Luxfer (LXFR) 10-Q 25 Oct 22 2022 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 25, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 25, 2022
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	8989 North Port Washington Road, Suite 211
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53217
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 (in shares)	27,208,641
Entity Central Index Key	0001096056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Address, Country	GB

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Income Statement [Abstract]
Net sales		$ 100.2	$ 91.2	$ 306.7	$ 275.4
Cost of goods sold		(77)	(70.1)	(233.6)	(203.2)
Gross profit		23.2	21.1	73.1	72.2
Selling, general and administrative expenses		(10.3)	(10.6)	(32.5)	(33.9)
Research and development		(1)	(1.3)	(3.5)	(2.9)
Restructuring charges		(0.3)	(0.5)	(2)	(2.1)
Acquisition and disposal related costs		0	(0.6)	(0.3)	(1.5)
Other charges		0	0	0	(1.1)
Operating income		11.6	8.1	34.8	30.7
Interest expense		(1)	(0.8)	(2.7)	(2.4)
Defined benefit pension credit		0.2	0.6	0.9	1.8
Income before income taxes		10.8	7.9	33	30.1
Provision for income taxes		(2.3)	(1.9)	(7.2)	(3.6)
Net income from continuing operations		8.5	6	25.8	26.5
Net loss from discontinued operations, net of tax		(0.5)	(0.7)	(0.9)	(2.8)
(Loss) / gain on disposition of discontinued operations, net of tax		0	(0.5)	0	6.6
Net (loss) / income from discontinued operations		(0.5)	(1.2)	(0.9)	3.8
Net income		$ 8	$ 4.8	$ 24.9	$ 30.3
Earnings / (loss) per share
Basic from continuing operations (usd per share)	[1]	$ 0.31	$ 0.22	$ 0.94	$ 0.96
Basic from discontinued operations (usd per share)	[1],[2]	(0.02)	(0.04)	(0.03)	0.14
Basic (usd per share)	[1]	0.29	0.17	0.91	1.09
Diluted from continuing operations (usd per share)	[1]	0.31	0.21	0.93	0.94
Diluted from discontinued operations (usd per share)	[1],[2]	(0.02)	(0.04)	(0.03)	0.14
Diluted (usd per share)	[1]	$ 0.29	$ 0.17	$ 0.90	$ 1.08
Weighted average ordinary shares outstanding
Basic (in shares)		27,295,862	27,722,472	27,403,844	27,718,874
Diluted (in shares)		27,525,314	28,033,732	27,652,886	28,072,155
[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.[2] The loss per share for discontinued operations in the Third Quarter of 2022 and 2021 and year-to-date of 2022 has not been diluted, since the incremental shares included in the weighted-average number of shares outstanding would have been anti-dilutive.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 8	$ 4.8	$ 24.9	$ 30.3
Other comprehensive (loss) / income
Net change in foreign currency translation adjustment, net of tax	(12.5)	(2.1)	(22.5)	(0.1)
Pension and post-retirement actuarial gains, net of $0.1, $0.2, $0.3 and $0.5 tax, respectively	0.3	0.7	1	2.1
Other comprehensive (loss) / income, net of tax	(12.2)	(1.4)	(21.5)	2
Total comprehensive (loss) / income	$ (4.2)	$ 3.4	$ 3.4	$ 32.3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Statement of Comprehensive Income [Abstract]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ 0.1	$ 0.2	$ 0.3	$ 0.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 11.2	$ 6.2
Restricted cash	0.3	0.2
Accounts and other receivables, net of allowances of $0.7 and $0.8, respectively	66.1	57.8
Inventories	111.6	90.5
Current assets held-for-sale	9.1	8.5
Total current assets	198.3	163.2
Non-current assets
Property, plant and equipment, net	75	87.5
Right-of-use assets from operating leases	22.9	12.6
Goodwill	62.5	69.7
Intangibles, net	12.4	13.7
Deferred tax assets	7.1	8
Investments and loans to joint ventures and other affiliates	0.3	0.4
Pensions and other retirement benefits	13.9	13.7
Total assets	392.4	368.8
Current liabilities
Short-term debt	25	0
Accounts payable	27.9	31.7
Accrued liabilities	32.6	28.2
Taxes on income	7.8	3
Current liabilities held-for-sale	4.9	1.4
Other current liabilities	12.6	19.6
Total current liabilities	110.8	83.9
Non-current liabilities
Long-term debt	61.8	59.6
Pensions and other retirement benefits	2.3	1.9
Deferred tax liabilities	2.7	2.7
Other non-current liabilities	19.5	11.6
Total liabilities	197.1	159.7
Shareholders' equity
Additional paid-in capital	220.6	70.9
Treasury shares	(16.2)	(9.6)
Own shares held by ESOP	(0.9)	(1.1)
Retained earnings	121.8	107.5
Accumulated other comprehensive loss	(156.5)	(135)
Total shareholders' equity	195.3	209.1
Total liabilities and shareholders' equity	392.4	368.8
Ordinary shares
Shareholders' equity
Common stock	26.5	26.5
Deferred shares
Shareholders' equity
Common stock	$ 0	$ 149.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) $ in Millions	Sep. 25, 2022 USD ($) $ / shares shares	Sep. 25, 2022 £ / shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 £ / shares
Accounts and other receivables, net of allowance | $	$ 0.7		$ 0.8
Ordinary shares
Common stock, par value (in GBP per share) | (per share)	$ 0.50	£ 0.50		£ 0.50
Common stock, shares authorized (in shares)	40,000,000		40,000,000
Common stock, shares issued (in shares)	28,944,000
Common stock, shares outstanding (in shares)	28,944,000
Deferred shares
Common stock, par value (in GBP per share) | £ / shares		£ 0.0001		£ 0.0001
Common stock, shares authorized (in shares)	761,835,318,444		761,835,318,444
Common stock, shares issued (in shares)	761,835,318,444		761,835,318,444
Common stock, shares outstanding (in shares)	761,835,318,444		761,835,318,444

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021
Operating activities
Net income	$ 24.9	$ 30.3
Net loss / (income) from discontinued operations	0.9	(3.8)
Net income from continuing operations	25.8	26.5
Adjustments to reconcile net income to net cash (used) / provided by operating activities
Depreciation	9.8	10.5
Amortization of purchased intangible assets	0.6	0.7
Amortization of debt issuance costs	0.4	0.3
Share-based compensation charges	1.8	2.2
Deferred income taxes	0.5	(2.2)
Gain on disposal of property, plant and equipment	(0.2)	0
Defined benefit pension credit	(0.9)	(1.8)
Defined benefit pension contributions	0	(4.6)
Changes in assets and liabilities
Accounts and other receivables	(13.6)	(10.2)
Inventories	(29.6)	(5.4)
Current assets held-for-sale	(3.8)	(1.6)
Other current assets	0	0.4
Accounts payable	3.5	9.6
Accrued liabilities	5.5	8.6
Current liabilities held-for-sale	3.5	(1)
Other current liabilities	(1.9)	0.7
Other non-current assets and liabilities	(4.6)	1.4
Net cash (used) / provided by operating activities - continuing	(3.2)	34.1
Net cash provided by operating activities - discontinued	0	0
Net cash (used) / provided by operating activities	(3.2)	34.1
Investing activities
Capital expenditures	(5.2)	(5.6)
Proceeds from sale of property, plant and equipment	3.7	0
Proceeds from sale of businesses and other	0	23.7
Acquisitions, net of cash acquired	0	(19.3)
Net cash used by investing activities - continuing	(1.5)	(1.2)
Net cash used by investing activities - discontinued	0	0
Net cash used by investing activities	(1.5)	(1.2)
Financing activities
Net drawdown / (repayment) of long-term borrowings	31.7	(4.4)
Repurchase of deferred shares	(0.1)	0
Repurchase of own shares	(6.9)	(2.8)
Share-based compensation cash paid	(1.4)	(1.9)
Dividends paid	(10.6)	(10.2)
Net cash provided / (used) by financing activities	12.7	(19.3)
Effect of exchange rate changes on cash and cash equivalents	(2.9)	0.1
Net increase	5.1	13.7
Cash, cash equivalents and restricted cash; beginning of year	6.4	1.5
Cash, cash equivalents and restricted cash; end of the Third Quarter	11.5	15.2
Supplemental cash flow information:
Interest payments	2.8	2.5
Income tax payments, net	$ 2.2	$ 5.2

