Luxfer (LXFR) 10-Q 30 Apr 24 2024 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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)	26,842,132
Entity Central Index Key	0001096056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Address, Country	GB

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Apr. 02, 2023
Income Statement [Abstract]
Net sales		$ 89.4	$ 101.3
Cost of goods sold		(71)	(80.2)
Gross profit		18.4	21.1
Selling, general and administrative expenses		(11.6)	(12.5)
Research and development		(1.2)	(1.2)
Restructuring charges		(0.7)	(0.3)
Acquisition and disposal related costs		(0.2)	0
Other income		0.2	0
Operating income		4.9	7.1
Interest expense		(1.4)	(1.3)
Defined benefit pension credit / (charge)		0.3	(8.9)
Income / (loss) before income taxes		3.8	(3.1)
(Provision) / credit for income taxes		(1)	3.6
Net income from continuing operations		2.8	0.5
Net (loss) / income from discontinued operations		(0.1)	0
Net income		$ 2.7	$ 0.5
Earnings per share
Basic from continuing operations (in USD per share)	[1]	$ 0.10	$ 0.02
Basic from discontinued operations (in USD per share)	[1],[2]	0	0
Basic earnings per ordinary share (in USD per share)	[1]	0.10	0.02
Diluted from continuing operations (in USD per share)	[1]	0.10	0.02
Diluted from discontinued operations (in USD per share)	[1],[2]	0	0
Diluted earnings per ordinary share (in USD per share)	[1]	$ 0.10	$ 0.02
Weighted average ordinary shares outstanding
Basic (in shares)		26,820,968	26,921,010
Diluted (in shares)		26,866,976	27,071,494
[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. The loss per share for discontinued operations in the First Quarter of 2024 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
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 2.7	$ 0.5
Other comprehensive (loss) / income
Net change in foreign currency translation adjustment, net of tax	(1.8)	3.4
Pension and post-retirement actuarial gains, net of $0.1 and $4.9 tax, respectively	0.3	6.8
Other comprehensive (loss) / income, net of tax	(1.5)	10.2
Total comprehensive income	$ 1.2	$ 10.7

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Tax on other comprehensive income	$ 0.1	$ 4.9

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 6.8	$ 2.3
Restricted cash	0.3	0.3
Accounts and other receivables, net of allowances of $1.4 and $0.7, respectively	59.9	59.9
Inventories	88.9	95.9
Current assets held-for-sale	27.8	8.9
Other current assets	1.5	1.5
Total current assets	185.2	168.8
Non-current assets
Property, plant and equipment, net	62.7	63.8
Right-of-use assets from operating leases	14.5	15.4
Goodwill	67.2	67.5
Intangibles, net	11.8	12
Deferred tax assets	3.7	3.9
Investments and loans to joint ventures and other affiliates	0.4	0.4
Pensions and other retirement benefits	40.5	40.3
Total assets	386	372.1
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.3	4.6
Accounts payable	30.9	26.5
Accrued liabilities	22.8	20.9
Taxes on income	2.3	0
Current liabilities held-for-sale	8	3.9
Other current liabilities	8	8.9
Total current liabilities	72.3	64.8
Non-current liabilities
Long-term debt	78.1	67.6
Pensions and other retirement benefits	0	0.1
Deferred tax liabilities	10.2	10.2
Other non-current liabilities	15.1	16.8
Total liabilities	175.7	159.5
Shareholders' equity
Additional paid-in capital	223.9	223.5
Treasury shares	(23.3)	(22.9)
Company shares held by ESOP	(0.9)	(0.9)
Retained earnings	103.5	104.3
Accumulated other comprehensive loss	(119.4)	(117.9)
Total shareholders' equity	210.3	212.6
Total liabilities and shareholders' equity	386	372.1
Ordinary shares
Shareholders' equity
Common stock	$ 26.5	$ 26.5
Common stock, shares outstanding (in shares)	28,944,000	28,944,000
Common stock, shares issued (in shares)	28,944,000	28,944,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) $ in Millions	Mar. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares
Accounts and other receivables, net of allowance | $	$ 1.4	$ 0.7
Ordinary shares
Common stock, par value (in GBP per share) | (per share)	$ 0.50
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	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Operating activities
Net income	$ 2.7	$ 0.5
Net (loss) / income from discontinued operations	(0.1)	0
Net income from continuing operations	2.8	0.5
Adjustments to reconcile net income to net cash used by operating activities
Depreciation	2.2	3.1
Amortization of purchased intangible assets	0.2	0.2
Amortization of debt issuance costs	0.1	0.1
Share-based compensation charges	0.6	0.6
Deferred income taxes	0.1	1.2
Defined benefit pension charge	0.3	8.9
Defined benefit pension contributions	0	(2.3)
Changes in assets and liabilities
Accounts and other receivables	(6.9)	(2.3)
Inventories	(8.2)	(17.1)
Current assets held-for-sale	0.7	1.5
Accounts payable	5.7	(2.4)
Accrued liabilities	3.1	(1)
Current liabilities held-for-sale	0.6	(0.9)
Other current liabilities	3.7	(3.5)
Other non-current assets and liabilities	(1.4)	(1)
Net cash provided / (used) by operating activities - continuing	3.6	(14.4)
Net cash provided by operating activities - discontinued	0.1	0
Net cash provided / (used) by operating activities	3.7	(14.4)
Investing activities
Capital expenditures	(1.4)	(2)
Net cash used by investing activities - continuing	(1.4)	(2)
Net cash used by investing activities - discontinued	(0.1)	0
Net cash used by investing activities	(1.5)	(2)
Financing activities
Repayment of bank overdraft	(4.3)	0
Net drawdown of long-term borrowings	10.6	9.9
Repurchase of own shares	(0.4)	(0.8)
Share-based compensation cash paid	(0.1)	(0.3)
Dividends paid	(3.5)	(3.5)	$ (3.5)
Net cash provided by financing activities	2.3	5.3
Effect of exchange rate changes on cash and cash equivalents	0	0.3
Net increase / (decrease)	4.5	(10.8)
Cash, cash equivalents and restricted cash; beginning of year	2.6	12.9	12.9
Cash, cash equivalents and restricted cash; end of the First Quarter	7.1	2.1	$ 2.6
Supplemental cash flow information:
Interest payments	1.4	1.4
Income tax receipts, net	$ 0	$ (0.5)

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
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 income	0.5				0.5
Other comprehensive (loss) / income, 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, 2023	212.6	223.5	$ (22.9)	$ (0.9)	104.3	(117.9)	26.5
Beginning balance (in shares) at Dec. 31, 2023			(1.5)	(0.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2.7				2.7
Other comprehensive (loss) / income, net of tax	(1.5)					(1.5)
Dividends declared	(3.5)				(3.5)
Share-based compensation	0.6	0.6
Share buyback (in shares)			0
Share buyback	(0.4)		$ (0.4)
Utilization of shares from ESOP to satisfy share based compensation	(0.2)	(0.2)		$ 0
Utilization of shares from ESOP to satisfy share based compensation (in shares)				0
Ending balance at Mar. 31, 2024	$ 210.3	$ 223.9	$ (23.3)	$ (0.9)	$ 103.5	$ (119.4)	$ 26.5
Ending balance (in shares) at Mar. 31, 2024			(1.5)	(0.6)

