Element Solutions (ESI) 10-K 19 Feb 25 2024 FY Annual report Financial data

COVER

COVER - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36272
Entity Registrant Name	Element Solutions Inc
Entity Incorporation, State	DE
Entity Tax Identification Number	37-1744899
Entity Address, Street Address	500 East Broward Boulevard, Suite 1860
Entity Address, City	Fort Lauderdale,
Entity Address, State	FL
Entity Address, Postal Zip Code	33394
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		242,452,327
Entity Public Float			$ 6,060
Documents Incorporated by Reference	Portions of the Company’s definitive 2025 Proxy Statement are incorporated by reference into Part III of this 2024 Annual Report.
Amendment Flag	false
Entity Central Index Key	0001590714
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

AUDIT INFORMATION

AUDIT INFORMATION	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Miami, Florida

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 2,456,900,000	$ 2,333,200,000	$ 2,549,400,000
Cost of sales	1,421,200,000	1,414,700,000	1,596,700,000
Gross profit	1,035,700,000	918,500,000	952,700,000
Operating expenses:
Selling, technical, general and administrative	628,800,000	596,800,000	578,600,000
Research and development	63,000,000	68,100,000	48,800,000
Goodwill impairment	0	80,000,000	0
Total operating expenses	691,800,000	744,900,000	627,400,000
Operating profit	343,900,000	173,600,000	325,300,000
Other (expense) income:
Interest expense, net	(56,300,000)	(49,300,000)	(51,200,000)
Foreign exchange gains (losses)	25,100,000	7,900,000	(5,000,000)
Other (expense) income, net	(25,000,000)	(3,100,000)	2,900,000
Total other expense	(56,200,000)	(44,500,000)	(53,300,000)
Income before income taxes and non-controlling interests	287,700,000	129,100,000	272,000,000
Income tax expense	(44,800,000)	(13,000,000)	(85,800,000)
Net income from continuing operations	242,900,000	116,100,000	186,200,000
Income from discontinued operations, net of tax	1,600,000	2,100,000	1,800,000
Net income	244,500,000	118,200,000	188,000,000
Net income attributable to the non-controlling interests	(300,000)	(100,000)	(800,000)
Net income attributable to common stockholders	$ 244,200,000	$ 118,100,000	$ 187,200,000
Earnings per share
Basic from continuing operations (in dollars per share)	$ 1	$ 0.48	$ 0.75
Basic from discontinued operations (in dollars per share)	0.01	0.01	0.01
Basic attributable to common stockholders (in dollars per share)	1.01	0.49	0.76
Diluted from continuing operations (in dollars per share)	1	0.48	0.75
Diluted from discontinued operations (in dollars per share)	0.01	0.01	0.01
Diluted attributable to common stockholders (in dollars per share)	$ 1.01	$ 0.49	$ 0.76
Weighted average common shares outstanding
Basic (in shares)	242.1	241.4	245.1
Diluted (in shares)	242.6	241.8	245.8

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 244.5	$ 118.2	$ 188
Foreign currency translation:
Other comprehensive loss before reclassifications, net of tax expense (benefit) of $12.8, $(11.1) and $(6.1) for 2024, 2023 and 2022, respectively	(122.3)	(26.1)	(148.5)
Total foreign currency translation adjustments	(122.3)	(26.1)	(148.5)
Pension and post-retirement plans:
Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $1.7, $1.1 and $(1.8) for 2024, 2023 and 2022, respectively	5.2	3.4	(5.2)
Total pension and post-retirement plans	5.2	3.4	(5.2)
Available-for-sale debt securities:
Other comprehensive (loss) income before reclassifications, net of tax benefit of $0.0 for 2024, 2023 and 2022, respectively	0	(1.1)	1.1
Total unrealized (loss) gain on available-for-sale debt securities	0	(1.1)	1.1
Derivative financial instruments:
Other comprehensive income before reclassifications, net of tax expense of $6.2, $0.9 and $15.8 for 2024, 2023 and 2022, respectively	19.9	2.9	48.2
Reclassifications, net of tax benefit of $6.9, $8.4 and $0.0 for 2024, 2023 and 2022, respectively	(24.3)	(27.5)	1.5
Total unrealized (loss) gain on qualified hedging derivatives	(4.4)	(24.6)	49.7
Other comprehensive loss	(121.5)	(48.4)	(102.9)
Comprehensive income	123	69.8	85.1
Comprehensive (income) loss attributable to the non-controlling interests	(0.1)	0.5	1.4
Comprehensive income attributable to stockholders	$ 122.9	$ 70.3	$ 86.5

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Foreign currency translation:
Before reclassification adjustment, tax expense (benefit)	$ 12.8	$ (11.1)	$ (6.1)
Pension and post-retirement plans:
Before reclassification adjustments, tax expense (benefit)	1.7	1.1	(1.8)
Available-for-sale debt securities:
Before reclassification adjustments, tax expense (benefit)	0	0	0
Derivative financial instruments:
Before reclassification adjustment, tax expense (benefit)	6.2	0.9	15.8
Reclassification adjustment, tax expense (benefit)	$ (6.9)	$ (8.4)	$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 359.4	$ 289.3
Accounts receivable, net of allowance for doubtful accounts of $10.3 and $12.6 at December 31, 2024 and 2023, respectively	439.6	461.8
Inventories	246.2	298.9
Prepaid expenses	22.7	32.5
Other current assets	136.9	115
Current assets held for sale	65.2	0
Total current assets	1,270	1,197.5
Property, plant and equipment, net	276.8	296.9
Goodwill	2,132	2,336.7
Intangible assets, net	732	879.3
Deferred income tax assets	133.3	120.5
Other assets	140.9	143.2
Non-current assets held for sale	188.9	0
Total assets	4,873.9	4,974.1
Liabilities and stockholders' equity
Accounts payable	121.3	140.6
Current installments of long-term debt	10.4	11.5
Accrued expenses and other current liabilities	229.3	217.3
Current liabilities held for sale	18.7	0
Total current liabilities	379.7	369.4
Debt	1,813.6	1,921
Pension and post-retirement benefits	22.2	28.1
Deferred income tax liabilities	93.9	108.9
Other liabilities	152.6	202.4
Non-current liabilities held for sale	13.5	0
Total liabilities	2,475.5	2,629.8
Commitments and contingencies (Note $18)
Stockholders' equity
Common stock, 400.0 shares authorized (2024: 267.2 shares issued; 2023: 266.2 shares issued)	2.7	2.7
Additional paid-in capital	4,214.1	4,196.9
Treasury stock (2024: 25.0 shares; 2023: 24.6 shares)	(349.5)	(341.9)
Accumulated deficit	(1,017.1)	(1,183.3)
Accumulated other comprehensive loss	(467.2)	(345.9)
Total stockholders' equity	2,383	2,328.5
Non-controlling interests	15.4	15.8
Total equity	2,398.4	2,344.3
Total liabilities and stockholders' equity	$ 4,873.9	$ 4,974.1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Allowance for doubtful accounts	$ 10.3	$ 12.6
Stockholders' equity
Common stock, shares authorized (shares)	400,000,000	400,000,000
Common stock, shares issued (shares)	267,200,000	266,200,000
Treasury shares (shares)	25,000,000	24,600,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 244,500,000	$ 118,200,000	$ 188,000,000
Income from discontinued operations, net of tax	1,600,000	2,100,000	1,800,000
Net income from continuing operations	242,900,000	116,100,000	186,200,000
Reconciliations of net income to net cash flows provided by operating activities:
Depreciation and amortization	157,600,000	166,700,000	161,300,000
Deferred income taxes	(39,200,000)	(69,900,000)	15,100,000
Foreign exchange (gains) losses	(24,400,000)	(10,600,000)	3,400,000
Incentive stock compensation	14,800,000	9,400,000	17,700,000
Goodwill impairment	0	80,000,000	0
Other, net	22,900,000	42,200,000	11,400,000
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(29,900,000)	(6,800,000)	6,400,000
Inventories	7,800,000	(9,500,000)	(31,200,000)
Accounts payable	(1,000,000)	300,000	(100,000)
Accrued expenses	33,000,000	9,900,000	(33,000,000)
Prepaid expenses and other current assets	(4,200,000)	1,900,000	(26,600,000)
Other assets and liabilities	(18,300,000)	3,900,000	(14,700,000)
Net cash flows provided by operating activities	362,000,000	333,600,000	295,900,000
Cash flows from investing activities:
Capital expenditures	(68,400,000)	(52,700,000)	(47,800,000)
Proceeds from disposal of property, plant and equipment	0	1,400,000	4,800,000
Acquisitions, net of cash acquired	(3,900,000)	(214,800,000)	(22,600,000)
Other, net	(1,500,000)	15,900,000	(9,600,000)
Net cash flows used in investing activities	(73,800,000)	(250,200,000)	(75,200,000)
Cash flows from financing activities:
Debt proceeds, net of discount	1,040,100,000	1,297,100,000	0
Repayments of borrowings	(1,152,600,000)	(1,264,100,000)	(16,400,000)
Repurchases of common stock	0	0	(151,000,000)
Dividends	(78,200,000)	(77,400,000)	(78,400,000)
Payment of financing fees	(3,200,000)	(6,300,000)	(1,900,000)
Other, net	(12,700,000)	(8,000,000)	(27,900,000)
Net cash flows used in financing activities	(206,600,000)	(58,700,000)	(275,600,000)
Net cash flows provided by operating activities of discontinued operations	1,600,000	2,200,000	1,800,000
Effect of exchange rate changes on cash and cash equivalents	(13,100,000)	(3,200,000)	(11,400,000)
Net increase (decrease) in cash and cash equivalents	70,100,000	23,700,000	(64,500,000)
Cash and cash equivalents at beginning of period	289,300,000	265,600,000	330,100,000
Cash and cash equivalents at end of period	359,400,000	289,300,000	265,600,000
Continuing Operations
Supplemental disclosure information of continuing operations:
Cash paid for interest	64,800,000	56,100,000	46,900,000
Cash paid for income taxes	$ 87,200,000	$ 73,700,000	$ 66,500,000

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT 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, 2021			261,937,509
Beginning Balance at Dec. 31, 2021	$ 2,500.8	$ 2,480.7	$ 2.6	$ 4,166.6	$ (159.2)	$ (1,331.9)	$ (197.4)	$ 20.1
Treasury Stock, Beginning Balance (in shares) at Dec. 31, 2021					15,195,525
Increase (Decrease) in Stockholders'
Net income	188	187.2				187.2		0.8
Other comprehensive loss, net of taxes	(102.9)	(100.7)					(100.7)	(2.2)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			79,075
Issuance of common stock under Employee Stock Purchase Plan	1.3	1.3		1.3
Repurchases of common stock (in shares)					8,042,587
Repurchases of common stock	(151)	(151)			$ (151)
Dividends	(79.1)	(79.1)				(79.1)
Equity compensation expense	18.1	18.1		18.1
Exercise/ vesting of stock-based compensation (in shares)			3,045,949		1,034,636
Exercise/ vesting of stock-based compensation	(23.9)	(23.9)	$ 0.1		$ (24)
Changes in non-controlling interests	(2.2)	(0.1)		(0.1)				(2.1)
Common Stock, Ending Balance (in shares) at Dec. 31, 2022			265,062,533
Ending 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, Ending Balance (in shares) at Dec. 31, 2022					24,272,748
Increase (Decrease) in Stockholders'
Net income	118.2	118.1				118.1		0.1
Other comprehensive loss, net of taxes	(48.4)	(47.8)					(47.8)	(0.6)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			78,375
Issuance of common stock under Employee Stock Purchase Plan	1.3	1.3		1.3
Dividends	(77.6)	(77.6)				(77.6)
Equity compensation expense	9.7	9.7		9.7
Exercise/ vesting of stock-based compensation (in shares)			1,038,192		372,007
Exercise/ vesting of stock-based compensation	(7.7)	(7.7)			$ (7.7)
Changes in non-controlling interests	(0.3)							(0.3)
Common Stock, Ending Balance (in shares) at Dec. 31, 2023			266,179,100
Ending 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, Ending Balance (in shares) at Dec. 31, 2023	24,600,000				24,644,755
Increase (Decrease) in Stockholders'
Net income	$ 244.5	244.2				244.2		0.3
Other comprehensive loss, net of taxes	(121.5)	(121.3)					(121.3)	(0.2)
Issuance of common stock under Employee Stock Purchase Plan (in shares)			66,308
Issuance of common stock under Employee Stock Purchase Plan	1.3	1.3		1.3
Dividends	(78)	(78)				(78)
Equity compensation expense	15.1	15.1		15.1
Exercise/ vesting of stock-based compensation (in shares)			909,066		327,646
Exercise/ vesting of stock-based compensation	(7.4)	(7.4)		0.2	$ (7.6)
Changes in non-controlling interests	0.1	0.6		0.6				(0.5)
Common Stock, Ending Balance (in shares) at Dec. 31, 2024			267,154,474
Ending Balance at Dec. 31, 2024	$ 2,398.4	$ 2,383	$ 2.7	$ 4,214.1	$ (349.5)	$ (1,017.1)	$ (467.2)	$ 15.4
Treasury Stock, Ending Balance (in shares) at Dec. 31, 2024	25,000,000				24,972,401

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividend (in dollars per share)	$ 0.32	$ 0.32	$ 0.32

