31, First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 122.5 $ 99.7 $ 0.3 $ 0.5 Elektron segment 197.2 189.7 1.2 1.1 Other 51.7 24.7 — — Discontinued operations 17.0 32.3 — — $ 388.4 $ 346.4 $ 1.5 $ 1.6 Property, plant and equipment, net First Quarter December 31, In millions 2021 2020 United States $ 52.7 $ 44.3 United Kingdom 36.2 36.6 Rest of Europe 1.1 1.1 Asia Pacific 0.3 0.3 Canada 3.6 3.7 $ 93.9 $ 86.0 The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: First Quarter In millions 2021 2020 Adjusted EBITDA $ 17.7 $ 15.8 Other share-based compensation charges (0.5) (0.5) Depreciation and amortization (3.4) (3.3) Restructuring charges (1.4) (2.8) Acquisition costs (0.2) (0.2) Other charges (1.1) — Defined benefits pension pension credit 0.6 1.1 Interest expense, net (0.8) (1.2) Provision for income taxes (2.3) (1.7) Net income from continuing operations $ 8.6 $ 7.2 The following tables present certain geographic information by geographic region for the First Quarter ended March 28, 2021, and March 29, 2020: Net Sales (1) 2021 2020 $M Percent $M Percent United States $ 46.7 54.9 % $ 50.3 56.8 % U.K. 5.3 6.2 % 5.4 6.1 % Germany 3.7 4.3 % 3.5 4.0 % Italy 3.6 4.2 % 2.8 3.2 % France 3.3 3.9 % 4.6 5.2 % Top five countries $ 62.6 73.5 % $ 66.6 75.3 % Rest of Europe 7.1 8.3 % 7.0 7.9 % Asia Pacific 11.0 12.9 % 10.4 11.8 % Other (2) 4.5 5.3 % 4.4 5.0 % $ 85.2 $ 88.4 (1) Net sales are based on the geographic destination of sale. (2) Other includes Canada, South America, Latin America and Africa.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 28, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Committed and uncommited banking facilities The Company had committed banking facilities of $150.0 million at March 28, 2021 and December 31, 2020. Of these committed facilities, $23.6 million was drawn at March 28, 2021 and $4.1 million at December 31, 2020. The Company had a separate (uncommitted) facility for letters of credit which at March 28, 2021 was £1.0 million ($1.4 million) and December 31, 2020 was £1.0 million ($1.3 million). None of these were utilized at March 28, 2021 and December 31, 2020, respectively. The Company also has two separate (uncommitted) bonding facilities for bank guarantees, one denominated in GBP sterling of £4.5 million (2021: $6.2 million, 2020: $6.1 million), and one denominated in USD of $1.5 million (2020: $1.5 million). Of that dominated in GBP, £1.0 million ($1.4 million) and £1.0 million ($1.4 million) was utilized at March 28, 2021, and December 31, 2020, respectively. Of that denominated in USD, $0.8 million was utilized at March 28, 2021 and $0.8 million was utilized at December 31, 2020. The Company also has a $4.0 million separate overdraft facility of which none was drawn at March 28, 2021 and at December 31, 2020. Contingencies During February 2014, a cylinder was sold to a long-term customer and ruptured at one of their gas facilities. As a result of this rupture, three people were noted to have injuries such as loss of hearing. There was no major damage to assets of the customer. A claim has been launched by the three people who were injured in the incident. We have reviewed our quality control checks from around the time which the cylinder was produced and no instances of failures have been noted. It has also been noted by the investigator that the customer has poor quality and safety checks. As a result we do not believe that we are liable for the incident, and therefore, do not currently expect this case to have a material impact on the Company's financial position or results of operations. In November 2018, an alleged explosion occurred at a third-party waste disposal and treatment site in Boise, Idaho, reportedly causing property damage, personal injury, and one fatality. We had contracted with a service company for removal and disposal of certain waste resulting from the magnesium powder manufacturing operations at the Reade facility in Manchester, New Jersey. We believe this service company, in turn, apparently contracted with the third-party disposal company, at whose facility the explosion occurred, for treatment and disposal of the waste. In November 2020, we were named as a defendant in three lawsuits in relation to the incident – one by the third-party disposal company, one by the estate of the decedent, and one by an injured employee of the third-party disposal company. At present, we have received insufficient information on the cause of the explosion. We do not believe that we are liable for the incident, have asserted such, and, therefore, do not currently expect this matter to have a material impact on the Company’s financial position or results of operations.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 28, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNo material events.