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 shares Common stock	Deferred shares	Deferred shares Common stock	Deferred shares Additional paid-in capital
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
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 treasury shares to satisfy share based compensation	(1.3)	(1.4)		$ 0.1
Utilization of treasury shares to satisfy share based compensation (in shares)				0.1
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)	(0.9)
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30.3
Other comprehensive (loss) / income, net of tax	2
Ending balance at Sep. 26, 2021	186.7	69.5	$ (5.5)	$ (1.2)	111.3	(163.8)	26.5		149.9
Ending balance (in shares) at Sep. 26, 2021			(0.5)	(0.8)
Beginning balance at Mar. 28, 2021	178.9	69.7	$ (4)	$ (1.3)	102.3	(164.3)	26.6		149.9
Beginning balance (in shares) at Mar. 28, 2021			(0.4)	(0.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11				11
Other comprehensive (loss) / income, net of tax	1.9					1.9
Dividends declared	(3.4)				(3.4)
Share-based compensation	0.9	0.9
Utilization of shares from ESOP to satisfy share based compensation	(0.2)	(0.3)		$ 0.1
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0.1
Cancellation of deferred/ordinary share capital	(0.9)	(0.8)					(0.1)
Ending balance at Jun. 27, 2021	188.2	69.5	$ (4)	$ (1.2)	109.9	(162.4)	26.5		149.9
Ending balance (in shares) at Jun. 27, 2021			(0.4)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4.8				4.8
Shares sold from ESOP	(0.1)	(0.1)
Other comprehensive (loss) / income, net of tax	(1.4)					(1.4)
Dividends declared	(3.4)				(3.4)
Share-based compensation	0.8	0.8
Share buyback/Purchase of own shares	(1.5)		$ (1.5)
Utilization of treasury shares to satisfy share based compensation	(0.3)	(0.3)
Purchase of own shares (in shares)			(0.1)
Cancellation of deferred/ordinary share capital	(0.4)	(0.4)
Ending balance at Sep. 26, 2021	186.7	69.5	$ (5.5)	$ (1.2)	111.3	(163.8)	26.5		149.9
Ending balance (in shares) at Sep. 26, 2021			(0.5)	(0.8)
Beginning balance at Dec. 31, 2021	209.1	70.9	$ (9.6)	$ (1.1)	107.5	(135)	26.5		149.9
Beginning balance (in shares) at Dec. 31, 2021			(0.6)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7.6				7.6
Other comprehensive (loss) / income, net of tax	(1.4)					(1.4)
Dividends declared	(7)				(7)
Share-based compensation	0.2	0.2
Share buyback (in shares)			(0.1)
Share buyback/Purchase of own shares	(1.5)		$ (1.5)
Utilization of treasury shares to satisfy share based compensation	(0.4)	(0.4)
Ending balance at Mar. 27, 2022	206.6	70.7	$ (11.1)	$ (1.1)	108.1	(136.4)	26.5		149.9
Ending balance (in shares) at Mar. 27, 2022			(0.7)	(0.8)
Beginning balance at Dec. 31, 2021	209.1	70.9	$ (9.6)	$ (1.1)	107.5	(135)	26.5		149.9
Beginning balance (in shares) at Dec. 31, 2021			(0.6)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24.9
Other comprehensive (loss) / income, net of tax	(21.5)
Ending balance at Sep. 25, 2022	195.3	220.6	$ (16.2)	$ (0.9)	121.8	(156.5)	26.5		0
Ending balance (in shares) at Sep. 25, 2022			(1)	(0.7)
Beginning balance at Mar. 27, 2022	206.6	70.7	$ (11.1)	$ (1.1)	108.1	(136.4)	26.5		149.9
Beginning balance (in shares) at Mar. 27, 2022			(0.7)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9.3				9.3
Other comprehensive (loss) / income, net of tax	(7.9)					(7.9)
Share-based compensation	0.7	0.7
Share buyback (in shares)			(0.1)
Share buyback/Purchase of own shares	(2.2)		$ (2.2)
Utilization of treasury shares to satisfy share based compensation	0.4	0.1	0.3
Utilization of shares from ESOP to satisfy share based compensation	(1.4)	(1.5)		$ 0.1
Ending balance at Jun. 26, 2022	205.5	70	$ (13)	$ (1)	117.4	(144.3)	26.5		$ 149.9
Ending balance (in shares) at Jun. 26, 2022			(0.8)	(0.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8				8
Other comprehensive (loss) / income, net of tax	(12.2)					(12.2)
Dividends declared	(3.6)				(3.6)
Share-based compensation	0.9	0.9
Share buyback (in shares)			(0.2)
Share buyback/Purchase of own shares	(3.2)		$ (3.2)
Utilization of shares from ESOP to satisfy share based compensation	0	(0.1)		$ 0.1
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0.1
Cancellation of deferred/ordinary share capital (in shares)									(149.9)
Cancellation of deferred/ordinary share capital								$ (0.1)		$ 149.8
Ending balance at Sep. 25, 2022	$ 195.3	$ 220.6	$ (16.2)	$ (0.9)	$ 121.8	$ (156.5)	$ 26.5		$ 0
Ending balance (in shares) at Sep. 25, 2022			(1)	(0.7)

Basis of Presentation and Respo

Basis of Presentation and Responsibility for interim Financial Statements	9 Months Ended
	Sep. 25, 2022
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 condensed consolidated 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, 2021. 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 only of a normal recurring nature, necessary for the fair statement 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 Third Quarter 2022, ended on September 25, 2022, and the Third Quarter 2021, ended on September 26, 2021. Accounting standards issued but not yet effective None that will be material to the Company.

Earnings per share

Earnings per share	9 Months Ended
	Sep. 25, 2022
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share are computed by dividing net income or loss 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 or loss 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: Third Quarter Year-to-date In millions except share and per-share data 2022 2021 2022 2021 Basic earnings: Net income from continuing operations $ 8.5 $ 6.0 $ 25.8 $ 26.5 Net (loss) / income from discontinued operations (0.5) (1.2) (0.9) 3.8 Net income $ 8.0 $ 4.8 $ 24.9 $ 30.3 Weighted average number of £0.50 ordinary shares: For basic earnings per share 27,295,862 27,722,472 27,403,844 27,718,874 Dilutive effect of potential common stock 229,452 311,260 249,042 353,281 For diluted earnings per share 27,525,314 28,033,732 27,652,886 28,072,155 Earnings / (loss) per share using weighted average number of ordinary shares outstanding (1) : Basic earnings per ordinary share for continuing operations $ 0.31 $ 0.22 $ 0.94 $ 0.96 Basic (loss) / earnings per ordinary share for discontinued operations (0.02) (0.04) (0.03) 0.14 Basic earnings per ordinary share $ 0.29 $ 0.17 $ 0.91 $ 1.09 Diluted earnings per ordinary share for continuing operations $ 0.31 $ 0.21 $ 0.93 $ 0.94 Diluted (loss) / earnings per ordinary share for discontinued operations (0.02) (0.04) (0.03) 0.14 Diluted earnings per ordinary share $ 0.29 $ 0.17 $ 0.90 $ 1.08 (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 third quarter of 2022 and 2021 and year-to-date 2022, 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. .

Net Sales

Net Sales	9 Months Ended
	Sep. 25, 2022
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales Disaggregated sales disclosures for the quarter and year-to-date ended September 25, 2022, and September 26, 2021, are included below and in Note 14, Segmental Information. Third Quarter 2022 2021 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 7.0 $ 31.0 $ 38.0 $ 7.6 $ 21.6 $ 29.2 Transportation 17.9 11.3 29.2 19.7 11.4 31.1 Defense, First Response & Healthcare 18.5 14.5 33.0 18.3 12.6 30.9 $ 43.4 $ 56.8 $ 100.2 $ 45.6 $ 45.6 $ 91.2 Year-to-date 2022 2021 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 23.7 $ 90.1 $ 113.8 $ 23.3 $ 69.0 $ 92.3 Transportation 53.9 40.4 94.3 50.7 35.1 85.8 Defense, First Response & Healthcare 54.3 44.3 98.6 54.3 43.0 97.3 $ 131.9 $ 174.8 $ 306.7 $ 128.3 $ 147.1 $ 275.4

Restructuring

Restructuring	9 Months Ended
	Sep. 25, 2022
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The $0.3 million (2021: $0.5 million) and $2.0 million restructuring charges (2021: $2.1 million) in the third quarter and first nine months of 2022, respectively, included $0.3 million (2021: $0.3 million) and $1.8 million (2021: $1.0 million), respectively, of further costs associated with the closure of Luxfer Gas Cylinders France, and was largely legal and professional fees. In addition $0.2 million of costs were incurred in the second quarter of 2022 relating to one-time employee termination benefits in the Elektron division in relation to the consolidation of production facilities in the Magnesium Powders operations. The first nine months of 2021 also includes $0.9 million primarily of one-time employee termination benefits in the Elektron division, largely in relation to the divestiture of our small Luxfer Magtech production facility in Ontario, Canada. Restructuring-related costs by reportable segment were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Severance and related costs Gas Cylinders $ 0.3 $ 0.5 $ 1.8 $ 1.1 Elektron — — 0.2 1.0 Total restructuring charges $ 0.3 $ 0.5 $ 2.0 $ 2.1 4. Restructuring (continued) Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2022 Balance at January 1, $ 11.7 Costs incurred 2.0 Cash payments and other (9.8) Balance at September 25, $ 3.9

Acquisition and disposal relate

Acquisition and disposal related costs	9 Months Ended
	Sep. 25, 2022
Business Combinations [Abstract]
Acquisition and disposal related costs	Acquisition and disposal 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. Acquisition-related costs of $0.3 million in the first nine months of 2022 and $1.5 million in the first nine months of 2021 represent transitional costs and professional fees incurred in relation to the SCI acquisition.

