Luxfer (LXFR) 10-Q 25 Oct 23 2023 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Oct. 01, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 2023
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)	26,870,966
Entity Central Index Key	0001096056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Address, Country	US

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Income Statement [Abstract]
Net sales		$ 97.4	$ 100.2	$ 309.1	$ 306.7
Cost of goods sold		(82.8)	(77)	(249.2)	(233.6)
Gross profit		14.6	23.2	59.9	73.1
Selling, general and administrative expenses		(11.3)	(10.3)	(36.6)	(32.5)
Research and development		(1.2)	(1)	(3.4)	(3.5)
Restructuring charges		(1.6)	(0.3)	(4.4)	(2)
Acquisition and disposal related costs		0	0	0	(0.3)
Operating income		0.5	11.6	15.5	34.8
Net interest expense		(1.6)	(1)	(4.7)	(2.7)
Defined benefit pension credit / (charge)		0.3	0.2	(8)	0.9
(Loss) / income before income taxes		(0.8)	10.8	2.8	33
(Provision) / credit for income taxes		(0.7)	(2.3)	1.1	(7.2)
Net (loss) / income from continuing operations		(1.5)	8.5	3.9	25.8
Net income / (loss) from discontinued operations		0.2	(0.5)	0	(0.9)
Net (loss) / income		$ (1.3)	$ 8	$ 3.9	$ 24.9
(Loss) / earnings per share
Basic from continuing operations (usd per share)	[1],[2]	$ (0.06)	$ 0.31	$ 0.14	$ 0.94
Basic from discontinued operations (usd per share)	[1],[2]	0.01	(0.02)	0	(0.03)
Basic (usd per share)	[2]	(0.05)	0.29	0.14	0.91
Diluted from continuing operations (usd per share)	[1],[2]	(0.06)	0.31	0.14	0.93
Diluted from discontinued operations (usd per share)	[1],[2]	0.01	(0.02)	0	(0.03)
Diluted (usd per share)	[2]	$ (0.05)	$ 0.29	$ 0.14	$ 0.90
Weighted average ordinary shares outstanding
Basic (in shares)		26,895,968	27,295,862	26,913,771	27,403,844
Diluted (in shares)		27,016,373	27,525,314	27,072,425	27,652,886
[1] The loss per share for the third quarter of 2023 for continuing operations and the third quarter of 2022 and 2022 year-to-date for discontinued operations 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 (LOSS) / INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) / income	$ (1.3)	$ 8	$ 3.9	$ 24.9
Other comprehensive (loss) / income
Net change in foreign currency translation adjustment, net of tax	(5.4)	(12.5)	1.4	(22.5)
Pension and post-retirement actuarial gains, net of $0.1, $0.1, $5.1 and $0.3 tax, respectively	0.3	0.3	7.3	1
Other comprehensive (loss) / income, net of tax	(5.1)	(12.2)	8.7	(21.5)
Total comprehensive (loss) / income	$ (6.4)	$ (4.2)	$ 12.6	$ 3.4

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) / INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Statement of Comprehensive Income [Abstract]
Tax on other comprehensive income	$ 0.1	$ 0.1	$ 5.1	$ 0.3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1.2	$ 12.6
Restricted cash	0.3	0.3
Accounts and other receivables, net of allowances of $0.6 and $0.4, respectively	69.9	67.8
Inventories	109.8	111.1
Current assets held-for-sale	9.1	9.3
Total current assets	190.3	201.1
Non-current assets
Property, plant and equipment, net	74.6	77.7
Right-of-use assets from operating leases	17.5	19.8
Goodwill	66	65.6
Intangibles, net	12	12.5
Deferred tax assets	2.9	3
Investments and loans to joint ventures and other affiliates	0.3	0.4
Pensions and other retirement benefits	29.3	27
Total assets	392.9	407.1
Current liabilities
Short-term debt	1.1	25
Accounts payable	39.3	37.8
Accrued liabilities	21.1	29.4
Taxes on income	1.3	1.8
Current liabilities held-for-sale	4.2	5
Other current liabilities	13.3	11.2
Total current liabilities	80.3	110.2
Non-current liabilities
Long-term debt	78.8	56.2
Pensions and other retirement benefits	0	4.5
Deferred tax liabilities	11.4	9.9
Other non-current liabilities	17	19
Total liabilities	187.5	199.8
Commitments and contingencies (Note 14)
Shareholders' equity
Ordinary shares of £0.50 par value; authorized 40,000,000 shares for 2023 and 2022; issued and outstanding 28,944,000 for 2023 and 2022	26.5	26.5
Additional paid-in capital	222.8	221.4
Treasury shares	(22.4)	(20.4)
Company shares held by ESOP	(0.9)	(1)
Retained earnings	110.1	120.2
Accumulated other comprehensive loss	(130.7)	(139.4)
Total shareholders' equity	205.4	207.3
Total liabilities and shareholders' equity	$ 392.9	$ 407.1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) $ in Millions	Oct. 01, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Statement of Financial Position [Abstract]
Accounts and other receivables, net of allowance | $	$ 0.6	$ 0.4
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	28,944,000	28,944,000
Common stock, shares outstanding (in shares)	28,944,000	28,944,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022
Operating activities
Net income	$ 3.9	$ 24.9
Net loss from discontinued operations	0	0.9
Net income from continuing operations	3.9	25.8
Adjustments to reconcile net income to net cash provided / (used) by operating activities
Depreciation	9.2	9.8
Amortization of purchased intangible assets	0.6	0.6
Amortization of debt issuance costs	0.3	0.4
Share-based compensation charges	2	1.8
Deferred income taxes	1.6	0.5
Gain on disposal of property, plant and equipment	0	(0.2)
Asset impairment charges	2.7	0
Defined benefit pension charge / (credit)	8	(0.9)
Defined benefit pension contributions	(2.1)	0
Changes in assets and liabilities
Accounts and other receivables	(0.6)	(13.6)
Inventories	1.2	(29.6)
Current assets held-for-sale	0.4	(3.8)
Accounts payable	(0.9)	3.5
Accrued liabilities	(8.7)	5.5
Current liabilities held-for-sale	(0.7)	3.5
Other current liabilities	(7)	(1.9)
Other non-current assets and liabilities	0.3	(4.6)
Net cash provided / (used) by operating activities - continuing	10.2	(3.2)
Net cash provided by operating activities - discontinued	0.1	0
Net cash provided / (used) by operating activities	10.3	(3.2)
Investing activities
Capital expenditures	(7.5)	(5.2)
Proceeds from sale of property, plant and equipment	0	3.7
Net cash used by investing activities - continuing	(7.5)	(1.5)
Net cash used by investing activities - discontinued	(0.1)	0
Net cash used by investing activities	(7.6)	(1.5)
Financing activities
Repayment of short-term borrowings	(25)	0
Net drawdown of long-term borrowings	22.5	31.7
Repurchase of deferred shares	0	(0.1)
Repurchase of own shares	(2.2)	(6.9)
Share-based compensation cash paid	(0.3)	(1.4)
Dividends paid	(10.5)	(10.6)
Net cash (used) / provided by financing activities	(15.5)	12.7
Effect of exchange rate changes on cash and cash equivalents	0.3	(2.9)
Net (decrease) / increase	(12.5)	5.1
Cash, cash equivalents and restricted cash; beginning of year	12.9	6.4
Cash, cash equivalents and restricted cash; end of the third quarter	0.4	11.5
Supplemental cash flow information:
Interest payments	4.8	2.8
Income tax payments, net	$ 2.8	$ 2.2