Basis of Presentation and Res_2

Basis of Presentation and Responsibility for interim Financial Statements (Policies)	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	We prepared the accompanying unaudited consolidated condensed financial statements of Luxfer Holdings PLC and all wholly-owned, majority owned or otherwise controlled subsidiaries on the same basis as our annual audited financial statements. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Our quarterly financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2020. As used in this report, the terms "we," "us," "our," "Luxfer" and "the Company" mean Luxfer Holdings PLC and its subsidiaries, unless the context indicates another meaning. In the opinion of management, our financial statements reflect all adjustments, which are of a normal recurring nature, necessary for presentation of financial statements for interim periods in accordance with U.S. GAAP and with the instructions to Form 10-Q in Article 10 of Securities and Exchange Commission (SEC) Regulation S-X. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates, and any such differences may be material to our financial statements.
Fiscal year	Our fiscal year ends on December 31. We report our interim quarterly periods on a 13-week quarter basis, ending on a Sunday. The First Quarter, 2021, ended March 28, 2021, and the First Quarter, 2020, ended March 29, 2020.
Discontinued operations	Discontinued operations Certain amounts in prior-year financial statements were reclassified to conform to the current-year presentation primarily due to the classification of certain businesses as discontinued operations.
Accounting standards issued but not yet effective	Accounting standards issued but not yet effective None that will be material to the Company.

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Basic and diluted earnings per share were calculated as follows: First Quarter In millions except share and per-share data 2021 2020 Basic earnings: Net income from continuing operations $ 8.6 $ 7.2 Net income / ( loss) from discontinued operations 5.9 (1.0) Net income $ 14.5 $ 6.2 Weighted average number of £0.50 ordinary shares: For basic earnings per share 27,658,871 27,440,423 Dilutive effect of potential common stock 398,452 453,635 For diluted earnings per share 28,057,323 27,894,058 Earnings / (loss) per share using weighted average number of ordinary shares outstanding: (1) Basic earnings per ordinary share for continuing operations $ 0.31 $ 0.26 Basic earnings / (loss) per ordinary share for discontinued operations $ 0.21 $ (0.04) Basic earnings per ordinary share $ 0.52 $ 0.23 Diluted earnings per ordinary share for continuing activities $ 0.31 $ 0.26 Diluted earnings / (loss) per ordinary share for discontinued operations $ 0.21 $ (0.04) Diluted earnings per ordinary share $ 0.52 $ 0.22 (1) The calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total.

Net sales (Tables)

Net sales (Tables)	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregated sales disclosures for the quarter ended March 28, 2021, and March 29, 2020, are included below and in Note 14, Segmental Information. First Quarter 2021 2020 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 5.8 $ 21.7 $ 27.5 $ 6.2 $ 27.7 $ 33.9 Transportation 14.9 11.8 26.7 12.9 11.2 24.1 Defense, First Response & Healthcare 15.5 15.5 31.0 18.1 12.3 30.4 $ 36.2 $ 49.0 $ 85.2 $ 37.2 $ 51.2 $ 88.4

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring-related costs included within Restructuring charges in the Condensed Consolidated Financial Statements by reportable segment were as follows: First Quarter In millions 2021 2020 Severance and related costs Gas Cylinders segment $ 0.5 $ 2.6 Elektron segment 0.9 — Other — 0.2 Total restructuring charges $ 1.4 $ 2.8
Schedule of Restructuring Reserve	Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2021 Balance at January 1, $ 9.0 Costs incurred 1.4 Cash payments and other (1.1) Balance at March 29, $ 9.3

Acquisition and disposal rela_2

Acquisition and disposal related costs (Tables)	3 Months Ended
	Mar. 28, 2021
Business Combinations [Abstract]
Schedule of Business Acquisitions	The provisional acquired assets and liabilities as of march 15, 2021 are presented as follows: In millions March 15, 2021 Accounts and other receivables $ 4.8 Inventories 6.7 Property, plant and equipment 9.5 Less: Accounts payable 1.6 Accrued expenses 0.1 Net assets acquired $ 19.3 Purchase consideration $ 19.3