Other charges

Other charges	9 Months Ended
	Sep. 25, 2022
Other Income and Expenses [Abstract]
Other charges	Other chargesThere were no other charges in the first nine months of 2022. Other charges of $1.1 million in the first nine months 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.

Supplementary balance sheet inf

Supplementary balance sheet information	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary balance sheet information	Supplementary balance sheet information September 25, December 31, In millions 2022 2021 Accounts and other receivables Trade receivables $ 54.0 $ 45.8 Related parties 0.1 0.1 Prepayments and accrued income 6.5 8.5 Derivative financial instruments 0.7 0.1 Deferred consideration 1.0 1.0 Other receivables 3.8 2.3 Total accounts and other receivables $ 66.1 $ 57.8 Inventories Raw materials and supplies $ 44.1 $ 39.3 Work-in-process 41.8 26.7 Finished goods 25.7 24.5 Total inventories $ 111.6 $ 90.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 56.8 $ 64.6 Machinery and equipment 241.1 266.3 Construction in progress 8.8 8.4 Total property, plant and equipment 306.7 339.3 Accumulated depreciation and impairment (231.7) (251.8) Total property, plant and equipment, net $ 75.0 $ 87.5 Other current liabilities Restructuring provision $ 3.9 $ 11.7 Short term provision 1.0 0.2 Derivative financial instruments 0.7 0.1 Operating lease liability 4.5 3.0 Advance payments 2.5 4.6 Total other current liabilities $ 12.6 $ 19.6 Other non-current liabilities Contingent liabilities $ 0.6 $ 1.8 Operating lease liability 18.8 9.8 Other non-current liabilities 0.1 — Total other non-current liabilities $ 19.5 $ 11.6

Goodwill and other identifiable

Goodwill and other identifiable intangible assets	9 Months Ended
	Sep. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other identifiable intangible assets	Goodwill and other identifiable intangible assets Changes in goodwill during the first nine months ended September 25, 2022, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2022 $ 27.6 $ 42.1 $ 69.7 Exchange difference (4.5) (2.7) (7.2) Net balance at September 25, 2022 $ 23.1 $ 39.4 $ 62.5 Accumulated goodwill impairment losses in relation to continuing activities were $8.0 million as of September 25, 2022 and December 31, 2021. Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2022 $ 15.2 $ 8.2 $ 23.4 Exchange movements — (1.4) (1.4) At September 25, 2022 $ 15.2 $ 6.8 $ 22.0 Accumulated amortization: At January 1, 2022 $ 5.7 $ 4.0 $ 9.7 Provided during the period 0.4 0.2 0.6 Exchange movements — (0.7) (0.7) At September 25, 2022 $ 6.1 $ 3.5 $ 9.6 Net book values: At January 1, 2022 $ 9.5 $ 4.2 $ 13.7 At September 25, 2022 $ 9.1 $ 3.3 $ 12.4 Identifiable intangible asset amortization expense was $0.6 million and $0.7 million for the first nine months of 2022 and 2021 respectively. Intangible asset amortization expense in 2022 and each of the following four years is expected to be approximately $0.8 million.

Debt

Debt	9 Months Ended
	Sep. 25, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was as follows: In millions September 25, 2022 December 31, 2021 4.88% Loan Notes due 2023 $ 25.0 $ 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 37.6 10.8 Unamortized debt issuance costs (0.8) (1.2) Total debt $ 86.8 $ 59.6 Less current portion $ (25.0) $ — Non-current debt $ 61.8 $ 59.6 The weighted-average interest rate on the revolving credit facility was 3.60% for the Third Quarter of 2022 and 1.70% for the full-year 2021. 9. Debt (continued) The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts, is as follows: In millions 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 — — — — 37.6 — 37.6 Total debt $ — $ 25.0 $ — $ — $ 62.6 $ — $ 87.6 Loan notes due and shelf facility The Note Purchase Agreement and Private Shelf Agreement requires us to maintain compliance with a minimum interest coverage ratio and a leverage ratio. 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 September 25, 2022. The Loan Notes due 2023 and 2026, the Shelf 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 nine months of 2022, we drew down net $31.7 million on the Revolving Credit Facility and the balance outstanding at September 25, 2022, was $37.6 million, and at December 31, 2021, was $10.8 million, with $62.3 million undrawn at September 25, 2022. 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 September 25, 2022.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 25, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Our Superform aluminum superplastic forming business operating in the U.S. was 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 this business as discontinued operations in the Condensed Consolidated Statements of Income for all periods presented. We expect the sale of our Superform business to occur in 2022. The assets and liabilities of the Superform business have been presented within assets held-for-sale and liabilities held-for-sale in the consolidated balance sheets for 2022 and 2021. In 2021, our Superform U.K. business was also disclosed within assets and liabilities held-for-sale. The business was sold in September 2021. Results of discontinued operations in the first nine months of 2022 and 2021 were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Net sales $ 1.8 $ 4.9 $ 5.5 $ 19.5 Cost of goods sold (1.7) (4.7) (4.9) (20.4) Gross profit/(loss) $ 0.1 $ 0.2 $ 0.6 $ (0.9) Selling, general and administrative expenses (0.1) (1.4) (0.5) (3.1) Restructuring charges — — (0.3) — Acquisition and disposal related costs (0.7) — (0.9) — Operating loss $ (0.7) $ (1.2) $ (1.1) $ (4.0) Tax credit 0.2 0.5 0.2 1.2 Net loss $ (0.5) $ (0.7) $ (0.9) $ (2.8) 10. Discontinued Operations (continued) Our U.S. aluminum gas cylinder business was sold in March 2021 for $21.0 million. During 2021, $0.8 million of working capital adjustments were made, resulting in final proceeds of $20.2 million. In the Third Quarter of 2021, the Company also recorded a $0.1 million loss on the sale of the Superform U.K business resulting in a total $0.5 million loss on disposition in the quarter and $6.6 million gain on disposition in the year. The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets September 25, December 31, In millions 2022 2021 Right-of-use-assets from operating leases $ 2.8 $ — Inventory 3.0 2.7 Accounts and other receivables 2.1 2.1 Held-for-sale assets $ 7.9 $ 4.8 Held-for-sale liabilities Accounts payable 1.1 0.5 Accrued liabilities 0.5 0.1 Other liabilities 0.2 — Lease Liabilities 3.1 0.8 Held-for-sale liabilities $ 4.9 $ 1.4 Also included within assets held-for-sale in 2022 are land and buildings valued at $1.2 million, and an additional $3.7 million in 2021, within our Elektron Segment. The depreciation and amortization, capital expenditures and significant non-cash items were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Cash flows from discontinued operating activities: Depreciation $ — $ 0.1 $ — $ 0.4 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	9 Months Ended
	Sep. 26, 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 on continuing operations for the first nine months ended September 25, 2022, was 21.8%, compared to 12.0% for the first nine months ended September 26, 2021. The 2021 rate was impacted by a $2.8 million deferred tax credit as a result of the enacted increase in the U.K. tax rate from 19% to 25% from April 2023.