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 Common stock
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 (loss) / income	7.6				7.6
Other comprehensive income / (loss), 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	(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 (loss) / income	24.9
Other comprehensive income / (loss), 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 (loss) / income	9.3				9.3
Other comprehensive income / (loss), net of tax	(7.9)					(7.9)
Share-based compensation	0.7	0.7
Share buyback (in shares)			(0.1)
Share buyback	(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 (loss) / income	8				8
Other comprehensive income / (loss), 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	(3.2)		$ (3.2)
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0.1
Utilization of shares from ESOP to satisfy share based compensation	0	(0.1)		$ 0.1
Cancellation of deferred share capital	(0.1)	149.8						(149.9)
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 Dec. 31, 2022	207.3	221.4	$ (20.4)	$ (1)	120.2	(139.4)	26.5
Beginning balance (in shares) at Dec. 31, 2022			(1.3)	(0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) / income	0.5				0.5
Other comprehensive income / (loss), net of tax	10.2					10.2
Dividends declared	(3.5)				(3.5)
Share-based compensation	0.6	0.6
Share buyback (in shares)			(0.1)
Share buyback	(0.8)		$ (0.8)
Utilization of shares from ESOP to satisfy share based compensation	(0.3)	(0.3)
Ending balance at Apr. 02, 2023	214	221.7	$ (21.2)	$ (1)	117.2	(129.2)	26.5
Ending balance (in shares) at Apr. 02, 2023			(1.4)	(0.7)
Beginning balance at Dec. 31, 2022	207.3	221.4	$ (20.4)	$ (1)	120.2	(139.4)	26.5
Beginning balance (in shares) at Dec. 31, 2022			(1.3)	(0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) / income	3.9
Other comprehensive income / (loss), net of tax	8.7
Ending balance at Oct. 01, 2023	205.4	222.8	$ (22.4)	$ (0.9)	110.1	(130.7)	26.5
Ending balance (in shares) at Oct. 01, 2023			(1.4)	(0.6)
Beginning balance at Apr. 02, 2023	214	221.7	$ (21.2)	$ (1)	117.2	(129.2)	26.5
Beginning balance (in shares) at Apr. 02, 2023			(1.4)	(0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) / income	4.7				4.7
Other comprehensive income / (loss), net of tax	3.6					3.6
Dividends declared	(7)				(7)
Share-based compensation	0.7	0.7
Share buyback	(0.8)		$ (0.8)
Utilization of treasury shares to satisfy share based compensation	(0.1)	(0.3)	0.2
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0.1
Utilization of shares from ESOP to satisfy share based compensation	0.1			$ 0.1
Ending balance at Jul. 02, 2023	215.2	222.1	$ (21.8)	$ (0.9)	114.9	(125.6)	26.5
Ending balance (in shares) at Jul. 02, 2023			(1.4)	(0.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) / income	(1.3)				(1.3)
Other comprehensive income / (loss), net of tax	(5.1)					(5.1)
Dividends declared	(3.5)				(3.5)
Share-based compensation	0.7	0.7
Share buyback	(0.6)		$ (0.6)
Ending balance at Oct. 01, 2023	$ 205.4	$ 222.8	$ (22.4)	$ (0.9)	$ 110.1	$ (130.7)	$ 26.5
Ending balance (in shares) at Oct. 01, 2023			(1.4)	(0.6)

Basis of Presentation and Respo

Basis of Presentation and Responsibility for interim Financial Statements	9 Months Ended
	Oct. 01, 2023
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, 2022. 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 2023, ended on October 1, 2023, and the third quarter 2022, ended on September 25, 2022. Accounting standards issued but not yet effective None that will be material to the Company.

Earnings per share

Earnings per share	9 Months Ended
	Oct. 01, 2023
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 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 2023 2022 2023 2022 Basic (loss) / earnings: Net (loss) / income from continuing operations $ (1.5) $ 8.5 $ 3.9 $ 25.8 Net income / (loss) from discontinued operations 0.2 (0.5) — (0.9) Net (loss) / income $ (1.3) $ 8.0 $ 3.9 $ 24.9 Weighted average number of £0.50 ordinary shares: For basic earnings per share 26,895,968 27,295,862 26,913,771 27,403,844 Dilutive effect of potential common stock 120,405 229,452 158,654 249,042 For diluted earnings per share 27,016,373 27,525,314 27,072,425 27,652,886 (Loss) / earnings per share using weighted average number of ordinary shares outstanding (1) : Basic (loss) / earnings per ordinary share for continuing operations $ (0.06) $ 0.31 $ 0.14 $ 0.94 Basic earnings / (loss) per ordinary share for discontinued operations 0.01 (0.02) — (0.03) Basic (loss) / earnings per ordinary share $ (0.05) $ 0.29 $ 0.14 $ 0.91 Diluted (loss) / earnings per ordinary share for continuing operations $ (0.06) $ 0.31 $ 0.14 $ 0.93 Diluted earnings / (loss) per ordinary share for discontinued operations 0.01 (0.02) — (0.03) Diluted (loss) / earnings per ordinary share $ (0.05) $ 0.29 $ 0.14 $ 0.90 (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 Basic average shares outstanding and diluted average shares outstanding were the same for continuing operations in the third quarter of 2023 and for discontinued operations in the third quarter of 2022 and year-to-date 2022, because the effect of potential shares of common stock was anti-dilutive since the Company generated a net loss.

Net Sales

Net Sales	9 Months Ended
	Oct. 01, 2023
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales Disaggregated sales disclosures for the third quarter and year-to-date ended October 1, 2023, and September 25, 2022, are included below and in Note 13, Segmental Information. Third Quarter 2023 2022 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total Defense, First Response & Healthcare $ 20.3 $ 19.4 $ 39.7 $ 18.5 $ 14.5 $ 33.0 Transportation 18.1 12.9 31.0 17.9 11.3 29.2 General industrial 6.3 20.4 26.7 7.0 31.0 38.0 $ 44.7 $ 52.7 $ 97.4 $ 43.4 $ 56.8 $ 100.2 Year-to-date 2023 2022 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total Defense, First Response & Healthcare $ 59.3 $ 68.0 $ 127.3 $ 54.3 $ 44.3 $ 98.6 Transportation 50.6 38.6 89.2 53.9 40.4 94.3 General industrial 24.8 67.8 92.6 23.7 90.1 113.8 $ 134.7 $ 174.4 $ 309.1 $ 131.9 $ 174.8 $ 306.7

Restructuring

Restructuring	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Restructuring-related costs by reportable segment were as follows: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Severance and other costs Gas Cylinders $ 1.1 $ 0.3 $ 1.6 $ 1.8 Elektron 0.1 — 0.1 0.2 $ 1.2 $ 0.3 $ 1.7 $ 2.0 Asset impairments Gas Cylinders $ 0.3 $ — $ 2.6 $ — Elektron segment 0.1 — 0.1 — $ 0.4 $ — $ 2.7 $ — Total restructuring charges $ 1.6 $ 0.3 $ 4.4 $ 2.0 Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2023 Balance at January 1, $ 3.7 Costs incurred 1.7 Cash payments and other (2.5) Balance at October 1, $ 2.9

Acquisition and disposal relate

Acquisition and disposal related costs	9 Months Ended
	Oct. 01, 2023
Business Combinations [Abstract]
Acquisition and disposal related costs	Acquisition and disposal related costsAcquisition-related costs of $0.3 million in the first nine months of 2022 represent professional fees incurred in relation to the SCI acquisition.