Supplementary balance sheet i_2

Supplementary balance sheet information (Tables)	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Balance Sheet	Supplementary balance sheet information March 28, December 31, In millions 2021 2020 Accounts and other receivables Trade receivables $ 48.8 $ 33.6 Related parties 0.2 0.2 Prepayments and accrued income 4.2 5.5 Derivative financial instruments 0.3 0.2 Deferred consideration 0.2 0.2 Other receivables 2.3 3.4 Total accounts and other receivables $ 56.0 $ 43.1 Inventories Raw materials and supplies $ 30.6 $ 26.2 Work-in-process 24.0 19.7 Finished goods 21.0 22.9 Total inventories $ 75.6 $ 68.8 Other current assets Income tax receivable 1.1 1.5 Total other current assets $ 1.1 $ 1.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 65.5 $ 65.2 Machinery and equipment 269.2 255.3 Construction in progress 5.1 7.8 Total property, plant and equipment 339.8 328.3 Accumulated depreciation and impairment (245.9) (242.3) Total property, plant and equipment, net $ 93.9 $ 86.0 Other current liabilities Contingent liabilities $ 11.5 $ 10.1 Derivative financial instruments 0.3 0.4 Operating lease liability 2.0 2.9 Other current liabilities 0.2 0.1 Total other current liabilities $ 14.0 $ 13.5 Other non-current liabilities Contingent liabilities $ 1.0 $ 1.0 Operating lease liability 7.2 6.7 Total other non-current liabilities $ 8.2 $ 7.7
Schedule of Current Held-for-Sale Assets and Liabilities	The respective assets and liabilities of the above disposal groups have been reclassified as held-for-sale per the table below. Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 5.1 $ 11.6 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 20.7 $ 36.0 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4 Results of discontinued operations were as follows: First Quarter In millions 2021 2020 Net sales $ 9.7 $ 15.4 Cost of goods sold (10.1) (15.0) Gross profit $ (0.4) $ 0.4 Selling, general and administrative expenses (1.4) (1.4) Operating loss $ (1.8) $ (1.0) Tax credit 0.2 — Net loss $ (1.6) $ (1.0) In the First Quarter of 2021, the Company made a $7.5 million gain on the sale of the U.S. aluminum business, net of a $2.0 million tax charge. First Quarter In millions 2021 Cash consideration received $ 21.0 Less Net assets sold (11.5) Gross gain on disposition 9.5 Tax expense (2.0) Net gain on disposition $ 7.5 The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 1.4 $ 7.9 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 17.0 $ 32.3 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4 The depreciation and amortization, capital expenditures and significant non-cash items were as follows: First Quarter In millions 2021 2020 Cash flows from discontinued operating activities: Depreciation $ 0.2 $ 0.3

Goodwill and other identifiab_2

Goodwill and other identifiable intangible assets (Tables)	3 Months Ended
	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill during the First Quarter, ended March 28, 2021, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2021 $ 27.9 $ 42.3 $ 70.2 Exchange difference 0.2 0.1 0.3 Balance at March 28, 2021 $ 28.1 $ 42.4 $ 70.5
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following: March 28, 2021 December 31, 2020 In millions Gross Accumulated amortization Net Gross Accumulated amortization Net Customer relationships $ 13.4 $ (5.3) $ 8.1 $ 13.4 $ (5.2) $ 8.2 Technology and trading related 8.4 (3.8) 4.6 8.3 (3.7) 4.6 $ 21.8 $ (9.1) $ 12.7 $ 21.7 $ (8.9) $ 12.8

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 28, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Debt outstanding was as follows: In millions March 28, 2021 December 31, 2020 4.88% Loan Notes due 2023 25.0 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 23.6 4.1 Unamortized debt issuance costs (0.6) (0.7) Total debt $ 73.0 $ 53.4 Less current portion $ — $ — Non-current debt $ 73.0 $ 53.4
Schedule of Maturities of Company's Debt	The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts, is as follows: In millions 2021 2022 2023 2024 2025 2026 Thereafter Total Loan Notes due 2023 — — 25.0 — — — — 25.0 Loan Notes due 2026 — — — — — 25.0 — 25.0 Revolving credit facility — 23.6 — — — — — 23.6 Total debt $ — $ 23.6 $ 25.0 $ — $ — $ 25.0 $ — $ 73.6

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 28, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Current Held-for-Sale Assets and Liabilities	The respective assets and liabilities of the above disposal groups have been reclassified as held-for-sale per the table below. Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 5.1 $ 11.6 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 20.7 $ 36.0 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4 Results of discontinued operations were as follows: First Quarter In millions 2021 2020 Net sales $ 9.7 $ 15.4 Cost of goods sold (10.1) (15.0) Gross profit $ (0.4) $ 0.4 Selling, general and administrative expenses (1.4) (1.4) Operating loss $ (1.8) $ (1.0) Tax credit 0.2 — Net loss $ (1.6) $ (1.0) In the First Quarter of 2021, the Company made a $7.5 million gain on the sale of the U.S. aluminum business, net of a $2.0 million tax charge. First Quarter In millions 2021 Cash consideration received $ 21.0 Less Net assets sold (11.5) Gross gain on disposition 9.5 Tax expense (2.0) Net gain on disposition $ 7.5 The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 28, December 31, In millions 2021 2020 Property, plant and equipment $ 1.4 $ 7.9 Right-of-use-assets from operating leases 2.9 3.1 Inventory 6.3 12.6 Accounts and other receivables 6.4 8.7 Held-for-sale assets $ 17.0 $ 32.3 Held-for-sale liabilities Accounts payable 2.9 4.3 Accrued liabilities 1.1 1.5 Other current liabilities 3.3 5.6 Held-for-sale liabilities $ 7.3 $ 11.4 The depreciation and amortization, capital expenditures and significant non-cash items were as follows: First Quarter In millions 2021 2020 Cash flows from discontinued operating activities: Depreciation $ 0.2 $ 0.3