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 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. The Company's operations are organized in two reportable segments: Electronics and Industrial & Specialty. The reportable segments represent businesses for which separate financial information is utilized by the chief operating decision maker for the purpose of allocating resources and evaluating performance. Electronics – The Electronics segment researches, formulates and sells specialty chemicals and process technologies for all types of electronics hardware, from complex printed circuit board designs to advanced semiconductor packaging. In mobile communications, computers, automobiles and aerospace equipment, its products are an integral part of the electronics manufacturing process and the functionality of end-products. The segment's "wet chemistries" for metallization, surface treatments and solderable finishes form the physical circuitry pathways, and its "assembly materials," such as SMT, pastes, fluxes and adhesives, join those pathways together. The segment provides specialty chemical solutions through the following businesses: Assembly Solutions, Circuitry Solutions and Semiconductor Solutions. Industrial & Specialty – The Industrial & Specialty segment researches, formulates and sells specialty chemicals and process technologies that enhance surfaces or improve industrial processes in diverse industrial sectors from automotive trim to transcontinental infrastructure and from high-speed printing to high-design faucets. Its products include chemical systems that protect and decorate metal and plastic surfaces; consumable chemicals that enable printing image transfer on flexible packaging materials; and chemistries used in water-based hydraulic control fluids for offshore energy production. These fully consumable products are used in the aerospace, automotive, construction, consumer electronics, consumer packaged goods and oil and gas production end-markets. The segment provides specialty chemical solutions through the following businesses: Industrial Solutions, Graphics Solutions and Energy Solutions. Basis of Presentation The accompanying 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 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. The Company transferred operational responsibility of its Films business from its Graphics Solutions business and its Industrial Solutions business, both within its Industrial & Specialty segment, to its Circuitry Solutions business in its Electronics segment in the first quarter of 2023 and the second quarter of 2022, respectively. The financial results of this business are not material to the Company's Consolidated Financial Statements. In addition, the Company transferred certain product lines between its Assembly Solutions business and its Semiconductor Solutions business, both within its Electronics segment, to align more closely with its current business structure in the first quarter of 2023. Historical information has been reclassified to reflect these changes for all periods presented in the Consolidated Financial Statements. Certain prior year amounts have been reclassified to conform to the current year's presentation.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents – The Company considers all highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Receivables and Allowance for Doubtful Accounts – The Company determines its allowance for doubtful accounts associated with expected credit losses using a combination of factors to reduce trade receivable balances to their estimated net realizable amount. The Company maintains and adjusts its allowance for credit losses based on a variety of factors, including the length of time receivables have been past due under the applicable contractual terms, current and future macroeconomic trends and conditions, significant one-time events such as bankruptcy filings or deterioration in the customer’s operating results or financial position, historical experience and the financial condition of its customers. Credit risk with respect to accounts receivable is generally diversified due to the large number of entities comprising the Company's customer base and its dispersion across many different geographical regions. At December 31, 2024 and 2023, the Company did not believe it had any significant concentrations of credit risk that could materially impact its results of operations or financial position. Inventories – Inventories are stated at the lower of cost or net realizable value with cost being determined by the first-in/first-out and average cost methods. The Company regularly reviews inventories for obsolescence and excess quantities, and calculates reserves based on historical write-offs, customer demand, age of inventory, product evolution, usage rates and quantities of stock on hand. Additional obsolescence reserves may be required if actual sales are less favorable than those projected or product lifecycles differ from expectations. Property, Plant and Equipment, Net – Property, plant and equipment, net is stated at cost less accumulated depreciation. The Company records depreciation on a straight-line basis over the estimated useful life of each asset. Estimated useful lives by asset class are as follows: Average useful life (in years) Buildings and building improvements 5 to 20 Machinery, equipment and fixtures 3 to 15 Computer hardware and software 3 to 7 Furniture and automobiles 3 to 7 Leasehold improvements Lesser of useful life or lease term Maintenance and repair costs are expensed as incurred, while renewals and improvements, which significantly extend the useful life of the asset, are capitalized and expensed over its remaining useful life. Costs and accumulated depreciation on assets retired or disposed of are removed from the accounts and any resulting gains or losses are recorded to earnings in the period of disposal. Business Combinations – The Company allocates the purchase price of acquisitions to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. Significant assumptions inherent in the valuation of the intangible assets acquired include the amount and timing of future cash flows, including expected growth rates, profitability and customer attrition rate, and the discount rate applied to the projected cash flows, among other considerations, from the vantage point of a market participant. The excess of the acquisition price over those estimated fair values is recorded as goodwill. Changes to the acquisition date provisional fair values prior to the end of the measurement period are recorded as adjustments to goodwill. Goodwill – Goodwill is tested for impairment at the reporting unit level annually in the fourth quarter, or when events or changes in circumstances indicate that goodwill might be impaired using either a qualitative or quantitative approach. The Company's reporting units are determined based upon its organizational structure in place at the date of the goodwill impairment test. The Company may elect to first assess qualitative factors to determine whether it is more likely than not (greater than 50%) that the fair value of a reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic, market and industry conditions, cost factors, and overall financial performance of the reporting units. If we do not perform a qualitative assessment, or if the qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative test. For the quantitative test, the Company tests for impairment by comparing the fair value of a reporting unit to its carrying value. The fair value of a reporting unit is based equally on market multiples and the present value of discounted future cash flows. The discounted cash flows are prepared based upon cash flows at the reporting unit level. The cash flow model utilized in the goodwill impairment test involves significant judgments related to future growth rates, gross profit, operating expenses and discount rates, among other considerations from the vantage point of a market participant. If the fair value of a reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired and no further testing is required. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, the goodwill impairment loss is calculated as the difference between these amounts, limited to the amount of goodwill allocated to the reporting unit. The primary components of and assumptions used in the assessment consist of the following: • Valuation Techniques - the Company uses a discounted cash flow analysis, which requires assumptions about short and long-term net cash flows, growth rates and discount rates. Additionally, it considers guideline company and guideline transaction information, where available, to aid in the valuation of the reporting units. • Growth Assumptions - Multi-year financial forecasts are developed for each reporting unit based on several key growth drivers, such as new business initiatives, client service and retention standards, market share changes, historical performance and industry and economic trends, among other considerations. • Discount Rate Assumptions - Discount rates are estimated based on the WACC, which combines the required return on equity and considers the risk-free interest rate, market risk premium, size risk premium and a company-specific risk premium, with the cost of debt, based on rated corporate bonds, adjusted using an income tax factor. • Estimated Fair Value and Sensitivitie s - The estimated fair value of each reporting unit is derived from the valuation techniques described above. This fair value is analyzed in relation to numerous market and historical factors, including current economic and market conditions, company-specific growth opportunities and guideline company information. Indefinite-Lived Intangible Assets – Indefinite-lived intangible assets are reviewed for potential impairment on an annual basis, in the fourth quarter, or more frequently when events or circumstances indicate that such assets may be impaired, by comparing their estimated fair values to their carrying values. An impairment charge is recognized when the carrying value of an indefinite-lived intangible asset exceeds its estimated fair value. The Company uses the “relief from royalty” method to estimate the fair value of trade name intangible assets for impairment. The primary assumptions used to estimate the present value of cash flows from such assets include sales projections and growth rates being applied to a prevailing market-based royalty rate; the effects of which are then tax effected and discounted using the WACC from the vantage point of a market participant. Assumptions concerning sales projections are impacted by the uncertain nature of global and local economic conditions in the various markets it serves. Finite-Lived Intangible Assets – Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, which currently range from 8 to 25 years for customer relationships, 3 to 10 years for developed technologies, 5 to 20 years for trade names, 15 years for reacquired distribution rights and up to 5 years for other intangible assets. If circumstances require a long-lived asset group to be tested for possible impairment, the Company first determines if the estimated undiscounted future pre-tax cash flows expected to result from the use of the asset or asset group plus net proceeds expected from disposition of the asset or asset group, if any, are less than its carrying value. When an impairment is identified, the carrying value of the asset is reduced to its estimated fair value. Leases – The Company determines whether an arrangement is a lease at inception. Right-of-use (or ROU) assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The interest rate used to determine the present value of future lease payments is the Company's incremental borrowing rate as the implicit rate in its leases is not readily determinable. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis for borrowings with similar terms and payments. The Company's leases may include variable payments such as common area maintenance, insurance, real estate taxes, changes in price indices or other costs, which are expensed as incurred. ROU assets also include any lease payments made prior to commencement and are recorded net of any lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. Contingencies and Commitments – The Company records accruals for loss contingencies and commitments which are both probable and reasonably estimable. Significant judgment is required to determine both probability and the estimated amount of loss. The Company reviews accruals on a quarterly basis and adjusts, as necessary, to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other current information. Legal fees are expensed as incurred. Environmental Matters – 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. Costs related to environmental contamination treatment and cleanup are charged to expense. The accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets as “Accrued expenses and other current liabilities” and “Other liabilities” at undiscounted amounts. Receivables for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as “Other current assets" and "Other assets." Employee Benefits – Amounts recognized in the Company's Consolidated Financial Statements related to pension and other post-retirement benefits are determined from actuarial valuations. Inherent in such valuations are assumptions, including expected return on plan assets, discount rates at which the liabilities could be settled, rates of increase in future compensation levels and mortality rates. These assumptions are updated annually and are disclosed in Note 10, Pension, Post-Retirement and Post-Employment Plans , to the Consolidated Financial Statements. Actual results that differ from the assumptions are recorded in "Accumulated other comprehensive loss" within Stockholders’ Equity and amortized over future periods and, therefore, affect expense recognized. The Company considers a number of factors in determining and selecting assumptions for the overall expected long-term rate of return on plan assets, including the historical long-term return experience of its plan assets as well as their current and expected allocation and expected long-term rates of return. Expected long-term rates of return are determined with the assistance of investment advisors. The Company bases its expected allocation of plan assets on a diversified portfolio consisting of domestic and international equity securities, fixed income securities and alternative asset classes. The measurement date used to determine pension and other post-retirement benefits is December 31. Derivatives – The Company recognizes all contracts that meet the definition of a derivative as either assets or liabilities in the Consolidated Balance Sheets and measures those instruments at fair value. To designate a derivative for hedge accounting at inception and throughout the hedge period, the Company formally documents the nature and relationships between the hedging instrument and hedged item, as well as its risk-management objectives and strategies for undertaking various hedge transactions and the method of assessing hedge effectiveness. Additionally, for hedges of forecasted transactions, the significant characteristics and expected terms of forecasted transactions are specifically identified, and the likelihood of each forecasted transaction occurring is deemed probable. If it is determined that a forecasted transaction will not occur, a gain or loss is recognized in current earnings. Financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged, both at inception and throughout the hedged period. The Company does not engage in trading or other speculative uses of financial instruments. It is the Company's policy to disclose the fair value of derivative instruments that are subject to master netting arrangements on a gross basis in the Consolidated Balance Sheets. If hedge accounting is applied, the effective portion of unrealized gains and losses associated with the derivatives are deferred as a component of "Accumulated other comprehensive loss" until the underlying hedged transactions are reported in the Company’s Consolidated Statements of Operations. For derivative contracts not designated as hedging instruments, the Company records changes in the net fair value of such contracts in "Other (expense) income, net" in the Consolidated Statements of Operations. 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 Consolidated Statements of Cash Flows. Proceeds from the monetization of interest rate swaps are reflected as "Cash flows from operating activities" and proceeds from the monetization of cross-currency swaps are reflected as "Cash flows from investing activities" in the Consolidated Statements of Cash Flows. See Note 13, Financial Instruments , to the Consolidated Financial Statements for further information. Financial Instruments – The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and debt. The Company believes that the carrying value of its cash and cash equivalents, accounts receivable and accounts payable are representative of their respective fair values because of their short maturities. Foreign Currency Translation – The Company’s foreign subsidiaries primarily use their local currency as their functional currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using foreign currency exchange rates prevailing at the balance sheet dates. The Consolidated Statements of Operations are translated at average foreign currency exchange rates for the periods presented. Cumulative currency translation adjustments are included in the stockholders’ equity section of the Consolidated Balance Sheets as "Accumulated other comprehensive loss." Net gains and losses from transactions denominated in currencies other than the functional currency of the entity are included in the Consolidated Statements of Operations as "Foreign exchange gains (losses)." Revenue Recognition – The Company recognizes revenue when a customer obtains control of the products it purchased, which occurs upon shipment or delivery, when title or the risks and rewards of ownership have been passed on to the customer, the Company's performance obligations have been fulfilled and collectability is probable. Estimates for sales rebates, incentives and discounts as well as sales returns and allowances are accounted for as reductions of revenue when the earnings process is complete. Sales rebates, incentives and discounts are typically earned by customers based on annual sales volume targets. The Company records an estimate for these accruals based on contract terms and its historical experience with similar programs, however, changes to these estimates may be required if the historical data used in the calculation differs from actual experience. Differences between estimated expense and actual costs are typically immaterial and are recognized in earnings in the period such differences are determined. Variable consideration for volume discounts, rebates and returns are recorded as liabilities and settled with the customer in accordance with the terms of the applicable contract, typically when program requirements are achieved by the customer. Most performance obligations relate to contracts with a duration of less than one year, in which the Company has the right to invoice the customer at the time the performance obligation is satisfied for the amount of revenue recognized at that time. The Company expenses incremental costs for obtaining contracts with terms of less than one year. See Note 22, Segment Information, to the Consolidated Financial Statements for a disaggregation of net sales by business unit. Research and Development – Research and development costs, which primarily relate to internal salaries, are expensed as incurred. Income Taxes – The Company recognizes deferred tax assets and liabilities based on the differences between the financial statement basis and the tax basis of assets, liabilities, net operating losses and tax carryforwards. A valuation allowance is required to be recognized to reduce the recorded deferred tax asset to the amount that will more likely than not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income by jurisdiction during the periods in which those temporary differences become deductible or when carryforwards can be utilized. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in this assessment. If these estimates and related assumptions change in the future, the Company may be required to record additional valuation allowances against its deferred tax assets, resulting in additional income tax expense. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of such change. Tax benefits are recognized for an uncertain tax position when the Company considers it is more likely than not that the position will be sustained upon examination by a taxing authority or upon completion of the litigation process. For a tax position that meets the more-likely-than-not recognition threshold, the tax benefit is measured as the largest amount that is judged to have a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority. The liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances and when new information becomes available. Such adjustments are recognized in the period in which they are identified. Stock-Based Compensation Plans – Stock-based compensation is recorded in the Consolidated Statements of Operations as "Selling, technical, general and administrative" expense over the requisite service period based on the estimated grant-date fair value of the awards, effected for forfeitures as they occur. The fair value of RSU awards is determined using the closing price of Element Solutions' common stock on the date of grant. Compensation costs for awards with performance conditions are only recognized if and when it becomes probable that the performance conditions will be achieved. The probability of vesting is reassessed at the end of each reporting period and the compensation costs are adjusted accordingly with the cumulative effect of such a change on current and prior periods being recognized in compensation cost in the period of the change. Earnings Per Share – Basic earnings per share excludes dilution and is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of all potentially dilutive share equivalents using the if-converted or treasury stock methods, provided that the effects of which are not anti-dilutive. For stock options and RSUs, it is assumed that the proceeds will be used to buy back shares. For stock options, such proceeds equal the average unrecognized compensation plus the assumed exercise of weighted average number of options outstanding. For unvested RSUs, the assumed proceeds equal the average unrecognized compensation expense. Fair Value Measurements – The Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to determine fair values are classified based on a three-level hierarchy. The basis for fair value measurements for each level within the hierarchy is described below, with Level 1 having the highest priority and Level 3 having the lowest. The three levels of the fair value hierarchy are as follows: • Level 1 – inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 – inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in non-active markets; and model-derived valuations whose inputs are observable or whose significant valuation drivers are observable. • Level 3 – inputs to valuation models are unobservable and/or reflect the Company’s market assumptions. The fair value hierarchy is based on maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Classification within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company transfers the fair value of an asset or liability between levels of the fair value hierarchy at the end of the reporting period during which a significant change in the inputs used to determine the fair value has occurred. NAV Practical Expedient is the measure of fair value using the net asset value (or NAV) per share (or its equivalent) as an alternative to the fair value hierarchy discussed above.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements Segment Reporting (Topic 280) - In November 2023, the FASB issued ASU No. 2023-07, "Improvements to Reportable Segment Disclosures," which requires the disclosure of significant segment expenses and other segment items on an annual and interim basis. The Company adopted the new standard on December 31, 2024. The adoption of the standard did not have a material impact to the Consolidated Financial Statements. See Note 22, Segment Information, to the Consolidated Financial Statements for further information. Recently Issued Accounting Pronouncements Not Yet Adopted Income Taxes (Topic 740) - In December 2023, the FASB issued ASU No. 2023-09, "Improvements to Income Tax Disclosures," which requires enhanced disclosures in the effective tax rate reconciliation and the disclosure of income taxes paid by jurisdiction. The guidance is effective for annual periods beginning in fiscal year 2025. The Company is currently evaluating the impact of this new standard on its disclosures to the Consolidated Financial Statements. Income Statement (Topic 220) - In November 2024, the FASB issued ASU No. 2024-03, "Reporting Comprehensive Income -Expense Disaggregation Disclosures," which requires enhanced disclosures regarding certain expenses in the financial statements. The guidance is effective for annual periods beginning in fiscal year 2027 and interim periods within fiscal years beginning in fiscal year 2028. The Company is currently evaluating the impact of this new standard on its disclosures to the Consolidated Financial Statements.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS ViaForm Distribution Rights On June 1, 2023, the Company reacquired the right to market and distribute directly (rather than through its exclusive distributor) its ViaForm® electrochemical deposition products by terminating a long-standing distribution agreement for $200 million, including $170 million paid at closing and a deferred payment of $30.0 million which was paid in the fourth quarter of 2023. Following the completion of the transaction, the Company now manages all aspects of the ViaForm® product line in-house, which it believes will result in a more efficient supply chain and improved customer outcomes for leading semiconductor fabricators. The transaction did not meet the accounting definition of a business which precluded any goodwill from being recognized and resulted in the Company capitalizing $0.5 million of transaction costs. The financial results of this transaction are included in the Company's Semiconductor Solutions business within its Electronics segment. In connection with the transaction, the Company recognized a reacquired distribution right intangible asset of $187 million, which will be amortized over 15 years, and a receivable of $13.5 million, which was settled in the fourth quarter of 2023 with $6.1 million of inventory and $7.4 million cash (which reduced the purchase price paid by the cash received). The amounts paid are deductible for tax purposes. Kuprion Acquisition On May 19, 2023, the Company completed the Kuprion Acquisition for $15.9 million, net of cash, with potential additional payments in various installments, which are not to exceed $259 million in aggregate, to be made upon the achievement of certain milestones associated with product qualification and revenue through December 31, 2030. The Company acquired Kuprion, Inc. to complement its next-generation nano-copper technology for the semiconductor, circuit board and electronics assembly markets. As the acquisition did not meet the accounting definition of a business and the technology acquired was still in development with no alternative future use, $15.7 million was expensed to "Research and development" in the Consolidated Statements of Operations. Any potential earn-out payments to be paid based on milestones will be recognized when probable and estimable and either expensed as additional research and development expense, if the technology did not yet meet the accounting definition of an asset, or capitalized as a developed technology intangible asset. The Company did not make any payments associated with the contingent consideration during the year ended December 31, 2023. Kuprion, Inc. is included in the Company's Semiconductor Solutions business within its Electronics segment. 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 expensed to "Research and development" in the Consolidated Statements 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 Consolidated Statements of Cash Flows as a cash outflow from investing activities. The amounts paid, including future consideration, are not deductible for tax purposes. HSO Acquisition