Supplementary balance sheet inf

Supplementary balance sheet information	9 Months Ended
	Oct. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary balance sheet information	Supplementary balance sheet information October 1, December 31, In millions 2023 2022 Accounts and other receivables Trade receivables $ 57.6 $ 56.4 Related parties 0.1 0.1 Prepayments and accrued income 9.4 6.6 Derivative financial instruments 0.1 0.7 Other receivables 2.7 4.0 Total accounts and other receivables $ 69.9 $ 67.8 Inventories Raw materials and supplies $ 42.5 $ 42.7 Work-in-process 39.1 44.0 Finished goods 28.2 24.4 Total inventories $ 109.8 $ 111.1 Property, plant and equipment, net Land, buildings and leasehold improvements $ 61.0 $ 58.9 Machinery and equipment 256.1 254.9 Construction in progress 12.7 9.8 Total property, plant and equipment 329.8 323.6 Accumulated depreciation and impairment (255.2) (245.9) Total property, plant and equipment, net $ 74.6 $ 77.7 Other current liabilities Restructuring provision $ 2.9 $ 3.7 Short term provision — 0.1 Derivative financial instruments 0.3 0.4 Operating lease liability 5.1 4.7 Dividend payable 3.5 — Advance payments 1.5 2.3 Total other current liabilities $ 13.3 $ 11.2 Other non-current liabilities Contingent liabilities $ 1.5 $ 0.7 Operating lease liability 15.3 18.2 Other non-current liabilities 0.2 0.1 Total other non-current liabilities $ 17.0 $ 19.0

Goodwill and other identifiable

Goodwill and other identifiable intangible assets	9 Months Ended
	Oct. 01, 2023
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 October 1, 2023, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2023 $ 25.0 $ 40.6 $ 65.6 Exchange difference 0.2 0.2 0.4 Net balance at October 1, 2023 $ 25.2 $ 40.8 $ 66.0 Accumulated goodwill impairment losses in relation to continuing activities were $8.0 million as of October 1, 2023 and December 31, 2022. Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2023 $ 15.2 $ 7.4 $ 22.6 Exchange movements — 0.1 0.1 At October 1, 2023 $ 15.2 $ 7.5 $ 22.7 Accumulated amortization: At January 1, 2023 $ 6.1 $ 4.0 $ 10.1 Charge 0.3 0.3 0.6 At October 1, 2023 $ 6.4 $ 4.3 $ 10.7 Net book values: At January 1, 2023 $ 9.1 $ 3.4 $ 12.5 At October 1, 2023 $ 8.8 $ 3.2 $ 12.0 Identifiable intangible asset amortization expense was $0.6 million for the first nine months of 2023 and 2022, respectively. Intangible asset amortization expense in 2023 and each of the following four years is expected to be approximately $0.8 million per year.

Debt

Debt	9 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was as follows: October 1, December 31, In millions 2023 2022 4.88% Loan Notes due 2023 $ — $ 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 54.4 31.9 Other - Bank overdraft 1.1 — Unamortized debt issuance costs (0.6) (0.7) Total debt 79.9 81.2 Less current portion (1.1) (25.0) Non-current debt $ 78.8 $ 56.2 The revolving credit facility is due to mature in 2026. The weighted-average interest rate on the revolving credit facility was 7.60% for the first nine months of 2023 and 3.80% for the full-year 2022. 8. Debt (continued) 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 October 1, 2023. The Loan Notes due 2026, the Shelf Facility and the Note Purchase and Private Shelf Agreement are governed by the law of the State of New York. The Loan Notes due 2023 were settled in the Second Quarter of 2023. Senior Facilities Agreement During the first nine months of 2023, we drew down net $22.5 million on the Revolving Credit Facility and the balance outstanding at October 1, 2023, was $54.4 million, and at December 31, 2022, was $31.9 million, with $70.6 million undrawn at October 1, 2023. 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 October 1, 2023.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Oct. 01, 2023
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 within the next 12 months. 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 2023 and 2022. Results of discontinued operations in the first nine months of 2023 and 2022 were as follows: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Net sales $ 1.9 $ 1.8 $ 6.1 $ 5.5 Cost of goods sold (1.4) (1.7) (5.0) (4.9) Gross profit 0.5 0.1 1.1 0.6 Selling, general and administrative expenses (0.3) (0.1) (1.0) (0.5) Restructuring credit / (charge) 0.1 — (0.1) (0.3) Acquisition and disposal related costs — (0.7) — (0.9) Operating income / (loss) 0.3 (0.7) — (1.1) Tax (charge) / credit (0.1) 0.2 — 0.2 Net income / (loss) $ 0.2 $ (0.5) $ — $ (0.9) 9. Discontinued Operations (continued) The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets October 1, December 31, In millions 2023 2022 Inventory $ 3.3 $ 2.7 Accounts and other receivables 2.3 2.7 Current assets 5.6 5.4 Right-of-use-assets 2.3 2.7 Held-for-sale assets $ 7.9 $ 8.1 Held-for-sale liabilities Accounts payable $ 1.0 $ 0.8 Accrued liabilities 0.4 0.2 Other liabilities 0.2 1.0 Operating lease liability 2.6 3.0 Held-for-sale liabilities $ 4.2 $ 5.0 Also included within assets held-for-sale in 2023 and 2022 are land and buildings valued at $1.2 million, within our Elektron Segment. There was no depreciation and amortization, capital expenditures or significant non-cash items. 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
	Oct. 01, 2023
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 October 1, 2023, was a 39.3%, tax credit compared to a 21.8% charge for the first nine months ended September 25, 2022. The rate was impacted by non-deductible expenses, asset impairment charges and a deferred tax credit, primarily in relation to the U.S. pension buyout.