Share Plans (Tables)

Share Plans (Tables)	3 Months Ended
	Mar. 28, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Total share-based compensation expense for the quarters ended March 28, 2021, and March 29, 2020, was as follows: First Quarter In millions 2021 2020 Total share-based compensation charges $ 0.5 $ 0.5
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2021 and the year-ended December 31, 2020: First Quarter Year ended December 31, 2021 2020 Dividend yield (%) 3.39 - 4.09 3.39 - 4.09 Expected volatility range (%) 36.48 - 56.28 36.48 - 56.28 Risk-free interest rate (%) 0.18 - 0.49 0.18 - 0.49 Expected life of share options range (years) 0.50 - 4.00 0.50 - 4.00 Forfeiture rate (%) 5.00 5.00 Weighted average exercise price ($) $1.00 $1.00 Models used Black-Scholes Black-Scholes & Monte-Carlo

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Schedule of Dividends Paid and Proposed	In millions 2021 2020 Dividends declared and paid during the year: Interim dividend paid February 5, 2020 ($0.125 per ordinary share) $ — $ 3.4 Interim dividend paid February 4, 2021 ($0.125 per ordinary share) 3.4 — $ 3.4 $ 3.4 In millions 2021 2020 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared April 6, and paid May 6, 2020: ($0.125 per ordinary share) $ — $ 3.4 Interim dividend declared April 5, and to be paid May 5, 2021: ($0.125 per ordinary share) 3.4 — $ 3.4 $ 3.4

Segmental Information (Tables)

Segmental Information (Tables)	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by reportable segment for the Quarter ended March 28, 2021, and March 29, 2020, is included in the following summary: Net sales Adjusted EBITDA First Quarter First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 36.2 $ 37.2 $ 6.0 $ 4.2 Elektron segment 49.0 51.2 11.7 11.6 Consolidated $ 85.2 $ 88.4 $ 17.7 $ 15.8 Depreciation and amortization Restructuring charges First Quarter First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 0.9 $ 0.9 $ 0.5 $ 2.6 Elektron segment 2.5 2.4 0.9 — Other — — — 0.2 Consolidated $ 3.4 $ 3.3 $ 1.4 $ 2.8 (1) Adjusted EBITA is adjusted EBITDA less depreciation. 14. Segmental Information (continued) Total assets Capital expenditures First Quarter December 31, First Quarter In millions 2021 2020 2021 2020 Gas Cylinders segment $ 122.5 $ 99.7 $ 0.3 $ 0.5 Elektron segment 197.2 189.7 1.2 1.1 Other 51.7 24.7 — — Discontinued operations 17.0 32.3 — — $ 388.4 $ 346.4 $ 1.5 $ 1.6
Property, plant and equipment, net by geographic region	Property, plant and equipment, net First Quarter December 31, In millions 2021 2020 United States $ 52.7 $ 44.3 United Kingdom 36.2 36.6 Rest of Europe 1.1 1.1 Asia Pacific 0.3 0.3 Canada 3.6 3.7 $ 93.9 $ 86.0
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: First Quarter In millions 2021 2020 Adjusted EBITDA $ 17.7 $ 15.8 Other share-based compensation charges (0.5) (0.5) Depreciation and amortization (3.4) (3.3) Restructuring charges (1.4) (2.8) Acquisition costs (0.2) (0.2) Other charges (1.1) — Defined benefits pension pension credit 0.6 1.1 Interest expense, net (0.8) (1.2) Provision for income taxes (2.3) (1.7) Net income from continuing operations $ 8.6 $ 7.2
Revenue from External Customers and Long-term Assets by Geographic Areas	The following tables present certain geographic information by geographic region for the First Quarter ended March 28, 2021, and March 29, 2020: Net Sales (1) 2021 2020 $M Percent $M Percent United States $ 46.7 54.9 % $ 50.3 56.8 % U.K. 5.3 6.2 % 5.4 6.1 % Germany 3.7 4.3 % 3.5 4.0 % Italy 3.6 4.2 % 2.8 3.2 % France 3.3 3.9 % 4.6 5.2 % Top five countries $ 62.6 73.5 % $ 66.6 75.3 % Rest of Europe 7.1 8.3 % 7.0 7.9 % Asia Pacific 11.0 12.9 % 10.4 11.8 % Other (2) 4.5 5.3 % 4.4 5.0 % $ 85.2 $ 88.4 (1) Net sales are based on the geographic destination of sale. (2) Other includes Canada, South America, Latin America and Africa.