HELD FOR SALE

HELD FOR SALE	12 Months Ended
	Dec. 31, 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 first quarter of 2025, subject to customary closing conditions and adjustments. 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 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) December 31, 2024 Assets held for sale: Accounts receivable, net $ 28.7 Inventories 30.6 Other current assets 5.9 Current assets held for sale $ 65.2 Property, plant and equipment, net 35.3 Goodwill 127.9 Intangible assets, net 11.0 ROU assets 11.3 Other assets 3.4 Non-current assets held for sale $ 188.9 Liabilities held for sale: Accounts payable $ 9.3 Accrued expenses and other current liabilities 9.4 Current liabilities held for sale $ 18.7 Non-current lease liabilities 11.4 Other liabilities 2.1 Non-current liabilities held for sale $ 13.5

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The major components of inventories, on a net basis, were as follows: December 31, (dollars in millions) 2024 2023 Finished goods $ 137.4 $ 176.2 Work in process 35.6 37.5 Raw materials and supplies 73.2 85.2 Total inventories $ 246.2 $ 298.9

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 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: December 31, (dollars in millions) 2024 2023 Land and leasehold improvements $ 48.0 $ 51.7 Buildings and improvements 180.0 168.5 Machinery, equipment, fixtures and software 313.1 334.3 Construction in process 55.5 66.7 Total property, plant and equipment 596.6 621.2 Accumulated depreciation (319.8) (324.3) Property, plant and equipment, net $ 276.8 $ 296.9

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 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, 2022 $ 1,304.0 $ 1,108.8 (1) $ 2,412.8 Transfer of Films business (2) 7.9 (7.9) — Goodwill impairment — (80.0) (80.0) Foreign currency translation and other (13.2) 17.1 3.9 Balance at December 31, 2023 1,298.7 1,038.0 (3) 2,336.7 Held for sale (4) — (130.4) (130.4) Foreign currency translation and other (40.6) (33.7) (74.3) Balance at December 31, 2024 $ 1,258.1 $ 873.9 (1) $ 2,132.0 (1) Includes accumulated impairment losses of $46.6 million at December 31, 2024 and December 31, 2022, respectively. (2) In the first quarter of 2023, the Company transferred operational responsibility of its Films business from its Graphics Solutions business within its Industrial & Specialty segment to its Electronics segment. Goodwill was reallocated using a relative fair value approach and assessed for impairment both before and after the allocation. See Note 1, Background and Basis of Presentation, to the Consolidated Financial Statements for further information. (3) Includes accumulated impairment losses of $127 million. (4) As a result of the MGS Transaction, MacDermid Graphics Solutions' assets and liabilities, including goodwill, were classified as held for sale in the Consolidated Balance Sheets as of December 31, 2024. Goodwill held for sale includes accumulated impairment losses of $80.0 million. See Note 5, Held for Sale, to the Consolidated Financial Statements for further information regarding the MGS Transaction. 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 which confirmed that goodwill was impaired, and the Company recorded an $80.0 million impairment charge in the Consolidated Statements 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 recent 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 and there have been no events or changes in circumstances that indicated that goodwill was further impaired. As of December 31, 2024, the goodwill assigned to the Graphics Solutions reporting unit was reported as an asset held for sale. See Note 5, Held for Sale , to the Consolidated Financial Statements for further information. No impairments of goodwill were recognized for any of the Company's other reporting units during the year ended December 31, 2023 and no impairments of goodwill were recognized during the years ended December 31, 2024 and 2022. Intangible Assets, Net The major components of intangible assets, net were as follows: December 31, 2024 December 31, 2023 (dollars in millions) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 830.5 $ (447.8) $ 382.7 $ 978.4 $ (505.9) $ 472.5 Developed technology 291.4 (233.3) 58.1 410.0 (316.2) 93.8 Trade names 92.9 (37.0) 55.9 95.9 (30.9) 65.0 Reacquired distribution rights 187.0 (19.7) 167.3 187.0 (7.3) 179.7 Other — — — 0.8 (0.5) 0.3 Indefinite-lived trade name 68.0 — 68.0 68.0 — 68.0 Total $ 1,469.8 $ (737.8) $ 732.0 $ 1,740.1 $ (860.8) $ 879.3 For 2024, 2023 and 2022, the Company recorded amortization expense on intangible assets of $118 million, $124 million and $120 million, respectively. No impairments of indefinite-lived intangible assets were recognized during the years ended December 31, 2024, 2023 and 2022. Estimated future amortization of intangible assets for each of the next five years is as follows: (dollars in millions) Amortization Expense 2025 $ 103.0 2026 70.4 2027 68.9 2028 68.8 2029 68.5

LONG-TERM COMPENSATION PLANS

LONG-TERM COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
LONG-TERM COMPENSATION PLANS	LONG-TERM COMPENSATION PLANS In 2014 the Company's stockholders adopted the 2013 Plan in connection which a maximum of 15,500,000 shares of common stock were reserved and made available for issuance. On June 4, 2024, the Company adopted the 2024 Plan. Under the 2024 Plan, an additional 10,000,000 shares were reserved for issuance in connection with the vesting of equity-based awards to be granted to our officers, other employees and directors. If awards under our 2013 Plan are forfeited, cancelled, expired or otherwise terminated, the number of shares available under the 2024 Plan will be increased by that amount. For 2024, 2023 and 2022, compensation expense associated with the Company's long-term compensation plans was as follows: Year Ended December 31, (dollars in millions) 2024 2023 2022 RSUs $ 14.8 $ 9.3 $ 17.4 Stock options — 0.1 0.3 Total $ 14.8 $ 9.4 $ 17.7 Unrecognized compensation expense for awards expected to vest $ 19.4 Weighted average remaining vesting period (months) 19 At December 31, 2024, a total of 9,767,258 shares of common stock had been issued, and 4,307,288 RSUs and stock options were outstanding. Total RSUs Stock Options Outstanding at December 31, 2023 4,256,974 3,872,289 384,685 Granted 1,041,581 1,041,581 — Exercised/Issued (909,066) (892,085) (16,981) Forfeited (82,201) (82,201) — Outstanding at December 31, 2024 4,307,288 3,939,584 367,704 The total fair value of RSUs which vested during 2024, 2023 and 2022 was $20.9 million, $21.2 million and $70.8 million respectively, based on the stock price on the date of vest. RSUs The Company granted the following equity classified RSUs: Year of Issuance: RSUs Weighted Average Grant Date Fair Value Weighted Average Vesting Period (months) 2024 1,041,581 $ 22.54 28 2023 1,185,157 $ 19.75 27 2022 2,847,135 $ 23.23 51 Certain of the RSUs granted during the period contain performance vesting conditions in addition to a service vesting condition. RSUs granted with service or performance vesting conditions were valued at the grant date stock price. Certain RSUs with performance vesting conditions also contain provisions for additional share awards in the event certain performance conditions are met at the end of the applicable measurement periods. These conditions are generally based on Adjusted EBITDA, adjusted earnings per share and cash return on investment. In February 2022, certain key executives were granted 1.95 million performance-based RSUs with an aggregate fair value of $45.4 million. The vesting of these shares is subject to the achievement by the Company of a performance target of adjusted earnings per share of $2.72 by December 31, 2026, and continuous service. If the performance target is achieved, the actual number of shares vested will be determined by applying a total shareholder return (TSR) multiplier based on the Company's TSR relative to a benchmark index for the performance period. The TSR multiplier will range from 0.85 to 1.15. The Company has not recognized compensation expense for these awards as the achievement of the performance target was not probable at December 31, 2024, 2023 and 2022 respectively. At December 31, 2024, the following equity classified RSUs were outstanding: December 31, 2024 Vesting Conditions: Outstanding Weighted Average Remaining Vesting Period (months) Potential Additional Awards Service-based 616,477 10 — Performance-based 1,373,107 15 1,373,107 Performance-based awards deemed not probable 1,950,000 26 292,500 Total 3,939,584 16 1,665,607 Stock Options