Basis of Presentation and Respo

Basis of Presentation and Responsibility for interim Financial Statements	3 Months Ended
	Mar. 31, 2024
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, 2023. 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 First Quarter 2024, ended on March 31, 2024, and the First Quarter 2023, ended on April 2, 2023. Accounting standards issued but not yet effective In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Improvements to Income Tax Disclosures, which enhances the transparency of income tax disclosures in ASC 740, Income Taxes, primarily related to rate reconciliation and income taxes paid information. The ASU is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The Company is currently assessing the impact on its Consolidated Condensed Financial Statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which improves the reportable segment disclosure requirements in ASC 280, Segment Reporting, primarily through enhanced disclosures about significant expenses. The ASU is effective for fiscal years beginning after December 15, 2023 and early adoption is permitted. The Company is currently assessing the impact on its Consolidated Condensed Financial Statements and related segment disclosures.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2024
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: First Quarter In millions except share and per-share data 2024 2023 Basic earnings: Net income from continuing operations $ 2.8 $ 0.5 Net (loss) / income from discontinued operations (0.1) — Net income $ 2.7 $ 0.5 Weighted average number of £0.50 ordinary shares: For basic earnings per share 26,820,968 26,921,010 Dilutive effect of potential common stock 46,008 150,484 For diluted earnings per share 26,866,976 27,071,494 Earnings / (loss) per share using weighted average number of ordinary shares outstanding (1) : Basic earnings per ordinary share for continuing operations $ 0.10 $ 0.02 Basic (loss) / earnings per ordinary share for discontinued operations — — Basic earnings per ordinary share $ 0.10 $ 0.02 Diluted earnings per ordinary share for continuing operations $ 0.10 $ 0.02 Diluted (loss) / earnings per ordinary share for discontinued operations — — Diluted earnings per ordinary share $ 0.10 $ 0.02 (1) The calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total In the first quarter of 2024, 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	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales Disaggregated sales disclosures for the quarters ended March 31, 2024, and April 2, 2023, are included below and in Note 15, Segmental Information. First Quarter 2024 2023 In millions Gas Cylinders Elektron Graphic Arts Total Gas Cylinders Elektron Graphic Arts Total General industrial $ 5.7 $ 14.0 $ 6.3 $ 26.0 $ 9.5 $ 15.5 $ 7.4 $ 32.4 Transportation 19.1 9.8 — 28.9 13.9 12.8 — 26.7 Defense, First Response & Healthcare 20.6 13.9 — 34.5 18.1 24.1 — 42.2 $ 45.4 $ 37.7 $ 6.3 $ 89.4 $ 41.5 $ 52.4 $ 7.4 $ 101.3

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The $0.7 million (2023: $0.3 million) restructuring charges in the first quarter of 2024, predominantly relates to continued costs aimed at reducing our fixed cost structure and realigning our business. The $0.3 million restructuring charge in 2023 relates solely the costs incurred in streamlining our North American Gas Cylinders business. Restructuring-related costs by reportable segment were as follows: First Quarter In millions 2024 2023 Severance and related costs Gas Cylinders $ 0.5 $ 0.3 Elektron 0.2 — Total restructuring charges $ 0.7 $ 0.3 Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2024 Balance at January 1, $ 3.3 Costs incurred 0.7 Cash payments and other (0.9) Balance at March 31, $ 3.1

Acquisition and disposal relate

Acquisition and disposal related costs	3 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Acquisition and disposal related costs	Acquisition and disposal related costs Disposal-related costs of $0.2 million in the first quarter of 2024 represent professional fees incurred in relation to the planned disposal of the Graphic Arts segment .

Other Income

Other Income	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other income	Other incomeIn December 2023, it was established that any potential liability arising from the lawsuits and reasonable defense costs related to the previously disclosed US Ecology case are covered by insurance. In the first quarter of 2024, the Company recovered $0.2 million in relation to these costs previously incurred by the Company. Further information

Supplementary balance sheet inf

Supplementary balance sheet information	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary balance sheet information	Supplementary balance sheet information March 31, December 31, In millions 2024 2023 Accounts and other receivables Trade receivables $ 52.5 $ 52.3 Related parties 0.1 0.1 Prepayments and accrued income 4.7 5.7 Derivative financial instruments 0.1 0.4 Other receivables 2.5 1.4 Total accounts and other receivables $ 59.9 $ 59.9 Inventories Raw materials and supplies $ 32.7 $ 34.7 Work-in-process 29.2 34.8 Finished goods 27.0 26.4 Total inventories $ 88.9 $ 95.9 Other current assets Income tax receivable 1.5 1.5 Total other current assets $ 1.5 $ 1.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 59.9 $ 51.0 Machinery and equipment 257.5 234.9 Construction in progress 10.4 13.6 Total property, plant and equipment 327.8 299.5 Accumulated depreciation and impairment (265.1) (235.7) Total property, plant and equipment, net $ 62.7 $ 63.8 Current maturities of long-term debt and short-term borrowings Overdrafts 0.3 4.6 Total current maturities of long-term debt and short-term borrowings $ 0.3 $ 4.6 Other current liabilities Restructuring provision $ 3.1 $ 3.3 Short term provision — 0.1 Derivative financial instruments 0.1 — Operating lease liability 3.8 4.7 Advance payments 1.0 0.8 Total other current liabilities $ 8.0 $ 8.9 Other non-current liabilities Contingent liabilities $ 1.8 $ 1.6 Operating lease liability 13.2 15.0 Other non-current liabilities 0.1 0.2 Total other non-current liabilities $ 15.1 $ 16.8

Goodwill and other identifiable

Goodwill and other identifiable intangible assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other identifiable intangible assets	Goodwill and other identifiable intangible assets Changes in goodwill during the first three months ended March 31, 2024, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2024 $ 26.2 $ 41.3 $ 67.5 Exchange difference (0.2) (0.1) (0.3) Net balance at March 31, 2024 $ 26.0 $ 41.2 $ 67.2 Accumulated goodwill impairment losses in relation to continuing activities were $8.0 million as of March 31, 2024 and December 31, 2023. Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2024 $ 15.2 $ 7.8 $ 23.0 Exchange movements — (0.1) (0.1) At March 31, 2024 $ 15.2 $ 7.7 $ 22.9 Accumulated amortization: At January 1, 2024 $ 6.6 $ 4.4 $ 11.0 Provided during the period 0.1 0.1 0.2 Exchange movements — (0.1) (0.1) At March 31, 2024 $ 6.7 $ 4.4 $ 11.1 Net book values: At January 1, 2024 $ 8.6 $ 3.4 $ 12.0 At March 31, 2024 $ 8.5 $ 3.3 $ 11.8 Identifiable intangible asset amortization expense was $0.2 million and $0.2 million for the First Quarters of 2024 and 2023 respectively. Intangible asset amortization expense during each of the following five years is expected to be approximately $0.8 million.