Basis of Presentation and Res_3

Basis of Presentation and Responsibility for interim Financial Statements (Details)	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Change in revenue from prior period, percent	3.60%
Change in EBITDA from prior year quarter	12.00%
General industrial
Disaggregation of Revenue [Line Items]
Change in revenue from prior period, percent		18.00%
Transportation
Disaggregation of Revenue [Line Items]
Change in revenue from prior period, percent		14.70%

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 28, 2021USD ($)$ / sharesshares	Mar. 29, 2020USD ($)$ / sharesshares	Mar. 28, 2021£ / shares	Mar. 29, 2020£ / shares
Basic earnings:
Net income from continuing operations | $	$ 8.6	$ 7.2
Net income / ( loss) from discontinued operations | $	5.9	(1)
Net income | $	$ 14.5	$ 6.2
Weighted average number of £0.50 ordinary shares:
For basic earnings per share (shares) | shares	27,658,871	27,440,423
Dilutive effect of potential common stock (shares) | shares	398,452	453,635
For diluted earnings per share (shares) | shares	28,057,323	27,894,058
Earnings / (loss) per share using weighted average number of ordinary shares outstanding
Basic earnings per ordinary share for continuing operations (usd per share)	$ 0.31	$ 0.26
Basic earnings / (loss) per ordinary share from discontinued operations	0.21	(0.04)
Basic (usd per share)	0.52	0.23
Diluted earnings per ordinary share for continuing activities (usd per share)	0.31	0.26
Diluted earnings / (loss) per ordinary share for discontinued operations (usd per share)	0.21	(0.04)
Diluted (usd per share)	0.52	$ 0.22
Class of Stock [Line Items]
Shares not included in the computation of diluted EPS (in shares) | shares		453,635
Ordinary shares
Class of Stock [Line Items]
Common stock, par value (in GBP per share) | (per share)	$ 0.50	$ 0.50	£ 0.50	£ 0.50

Net sales - Disaggregation of R

Net sales - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 85.2	$ 88.4
General industrial
Disaggregation of Revenue [Line Items]
Net sales	27.5	33.9
Transportation
Disaggregation of Revenue [Line Items]
Net sales	26.7	24.1
Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	31	30.4
Gas Cylinders segment
Disaggregation of Revenue [Line Items]
Net sales	36.2	37.2
Gas Cylinders segment | General industrial
Disaggregation of Revenue [Line Items]
Net sales	5.8	6.2
Gas Cylinders segment | Transportation
Disaggregation of Revenue [Line Items]
Net sales	14.9	12.9
Gas Cylinders segment | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	15.5	18.1
Elektron segment
Disaggregation of Revenue [Line Items]
Net sales	49	51.2
Elektron segment | General industrial
Disaggregation of Revenue [Line Items]
Net sales	21.7	27.7
Elektron segment | Transportation
Disaggregation of Revenue [Line Items]
Net sales	11.8	11.2
Elektron segment | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	$ 15.5	$ 12.3

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1.4	$ 2.8
Gas Cylinders segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.5	2.6
Elektron segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.9	$ 0
Asset impairment charges	$ 0.1

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 1.4	$ 2.8
Gas Cylinders segment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0.5	2.6
Elektron segment
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0.9	0
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	$ 0.2

Restructuring - Restructuring R

Restructuring - Restructuring Reserve (Details) $ in Millions	3 Months Ended
	Mar. 28, 2021USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 9
Costs incurred	1.4
Cash payments and other	(1.1)
Ending balance	$ 9.3

Acquisition and disposal rela_3

Acquisition and disposal related costs - Provisional acquired balance sheet (Details) $ in Millions	Mar. 15, 2021USD ($)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Accounts and other receivables	$ 4.8
Inventories	6.7
Property, plant and equipment	9.5
Accounts payable	1.6
Accrued expenses	0.1
Net assets acquired	$ 19.3

Acquisition and disposal rela_4

Acquisition and disposal related costs - Narratives (Details) - USD ($) $ in Millions	Mar. 15, 2021	Mar. 28, 2021	Mar. 29, 2020
Business Combinations [Abstract]
Payment for business acquisition	$ 19.3
Acquisition-related costs		$ 0.2	$ 0.2
Acquisition-related costs			0.2
Business combination, contingent consideration deferred			$ 0.1

Other charges (Details)

Other charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Other Income and Expenses [Abstract]
Other charges	$ (1.1)	$ 0
Other additional charges	$ 0