PENSION, POST-RETIREMENT AND PO

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS	PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS For 2024, 2023 and 2022, the net periodic benefit for all plans totaled $1.8 million, $1.5 million and $2.8 million, respectively. Domestic Defined Benefit Pension Plan The domestic non-contributory defined benefit pension plan is closed to new participants. Pursuant to this plan, retirement benefits are provided based upon years of service and compensation levels. An investment committee, appointed by the Board, manages the plan and its assets in accordance with the plan’s investment policies. These investment policies incorporate an asset allocation strategy that emphasizes the long-term growth of capital and acceptable asset volatility as long as it is consistent with the volatility of the relevant market indexes. The investment policies attempt to achieve a mix of approximately 95% of plan investments for liability-matching, 3% for long-term growth and 2% for near-term benefit payments. The Company believes this strategy is consistent with the long-term nature of plan liabilities and ultimate cash needs of the plan. Plan assets consist primarily of listed stocks, equity security funds, short-term treasury bond mutual funds, long-credit funds and derivatives. The weighted average asset allocation of the plan was 95% fixed income holdings, 3% equity securities and derivatives and 2% cash at December 31, 2024. Actual pension expense and future contributions required to fund this pension plan will depend on future investment performance, changes in future discount rates, the level of Company contributions and various other factors related to the populations participating in this pension plan. The Company evaluates the plan's actuarial assumptions on an annual basis, including the expected long-term rate of return on assets and discount rate, and adjusts the assumptions, as necessary, to ensure proper funding levels are maintained so that the plan can meet obligations as they become due. At December 31, 2024 and 2023, the projected benefit obligation for this pension plan totaled $157 million and $171 million, respectively. Supplemental Executive Retirement Plans The Company sponsors SERPs that entitle certain employees to the difference between the benefits actually paid to them and the benefits they would have received under the pension plan described above were it not for certain restrictions imposed by the Internal Revenue Service Code. Covered compensation under the SERPs includes an employee’s annual salary and bonus. At December 31, 2024 and 2023, the projected benefit obligation for the SERPs totaled $5.0 million and $5.8 million, respectively. Foreign Pension Plans The Company's international benefit plans are included in the tables presented below. These plans are not significant, individually or in the aggregate, to the Company's consolidated financial position, results of operations or cash flows. At December 31, 2024 and 2023, the projected benefit obligation for these foreign pension plans totaled $18.1 million and $19.8 million, respectively. Certain foreign subsidiaries maintain other benefit plans that are consistent with statutory practices, but do not meet the criteria for pension or post-retirement accounting and have therefore been excluded from the tables presented below. These benefit plans had obligation balances of $2.2 million and $3.1 million at December 31, 2024 and 2023, respectively, and were recorded in the Consolidated Balance Sheets as "Accrued expenses and other current liabilities" and "Pension and post-retirement benefits." Domestic Defined Benefit Post-Retirement Medical and Dental Plan The Company sponsors defined benefit post-retirement medical and dental plans that covers all of its MacDermid, Incorporated, domestic full-time employees, hired prior to April 1, 1997, who retire after age 55, with at least ten The components of net periodic (benefit) cost of the Domestic and Foreign Pension Plans and Domestic Post-Retirement Medical Benefits were as follows: Year Ended December 31, 2024 2023 2022 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Foreign Pension and SERP Benefits Service cost $ — $ 0.6 $ — $ 0.6 $ — $ 0.8 Interest cost on the projected benefit obligation 8.4 0.6 8.7 0.7 6.3 0.3 Expected return on plan assets (11.3) (0.2) (10.7) (0.2) (10.1) (0.2) Amortization of actuarial net gain — — — (0.1) — (0.1) Plan curtailment — — — (0.4) — — Net periodic (benefit) cost $ (2.9) $ 1.0 $ (2.0) $ 0.6 $ (3.8) $ 0.8 Post-retirement Medical Benefits Interest cost on the projected benefit obligation $ 0.3 $ 0.3 $ 0.2 Amortization of actuarial net gain (0.2) (0.4) — Net periodic cost $ 0.1 $ (0.1) $ 0.2 The weighted average key assumptions used to determine the net periodic (benefit) cost of the Domestic and Foreign Pension Plans and Domestic Post-Retirement Medical Benefits were as follows: Year Ended December 31, 2024 2023 2022 Domestic Foreign Domestic Foreign Domestic Foreign Pension and SERP Benefits Discount rate 5.0% 3.1% 5.2% 3.5% 2.8% 1.2% Rate of compensation increase 3.0% 3.4% 3.0% 3.2% 3.0% 2.9% Interest crediting rate 5.3% 3.3% 5.3% 3.4% 5.3% 3.1% Long-term rate of return on assets 7.0% 3.1% 7.0% 3.6% 4.8% 3.1% Post-retirement Medical Benefits Discount rate 5.0% 5.1% 2.9% The expected long-term rate of return on assets assumption is developed with reference to historical returns, forward-looking return expectations, the Domestic and Foreign Pension Plans' investment allocations and peer comparisons. The following tables summarize changes in benefit obligation, plan assets and funded status of the Company’s plans: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Domestic Change in Projected Benefit Obligation: Beginning of period balance $ 176.6 $ 19.8 $ 175.2 $ 19.4 $ 5.4 $ 5.9 Service cost — 0.6 — 0.6 — — Interest cost 8.4 0.6 8.7 0.7 0.3 0.3 Plan curtailment — — — (0.4) — — Actuarial (gain) loss due to assumption change (9.3) (0.2) 3.0 0.8 (0.2) 0.1 Actuarial (gain) loss due to plan experience (1.7) 0.1 1.3 0.2 0.1 (0.5) Benefits and expenses paid (12.3) (1.0) (11.6) (0.8) (0.4) (0.4) Settlement — (0.4) — (1.0) — — Foreign currency translation — (1.4) — 0.3 — — End of period balance $ 161.7 $ 18.1 $ 176.6 $ 19.8 $ 5.2 $ 5.4 Change in Plan Assets: Beginning of period balance $ 168.4 $ 5.0 $ 158.7 $ 4.9 $ — $ — Actual return on plan assets, net of expenses 7.1 0.4 20.8 0.1 — — Employer contributions 0.8 1.6 0.5 1.7 0.4 0.4 Benefits paid (12.3) (1.0) (11.6) (0.8) (0.4) (0.4) Settlement — (0.4) — (1.0) — — Foreign currency translation — (0.4) — 0.1 — — End of period balance $ 164.0 $ 5.2 $ 168.4 $ 5.0 $ — $ — Funded Status Funded status of plan $ 2.3 $ (12.9) $ (8.2) $ (14.8) $ (5.2) $ (5.4) Supplemental Information: Accumulated benefit obligation $ 161.7 $ 16.3 $ 176.6 $ 17.4 $ 5.2 $ 5.4 Plans with Accumulated Benefit Obligation in excess of Plan Assets: Accumulated benefit obligation $ 5.0 $ 14.5 $ 176.6 $ 15.5 $ 5.2 $ 5.4 Fair value plan assets $ — $ 2.6 $ 168.4 $ 2.5 $ — $ — Plans with Projected Benefit Obligation in excess of Plan Assets: Projected benefit obligation $ 5.0 $ 15.9 $ 176.6 $ 19.6 $ 5.2 $ 5.4 Fair value plan assets $ — $ 2.6 $ 168.4 $ 4.6 $ — $ — Weighted average key assumptions used to determine the benefit obligations in the actuarial valuations of the pension and post-retirement benefit liabilities were as follows: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 Domestic Foreign Domestic Foreign Domestic Domestic Discount rate 5.6% 3.1% 5.0% 3.1% 5.6% 5.0% Rate of compensation increase 3.0% 3.3% 3.0% 3.4% N/A N/A Interest crediting rate 5.3% 2.9% 5.3% 3.3% N/A N/A (N/A) Not applicable. Amounts recognized in the Consolidated Balance Sheets and "Accumulated other comprehensive loss" consist of the following: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Domestic Balance Sheet Other assets $ 7.4 $ — $ — $ — $ — $ — Accrued expenses and other current liabilities 0.7 0.8 0.9 0.8 0.5 0.5 Pension and post-retirement benefits 4.4 12.1 7.3 14.0 4.7 4.9 Accumulated Other Comprehensive Loss Net actuarial (loss) gain $ (0.6) $ 1.5 $ (7.4) $ 1.4 $ 2.0 $ 2.1 The following table presents the fair value of plan assets: December 31, (dollars in millions) Classification 2024 2023 Asset Category Derivatives Level 2 $ 4.6 $ 7.7 Exchange-traded funds holding domestic securities Level 1 — 9.6 Foreign bonds Level 2 2.0 2.0 Mutual funds holding fixed income securities Level 1 43.2 35.2 U.S. Treasury bonds Level 2 38.3 30.8 Cash and cash equivalents Level 1 6.9 5.2 Sub-Total 95.0 90.5 Assets using net asset value (NAV) as a practical expedient 74.2 82.9 Total $ 169.2 $ 173.4 Assets using NAV as a practical expedient include commingled funds that are not actively traded or whose underlying investments are valued using observable marketplace inputs. At December 31, 2024, expected future benefit payments related to the Company’s defined benefit plans were as follows: Pension and SERP Benefits Post-Retirement Medical Benefits Total (dollars in millions) Domestic Foreign 2025 $ 13.4 $ 1.3 $ 0.5 $ 15.2 2026 13.2 1.2 0.5 14.9 2027 13.3 1.1 0.4 14.8 2028 13.5 1.0 0.4 14.9 2029 13.2 1.0 0.4 14.6 Subsequent five years 62.8 9.7 1.9 74.4 Total $ 129.4 $ 15.3 $ 4.1 $ 148.8 The measurement date used to determine pension and other post-retirement medical benefits was December 31, 2024, at which time the minimum contribution level for the following year was determined. The Company is not required to make any plan contributions in 2025.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income before income taxes and non-controlling interests was as follows: Year Ended December 31, (dollars in millions) 2024 2023 2022 Domestic $ 48.7 $ 2.6 $ 125.0 Foreign 239.0 126.5 147.0 Total $ 287.7 $ 129.1 $ 272.0 Income tax expense consisted of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 Current: U.S.: Federal $ (1.6) $ 7.9 $ 0.6 State and local 2.5 2.7 1.8 Foreign 83.1 72.3 68.3 Total current 84.0 82.9 70.7 Deferred: U.S.: Federal 1.9 (57.2) 17.5 State and local 1.5 (0.6) 8.3 Foreign (42.6) (12.1) (10.7) Total deferred (39.2) (69.9) 15.1 Income tax expense $ 44.8 $ 13.0 $ 85.8 Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate to pre-tax income, as a result of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 U.S. federal statutory tax rate 21 % 21 % 21 % Taxes computed at U.S. statutory rate $ 60.4 $ 27.1 $ 57.1 State income taxes, net of federal benefit 3.5 1.8 4.6 U.S. tax on foreign operations 4.2 1.8 3.2 Section 250 deduction (10.5) (10.8) — Foreign tax credits (13.2) (8.2) — Foreign tax on foreign operations 20.8 13.0 13.0 Change in valuation allowances (67.3) (0.1) 6.4 Tax on undistributed foreign earnings 0.8 5.1 5.9 Changes in uncertain tax positions 6.5 1.9 0.2 Non-deductible goodwill impairment and Kuprion Acquisition research and development charge 0.9 20.6 — Impact of amended U.S. tax returns 12.1 (37.3) — Outside basis difference - Graphics business (22.5) — — Gain on Graphics restructuring 43.6 — — Rate changes 6.3 — — Other, net (0.8) (1.9) (4.6) Income tax expense $ 44.8 $ 13.0 $ 85.8 Effective tax rate 16 % 10 % 32 % The income tax expense of $44.8 million for the year ended December 31, 2024, is below the statutory U.S. rate primarily driven by a continued U.S. benefit related to claiming foreign tax credits consistent with our election in the fourth quarter of 2023, release of valuation allowances and deductions for FDII, with offsets from withholding taxes, tax attribute expirations and the impact of changes to the geographical mix of earnings. The rate for 2024 also includes a benefit associated with the release of valuation allowances of $40.8 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 U.K. business and a shift to a three-year cumulative income position. The Company determined there was sufficient positive, objectively verifiable evidence to conclude that it is more likely than not that, as of December 31, 2024, select U.K. net deferred tax assets will be realized. These expectations are based on actual results, management's assessment of projected future taxable income, and expected utilization of net operating losses and tax carryforwards. During the third quarter of 2024, an internal restructuring of the Graphics business was completed which resulted in the recognition of a capital gain of $208 million. This gain was offset by capital losses generated in 2024 totaling $10.1 million and capital loss carryforwards of $198 million. The capital gain provided income of the appropriate character to support the release of a valuation allowance on the amount of the capital loss carryforward utilized. The remaining unused capital loss carryforward with a full valuation allowance expired at the close of 2024. The capital gain also resulted in a higher interest expense deduction and consequentially a lower deduction for FDII and lower utilization of certain foreign tax credits carryforwards before expiration. In addition, the gain resulted in a step-up in tax basis and the Company recorded a deferred tax asset of $22.5 million on the excess of stock tax basis over book basis due to the subsequent held for sale classification. As of the balance sheet date, there is not sufficient objectively verifiable evidence supporting income of the appropriate character to realize this tax benefit; therefore, a valuation allowance has been recorded against this deferred tax asset. Due to status of the MGS Transaction it is reasonably possible the status of this deferred tax assets and related valuation allowance are subject to change due to one or more future confirming events. During 2024, the Company finalized the 2023 consolidated U.S. federal income tax return along with prior years amended federal corporate income tax returns related to crediting foreign taxes including the return-to-provision true-up of foreign tax credits, valuation allowances and prior year one-time benefit. The income tax expense of $13.0 million for the year ended December 31, 2023, included a discrete benefit of $34.2 million related to changing an election to credit foreign taxes from our previous position which was to deduct foreign taxes. This is comprised of a $37.3 million impact of amending prior U.S. tax returns offset by $3.1 million from the net increase of valuation allowances on foreign tax credit carryforwards. In addition, the election to credit foreign taxes for the 2023 fiscal year resulted in an incremental $8.2 million of tax expense reduction. The rate for 2023 also includes an increase for non-deductible GAAP expenses related to a goodwill impairment charge of $80.0 million recognized in the third quarter of 2023 (see Note 8, Goodwill and Intangible Assets, Net, to the Consolidated Financial Statements for further information), as well as $15.7 million of research and development expenses related to the Kuprion transaction (see Note 4, Acquisitions , to the Consolidated Financial Statements for further information). Other activity in the 2023 tax rate includes a benefit from a U.S. tax deduction related to FDII, offset by current and deferred taxes based on jurisdictional mix of earnings and withholding taxes. The income tax expense of $85.8 million for the year ended December 31, 2022, included current and deferred taxes based on jurisdictional earnings, withholding taxes, and the impact of GILTI and subpart F income regimes. The components of deferred income taxes at December 31, 2024 and 2023 were as follows: December 31, (dollars in millions) 2024 2023 Deferred tax assets: Net operating losses $ 79.5 $ 87.8 Interest carryforward 74.9 81.4 Capital loss carryforward 4.2 53.5 Tax credits 47.3 64.6 Employee benefits 14.4 17.9 Research and development costs 30.5 33.2 Accrued liabilities 5.3 6.4 Outside basis difference - Graphics business 22.5 — Other 32.7 40.0 Total gross deferred tax assets 311.3 384.8 Valuation allowances (69.5) (143.6) Total deferred tax assets 241.8 241.2 Deferred tax liabilities: Intangible assets 130.6 154.5 Property, plant and equipment 26.7 33.2 Undistributed foreign earnings 32.9 32.3 Goodwill 12.2 9.6 Total deferred tax liabilities 202.4 229.6 Net deferred tax asset (liability) $ 39.4 $ 11.6 The Company provides for income and withholding taxes on previously unremitted earnings of foreign subsidiaries. At December 31, 2024, the Company had accrued a deferred tax liability of $32.9 million of income and withholding taxes that would be due upon the distribution of such earnings from non-U.S. subsidiaries to the U.S. During 2022, the Company’s plans and expectations around the use of cash in subsidiaries and indefinitely reinvested amounts changed and, as a result, the prior assertion was modified, and the Company is no longer asserting any of its available foreign earnings are permanently reinvested. At December 31, 2024, the Company had federal, state and foreign net operating loss carryforwards of approximately $2.4 million, $511 million and $216 million, respectively. The U.S. federal net operating loss carryforwards expire between 2027 and 2037 or may be carried forward indefinitely. The majority of the state net operating loss carryforwards expire between 2025 and 2042. The foreign tax net operating loss carryforwards expire between 2025 through 2037 or may be carried forward indefinitely. In addition, at December 31, 2024, the Company had capital loss carryforwards, foreign tax credits, and other tax credits of approximately $16.9 million, $38.8 million and $7.7 million, respectively, available for carryforward. For the year ended December 31, 2023, the U.S. capital loss carryforwards of $226 million had a full valuation. However, due to the Graphics business restructuring, the Company was able to use $198 million and release the valuation allowance on such amount. The remainder of the capital loss with its full valuation allowance expired at the close of the year. The carryforward periods of the remaining tax credits range from ten years to an unlimited period of time. If certain changes in the Company's ownership occur, there could be an annual limitation on the amounts of utilizable carryforwards. Uncertain Tax Positions The following table summarizes the activity related to the Company’s unrecognized tax benefits: Year Ended December 31, (dollars in millions) 2024 2023 2022 Unrecognized tax benefits at beginning of period $ 111.6 $ 99.8 $ 106.6 Additions based upon prior year tax positions 14.9 19.6 1.0 Additions based on current year tax positions 13.8 9.6 5.3 Reductions for prior period positions (3.4) (15.1) (5.7) Reductions for settlements and payments (3.3) (1.6) (1.7) Reductions due to closed statutes (8.4) (1.3) (1.9) Currency translation adjustment (2.7) 0.6 (3.8) Total unrecognized tax benefits at end of period $ 122.5 $ 111.6 $ 99.8 At December 31, 2024, the Company had $123 million of total unrecognized tax benefits, all of which, if recognized, would impact the Company’s effective tax rate. Due to expected settlements and statute of limitations expirations, the Company estimates that $8.9 million of the total unrecognized benefits will reverse within the next twelve months. The Company recognizes interest and/or penalties related to income tax matters as part of income tax expense, which totaled $2.6 million, $3.7 million and $1.1 million, for 2024, 2023 and 2022, respectively. The Company's liability for interest and penalties totaled $11.2 million and $13.0 million at December 31, 2024 and 2023, respectively. At December 31, 2024, the following tax years remained subject to examination by the major tax jurisdictions indicated below: Major Jurisdictions Open Years China 2018 through current Germany 2018 through current Taiwan 2023 through current United Kingdom 2008, 2021 through current United States 2021 through current The Company is currently undergoing tax examinations in several jurisdictions. Although the Company believes it has appropriately accrued for the expected outcome of uncertain tax matters and made reasonable provisions for taxes ultimately expected to be paid, tax liabilities may need to be adjusted as tax examinations continue to progress.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The Company’s debt obligations consisted of the following: (dollars in millions) Maturity Date Interest Rate December 31, 2024 December 31, 2023 Term Loans (1) 2030 SOFR plus 1.75% $ 1,030.0 $ 1,140.2 Senior Notes - $800 million (2) 2028 3.875% 794.0 792.3 Total debt 1,824.0 1,932.5 Less: current installments of long-term debt 10.4 11.5 Total long-term debt $ 1,813.6 $ 1,921.0 (1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at December 31, 2024 and 2023, respectively. The effective interest rate was 3.0% and 3.3% at December 31, 2024 and 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 13, Financial Instruments, to the 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 $6.0 million and $7.7 million at December 31, 2024 and 2023, respectively. The effective interest rate was 4.1% at both December 31, 2024 and 2023. Minimum future principal payments on long-term debt were as follows: (dollars in millions) 2025 $ 10.4 2026 10.4 2027 10.4 2028 810.4 2029 10.4 Thereafter 986.8 Total $ 1,838.8 Credit Agreement The Company is a party to the Credit Agreement, which provides for senior secured credit facilities in an initial aggregate principal amount of $1.42 billion, consisting of a tranche of term loans B-3 of $1.04 billion, maturing in 2030, and a revolving credit facility of $375 million, maturing in 2027. The proceeds from the term loans B-3, together with cash on hand, were used to fully prepay the Company's prior $1.14 billion term loans B-2 pursuant to the terms of an amendment to the Credit Agreement, dated October 15, 2024. Except for their annual interest rate based on an adjusted one-month SOFR (as described in the Credit Agreement) plus a spread of 1.75%, the term loans B-3 have substantially the same terms as the former term loans B-2, including their maturity date. The Company recorded expense of $1.0 million to "Selling, technical, general and administrative" and a gain of $0.2 million to "Other (expense) income, net" (which includes $1.2 million of cash proceeds from the termination of interest rate swaps) in the Consolidated Statements of Operations as a result of this transaction. 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 December 31, 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 $368 million, net of letters of credit, under the revolving credit facility. The Company is required to pay a commitment fee on any undrawn portion of the revolving credit facility which is not material. 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. At December 31, 2024 and 2023, respectively, there were no material amounts outstanding under such facilities. The Company had letters of credit outstanding of $7.0 million and $6.2 million at December 31, 2024 and 2023, respectively, which reduced the borrowings available under the various facilities. At December 31, 2024 and 2023, the availability under these facilities totaled approximately $390 million and $392 million, respectively, net of outstanding letters of credit.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 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 Consolidated Statements 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. In October 2024, in connection with the funding of the term loans B-3, the Company terminated and monetized $100 million notional of the interest rate swaps and cross-currency swaps related to its term loans that would have matured in January 2025. The Company received cash proceeds of $1.2 million upon the termination of the applicable interest rate swaps and recorded the benefit to "Other (expense) income, net" in the Consolidated Statements of Operations. In addition, the Company received cash proceeds of $4.8 million upon the termination of the applicable cross-currency swaps which will remain in "Accumulated other comprehensive loss" until the hedged net investment is sold or liquidated. In December 2023, in connection with the funding of the term loans B-2, the Company terminated and monetized $865 million notional of the interest rate swaps and cross-currency swaps related to its term loans which were scheduled to mature in 2024 and 2026. The Company received cash proceeds of $7.8 million upon the termination of the applicable interest rate swaps with the benefit being subsequently amortized as a reduction to “Interest expense, net” in the Consolidated Statements of Operations. In addition, the Company received cash proceeds of $18.6 million upon the termination of the applicable cross-currency swaps which will remain in “Accumulated other comprehensive loss” until the hedged net investment is sold or liquidated. In December 2023, simultaneously with the funding of the term loans B-2, the Company entered into interest rate swaps and cross-currency swaps to effectively convert $760 million of its term loans, U.S. dollar denominated debt obligations, into fixed-rate euro-denominated debt through December 2028 while the balance of the term loans remained subject to existing swaps scheduled to mature in 2025. The total notional value of the interest rate swaps and cross-currency swaps was $1.04 billion and $1.15 billion at December 31, 2024 and 2023, respectively. As of December 31, 2024, approximately $286 million in notional value matures in January 2025 and the remaining balance of approximately $753 million in December 2028. The net result of these hedges is an interest rate of approximately 3.0% at December 31, 2024 on the term loans B-3, 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 Consolidated Statements of Operations as the underlying hedged item affects earnings. The fair value of the interest rate swaps was a net asset of $8.9 million and $11.9 million at December 31, 2024 and 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 $54.0 million and $4.8 million at December 31, 2024 and 2023, respectively. During 2024 and 2023, these interest rate swaps and cross-currency swaps were deemed highly effective. The Company expects to reclassify a $4.0 million benefit from "Accumulated other comprehensive loss" to "Interest expense, net" in the Consolidated Statements of Operations within the next twelve months. Subsequent Event In January 2025, upon maturity of $286 million in notional value of its cross-currency swaps, the Company received cash proceeds of $25.5 million which will remain in Accumulated other comprehensive loss until the hedged net investment is sold or liquidated. Subsequently, the Company entered into new interest rate swaps and cross-currency swaps to effectively convert $135 million of the term loans B-3, a U.S. dollar denominated debt obligation, into fixed-rate euro-denominated debt through December 2029. When combined with the $753 million notional value of existing swaps, the result is an interest rate of approximately 4.0% on the hedged portion of the term loans B-3, which could vary in the future due to changes in the euro and the U.S. dollar exchange rate. 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 December 31, 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 Consolidated Statements of Operations as "Other (expense) income, net." The total notional value of foreign currency exchange forward contracts held at December 31, 2024 and 2023 was approximately $104 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 asset of $0.9 million and a net current liability of $0.7 million at December 31, 2024 and 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 $55.3 million and $63.8 million at December 31, 2024 and 2023, respectively. The fair value of the metals derivative contracts was a net current asset of $3.2 million and a net current liability of $1.2 million at December 31, 2024 and 2023, respectively. Substantially all contracts outstanding at December 31, 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 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: December 31, (dollars in millions) Balance sheet location Classification 2024 2023 Asset Category Foreign exchange contracts Other current assets Level 2 $ 1.7 $ 0.2 Metals contracts Other current assets Level 2 3.3 0.5 Interest rate swaps Other current assets Level 2 4.0 19.9 Cross-currency swaps Other current assets Level 2 39.2 5.9 Interest rate swaps Other assets Level 2 4.9 4.3 Cross-currency swaps Other assets Level 2 14.8 9.6 Available-for-sale debt securities Other assets Level 3 — 14.2 Total $ 67.9 $ 54.6 Liability Category Foreign exchange contracts Accrued expenses and other current liabilities Level 2 $ 0.8 $ 0.9 Metals contracts Accrued expenses and other current liabilities Level 2 0.1 1.7 Cross-currency swaps Accrued expenses and other current liabilities Level 2 — 0.9 Interest rate swaps Other liabilities Level 2 — 12.3 Cross-currency swaps Other liabilities Level 2 — 9.8 Total $ 0.9 $ 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 during 2024. The carrying value and estimated fair value of the Company’s long-term debt totaled $1.82 billion and $1.81 billion, respectively, at December 31, 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 8, Goodwill and Intangible Assets, Net, to the Consolidated Financial Statements for further information.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Repurchases of Common Stock During 2024 and 2023, the Company did not repurchase any shares of its common stock. During 2022, as part of its stock repurchase program, the Company repurchased approximately 8.0 million shares of its common stock for approximately $151 million. The repurchases were funded from cash on hand and allocated to treasury shares. The remaining authorization under the Company's stock repurchase program was approximately $581 million at December 31, 2024.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Changes in each component of "Accumulated other comprehensive (loss) income," net of tax, during 2024, 2023 and 2022 were as follows: (dollars in millions) Foreign Currency Translation Adjustments Pension and Post-retirement Plans Available-for-Sale Debt Securities Derivative Financial Instrument Revaluation Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2021 $ (169.4) $ (0.3) $ — $ (27.7) $ (197.4) Other comprehensive (loss) income before reclassifications, net (146.3) (5.2) 1.1 48.2 (102.2) Reclassifications, pretax — — — 1.5 1.5 Balance at December 31, 2022 (315.7) (5.5) 1.1 22.0 (298.1) Other comprehensive (loss) income before reclassifications, net (25.5) 3.4 (1.1) 2.9 (20.3) Reclassifications, pretax — — — (35.9) (35.9) Tax benefit reclassified — — — 8.4 8.4 Balance at December 31, 2023 (341.2) (2.1) — (2.6) (345.9) Other comprehensive (loss) income before reclassifications, net (122.1) 5.2 — 19.9 (97.0) Reclassifications, pretax — — — (31.2) (31.2) Tax benefit reclassified — — — 6.9 6.9 Balance at December 31, 2024 $ (463.3) $ 3.1 $ — $ (7.0) $ (467.2)