Share Plans

Share Plans	9 Months Ended
	Oct. 01, 2023
Share-Based Payment Arrangement [Abstract]
Share Plans	Share Plans Total share-based compensation expense for the quarters ended October 1, 2023, and September 25, 2022, was as follows: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Total share-based compensation charges $ 0.7 $ 0.9 $ 2.0 $ 1.8 In March 2023, we issued our annual share-based compensation grants under the Luxfer Holdings PLC LongTerm Umbrella Incentive Plan. The total number of awards issued was approximately 126,600 and the weighted average fair value of options granted in 2023 was estimated to be $13.50 per share. Also in March 2023, approximately 10,000 awards were granted based on the achievement of total shareholder return targets from the period January 1, 2020 to December 31, 2022. 50% of these awards vested immediately upon grant, with the remaining 50% vesting in March 2024. In June 2023, 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 31,028 and the weighted-average fair value of options granted was estimated to be $15.06 per share. The following table illustrates the assumptions used in deriving the fair value of share options granted during 2023 and the year-ended December 31, 2022: 2023 2022 Dividend yield (%) 3.15 - 3.32 2.75 - 3.41 Expected volatility range (%) 31.54 - 43.49 36.11 - 49.43 Risk-free interest rate (%) 3.67 - 5.16 1.28 - 2.99 Expected life of share options range (years) 1.00 - 4.00 0.50 - 4.00 Forfeiture rate (%) 5.00 5.00 Weighted average exercise price ($) $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
	Oct. 01, 2023
Equity [Abstract]
Shareholders' equity	Shareholders' Equity Dividends paid and proposed Third Quarter Year-to-date In millions 2023 2022 2023 2022 Dividends declared and paid / accrued during the year: 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 Interim dividend declared January 3 2023, and paid February 1, 2023 ($0.130 per ordinary share) — — 3.5 — Interim dividend declared April 3 2023, and paid May 3, 2023 ($0.130) per ordinary share) — — 3.5 — Interim dividend declared June 29 2023, and paid August 2, 2023 ($0.130) per ordinary share) — — 3.5 — Interim dividend declared September 25 2023, and to be paid November 1, 2023 ($0.130) per ordinary share) 3.5 — 3.5 — $ 3.5 $ 3.6 $ 14.0 $ 10.6 In millions 2023 2022 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared October 4, and to be paid November 2, 2022 ($0.130 per ordinary share) $ — $ 3.6 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
	Oct. 01, 2023
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 expenses 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; gain / loss on disposal of property, plant and equipment; restructuring charges; acquisition and disposal related gains and costs; depreciation and amortization. 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 first nine months ended October 1, 2023, and September 25, 2022, is included in the following summary: Net sales Adjusted EBITDA Third Quarter Year-to-date Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 44.7 $ 43.4 $ 134.7 $ 131.9 $ 2.8 $ 3.4 $ 10.2 $ 9.8 Elektron segment 52.7 56.8 174.4 174.8 3.2 12.7 21.5 39.3 Consolidated $ 97.4 $ 100.2 $ 309.1 $ 306.7 $ 6.0 $ 16.1 $ 31.7 $ 49.1 Depreciation and amortization Restructuring charges Third Quarter Year-to-date Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 1.1 $ 1.2 $ 3.2 $ 3.8 $ 1.4 $ 0.3 $ 4.1 $ 1.8 Elektron segment 2.1 2.1 6.6 6.6 0.2 — 0.3 0.2 Consolidated $ 3.2 $ 3.3 $ 9.8 $ 10.4 $ 1.6 $ 0.3 $ 4.4 $ 2.0 13. Segmental Information (continued) Total assets Capital expenditures October 1, December 31, Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 135.3 $ 133.1 $ 0.8 $ 0.4 $ 1.4 $ 0.8 Elektron segment 208.6 216.4 1.7 2.1 6.1 4.7 Other 41.1 49.5 — — — — Discontinued operations 7.9 8.1 — — 0.1 — Consolidated $ 392.9 $ 407.1 $ 2.5 $ 2.5 $ 7.6 $ 5.5 Property, plant and equipment, net October 1, December 31, In millions 2023 2022 U.S. $ 37.7 $ 41.6 United Kingdom 32.9 32.0 Canada 2.7 2.8 Rest of Europe 1.0 1.0 Asia Pacific 0.3 0.3 $ 74.6 $ 77.7 The following table presents a reconciliation of Adjusted EBITDA to net income before income taxes, from continuing operations: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Adjusted EBITDA $ 6.0 $ 16.1 $ 31.7 $ 49.1 Other share-based compensation charges (0.7) (0.9) (2.0) (1.8) Depreciation and amortization (3.2) (3.3) (9.8) (10.4) Gain on disposal of property, plant and equipment — — — 0.2 Restructuring charges (1.6) (0.3) (4.4) (2.0) Acquisition and disposal related costs — — — (0.3) Defined benefits pension credit / (charge) 0.3 0.2 (8.0) 0.9 Interest expense, net (1.6) (1.0) (4.7) (2.7) Net (loss) / income before income taxes from continuing operations $ (0.8) $ 10.8 $ 2.8 $ 33.0 The following tables present certain geographic information by geographic region for the third quarter ended October 1, 2023, and September 25, 2022: Net Sales (1) Third Quarter Year-to-date 2023 2022 2023 2022 $M Percent $M Percent $M Percent $M Percent United States $ 59.0 60.7 % $ 57.0 56.9 % $ 184.5 59.7 % $ 174.0 56.7 % Japan 5.1 5.2 % 5.1 5.1 % 15.9 5.1 % 12.6 4.1 % United Kingdom 4.3 4.4 % 4.6 4.6 % 15.1 4.9 % 16.0 5.2 % Germany 4.7 4.8 % 4.4 4.4 % 14.8 4.8 % 15.3 5.0 % Canada 3.3 3.4 % 2.5 2.5 % 8.5 2.7 % 8.5 2.8 % Top five countries 76.4 78.5 % 73.6 73.5 % 238.8 77.2 % 226.4 73.8 % Rest of Europe 10.8 11.1 % 11.0 11.0 % 35.5 11.5 % 34.2 11.2 % Asia Pacific 4.9 5.0 % 13.2 13.1 % 22.2 7.2 % 38.1 12.4 % Other (2) 5.3 5.4 % 2.4 2.4 % 12.6 4.1 % 8.0 2.6 % $ 97.4 $ 100.2 $ 309.1 $ 306.7 (1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America and Africa.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and Contingencies Committed and uncommitted banking facilities The Company had committed banking facilities of $125.0 million at October 1, 2023 and $100.0 million at December 31, 2022. Of these committed facilities, $54.4 million was drawn at October 1, 2023 and $31.9 million at December 31, 2022. The Company also had an additional $25.0 million of uncommitted facilities through an accordion provision at October 1, 2023 and $50.0 million at December 31, 2022. Uncommitted Facilities October 1, 2023 December 31, 2022 Facility Drawn Facility Drawn Bond and Guarantees $ 0.6 $ 0.2 $ 0.6 $ 0.2 Letters of Credit 3.0 2.2 2.0 1.5 Overdraft 7.7 1.1 4.0 — $ 11.3 $ 3.5 $ 6.6 $ 1.7 Contingencies

Pension Settlement

Pension Settlement	9 Months Ended
	Oct. 01, 2023
Retirement Benefits [Abstract]
Pension settlement	Pension Settlement In the first quarter of 2023, there was a $9.2 million charge in relation to the sale of the U.S. pension plan liability to an insurer, which included $2.3 million cash and $6.9 million in relation to the derecognition of the U.S. pension liability and reallocation of accumulated actuarial losses from other comprehensive income. In the second quarter of 2023, we received a $0.2 million contribution refund, resulting in a net cash outflow of $2.1 million and a charge of $9.0 million for 2023. There was also a $0.3 million and $1.0 million defined benefit credit on the U.K pension plan for the third quarter and first nine months of 2023 respectively, consistent with the $0.3 million and $1.0 million for the third quarter and first nine months of 2022.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 01, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNo material events.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Oct. 01, 2023	Sep. 25, 2022
Pay vs Performance Disclosure
Net (loss) / income	$ (1.3)	$ 4.7	$ 0.5	$ 8	$ 9.3	$ 7.6	$ 3.9	$ 24.9

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 01, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Res_2

Basis of Presentation and Responsibility for interim Financial Statements (Policies)	9 Months Ended
	Oct. 01, 2023
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, 2022. 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 2023, ended on October 1, 2023, and the third quarter 2022, ended on September 25, 2022.
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
	Oct. 01, 2023
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 2023 2022 2023 2022 Basic (loss) / earnings: Net (loss) / income from continuing operations $ (1.5) $ 8.5 $ 3.9 $ 25.8 Net income / (loss) from discontinued operations 0.2 (0.5) — (0.9) Net (loss) / income $ (1.3) $ 8.0 $ 3.9 $ 24.9 Weighted average number of £0.50 ordinary shares: For basic earnings per share 26,895,968 27,295,862 26,913,771 27,403,844 Dilutive effect of potential common stock 120,405 229,452 158,654 249,042 For diluted earnings per share 27,016,373 27,525,314 27,072,425 27,652,886 (Loss) / earnings per share using weighted average number of ordinary shares outstanding (1) : Basic (loss) / earnings per ordinary share for continuing operations $ (0.06) $ 0.31 $ 0.14 $ 0.94 Basic earnings / (loss) per ordinary share for discontinued operations 0.01 (0.02) — (0.03) Basic (loss) / earnings per ordinary share $ (0.05) $ 0.29 $ 0.14 $ 0.91 Diluted (loss) / earnings per ordinary share for continuing operations $ (0.06) $ 0.31 $ 0.14 $ 0.93 Diluted earnings / (loss) per ordinary share for discontinued operations 0.01 (0.02) — (0.03) Diluted (loss) / earnings per ordinary share $ (0.05) $ 0.29 $ 0.14 $ 0.90 (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
	Oct. 01, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Disaggregated sales disclosures for the third quarter and year-to-date ended October 1, 2023, and September 25, 2022, are included below and in Note 13, Segmental Information. Third Quarter 2023 2022 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total Defense, First Response & Healthcare $ 20.3 $ 19.4 $ 39.7 $ 18.5 $ 14.5 $ 33.0 Transportation 18.1 12.9 31.0 17.9 11.3 29.2 General industrial 6.3 20.4 26.7 7.0 31.0 38.0 $ 44.7 $ 52.7 $ 97.4 $ 43.4 $ 56.8 $ 100.2 Year-to-date 2023 2022 In millions Gas Cylinders Elektron Total Gas Cylinders Elektron Total Defense, First Response & Healthcare $ 59.3 $ 68.0 $ 127.3 $ 54.3 $ 44.3 $ 98.6 Transportation 50.6 38.6 89.2 53.9 40.4 94.3 General industrial 24.8 67.8 92.6 23.7 90.1 113.8 $ 134.7 $ 174.4 $ 309.1 $ 131.9 $ 174.8 $ 306.7

