Element Solutions (ESI) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36272
Entity Registrant Name	Element Solutions Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1744899
Entity Address, Street Name	500 East Broward Boulevard, Suite 1860
Entity Address, Postal Zip Code	33394
Entity Address, City	Fort Lauderdale,
Entity Address, State	FL
City Area Code	561
Local Phone Number	207-9600
Title of each class	Common Stock, par value $0.01 per share
Trading symbol(s)	ESI
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		242,162,633
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001590714
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 645	$ 599.3	$ 1,832.7	$ 1,759.8
Cost of sales	377.5	357.4	1,053	1,061.6
Gross profit	267.5	241.9	779.7	698.2
Operating expenses:
Selling, technical, general and administrative	157.6	149.9	462.1	445.8
Research and development	14.9	12.9	48.6	54.3
Goodwill impairment	0	80	0	80
Total operating expenses	172.5	242.8	510.7	580.1
Operating profit (loss)	95	(0.9)	269	118.1
Other (expense) income:
Interest expense, net	(14.2)	(13.3)	(42.4)	(37)
Foreign exchange gains (losses)	11.1	(5.3)	24	8.6
Other (expense) income, net	(14.7)	3.1	(29.7)	1.8
Total other expense	(17.8)	(15.5)	(48.1)	(26.6)
Income (loss) before income taxes and non-controlling interests	77.2	(16.4)	220.9	91.5
Income tax expense	(36.8)	(15.3)	(32.8)	(53.4)
Net income (loss) from continuing operations	40.4	(31.7)	188.1	38.1
Income from discontinued operations, net of tax	0	0	1.6	2.9
Net income (loss)	40.4	(31.7)	189.7	41
Net income attributable to non-controlling interests	(0.1)	(0.1)	(0.2)	0
Net income (loss) attributable to common stockholders	$ 40.3	$ (31.8)	$ 189.5	$ 41
Earnings (loss) per share
Basic from continuing operations (in dollars per share)	$ 0.17	$ (0.13)	$ 0.77	$ 0.16
Basic from discontinued operations (in dollars per share)	0	0	0.01	0.01
Basic attributable to common stockholders (in dollars per share)	0.17	(0.13)	0.78	0.17
Diluted from continuing operations (in dollars per share)	0.17	(0.13)	0.77	0.16
Diluted from discontinued operations (in dollars per share)	0	0	0.01	0.01
Diluted attributable to common stockholders (in dollars per share)	$ 0.17	$ (0.13)	$ 0.78	$ 0.17
Weighted average common shares outstanding
Basic (in shares)	242.1	241.5	242	241.4
Diluted (in shares)	242.6	241.5	242.5	241.8

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 40.4	$ (31.7)	$ 189.7	$ 41
Foreign currency translation:
Other comprehensive income (loss) before reclassifications, net of tax (benefit) expense of $(8.9) million and $0.6 for the three months ended September 30, 2024 and 2023 and $(0.9) and $0.6 for the nine months ended September 30, 2024 and 2023, respectively	65.2	(21.8)	(9.5)	(80.4)
Total foreign currency translation adjustments	65.2	(21.8)	(9.5)	(80.4)
Available-for-sale debt securities:
Other comprehensive income (loss) before reclassifications, net of tax expense of $0.0 for the three and nine months ended September 30, 2024 and 2023, respectively	0	0	0.2	(1)
Reclassifications, net of tax expense of $0.0 for the three and nine months ended September 30, 2024 and 2023, respectively	(0.2)	0	(0.2)	0
Total unrealized loss on available-for-sale debt securities	(0.2)	0	0	(1)
Derivative financial instruments:
Other comprehensive (loss) income before reclassifications, net of tax (benefit) expense of $(5.3) and $(0.7) for the three months ended September 30, 2024 and 2023 and $1.1 and $(1.6) for the nine months ended September 30, 2024 and 2023, respectively	(17.2)	7.3	3.5	20.5
Reclassifications, net of tax expense of $2.0 and $0.0 for the three months ended September 30, 2024 and 2023 and $5.7 and $0.0 for the nine months ended September 30, 2024 and 2023, respectively	(6.6)	(10.8)	(20.2)	(28.6)
Total unrealized loss on qualified hedging derivatives	(23.8)	(3.5)	(16.7)	(8.1)
Other comprehensive income (loss)	41.2	(25.3)	(26.2)	(89.5)
Comprehensive income (loss)	81.6	(57)	163.5	(48.5)
Comprehensive loss attributable to non-controlling interests	0	0	0	0.5
Comprehensive income (loss) attributable to common stockholders	$ 81.6	$ (57)	$ 163.5	$ (48)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign currency translation:
Before reclassifications, tax expense (benefit)	$ (8.9)	$ 0.6	$ (0.9)	$ 0.6
Available-for-sale debt securities:
Before reclassifications, tax expense	0	0	0	0
Reclassifications, tax expense	0	0	0	0
Derivative financial instruments:
Before reclassifications, tax expense (benefit)	(5.3)	(0.7)	1.1	(1.6)
Reclassifications, tax expense	$ 2	$ 0	$ 5.7	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 376	$ 289.3
Accounts receivable, net of allowance for doubtful accounts of $10.6 and $12.6 at September 30, 2024 and December 31, 2023, respectively	474.9	461.8
Inventories	285.7	298.9
Prepaid expenses	28.2	32.5
Other current assets	116.4	115
Current assets held for sale	70	0
Total current assets	1,351.2	1,197.5
Property, plant and equipment, net	273.9	296.9
Goodwill	2,220.2	2,336.7
Intangible assets, net	782.2	879.3
Deferred income tax assets	159.3	120.5
Other assets	120	143.2
Non-current assets held for sale	191.4	0
Total assets	5,098.2	4,974.1
Liabilities and stockholders' equity
Accounts payable	127.1	140.6
Current installments of long-term debt	11.5	11.5
Accrued expenses and other current liabilities	228.8	217.3
Current liabilities held for sale	16.6	0
Total current liabilities	384	369.4
Debt	1,914.7	1,921
Pension and post-retirement benefits	24.4	28.1
Deferred income tax liabilities	105.6	108.9
Other liabilities	198.5	202.4
Non-current liabilities held for sale	16.3	0
Total liabilities	2,643.5	2,629.8
Commitments and contingencies (Note $9)
Stockholders' equity
Common stock: 400.0 shares authorized (2024: 267.1 shares issued; 2023: 266.2 shares issued)	2.7	2.7
Additional paid-in capital	4,210.4	4,196.9
Treasury stock (2024: 25.0 shares; 2023: 24.6 shares)	(349.5)	(341.9)
Accumulated deficit	(1,052.4)	(1,183.3)
Accumulated other comprehensive loss	(371.9)	(345.9)
Total stockholders' equity	2,439.3	2,328.5
Non-controlling interests	15.4	15.8
Total equity	2,454.7	2,344.3
Total liabilities and stockholders' equity	$ 5,098.2	$ 4,974.1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Allowance for doubtful accounts, current	$ 10.6	$ 12.6
Stockholders' equity
Common shares authorized (in shares)	400,000,000	400,000,000
Common shares issued (in shares)	267,100,000	266,200,000
Treasury shares (in shares)	25,000,000	24,600,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 189.7	$ 41
Net income from discontinued operations, net of tax	1.6	2.9
Net income from continuing operations	188.1	38.1
Reconciliations of net income to net cash flows provided by operating activities:
Depreciation and amortization	119.8	124.7
Deferred income taxes	(33.6)	(8.1)
Foreign exchange gains	(24.9)	(10.5)
Incentive stock compensation	11.5	10.6
Goodwill impairment	0	80
Other, net	18.6	25.8
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(44.4)	(6.6)
Inventories	(21.4)	(37.2)
Accounts payable	(0.1)	13.3
Accrued expenses	17.9	(8)
Prepaid expenses and other current assets	(3.5)	3.4
Other assets and liabilities	(4.7)	(3.7)
Net cash flows provided by operating activities	223.3	221.8
Cash flows from investing activities:
Capital expenditures	(46.1)	(36.3)
Proceeds from disposal of property, plant and equipment	0	1.4
Acquisitions, net of cash acquired	(3.9)	(188.6)
Other, net	(6.4)	(2.7)
Net cash flows used in investing activities	(56.4)	(226.2)
Cash flows from financing activities:
Debt proceeds	0	150
Repayments of borrowings	(8.6)	(8.6)
Dividends	(58.8)	(58.1)
Payment of financing fees	(2.1)	(1)
Other, net	(12.8)	(7.7)
Net cash flows (used in) provided by financing activities	(82.3)	74.6
Net cash flows provided by operating activities of discontinued operations	1.6	2.9
Effect of exchange rate changes on cash and cash equivalents	0.5	(9.1)
Net increase in cash and cash equivalents	86.7	64
Cash and cash equivalents at beginning of period	289.3	265.6
Cash and cash equivalents at end of period	$ 376	$ 329.6