Share Plans

Share Plans	9 Months Ended
	Sep. 25, 2022
Share-Based Payment Arrangement [Abstract]
Share Plans	Share Plans Total share-based compensation expense for the quarters ended September 25, 2022, and September 26, 2021, was as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Total share-based compensation charges $ 0.9 $ 0.8 $ 1.8 $ 2.2 In March 2022, 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 167,400 and the weighted average fair value of options granted in 2022 was estimated to be $17.82 per share. Also in March 2022, approximately 17,000 awards were granted based on the achievement of total shareholder return targets from the period January 1, 2019 to December 31, 2021. 50% of these awards vested immediately upon grant, with the remaining 50% vesting in March 2023. In May 2022, approximately 19,000 additional awards were granted under the Luxfer Holdings PLC Long-Term Umbrella Incentive Plan. The fair value of options granted was estimated to be $15.00 per share. In June 2022, we issued our annual share-based compensation grants under the Luxfer Holdings PLC Non-Executive Directors' Equity Incentive Plan. The total number of awards issued was 26,295 and the weighted-average fair value of options granted was estimated to be $15.50 per share. The following table illustrates the assumptions used in deriving the fair value of share options granted during 2022 and the year-ended December 31, 2021: 2022 2021 Dividend yield (%) 2.27 2.27 Expected volatility range (%) 42.80 - 59.03 42.80 - 59.03 Risk-free interest rate (%) 0.04 - 0.24 0.04 - 0.24 Expected life of share options range (years) 0.50 - 4.00 0.50 - 4.00 Forfeiture rate (%) 5.00 5.00 Weighted average exercise price ($) $1.00 $1.00 Model used Black-Scholes & Monte-Carlo 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	9 Months Ended
	Sep. 25, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Dividends paid and proposed Third Quarter Year-to-date In millions 2022 2021 2022 2021 Dividends declared and paid during the year: Interim dividend declared January 4 2021, and paid February 4, 2021 ($0.125 per ordinary share) $ — $ — $ — $ 3.4 Interim dividend declared April 5 2021, and paid May 5, 2021 ($0.125 per ordinary share) — — — 3.4 Interim dividend declared July 6 2021, and paid August 4, 2021 ($0.125 per ordinary share) — 3.4 — 3.4 Interim dividend declared January 4 2022, and paid February 2, 2022 ($0.125 per ordinary share) — — 3.4 — — Interim dividend declared March 10 2022, and paid May 4, 2022 ($0.130) per ordinary share) — — 3.6 — Interim dividend declared July 5 2022, and paid August 3, 2022 ($0.130) per ordinary share) 3.6 — 3.6 — $ 3.6 $ 3.4 $ 10.6 $ 10.2 In millions 2022 2021 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared October 5, and to be paid November 3, 2021 ($0.125 per ordinary share) $ — $ 3.4 Interim dividend declared October 4, and to be paid November 2, 2022 ($0.130 per ordinary share) 3.6 — $ 3.6 $ 3.4 In July 2022 the Company made a payment of $0.1 million to cancel the entirety of deferred shares held, $149.8 million was reallocated to additional paid-in capital to reflect the capital reduction in deferred shares.

Segmental Information

Segmental Information	9 Months Ended
	Sep. 25, 2022
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. 1 Adjusted EBITA is adjusted EBITDA less depreciation 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 Third Quarter and year-to-date ended September 25, 2022, and September 26, 2021, is included in the following summary: Net sales Adjusted EBITDA Third Quarter Year-to-date Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 43.4 $ 45.6 $ 131.9 $ 128.3 $ 3.4 $ 5.4 $ 9.8 $ 16.7 Elektron segment 56.8 45.6 174.8 147.1 12.7 8.4 39.3 32.1 Consolidated $ 100.2 $ 91.2 $ 306.7 $ 275.4 $ 16.1 $ 13.8 $ 49.1 $ 48.8 Depreciation and amortization Restructuring charges Third Quarter Year-to-date Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 1.2 $ 1.4 $ 3.8 $ 3.9 $ 0.3 $ 0.5 $ 1.8 $ 1.1 Elektron segment 2.1 2.4 6.6 7.3 — — 0.2 1.0 Consolidated $ 3.3 $ 3.8 $ 10.4 $ 11.2 $ 0.3 $ 0.5 $ 2.0 $ 2.1 14. Segmental Information (continued) Total assets Capital expenditures September 25, December 31, Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 131.0 $ 122.7 $ 0.4 $ 0.2 $ 0.8 $ 0.7 Elektron segment 213.1 206.5 2.1 1.8 4.7 4.9 Other 40.4 34.8 — — — — Discontinued operations $ 7.9 $ 4.8 $ — $ — $ — $ — Consolidated $ 392.4 $ 368.8 $ 2.5 $ 2.0 $ 5.5 $ 5.6 Property, plant and equipment, net September 25, December 31, In millions 2022 2021 U.S. $ 42.2 $ 46.9 United Kingdom 28.8 36.0 Canada 2.9 3.3 Rest of Europe 0.9 1.0 Asia Pacific 0.2 0.3 $ 75.0 $ 87.5 The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Adjusted EBITDA $ 16.1 $ 13.8 $ 49.1 $ 48.8 Other share-based compensation charges (0.9) (0.8) (1.8) (2.2) Depreciation and amortization (3.3) (3.8) (10.4) (11.2) Gain on disposal of property, plant and equipment — — 0.2 — Restructuring charges (0.3) (0.5) (2.0) (2.1) Acquisition and disposal related costs — (0.6) (0.3) (1.5) Other charges — — — (1.1) Defined benefits pension credit 0.2 0.6 0.9 1.8 Interest expense, net (1.0) (0.8) (2.7) (2.4) Net income before income taxes from continuing operations $ 10.8 $ 7.9 $ 33.0 $ 30.1 The following tables present certain geographic information by geographic region for the Third Quarter ended September 25, 2022, and September 26, 2021: Net Sales (1) Third Quarter Year-to-date 2022 2021 2022 2021 $M Percent $M Percent $M Percent $M Percent United States $ 57.0 56.8 % $ 49.4 54.2 % $ 174.0 56.8 % $ 151.8 55.1 % U.K. 4.6 4.6 % 6.5 7.1 % 16.0 5.2 % 17.5 6.4 % Germany 4.4 4.4 % 5.1 5.6 % 15.3 5.0 % 13.2 4.8 % France 1.8 1.8 % 2.6 2.9 % 6.7 2.2 % 9.3 3.4 % Italy 2.5 2.5 % 3.5 3.8 % 8.4 2.7 % 9.5 3.4 % Top five countries $ 70.3 70.1 % $ 67.1 73.6 % $ 220.4 71.9 % $ 201.3 73.1 % Rest of Europe 6.7 6.7 % 4.9 5.4 % 19.1 6.2 % 19.0 6.9 % Asia Pacific 18.3 18.3 % 13.7 15.0 % 50.7 16.5 % 38.1 13.8 % Other (2) 4.9 4.9 % 5.5 6.0 % 16.5 5.4 % 17.0 6.2 % $ 100.2 $ 91.2 $ 306.7 $ 275.4 (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	9 Months Ended
	Sep. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Committed and uncommitted banking facilities The Company had committed banking facilities of $100.0 million at September 25, 2022 and December 31, 2021. Of these committed facilities, $37.6 million was drawn at September 25, 2022 and $10.8 million at December 31, 2021. The Company also had an additional $50.0 million of uncommitted facilities through an accordion provision. The Company also has a separate (uncommitted) bonding facility for bank guarantees, denominated in GBP sterling of £0.5 million or $0.5 million (2021: £0.6 million or $0.9 million), £0.1 million ($0.1 million) and £0.1 million ($0.2 million) was utilized at September 25, 2022, and December 31, 2021, respectively. The Company has a separate (uncommitted) facility for letters of credit, which at September 25, 2022, was $2.0 million (2021: $1.5 million). $1.1 million and $0.9 million of this was utilized at September 25, 2022, and December 31, 2021, respectively. The Company also has a $4.0 million separate overdraft facility of which none was drawn at September 25, 2022 and at December 31, 2021. Contingencies In November 2018, an 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 Lakehurst, 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. 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	9 Months Ended
	Sep. 25, 2022
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)	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of Presentation and Responsibility for interim Financial Statements We prepared the accompanying unaudited condensed consolidated 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, 2021. 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 only of a normal recurring nature, necessary for the fair statement 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 Third Quarter 2022, ended on September 25, 2022, and the Third Quarter 2021, ended on September 26, 2021.
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)	9 Months Ended
	Sep. 25, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Basic and diluted earnings per share were calculated as follows: Third Quarter Year-to-date In millions except share and per-share data 2022 2021 2022 2021 Basic earnings: Net income from continuing operations $ 8.5 $ 6.0 $ 25.8 $ 26.5 Net (loss) / income from discontinued operations (0.5) (1.2) (0.9) 3.8 Net income $ 8.0 $ 4.8 $ 24.9 $ 30.3 Weighted average number of £0.50 ordinary shares: For basic earnings per share 27,295,862 27,722,472 27,403,844 27,718,874 Dilutive effect of potential common stock 229,452 311,260 249,042 353,281 For diluted earnings per share 27,525,314 28,033,732 27,652,886 28,072,155 Earnings / (loss) per share using weighted average number of ordinary shares outstanding (1) : Basic earnings per ordinary share for continuing operations $ 0.31 $ 0.22 $ 0.94 $ 0.96 Basic (loss) / earnings per ordinary share for discontinued operations (0.02) (0.04) (0.03) 0.14 Basic earnings per ordinary share $ 0.29 $ 0.17 $ 0.91 $ 1.09 Diluted earnings per ordinary share for continuing operations $ 0.31 $ 0.21 $ 0.93 $ 0.94 Diluted (loss) / earnings per ordinary share for discontinued operations (0.02) (0.04) (0.03) 0.14 Diluted earnings per ordinary share $ 0.29 $ 0.17 $ 0.90 $ 1.08 (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)	9 Months Ended
	Sep. 25, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregated sales disclosures for the quarter and year-to-date ended September 25, 2022, and September 26, 2021, are included below and in Note 14, Segmental Information. Third Quarter 2022 2021 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 7.0 $ 31.0 $ 38.0 $ 7.6 $ 21.6 $ 29.2 Transportation 17.9 11.3 29.2 19.7 11.4 31.1 Defense, First Response & Healthcare 18.5 14.5 33.0 18.3 12.6 30.9 $ 43.4 $ 56.8 $ 100.2 $ 45.6 $ 45.6 $ 91.2 Year-to-date 2022 2021 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total General industrial $ 23.7 $ 90.1 $ 113.8 $ 23.3 $ 69.0 $ 92.3 Transportation 53.9 40.4 94.3 50.7 35.1 85.8 Defense, First Response & Healthcare 54.3 44.3 98.6 54.3 43.0 97.3 $ 131.9 $ 174.8 $ 306.7 $ 128.3 $ 147.1 $ 275.4