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Oct. 01, 2023
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 2023 2022 2023 2022 Severance and other costs Gas Cylinders $ 1.1 $ 0.3 $ 1.6 $ 1.8 Elektron 0.1 — 0.1 0.2 $ 1.2 $ 0.3 $ 1.7 $ 2.0 Asset impairments Gas Cylinders $ 0.3 $ — $ 2.6 $ — Elektron segment 0.1 — 0.1 — $ 0.4 $ — $ 2.7 $ — Total restructuring charges $ 1.6 $ 0.3 $ 4.4 $ 2.0
Schedule of restructuring reserve	Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2023 Balance at January 1, $ 3.7 Costs incurred 1.7 Cash payments and other (2.5) Balance at October 1, $ 2.9

Supplementary balance sheet i_2

Supplementary balance sheet information (Tables)	9 Months Ended
	Oct. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed balance sheet	October 1, December 31, In millions 2023 2022 Accounts and other receivables Trade receivables $ 57.6 $ 56.4 Related parties 0.1 0.1 Prepayments and accrued income 9.4 6.6 Derivative financial instruments 0.1 0.7 Other receivables 2.7 4.0 Total accounts and other receivables $ 69.9 $ 67.8 Inventories Raw materials and supplies $ 42.5 $ 42.7 Work-in-process 39.1 44.0 Finished goods 28.2 24.4 Total inventories $ 109.8 $ 111.1 Property, plant and equipment, net Land, buildings and leasehold improvements $ 61.0 $ 58.9 Machinery and equipment 256.1 254.9 Construction in progress 12.7 9.8 Total property, plant and equipment 329.8 323.6 Accumulated depreciation and impairment (255.2) (245.9) Total property, plant and equipment, net $ 74.6 $ 77.7 Other current liabilities Restructuring provision $ 2.9 $ 3.7 Short term provision — 0.1 Derivative financial instruments 0.3 0.4 Operating lease liability 5.1 4.7 Dividend payable 3.5 — Advance payments 1.5 2.3 Total other current liabilities $ 13.3 $ 11.2 Other non-current liabilities Contingent liabilities $ 1.5 $ 0.7 Operating lease liability 15.3 18.2 Other non-current liabilities 0.2 0.1 Total other non-current liabilities $ 17.0 $ 19.0

Goodwill and other identifiab_2

Goodwill and other identifiable intangible assets (Tables)	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill during the first nine months ended October 1, 2023, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2023 $ 25.0 $ 40.6 $ 65.6 Exchange difference 0.2 0.2 0.4 Net balance at October 1, 2023 $ 25.2 $ 40.8 $ 66.0
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2023 $ 15.2 $ 7.4 $ 22.6 Exchange movements — 0.1 0.1 At October 1, 2023 $ 15.2 $ 7.5 $ 22.7 Accumulated amortization: At January 1, 2023 $ 6.1 $ 4.0 $ 10.1 Charge 0.3 0.3 0.6 At October 1, 2023 $ 6.4 $ 4.3 $ 10.7 Net book values: At January 1, 2023 $ 9.1 $ 3.4 $ 12.5 At October 1, 2023 $ 8.8 $ 3.2 $ 12.0

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Debt outstanding was as follows: October 1, December 31, In millions 2023 2022 4.88% Loan Notes due 2023 $ — $ 25.0 4.94% Loan Notes due 2026 25.0 25.0 Revolving credit facility 54.4 31.9 Other - Bank overdraft 1.1 — Unamortized debt issuance costs (0.6) (0.7) Total debt 79.9 81.2 Less current portion (1.1) (25.0) Non-current debt $ 78.8 $ 56.2

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Discontinued Operations	Results of discontinued operations in the first nine months of 2023 and 2022 were as follows: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Net sales $ 1.9 $ 1.8 $ 6.1 $ 5.5 Cost of goods sold (1.4) (1.7) (5.0) (4.9) Gross profit 0.5 0.1 1.1 0.6 Selling, general and administrative expenses (0.3) (0.1) (1.0) (0.5) Restructuring credit / (charge) 0.1 — (0.1) (0.3) Acquisition and disposal related costs — (0.7) — (0.9) Operating income / (loss) 0.3 (0.7) — (1.1) Tax (charge) / credit (0.1) 0.2 — 0.2 Net income / (loss) $ 0.2 $ (0.5) $ — $ (0.9) The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets October 1, December 31, In millions 2023 2022 Inventory $ 3.3 $ 2.7 Accounts and other receivables 2.3 2.7 Current assets 5.6 5.4 Right-of-use-assets 2.3 2.7 Held-for-sale assets $ 7.9 $ 8.1 Held-for-sale liabilities Accounts payable $ 1.0 $ 0.8 Accrued liabilities 0.4 0.2 Other liabilities 0.2 1.0 Operating lease liability 2.6 3.0 Held-for-sale liabilities $ 4.2 $ 5.0

Share Plans (Tables)

Share Plans (Tables)	9 Months Ended
	Oct. 01, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Total share-based compensation expense for the quarters ended October 1, 2023, and September 25, 2022, was as follows: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Total share-based compensation charges $ 0.7 $ 0.9 $ 2.0 $ 1.8
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 2023 and the year-ended December 31, 2022: 2023 2022 Dividend yield (%) 3.15 - 3.32 2.75 - 3.41 Expected volatility range (%) 31.54 - 43.49 36.11 - 49.43 Risk-free interest rate (%) 3.67 - 5.16 1.28 - 2.99 Expected life of share options range (years) 1.00 - 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
	Oct. 01, 2023
Equity [Abstract]
Schedule of Dividends Paid and Proposed	Third Quarter Year-to-date In millions 2023 2022 2023 2022 Dividends declared and paid / accrued during the year: 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 Interim dividend declared January 3 2023, and paid February 1, 2023 ($0.130 per ordinary share) — — 3.5 — Interim dividend declared April 3 2023, and paid May 3, 2023 ($0.130) per ordinary share) — — 3.5 — Interim dividend declared June 29 2023, and paid August 2, 2023 ($0.130) per ordinary share) — — 3.5 — Interim dividend declared September 25 2023, and to be paid November 1, 2023 ($0.130) per ordinary share) 3.5 — 3.5 — $ 3.5 $ 3.6 $ 14.0 $ 10.6 In millions 2023 2022 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared October 4, and to be paid November 2, 2022 ($0.130 per ordinary share) $ — $ 3.6