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Non- controlling Interests
Common Stock, Beginning Balance (in shares) at Dec. 31, 2022			265,062,533
Beginning Balance at Dec. 31, 2022	$ 2,349.1	$ 2,332.5	$ 2.7	$ 4,185.9	$ (334.2)	$ (1,223.8)	$ (298.1)	$ 16.6
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2022					24,272,748
Increase (Decrease) in Stockholders' Equity
Net (loss) income	41	41				41
Other comprehensive income (loss), net of taxes	(89.5)	(89)					(89)	(0.5)
Exercise/ vesting of share based compensation (in shares)			1,038,192		372,007
Exercise/ vesting of share based compensation	(7.7)	(7.7)			$ (7.7)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			60,344
Issuance of common stock under Employee Stock Purchase Plan	1	1		1
Dividends	(58.4)	(58.4)				(58.4)
Equity compensation expense	10.8	10.8		10.8
Changes in non-controlling interests	(0.1)							(0.1)
Common Stock, Ending Balance (in shares) at Sep. 30, 2023			266,161,069
Ending Balance at Sep. 30, 2023	2,246.2	2,230.2	$ 2.7	4,197.7	$ (341.9)	(1,241.2)	(387.1)	16
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2023					24,644,755
Common Stock, Beginning Balance (in shares) at Jun. 30, 2023			266,130,782
Beginning Balance at Jun. 30, 2023	2,319.7	2,303.5	$ 2.7	4,194.4	$ (341.8)	(1,189.9)	(361.9)	16.2
Treasury Stock, Beginning Balance (in shares) at Jun. 30, 2023					24,641,709
Increase (Decrease) in Stockholders' Equity
Net (loss) income	(31.7)	(31.8)				(31.8)		0.1
Other comprehensive income (loss), net of taxes	(25.3)	(25.2)					(25.2)	(0.1)
Exercise/ vesting of share based compensation (in shares)			10,107		3,046
Exercise/ vesting of share based compensation	(0.1)	(0.1)			$ (0.1)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			20,180
Issuance of common stock under Employee Stock Purchase Plan	0.3	0.3		0.3
Dividends	(19.5)	(19.5)				(19.5)
Equity compensation expense	3	3		3
Changes in non-controlling interests	(0.2)							(0.2)
Common Stock, Ending Balance (in shares) at Sep. 30, 2023			266,161,069
Ending Balance at Sep. 30, 2023	2,246.2	2,230.2	$ 2.7	4,197.7	$ (341.9)	(1,241.2)	(387.1)	16
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2023					24,644,755
Common Stock, Beginning Balance (in shares) at Dec. 31, 2023			266,179,100
Beginning Balance at Dec. 31, 2023	$ 2,344.3	2,328.5	$ 2.7	4,196.9	$ (341.9)	(1,183.3)	(345.9)	15.8
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2023	24,600,000				24,644,755
Increase (Decrease) in Stockholders' Equity
Net (loss) income	$ 189.7	189.5				189.5		0.2
Other comprehensive income (loss), net of taxes	(26.2)	(26)					(26)	(0.2)
Exercise/ vesting of share based compensation (in shares)			904,295		326,456
Exercise/ vesting of share based compensation	(7.4)	(7.4)		0.2	$ (7.6)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			50,449
Issuance of common stock under Employee Stock Purchase Plan	1	1		1
Dividends	(58.6)	(58.6)				(58.6)
Equity compensation expense	11.7	11.7		11.7
Changes in non-controlling interests	0.2	0.6		0.6				(0.4)
Common Stock, Ending Balance (in shares) at Sep. 30, 2024			267,133,844
Ending Balance at Sep. 30, 2024	$ 2,454.7	2,439.3	$ 2.7	4,210.4	$ (349.5)	(1,052.4)	(371.9)	15.4
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2024	25,000,000				24,971,211
Common Stock, Beginning Balance (in shares) at Jun. 30, 2024			267,112,209
Beginning Balance at Jun. 30, 2024	$ 2,388.7	2,373.1	$ 2.7	4,206.2	$ (349.4)	(1,073.2)	(413.2)	15.6
Treasury Stock, Beginning Balance (in shares) at Jun. 30, 2024					24,969,801
Increase (Decrease) in Stockholders' Equity
Net (loss) income	40.4	40.3				40.3		0.1
Other comprehensive income (loss), net of taxes	41.2	41.3					41.3	(0.1)
Exercise/ vesting of share based compensation (in shares)			4,494		1,410
Exercise/ vesting of share based compensation	(0.1)	(0.1)			$ (0.1)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			17,141
Issuance of common stock under Employee Stock Purchase Plan	0.4	0.4		0.4
Dividends	(19.5)	(19.5)				(19.5)
Equity compensation expense	3.8	3.8		3.8
Changes in non-controlling interests	(0.2)							(0.2)
Common Stock, Ending Balance (in shares) at Sep. 30, 2024			267,133,844
Ending Balance at Sep. 30, 2024	$ 2,454.7	$ 2,439.3	$ 2.7	$ 4,210.4	$ (349.5)	$ (1,052.4)	$ (371.9)	$ 15.4
Treasury Stock, Ending Balance (in shares) at Sep. 30, 2024	25,000,000				24,971,211

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.08	$ 0.08	$ 0.24	$ 0.24

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION Background Element Solutions was incorporated in Delaware in January 2014 and its shares of common stock, par value $0.01 per share, trade on the New York Stock Exchange under the ticker symbol “ESI.” Element Solutions is a leading global specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy. Element Solutions businesses provide products that, in substantially all cases, are consumed by customers as part of their production process, providing the Company with reliable and recurring revenue streams as the products are replenished in order to continue production. Element Solutions delivers its products to customers through its sales and service workforce, regional distributors and manufacturing representatives. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP and include the accounts of Element Solutions and all of its controlled subsidiaries. The Company consolidates the income, expenses, assets, liabilities and cash flows of its subsidiaries from the date it acquires control or becomes the primary beneficiary. All intercompany accounts and transactions have been eliminated upon consolidation. In preparing the unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management uses estimates and assumptions that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Management applies judgment based on its understanding and analysis of the relevant circumstances, including historical experience and future expectations. These judgments, by their nature, are subject to an inherent degree of uncertainty and, accordingly, actual results could differ significantly from these estimates and assumptions. These unaudited Condensed Consolidated Financial Statements reflect all adjustments that are normal, recurring and necessary for a fair statement of the Company's financial position, results of operations and cash flows for interim periods, but are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2024. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Company's Consolidated Financial Statements and related notes included in its 2023 Annual Report. Certain prior year amounts have been reclassified to conform to the current year’s presentation.

HELD FOR SALE

HELD FOR SALE	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
HELD FOR SALE	HELD FOR SALE MGS Transaction On September 1, 2024, the Company entered into an agreement to sell its flexographic printing plate business, MacDermid Graphics Solutions, for approximately $325 million. MacDermid Graphics Solutions constitutes substantially all of the Company’s Graphics Solutions business within its Industrial & Specialty segment. The transaction is expected to close in the fourth quarter of 2024 or the first half of 2025, subject to customary closing conditions, adjustments and regulatory approvals. The pending disposition met the accounting criteria to be classified as held for sale but did not meet the criteria to be reported as discontinued operations. As a result, the assets and liabilities of MacDermid Graphics Solutions are classified as held for sale in the Condensed Consolidated Balance Sheets and depreciation and amortization ceased as of September 1, 2024. The Company compared the expected proceeds from the transaction less costs to sell to the carrying value of MacDermid Graphics Solutions and determined that its fair value exceeded its carrying value. The major components of MacDermid Graphics Solutions' assets and liabilities classified as held for sale were as follows: (dollars in millions) September 30, 2024 Assets held for sale: Accounts receivable, net $ 29.8 Inventories 33.4 Other current assets 6.8 Current assets held for sale $ 70.0 Property, plant and equipment, net 35.0 Goodwill 130.4 Intangible assets, net 11.2 Other assets 14.8 Non-current assets held for sale $ 191.4 Liabilities held for sale: Accounts payable $ 8.1 Accrued expenses and other current liabilities 8.5 Current liabilities held for sale $ 16.6 Other liabilities 16.3 Non-current liabilities held for sale $ 16.3