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Debt outstanding was as follows: In millions March 31, 2024 December 31, 2023 4.94% Loan Notes due 2026 $ 25.0 $ 25.0 Revolving credit facility 53.5 43.1 Bank overdraft 0.3 4.6 Unamortized debt issuance costs (0.4) (0.5) Total debt $ 78.4 $ 72.2 Less current portion (0.3) (4.6) Non-current debt $ 78.1 $ 67.6 The weighted-average interest rate on the revolving credit facility was 7.87% for the First Quarter of 2024 and 7.70% for the full-year 2023. 10. 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 March 31, 2024. 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. Senior Facilities Agreement During the first quarter of 2024, we drew down net $10.6 million on the Revolving Credit Facility and the balance outstanding at March 31, 2024, was $53.5 million, and at December 31, 2023, was $43.1 million, with $71.5 million undrawn at March 31, 2024. We have been in compliance with the covenants under the Senior Facilities Agreement throughout all of the quarterly measurement dates to March 31, 2024. Bank Overdraft The bank overdraft is an uncommitted facility with no expiration date, this is reviewed annually and can be cancelled by either the bank or the Company on demand.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2024
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 2024. 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 2024 and 2023. Results of discontinued operations in the first quarter of 2024 and 2023 were as follows: First Quarter In millions 2024 2023 Net sales $ 1.5 $ 2.3 Cost of goods sold (1.1) (1.9) Gross profit $ 0.4 $ 0.4 Selling, general and administrative expenses (0.4) (0.3) Restructuring charges (0.1) (0.1) Operating (loss) / profit $ (0.1) $ — Tax credit / (charge) — — Net (loss) / profit $ (0.1) $ — 11. Discontinued Operations (continued) The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 3.7 $ 3.3 Accounts and other receivables 2.1 2.3 Current assets 5.8 5.6 Right-of-use-assets 1.8 2.1 Held-for-sale assets $ 7.6 $ 7.7 Held-for-sale liabilities Accounts payable 0.8 0.9 Accrued liabilities 0.3 0.4 Other liabilities 2.5 2.6 Held-for-sale liabilities $ 3.6 $ 3.9 There was $0.1m of capital expenditure in the first quarter of 2024 (2023: none), there was no depreciation and amortization or any other significant non-cash items. The total assets and liabilities classified as held-for-sale, including those that qualify as discontinued operations are as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 18.0 $ 3.3 Accounts and other receivables 6.8 2.3 Current assets 24.8 5.6 Property, plant and equipment 1.2 1.2 Right-of-use-assets 1.8 2.1 Non-current assets 3.0 3.3 Total held-for-sale assets $ 27.8 $ 8.9 Held-for-sale liabilities Accounts payable 2.1 0.9 Accrued liabilities 1.9 0.4 Other liabilities 4.0 2.6 Held-for-sale liabilities $ 8.0 $ 3.9 As a result of the Company’s strategic review process announced in October 2023, the Company concluded that its Graphic Arts business no longer aligns with the Company’s overall business and value proposition. In 2024, the Company initiated a sale process for its Graphic Arts business with the intention of divesting this business in 2024.

Held-for-sale assets and liabil

Held-for-sale assets and liabilities	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Held-for-sale assets and liabilities	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 2024. 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 2024 and 2023. Results of discontinued operations in the first quarter of 2024 and 2023 were as follows: First Quarter In millions 2024 2023 Net sales $ 1.5 $ 2.3 Cost of goods sold (1.1) (1.9) Gross profit $ 0.4 $ 0.4 Selling, general and administrative expenses (0.4) (0.3) Restructuring charges (0.1) (0.1) Operating (loss) / profit $ (0.1) $ — Tax credit / (charge) — — Net (loss) / profit $ (0.1) $ — 11. Discontinued Operations (continued) The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 3.7 $ 3.3 Accounts and other receivables 2.1 2.3 Current assets 5.8 5.6 Right-of-use-assets 1.8 2.1 Held-for-sale assets $ 7.6 $ 7.7 Held-for-sale liabilities Accounts payable 0.8 0.9 Accrued liabilities 0.3 0.4 Other liabilities 2.5 2.6 Held-for-sale liabilities $ 3.6 $ 3.9 There was $0.1m of capital expenditure in the first quarter of 2024 (2023: none), there was no depreciation and amortization or any other significant non-cash items. The total assets and liabilities classified as held-for-sale, including those that qualify as discontinued operations are as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 18.0 $ 3.3 Accounts and other receivables 6.8 2.3 Current assets 24.8 5.6 Property, plant and equipment 1.2 1.2 Right-of-use-assets 1.8 2.1 Non-current assets 3.0 3.3 Total held-for-sale assets $ 27.8 $ 8.9 Held-for-sale liabilities Accounts payable 2.1 0.9 Accrued liabilities 1.9 0.4 Other liabilities 4.0 2.6 Held-for-sale liabilities $ 8.0 $ 3.9 As a result of the Company’s strategic review process announced in October 2023, the Company concluded that its Graphic Arts business no longer aligns with the Company’s overall business and value proposition. In 2024, the Company initiated a sale process for its Graphic Arts business with the intention of divesting this business in 2024.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
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 Quarter ended March 31, 2024, was 26.3%, compared to 116.1% for the Quarter ended April 2, 2023. The rate in the prior year was impacted by non-deductible expenses and a deferred tax credit, primarily in relation to the U.S. pension buyout.

Share Plans

Share Plans	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share Plans	Share Plans Total share-based compensation expense for the quarters ended March 31, 2024 and April 2, 2023 was as follows: First Quarter In millions 2024 2023 Total share-based compensation charges $ 0.6 $ 0.6 In March 2024, 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 155,000 and the weighted average fair value of options granted in 2024 was estimated to be $10.44 per share. The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2024 and the year-ended December 31, 2023: First Quarter Year ended December 31, 2024 2023 Dividend yield (%) 3.15 - 3.32 3.15 - 3.32 Expected volatility range (%) 31.54 - 43.49 31.54 - 43.49 Risk-free interest rate (%) 3.67 - 5.16 3.67 - 5.16 Expected life of share options range (years) 1.00 - 4.00 1.00 - 4.00 Forfeiture rate (%) 5.00 5.00 Weighted average exercise price ($) $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	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Dividends paid and proposed First Quarter In millions 2024 2023 Dividends declared and paid during the year: Interim dividend paid February 1, 2023 ($0.130 per ordinary share) $ — $ 3.5 Interim dividend paid February 7, 2024 ($0.130 per ordinary share) 3.5 — $ 3.5 $ 3.5 In millions 2024 2023 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared April 3, 2023, and to be paid May 3, 2023 ($0.130 per ordinary share) $ — $ 3.5 Interim dividend declared April 9, 2024, and to be paid May 8, 2024 ($0.130 per ordinary share) 3.5 — $ 3.5 $ 3.5