Segmental Information (Tables)

Segmental Information (Tables)	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by reportable segment for the third quarter and first nine months ended October 1, 2023, and September 25, 2022, is included in the following summary: Net sales Adjusted EBITDA Third Quarter Year-to-date Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 44.7 $ 43.4 $ 134.7 $ 131.9 $ 2.8 $ 3.4 $ 10.2 $ 9.8 Elektron segment 52.7 56.8 174.4 174.8 3.2 12.7 21.5 39.3 Consolidated $ 97.4 $ 100.2 $ 309.1 $ 306.7 $ 6.0 $ 16.1 $ 31.7 $ 49.1 Depreciation and amortization Restructuring charges Third Quarter Year-to-date Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 1.1 $ 1.2 $ 3.2 $ 3.8 $ 1.4 $ 0.3 $ 4.1 $ 1.8 Elektron segment 2.1 2.1 6.6 6.6 0.2 — 0.3 0.2 Consolidated $ 3.2 $ 3.3 $ 9.8 $ 10.4 $ 1.6 $ 0.3 $ 4.4 $ 2.0 13. Segmental Information (continued) Total assets Capital expenditures October 1, December 31, Third Quarter Year-to-date In millions 2023 2022 2023 2022 2023 2022 Gas Cylinders segment $ 135.3 $ 133.1 $ 0.8 $ 0.4 $ 1.4 $ 0.8 Elektron segment 208.6 216.4 1.7 2.1 6.1 4.7 Other 41.1 49.5 — — — — Discontinued operations 7.9 8.1 — — 0.1 — Consolidated $ 392.9 $ 407.1 $ 2.5 $ 2.5 $ 7.6 $ 5.5
Property, Plant and Equipment, Net by Geographic Region	Property, plant and equipment, net October 1, December 31, In millions 2023 2022 U.S. $ 37.7 $ 41.6 United Kingdom 32.9 32.0 Canada 2.7 2.8 Rest of Europe 1.0 1.0 Asia Pacific 0.3 0.3 $ 74.6 $ 77.7
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents a reconciliation of Adjusted EBITDA to net income before income taxes, from continuing operations: Third Quarter Year-to-date In millions 2023 2022 2023 2022 Adjusted EBITDA $ 6.0 $ 16.1 $ 31.7 $ 49.1 Other share-based compensation charges (0.7) (0.9) (2.0) (1.8) Depreciation and amortization (3.2) (3.3) (9.8) (10.4) Gain on disposal of property, plant and equipment — — — 0.2 Restructuring charges (1.6) (0.3) (4.4) (2.0) Acquisition and disposal related costs — — — (0.3) Defined benefits pension credit / (charge) 0.3 0.2 (8.0) 0.9 Interest expense, net (1.6) (1.0) (4.7) (2.7) Net (loss) / income before income taxes from continuing operations $ (0.8) $ 10.8 $ 2.8 $ 33.0
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 October 1, 2023, and September 25, 2022: Net Sales (1) Third Quarter Year-to-date 2023 2022 2023 2022 $M Percent $M Percent $M Percent $M Percent United States $ 59.0 60.7 % $ 57.0 56.9 % $ 184.5 59.7 % $ 174.0 56.7 % Japan 5.1 5.2 % 5.1 5.1 % 15.9 5.1 % 12.6 4.1 % United Kingdom 4.3 4.4 % 4.6 4.6 % 15.1 4.9 % 16.0 5.2 % Germany 4.7 4.8 % 4.4 4.4 % 14.8 4.8 % 15.3 5.0 % Canada 3.3 3.4 % 2.5 2.5 % 8.5 2.7 % 8.5 2.8 % Top five countries 76.4 78.5 % 73.6 73.5 % 238.8 77.2 % 226.4 73.8 % Rest of Europe 10.8 11.1 % 11.0 11.0 % 35.5 11.5 % 34.2 11.2 % Asia Pacific 4.9 5.0 % 13.2 13.1 % 22.2 7.2 % 38.1 12.4 % Other (2) 5.3 5.4 % 2.4 2.4 % 12.6 4.1 % 8.0 2.6 % $ 97.4 $ 100.2 $ 309.1 $ 306.7 (1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America and Africa.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Oct. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Uncommitted Facilities	Uncommitted Facilities October 1, 2023 December 31, 2022 Facility Drawn Facility Drawn Bond and Guarantees $ 0.6 $ 0.2 $ 0.6 $ 0.2 Letters of Credit 3.0 2.2 2.0 1.5 Overdraft 7.7 1.1 4.0 — $ 11.3 $ 3.5 $ 6.6 $ 1.7

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Millions		3 Months Ended						9 Months Ended
		Oct. 01, 2023 USD ($) $ / shares shares	Jul. 02, 2023 USD ($)	Apr. 02, 2023 USD ($)	Sep. 25, 2022 USD ($) $ / shares shares	Jun. 26, 2022 USD ($)	Mar. 27, 2022 USD ($)	Oct. 01, 2023 USD ($) $ / shares shares	Sep. 25, 2022 USD ($) $ / shares shares	Oct. 01, 2023 £ / shares	Dec. 31, 2022 £ / shares	Sep. 25, 2022 £ / shares
Basic (loss) / earnings:
Net (loss) / income from continuing operations | $		$ (1.5)			$ 8.5			$ 3.9	$ 25.8
Net income / (loss) from discontinued operations | $		0.2			(0.5)			0	(0.9)
Net (loss) / income | $		$ (1.3)	$ 4.7	$ 0.5	$ 8	$ 9.3	$ 7.6	$ 3.9	$ 24.9
Common stock, par value (in GBP per share) | £ / shares										£ 0.50	£ 0.50
Weighted average number of £0.50 ordinary shares:
For basic earnings per share (in shares) | shares		26,895,968			27,295,862			26,913,771	27,403,844
Dilutive effect of potential common stock (in shares) | shares		120,405			229,452			158,654	249,042
For diluted earnings per share (in shares) | shares		27,016,373			27,525,314			27,072,425	27,652,886
(Loss) / earnings per share using weighted average number of ordinary shares outstanding
Basic (loss) / earnings per ordinary share for continuing operations (usd per share)	[1],[2]	$ (0.06)			$ 0.31			$ 0.14	$ 0.94
Basic earnings /(loss) per ordinary share for discontinued operations (usd per share)	[1],[2]	0.01			(0.02)			0	(0.03)
Basic (usd per share)	[2]	(0.05)			0.29			0.14	0.91
Diluted (loss) / earnings per ordinary share for continuing operations (usd per share)	[1],[2]	(0.06)			0.31			0.14	0.93
Diluted earnings / (loss) per ordinary share for discontinued operations (usd per share)	[1],[2]	0.01			(0.02)			0	(0.03)
Diluted (usd per share)	[2]	$ (0.05)			$ 0.29			$ 0.14	$ 0.90
Ordinary shares
Basic (loss) / earnings:
Common stock, par value (in GBP per share) | £ / shares										£ 0.50		£ 0.50
[1] The loss per share for the third quarter of 2023 for continuing operations and the third quarter of 2022 and 2022 year-to-date for discontinued operations has not been diluted, since the incremental shares included in the weighted-average number of shares outstanding would have been anti-dilutive.