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 25, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring-related costs by reportable segment were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Severance and related costs Gas Cylinders $ 0.3 $ 0.5 $ 1.8 $ 1.1 Elektron — — 0.2 1.0 Total restructuring charges $ 0.3 $ 0.5 $ 2.0 $ 2.1
Schedule of Restructuring Reserve	Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2022 Balance at January 1, $ 11.7 Costs incurred 2.0 Cash payments and other (9.8) Balance at September 25, $ 3.9

Supplementary balance sheet i_2

Supplementary balance sheet information (Tables)	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Balance Sheet	Supplementary balance sheet information September 25, December 31, In millions 2022 2021 Accounts and other receivables Trade receivables $ 54.0 $ 45.8 Related parties 0.1 0.1 Prepayments and accrued income 6.5 8.5 Derivative financial instruments 0.7 0.1 Deferred consideration 1.0 1.0 Other receivables 3.8 2.3 Total accounts and other receivables $ 66.1 $ 57.8 Inventories Raw materials and supplies $ 44.1 $ 39.3 Work-in-process 41.8 26.7 Finished goods 25.7 24.5 Total inventories $ 111.6 $ 90.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 56.8 $ 64.6 Machinery and equipment 241.1 266.3 Construction in progress 8.8 8.4 Total property, plant and equipment 306.7 339.3 Accumulated depreciation and impairment (231.7) (251.8) Total property, plant and equipment, net $ 75.0 $ 87.5 Other current liabilities Restructuring provision $ 3.9 $ 11.7 Short term provision 1.0 0.2 Derivative financial instruments 0.7 0.1 Operating lease liability 4.5 3.0 Advance payments 2.5 4.6 Total other current liabilities $ 12.6 $ 19.6 Other non-current liabilities Contingent liabilities $ 0.6 $ 1.8 Operating lease liability 18.8 9.8 Other non-current liabilities 0.1 — Total other non-current liabilities $ 19.5 $ 11.6

Goodwill and other identifiab_2

Goodwill and other identifiable intangible assets (Tables)	9 Months Ended
	Sep. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill during the first nine months ended September 25, 2022, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2022 $ 27.6 $ 42.1 $ 69.7 Exchange difference (4.5) (2.7) (7.2) Net balance at September 25, 2022 $ 23.1 $ 39.4 $ 62.5
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2022 $ 15.2 $ 8.2 $ 23.4 Exchange movements — (1.4) (1.4) At September 25, 2022 $ 15.2 $ 6.8 $ 22.0 Accumulated amortization: At January 1, 2022 $ 5.7 $ 4.0 $ 9.7 Provided during the period 0.4 0.2 0.6 Exchange movements — (0.7) (0.7) At September 25, 2022 $ 6.1 $ 3.5 $ 9.6 Net book values: At January 1, 2022 $ 9.5 $ 4.2 $ 13.7 At September 25, 2022 $ 9.1 $ 3.3 $ 12.4

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 25, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt outstanding was as follows: In millions September 25, 2022 December 31, 2021 4.88% Loan Notes due 2023 $ 25.0 $ 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 37.6 10.8 Unamortized debt issuance costs (0.8) (1.2) Total debt $ 86.8 $ 59.6 Less current portion $ (25.0) $ — Non-current debt $ 61.8 $ 59.6
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 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 — — — — 37.6 — 37.6 Total debt $ — $ 25.0 $ — $ — $ 62.6 $ — $ 87.6

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 25, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Discontinued Operations	Results of discontinued operations in the first nine months of 2022 and 2021 were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Net sales $ 1.8 $ 4.9 $ 5.5 $ 19.5 Cost of goods sold (1.7) (4.7) (4.9) (20.4) Gross profit/(loss) $ 0.1 $ 0.2 $ 0.6 $ (0.9) Selling, general and administrative expenses (0.1) (1.4) (0.5) (3.1) Restructuring charges — — (0.3) — Acquisition and disposal related costs (0.7) — (0.9) — Operating loss $ (0.7) $ (1.2) $ (1.1) $ (4.0) Tax credit 0.2 0.5 0.2 1.2 Net loss $ (0.5) $ (0.7) $ (0.9) $ (2.8) The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets September 25, December 31, In millions 2022 2021 Right-of-use-assets from operating leases $ 2.8 $ — Inventory 3.0 2.7 Accounts and other receivables 2.1 2.1 Held-for-sale assets $ 7.9 $ 4.8 Held-for-sale liabilities Accounts payable 1.1 0.5 Accrued liabilities 0.5 0.1 Other liabilities 0.2 — Lease Liabilities 3.1 0.8 Held-for-sale liabilities $ 4.9 $ 1.4 The depreciation and amortization, capital expenditures and significant non-cash items were as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Cash flows from discontinued operating activities: Depreciation $ — $ 0.1 $ — $ 0.4

Share Plans (Tables)

Share Plans (Tables)	9 Months Ended
	Sep. 25, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Total share-based compensation expense for the quarters ended September 25, 2022, and September 26, 2021, was as follows: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Total share-based compensation charges $ 0.9 $ 0.8 $ 1.8 $ 2.2
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 2022 and the year-ended December 31, 2021: 2022 2021 Dividend yield (%) 2.27 2.27 Expected volatility range (%) 42.80 - 59.03 42.80 - 59.03 Risk-free interest rate (%) 0.04 - 0.24 0.04 - 0.24 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 Model used Black-Scholes & Monte-Carlo Black-Scholes & Monte-Carlo

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 25, 2022
Equity [Abstract]
Schedule of Dividends Paid and Proposed	Third Quarter Year-to-date In millions 2022 2021 2022 2021 Dividends declared and paid during the year: Interim dividend declared January 4 2021, and paid February 4, 2021 ($0.125 per ordinary share) $ — $ — $ — $ 3.4 Interim dividend declared April 5 2021, and paid May 5, 2021 ($0.125 per ordinary share) — — — 3.4 Interim dividend declared July 6 2021, and paid August 4, 2021 ($0.125 per ordinary share) — 3.4 — 3.4 Interim dividend declared January 4 2022, and paid February 2, 2022 ($0.125 per ordinary share) — — 3.4 — — Interim dividend declared March 10 2022, and paid May 4, 2022 ($0.130) per ordinary share) — — 3.6 — Interim dividend declared July 5 2022, and paid August 3, 2022 ($0.130) per ordinary share) 3.6 — 3.6 — $ 3.6 $ 3.4 $ 10.6 $ 10.2 In millions 2022 2021 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared October 5, and to be paid November 3, 2021 ($0.125 per ordinary share) $ — $ 3.4 Interim dividend declared October 4, and to be paid November 2, 2022 ($0.130 per ordinary share) 3.6 — $ 3.6 $ 3.4