Segmental Information

Segmental Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segmental Information	Segmental Information We classify our operations into business segments, 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 five identified business units, which aggregate into three reportable segments within continuing operations, and one within discontinued operations. Luxfer Gas Cylinders forms the Gas Cylinders segment, and Luxfer MEL Technologies and Luxfer Magtech aggregate into the Elektron segment. As of December 31, 2023, it was determined that the Luxfer Graphic Arts reporting segment no longer met the criteria, specifically, similar economic characteristics, to be aggregated within the Elektron segment for 2023. As a result, Luxfer Graphic Arts has been disaggregated from the Elektron segment and is being reported separately as the Graphic Arts segment. The Elektron segment's results for 2023 have been adjusted to exclude Graphic Arts' results. Our Superform business unit used to aggregate into the Gas Cylinders segment but is now recognized within discontinued operations. A summary of the operations of the segments within continuing operations is provided below: Gas Cylinders segment Our Gas Cylinders segment manufactures and markets specialized highly-engineered cylinders, using composites and aluminum alloys, 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 applications. 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; and high-performance zirconium-based materials and oxides used as catalysts and in the manufacture of advances ceramics, fiber-optic fuel cells, and many other performance products. Graphic Arts segment Our Graphic Arts segment provides a full range of pre-sensitized magnesium, copper and zinc plates, along with associated chemicals, for the production of foil-stamping and embossing dies. In addition, non-sensitized polished brass and magnesium plates are also manufactured for computer numerical control ('CNC') engraving. The segment also advises on turnkey engraving operations, complete with etching machines, computer-to-plate ('CtP') machines, exposure units and film setters. Other Other, as used below, primarily represents unallocated corporate expense and includes non-service related defined benefit pension credit / cost. 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, the CEO, who is responsible for allocating resources and assessing performance of the operating segments, using adjusted EBITA (1) and adjusted EBITDA, which is defined as segment income, and is based on operating income adjusted for share-based compensation charges; restructuring charges; acquisitions and disposals costs; and depreciation and amortization. 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 Quarters ended March 31, 2024, and April 2, 2023, is included in the following summary: Net sales Adjusted EBITDA First Quarter First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 45.4 $ 41.5 $ 4.1 $ 2.5 Elektron segment 37.7 52.4 6.4 9.5 Graphic Arts segment 6.3 7.4 (1.7) (0.7) Consolidated $ 89.4 $ 101.3 $ 8.8 $ 11.3 (1) Adjusted EBITA is adjusted EBITDA less depreciation and loss on disposal of property, plant and equipment. 15. Segmental Information (continued) Depreciation and amortization Restructuring charges First Quarter First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 0.8 $ 1.1 $ 0.5 $ 0.3 Elektron segment 1.6 1.7 0.2 — Graphic Arts segment — 0.5 — — Consolidated $ 2.4 $ 3.3 $ 0.7 $ 0.3 Total assets Capital expenditures March 31, December 31, First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 137.8 $ 131.0 $ 0.8 $ 0.3 Elektron segment 167.3 162.4 0.7 1.6 Graphic Arts segment 19.0 19.6 — 0.1 Other 54.3 51.3 — — Discontinued operations 7.6 7.8 — (0.1) Consolidated $ 386.0 $ 372.1 $ 1.5 $ 1.9 Property, plant and equipment, net First Quarter December 31, In millions 2024 2023 U.S. $ 26.3 $ 26.8 United Kingdom 32.1 32.8 Canada 3.0 2.9 Rest of Europe 1.0 1.0 Asia Pacific 0.3 0.3 $ 62.7 $ 63.8 The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: First Quarter In millions 2024 2023 Adjusted EBITDA $ 8.8 $ 11.3 Other share-based compensation charges (0.6) (0.6) Depreciation and amortization (2.4) (3.3) Restructuring charges (0.7) (0.3) Acquisition and disposal related costs (0.2) — Defined benefits pension credit / (charge) 0.3 (8.9) Interest expense, net (1.4) (1.3) Net income / (loss) before income taxes from continuing operations $ 3.8 $ (3.1) 15. Segmental Information (continued) The following tables present certain geographic information by geographic region for the First Quarter ended March 31, 2024, and April 2, 2023: Net Sales (1) First Quarter 2024 2023 $M Percent $M Percent United States $ 53.2 59.6 % $ 57.7 57.0 % Germany 5.4 6.0 % 6.3 6.2 % U.K. 4.3 4.8 % 5.6 5.5 % Canada 4.0 4.5 % 1.8 1.8 % Japan 3.7 4.1 % 4.5 4.4 % Top five countries $ 70.6 79.0 % $ 75.9 74.9 % Rest of Europe 12.1 13.5 % 13.0 12.8 % Asia Pacific 3.6 4.0 % 9.1 9.0 % Other (2) 3.1 3.5 % 3.3 3.3 % $ 89.4 $ 101.3 (1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America the Middle East and Africa.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023. Of these committed facilities, $53.5 million was drawn at March 31, 2024 and $43.1 million at December 31, 2023. The Company also had an additional $25.0 million of uncommitted facilities through an accordion provision at March 31, 2024 and December 31, 2023. Uncommitted Facilities March 31, 2024 December 31, 2023 Facility Drawn Facility Drawn Bond and Guarantees $ 0.6 $ 0.2 $ 0.6 $ 0.2 Letters of Credit 4.0 2.2 4.0 2.2 Overdraft 7.8 0.3 7.8 4.6 $ 12.4 $ 2.7 $ 12.4 $ 7.0 Contingencies In November 2018, an alleged explosion occurred at a third-party waste disposal and treatment site in Grand View, Idaho, reportedly causing property damage, personal injury, and one fatality. The Company had contracted with a service company for removal and disposal of certain waste resulting from the magnesium powder manufacturing operations at the Reade facility in Manchester, New Jersey. The Company believes this service company, in turn, 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. The three lawsuits were administratively consolidated and, to date, two lawsuits remain ongoing. The Company believes that we are not liable for the incident, have asserted such, and, in conjunction with our insurers, continue to fully defend the Company against these lawsuits. Therefore, we do not currently expect any eventual outcome in these matters to have a material impact on the Company's financial position or results of operations. In December 2023, it was established that any potential liability arising from the lawsuits and reasonable defense costs related thereto are covered by insurance. Negotiations as to recovery of historic defense costs are ongoing, and therefore the Company has not recognized any asset with respect to said recovery as of March 31, 2023. The Company recognized $0.2 million realizable other income in the quarter with respect to historic defense costs previously incurred by the Company. An additional $1.3 million was realized in April 2024 and will be reflected in the Company's second quarter financial statements.

Pension Settlement

Pension Settlement	3 Months Ended
	Mar. 31, 2024
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. This was partially offset by a $0.3 million defined benefit credit on the U.K. pension plan.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In April 2024, the Company received an additional $1.3 million in relation to the recovery of historic defense costs for the aforementioned legal case in Note 16 and will be reflected in the Company's second quarter financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net income	$ 2.7	$ 0.5

Insider Trading Arrangements

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

Basis of Presentation and Res_2

Basis of Presentation and Responsibility for interim Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2024
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, 2023. 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 First Quarter 2024, ended on March 31, 2024, and the First Quarter 2023, ended on April 2, 2023.
Accounting standards issued but not yet effective	Accounting standards issued but not yet effective In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Improvements to Income Tax Disclosures, which enhances the transparency of income tax disclosures in ASC 740, Income Taxes, primarily related to rate reconciliation and income taxes paid information. The ASU is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The Company is currently assessing the impact on its Consolidated Condensed Financial Statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which improves the reportable segment disclosure requirements in ASC 280, Segment Reporting, primarily through enhanced disclosures about significant expenses. The ASU is effective for fiscal years beginning after December 15, 2023 and early adoption is permitted. The Company is currently assessing the impact on its Consolidated Condensed Financial Statements and related segment disclosures.