Net Sales (Details)

Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 97.4	$ 100.2	$ 309.1	$ 306.7
Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	39.7	33	127.3	98.6
Transportation
Disaggregation of Revenue [Line Items]
Net sales	31	29.2	89.2	94.3
General industrial
Disaggregation of Revenue [Line Items]
Net sales	26.7	38	92.6	113.8
Gas Cylinders
Disaggregation of Revenue [Line Items]
Net sales	44.7	43.4	134.7	131.9
Gas Cylinders | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	20.3	18.5	59.3	54.3
Gas Cylinders | Transportation
Disaggregation of Revenue [Line Items]
Net sales	18.1	17.9	50.6	53.9
Gas Cylinders | General industrial
Disaggregation of Revenue [Line Items]
Net sales	6.3	7	24.8	23.7
Elektron
Disaggregation of Revenue [Line Items]
Net sales	52.7	56.8	174.4	174.8
Elektron | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	19.4	14.5	68	44.3
Elektron | Transportation
Disaggregation of Revenue [Line Items]
Net sales	12.9	11.3	38.6	40.4
Elektron | General industrial
Disaggregation of Revenue [Line Items]
Net sales	$ 20.4	$ 31	$ 67.8	$ 90.1

Restructuring - Charges (Detail

Restructuring - Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Restructuring Cost and Reserve [Line Items]
Severance and other costs	$ 1.2	$ 0.3	$ 1.7	$ 2
Asset impairments	0.4	0	2.7	0
Total restructuring charges	1.6	0.3	4.4	2
Gas Cylinders
Restructuring Cost and Reserve [Line Items]
Severance and other costs	1.1	0.3	1.6	1.8
Asset impairments	0.3	0	2.6	0
Elektron
Restructuring Cost and Reserve [Line Items]
Severance and other costs	0.1	0	0.1	0.2
Elektron | Other restructuring
Restructuring Cost and Reserve [Line Items]
Asset impairments	$ 0.1	$ 0	$ 0.1	$ 0

Restructuring - Reserve (Detail

Restructuring - Reserve (Details) $ in Millions	9 Months Ended
	Oct. 01, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3.7
Costs incurred	1.7
Cash payments and other	(2.5)
Ending balance	$ 2.9

Acquisition and disposal rela_2

Acquisition and disposal related costs (Details) $ in Millions	9 Months Ended
	Sep. 25, 2022 USD ($)
Business Combinations [Abstract]
Acquisition-related costs	$ 0.3

Supplementary balance sheet i_3

Supplementary balance sheet information (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Accounts and other receivables
Trade receivables	$ 57.6	$ 56.4
Prepayments and accrued income	9.4	6.6
Derivative financial instruments	0.1	0.7
Total accounts and other receivables	69.9	67.8
Inventories
Raw materials and supplies	42.5	42.7
Work-in-process	39.1	44
Finished goods	28.2	24.4
Total inventories	109.8	111.1
Property, plant and equipment, net
Total property, plant and equipment	329.8	323.6
Accumulated depreciation and impairment	(255.2)	(245.9)
Total property, plant and equipment, net	74.6	77.7
Other current liabilities
Restructuring provision	2.9	3.7
Short term provision	0	0.1
Derivative financial instruments	0.3	0.4
Operating lease liability	5.1	4.7
Dividend payable	3.5	0
Advance payments	1.5	2.3
Total other current liabilities	$ 13.3	$ 11.2
Operating lease, liability, current, statement of financial position [extensible enumeration]	Total other current liabilities	Total other current liabilities
Other non-current liabilities
Contingent liabilities	$ 1.5	$ 0.7
Operating lease liability	15.3	18.2
Other non-current liabilities	0.2	0.1
Total other non-current liabilities	$ 17	$ 19
Operating lease, liability, noncurrent, statement of financial position [extensible enumeration]	Total other non-current liabilities	Total other non-current liabilities
Related party
Accounts and other receivables
Other receivables	$ 0.1	$ 0.1
Nonrelated party
Accounts and other receivables
Other receivables	2.7	4
Land, buildings and leasehold improvements
Property, plant and equipment, net
Total property, plant and equipment	61	58.9
Machinery and equipment
Property, plant and equipment, net
Total property, plant and equipment	256.1	254.9
Construction in progress
Property, plant and equipment, net
Total property, plant and equipment	$ 12.7	$ 9.8

Goodwill and other identifiab_3

Goodwill and other identifiable intangible assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Oct. 01, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 65.6
Exchange difference	0.4
Ending balance	66
Gas Cylinders
Goodwill [Roll Forward]
Beginning balance	25
Exchange difference	0.2
Ending balance	25.2
Elektron
Goodwill [Roll Forward]
Beginning balance	40.6
Exchange difference	0.2
Ending balance	$ 40.8

Goodwill and other identifiab_4

Goodwill and other identifiable intangible assets - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 8		$ 8
Charge	$ 0.6	$ 0.6
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
	Oct. 01, 2023	Sep. 25, 2022	Dec. 31, 2022
Cost:
Beginning balance	$ 22.6
Exchange movements	0.1
Ending balance	22.7
Accumulated amortization:
Beginning balance	10.1
Charge	0.6	$ 0.6
Ending balance	10.7
Net book values:	12		$ 12.5
Customer relationships
Cost:
Beginning balance	15.2
Exchange movements	0
Ending balance	15.2
Accumulated amortization:
Beginning balance	6.1
Charge	0.3
Ending balance	6.4
Net book values:	8.8		9.1
Technology and trading related
Cost:
Beginning balance	7.4
Exchange movements	0.1
Ending balance	7.5
Accumulated amortization:
Beginning balance	4
Charge	0.3
Ending balance	4.3
Net book values:	$ 3.2		$ 3.4

Debt - Schedule of Debt Outstan

Debt - Schedule of Debt Outstanding (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (0.6)	$ (0.7)
Total debt	79.9	81.2
Less current portion	(1.1)	(25)
Non-current debt	78.8	56.2
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	54.4	31.9
Overdraft
Debt Instrument [Line Items]
Long-term debt, gross	$ 1.1	0
Loan Notes | 4.88% Loan Notes due 2023
Debt Instrument [Line Items]
Debt stated interest rate	4.88%
Long-term debt, gross	$ 0	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) - Revolving credit facility - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt, weighted average interest rate	7.60%	3.80%
Drawn	$ 54.4	$ 31.9
Borrowing capacity	$ 70.6

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - Discontinued Operations, Held-for-sale - Superform Aluminum Superplastic - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 1.9	$ 1.8	$ 6.1	$ 5.5
Cost of goods sold	(1.4)	(1.7)	(5)	(4.9)
Gross profit	0.5	0.1	1.1	0.6
Selling, general and administrative expenses	(0.3)	(0.1)	(1)	(0.5)
Restructuring credit / (charge)	0.1	0	(0.1)	(0.3)
Acquisition and disposal related costs	0	(0.7)	0	(0.9)
Operating income / (loss)	0.3	(0.7)	0	(1.1)
Tax (charge) / credit	(0.1)	0.2	0	0.2
Net income / (loss)	$ 0.2	$ (0.5)	$ 0	$ (0.9)

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Held-for-sale assets
Current assets	$ 9.1	$ 9.3
Held-for-sale liabilities
Held-for-sale liabilities	4.2	5
Discontinued operations | Superform Aluminum Superplastic
Held-for-sale assets
Inventory	3.3	2.7
Accounts and other receivables	2.3	2.7
Current assets	5.6	5.4
Right-of-use-assets	2.3	2.7
Held-for-sale assets	7.9	8.1
Held-for-sale liabilities
Accounts payable	1	0.8
Accrued liabilities	0.4	0.2
Other liabilities	0.2	1
Operating lease liability	2.6	3
Held-for-sale liabilities	$ 4.2	$ 5

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
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

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	39.30%	21.80%

Share Plans - Schedule of Share

Share Plans - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Share-Based Payment Arrangement [Abstract]
Total share-based compensation charges	$ 0.7	$ 0.9	$ 2	$ 1.8