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE A computation of weighted average shares of the Company's common stock outstanding and earnings per share from continuing operations for 2024, 2023 and 2022 is as follows: Year Ended December 31, (dollars in millions, except per share amounts) 2024 2023 2022 Net income from continuing operations $ 242.9 $ 116.1 $ 186.2 Net income attributable to the non-controlling interests (0.3) (0.1) (0.8) Net income attributable to common stockholders $ 242.6 $ 116.0 $ 185.4 Basic weighted average common shares outstanding 242.1 241.4 245.1 Denominator adjustments for diluted EPS: Number of stock options and RSUs 0.5 0.4 0.7 Denominator adjustments for diluted EPS 0.5 0.4 0.7 Diluted weighted average common shares outstanding 242.6 241.8 245.8 Earnings per share from continuing operations attributable to common stockholders: Basic $ 1.00 $ 0.48 $ 0.75 Diluted $ 1.00 $ 0.48 $ 0.75 For 2024, 2023 and 2022, 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: Year Ended December 31, (amounts in millions) 2024 2023 2022 Shares issuable upon vesting of RSUs and exercise of stock options 3.4 3.4 3.6 Total shares excluded 3.4 3.4 3.6

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	LEASES The Company primarily has operating lease agreements for certain land, office space, warehouse space and equipment. The following table presents the Company’s ROU assets and lease liabilities: December 31, (dollars in millions) Balance sheet location 2024 2023 Asset Category ROU assets Other assets $ 79.7 $ 90.3 Total $ 79.7 $ 90.3 Liability Category Current lease liabilities Accrued expenses and other current liabilities $ 15.2 $ 15.0 Non-current lease liabilities Other liabilities 66.4 78.1 Total $ 81.6 $ 93.1 Operating lease expense totaled $27.9 million, $27.3 million and $26.2 million for 2024, 2023 and 2022, respectively. Year Ended December 31, (dollars in millions) 2024 2023 2022 Supplemental Information for Operating Leases Operating cash payments $ 20.3 $ 21.5 $ 19.8 ROU assets obtained in exchange for lease obligations $ 12.1 $ 20.2 $ 40.3 Weighted average remaining lease term 10 years 10 years 10 years Weighted average discount rate 4.3% 4.2% 3.5% Maturities of operating lease liabilities, including those classified as held for sale, at December 31, 2024 were as follows: (dollars in millions) 2025 $ 19.7 2026 16.9 2027 12.1 2028 9.5 2029 8.0 Thereafter 48.9 Total future minimum lease payments 115.1 Less: imputed interest (21.2) Present value of lease liabilities $ 93.9

CONTINGENCIES, ENVIRONMENTAL AN

CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS	12 Months Ended
	Dec. 31, 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 Consolidated Balance Sheets as "Accrued expenses and other current liabilities" and " Other liabilities 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe 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 $3.0 million to an annualized amount of $2.0 million. Amounts paid under this agreement are recorded in the Consolidated Statements of Operations as "Selling, technical, general and administrative" expense.

OTHER (EXPENSE) INCOME, NET

OTHER (EXPENSE) INCOME, NET	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
OTHER (EXPENSE) INCOME, NET	OTHER (EXPENSE) INCOME, NET "Other (expense) income, net," as reported in the Consolidated Statements of Operations, consisted of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 Gain (loss) on debt extinguishment $ 0.2 $ (2.3) $ — (Losses) gains on derivative contracts (13.5) 2.7 (0.2) Highly inflationary accounting (1) (2.6) (7.0) (2.9) Available-for-sale debt security impairment (11.4) — — Other income, net 2.3 3.5 6.0 Total $ (25.0) $ (3.1) $ 2.9 (1)

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES "Accrued expenses and other current liabilities," as reported in the Consolidated Balance Sheets, consisted of the following: December 31, (dollars in millions) 2024 2023 Accrued salaries, wages and employee benefits $ 79.7 $ 58.2 Accrued taxes (income and non-income) 68.0 68.6 Accrued interest 10.6 10.6 Derivative liabilities 0.9 3.5 Lease liabilities 15.2 15.0 Other current liabilities 54.9 61.4 Total $ 229.3 $ 217.3