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Basic and diluted earnings per share were calculated as follows: First Quarter In millions except share and per-share data 2024 2023 Basic earnings: Net income from continuing operations $ 2.8 $ 0.5 Net (loss) / income from discontinued operations (0.1) — Net income $ 2.7 $ 0.5 Weighted average number of £0.50 ordinary shares: For basic earnings per share 26,820,968 26,921,010 Dilutive effect of potential common stock 46,008 150,484 For diluted earnings per share 26,866,976 27,071,494 Earnings / (loss) per share using weighted average number of ordinary shares outstanding (1) : Basic earnings per ordinary share for continuing operations $ 0.10 $ 0.02 Basic (loss) / earnings per ordinary share for discontinued operations — — Basic earnings per ordinary share $ 0.10 $ 0.02 Diluted earnings per ordinary share for continuing operations $ 0.10 $ 0.02 Diluted (loss) / earnings per ordinary share for discontinued operations — — Diluted earnings per ordinary share $ 0.10 $ 0.02 (1) The calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total

Net Sales (Tables)

Net Sales (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregated sales disclosures for the quarters ended March 31, 2024, and April 2, 2023, are included below and in Note 15, Segmental Information. First Quarter 2024 2023 In millions Gas Cylinders Elektron Graphic Arts Total Gas Cylinders Elektron Graphic Arts Total General industrial $ 5.7 $ 14.0 $ 6.3 $ 26.0 $ 9.5 $ 15.5 $ 7.4 $ 32.4 Transportation 19.1 9.8 — 28.9 13.9 12.8 — 26.7 Defense, First Response & Healthcare 20.6 13.9 — 34.5 18.1 24.1 — 42.2 $ 45.4 $ 37.7 $ 6.3 $ 89.4 $ 41.5 $ 52.4 $ 7.4 $ 101.3

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Related Costs	Restructuring-related costs by reportable segment were as follows: First Quarter In millions 2024 2023 Severance and related costs Gas Cylinders $ 0.5 $ 0.3 Elektron 0.2 — Total restructuring charges $ 0.7 $ 0.3
Schedule of Restructuring Reserve	Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows: In millions 2024 Balance at January 1, $ 3.3 Costs incurred 0.7 Cash payments and other (0.9) Balance at March 31, $ 3.1

Supplementary balance sheet i_2

Supplementary balance sheet information (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Balance Sheet	Supplementary balance sheet information March 31, December 31, In millions 2024 2023 Accounts and other receivables Trade receivables $ 52.5 $ 52.3 Related parties 0.1 0.1 Prepayments and accrued income 4.7 5.7 Derivative financial instruments 0.1 0.4 Other receivables 2.5 1.4 Total accounts and other receivables $ 59.9 $ 59.9 Inventories Raw materials and supplies $ 32.7 $ 34.7 Work-in-process 29.2 34.8 Finished goods 27.0 26.4 Total inventories $ 88.9 $ 95.9 Other current assets Income tax receivable 1.5 1.5 Total other current assets $ 1.5 $ 1.5 Property, plant and equipment, net Land, buildings and leasehold improvements $ 59.9 $ 51.0 Machinery and equipment 257.5 234.9 Construction in progress 10.4 13.6 Total property, plant and equipment 327.8 299.5 Accumulated depreciation and impairment (265.1) (235.7) Total property, plant and equipment, net $ 62.7 $ 63.8 Current maturities of long-term debt and short-term borrowings Overdrafts 0.3 4.6 Total current maturities of long-term debt and short-term borrowings $ 0.3 $ 4.6 Other current liabilities Restructuring provision $ 3.1 $ 3.3 Short term provision — 0.1 Derivative financial instruments 0.1 — Operating lease liability 3.8 4.7 Advance payments 1.0 0.8 Total other current liabilities $ 8.0 $ 8.9 Other non-current liabilities Contingent liabilities $ 1.8 $ 1.6 Operating lease liability 13.2 15.0 Other non-current liabilities 0.1 0.2 Total other non-current liabilities $ 15.1 $ 16.8

Goodwill and other identifiab_2

Goodwill and other identifiable intangible assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill during the first three months ended March 31, 2024, were as follows: In millions Gas Cylinders Elektron Total At January 1, 2024 $ 26.2 $ 41.3 $ 67.5 Exchange difference (0.2) (0.1) (0.3) Net balance at March 31, 2024 $ 26.0 $ 41.2 $ 67.2
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following: In millions Customer relationships Technology and trading related Total Cost: At January 1, 2024 $ 15.2 $ 7.8 $ 23.0 Exchange movements — (0.1) (0.1) At March 31, 2024 $ 15.2 $ 7.7 $ 22.9 Accumulated amortization: At January 1, 2024 $ 6.6 $ 4.4 $ 11.0 Provided during the period 0.1 0.1 0.2 Exchange movements — (0.1) (0.1) At March 31, 2024 $ 6.7 $ 4.4 $ 11.1 Net book values: At January 1, 2024 $ 8.6 $ 3.4 $ 12.0 At March 31, 2024 $ 8.5 $ 3.3 $ 11.8

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt outstanding was as follows: In millions March 31, 2024 December 31, 2023 4.94% Loan Notes due 2026 $ 25.0 $ 25.0 Revolving credit facility 53.5 43.1 Bank overdraft 0.3 4.6 Unamortized debt issuance costs (0.4) (0.5) Total debt $ 78.4 $ 72.2 Less current portion (0.3) (4.6) Non-current debt $ 78.1 $ 67.6

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Discontinued Operations	Results of discontinued operations in the first quarter of 2024 and 2023 were as follows: First Quarter In millions 2024 2023 Net sales $ 1.5 $ 2.3 Cost of goods sold (1.1) (1.9) Gross profit $ 0.4 $ 0.4 Selling, general and administrative expenses (0.4) (0.3) Restructuring charges (0.1) (0.1) Operating (loss) / profit $ (0.1) $ — Tax credit / (charge) — — Net (loss) / profit $ (0.1) $ — The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 3.7 $ 3.3 Accounts and other receivables 2.1 2.3 Current assets 5.8 5.6 Right-of-use-assets 1.8 2.1 Held-for-sale assets $ 7.6 $ 7.7 Held-for-sale liabilities Accounts payable 0.8 0.9 Accrued liabilities 0.3 0.4 Other liabilities 2.5 2.6 Held-for-sale liabilities $ 3.6 $ 3.9 The total assets and liabilities classified as held-for-sale, including those that qualify as discontinued operations are as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 18.0 $ 3.3 Accounts and other receivables 6.8 2.3 Current assets 24.8 5.6 Property, plant and equipment 1.2 1.2 Right-of-use-assets 1.8 2.1 Non-current assets 3.0 3.3 Total held-for-sale assets $ 27.8 $ 8.9 Held-for-sale liabilities Accounts payable 2.1 0.9 Accrued liabilities 1.9 0.4 Other liabilities 4.0 2.6 Held-for-sale liabilities $ 8.0 $ 3.9

Held-for-sale assets and liab_2

Held-for-sale assets and liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Current Held-for-Sale Assets and Liabilities	Results of discontinued operations in the first quarter of 2024 and 2023 were as follows: First Quarter In millions 2024 2023 Net sales $ 1.5 $ 2.3 Cost of goods sold (1.1) (1.9) Gross profit $ 0.4 $ 0.4 Selling, general and administrative expenses (0.4) (0.3) Restructuring charges (0.1) (0.1) Operating (loss) / profit $ (0.1) $ — Tax credit / (charge) — — Net (loss) / profit $ (0.1) $ — The assets and liabilities classified as held-for-sale related to discontinued operations were as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 3.7 $ 3.3 Accounts and other receivables 2.1 2.3 Current assets 5.8 5.6 Right-of-use-assets 1.8 2.1 Held-for-sale assets $ 7.6 $ 7.7 Held-for-sale liabilities Accounts payable 0.8 0.9 Accrued liabilities 0.3 0.4 Other liabilities 2.5 2.6 Held-for-sale liabilities $ 3.6 $ 3.9 The total assets and liabilities classified as held-for-sale, including those that qualify as discontinued operations are as follows: Held-for-sale assets March 31, December 31, In millions 2024 2023 Inventory $ 18.0 $ 3.3 Accounts and other receivables 6.8 2.3 Current assets 24.8 5.6 Property, plant and equipment 1.2 1.2 Right-of-use-assets 1.8 2.1 Non-current assets 3.0 3.3 Total held-for-sale assets $ 27.8 $ 8.9 Held-for-sale liabilities Accounts payable 2.1 0.9 Accrued liabilities 1.9 0.4 Other liabilities 4.0 2.6 Held-for-sale liabilities $ 8.0 $ 3.9