Supplementary balance sheet i_3

Supplementary balance sheet information - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Accounts and other receivables
Trade receivables	$ 48.8	$ 33.6
Related parties	0.2	0.2
Prepayments and accrued income	4.2	5.5
Derivative financial instruments	0.3	0.2
Deferred consideration	0.2	0.2
Other receivables	2.3	3.4
Total accounts and other receivables	56	43.1
Inventories
Raw materials and supplies	30.6	26.2
Work-in-process	24	19.7
Finished goods	21	22.9
Total inventories	75.6	68.8
Other current assets
Income tax receivable	1.1	1.5
Total other current assets	1.1	1.5
Property, plant and equipment, net
Total property, plant and equipment	339.8	328.3
Accumulated depreciation and impairment	(245.9)	(242.3)
Total property, plant and equipment, net	93.9	86
Other current liabilities
Contingent liabilities	11.5	10.1
Derivative financial instruments	0.3	0.4
Operating lease liability	2	2.9
Other current liabilities	0.2	0.1
Total other current liabilities	14	13.5
Other non-current liabilities
Contingent liabilities	1	1
Operating lease liability	7.2	6.7
Total other non-current liabilities	8.2	7.7
Land, buildings and leasehold improvements
Property, plant and equipment, net
Total property, plant and equipment	65.5	65.2
Machinery and equipment
Property, plant and equipment, net
Total property, plant and equipment	269.2	255.3
Construction in progress
Property, plant and equipment, net
Total property, plant and equipment	$ 5.1	$ 7.8

Supplementary balance sheet i_4

Supplementary balance sheet information - Schedule of Current Held-for-Sale Assets and Liabilities (Details) $ in Millions	Mar. 28, 2021USD ($)building	Dec. 31, 2020USD ($)building
Held-for-sale assets
Right-of-use-assets from operating leases	$ 2.9	$ 3.1
Held-for-sale assets	20.7	36
Held-for-sale liabilities
Accrued liabilities	1.1	1.5
Other current liabilities	3.3	5.6
Held-for-sale liabilities	7.3	11.4
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount of property disposed	5.1	11.6
Held-for-sale assets
Property, plant and equipment	5.1	11.6
Inventory	6.3	12.6
Accounts and other receivables	6.4	8.7
Held-for-sale assets	20.7	36
Held-for-sale liabilities
Accounts payable	2.9	4.3
Held-for-sale liabilities	$ 7.3	$ 11.4
Held-for-sale | Building | Elektron segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties to be disposed | building	1	1
Amount of property disposed	$ 3.7	$ 3.7
Held-for-sale assets
Property, plant and equipment	$ 3.7	$ 3.7

Goodwill and other identifiab_3

Goodwill and other identifiable intangible assets - Schedule of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 28, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 70.2
Exchange difference	0.3
Ending balance	70.5
Gas Cylinders
Goodwill [Roll Forward]
Beginning balance	27.9
Exchange difference	0.2
Ending balance	28.1
Elektron
Goodwill [Roll Forward]
Beginning balance	42.3
Exchange difference	0.1
Ending balance	$ 42.4

Goodwill and other identifiab_4

Goodwill and other identifiable intangible assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets
Gross	$ 21.8	$ 21.7
Accumulated amortization	(9.1)	(8.9)
Net	12.7	12.8
Customer relationships
Finite-Lived Intangible Assets
Gross	13.4	13.4
Accumulated amortization	(5.3)	(5.2)
Net	8.1	8.2
Technology and trading related
Finite-Lived Intangible Assets
Gross	8.4	8.3
Accumulated amortization	(3.8)	(3.7)
Net	$ 4.6	$ 4.6

Goodwill and other identifiab_5

Goodwill and other identifiable intangible assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 0.2	$ 0.2
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2021	0.5
2022	0.7
2023	0.7
2024	0.7
2025	0.7
2026	$ 0.7

Debt - Schedule of Debt Outstan

Debt - Schedule of Debt Outstanding (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross	$ 73.6
Unamortized debt issuance costs	(0.6)	$ (0.7)
Total debt	73	53.4
Less current portion	0	0
Long-term debt	73	53.4
Loan Notes | 4.88% Loan Notes due 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 25	25
Debt stated interest rate	4.88%
Loan Notes | 4.94% Loan Notes due 2026
Debt Instrument [Line Items]
Long-term debt, gross	$ 25	25
Debt stated interest rate	4.94%
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 23.6	$ 4.1

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amount drew down during the period, on line of credit	$ 19.5
Long-term debt, gross	73.6
Borrowing capacity	$ 4
Revolving credit facility
Debt Instrument [Line Items]
Debt, weighted average interest rate	2.10%	2.19%
Long-term debt, gross	$ 23.6	$ 4.1
Borrowing capacity	$ 126.4	$ 145.9

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Company's Debt (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021	$ 0
2022	23.6
2023	25
2024	0
2025	0
2026	25
Thereafter	0
Total	73.6
Loan Notes | 4.88% Loan Notes due 2023
Debt Instrument [Line Items]
2021	0
2022	0
2023	25
2024	0
2025	0
2026	0
Thereafter	0
Total	25	$ 25
Loan Notes | 4.94% Loan Notes due 2026
Debt Instrument [Line Items]
2021	0
2022	0
2023	0
2024	0
2025	0
2026	25
Thereafter	0
Total	25	25
Revolving credit facility
Debt Instrument [Line Items]
2021	0
2022	23.6
2023	0
2024	0
2025	0
2026	0
Thereafter	0
Total	$ 23.6	$ 4.1