Share Plans - Additional Inform

Share Plans - Additional Information (Details) - $ / shares	1 Months Ended		3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 26, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted during the period (in shares)	31,028	10,000
Weighted average fair value of options granted (in USD per share)			$ 15.06
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%
Luxfer Holdings PLC Long-Term Umbrella Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted during the period (in shares)		126,600
Weighted average fair value of options granted (in USD per share)		$ 13.50

Share Plans - Share Options Fai

Share Plans - Share Options Fair Value Assumptions (Details) - $ / shares	9 Months Ended	12 Months Ended
	Oct. 01, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range (%), minimum	31.54%	36.11%
Expected volatility range (%), maximum	43.49%	49.43%
Risk-free interest rate (%), minimum	3.67%	1.28%
Risk-free interest rate (%), maximum	5.16%	2.99%
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]
Dividend yield (%)	3.15%	2.75%
Expected life of share options range (years)	1 year	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	3.32%	3.41%
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		10 Months Ended
	Nov. 01, 2023	Aug. 02, 2023	May 03, 2023	Feb. 01, 2023	Nov. 02, 2022	Aug. 03, 2022	May 04, 2022	Feb. 02, 2022	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022	Nov. 01, 2023
Class of Stock [Line Items]
Dividends paid (in USD per share)		$ 0.130	$ 0.130	$ 0.130	$ 0.130	$ 0.130	$ 0.130	$ 0.125
Dividends paid		$ 3.5	$ 3.5	$ 3.5	$ 3.6	$ 3.6	$ 3.6	$ 3.4	$ 3.6	$ 10.5	$ 10.6
Subsequent event
Class of Stock [Line Items]
Dividends paid (in USD per share)	$ 0.130
Dividends paid	$ 3.5											$ 14

Shareholders' Equity - Addition

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

Segmental Information - Additio

Segmental Information - Additional Information (Details)	9 Months Ended
	Oct. 01, 2023 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
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 97.4	$ 100.2	$ 309.1	$ 306.7
Adjusted EBITDA	6	16.1	31.7	49.1
Depreciation and amortization	3.2	3.3	9.8	10.4
Restructuring charges	1.6	0.3	4.4	2
Total assets	392.9		392.9		$ 407.1
Capital expenditures	2.5	2.5	7.6	5.5
Discontinued operations
Segment Reporting Information [Line Items]
Total assets	7.9		7.9		8.1
Capital expenditures	0	0	0.1	0
Gas Cylinders segment
Segment Reporting Information [Line Items]
Net sales	44.7	43.4	134.7	131.9
Elektron segment
Segment Reporting Information [Line Items]
Net sales	52.7	56.8	174.4	174.8
Operating segments | Gas Cylinders segment
Segment Reporting Information [Line Items]
Net sales	44.7	43.4	134.7	131.9
Adjusted EBITDA	2.8	3.4	10.2	9.8
Depreciation and amortization	1.1	1.2	3.2	3.8
Restructuring charges	1.4	0.3	4.1	1.8
Total assets	135.3		135.3		133.1
Capital expenditures	0.8	0.4	1.4	0.8
Operating segments | Elektron segment
Segment Reporting Information [Line Items]
Net sales	52.7	56.8	174.4	174.8
Adjusted EBITDA	3.2	12.7	21.5	39.3
Depreciation and amortization	2.1	2.1	6.6	6.6
Restructuring charges	0.2	0	0.3	0.2
Total assets	208.6		208.6		216.4
Capital expenditures	1.7	2.1	6.1	4.7
Other
Segment Reporting Information [Line Items]
Total assets	41.1		41.1		$ 49.5
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Segmental Information - Geograp

Segmental Information - Geographic Information by Region (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 74.6	$ 77.7
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	37.7	41.6
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	32.9	32
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	2.7	2.8
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1	1
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 0.3	$ 0.3

Segmental Information - Reconci

Segmental Information - Reconciliation of Consolidated Segment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Segment Reporting [Abstract]
Adjusted EBITDA	$ 6	$ 16.1	$ 31.7	$ 49.1
Other share-based compensation charges	(0.7)	(0.9)	(2)	(1.8)
Depreciation and amortization	(3.2)	(3.3)	(9.8)	(10.4)
Gain on disposal of property, plant and equipment	0	0	0	0.2
Restructuring charges	(1.6)	(0.3)	(4.4)	(2)
Acquisition and disposal related costs	0	0	0	(0.3)
Defined benefits pension credit / (charge)	0.3	0.2	(8)	0.9
Interest expense, net	(1.6)	(1)	(4.7)	(2.7)
Net (loss) / income before income taxes from continuing operations	$ (0.8)	$ 10.8	$ 2.8	$ 33

Segmental Information - Geogr_2

Segmental Information - Geographic Information by Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Sep. 25, 2022	Oct. 01, 2023	Sep. 25, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 97.4	$ 100.2	$ 309.1	$ 306.7
Top five countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 76.4	$ 73.6	$ 238.8	$ 226.4
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	78.50%	73.50%	77.20%	73.80%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 59	$ 57	$ 184.5	$ 174
United States | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	60.70%	56.90%	59.70%	56.70%
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 5.1	$ 5.1	$ 15.9	$ 12.6
Japan | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	5.20%	5.10%	5.10%	4.10%
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.3	$ 4.6	$ 15.1	$ 16
United Kingdom | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.40%	4.60%	4.90%	5.20%
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.7	$ 4.4	$ 14.8	$ 15.3
Germany | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.80%	4.40%	4.80%	5%
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3.3	$ 2.5	$ 8.5	$ 8.5
Canada | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	3.40%	2.50%	2.70%	2.80%
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 10.8	$ 11	$ 35.5	$ 34.2
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	11.10%	11%	11.50%	11.20%
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.9	$ 13.2	$ 22.2	$ 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	5%	13.10%	7.20%	12.40%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 5.3	$ 2.4	$ 12.6	$ 8
Other | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	5.40%	2.40%	4.10%	2.60%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	1 Months Ended
	Nov. 30, 2020 lawsuit	Nov. 30, 2018 fatality	Oct. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Number of fatalities | fatality		1
Number of lawsuits | lawsuit	3
Revolving credit facility
Loss Contingencies [Line Items]
Drawn			$ 54.4	$ 31.9
Uncommitted accordion facility			25	50
Committed Banking Facilities
Loss Contingencies [Line Items]
Facility			125	100
Drawn			$ 54.4	$ 31.9

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Uncommitted Facilities (Details) - USD ($) $ in Millions	Oct. 01, 2023	Dec. 31, 2022
Overdraft
Loss Contingencies [Line Items]
Facility	$ 7.7	$ 4
Drawn	1.1	0
Bond and Guarantees
Loss Contingencies [Line Items]
Facility	0.6	0.6
Drawn	0.2	0.2
Letters of Credit
Loss Contingencies [Line Items]
Facility	3	2
Drawn	2.2	1.5
Bonding facility for bank guarantees, letter of credit and bank overdrafts
Loss Contingencies [Line Items]
Facility	11.3	6.6
Drawn	$ 3.5	$ 1.7

Pension Settlement (Details)

Pension Settlement (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended
	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 25, 2022	Jul. 02, 2023	Oct. 01, 2023	Sep. 25, 2022
US
Defined Benefit Plan Disclosure [Line Items]
Pension charge		$ (0.2)	$ 9.2		$ 9
Pension charge, cash		$ 2.1	2.3
Derecognition of pension liability			$ 6.9
United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension credit	$ 0.3			$ 0.3		$ 1	$ 1