Share Plans (Tables)

Share Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Total share-based compensation expense for the quarters ended March 31, 2024 and April 2, 2023 was as follows: First Quarter In millions 2024 2023 Total share-based compensation charges $ 0.6 $ 0.6
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2024 and the year-ended December 31, 2023: First Quarter Year ended December 31, 2024 2023 Dividend yield (%) 3.15 - 3.32 3.15 - 3.32 Expected volatility range (%) 31.54 - 43.49 31.54 - 43.49 Risk-free interest rate (%) 3.67 - 5.16 3.67 - 5.16 Expected life of share options range (years) 1.00 - 4.00 1.00 - 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)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Dividends Paid and Proposed	First Quarter In millions 2024 2023 Dividends declared and paid during the year: Interim dividend paid February 1, 2023 ($0.130 per ordinary share) $ — $ 3.5 Interim dividend paid February 7, 2024 ($0.130 per ordinary share) 3.5 — $ 3.5 $ 3.5 In millions 2024 2023 Dividends declared and paid after the quarter end (not recognized as a liability at the quarter end): Interim dividend declared April 3, 2023, and to be paid May 3, 2023 ($0.130 per ordinary share) $ — $ 3.5 Interim dividend declared April 9, 2024, and to be paid May 8, 2024 ($0.130 per ordinary share) 3.5 — $ 3.5 $ 3.5

Segmental Information (Tables)

Segmental Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by reportable segment for the Quarters ended March 31, 2024, and April 2, 2023, is included in the following summary: Net sales Adjusted EBITDA First Quarter First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 45.4 $ 41.5 $ 4.1 $ 2.5 Elektron segment 37.7 52.4 6.4 9.5 Graphic Arts segment 6.3 7.4 (1.7) (0.7) Consolidated $ 89.4 $ 101.3 $ 8.8 $ 11.3 (1) Adjusted EBITA is adjusted EBITDA less depreciation and loss on disposal of property, plant and equipment. 15. Segmental Information (continued) Depreciation and amortization Restructuring charges First Quarter First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 0.8 $ 1.1 $ 0.5 $ 0.3 Elektron segment 1.6 1.7 0.2 — Graphic Arts segment — 0.5 — — Consolidated $ 2.4 $ 3.3 $ 0.7 $ 0.3 Total assets Capital expenditures March 31, December 31, First Quarter In millions 2024 2023 2024 2023 Gas Cylinders segment $ 137.8 $ 131.0 $ 0.8 $ 0.3 Elektron segment 167.3 162.4 0.7 1.6 Graphic Arts segment 19.0 19.6 — 0.1 Other 54.3 51.3 — — Discontinued operations 7.6 7.8 — (0.1) Consolidated $ 386.0 $ 372.1 $ 1.5 $ 1.9
Property, Plant and Equipment, Net by Geographic Region	Property, plant and equipment, net First Quarter December 31, In millions 2024 2023 U.S. $ 26.3 $ 26.8 United Kingdom 32.1 32.8 Canada 3.0 2.9 Rest of Europe 1.0 1.0 Asia Pacific 0.3 0.3 $ 62.7 $ 63.8
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents a reconciliation of Adjusted EBITDA to net income from continuing operations: First Quarter In millions 2024 2023 Adjusted EBITDA $ 8.8 $ 11.3 Other share-based compensation charges (0.6) (0.6) Depreciation and amortization (2.4) (3.3) Restructuring charges (0.7) (0.3) Acquisition and disposal related costs (0.2) — Defined benefits pension credit / (charge) 0.3 (8.9) Interest expense, net (1.4) (1.3) Net income / (loss) before income taxes from continuing operations $ 3.8 $ (3.1)
Revenue from External Customers and Long-term Assets by Geographic Areas	The following tables present certain geographic information by geographic region for the First Quarter ended March 31, 2024, and April 2, 2023: Net Sales (1) First Quarter 2024 2023 $M Percent $M Percent United States $ 53.2 59.6 % $ 57.7 57.0 % Germany 5.4 6.0 % 6.3 6.2 % U.K. 4.3 4.8 % 5.6 5.5 % Canada 4.0 4.5 % 1.8 1.8 % Japan 3.7 4.1 % 4.5 4.4 % Top five countries $ 70.6 79.0 % $ 75.9 74.9 % Rest of Europe 12.1 13.5 % 13.0 12.8 % Asia Pacific 3.6 4.0 % 9.1 9.0 % Other (2) 3.1 3.5 % 3.3 3.3 % $ 89.4 $ 101.3 (1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America the Middle East and Africa.

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Uncommitted Facilities	Uncommitted Facilities March 31, 2024 December 31, 2023 Facility Drawn Facility Drawn Bond and Guarantees $ 0.6 $ 0.2 $ 0.6 $ 0.2 Letters of Credit 4.0 2.2 4.0 2.2 Overdraft 7.8 0.3 7.8 4.6 $ 12.4 $ 2.7 $ 12.4 $ 7.0

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Millions		3 Months Ended
		Mar. 31, 2024 USD ($) $ / shares shares	Apr. 02, 2023 USD ($) $ / shares shares	Mar. 31, 2024 £ / shares	Dec. 31, 2023 £ / shares
Basic earnings:
Net income from continuing operations | $		$ 2.8	$ 0.5
Net (loss) / income from discontinued operations | $		(0.1)	0
Net income | $		$ 2.7	$ 0.5
Weighted average number of £0.50 ordinary shares:
For basic earnings per share (in shares) | shares		26,820,968	26,921,010
Dilutive effect of potential common stock (in shares) | shares		46,008	150,484
For diluted earnings per share (in shares) | shares		26,866,976	27,071,494
Earnings / (loss) per share using weighted average number of ordinary shares outstanding
Basic earnings per ordinary share for continuing operations (in USD per share)	[1]	$ 0.10	$ 0.02
Basic earnings/(loss) per ordinary share for discontinued operations (in USD per share)	[1],[2]	0	0
Basic earnings per ordinary share (in USD per share)	[1]	0.10	0.02
Diluted earnings per ordinary share for continuing operations (in USD per share)	[1]	0.10	0.02
Diluted earnings/(loss) per ordinary share for discontinued operations (in USD per share)	[1],[2]	0	0
Diluted earnings per ordinary share (in USD per share)	[1]	0.10	0.02
Ordinary shares
Basic earnings:
Common stock, par value (in GBP per share) | (per share)		$ 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. The loss per share for discontinued operations in the First Quarter of 2024 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
	Mar. 31, 2024	Apr. 02, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 89.4	$ 101.3
General industrial
Disaggregation of Revenue [Line Items]
Net sales	26	32.4
Transportation
Disaggregation of Revenue [Line Items]
Net sales	28.9	26.7
Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	34.5	42.2
Gas Cylinders
Disaggregation of Revenue [Line Items]
Net sales	45.4	41.5
Gas Cylinders | General industrial
Disaggregation of Revenue [Line Items]
Net sales	5.7	9.5
Gas Cylinders | Transportation
Disaggregation of Revenue [Line Items]
Net sales	19.1	13.9
Gas Cylinders | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	20.6	18.1
Elektron
Disaggregation of Revenue [Line Items]
Net sales	37.7	52.4
Elektron | General industrial
Disaggregation of Revenue [Line Items]
Net sales	14	15.5
Elektron | Transportation
Disaggregation of Revenue [Line Items]
Net sales	9.8	12.8
Elektron | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	13.9	24.1
Graphic Arts
Disaggregation of Revenue [Line Items]
Net sales	6.3	7.4
Graphic Arts | General industrial
Disaggregation of Revenue [Line Items]
Net sales	6.3	7.4
Graphic Arts | Transportation
Disaggregation of Revenue [Line Items]
Net sales	0	0
Graphic Arts | Defense, First Response & Healthcare
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0.7	$ 0.3
Gas Cylinders
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 0.3