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss	$ (1.6)	$ (1)
Net gain on disposition	7.5	0
Superform Aluminum Superplastic
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration received	21
Net assets sold	(11.5)
Gross gain on disposition	9.5
Tax expense	(2)
Net gain on disposition	7.5
Discontinued Operations | Superform Aluminum Superplastic
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	9.7	15.4
Cost of goods sold	(10.1)	(15)
Gross profit	(0.4)	0.4
Selling, general and administrative expenses	(1.4)	(1.4)
Operating loss	(1.8)	(1)
Tax credit	(0.2)	0
Net loss	$ (1.6)	$ (1)

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 28, 2021USD ($)building	Mar. 29, 2020USD ($)	Dec. 31, 2020USD ($)building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of discontinued operations, net of tax	$ 7.5	$ 0
Superform Aluminum Superplastic
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of discontinued operations, net of tax	7.5
Tax expense	2
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment	$ 5.1		$ 11.6
Held-for-sale | Building | Elektron segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties to be disposed | building	1		1
Property, plant and equipment	$ 3.7		$ 3.7

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Right-of-use-assets from operating leases	$ 2.9	$ 3.1
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accrued liabilities	1.1	1.5
Other current liabilities	3.3	5.6
Current liabilities held-for-sale	7.3	11.4
Discontinued Operations | Superform Aluminum Superplastic
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Property, plant and equipment	1.4	7.9
Right-of-use-assets from operating leases	2.9	3.1
Inventory	6.3	12.6
Accounts and other receivables	6.4	8.7
Held-for-sale assets	17	32.3
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accounts payable	2.9	4.3
Accrued liabilities	1.1	1.5
Other current liabilities	3.3	5.6
Current liabilities held-for-sale	$ 7.3	$ 11.4

Discontinued Operations - Cash

Discontinued Operations - Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Discontinued Operations and Disposal Groups [Abstract]
Depreciation	$ 0.2	$ 0.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	21.10%	19.10%

Share Plans - Schedule of Share

Share Plans - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Share-based Payment Arrangement [Abstract]
Total share-based compensation charges	$ 0.5	$ 0.5

Share Plans - Additional Inform

Share Plans - Additional Information (Details)	3 Months Ended
	Mar. 28, 2021$ / sharesshares
Share-based Payment Arrangement [Abstract]
Granted during the year (in shares)	110,000
Granted during the year (in USD per share) | $ / shares	$ 21.14
Granted during the year, based on total shareholder return (in shares)	45,000

Share Plans - Share Options Fai

Share Plans - Share Options Fair Value Assumptions (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range (%), minimum	36.48%	36.48%
Expected volatility range (%), maximum	56.28%	56.28%
Risk-free interest rate (%), minimum	0.18%	0.18%
Risk-free interest rate (%), maximum	0.49%	0.49%
Forfeiture rate (%)	500.00%	500.00%
Weighted average exercise price (in USD per share)	$ 1	$ 1
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	3.39%	3.39%
Expected life of share options range (years)	6 months	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	4.09%	4.09%
Expected life of share options range (years)	4 years	4 years

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Dividend Paid and Proposed (Details) - USD ($) $ / shares in Units, $ in Millions	May 05, 2021	Feb. 04, 2021	May 06, 2020	Feb. 05, 2020	Mar. 28, 2021	Mar. 29, 2020
Class of Stock [Line Items]
Dividends paid		$ 3.4	$ 3.4	$ 3.4	$ 3.4	$ 3.4
Dividends paid (in USD per share)		$ 0.125	$ 0.125	$ 0.125
Subsequent Event
Class of Stock [Line Items]
Dividends paid	$ 3.4
Dividends paid (in USD per share)	$ 0.125

Segmental Information - Additio

Segmental Information - Additional Information (Details)	3 Months Ended
	Mar. 28, 2021divisionsegment
Segment Reporting [Abstract]
Number of operating segments	2
Number of operating divisions | division	4
Number of reportable segments	2