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 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's CODM is the President and Chief Executive Officer. The CODM utilizes net sales and Adjusted EBITDA to allocate resources predominantly in the annual budget and forecasting process. The CODM evaluates the performance of the operating segments by considering budget to actual variances when making decisions about allocating capital and personnel to the segments and determining the compensation of certain employees. 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. See Note 1, Background and Basis of Presentation , to the Consolidated Financial Statements for information about the transfer of the Company's Films business from the Industrial & Specialty segment to the Electronics segment and the transfer of certain product lines within the Electronics segment in 2023 and 2022. Disaggregated Net Sales The following table summarizes disaggregated external net sales by product category: Year Ended December 31, (dollars in millions) 2024 2023 2022 Net Sales: Electronics Assembly Solutions $ 782.8 $ 726.1 $ 819.5 Circuitry Solutions 470.7 424.3 503.5 Semiconductor Solutions 307.9 264.3 288.2 Total Electronics 1,561.4 1,414.7 1,611.2 Industrial & Specialty Industrial Solutions 666.4 699.0 728.3 Graphics Solutions 146.2 142.7 143.0 Energy Solutions 82.9 76.8 66.9 Total Industrial & Specialty 895.5 918.5 938.2 Total net sales $ 2,456.9 $ 2,333.2 $ 2,549.4 Results of Operations The following table reconciles "Net income" to Adjusted EBITDA: Year Ended December 31, (dollars in millions) 2024 2023 2022 Net income $ 244.5 $ 118.2 $ 188.0 Add (subtract): Income from discontinued operations, net of tax (1.6) (2.1) (1.8) Income tax expense 44.8 13.0 85.8 Interest expense, net 56.3 49.3 51.2 Depreciation expense 40.0 42.6 41.6 Amortization expense 117.6 124.1 119.7 EBITDA 501.6 345.1 484.5 Adjustments to reconcile to Adjusted EBITDA: Restructuring expense 7.8 11.4 9.5 Inventory step-up — 3.3 0.5 Acquisition, divestiture and integration expense 21.7 16.8 10.6 Foreign exchange (gains) losses on intercompany loans (23.9) (9.7) 7.8 Debt refinancing costs 0.8 7.8 — Goodwill impairment — 80.0 — Kuprion Acquisition research and development charge 3.9 15.7 — Adjustment of stock compensation previously not probable — — 1.3 Other, net 22.8 11.9 12.4 Adjusted EBITDA $ 534.7 $ 482.3 $ 526.6 The following tables summarize financial information regarding each reportable segment's results of operations. As noted above, Adjusted EBITDA for each segment excludes certain items that may not be indicative of the Company's core operating results for its reportable segments. As such, the "Segment Total" below may not agree to the corresponding amounts on the Consolidated Statements of Operations. Year Ended December 31, 2024 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,561.4 $ 895.5 $ 2,456.9 Cost of sales 910.1 506.4 1,416.5 Selling, technical, general and administrative 251.3 223.2 474.5 Research and development 45.1 11.7 56.8 Other segment items (1) 15.3 (0.9) 14.4 Add: Depreciation expense 21.9 18.1 40.0 Adjusted EBITDA $ 361.5 $ 173.2 $ 534.7 Year Ended December 31, 2023 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,414.7 $ 918.5 $ 2,333.2 Cost of sales 854.2 545.4 1,399.6 Selling, technical, general and administrative 227.9 215.1 443.0 Research and development 37.2 14.0 51.2 Other segment items (1) 2.1 (2.4) (0.3) Add: Depreciation expense 24.4 18.2 42.6 Adjusted EBITDA $ 317.7 $ 164.6 $ 482.3 Year Ended December 31, 2022 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,611.2 $ 938.2 $ 2,549.4 Cost of sales 1,021.8 566.5 1,588.3 Selling, technical, general and administrative 224.9 209.6 434.5 Research and development 32.6 16.2 48.8 Other segment items (1) (5.3) (1.9) (7.2) Add: Depreciation expense 23.5 18.1 41.6 Adjusted EBITDA $ 360.7 $ 165.9 $ 526.6 (1) Other segment items for the Electronics segment primarily consist of $15.4 million, $1.6 million and $(1.6) million of realized losses (gains) associated with metals derivative contracts for 2024, 2023 and 2022, respectively. See Note 13, Financial Instruments, to the Consolidated Financial Statements for further discussion of these derivative instruments. Net Sales by Major Country A major country is defined as one in which total net sales represented 10% or more of the Company's total consolidated net sales in any of the years presented. Year Ended December 31, (dollars in millions) 2024 2023 2022 United States $ 566.4 $ 576.2 $ 645.3 China 479.0 418.9 498.1 Other countries 1,411.5 1,338.1 1,406.0 Total $ 2,456.9 $ 2,333.2 $ 2,549.4 Long-Lived Assets by Major Country A major country is defined as one with long-lived assets greater than 10% of the Company's total long-lived assets, net in any of the years presented. Long-lived assets represent property, plant and equipment, net. December 31, (dollars in millions) 2024 2023 United States $ 94.9 $ 94.7 China 35.7 39.4 Other countries 146.2 162.8 Total $ 276.8 $ 296.9 Assets by Reportable Segment Total assets by reportable segment at December 31, 2024 and 2023 are not presented as they are not utilized for purposes of allocating resources and evaluating performance.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts and Reserves	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts and Reserves	Valuation and Qualifying Accounts and Reserves (dollars in millions) Balance at (Charges) Income Deductions from (increases to) reserves and other (1) Balance at Reserves against accounts receivable: 2024 $ (12.6) $ (0.8) $ 3.1 $ (10.3) 2023 (14.4) (0.1) 1.9 (12.6) 2022 (12.2) (3.2) 1.0 (14.4) (dollars in millions) Balance at (Charges) Income Deductions from (increases to) reserves and other (1) Balance at Valuation allowances against deferred tax assets: 2024 $ (143.6) $ 78.3 $ (4.2) $ (69.5) 2023 (153.2) 21.8 (12.2) (143.6) 2022 (151.4) 5.1 (6.9) (153.2) (1) Other activity consists primarily of currency translation effects. For 2024 other activity included $1.0 million of reserves against accounts receivable transferred to held for sale. See Note 5, Held for Sale, to the Consolidated Financial Statements for further information.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 244.2	$ 118.1	$ 187.2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity is a part of our risk management framework, and we have established policies and processes designed to manage cybersecurity defenses, controls and programs, including ISO 27001 compliant security procedures. Our processes are evaluated by expert cybersecurity firms through various security assessments and audits, which help us identify and mitigate cyber-related risks to our businesses. We also engage with providers of information systems as part of our continuing efforts to enhance the effectiveness of our security measures. Our vendor risk management (VRM) program, through which we screen external providers, helps us identify and evaluate known risks associated with these third parties. Our information security program is led by our Chief Information Security Officer (CISO) who manages a global information security team responsible for assessing and mitigating cyber-related threats. The cybersecurity expertise of our CISO and his team includes information security management as well as governance, risk and compliance (GRC) roles, hands-on cyber incident response experience, forensic and network intrusion investigations and security risk assessments.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity is a part of our risk management framework, and we have established policies and processes designed to manage cybersecurity defenses, controls and programs, including ISO 27001 compliant security procedures. Our processes are evaluated by expert cybersecurity firms through various security assessments and audits, which help us identify and mitigate cyber-related risks to our businesses. We also engage with providers of information systems as part of our continuing efforts to enhance the effectiveness of our security measures. Our vendor risk management (VRM) program, through which we screen external providers, helps us identify and evaluate known risks associated with these third parties.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our CISO regularly reports to senior management on cybersecurity risks and incidents, including the nature of threats, the state of our defense and detection capabilities, incident response plans and employee training activities, as applicable. In addition, as part of the Board’s oversight of the Company’s risk management program, our CISO provides periodic updates to the Board on the state of our cybersecurity management program in addition to, when needed, ad hoc information about any significant cybersecurity matters and/or strategic risk management decisions.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our information security program is led by our Chief Information Security Officer (CISO) who manages a global information security team responsible for assessing and mitigating cyber-related threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our CISO regularly reports to senior management on cybersecurity risks and incidents, including the nature of threats, the state of our defense and detection capabilities, incident response plans and employee training activities, as applicable. In addition, as part of the Board’s oversight of the Company’s risk management program, our CISO provides periodic updates to the Board on the state of our cybersecurity management program in addition to, when needed, ad hoc information about any significant cybersecurity matters and/or strategic risk management decisions.
Cybersecurity Risk Role of Management [Text Block]	Our information security program is led by our Chief Information Security Officer (CISO) who manages a global information security team responsible for assessing and mitigating cyber-related threats. The cybersecurity expertise of our CISO and his team includes information security management as well as governance, risk and compliance (GRC) roles, hands-on cyber incident response experience, forensic and network intrusion investigations and security risk assessments. Our CISO regularly reports to senior management on cybersecurity risks and incidents, including the nature of threats, the state of our defense and detection capabilities, incident response plans and employee training activities, as applicable. In addition, as part of the Board’s oversight of the Company’s risk management program, our CISO provides periodic updates to the Board on the state of our cybersecurity management program in addition to, when needed, ad hoc information about any significant cybersecurity matters and/or strategic risk management decisions.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our information security program is led by our Chief Information Security Officer (CISO) who manages a global information security team responsible for assessing and mitigating cyber-related threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The cybersecurity expertise of our CISO and his team includes information security management as well as governance, risk and compliance (GRC) roles, hands-on cyber incident response experience, forensic and network intrusion investigations and security risk assessments.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our CISO regularly reports to senior management on cybersecurity risks and incidents, including the nature of threats, the state of our defense and detection capabilities, incident response plans and employee training activities, as applicable. In addition, as part of the Board’s oversight of the Company’s risk management program, our CISO provides periodic updates to the Board on the state of our cybersecurity management program in addition to, when needed, ad hoc information about any significant cybersecurity matters and/or strategic risk management decisions.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The accompanying 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 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. The Company transferred operational responsibility of its Films business from its Graphics Solutions business and its Industrial Solutions business, both within its Industrial & Specialty segment, to its Circuitry Solutions business in its Electronics segment in the first quarter of 2023 and the second quarter of 2022, respectively. The financial results of this business are not material to the Company's Consolidated Financial Statements. In addition, the Company transferred certain product lines between its Assembly Solutions business and its Semiconductor Solutions business, both within its Electronics segment, to align more closely with its current business structure in the first quarter of 2023. Historical information has been reclassified to reflect these changes for all periods presented in the Consolidated Financial Statements.
Cash and Cash Equivalents	The Company considers all highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents.
Receivables and Allowance for Doubtful Accounts	The Company determines its allowance for doubtful accounts associated with expected credit losses using a combination of factors to reduce trade receivable balances to their estimated net realizable amount. The Company maintains and adjusts its allowance for credit losses based on a variety of factors, including the length of time receivables have been past due under the applicable contractual terms, current and future macroeconomic trends and conditions, significant one-time events such as bankruptcy filings or deterioration in the customer’s operating results or financial position, historical experience and the financial condition of its customers. Credit risk with respect to accounts receivable is generally diversified due to the large number of entities comprising the Company's customer base and its dispersion across many different geographical regions.
Inventories	Inventories are stated at the lower of cost or net realizable value with cost being determined by the first-in/first-out and average cost methods. The Company regularly reviews inventories for obsolescence and excess quantities, and calculates reserves based on historical write-offs, customer demand, age of inventory, product evolution, usage rates and quantities of stock on hand. Additional obsolescence reserves may be required if actual sales are less favorable than those projected or product lifecycles differ from expectations.
Property, Plant and Equipment, Net	Property, plant and equipment, net is stated at cost less accumulated depreciation. The Company records depreciation on a straight-line basis over the estimated useful life of each asset. Estimated useful lives by asset class are as follows: Average useful life (in years) Buildings and building improvements 5 to 20 Machinery, equipment and fixtures 3 to 15 Computer hardware and software 3 to 7 Furniture and automobiles 3 to 7 Leasehold improvements Lesser of useful life or lease term Maintenance and repair costs are expensed as incurred, while renewals and improvements, which significantly extend the useful life of the asset, are capitalized and expensed over its remaining useful life. Costs and accumulated depreciation on assets retired or disposed of are removed from the accounts and any resulting gains or losses are recorded to earnings in the period of disposal.
Business Combinations	The Company allocates the purchase price of acquisitions to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. Significant assumptions inherent in the valuation of the intangible assets acquired include the amount and timing of future cash flows, including expected growth rates, profitability and customer attrition rate, and the discount rate applied to the projected cash flows, among other considerations, from the vantage point of a market participant. The excess of the acquisition price over those estimated fair values is recorded as goodwill. Changes to the acquisition date provisional fair values prior to the end of the measurement period are recorded as adjustments to goodwill.
Goodwill	Goodwill is tested for impairment at the reporting unit level annually in the fourth quarter, or when events or changes in circumstances indicate that goodwill might be impaired using either a qualitative or quantitative approach. The Company's reporting units are determined based upon its organizational structure in place at the date of the goodwill impairment test. The Company may elect to first assess qualitative factors to determine whether it is more likely than not (greater than 50%) that the fair value of a reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic, market and industry conditions, cost factors, and overall financial performance of the reporting units. If we do not perform a qualitative assessment, or if the qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative test. For the quantitative test, the Company tests for impairment by comparing the fair value of a reporting unit to its carrying value. The fair value of a reporting unit is based equally on market multiples and the present value of discounted future cash flows. The discounted cash flows are prepared based upon cash flows at the reporting unit level. The cash flow model utilized in the goodwill impairment test involves significant judgments related to future growth rates, gross profit, operating expenses and discount rates, among other considerations from the vantage point of a market participant. If the fair value of a reporting unit exceeds the carrying value of the net assets assigned to that reporting unit, goodwill is not impaired and no further testing is required. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, the goodwill impairment loss is calculated as the difference between these amounts, limited to the amount of goodwill allocated to the reporting unit. The primary components of and assumptions used in the assessment consist of the following: • Valuation Techniques - the Company uses a discounted cash flow analysis, which requires assumptions about short and long-term net cash flows, growth rates and discount rates. Additionally, it considers guideline company and guideline transaction information, where available, to aid in the valuation of the reporting units. • Growth Assumptions - Multi-year financial forecasts are developed for each reporting unit based on several key growth drivers, such as new business initiatives, client service and retention standards, market share changes, historical performance and industry and economic trends, among other considerations. • Discount Rate Assumptions - Discount rates are estimated based on the WACC, which combines the required return on equity and considers the risk-free interest rate, market risk premium, size risk premium and a company-specific risk premium, with the cost of debt, based on rated corporate bonds, adjusted using an income tax factor. • Estimated Fair Value and Sensitivitie s - The estimated fair value of each reporting unit is derived from the valuation techniques described above. This fair value is analyzed in relation to numerous market and historical factors, including current economic and market conditions, company-specific growth opportunities and guideline company information.
Indefinite-Lived Intangible Assets	Indefinite-lived intangible assets are reviewed for potential impairment on an annual basis, in the fourth quarter, or more frequently when events or circumstances indicate that such assets may be impaired, by comparing their estimated fair values to their carrying values. An impairment charge is recognized when the carrying value of an indefinite-lived intangible asset exceeds its estimated fair value. The Company uses the “relief from royalty” method to estimate the fair value of trade name intangible assets for impairment. The primary assumptions used to estimate the present value of cash flows from such assets include sales projections and growth rates being applied to a prevailing market-based royalty rate; the effects of which are then tax effected and discounted using the WACC from the vantage point of a market participant. Assumptions concerning sales projections are impacted by the uncertain nature of global and local economic conditions in the various markets it serves.
Finite-Lived Intangible Assets	Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, which currently range from 8 to 25 years for customer relationships, 3 to 10 years for developed technologies, 5 to 20 years for trade names, 15 years for reacquired distribution rights and up to 5 years for other intangible assets. If circumstances require a long-lived asset group to be tested for possible impairment, the Company first determines if the estimated undiscounted future pre-tax cash flows expected to result from the use of the asset or asset group plus net proceeds expected from disposition of the asset or asset group, if any, are less than its carrying value. When an impairment is identified, the carrying value of the asset is reduced to its estimated fair value.
Leases	The Company determines whether an arrangement is a lease at inception. Right-of-use (or ROU) assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The interest rate used to determine the present value of future lease payments is the Company's incremental borrowing rate as the implicit rate in its leases is not readily determinable. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis for borrowings with similar terms and payments. The Company's leases may include variable payments such as common area maintenance, insurance, real estate taxes, changes in price indices or other costs, which are expensed as incurred. ROU assets also include any lease payments made prior to commencement and are recorded net of any lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term.
Contingencies and Commitments	The Company records accruals for loss contingencies and commitments which are both probable and reasonably estimable. Significant judgment is required to determine both probability and the estimated amount of loss. The Company reviews accruals on a quarterly basis and adjusts, as necessary, to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other current information. Legal fees are expensed as incurred.
Environmental Matters	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. Costs related to environmental contamination treatment and cleanup are charged to expense. The accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets as “Accrued expenses and other current liabilities” and “Other liabilities” at undiscounted amounts. Receivables for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as “Other current assets" and "Other assets."
Employee Benefits	Amounts recognized in the Company's Consolidated Financial Statements related to pension and other post-retirement benefits are determined from actuarial valuations. Inherent in such valuations are assumptions, including expected return on plan assets, discount rates at which the liabilities could be settled, rates of increase in future compensation levels and mortality rates. These assumptions are updated annually and are disclosed in Note 10, Pension, Post-Retirement and Post-Employment Plans , to the Consolidated Financial Statements. Actual results that differ from the assumptions are recorded in "Accumulated other comprehensive loss" within Stockholders’ Equity and amortized over future periods and, therefore, affect expense recognized. The Company considers a number of factors in determining and selecting assumptions for the overall expected long-term rate of return on plan assets, including the historical long-term return experience of its plan assets as well as their current and expected allocation and expected long-term rates of return. Expected long-term rates of return are determined with the assistance of investment advisors. The Company bases its expected allocation of plan assets on a diversified portfolio consisting of domestic and international equity securities, fixed income securities and alternative asset classes. The measurement date used to determine pension and other post-retirement benefits is December 31.
Derivatives	The Company recognizes all contracts that meet the definition of a derivative as either assets or liabilities in the Consolidated Balance Sheets and measures those instruments at fair value. To designate a derivative for hedge accounting at inception and throughout the hedge period, the Company formally documents the nature and relationships between the hedging instrument and hedged item, as well as its risk-management objectives and strategies for undertaking various hedge transactions and the method of assessing hedge effectiveness. Additionally, for hedges of forecasted transactions, the significant characteristics and expected terms of forecasted transactions are specifically identified, and the likelihood of each forecasted transaction occurring is deemed probable. If it is determined that a forecasted transaction will not occur, a gain or loss is recognized in current earnings. Financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged, both at inception and throughout the hedged period. The Company does not engage in trading or other speculative uses of financial instruments. It is the Company's policy to disclose the fair value of derivative instruments that are subject to master netting arrangements on a gross basis in the Consolidated Balance Sheets. If hedge accounting is applied, the effective portion of unrealized gains and losses associated with the derivatives are deferred as a component of "Accumulated other comprehensive loss" until the underlying hedged transactions are reported in the Company’s Consolidated Statements of Operations. For derivative contracts not designated as hedging instruments, the Company records changes in the net fair value of such contracts in "Other (expense) income, net" in the Consolidated Statements of Operations. 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 Consolidated Statements of Cash Flows. Proceeds from the monetization of interest rate swaps are reflected as "Cash flows from operating activities" and proceeds from the monetization of cross-currency swaps are reflected as "Cash flows from investing activities" in the Consolidated Statements of Cash Flows. See Note 13, Financial Instruments
Financial Instruments	The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and debt. The Company believes that the carrying value of its cash and cash equivalents, accounts receivable and accounts payable are representative of their respective fair values because of their short maturities.
Foreign Currency Translation	The Company’s foreign subsidiaries primarily use their local currency as their functional currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using foreign currency exchange rates prevailing at the balance sheet dates. The Consolidated Statements of Operations are translated at average foreign currency exchange rates for the periods presented. Cumulative currency translation adjustments are included in the stockholders’ equity section of the Consolidated Balance Sheets as "Accumulated other comprehensive loss." Net gains and losses from transactions denominated in currencies other than the functional currency of the entity are included in the Consolidated Statements of Operations as "Foreign exchange gains (losses)."
Revenue Recognition	The Company recognizes revenue when a customer obtains control of the products it purchased, which occurs upon shipment or delivery, when title or the risks and rewards of ownership have been passed on to the customer, the Company's performance obligations have been fulfilled and collectability is probable. Estimates for sales rebates, incentives and discounts as well as sales returns and allowances are accounted for as reductions of revenue when the earnings process is complete. Sales rebates, incentives and discounts are typically earned by customers based on annual sales volume targets. The Company records an estimate for these accruals based on contract terms and its historical experience with similar programs, however, changes to these estimates may be required if the historical data used in the calculation differs from actual experience. Differences between estimated expense and actual costs are typically immaterial and are recognized in earnings in the period such differences are determined. Variable consideration for volume discounts, rebates and returns are recorded as liabilities and settled with the customer in accordance with the terms of the applicable contract, typically when program requirements are achieved by the customer.Most performance obligations relate to contracts with a duration of less than one year, in which the Company has the right to invoice the customer at the time the performance obligation is satisfied for the amount of revenue recognized at that time. The Company expenses incremental costs for obtaining contracts with terms of less than one year.
Research and Development	Research and development costs, which primarily relate to internal salaries, are expensed as incurred.
Income Taxes	The Company recognizes deferred tax assets and liabilities based on the differences between the financial statement basis and the tax basis of assets, liabilities, net operating losses and tax carryforwards. A valuation allowance is required to be recognized to reduce the recorded deferred tax asset to the amount that will more likely than not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income by jurisdiction during the periods in which those temporary differences become deductible or when carryforwards can be utilized. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in this assessment. If these estimates and related assumptions change in the future, the Company may be required to record additional valuation allowances against its deferred tax assets, resulting in additional income tax expense. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of such change. Tax benefits are recognized for an uncertain tax position when the Company considers it is more likely than not that the position will be sustained upon examination by a taxing authority or upon completion of the litigation process. For a tax position that meets the more-likely-than-not recognition threshold, the tax benefit is measured as the largest amount that is
Stock-Based Compensation Plans	Stock-based compensation is recorded in the Consolidated Statements of Operations as "Selling, technical, general and administrative" expense over the requisite service period based on the estimated grant-date fair value of the awards, effected for forfeitures as they occur. The fair value of RSU awards is determined using the closing price of Element Solutions' common stock on the date of grant. Compensation costs for awards with performance conditions are only recognized if and when it becomes probable that the performance conditions will be achieved. The probability of vesting is reassessed at the end of each reporting period and the compensation costs are adjusted accordingly with the cumulative effect of such a change on current and prior periods being recognized in compensation cost in the period of the change.
Earnings Per Share	Basic earnings per share excludes dilution and is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share assumes the issuance of all potentially dilutive share equivalents using the if-converted or treasury stock methods, provided that the effects of which are not anti-dilutive. For stock options and RSUs, it is assumed that the proceeds will be used to buy back shares. For stock options, such proceeds equal the average unrecognized compensation plus the assumed exercise of weighted average number of options outstanding. For unvested RSUs, the assumed proceeds equal the average unrecognized compensation expense.
Fair Value Measurements	The Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to determine fair values are classified based on a three-level hierarchy. The basis for fair value measurements for each level within the hierarchy is described below, with Level 1 having the highest priority and Level 3 having the lowest. The three levels of the fair value hierarchy are as follows: • Level 1 – inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 – inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in non-active markets; and model-derived valuations whose inputs are observable or whose significant valuation drivers are observable. • Level 3 – inputs to valuation models are unobservable and/or reflect the Company’s market assumptions. The fair value hierarchy is based on maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Classification within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company transfers the fair value of an asset or liability between levels of the fair value hierarchy at the end of the reporting period during which a significant change in the inputs used to determine the fair value has occurred. NAV Practical Expedient is the measure of fair value using the net asset value (or NAV) per share (or its equivalent) as an alternative to the fair value hierarchy discussed above.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements Segment Reporting (Topic 280) - In November 2023, the FASB issued ASU No. 2023-07, "Improvements to Reportable Segment Disclosures," which requires the disclosure of significant segment expenses and other segment items on an annual and interim basis. The Company adopted the new standard on December 31, 2024. The adoption of the standard did not have a material impact to the Consolidated Financial Statements. See Note 22, Segment Information, to the Consolidated Financial Statements for further information. Recently Issued Accounting Pronouncements Not Yet Adopted Income Taxes (Topic 740) - In December 2023, the FASB issued ASU No. 2023-09, "Improvements to Income Tax Disclosures," which requires enhanced disclosures in the effective tax rate reconciliation and the disclosure of income taxes paid by jurisdiction. The guidance is effective for annual periods beginning in fiscal year 2025. The Company is currently evaluating the impact of this new standard on its disclosures to the Consolidated Financial Statements. Income Statement (Topic 220) - In November 2024, the FASB issued ASU No. 2024-03, "Reporting Comprehensive Income -Expense Disaggregation Disclosures," which requires enhanced disclosures regarding certain expenses in the financial statements. The guidance is effective for annual periods beginning in fiscal year 2027 and interim periods within fiscal years beginning in fiscal year 2028. The Company is currently evaluating the impact of this new standard on its disclosures to the Consolidated Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Property, Plant and Equipment Useful Life	Estimated useful lives by asset class are as follows: Average useful life (in years) Buildings and building improvements 5 to 20 Machinery, equipment and fixtures 3 to 15 Computer hardware and software 3 to 7 Furniture and automobiles 3 to 7 Leasehold improvements Lesser of useful life or lease term The major components of property, plant and equipment, net were as follows: December 31, (dollars in millions) 2024 2023 Land and leasehold improvements $ 48.0 $ 51.7 Buildings and improvements 180.0 168.5 Machinery, equipment, fixtures and software 313.1 334.3 Construction in process 55.5 66.7 Total property, plant and equipment 596.6 621.2 Accumulated depreciation (319.8) (324.3) Property, plant and equipment, net $ 276.8 $ 296.9