Segmental Information (Tables)

Segmental Information (Tables)	9 Months Ended
	Sep. 25, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by reportable segment for the Third Quarter and year-to-date ended September 25, 2022, and September 26, 2021, is included in the following summary: Net sales Adjusted EBITDA Third Quarter Year-to-date Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 43.4 $ 45.6 $ 131.9 $ 128.3 $ 3.4 $ 5.4 $ 9.8 $ 16.7 Elektron segment 56.8 45.6 174.8 147.1 12.7 8.4 39.3 32.1 Consolidated $ 100.2 $ 91.2 $ 306.7 $ 275.4 $ 16.1 $ 13.8 $ 49.1 $ 48.8 Depreciation and amortization Restructuring charges Third Quarter Year-to-date Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 1.2 $ 1.4 $ 3.8 $ 3.9 $ 0.3 $ 0.5 $ 1.8 $ 1.1 Elektron segment 2.1 2.4 6.6 7.3 — — 0.2 1.0 Consolidated $ 3.3 $ 3.8 $ 10.4 $ 11.2 $ 0.3 $ 0.5 $ 2.0 $ 2.1 14. Segmental Information (continued) Total assets Capital expenditures September 25, December 31, Third Quarter Year-to-date In millions 2022 2021 2022 2021 2022 2021 Gas Cylinders segment $ 131.0 $ 122.7 $ 0.4 $ 0.2 $ 0.8 $ 0.7 Elektron segment 213.1 206.5 2.1 1.8 4.7 4.9 Other 40.4 34.8 — — — — Discontinued operations $ 7.9 $ 4.8 $ — $ — $ — $ — Consolidated $ 392.4 $ 368.8 $ 2.5 $ 2.0 $ 5.5 $ 5.6
Property, Plant and Equipment, Net by Geographic Region	Property, plant and equipment, net September 25, December 31, In millions 2022 2021 U.S. $ 42.2 $ 46.9 United Kingdom 28.8 36.0 Canada 2.9 3.3 Rest of Europe 0.9 1.0 Asia Pacific 0.2 0.3 $ 75.0 $ 87.5
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: Third Quarter Year-to-date In millions 2022 2021 2022 2021 Adjusted EBITDA $ 16.1 $ 13.8 $ 49.1 $ 48.8 Other share-based compensation charges (0.9) (0.8) (1.8) (2.2) Depreciation and amortization (3.3) (3.8) (10.4) (11.2) Gain on disposal of property, plant and equipment — — 0.2 — Restructuring charges (0.3) (0.5) (2.0) (2.1) Acquisition and disposal related costs — (0.6) (0.3) (1.5) Other charges — — — (1.1) Defined benefits pension credit 0.2 0.6 0.9 1.8 Interest expense, net (1.0) (0.8) (2.7) (2.4) Net income before income taxes from continuing operations $ 10.8 $ 7.9 $ 33.0 $ 30.1
Revenue from External Customers and Long-term Assets by Geographic Areas	The following tables present certain geographic information by geographic region for the Third Quarter ended September 25, 2022, and September 26, 2021: Net Sales (1) Third Quarter Year-to-date 2022 2021 2022 2021 $M Percent $M Percent $M Percent $M Percent United States $ 57.0 56.8 % $ 49.4 54.2 % $ 174.0 56.8 % $ 151.8 55.1 % U.K. 4.6 4.6 % 6.5 7.1 % 16.0 5.2 % 17.5 6.4 % Germany 4.4 4.4 % 5.1 5.6 % 15.3 5.0 % 13.2 4.8 % France 1.8 1.8 % 2.6 2.9 % 6.7 2.2 % 9.3 3.4 % Italy 2.5 2.5 % 3.5 3.8 % 8.4 2.7 % 9.5 3.4 % Top five countries $ 70.3 70.1 % $ 67.1 73.6 % $ 220.4 71.9 % $ 201.3 73.1 % Rest of Europe 6.7 6.7 % 4.9 5.4 % 19.1 6.2 % 19.0 6.9 % Asia Pacific 18.3 18.3 % 13.7 15.0 % 50.7 16.5 % 38.1 13.8 % Other (2) 4.9 4.9 % 5.5 6.0 % 16.5 5.4 % 17.0 6.2 % $ 100.2 $ 91.2 $ 306.7 $ 275.4 (1) Net sales are based on the geographic destination of sale. (2) Other includes Canada, South America, Latin America and Africa.

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Millions		3 Months Ended						9 Months Ended
		Sep. 25, 2022 USD ($) $ / shares shares	Jun. 26, 2022 USD ($)	Mar. 27, 2022 USD ($)	Sep. 26, 2021 USD ($) $ / shares shares	Jun. 27, 2021 USD ($)	Mar. 28, 2021 USD ($)	Sep. 25, 2022 USD ($) $ / shares shares	Sep. 26, 2021 USD ($) $ / shares shares	Sep. 25, 2022 £ / shares	Dec. 31, 2021 £ / shares
Basic earnings:
Net income from continuing operations | $		$ 8.5			$ 6			$ 25.8	$ 26.5
Net (loss) / income from discontinued operations | $		(0.5)			(1.2)			(0.9)	3.8
Net income | $		$ 8	$ 9.3	$ 7.6	$ 4.8	$ 11	$ 14.5	$ 24.9	$ 30.3
Weighted average number of £0.50 ordinary shares:
For basic earnings per share (in shares) | shares		27,295,862			27,722,472			27,403,844	27,718,874
Dilutive effect of potential common stock (in shares) | shares		229,452			311,260			249,042	353,281
For diluted earnings per share (in shares) | shares		27,525,314			28,033,732			27,652,886	28,072,155
Earnings / (loss) per share using weighted average number of ordinary shares outstanding
Basic earnings per ordinary share for continuing operations (usd per share)	[1]	$ 0.31			$ 0.22			$ 0.94	$ 0.96
Basic (loss)/earnings per ordinary share for discontinued operations (usd per share)	[1],[2]	(0.02)			(0.04)			(0.03)	0.14
Basic (usd per share)	[1]	0.29			0.17			0.91	1.09
Diluted earnings per ordinary share for continuing operations (usd per share)	[1]	0.31			0.21			0.93	0.94
Diluted (loss)/earnings per ordinary share for discontinued operations (usd per share)	[1],[2]	(0.02)			(0.04)			(0.03)	0.14
Diluted (usd per share)	[1]	0.29			0.17			0.90	1.08
Ordinary shares
Class of Stock [Line Items]
Common stock, par value (in EUR per share) | (per share)		$ 0.50			$ 0.50			$ 0.50	$ 0.50	£ 0.50	£ 0.50
[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.[2] The loss per share for discontinued operations in the Third Quarter of 2022 and 2021 and year-to-date of 2022 has not been diluted, since the incremental shares included in the weighted-average number of shares outstanding would have been anti-dilutive.