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The major components of inventory, on a net basis, were as follows: (dollars in millions) September 30, 2024 December 31, 2023 Finished goods $ 158.1 $ 176.2 Work in process 46.1 37.5 Raw materials and supplies 81.5 85.2 Total inventories $ 285.7 $ 298.9

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET The major components of property, plant and equipment, net were as follows: (dollars in millions) September 30, 2024 December 31, 2023 Land and leasehold improvements $ 50.8 $ 51.7 Buildings and improvements 175.4 168.5 Machinery, equipment, fixtures and software 312.8 334.3 Construction in process 56.4 66.7 Total property, plant and equipment 595.4 621.2 Accumulated depreciation (321.5) (324.3) Property, plant and equipment, net $ 273.9 $ 296.9

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NET	GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The changes in the carrying amount of goodwill by segment were as follows: (dollars in millions) Electronics Industrial & Specialty Total Balance at December 31, 2023 $ 1,298.7 $ 1,038.0 (1) $ 2,336.7 Held for sale (2) — (130.4) (130.4) Foreign currency translation and other 6.3 7.6 13.9 Balance at September 30, 2024 $ 1,305.0 $ 915.2 (3) $ 2,220.2 (1) Includes accumulated impairment losses of $127 million. (2) As a result of the MGS Transaction, MacDermid Graphics Solutions' assets and liabilities, including goodwill, were classified as held for sale in the Condensed Consolidated Balance Sheets as of September 30, 2024. Goodwill held for sale includes accumulated impairment losses of $80.0 million. See Note 2, Held for Sale, to the unaudited Condensed Consolidated Financial Statements for further information regarding the MGS Transaction. (3) Includes accumulated impairment losses of $46.6 million. Goodwill is tested for impairment at the reporting unit level in the fourth quarter of each year or when events or changes in circumstances indicate that goodwill might be impaired. During the third quarter of 2023, given the lower-than-expected results of the Graphics Solutions reporting unit, the Company determined that it was more likely than not that the fair value of this reporting unit was less than its carrying value. As a result, the Company conducted an interim goodwill impairment test using the same quantitative methodologies used for its 2022 annual goodwill impairment test (as described in Note 2, Summary of Significant Accounting Policies, to the Consolidated Financial Statements to the 2022 Annual Report). This quantitative test confirmed that goodwill was impaired and the Company recorded an $80.0 million impairment charge in the Condensed Consolidated Statement of Operations to reduce the carrying value of this reporting unit to its estimated fair value. This impairment charge was primarily driven by the reduction of the expected long-term cash flows for the business due to profit margin pressures from raw material inflation across the packaging supply chain, the loss of a significant newspaper customer and a higher WACC as compared to the assumptions used for the 2022 annual goodwill impairment test. After recording the impairment, the carrying value of the Graphics Solutions reporting unit was equal to its estimated fair value. As of September 30, 2024, the goodwill assigned to the Graphics Solutions reporting unit was reported as an asset held for sale. See Note 2, Held for Sale , to the unaudited Condensed Consolidated Financial Statements for further information. Intangible Assets, Net The major components of intangible assets, net were as follows: September 30, 2024 December 31, 2023 (dollars in millions) Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book Customer relationships $ 865.5 $ (451.9) $ 413.6 $ 978.4 $ (505.9) $ 472.5 Developed technology 303.7 (233.3) 70.4 410.0 (316.2) 93.8 Trade names 96.3 (36.5) 59.8 95.9 (30.9) 65.0 Reacquired distribution rights 187.0 (16.6) 170.4 187.0 (7.3) 179.7 Other — — — 0.8 (0.5) 0.3 Indefinite-lived trade name 68.0 — 68.0 68.0 — 68.0 Total $ 1,520.5 $ (738.3) $ 782.2 $ 1,740.1 $ (860.8) $ 879.3 For the three months ended September 30, 2024 and 2023, the Company recorded amortization expense on intangible assets of $29.4 million and $32.7 million, respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded amortization expense on intangible assets of $89.4 million and $93.3 million, respectively. In the first quarter of 2024, one of the product qualification milestones agreed to as part of the Kuprion Acquisition was achieved. As a result, the Company made a payment of $3.9 million, which was recognized as research and development expense in the Condensed Consolidated Statement of Operations as the technology did not yet meet the accounting definition of an asset. The payment was included in "Acquisitions, net of cash acquired" in the Condensed Consolidated Statements of Cash Flows as a cash outflow from investing activities.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The Company’s debt obligations consisted of the following: (dollars in millions) Maturity Date Interest Rate September 30, 2024 December 31, 2023 Term Loans (1) 2030 SOFR plus 2.00% $ 1,132.6 $ 1,140.2 Senior Notes - $800 million (2) 2028 3.875% 793.6 792.3 Total debt 1,926.2 1,932.5 Less: current installments of long-term debt 11.5 11.5 Total long-term debt $ 1,914.7 $ 1,921.0 (1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at September 30, 2024 and December 31, 2023, respectively. The effective interest rate was 3.3% at September 30, 2024 and December 31, 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 7, Financial Instruments, to the unaudited Condensed Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges. (2) Senior notes, net of unamortized debt issuance costs of $6.4 million and $7.7 million at September 30, 2024 and December 31, 2023, respectively. The effective interest rate was 4.1% at September 30, 2024 and December 31, 2023, respectively. Credit Agreement The Company is a party to the Credit Agreement which, as of September 30, 2024, provided for senior secured credit facilities in an initial aggregate principal amount of $1.53 billion, consisting of term loans B-2 of $1.15 billion, maturing in 2030, and a revolving credit facility of $375 million, maturing in 2027. As of September 30, 2024, the Company's outstanding term loans B-2 bore interest at a per annum rate based on an adjusted one-month SOFR (as described in the Credit Agreement) plus a spread of 2.00%. The Company is required to pay a commitment fee on any undrawn portion of the revolving credit facility which is not material. Subsequent Event On October 15, 2024, the Company completed the syndication of $1.04 billion of new term loans B-3 which resulted in an interest rate reduction of 25 basis points to SOFR plus a spread of 1.75% per annum. In connection with this repricing, the Company fully paid down its $1.14 billion term loans B-2, therefore reducing its borrowings under the Credit Agreement by $100 million. The Company also terminated $100 million notional of the interest rate swaps and cross-currency swaps that would have matured in January 2025. The net proceeds of the new term loans and cash on hand were used to prepay in full the Company's term loans B-2. Except as indicated above, the new term loans B-3 have substantially the same terms as the term loans B-2, including a maturity date of December 2030. Guarantees, Covenants and Events of Default The obligations of the borrowers (the Company and its subsidiary, MacDermid, Incorporated) under the Credit Agreement are guaranteed, jointly and severally, by certain of their domestic subsidiaries and secured by a first-priority security interest in substantially all of their assets and the assets of the guarantors, including mortgages on material real property, subject to certain exceptions. The Credit Agreement contains customary representations and warranties and affirmative and negative covenants, including limitations on additional indebtedness, dividends, and other distributions, entry into new lines of business, use of loan proceeds, capital expenditures, restricted payments, restrictions on liens on the assets of the borrowers or any guarantor, transactions with affiliates, amendments to organizational documents, accounting changes, sale and leaseback transactions and dispositions. Subject to certain exceptions, to the extent the borrowers have total outstanding borrowings under the revolving credit facility greater than 30% of the commitment amount under the revolving credit facility, the Company's first lien net leverage ratio should not exceed 5.0 to 1.0, subject to a right to cure. The borrowers are required to make mandatory prepayments of borrowings, subject to certain exceptions, as described in the Credit Agreement. In addition, the Credit Agreement contains customary events of default that include, among others, non-payment of principal, interest or fees, violation of covenants, inaccuracy of representations and warranties, failure to make payment on, or defaults with respect to, certain other material indebtedness, bankruptcy and insolvency events, material judgments and change of control provisions. Upon the occurrence of an event of default, and after the expiration of any applicable grace period, payment of any outstanding loans under the Credit Agreement may be accelerated and the lenders could foreclose on their security interests in the assets of the borrowers and the guarantors. At September 30, 2024, the Company was in compliance with the debt covenants contained in the Credit Agreement and had full availability of its unused borrowing capacity of $369 million, net of letters of credit, under the revolving credit facility. Senior Notes 3.875% USD Notes due 2028 The indenture governing the 3.875% USD Notes due 2028 provides for, among other things, customary affirmative and negative covenants, events of default and other customary provisions. The notes accrue interest at a rate of 3.875% per annum, payable semi-annually in arrears, on March 1 and September 1 of each year, and will mature on September 1, 2028, unless earlier repurchased or redeemed. Pursuant to the indenture, the Company has the option to redeem the 3.875% USD Notes due 2028 prior to their maturity, subject to, in certain cases, the payment of an applicable make-whole premium, or to repurchase them by any means other than a redemption, including by tender offer, open market purchases or negotiated transactions. The 3.875% USD Notes due 2028 are fully and unconditionally guaranteed on a senior unsecured basis by generally all of the Company’s domestic subsidiaries that guarantee the obligations of the borrowers under the Credit Agreement. Lines of Credit and Other Debt Facilities The Company has access to various revolving lines of credit, short-term debt facilities and overdraft facilities worldwide which are used to fund short-term cash needs. There were no material amounts outstanding under such facilities at September 30, 2024 and December 31, 2023, respectively. The Company had letters of credit outstanding of $6.2 million at September 30, 2024 and December 31, 2023, respectively, of which $6.2 million at September 30, 2024 and December 31, 2023, respectively, reduced the borrowings available under the various facilities. At September 30, 2024 and December 31, 2023, the availability under these facilities totaled approximately $391 million and $392 million, respectively, net of outstanding letters of credit.