HELD FOR SALE (Tables)

HELD FOR SALE (Tables)	12 Months Ended
	Dec. 31, 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) December 31, 2024 Assets held for sale: Accounts receivable, net $ 28.7 Inventories 30.6 Other current assets 5.9 Current assets held for sale $ 65.2 Property, plant and equipment, net 35.3 Goodwill 127.9 Intangible assets, net 11.0 ROU assets 11.3 Other assets 3.4 Non-current assets held for sale $ 188.9 Liabilities held for sale: Accounts payable $ 9.3 Accrued expenses and other current liabilities 9.4 Current liabilities held for sale $ 18.7 Non-current lease liabilities 11.4 Other liabilities 2.1 Non-current liabilities held for sale $ 13.5

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Major Components of Inventory	The major components of inventories, on a net basis, were as follows: December 31, (dollars in millions) 2024 2023 Finished goods $ 137.4 $ 176.2 Work in process 35.6 37.5 Raw materials and supplies 73.2 85.2 Total inventories $ 246.2 $ 298.9

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Major Components of Property, Plant, and Equipment	Estimated useful lives by asset class are as follows: Average useful life (in years) Buildings and building improvements 5 to 20 Machinery, equipment and fixtures 3 to 15 Computer hardware and software 3 to 7 Furniture and automobiles 3 to 7 Leasehold improvements Lesser of useful life or lease term The major components of property, plant and equipment, net were as follows: December 31, (dollars in millions) 2024 2023 Land and leasehold improvements $ 48.0 $ 51.7 Buildings and improvements 180.0 168.5 Machinery, equipment, fixtures and software 313.1 334.3 Construction in process 55.5 66.7 Total property, plant and equipment 596.6 621.2 Accumulated depreciation (319.8) (324.3) Property, plant and equipment, net $ 276.8 $ 296.9

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 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, 2022 $ 1,304.0 $ 1,108.8 (1) $ 2,412.8 Transfer of Films business (2) 7.9 (7.9) — Goodwill impairment — (80.0) (80.0) Foreign currency translation and other (13.2) 17.1 3.9 Balance at December 31, 2023 1,298.7 1,038.0 (3) 2,336.7 Held for sale (4) — (130.4) (130.4) Foreign currency translation and other (40.6) (33.7) (74.3) Balance at December 31, 2024 $ 1,258.1 $ 873.9 (1) $ 2,132.0 (1) Includes accumulated impairment losses of $46.6 million at December 31, 2024 and December 31, 2022, respectively. (2) In the first quarter of 2023, the Company transferred operational responsibility of its Films business from its Graphics Solutions business within its Industrial & Specialty segment to its Electronics segment. Goodwill was reallocated using a relative fair value approach and assessed for impairment both before and after the allocation. See Note 1, Background and Basis of Presentation, to the Consolidated Financial Statements for further information. (3) Includes accumulated impairment losses of $127 million. (4) As a result of the MGS Transaction, MacDermid Graphics Solutions' assets and liabilities, including goodwill, were classified as held for sale in the Consolidated Balance Sheets as of December 31, 2024. Goodwill held for sale includes accumulated impairment losses of $80.0 million. See Note 5, Held for Sale, to the 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: December 31, 2024 December 31, 2023 (dollars in millions) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 830.5 $ (447.8) $ 382.7 $ 978.4 $ (505.9) $ 472.5 Developed technology 291.4 (233.3) 58.1 410.0 (316.2) 93.8 Trade names 92.9 (37.0) 55.9 95.9 (30.9) 65.0 Reacquired distribution rights 187.0 (19.7) 167.3 187.0 (7.3) 179.7 Other — — — 0.8 (0.5) 0.3 Indefinite-lived trade name 68.0 — 68.0 68.0 — 68.0 Total $ 1,469.8 $ (737.8) $ 732.0 $ 1,740.1 $ (860.8) $ 879.3
Schedule of Estimated Future Amortization of Intangible Assets	Estimated future amortization of intangible assets for each of the next five years is as follows: (dollars in millions) Amortization Expense 2025 $ 103.0 2026 70.4 2027 68.9 2028 68.8 2029 68.5

LONG-TERM COMPENSATION PLANS (T

LONG-TERM COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Expense	For 2024, 2023 and 2022, compensation expense associated with the Company's long-term compensation plans was as follows: Year Ended December 31, (dollars in millions) 2024 2023 2022 RSUs $ 14.8 $ 9.3 $ 17.4 Stock options — 0.1 0.3 Total $ 14.8 $ 9.4 $ 17.7 Unrecognized compensation expense for awards expected to vest $ 19.4 Weighted average remaining vesting period (months) 19
Schedule of Restricted Stock Unit Award Activity in Payment Awards	At December 31, 2024, a total of 9,767,258 shares of common stock had been issued, and 4,307,288 RSUs and stock options were outstanding. Total RSUs Stock Options Outstanding at December 31, 2023 4,256,974 3,872,289 384,685 Granted 1,041,581 1,041,581 — Exercised/Issued (909,066) (892,085) (16,981) Forfeited (82,201) (82,201) — Outstanding at December 31, 2024 4,307,288 3,939,584 367,704
Schedule of Equity Classified RSUs	The Company granted the following equity classified RSUs: Year of Issuance: RSUs Weighted Average Grant Date Fair Value Weighted Average Vesting Period (months) 2024 1,041,581 $ 22.54 28 2023 1,185,157 $ 19.75 27 2022 2,847,135 $ 23.23 51
Schedule of RSUs Outstanding	At December 31, 2024, the following equity classified RSUs were outstanding: December 31, 2024 Vesting Conditions: Outstanding Weighted Average Remaining Vesting Period (months) Potential Additional Awards Service-based 616,477 10 — Performance-based 1,373,107 15 1,373,107 Performance-based awards deemed not probable 1,950,000 26 292,500 Total 3,939,584 16 1,665,607