Net Sales - Disaggregation of R

Net Sales - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 100.2	$ 91.2	$ 306.7	$ 275.4
General industrial
Disaggregation of Revenue [Line Items]
Net sales	38	29.2	113.8	92.3
Transportation
Disaggregation of Revenue [Line Items]
Net sales	29.2	31.1	94.3	85.8
Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	33	30.9	98.6	97.3
Gas Cylinders
Disaggregation of Revenue [Line Items]
Net sales	43.4	45.6	131.9	128.3
Gas Cylinders | General industrial
Disaggregation of Revenue [Line Items]
Net sales	7	7.6	23.7	23.3
Gas Cylinders | Transportation
Disaggregation of Revenue [Line Items]
Net sales	17.9	19.7	53.9	50.7
Gas Cylinders | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	18.5	18.3	54.3	54.3
Elektron
Disaggregation of Revenue [Line Items]
Net sales	56.8	45.6	174.8	147.1
Elektron | General industrial
Disaggregation of Revenue [Line Items]
Net sales	31	21.6	90.1	69
Elektron | Transportation
Disaggregation of Revenue [Line Items]
Net sales	11.3	11.4	40.4	35.1
Elektron | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	$ 14.5	$ 12.6	$ 44.3	$ 43

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0.3		$ 0.5	$ 2	$ 2.1
Other restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.3		0.5	2	2.1
Gas Cylinders | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	0.3		0.5	1.8	1.1
Gas Cylinders | Other restructuring | France
Restructuring Cost and Reserve [Line Items]
Severance and related costs	0.3		0.3	1.8	1
Elektron | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	$ 0	$ 0.2	$ 0	$ 0.2	1
Elektron | One-time termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 0.9

Restructuring - Charges (Detail

Restructuring - Charges (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0.3		$ 0.5	$ 2	$ 2.1
Other restructuring
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0.3		0.5	2	2.1
Gas Cylinders | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	0.3		0.5	1.8	1.1
Elektron | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	$ 0	$ 0.2	$ 0	$ 0.2	$ 1

Restructuring - Reserve (Detail

Restructuring - Reserve (Details) $ in Millions	9 Months Ended
	Sep. 25, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 11.7
Costs incurred	2
Cash payments and other	(9.8)
Ending balance	$ 3.9

Acquisition and disposal rela_2

Acquisition and disposal related costs - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	Mar. 15, 2021	Sep. 25, 2022	Sep. 26, 2021
Business Acquisition [Line Items]
Acquisition-related costs		$ 0.3	$ 1.5
Structural Composites Industries LLC
Business Acquisition [Line Items]
Cash consideration transferred	$ 19.3

Other charges (Details)

Other charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Other Income and Expenses [Abstract]
Other charges	$ 0	$ 0	$ 0	$ 1.1

Supplementary balance sheet i_3

Supplementary balance sheet information - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Accounts and other receivables
Trade receivables	$ 54	$ 45.8
Related parties	0.1	0.1
Prepayments and accrued income	6.5	8.5
Derivative financial instruments	0.7	0.1
Deferred consideration	1	1
Other receivables	3.8	2.3
Total accounts and other receivables	66.1	57.8
Inventories
Raw materials and supplies	44.1	39.3
Work-in-process	41.8	26.7
Finished goods	25.7	24.5
Total inventories	111.6	90.5
Property, plant and equipment, net
Total property, plant and equipment	306.7	339.3
Accumulated depreciation and impairment	(231.7)	(251.8)
Total property, plant and equipment, net	75	87.5
Other current liabilities
Restructuring provision	3.9	11.7
Short term provision	1	0.2
Derivative financial instruments	0.7	0.1
Operating lease liability	4.5	3
Advance payments	2.5	4.6
Total other current liabilities	$ 12.6	$ 19.6
Operating lease, liability, current, statement of financial position [extensible enumeration]	Total other current liabilities	Total other current liabilities
Other non-current liabilities
Contingent liabilities	$ 0.6	$ 1.8
Operating lease liability	18.8	9.8
Other non-current liabilities	0.1	0
Total other non-current liabilities	$ 19.5	$ 11.6
Operating lease, liability, noncurrent, statement of financial position [extensible enumeration]	Total other non-current liabilities	Total other non-current liabilities
Land, buildings and leasehold improvements
Property, plant and equipment, net
Total property, plant and equipment	$ 56.8	$ 64.6
Machinery and equipment
Property, plant and equipment, net
Total property, plant and equipment	241.1	266.3
Construction in progress
Property, plant and equipment, net
Total property, plant and equipment	$ 8.8	$ 8.4

Goodwill and other identifiab_3

Goodwill and other identifiable intangible assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 25, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 69.7
Exchange difference	(7.2)
Ending balance	62.5
Gas Cylinders
Goodwill [Roll Forward]
Beginning balance	27.6
Exchange difference	(4.5)
Ending balance	23.1
Elektron
Goodwill [Roll Forward]
Beginning balance	42.1
Exchange difference	(2.7)
Ending balance	$ 39.4

Goodwill and other identifiab_4

Goodwill and other identifiable intangible assets - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 8		$ 8
Amortization of intangible assets	$ 0.6	$ 0.7
Useful life	4 years
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
Amortization, remainder of fiscal year	$ 0.8
Amortization, year one	0.8
Amortization, year two	0.8
Amortization, year three	0.8
Amortization, year four	$ 0.8

Goodwill and other identifiab_5

Goodwill and other identifiable intangible assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Cost:
At period start	$ 23.4
Exchange movements	(1.4)
At period end	22
Accumulated amortization:
Accumulated amortization, beginning balance	9.7
Amortization of purchased intangible assets	0.6	$ 0.7
Exchange movements	(0.7)
Accumulated amortization, ending balance	9.6
Net book values:	12.4		$ 13.7
Customer relationships
Cost:
At period start	15.2
Exchange movements	0
At period end	15.2
Accumulated amortization:
Accumulated amortization, beginning balance	5.7
Amortization of purchased intangible assets	0.4
Exchange movements	0
Accumulated amortization, ending balance	6.1
Net book values:	9.1		9.5
Technology and trading related
Cost:
At period start	8.2
Exchange movements	(1.4)
At period end	6.8
Accumulated amortization:
Accumulated amortization, beginning balance	4
Amortization of purchased intangible assets	0.2
Exchange movements	(0.7)
Accumulated amortization, ending balance	3.5
Net book values:	$ 3.3		$ 4.2

Debt - Schedule of Debt Outstan

Debt - Schedule of Debt Outstanding (Details) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (0.8)	$ (1.2)
Total debt	86.8	59.6
Less current portion	(25)	0
Non-current debt	61.8	59.6
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	37.6	10.8
Loan Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 87.6
Loan Notes | 4.88% Loan Notes due 2023
Debt Instrument [Line Items]
Debt stated interest rate	4.88%
Long-term debt, gross	$ 25	25
Loan Notes | 4.94% Loan Notes due 2026
Debt Instrument [Line Items]
Debt stated interest rate	4.94%
Long-term debt, gross	$ 25	$ 25

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 25, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amount drew down during the period, on line of credit	$ 31,700,000
Borrowing capacity	$ 4,000,000
Revolving credit facility
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.60%	1.70%
Long-term debt, gross	$ 37,600,000	$ 10,800,000
Borrowing capacity	$ 62,300,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Company's Debt (Details) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Revolving credit facility
Debt Instrument [Line Items]
2022	$ 0
2023	0
2024	0
2025	0
2026	37.6
Thereafter	0
Total	37.6	$ 10.8
Loan Notes
Debt Instrument [Line Items]
2022	0
2023	25
2024	0
2025	0
2026	62.6
Thereafter	0
Total	87.6
Loan Notes | 4.88% Loan Notes due 2023
Debt Instrument [Line Items]
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]
2022	0
2023	0
2024	0
2025	0
2026	25
Thereafter	0
Total	$ 25	$ 25

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss	$ (0.5)	$ (0.7)	$ (0.9)	$ (2.8)
Discontinued Operations, Held-for-sale | Superform Aluminum Superplastic
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	1.8	4.9	5.5	19.5
Cost of goods sold	(1.7)	(4.7)	(4.9)	(20.4)
Gross profit/(loss)	0.1	0.2	0.6	(0.9)
Selling, general and administrative expenses	(0.1)	(1.4)	(0.5)	(3.1)
Restructuring charges	0	0	(0.3)	0
Acquisition and disposal related costs	(0.7)	0	(0.9)	0
Operating loss	(0.7)	(1.2)	(1.1)	(4)
Tax credit	0.2	0.5	0.2	1.2
Net loss	$ (0.5)	$ (0.7)	$ (0.9)	$ (2.8)

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021	Mar. 28, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) / gain on disposition of discontinued operations, net of tax	$ 0	$ (0.5)	$ 0	$ 6.6
Held-for-sale | Building | Elektron
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount of property disposed	$ 1.2		$ 1.2		$ 3.7
Superform Aluminum Superplastic | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Working capital adjustment					0.8
(Loss) / gain on disposition of discontinued operations, net of tax		(0.1)			6.6
Superform Aluminum Superplastic | Discontinued Operations, Held-for-sale | U.S.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration of disposal					$ 20.2	$ 21
Graham | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) / gain on disposition of discontinued operations, net of tax		$ (0.5)

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Held-for-sale assets
Held-for-sale assets	$ 9.1	$ 8.5
Held-for-sale liabilities
Held-for-sale liabilities	4.9	1.4
Discontinued operations | Superform Aluminum Superplastic
Held-for-sale assets
Right-of-use-assets from operating leases	2.8	0
Inventory	3	2.7
Accounts and other receivables	2.1	2.1
Held-for-sale assets	7.9	4.8
Held-for-sale liabilities
Accounts payable	1.1	0.5
Accrued liabilities	0.5	0.1
Other liabilities	0.2	0
Lease Liabilities	3.1	0.8
Held-for-sale liabilities	$ 4.9	$ 1.4