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Derivatives and Hedging In the normal course of business, the Company is exposed to risks relating to changes in interest rates, foreign currency exchange rates and commodity prices. Derivative financial instruments, such as interest rate swaps, net investment hedges, foreign currency exchange forward contracts and commodities derivative contracts are used to manage the risks associated with changes in the conditions of those markets. The counterparties to the Company’s derivative agreements are primarily major international financial institutions. The Company regularly monitors its derivative positions and the credit ratings of its counterparties and does not anticipate nonperformance on their part. All derivatives are recognized in the Consolidated Balance Sheets at fair value. Realized gains and losses on foreign currency forward contracts, commodity derivative contracts and the net periodic payments from interest rate swaps and cross-currency swaps are reflected as "Cash flows from operating activities" in the Condensed Consolidated Statement of Cash Flows. Interest Rate and Cross-Currency Swaps The Company uses interest rate swaps and cross-currency swaps to reduce its exposure to interest rate risk and foreign currency risk. The Company has designated its interest rate swaps as cash flow hedges and its cross-currency swaps as net investment hedges of the foreign currency exposure of a portion of its net investment in euro functional subsidiaries. These swaps effectively convert the Company's outstanding term loans, which are U.S. dollar denominated debt obligations, into fixed-rate euro-denominated debt through their respective expiration dates. The total notional value of the interest rate swaps and cross-currency swaps was $1.14 billion and $1.15 billion at September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024, approximately $387 million in notional value matures in January 2025 and the remaining balance in December 2028. The net result of these hedges is an interest rate of approximately 3.3% at September 30, 2024 on the term loans B-2, which could vary in the future due to changes in the euro and the U.S. dollar exchange rate. Changes in the estimated fair value of interest rate swaps are recorded in "Accumulated other comprehensive loss" and reclassified to "Interest expense, net" in the Condensed Consolidated Statements of Operations as the underlying hedged item affects earnings. The fair value of the interest rate swaps was a net liability of $7.7 million and a net asset of $11.9 million at September 30, 2024 and December 31, 2023, respectively. Changes in the estimated fair value of cross-currency swaps are recorded in "Foreign currency translation" in "Accumulated other comprehensive loss." The fair value of the cross-currency swaps was a net asset of $0.9 million and $4.8 million at September 30, 2024 and December 31, 2023, respectively. For the three and nine months ended September 30, 2024, these interest rate swaps and cross-currency swaps were deemed highly effective. The Company expects to reclassify a $6.2 million benefit from "Accumulated other comprehensive loss" to "Interest expense, net" in the Condensed Consolidated Statements of Operations within the next twelve months. Foreign Currency The Company conducts a significant portion of its business in currencies other than the U.S. dollar and certain subsidiaries conduct business in currencies other than their functional currency, which is typically their local currency. As a result, the Company’s operating results are impacted by foreign currency exchange rate volatility. At September 30, 2024, the Company held foreign currency forward contracts to purchase and sell various currencies to mitigate foreign currency exposure primarily with the U.S. dollar, euro and British pound. The Company has not designated any foreign currency exchange forward contracts as eligible for hedge accounting and, as a result, changes in the fair value of foreign currency forward contracts are recorded in the Condensed Consolidated Statements of Operations as "Other (expense) income, net." The total notional value of foreign currency exchange forward contracts held at September 30, 2024 and December 31, 2023 was approximately $114 million and $93.9 million, respectively, with settlement dates generally within one year. The fair value of the foreign currency forward contracts was a net current liability of $0.9 million and $0.7 million at September 30, 2024 and December 31, 2023, respectively. Commodities The Company enters into commodity derivative contracts for the purpose of mitigating its exposure to fluctuations in prices of certain metals used in the production of its finished goods. The Company held derivative contracts to purchase and sell various metals, primarily tin and silver, for a notional amount of $76.8 million and $63.8 million at September 30, 2024 and December 31, 2023, respectively. The fair value of the metals derivative contracts was a net current liability of $4.2 million and $1.2 million at September 30, 2024 and December 31, 2023, respectively. Substantially all contracts outstanding at September 30, 2024 have delivery dates within one year. The Company has not designated these derivatives as hedging instruments and, accordingly, records changes in their fair values in the Condensed Consolidated Statements of Operations as "Other (expense) income, net." Fair Value Measurements The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis: (dollars in millions) Balance sheet location Classification September 30, 2024 December 31, 2023 Asset Category Foreign exchange contracts Other current assets Level 2 $ — $ 0.2 Metals contracts Other current assets Level 2 0.4 0.5 Interest rate swaps Other current assets Level 2 6.2 19.9 Cross-currency swaps Other current assets Level 2 20.9 5.9 Interest rate swaps Other assets Level 2 — 4.3 Cross-currency swaps Other assets Level 2 — 9.6 Available-for-sale debt securities Other assets Level 3 — 14.2 Total $ 27.5 $ 54.6 Liability Category Foreign exchange contracts Accrued expenses and other current liabilities Level 2 $ 0.9 $ 0.9 Metals contracts Accrued expenses and other current liabilities Level 2 4.6 1.7 Cross-currency swaps Accrued expenses and other current liabilities Level 2 — 0.9 Interest rate swaps Other liabilities Level 2 13.9 12.3 Cross-currency swaps Other liabilities Level 2 20.0 9.8 Total $ 39.4 $ 25.6 The fair values of Level 1 and Level 2 derivative assets and liabilities are determined using pricing models based upon observable market inputs, such as market spot and futures prices on over-the-counter derivative instruments, market interest rates and consideration of counterparty credit risk. Level 3 investments are valued using a probability weighted methodology based on possible outcomes of potential liquidity events. Significant assumptions include the enterprise valuation, the timing and type of liquidation events and the risk-free interest rate. There were no significant transfers of financial instruments between the fair value hierarchy levels for the three and nine months ended September 30, 2024. The carrying value and estimated fair value of the Company’s long-term debt totaled $1.93 billion and $1.91 billion, respectively, at September 30, 2024. At December 31, 2023, the carrying value and estimated fair value totaled $1.93 billion and $1.89 billion, respectively. The carrying values noted above include unamortized discounts and debt issuance costs. The estimated fair value of long-term debt is measured using quoted market prices for similar instruments at the reporting date multiplied by the gross carrying amount of the related debt, which excludes unamortized discounts and debt issuance costs. Such instruments are valued using Level 2 inputs. Non-Recurring Fair Value Measurement As a result of the goodwill impairment test conducted in the third quarter of 2023, the Industrial & Specialty segment recorded an impairment charge of $80.0 million to reduce the carrying value of the Graphics Solutions reporting unit to its estimated fair value. This measurement was performed on a non-recurring basis as of August 31, 2023 using significant unobservable inputs (Level 3), including the applicable discount rate (WACC) of 10.5% and the short and long-term projected cash flows, such as future growth rates, of the Graphics Solutions reporting unit. See Note 5, Goodwill and Intangible Assets, Net, to the unaudited Condensed Consolidated Financial Statements for further information.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE A computation of weighted average shares of the Company's common stock outstanding and earnings (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per share amounts) 2024 2023 2024 2023 Net income (loss) from continuing operations $ 40.4 $ (31.7) $ 188.1 $ 38.1 Net income attributable to non-controlling interests (0.1) (0.1) (0.2) — Net income (loss) attributable to common stockholders $ 40.3 $ (31.8) $ 187.9 $ 38.1 Basic weighted average common shares outstanding 242.1 241.5 242.0 241.4 Denominator adjustments for diluted EPS: Number of stock options and RSUs 0.5 — 0.5 0.4 Denominator adjustments for diluted EPS 0.5 — 0.5 0.4 Diluted weighted average common shares outstanding 242.6 241.5 242.5 241.8 Earnings (loss) per share attributable to common stockholders: Basic $ 0.17 $ (0.13) $ 0.77 $ 0.16 Diluted $ 0.17 $ (0.13) $ 0.77 $ 0.16 For the three and nine months ended September 30, 2024 and 2023, the following securities were not included in the computation of diluted shares outstanding because either the effect would be anti-dilutive or the applicable performance targets were not yet met: Three Months Ended Nine Months Ended September 30, September 30, (shares in millions) 2024 2023 2024 2023 Shares issuable upon vesting of RSUs and exercise of stock options 3.4 3.3 3.4 3.7