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0.7	$ 0.3
Other restructuring
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0.7	0.3
Gas Cylinders
Restructuring Cost and Reserve [Line Items]
Total restructuring charges			$ 0.3
Gas Cylinders | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	0.5	0.3
Elektron | Other restructuring
Restructuring Cost and Reserve [Line Items]
Severance and related costs	$ 0.2	$ 0

Restructuring - Schedule of R_2

Restructuring - Schedule of Restructuring Reserve (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3.3
Costs incurred	0.7
Cash payments and other	(0.9)
Ending balance	$ 3.1

Acquisition and disposal rela_2

Acquisition and disposal related costs - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Asset Acquisition [Line Items]
Acquisition and disposal related costs	$ 0.2	$ 0
Graphic Arts
Asset Acquisition [Line Items]
Acquisition and disposal related costs	$ 0.2

Other Income (Details)

Other Income (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Other Income and Expenses [Abstract]
Insurance recoveries	$ 0.2

Supplementary balance sheet i_3

Supplementary balance sheet information - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts and other receivables
Trade receivables	$ 52.5	$ 52.3
Prepayments and accrued income	4.7	5.7
Derivative financial instruments	0.1	0.4
Total accounts and other receivables	59.9	59.9
Inventories
Raw materials and supplies	32.7	34.7
Work-in-process	29.2	34.8
Finished goods	27	26.4
Total inventories	88.9	95.9
Other current assets
Income tax receivable	1.5	1.5
Total other current assets	1.5	1.5
Property, plant and equipment, net
Total property, plant and equipment	327.8	299.5
Accumulated depreciation and impairment	(265.1)	(235.7)
Total property, plant and equipment, net	62.7	63.8
Current maturities of long-term debt and short-term borrowings
Overdrafts	0.3	4.6
Total current maturities of long-term debt and short-term borrowings	0.3	4.6
Other current liabilities
Restructuring provision	3.1	3.3
Short term provision	0	0.1
Derivative financial instruments	0.1	0
Operating lease liability	3.8	4.7
Advance payments	1	0.8
Total other current liabilities	$ 8	$ 8.9
Operating lease, liability, current, statement of financial position [extensible enumeration]	Total other current liabilities	Total other current liabilities
Other non-current liabilities
Contingent liabilities	$ 1.8	$ 1.6
Operating lease liability	13.2	15
Other non-current liabilities	0.1	0.2
Total other non-current liabilities	$ 15.1	$ 16.8
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
Related parties	$ 0.1	$ 0.1
Other receivables	0.1	0.1
Nonrelated Party
Accounts and other receivables
Related parties	2.5	1.4
Other receivables	2.5	1.4
Land, buildings and leasehold improvements
Property, plant and equipment, net
Total property, plant and equipment	59.9	51
Machinery and equipment
Property, plant and equipment, net
Total property, plant and equipment	257.5	234.9
Construction in progress
Property, plant and equipment, net
Total property, plant and equipment	$ 10.4	$ 13.6

Goodwill and other identifiab_3

Goodwill and other identifiable intangible assets - Schedule of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 67.5
Exchange difference	(0.3)
Ending balance	67.2
Gas Cylinders
Goodwill [Roll Forward]
Beginning balance	26.2
Exchange difference	(0.2)
Ending balance	26
Elektron
Goodwill [Roll Forward]
Beginning balance	41.3
Exchange difference	(0.1)
Ending balance	$ 41.2

Goodwill and other identifiab_4

Goodwill and other identifiable intangible assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 8		$ 8
Amortization of intangible assets	$ 0.2	$ 0.2
Useful life	5 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	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Cost:
At period start	$ 23
Exchange movements	(0.1)
At period end	22.9
Accumulated amortization:
Accumulated amortization, beginning balance	11
Amortization of purchased intangible assets	0.2	$ 0.2
Exchange movements	(0.1)
Accumulated amortization, ending balance	11.1
Net book values:	11.8		$ 12
Customer relationships
Cost:
At period start	15.2
Exchange movements	0
At period end	15.2
Accumulated amortization:
Accumulated amortization, beginning balance	6.6
Amortization of purchased intangible assets	0.1
Exchange movements	0
Accumulated amortization, ending balance	6.7
Net book values:	8.5		8.6
Technology and trading related
Cost:
At period start	7.8
Exchange movements	(0.1)
At period end	7.7
Accumulated amortization:
Accumulated amortization, beginning balance	4.4
Amortization of purchased intangible assets	0.1
Exchange movements	(0.1)
Accumulated amortization, ending balance	4.4
Net book values:	$ 3.3		$ 3.4

Debt - Schedule of Debt Outstan

Debt - Schedule of Debt Outstanding (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (0.4)	$ (0.5)
Total debt	78.4	72.2
Less current portion	(0.3)	(4.6)
Non-current debt	78.1	67.6
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	53.5	43.1
Overdraft
Debt Instrument [Line Items]
Long-term debt, gross	$ 0.3	4.6
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	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt, weighted average interest rate	7.87%	7.70%
Amount drew down during the period, on line of credit	$ 10.6
Long-term debt, gross	53.5	$ 43.1
Borrowing capacity	$ 71.5

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - Discontinued Operations, Held-for-sale - Superform Aluminum Superplastic - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 1.5	$ 2.3
Cost of goods sold	(1.1)	(1.9)
Gross profit	0.4	0.4
Selling, general and administrative expenses	(0.4)	(0.3)
Restructuring charges	(0.1)	(0.1)
Operating (loss) / profit	(0.1)	0
Tax credit / (charge)	0	0
Net (loss) / profit	$ (0.1)	$ 0

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Held-for-sale assets
Current assets	$ 27.8	$ 8.9
Held-for-sale liabilities
Held-for-sale liabilities	8	3.9
Discontinued operations | Superform Aluminum Superplastic
Held-for-sale assets
Inventory	3.7	3.3
Accounts and other receivables	2.1	2.3
Current assets	5.8	5.6
Right-of-use-assets	1.8	2.1
Held-for-sale assets	7.6	7.7
Held-for-sale liabilities
Accounts payable	0.8	0.9
Accrued liabilities	0.3	0.4
Other liabilities	2.5	2.6
Held-for-sale liabilities	$ 3.6	$ 3.9

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - Superform U.S Business - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditure, discontinued operations	$ 0.1	$ 0
Depreciation and amortization, discontinued operations	$ 0