Segmental Information - Financi

Segmental Information - Financial information by reportable segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 85.2	$ 88.4
Adjusted EBITDA	17.7	15.8
Depreciation and amortization	3.4	3.3
Restructuring charges	1.4	2.8
Total assets	388.4	346.4	$ 346.4
Capital expenditures	1.5	1.6
Discontinued Operations
Segment Reporting Information [Line Items]
Total assets	17	32.3
Capital expenditures	0	0
Gas Cylinders segment
Segment Reporting Information [Line Items]
Net sales	36.2	37.2
Adjusted EBITDA	6	4.2
Depreciation and amortization	0.9	0.9
Restructuring charges	0.5	2.6
Elektron segment
Segment Reporting Information [Line Items]
Net sales	49	51.2
Adjusted EBITDA	11.7	11.6
Depreciation and amortization	2.5	2.4
Restructuring charges	0.9	0
Other
Segment Reporting Information [Line Items]
Depreciation and amortization	0	0
Restructuring charges	0	0.2
Operating Segments | Gas Cylinders segment
Segment Reporting Information [Line Items]
Total assets	122.5	99.7
Capital expenditures	0.3	0.5
Operating Segments | Elektron segment
Segment Reporting Information [Line Items]
Total assets	197.2	189.7
Capital expenditures	1.2	1.1
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total assets	51.7	24.7
Capital expenditures	$ 0	$ 0

Segmental Information - Geograp

Segmental Information - Geographic information by region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 93.9		$ 86
Net sales	85.2	$ 88.4
Top five countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	62.6	66.6
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	52.7		44.3
Net sales	46.7	50.3
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	36.2		36.6
Net sales	5.3	5.4
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3.7	3.5
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3.6	2.8
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3.3	4.6
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1.1		1.1
Net sales	7.1	7
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	0.3		0.3
Net sales	11	10.4
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	3.6		$ 3.7
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.5	$ 4.4
Geographic Concentration Risk | Revenue from Contract with Customer | Top five countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	73.50%	75.30%
Geographic Concentration Risk | Revenue from Contract with Customer | United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	54.90%	56.80%
Geographic Concentration Risk | Revenue from Contract with Customer | United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	6.20%	6.10%
Geographic Concentration Risk | Revenue from Contract with Customer | Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.30%	4.00%
Geographic Concentration Risk | Revenue from Contract with Customer | Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.20%	3.20%
Geographic Concentration Risk | Revenue from Contract with Customer | France
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	3.90%	5.20%
Geographic Concentration Risk | Revenue from Contract with Customer | Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	8.30%	7.90%
Geographic Concentration Risk | Revenue from Contract with Customer | Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	12.90%	11.80%
Geographic Concentration Risk | Revenue from Contract with Customer | Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	5.30%	5.00%

Segmental Information - Reconci

Segmental Information - Reconciliation of consolidated segment income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Segment Reporting [Abstract]
Adjusted EBITDA	$ 17.7	$ 15.8
Other share-based compensation charges	(0.5)	(0.5)
Depreciation and amortization	(3.4)	(3.3)
Restructuring charges	(1.4)	(2.8)
Acquisition-related costs	(0.2)	(0.2)
Other charges	(1.1)	0
Defined benefits pension pension credit	0.6	1.1
Interest expense, net	(0.8)	(1.2)
Provision for income taxes	(2.3)	(1.7)
Net income from continuing operations	$ 8.6	$ 7.2

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	1 Months Ended		3 Months Ended		12 Months Ended
	Nov. 30, 2020lawsuits	Feb. 28, 2014people	Mar. 28, 2021USD ($)facility	Mar. 28, 2021GBP (£)facility	Dec. 31, 2020USD ($)facility	Dec. 31, 2020GBP (£)facility	Mar. 28, 2021GBP (£)	Dec. 31, 2020GBP (£)
Loss Contingencies [Line Items]
Long-term debt, gross			$ 73,600,000
Number of bonding facilities for bank guarantees | facility			2	2
Amount drawn/utilized			$ 19,500,000
Borrowing capacity			4,000,000
Credit facility, amount drawn			0		$ 0
Individuals with minor injuries | people		3
Number of lawsuits | lawsuits	3
Committed Banking Facilities
Loss Contingencies [Line Items]
Debt maximum borrowing capacity			150,000,000		150,000,000
Revolving credit facility
Loss Contingencies [Line Items]
Long-term debt, gross			23,600,000		4,100,000
Borrowing capacity			126,400,000		145,900,000
Letter of Credit
Loss Contingencies [Line Items]
Debt maximum borrowing capacity			1,400,000		$ 1,300,000		£ 1,000,000	£ 1,000,000
United Kingdom, Pounds
Loss Contingencies [Line Items]
Number of bonding facilities for bank guarantees | facility					1	1
United Kingdom, Pounds | Bonding Facility For Bank Guarantees
Loss Contingencies [Line Items]
Debt maximum borrowing capacity			6,200,000		$ 6,100,000		£ 4,500,000
Amount drawn/utilized			$ 1,400,000	£ 1,000,000	1,400,000	£ 1,000,000
United States of America, Dollars
Loss Contingencies [Line Items]
Number of bonding facilities for bank guarantees | facility			1	1
United States of America, Dollars | Bonding Facility For Bank Guarantees
Loss Contingencies [Line Items]
Debt maximum borrowing capacity			$ 1,500,000		1,500,000
Amount drawn/utilized			$ 800,000		$ 800,000