CONTINGENCIES, ENVIRONMENTAL AN

CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS	CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS Environmental Matters The Company is involved in various claims relating to environmental matters at current and former plants and waste management sites. At certain of these sites, the Company engages or participates in remedial and other environmental compliance activities. At other sites, the Company has been named as a potential responsible party pursuant to the federal Superfund Act and/or state Superfund laws comparable to the federal law for site remediation. After analyzing each individual site, considering the number of parties involved, the level of its potential liability or contribution relating to the other parties, the nature and magnitude of the hazardous waste involved, the method and extent of remediation, the potential insurance coverage, the estimated legal and consulting expense with respect to each site and the time period over which any costs would likely be incurred, the Company estimates the clean-up costs and related claims for each site. The estimates are based in part on discussions with other potential responsible parties, governmental agencies and engineering firms. The Company accrues for environmental matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on current laws and existing technologies. The accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. The Company's environmental liabilities, which are included in the Condensed Consolidated Balance Sheets as "Accrued expenses and other current liabilities" and "Other liabilities," totaled $10.8 million and $11.3 million at September 30, 2024 and December 31, 2023, respectively, primarily driven by environmental remediation, clean-up costs and monitoring of sites that were either closed or disposed of in prior years. While uncertainty exists with respect to the amount and timing of its ultimate environmental liabilities, the Company does not currently anticipate any material losses in excess of the amount recorded. However, new information about the sites, such as results of investigations, could make it necessary for the Company to reassess its potential exposure related to these environmental matters. As of the date hereof, the Company believes it is not practicable to provide an estimated range of reasonably possible environmental losses in excess of its recorded liabilities. As a result, the Company is unable to ascertain the ultimate aggregate amount of monetary liability or financial impact that may be associated with these matters. Legal Matters From time to time, the Company is involved in various legal proceedings, investigations and/or claims in the normal course of its business. Although it cannot predict with certainty the ultimate resolution of these matters, which involve judgments that are inherently subjective, the Company believes that their resolutions, to the extent not covered by insurance, will not, individually or in the aggregate, have a material adverse effect on its consolidated financial position, results of operations or cash flows.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's quarterly income tax provision is measured using an estimate of its consolidated annual effective tax rate, which includes the impact of foreign withholding tax accruals and uncertain tax positions, adjusted for discrete items, within the periods presented. The comparison of the Company's income tax provision between periods can be significantly impacted by the level and mix of earnings and losses by tax jurisdiction and discrete items. For the three months ended September 30, 2024, the Company recognized income expense of $36.8 million, as compared to $15.3 million in the same period for 2023. For the nine months ended September 30, 2024, the Company recognized income tax expense of $32.8 million, as compared to $53.4 million in the same period for 2023. Income tax expense for the three and nine months ended September 30, 2024 included a continued U.S. benefit related to claiming foreign tax credits consistent with our election in the fourth quarter of 2023, and the impact of changes to the level and mix of earnings. During the third quarter of 2024, an internal restructuring was completed to facilitate the MGS Transaction which resulted in the recognition of a capital gain that was fully offset by a capital loss carryforward. The capital gain triggered by the internal restructuring resulted in a higher interest expense deduction and consequentially a lower income limited deduction for FDII and our ability to utilize foreign tax credits in the future. The completion of the internal restructuring resulted in $13.6 million of non-recurring tax expense. The income tax expense for the nine months ended September 30, 2024 also includes a benefit associated with the release of valuation allowances of $38.8 million previously recorded against certain U.K. tax attribute carryforwards, primarily consisting of net operating loss carryforwards and interest carryforwards. The valuation allowances were released as the Company expects improved profitability in its UK business and a shift to a three-year cumulative income position. These expectations are based on actual and forecasted results. Income tax expense for the three and nine months ended September 30, 2023, included current and deferred taxes based on jurisdictional earnings, withholding taxes, a U.S. tax deduction related to FDII and the impact of U.S. GILTI.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company is party to an Advisory Services Agreement with Mariposa Capital, LLC, an affiliate of one of its founder directors, whereby Mariposa Capital, LLC is entitled to receive an annual fee and reimbursement for expenses. This agreement is automatically renewed for successive one-year terms unless either party notifies the other in writing of its intention not to renew no later than 90 days prior to the expiration of the applicable term. Effective April 11, 2024, the advisory fee was decreased from an annualized amount of $3.0 million to $2.0 million. Amounts paid under this agreement are recorded in the Condensed Consolidated Statements of Operations as "Selling, technical, general and administrative" expense.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company's operations are organized into two reportable segments: Electronics and Industrial & Specialty. These segments represent businesses for which separate financial information is utilized by the chief operating decision maker for purposes of allocating resources and evaluating performance. The Company allocates resources and evaluates the performance of its operating segments based primarily on net sales and Adjusted EBITDA. Adjusted EBITDA for each segment is defined as EBITDA, as further adjusted for additional items included in earnings which the Company believes are not representative or indicative of each of its segments' ongoing business or are considered to be associated with the Company's capital structure. Adjusted EBITDA for each segment also includes an allocation of corporate costs, such as compensation expense and professional fees. Results of Operations The following table summarizes financial information regarding each reportable segment’s results of operations, including disaggregated external net sales by product category: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2024 2023 2024 2023 Net sales: Electronics Assembly Solutions $ 215.5 $ 191.2 $ 581.1 $ 548.7 Circuitry Solutions 119.8 109.1 353.3 318.8 Semiconductor Solutions 83.8 66.7 225.6 194.9 Total Electronics 419.1 367.0 1,160.0 1,062.4 Industrial & Specialty Industrial Solutions 168.2 177.7 499.7 534.2 Graphics Solutions 37.3 35.9 111.1 107.5 Energy Solutions 20.4 18.7 61.9 55.7 Total Industrial & Specialty 225.9 232.3 672.7 697.4 Total net sales $ 645.0 $ 599.3 $ 1,832.7 $ 1,759.8 Adjusted EBITDA: Electronics $ 98.6 $ 90.4 $ 274.7 $ 239.4 Industrial & Specialty 44.1 43.7 130.1 123.1 Total Adjusted EBITDA $ 142.7 $ 134.1 $ 404.8 $ 362.5 The following table reconciles "Net income (loss)" to Adjusted EBITDA: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2024 2023 2024 2023 Net income (loss) $ 40.4 $ (31.7) $ 189.7 $ 41.0 Add (subtract): Income from discontinued operations, net of tax — — (1.6) (2.9) Income tax expense 36.8 15.3 32.8 53.4 Interest expense, net 14.2 13.3 42.4 37.0 Depreciation expense 10.0 11.8 30.4 31.4 Amortization expense 29.4 32.7 89.4 93.3 EBITDA 130.8 41.4 383.1 253.2 Adjustments to reconcile to Adjusted EBITDA: Restructuring (income) expense (0.1) 2.1 5.7 6.3 Acquisition, divestiture and integration expense 6.3 5.0 11.3 13.3 Foreign exchange (gains) losses on intercompany loans (13.5) 6.5 (24.2) (7.6) Debt refinancing costs 0.4 — 0.4 — Goodwill impairment — 80.0 — 80.0 Kuprion Acquisition research and development charge — — 3.9 15.7 Other, net 18.8 (0.9) 24.6 1.6 Adjusted EBITDA $ 142.7 $ 134.1 $ 404.8 $ 362.5