Held-for-sale assets and liab_3

Held-for-sale assets and liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Held-for-sale assets
Current assets	$ 27.8	$ 8.9
Property, plant and equipment	1.2	1.2
Non-current assets	3	3.3
Held-for-sale liabilities
Held-for-sale liabilities	8	3.9
Held-for-sale | Graphic Arts
Held-for-sale assets
Inventory	18	3.3
Accounts and other receivables	6.8	2.3
Current assets	24.8	5.6
Right-of-use-assets	1.8	2.1
Held-for-sale assets	27.8	8.9
Held-for-sale liabilities
Accounts payable	2.1	0.9
Accrued liabilities	1.9	0.4
Other liabilities	4	2.6
Held-for-sale liabilities	$ 8	$ 3.9

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	26.30%	116.10%

Share Plans - Schedule of Share

Share Plans - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Share-Based Payment Arrangement [Abstract]
Total share-based compensation charges	$ 0.6	$ 0.6

Share Plans - Additional Inform

Share Plans - Additional Information (Details) - Luxfer Holdings PLC Long-Term Umbrella Incentive Plan	1 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted during the period (in shares) | shares	155,000
Weighted average fair value of options granted (in USD per share) | $ / shares	$ 10.44

Share Plans - Schedule of Sha_2

Share Plans - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range (%), minimum	31.54%	31.54%
Expected volatility range (%), maximum	43.49%	43.49%
Risk-free interest rate (%), minimum	3.67%	3.67%
Risk-free interest rate (%), maximum	5.16%	5.16%
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%	3.15%
Expected life of share options range (years)	1 year	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (%)	3.32%	3.32%
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		12 Months Ended
	May 08, 2024	Feb. 07, 2024	May 03, 2023	Feb. 01, 2023	Nov. 03, 2021	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Dividends paid (in USD per share)		$ 0.130		$ 0.130	$ 0.130
Dividends paid		$ 3.5	$ 3.5	$ 3.5		$ 3.5	$ 3.5	$ 3.5
Forecast
Class of Stock [Line Items]
Dividends paid (in USD per share)	$ 0.130
Dividends payable	$ 3.5

Segmental Information - Additio

Segmental Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 businessUnit segment
Segment Reporting [Abstract]
Number of operating divisions | businessUnit	5
Number of reportable segments	3
Number of discontinued operations	1

Segmental Information - Financi

Segmental Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 89.4	$ 101.3
Adjusted EBITDA	8.8	11.3
Depreciation and amortization	2.4	3.3
Restructuring charges	0.7	0.3
Total assets	386		$ 372.1
Capital expenditures	1.5	1.9
Discontinued operations
Segment Reporting Information [Line Items]
Total assets	7.6		7.8
Capital expenditures	0	(0.1)
Gas Cylinders
Segment Reporting Information [Line Items]
Net sales	45.4	41.5
Elektron
Segment Reporting Information [Line Items]
Net sales	37.7	52.4
Graphic Arts
Segment Reporting Information [Line Items]
Net sales	6.3	7.4
Operating Segments | Gas Cylinders
Segment Reporting Information [Line Items]
Net sales	45.4	41.5
Adjusted EBITDA	4.1	2.5
Depreciation and amortization	0.8	1.1
Restructuring charges	0.5	0.3
Total assets	137.8		131
Capital expenditures	0.8	0.3
Operating Segments | Elektron
Segment Reporting Information [Line Items]
Net sales	37.7	52.4
Adjusted EBITDA	6.4	9.5
Depreciation and amortization	1.6	1.7
Restructuring charges	0.2	0
Total assets	167.3		162.4
Capital expenditures	0.7	1.6
Operating Segments | Graphic Arts
Segment Reporting Information [Line Items]
Net sales	6.3	7.4
Adjusted EBITDA	(1.7)	(0.7)
Depreciation and amortization	0	0.5
Restructuring charges	0	0
Total assets	19		19.6
Capital expenditures	0	0.1
Other
Segment Reporting Information [Line Items]
Total assets	54.3		$ 51.3
Capital expenditures	$ 0	$ 0

Segmental Information - Propert

Segmental Information - Property, Plant and Equipment by Geographic Region (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 62.7	$ 63.8
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	26.3	26.8
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	32.1	32.8
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	3	2.9
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
	Mar. 31, 2024	Apr. 02, 2023
Segment Reporting [Abstract]
Adjusted EBITDA	$ 8.8	$ 11.3
Other share-based compensation charges	(0.6)	(0.6)
Depreciation and amortization	(2.4)	(3.3)
Restructuring charges	(0.7)	(0.3)
Acquisition and disposal related costs	(0.2)	0
Defined benefits pension credit / (charge)	0.3	(8.9)
Interest expense, net	(1.4)	(1.3)
Net income / (loss) before income taxes from continuing operations	$ 3.8	$ (3.1)

Segmental Information - Revenue

Segmental Information - Revenue and Assets by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 89.4	$ 101.3
Top five countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 70.6	$ 75.9
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	79%	74.90%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 53.2	$ 57.7
United States | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	59.60%	57%
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 5.4	$ 6.3
Germany | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	6%	6.20%
U.K.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4.3	$ 5.6
U.K. | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.80%	5.50%
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4	$ 1.8
Canada | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.50%	1.80%
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3.7	$ 4.5
Japan | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4.10%	4.40%
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 12.1	$ 13
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	13.50%	12.80%
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3.6	$ 9.1
Asia Pacific | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	4%	9%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3.1	$ 3.3
Other | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	3.50%	3.30%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) lawsuit	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Number of lawsuits		3
Number of lawsuits administratively consolidated		3
Ongoing number of lawsuits		2
Insurance recoveries | $		$ 0.2
Subsequent Event
Loss Contingencies [Line Items]
Insurance recoveries | $	$ 1.3
Disposal Company
Loss Contingencies [Line Items]
Number of lawsuits		1
Estate of Descendent
Loss Contingencies [Line Items]
Number of lawsuits		1
Injured Employee
Loss Contingencies [Line Items]
Number of lawsuits		1
Revolving credit facility
Loss Contingencies [Line Items]
Long-term debt, gross | $		$ 53.5	$ 43.1
Uncommitted accordion facility | $		25
Committed banking facilities
Loss Contingencies [Line Items]
Debt maximum borrowing capacity | $		$ 125

Commitment and Contingencies -

Commitment and Contingencies - Schedule of Uncommitted Facilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Overdraft
Other Commitments [Line Items]
Facility	$ 7.8	$ 7.8
Drawn	0.3	4.6
Bond and Guarantees
Other Commitments [Line Items]
Facility	0.6	0.6
Drawn	0.2	0.2
Letters of Credit
Other Commitments [Line Items]
Facility	4	4
Drawn	2.2	2.2
Bonding facility for bank guarantees, letter of credit and bank overdrafts
Other Commitments [Line Items]
Facility	12.4	12.4
Drawn	$ 2.7	$ 7

Pension Settlement - Additional

Pension Settlement - Additional Information (Details) $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($)
U.S. / other
Defined Benefit Plan Disclosure [Line Items]
Pension charge	$ 9.2
Pension charge, cash	2.3
Derecognition of pension liability	6.9
U.K.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension credit	$ 0.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Insurance recoveries		$ 0.2
Subsequent Event
Subsequent Event [Line Items]
Insurance recoveries	$ 1.3