Discontinued Operations - Cash

Discontinued Operations - Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Discontinued Operations and Disposal Groups [Abstract]
Depreciation	$ 0	$ 0.1	$ 0	$ 0.4

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	21.80%	12%
Change in enacted tax rate, amount		$ 2.8

Share Plans - Schedule of Share

Share Plans - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Share-Based Payment Arrangement [Abstract]
Total share-based compensation charges	$ 0.9	$ 0.8	$ 1.8	$ 2.2

Share Plans - Additional Inform

Share Plans - Additional Information (Details) - $ / shares	1 Months Ended
	Jun. 26, 2022	May 31, 2022	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted during the period (in shares)	26,295	19,000	167,400
Weighted average fair value of options granted (in USD per share)	$ 15.50	$ 15	$ 17.82
Awards granted during the period, based on total shareholder return (in shares)			17,000
Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			50%
Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			50%

Share Plans - Share Options Fai

Share Plans - Share Options Fair Value Assumptions (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 25, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	2.27%	2.27%
Expected volatility range (%), minimum	42.80%	42.80%
Expected volatility range (%), maximum	59.03%	59.03%
Risk-free interest rate (%), minimum	0.04%	0.04%
Risk-free interest rate (%), maximum	0.24%	0.24%
Forfeiture rate (%)	5%	5%
Weighted average exercise price (in USD per share)	$ 1	$ 1
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of share options range (years)	6 months	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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									3 Months Ended		9 Months Ended
	Nov. 02, 2022	Aug. 03, 2022	May 04, 2022	Feb. 02, 2022	Nov. 03, 2021	Aug. 04, 2021	May 05, 2021	Feb. 04, 2021	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Class of Stock [Line Items]
Dividends paid (in USD per share)		$ 0.130	$ 0.130	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125
Dividends paid		$ 3.6	$ 3.6	$ 3.4	$ 3.4	$ 3.4	$ 3.4	$ 3.4	$ 3.6	$ 3.4	$ 10.6	$ 10.2
Subsequent Event
Class of Stock [Line Items]
Dividends paid (in USD per share)	$ 0.130
Dividends paid	$ 3.6

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2022	Sep. 25, 2022	Sep. 26, 2021	Jun. 27, 2021
Class of Stock [Line Items]
Payment for cancellation of deferred shares			$ 0.4	$ 0.9
Additional paid-in capital
Class of Stock [Line Items]
Payment for cancellation of deferred shares			$ 0.4	$ 0.8
Deferred shares
Class of Stock [Line Items]
Payment for cancellation of deferred shares	$ 0.1	$ 0.1
Deferred shares | Additional paid-in capital
Class of Stock [Line Items]
Payment for cancellation of deferred shares	$ 149.8	$ (149.8)

Segmental Information - Additio

Segmental Information - Additional Information (Details)	9 Months Ended
	Sep. 25, 2022 segment division
Segment Reporting [Abstract]
Number of operating segments | segment	2
Number of operating divisions	4
Number of reportable segments	2

Segmental Information - Financi

Segmental Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 100.2	$ 91.2	$ 306.7	$ 275.4
Adjusted EBITDA	16.1	13.8	49.1	48.8
Depreciation and amortization	3.3	3.8	10.4	11.2
Restructuring charges	0.3	0.5	2	2.1
Total assets	392.4		392.4		$ 368.8
Capital expenditures	2.5	2	5.5	5.6
Discontinued operations
Segment Reporting Information [Line Items]
Total assets	7.9		7.9		4.8
Capital expenditures	0	0	0	0
Gas Cylinders
Segment Reporting Information [Line Items]
Net sales	43.4	45.6	131.9	128.3
Elektron
Segment Reporting Information [Line Items]
Net sales	56.8	45.6	174.8	147.1
Operating Segments | Gas Cylinders
Segment Reporting Information [Line Items]
Net sales	43.4	45.6	131.9	128.3
Adjusted EBITDA	3.4	5.4	9.8	16.7
Depreciation and amortization	1.2	1.4	3.8	3.9
Restructuring charges	0.3	0.5	1.8	1.1
Total assets	131		131		122.7
Capital expenditures	0.4	0.2	0.8	0.7
Operating Segments | Elektron
Segment Reporting Information [Line Items]
Net sales	56.8	45.6	174.8	147.1
Adjusted EBITDA	12.7	8.4	39.3	32.1
Depreciation and amortization	2.1	2.4	6.6	7.3
Restructuring charges	0	0	0.2	1
Total assets	213.1		213.1		206.5
Capital expenditures	2.1	1.8	4.7	4.9
Other
Segment Reporting Information [Line Items]
Total assets	40.4		40.4		$ 34.8
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Segmental Information - Geograp

Segmental Information - Geographic Information by Region (Details) - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 75	$ 87.5
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	42.2	46.9
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	28.8	36
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	2.9	3.3
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	0.9	1
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 0.2	$ 0.3

Segmental Information - Reconci

Segmental Information - Reconciliation of Consolidated Segment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Segment Reporting [Abstract]
Adjusted EBITDA	$ 16.1	$ 13.8	$ 49.1	$ 48.8
Other share-based compensation charges	(0.9)	(0.8)	(1.8)	(2.2)
Depreciation and amortization	(3.3)	(3.8)	(10.4)	(11.2)
Gain on disposal of property, plant and equipment	0	0	0.2	0
Restructuring charges	(0.3)	(0.5)	(2)	(2.1)
Acquisition and disposal related costs	0	(0.6)	(0.3)	(1.5)
Other charges	0	0	0	(1.1)
Defined benefits pension credit	0.2	0.6	0.9	1.8
Interest expense, net	(1)	(0.8)	(2.7)	(2.4)
Net income from continuing operations	$ 10.8	$ 7.9	$ 33	$ 30.1

Segmental Information - Geogr_2

Segmental Information - Geographic Information by Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 100.2	$ 91.2	$ 306.7	$ 275.4
Top five countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 70.3	$ 67.1	$ 220.4	$ 201.3
Top five countries | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	70.10%	73.60%	71.90%	73.10%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 57	$ 49.4	$ 174	$ 151.8
United States | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	56.80%	54.20%	56.80%	55.10%
U.K.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.6	$ 6.5	$ 16	$ 17.5
U.K. | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.60%	7.10%	5.20%	6.40%
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.4	$ 5.1	$ 15.3	$ 13.2
Germany | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.40%	5.60%	5%	4.80%
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1.8	$ 2.6	$ 6.7	$ 9.3
France | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	1.80%	2.90%	2.20%	3.40%
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 2.5	$ 3.5	$ 8.4	$ 9.5
Italy | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	2.50%	3.80%	2.70%	3.40%
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 6.7	$ 4.9	$ 19.1	$ 19
Rest of Europe | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	6.70%	5.40%	6.20%	6.90%
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 18.3	$ 13.7	$ 50.7	$ 38.1
Asia Pacific | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	18.30%	15%	16.50%	13.80%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.9	$ 5.5	$ 16.5	$ 17
Other | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.90%	6%	5.40%	6.20%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	1 Months Ended	9 Months Ended		12 Months Ended
	Nov. 30, 2020 lawsuits	Sep. 25, 2022 USD ($)	Sep. 25, 2022 GBP (£)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 GBP (£)	Sep. 25, 2022 GBP (£)	Dec. 31, 2021 GBP (£)
Loss Contingencies [Line Items]
Amount drawn/utilized		$ 31,700,000
Borrowing capacity		4,000,000
Credit facility, amount drawn		0		$ 0
Number of lawsuits | lawsuits	3
Revolving credit facility
Loss Contingencies [Line Items]
Long-term debt, gross		37,600,000		10,800,000
Uncommitted accordion facility		50,000,000
Borrowing capacity		62,300,000
Committed banking facilities
Loss Contingencies [Line Items]
Debt maximum borrowing capacity		100,000,000		100,000,000
Bonding facility for bank guarantees | United Kingdom, Pounds
Loss Contingencies [Line Items]
Debt maximum borrowing capacity		500,000		900,000		£ 500,000	£ 600,000
Amount drawn/utilized		100,000	£ 100,000	200,000	£ 100,000
Letter of credit
Loss Contingencies [Line Items]
Debt maximum borrowing capacity		2,000,000		1,500,000
Amount drawn/utilized		$ 1,100,000		$ 900,000