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 40.3	$ (31.8)	$ 189.5	$ 41

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 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

BACKGROUND AND BASIS OF PRESE_2

BACKGROUND AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP and include the accounts of Element Solutions and all of its controlled subsidiaries. The Company consolidates the income, expenses, assets, liabilities and cash flows of its subsidiaries from the date it acquires control or becomes the primary beneficiary. All intercompany accounts and transactions have been eliminated upon consolidation.
Basis of Presentation	In preparing the unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management uses estimates and assumptions that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Management applies judgment based on its understanding and analysis of the relevant circumstances, including historical experience and future expectations. These judgments, by their nature, are subject to an inherent degree of uncertainty and, accordingly, actual results could differ significantly from these estimates and assumptions. These unaudited Condensed Consolidated Financial Statements reflect all adjustments that are normal, recurring and necessary for a fair statement of the Company's financial position, results of operations and cash flows for interim periods, but are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2024. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Company's Consolidated Financial Statements and related notes included in its 2023 Annual Report.

HELD FOR SALE (Tables)

HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities Classified as Held for Sale	The major components of MacDermid Graphics Solutions' assets and liabilities classified as held for sale were as follows: (dollars in millions) September 30, 2024 Assets held for sale: Accounts receivable, net $ 29.8 Inventories 33.4 Other current assets 6.8 Current assets held for sale $ 70.0 Property, plant and equipment, net 35.0 Goodwill 130.4 Intangible assets, net 11.2 Other assets 14.8 Non-current assets held for sale $ 191.4 Liabilities held for sale: Accounts payable $ 8.1 Accrued expenses and other current liabilities 8.5 Current liabilities held for sale $ 16.6 Other liabilities 16.3 Non-current liabilities held for sale $ 16.3

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Major Components of Inventory	The major components of inventory, on a net basis, were as follows: (dollars in millions) September 30, 2024 December 31, 2023 Finished goods $ 158.1 $ 176.2 Work in process 46.1 37.5 Raw materials and supplies 81.5 85.2 Total inventories $ 285.7 $ 298.9

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Major Components of Property, Plant, and Equipment	The major components of property, plant and equipment, net were as follows: (dollars in millions) September 30, 2024 December 31, 2023 Land and leasehold improvements $ 50.8 $ 51.7 Buildings and improvements 175.4 168.5 Machinery, equipment, fixtures and software 312.8 334.3 Construction in process 56.4 66.7 Total property, plant and equipment 595.4 621.2 Accumulated depreciation (321.5) (324.3) Property, plant and equipment, net $ 273.9 $ 296.9

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment were as follows: (dollars in millions) Electronics Industrial & Specialty Total Balance at December 31, 2023 $ 1,298.7 $ 1,038.0 (1) $ 2,336.7 Held for sale (2) — (130.4) (130.4) Foreign currency translation and other 6.3 7.6 13.9 Balance at September 30, 2024 $ 1,305.0 $ 915.2 (3) $ 2,220.2 (1) Includes accumulated impairment losses of $127 million. (2) As a result of the MGS Transaction, MacDermid Graphics Solutions' assets and liabilities, including goodwill, were classified as held for sale in the Condensed Consolidated Balance Sheets as of September 30, 2024. Goodwill held for sale includes accumulated impairment losses of $80.0 million. See Note 2, Held for Sale, to the unaudited Condensed Consolidated Financial Statements for further information regarding the MGS Transaction.
Schedule of Major Components of Intangible Assets	The major components of intangible assets, net were as follows: September 30, 2024 December 31, 2023 (dollars in millions) Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book Customer relationships $ 865.5 $ (451.9) $ 413.6 $ 978.4 $ (505.9) $ 472.5 Developed technology 303.7 (233.3) 70.4 410.0 (316.2) 93.8 Trade names 96.3 (36.5) 59.8 95.9 (30.9) 65.0 Reacquired distribution rights 187.0 (16.6) 170.4 187.0 (7.3) 179.7 Other — — — 0.8 (0.5) 0.3 Indefinite-lived trade name 68.0 — 68.0 68.0 — 68.0 Total $ 1,520.5 $ (738.3) $ 782.2 $ 1,740.1 $ (860.8) $ 879.3

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt and Capital Lease Obligations	The Company’s debt obligations consisted of the following: (dollars in millions) Maturity Date Interest Rate September 30, 2024 December 31, 2023 Term Loans (1) 2030 SOFR plus 2.00% $ 1,132.6 $ 1,140.2 Senior Notes - $800 million (2) 2028 3.875% 793.6 792.3 Total debt 1,926.2 1,932.5 Less: current installments of long-term debt 11.5 11.5 Total long-term debt $ 1,914.7 $ 1,921.0 (1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at September 30, 2024 and December 31, 2023, respectively. The effective interest rate was 3.3% at September 30, 2024 and December 31, 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 7, Financial Instruments, to the unaudited Condensed Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges. (2) Senior notes, net of unamortized debt issuance costs of $6.4 million and $7.7 million at September 30, 2024 and December 31, 2023, respectively. The effective interest rate was 4.1% at September 30, 2024 and December 31, 2023, respectively.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis: (dollars in millions) Balance sheet location Classification September 30, 2024 December 31, 2023 Asset Category Foreign exchange contracts Other current assets Level 2 $ — $ 0.2 Metals contracts Other current assets Level 2 0.4 0.5 Interest rate swaps Other current assets Level 2 6.2 19.9 Cross-currency swaps Other current assets Level 2 20.9 5.9 Interest rate swaps Other assets Level 2 — 4.3 Cross-currency swaps Other assets Level 2 — 9.6 Available-for-sale debt securities Other assets Level 3 — 14.2 Total $ 27.5 $ 54.6 Liability Category Foreign exchange contracts Accrued expenses and other current liabilities Level 2 $ 0.9 $ 0.9 Metals contracts Accrued expenses and other current liabilities Level 2 4.6 1.7 Cross-currency swaps Accrued expenses and other current liabilities Level 2 — 0.9 Interest rate swaps Other liabilities Level 2 13.9 12.3 Cross-currency swaps Other liabilities Level 2 20.0 9.8 Total $ 39.4 $ 25.6

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share, Basic and Diluted	A computation of weighted average shares of the Company's common stock outstanding and earnings (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per share amounts) 2024 2023 2024 2023 Net income (loss) from continuing operations $ 40.4 $ (31.7) $ 188.1 $ 38.1 Net income attributable to non-controlling interests (0.1) (0.1) (0.2) — Net income (loss) attributable to common stockholders $ 40.3 $ (31.8) $ 187.9 $ 38.1 Basic weighted average common shares outstanding 242.1 241.5 242.0 241.4 Denominator adjustments for diluted EPS: Number of stock options and RSUs 0.5 — 0.5 0.4 Denominator adjustments for diluted EPS 0.5 — 0.5 0.4 Diluted weighted average common shares outstanding 242.6 241.5 242.5 241.8 Earnings (loss) per share attributable to common stockholders: Basic $ 0.17 $ (0.13) $ 0.77 $ 0.16 Diluted $ 0.17 $ (0.13) $ 0.77 $ 0.16
Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share	For the three and nine months ended September 30, 2024 and 2023, the following securities were not included in the computation of diluted shares outstanding because either the effect would be anti-dilutive or the applicable performance targets were not yet met: Three Months Ended Nine Months Ended September 30, September 30, (shares in millions) 2024 2023 2024 2023 Shares issuable upon vesting of RSUs and exercise of stock options 3.4 3.3 3.4 3.7

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, By Segment	The following table summarizes financial information regarding each reportable segment’s results of operations, including disaggregated external net sales by product category: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2024 2023 2024 2023 Net sales: Electronics Assembly Solutions $ 215.5 $ 191.2 $ 581.1 $ 548.7 Circuitry Solutions 119.8 109.1 353.3 318.8 Semiconductor Solutions 83.8 66.7 225.6 194.9 Total Electronics 419.1 367.0 1,160.0 1,062.4 Industrial & Specialty Industrial Solutions 168.2 177.7 499.7 534.2 Graphics Solutions 37.3 35.9 111.1 107.5 Energy Solutions 20.4 18.7 61.9 55.7 Total Industrial & Specialty 225.9 232.3 672.7 697.4 Total net sales $ 645.0 $ 599.3 $ 1,832.7 $ 1,759.8 Adjusted EBITDA: Electronics $ 98.6 $ 90.4 $ 274.7 $ 239.4 Industrial & Specialty 44.1 43.7 130.1 123.1 Total Adjusted EBITDA $ 142.7 $ 134.1 $ 404.8 $ 362.5 The following table reconciles "Net income (loss)" to Adjusted EBITDA: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2024 2023 2024 2023 Net income (loss) $ 40.4 $ (31.7) $ 189.7 $ 41.0 Add (subtract): Income from discontinued operations, net of tax — — (1.6) (2.9) Income tax expense 36.8 15.3 32.8 53.4 Interest expense, net 14.2 13.3 42.4 37.0 Depreciation expense 10.0 11.8 30.4 31.4 Amortization expense 29.4 32.7 89.4 93.3 EBITDA 130.8 41.4 383.1 253.2 Adjustments to reconcile to Adjusted EBITDA: Restructuring (income) expense (0.1) 2.1 5.7 6.3 Acquisition, divestiture and integration expense 6.3 5.0 11.3 13.3 Foreign exchange (gains) losses on intercompany loans (13.5) 6.5 (24.2) (7.6) Debt refinancing costs 0.4 — 0.4 — Goodwill impairment — 80.0 — 80.0 Kuprion Acquisition research and development charge — — 3.9 15.7 Other, net 18.8 (0.9) 24.6 1.6 Adjusted EBITDA $ 142.7 $ 134.1 $ 404.8 $ 362.5

BACKGROUND AND BASIS OF PRESE_3

BACKGROUND AND BASIS OF PRESENTATION (Details)	Jan. 31, 2014 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock par value (in dollars per share)	$ 0.01

HELD FOR SALE - Additional Info

HELD FOR SALE - Additional Information (Details) $ in Millions	Sep. 01, 2024 USD ($)
Disposal Group, Held-for-Sale, Not Discontinued Operations | MacDermid Graphics Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Discontinued operation, consideration	$ 325

HELD FOR SALE - Schedule of Ass

HELD FOR SALE - Schedule of Assets and Liabilities Classified as Held for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets held for sale:
Current assets held for sale	$ 70	$ 0
Non-current assets held for sale	191.4	0
Liabilities held for sale:
Current liabilities held for sale	16.6	0
Non-current liabilities held for sale	16.3	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | MacDermid Graphics Solutions
Assets held for sale:
Accounts receivable, net	29.8
Inventories	33.4
Other current assets	6.8
Current assets held for sale	70
Property, plant and equipment, net	35
Goodwill	130.4
Intangible assets, net	11.2
Other assets	14.8
Non-current assets held for sale	191.4
Liabilities held for sale:
Accounts payable	8.1
Accrued expenses and other current liabilities	8.5
Current liabilities held for sale	16.6
Other liabilities	16.3
Non-current liabilities held for sale	$ 16.3

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 158.1	$ 176.2
Work in process	46.1	37.5
Raw materials and supplies	81.5	85.2
Total inventories	$ 285.7	$ 298.9

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET - Major Components of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property, plant and equipment
Total property, plant and equipment	$ 595.4	$ 621.2
Accumulated depreciation	(321.5)	(324.3)
Property, plant and equipment, net	273.9	296.9
Land and leasehold improvements
Property, plant and equipment
Total property, plant and equipment	50.8	51.7
Buildings and improvements
Property, plant and equipment
Total property, plant and equipment	175.4	168.5
Machinery, equipment, fixtures and software
Property, plant and equipment
Total property, plant and equipment	312.8	334.3
Construction in process
Property, plant and equipment
Total property, plant and equipment	$ 56.4	$ 66.7

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 10	$ 11.8	$ 30.4	$ 31.4

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, NET - Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 2,336.7
Held for sale	(130.4)
Foreign currency translation and other	13.9
Ending balance	2,220.2
Accumulated impairment losses	46.6	$ 127
MacDermid Graphics Solutions | Disposal Group, Held-for-Sale, Not Discontinued Operations
Goodwill [Roll Forward]
Accumulated impairment losses	80
Electronics
Goodwill [Roll Forward]
Beginning balance	1,298.7
Held for sale	0
Foreign currency translation and other	6.3
Ending balance	1,305
Industrial & Specialty
Goodwill [Roll Forward]
Beginning balance	1,038
Held for sale	(130.4)
Foreign currency translation and other	7.6
Ending balance	$ 915.2

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets
Goodwill impairment	$ 0		$ 80	$ 0	$ 80
Amortization of expense of intangible assets	29.4		32.7	89.4	93.3
Research and development	$ 14.9		$ 12.9	$ 48.6	$ 54.3
Kuprion
Finite-Lived Intangible Assets
Research and development		$ 3.9

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS, NET - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Accumulated Amortization	$ (738.3)	$ (860.8)
Intangible Assets, Gross (Excluding Goodwill)	1,520.5	1,740.1
Intangible assets, net	782.2	879.3
Trade names
Finite-Lived Intangible Assets
Indefinite lived intangible assets	68	68
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	865.5	978.4
Accumulated Amortization	(451.9)	(505.9)
Net Book Value	413.6	472.5
Developed technology
Finite-Lived Intangible Assets
Gross Carrying Amount	303.7	410
Accumulated Amortization	(233.3)	(316.2)
Net Book Value	70.4	93.8
Trade names
Finite-Lived Intangible Assets
Gross Carrying Amount	96.3	95.9
Accumulated Amortization	(36.5)	(30.9)
Net Book Value	59.8	65
Reacquired distribution rights
Finite-Lived Intangible Assets
Gross Carrying Amount	187	187
Accumulated Amortization	(16.6)	(7.3)
Net Book Value	170.4	179.7
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	0	0.8
Accumulated Amortization	0	(0.5)
Net Book Value	$ 0	$ 0.3

DEBT - Debt and Capital Lease O

DEBT - Debt and Capital Lease Obligations (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Total debt	$ 1,926,200,000	$ 1,932,500,000
Less: current installments of long-term debt	11,500,000	11,500,000
Total long-term debt	1,914,700,000	1,921,000,000
B-2 Term Loans, Maturing 2030 | Domestic Line of Credit
Debt Instrument
Debt face amount	$ 1,150,000,000
Spread on variable rate (percent)	2%
Total debt	$ 1,132,600,000	1,140,200,000
Unamortized premiums, discounts and debt issuance costs	$ 8,800,000	$ 9,800,000
Effective interest rate (percent)	3.30%	3.30%
USD Senior Notes, Due 2028 | Senior Notes
Debt Instrument
Debt face amount	$ 800,000,000
Stated interest rate (percent)	3.875%
Total debt	$ 793,600,000	$ 792,300,000
Unamortized premiums, discounts and debt issuance costs	$ 6,400,000	$ 7,700,000
Effective interest rate (percent)	4.10%	4.10%

DEBT - Credit Agreement (Detail

DEBT - Credit Agreement (Details) - USD ($)		9 Months Ended
	Oct. 15, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Line of Credit Facility
Repayments of debt		$ 8,600,000	$ 8,600,000
Total debt and capital lease obligations		1,926,200,000		$ 1,932,500,000
Subsequent Event
Line of Credit Facility
Extinguishment of debt	$ 100,000,000
Domestic Line of Credit | B Term Loans | Subsequent Event
Line of Credit Facility
Total debt and capital lease obligations	100,000,000
Domestic Line of Credit | B-2 Term Loans, Maturing 2030
Line of Credit Facility
Debt face amount		$ 1,150,000,000
Spread on variable rate (percent)		2%
Total debt and capital lease obligations		$ 1,132,600,000		$ 1,140,200,000
Domestic Line of Credit | B-2 Term Loans, Maturing 2030 | Subsequent Event
Line of Credit Facility
Repayments of debt	1,140,000,000
Domestic Line of Credit | B-3 Term Loans | Subsequent Event
Line of Credit Facility
Debt face amount	$ 1,040,000,000
Spread on variable rate (percent)	1.75%
Interest rate reduction (as a percent)	0.25%
Revolving Credit Facility
Line of Credit Facility
Maximum borrowing capacity		1,530,000,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility
Maximum borrowing capacity		$ 375,000,000

DEBT - Guarantees, Covenants an

DEBT - Guarantees, Covenants and Events of Default (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Senior Notes
Debt Instrument
Covenant, outstanding borrowings leverage threshold (percent)	30%
Covenant, first lien net leverage ratio	5
Line of Credit | Revolving Credit Facility
Debt Instrument
Current borrowing capacity	$ 369

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details)	Sep. 30, 2024
Senior Notes | USD Senior Notes, Due 2028
Debt Instrument
Stated interest rate (percent)	3.875%

DEBT - Lines of Credit and Othe

DEBT - Lines of Credit and Other Debt Facilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Outstanding letters of credit	$ 6.2	$ 6.2
Revolving Credit Facility
Debt Instrument
Reduction in borrowings	6.2	6.2
Lines of Credit and Revolving Lines of Credit | Line of Credit
Debt Instrument
Remaining borrowing capacity	$ 391	$ 392

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivatives and Hedging (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss)
Loss to be reclassified during next 12 months	$ 6.2
Domestic Line of Credit | B-2 Term Loans, Maturing 2030
Derivative Instruments, Gain (Loss)
Effective interest rate (percent)	3.30%	3.30%
Commodities Investment
Derivative Instruments, Gain (Loss)
Derivative liability, current	$ 4.2	$ 1.2
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Derivative notional amount	1,140	1,150
Derivative asset	0.9	4.8
Cross-currency swaps | Debt Expiry in January 2025
Derivative Instruments, Gain (Loss)
Derivative notional amount	387
Interest Rate Swaps
Derivative Instruments, Gain (Loss)
Derivative liability	7.7
Derivative asset		11.9
Foreign Exchange Forward
Derivative Instruments, Gain (Loss)
Derivative notional amount	$ 76.8	63.8
Derivative remaining maturity	1 year
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Derivative notional amount	$ 114	93.9
Derivative remaining maturity	1 year
Derivative liability, current	$ 0.9	$ 0.7

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Recurring
Asset Category
Total	$ 27.5	$ 54.6
Liability Category
Total	39.4	25.6
Level 2 | Recurring | Metals contracts
Asset Category
Derivative asset	0.4	0.5
Liability Category
Derivative liability	4.6	1.7
Level 3 | Recurring
Asset Category
Available-for-sale debt securities	0	14.2
Foreign exchange contracts | Level 2 | Recurring
Asset Category
Derivative asset	0	0.2
Liability Category
Derivative liability	0.9	0.9
Interest rate swaps
Asset Category
Derivative asset		11.9
Liability Category
Derivative liability	7.7
Interest rate swaps | Level 2 | Recurring
Liability Category
Derivative liability	13.9	12.3
Interest rate swaps | Level 2 | Recurring | Other current assets
Asset Category
Derivative asset	6.2	19.9
Interest rate swaps | Level 2 | Recurring | Other assets
Asset Category
Derivative asset	0	4.3
Cross-currency swaps
Asset Category
Derivative asset	0.9	4.8
Cross-currency swaps | Level 2 | Recurring | Other current assets
Asset Category
Derivative asset	20.9	5.9
Cross-currency swaps | Level 2 | Recurring | Other assets
Asset Category
Derivative asset	0	9.6
Cross-currency swaps | Level 2 | Recurring | Accrued expenses and other current liabilities
Liability Category
Derivative liability	0	0.9
Cross-currency swaps | Level 2 | Recurring | Other liabilities
Liability Category
Derivative liability	$ 20	$ 9.8

FINANCIAL INSTRUMENTS - Fair _2

FINANCIAL INSTRUMENTS - Fair Value Measurements, Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, fair value	$ 1,930	$ 1,930
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, fair value	$ 1,910	$ 1,890

FINANCIAL INSTRUMENTS - Non-Rec

FINANCIAL INSTRUMENTS - Non-Recurring Fair Value Measurement, Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Aug. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Goodwill impairment	$ 0	$ 80	$ 0	$ 80
Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Goodwill, measurement input (percent)					0.105

EARNINGS (LOSS) PER SHARE - Com

EARNINGS (LOSS) PER SHARE - Computation of Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) from continuing operations	$ 40.4	$ (31.7)	$ 188.1	$ 38.1
Net income attributable to non-controlling interests	(0.1)	(0.1)	(0.2)	0
Net income (loss) attributable to common stockholders	$ 40.3	$ (31.8)	$ 187.9	$ 38.1
Basic weighted average common shares outstanding (in shares)	242.1	241.5	242	241.4
Denominator adjustments for diluted EPS:
Number of stock options and RSUs (in shares)	0.5	0	0.5	0.4
Denominator adjustments for diluted EPS (in shares)	0.5	0	0.5	0.4
Diluted weighted average common shares outstanding (in shares)	242.6	241.5	242.5	241.8
Earnings (loss) per share attributable to common stockholders:
Basic from continuing operations (in dollars per share)	$ 0.17	$ (0.13)	$ 0.77	$ 0.16
Diluted from continuing operations (in dollars per share)	$ 0.17	$ (0.13)	$ 0.77	$ 0.16

EARNINGS (LOSS) PER SHARE - Ant

EARNINGS (LOSS) PER SHARE - Anti-dilutive Securities (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Shares issuable upon vesting of RSUs and exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Weighted-average securities not included in computation of diluted shares outstanding (in shares)	3.4	3.3	3.4	3.7

CONTINGENCIES, ENVIRONMENTAL _2

CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Reserves for environmental matters	$ 10.8	$ 11.3

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 36.8	$ 15.3	$ 32.8	$ 53.4
Additional tax expense			13.6
Decrease in valuation allowance			$ 38.8

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Mariposa Capital - Advisory Services Agreement - USD ($) $ in Millions			9 Months Ended
	Apr. 11, 2024	Apr. 10, 2024	Sep. 30, 2024
Related Party Transaction
Automatic renewal period			1 year
Agreement renewal period			90 days
Related party transaction expense	$ 2	$ 3

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION - Financial

SEGMENT INFORMATION - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information
Net sales	$ 645	$ 599.3	$ 1,832.7	$ 1,759.8
Total Adjusted EBITDA	142.7	134.1	404.8	362.5
Electronics
Segment Reporting Information
Net sales	419.1	367	1,160	1,062.4
Total Adjusted EBITDA	98.6	90.4	274.7	239.4
Electronics | Assembly Solutions
Segment Reporting Information
Net sales	215.5	191.2	581.1	548.7
Electronics | Circuitry Solutions
Segment Reporting Information
Net sales	119.8	109.1	353.3	318.8
Electronics | Semiconductor Solutions
Segment Reporting Information
Net sales	83.8	66.7	225.6	194.9
Industrial & Specialty
Segment Reporting Information
Net sales	225.9	232.3	672.7	697.4
Total Adjusted EBITDA	44.1	43.7	130.1	123.1
Industrial & Specialty | Industrial Solutions
Segment Reporting Information
Net sales	168.2	177.7	499.7	534.2
Industrial & Specialty | Graphics Solutions
Segment Reporting Information
Net sales	37.3	35.9	111.1	107.5
Industrial & Specialty | Energy Solutions
Segment Reporting Information
Net sales	$ 20.4	$ 18.7	$ 61.9	$ 55.7

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting [Abstract]
Net income (loss)	$ 40.4	$ (31.7)	$ 189.7	$ 41
Add (subtract):
Income from discontinued operations, net of tax	0	0	(1.6)	(2.9)
Income tax expense	36.8	15.3	32.8	53.4
Interest expense, net	14.2	13.3	42.4	37
Depreciation expense	10	11.8	30.4	31.4
Amortization expense	29.4	32.7	89.4	93.3
EBITDA	130.8	41.4	383.1	253.2
Adjustments to reconcile to Adjusted EBITDA:
Restructuring (income) expense	(0.1)	2.1	5.7	6.3
Acquisition, divestiture and integration expense	6.3	5	11.3	13.3
Foreign exchange (gains) losses on intercompany loans	(13.5)	6.5	(24.2)	(7.6)
Debt refinancing costs	0.4	0	0.4	0
Goodwill impairment	0	80	0	80
Kuprion Acquisition research and development charge	0	0	3.9	15.7
Other, net	18.8	(0.9)	24.6	1.6
Adjusted EBITDA	$ 142.7	$ 134.1	$ 404.8	$ 362.5