PENSION, POST-RETIREMENT AND _2

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic (Benefit)/Cost	The components of net periodic (benefit) cost of the Domestic and Foreign Pension Plans and Domestic Post-Retirement Medical Benefits were as follows: Year Ended December 31, 2024 2023 2022 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Foreign Pension and SERP Benefits Service cost $ — $ 0.6 $ — $ 0.6 $ — $ 0.8 Interest cost on the projected benefit obligation 8.4 0.6 8.7 0.7 6.3 0.3 Expected return on plan assets (11.3) (0.2) (10.7) (0.2) (10.1) (0.2) Amortization of actuarial net gain — — — (0.1) — (0.1) Plan curtailment — — — (0.4) — — Net periodic (benefit) cost $ (2.9) $ 1.0 $ (2.0) $ 0.6 $ (3.8) $ 0.8 Post-retirement Medical Benefits Interest cost on the projected benefit obligation $ 0.3 $ 0.3 $ 0.2 Amortization of actuarial net gain (0.2) (0.4) — Net periodic cost $ 0.1 $ (0.1) $ 0.2
Schedule of Assumptions Used to Determine the Net Periodic (Benefit)/Cost	The weighted average key assumptions used to determine the net periodic (benefit) cost of the Domestic and Foreign Pension Plans and Domestic Post-Retirement Medical Benefits were as follows: Year Ended December 31, 2024 2023 2022 Domestic Foreign Domestic Foreign Domestic Foreign Pension and SERP Benefits Discount rate 5.0% 3.1% 5.2% 3.5% 2.8% 1.2% Rate of compensation increase 3.0% 3.4% 3.0% 3.2% 3.0% 2.9% Interest crediting rate 5.3% 3.3% 5.3% 3.4% 5.3% 3.1% Long-term rate of return on assets 7.0% 3.1% 7.0% 3.6% 4.8% 3.1% Post-retirement Medical Benefits Discount rate 5.0% 5.1% 2.9% Weighted average key assumptions used to determine the benefit obligations in the actuarial valuations of the pension and post-retirement benefit liabilities were as follows: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 Domestic Foreign Domestic Foreign Domestic Domestic Discount rate 5.6% 3.1% 5.0% 3.1% 5.6% 5.0% Rate of compensation increase 3.0% 3.3% 3.0% 3.4% N/A N/A Interest crediting rate 5.3% 2.9% 5.3% 3.3% N/A N/A (N/A) Not applicable.
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	The following tables summarize changes in benefit obligation, plan assets and funded status of the Company’s plans: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Domestic Change in Projected Benefit Obligation: Beginning of period balance $ 176.6 $ 19.8 $ 175.2 $ 19.4 $ 5.4 $ 5.9 Service cost — 0.6 — 0.6 — — Interest cost 8.4 0.6 8.7 0.7 0.3 0.3 Plan curtailment — — — (0.4) — — Actuarial (gain) loss due to assumption change (9.3) (0.2) 3.0 0.8 (0.2) 0.1 Actuarial (gain) loss due to plan experience (1.7) 0.1 1.3 0.2 0.1 (0.5) Benefits and expenses paid (12.3) (1.0) (11.6) (0.8) (0.4) (0.4) Settlement — (0.4) — (1.0) — — Foreign currency translation — (1.4) — 0.3 — — End of period balance $ 161.7 $ 18.1 $ 176.6 $ 19.8 $ 5.2 $ 5.4 Change in Plan Assets: Beginning of period balance $ 168.4 $ 5.0 $ 158.7 $ 4.9 $ — $ — Actual return on plan assets, net of expenses 7.1 0.4 20.8 0.1 — — Employer contributions 0.8 1.6 0.5 1.7 0.4 0.4 Benefits paid (12.3) (1.0) (11.6) (0.8) (0.4) (0.4) Settlement — (0.4) — (1.0) — — Foreign currency translation — (0.4) — 0.1 — — End of period balance $ 164.0 $ 5.2 $ 168.4 $ 5.0 $ — $ — Funded Status Funded status of plan $ 2.3 $ (12.9) $ (8.2) $ (14.8) $ (5.2) $ (5.4) Supplemental Information: Accumulated benefit obligation $ 161.7 $ 16.3 $ 176.6 $ 17.4 $ 5.2 $ 5.4 Plans with Accumulated Benefit Obligation in excess of Plan Assets: Accumulated benefit obligation $ 5.0 $ 14.5 $ 176.6 $ 15.5 $ 5.2 $ 5.4 Fair value plan assets $ — $ 2.6 $ 168.4 $ 2.5 $ — $ — Plans with Projected Benefit Obligation in excess of Plan Assets: Projected benefit obligation $ 5.0 $ 15.9 $ 176.6 $ 19.6 $ 5.2 $ 5.4 Fair value plan assets $ — $ 2.6 $ 168.4 $ 4.6 $ — $ —
Schedule of Amounts Recognized in Balance Sheet	Amounts recognized in the Consolidated Balance Sheets and "Accumulated other comprehensive loss" consist of the following: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Domestic Balance Sheet Other assets $ 7.4 $ — $ — $ — $ — $ — Accrued expenses and other current liabilities 0.7 0.8 0.9 0.8 0.5 0.5 Pension and post-retirement benefits 4.4 12.1 7.3 14.0 4.7 4.9 Accumulated Other Comprehensive Loss Net actuarial (loss) gain $ (0.6) $ 1.5 $ (7.4) $ 1.4 $ 2.0 $ 2.1
Schedule of Amounts Recognized in Other Comprehensive Loss	Amounts recognized in the Consolidated Balance Sheets and "Accumulated other comprehensive loss" consist of the following: Pension and SERP Benefits Post-Retirement Medical Benefits 2024 2023 2024 2023 (dollars in millions) Domestic Foreign Domestic Foreign Domestic Domestic Balance Sheet Other assets $ 7.4 $ — $ — $ — $ — $ — Accrued expenses and other current liabilities 0.7 0.8 0.9 0.8 0.5 0.5 Pension and post-retirement benefits 4.4 12.1 7.3 14.0 4.7 4.9 Accumulated Other Comprehensive Loss Net actuarial (loss) gain $ (0.6) $ 1.5 $ (7.4) $ 1.4 $ 2.0 $ 2.1
Schedule of Allocation of Plan Assets	The following table presents the fair value of plan assets: December 31, (dollars in millions) Classification 2024 2023 Asset Category Derivatives Level 2 $ 4.6 $ 7.7 Exchange-traded funds holding domestic securities Level 1 — 9.6 Foreign bonds Level 2 2.0 2.0 Mutual funds holding fixed income securities Level 1 43.2 35.2 U.S. Treasury bonds Level 2 38.3 30.8 Cash and cash equivalents Level 1 6.9 5.2 Sub-Total 95.0 90.5 Assets using net asset value (NAV) as a practical expedient 74.2 82.9 Total $ 169.2 $ 173.4
Schedule of Expected Future Benefit Payments	At December 31, 2024, expected future benefit payments related to the Company’s defined benefit plans were as follows: Pension and SERP Benefits Post-Retirement Medical Benefits Total (dollars in millions) Domestic Foreign 2025 $ 13.4 $ 1.3 $ 0.5 $ 15.2 2026 13.2 1.2 0.5 14.9 2027 13.3 1.1 0.4 14.8 2028 13.5 1.0 0.4 14.9 2029 13.2 1.0 0.4 14.6 Subsequent five years 62.8 9.7 1.9 74.4 Total $ 129.4 $ 15.3 $ 4.1 $ 148.8

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes	Income before income taxes and non-controlling interests was as follows: Year Ended December 31, (dollars in millions) 2024 2023 2022 Domestic $ 48.7 $ 2.6 $ 125.0 Foreign 239.0 126.5 147.0 Total $ 287.7 $ 129.1 $ 272.0
Schedule of Components of Income Tax Expense	Income tax expense consisted of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 Current: U.S.: Federal $ (1.6) $ 7.9 $ 0.6 State and local 2.5 2.7 1.8 Foreign 83.1 72.3 68.3 Total current 84.0 82.9 70.7 Deferred: U.S.: Federal 1.9 (57.2) 17.5 State and local 1.5 (0.6) 8.3 Foreign (42.6) (12.1) (10.7) Total deferred (39.2) (69.9) 15.1 Income tax expense $ 44.8 $ 13.0 $ 85.8
Schedule of Effective Income Tax Rate Reconciliation	Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate to pre-tax income, as a result of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 U.S. federal statutory tax rate 21 % 21 % 21 % Taxes computed at U.S. statutory rate $ 60.4 $ 27.1 $ 57.1 State income taxes, net of federal benefit 3.5 1.8 4.6 U.S. tax on foreign operations 4.2 1.8 3.2 Section 250 deduction (10.5) (10.8) — Foreign tax credits (13.2) (8.2) — Foreign tax on foreign operations 20.8 13.0 13.0 Change in valuation allowances (67.3) (0.1) 6.4 Tax on undistributed foreign earnings 0.8 5.1 5.9 Changes in uncertain tax positions 6.5 1.9 0.2 Non-deductible goodwill impairment and Kuprion Acquisition research and development charge 0.9 20.6 — Impact of amended U.S. tax returns 12.1 (37.3) — Outside basis difference - Graphics business (22.5) — — Gain on Graphics restructuring 43.6 — — Rate changes 6.3 — — Other, net (0.8) (1.9) (4.6) Income tax expense $ 44.8 $ 13.0 $ 85.8 Effective tax rate 16 % 10 % 32 %
Schedule of Components of Deferred Income Taxes	The components of deferred income taxes at December 31, 2024 and 2023 were as follows: December 31, (dollars in millions) 2024 2023 Deferred tax assets: Net operating losses $ 79.5 $ 87.8 Interest carryforward 74.9 81.4 Capital loss carryforward 4.2 53.5 Tax credits 47.3 64.6 Employee benefits 14.4 17.9 Research and development costs 30.5 33.2 Accrued liabilities 5.3 6.4 Outside basis difference - Graphics business 22.5 — Other 32.7 40.0 Total gross deferred tax assets 311.3 384.8 Valuation allowances (69.5) (143.6) Total deferred tax assets 241.8 241.2 Deferred tax liabilities: Intangible assets 130.6 154.5 Property, plant and equipment 26.7 33.2 Undistributed foreign earnings 32.9 32.3 Goodwill 12.2 9.6 Total deferred tax liabilities 202.4 229.6 Net deferred tax asset (liability) $ 39.4 $ 11.6
Schedule of Unrecognized Tax Benefits Roll Forward	The following table summarizes the activity related to the Company’s unrecognized tax benefits: Year Ended December 31, (dollars in millions) 2024 2023 2022 Unrecognized tax benefits at beginning of period $ 111.6 $ 99.8 $ 106.6 Additions based upon prior year tax positions 14.9 19.6 1.0 Additions based on current year tax positions 13.8 9.6 5.3 Reductions for prior period positions (3.4) (15.1) (5.7) Reductions for settlements and payments (3.3) (1.6) (1.7) Reductions due to closed statutes (8.4) (1.3) (1.9) Currency translation adjustment (2.7) 0.6 (3.8) Total unrecognized tax benefits at end of period $ 122.5 $ 111.6 $ 99.8
Schedule of Income Tax Examinations	At December 31, 2024, the following tax years remained subject to examination by the major tax jurisdictions indicated below: Major Jurisdictions Open Years China 2018 through current Germany 2018 through current Taiwan 2023 through current United Kingdom 2008, 2021 through current United States 2021 through current

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 December 31, 2023 Term Loans (1) 2030 SOFR plus 1.75% $ 1,030.0 $ 1,140.2 Senior Notes - $800 million (2) 2028 3.875% 794.0 792.3 Total debt 1,824.0 1,932.5 Less: current installments of long-term debt 10.4 11.5 Total long-term debt $ 1,813.6 $ 1,921.0 (1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at December 31, 2024 and 2023, respectively. The effective interest rate was 3.0% and 3.3% at December 31, 2024 and 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 13, Financial Instruments, to the 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 $6.0 million and $7.7 million at December 31, 2024 and 2023, respectively. The effective interest rate was 4.1% at both December 31, 2024 and 2023.
Schedule of Maturities of Long-term Debt	Minimum future principal payments on long-term debt were as follows: (dollars in millions) 2025 $ 10.4 2026 10.4 2027 10.4 2028 810.4 2029 10.4 Thereafter 986.8 Total $ 1,838.8

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 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: December 31, (dollars in millions) Balance sheet location Classification 2024 2023 Asset Category Foreign exchange contracts Other current assets Level 2 $ 1.7 $ 0.2 Metals contracts Other current assets Level 2 3.3 0.5 Interest rate swaps Other current assets Level 2 4.0 19.9 Cross-currency swaps Other current assets Level 2 39.2 5.9 Interest rate swaps Other assets Level 2 4.9 4.3 Cross-currency swaps Other assets Level 2 14.8 9.6 Available-for-sale debt securities Other assets Level 3 — 14.2 Total $ 67.9 $ 54.6 Liability Category Foreign exchange contracts Accrued expenses and other current liabilities Level 2 $ 0.8 $ 0.9 Metals contracts Accrued expenses and other current liabilities Level 2 0.1 1.7 Cross-currency swaps Accrued expenses and other current liabilities Level 2 — 0.9 Interest rate swaps Other liabilities Level 2 — 12.3 Cross-currency swaps Other liabilities Level 2 — 9.8 Total $ 0.9 $ 25.6

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in each component of "Accumulated other comprehensive (loss) income," net of tax, during 2024, 2023 and 2022 were as follows: (dollars in millions) Foreign Currency Translation Adjustments Pension and Post-retirement Plans Available-for-Sale Debt Securities Derivative Financial Instrument Revaluation Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2021 $ (169.4) $ (0.3) $ — $ (27.7) $ (197.4) Other comprehensive (loss) income before reclassifications, net (146.3) (5.2) 1.1 48.2 (102.2) Reclassifications, pretax — — — 1.5 1.5 Balance at December 31, 2022 (315.7) (5.5) 1.1 22.0 (298.1) Other comprehensive (loss) income before reclassifications, net (25.5) 3.4 (1.1) 2.9 (20.3) Reclassifications, pretax — — — (35.9) (35.9) Tax benefit reclassified — — — 8.4 8.4 Balance at December 31, 2023 (341.2) (2.1) — (2.6) (345.9) Other comprehensive (loss) income before reclassifications, net (122.1) 5.2 — 19.9 (97.0) Reclassifications, pretax — — — (31.2) (31.2) Tax benefit reclassified — — — 6.9 6.9 Balance at December 31, 2024 $ (463.3) $ 3.1 $ — $ (7.0) $ (467.2)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A computation of weighted average shares of the Company's common stock outstanding and earnings per share from continuing operations for 2024, 2023 and 2022 is as follows: Year Ended December 31, (dollars in millions, except per share amounts) 2024 2023 2022 Net income from continuing operations $ 242.9 $ 116.1 $ 186.2 Net income attributable to the non-controlling interests (0.3) (0.1) (0.8) Net income attributable to common stockholders $ 242.6 $ 116.0 $ 185.4 Basic weighted average common shares outstanding 242.1 241.4 245.1 Denominator adjustments for diluted EPS: Number of stock options and RSUs 0.5 0.4 0.7 Denominator adjustments for diluted EPS 0.5 0.4 0.7 Diluted weighted average common shares outstanding 242.6 241.8 245.8 Earnings per share from continuing operations attributable to common stockholders: Basic $ 1.00 $ 0.48 $ 0.75 Diluted $ 1.00 $ 0.48 $ 0.75
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For 2024, 2023 and 2022, 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: Year Ended December 31, (amounts in millions) 2024 2023 2022 Shares issuable upon vesting of RSUs and exercise of stock options 3.4 3.4 3.6 Total shares excluded 3.4 3.4 3.6

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of ROU Assets and Liabilities	The following table presents the Company’s ROU assets and lease liabilities: December 31, (dollars in millions) Balance sheet location 2024 2023 Asset Category ROU assets Other assets $ 79.7 $ 90.3 Total $ 79.7 $ 90.3 Liability Category Current lease liabilities Accrued expenses and other current liabilities $ 15.2 $ 15.0 Non-current lease liabilities Other liabilities 66.4 78.1 Total $ 81.6 $ 93.1
Schedule of Supplemental Cash Flow Information for Operating Leases	Year Ended December 31, (dollars in millions) 2024 2023 2022 Supplemental Information for Operating Leases Operating cash payments $ 20.3 $ 21.5 $ 19.8 ROU assets obtained in exchange for lease obligations $ 12.1 $ 20.2 $ 40.3 Weighted average remaining lease term 10 years 10 years 10 years Weighted average discount rate 4.3% 4.2% 3.5%
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities, including those classified as held for sale, at December 31, 2024 were as follows: (dollars in millions) 2025 $ 19.7 2026 16.9 2027 12.1 2028 9.5 2029 8.0 Thereafter 48.9 Total future minimum lease payments 115.1 Less: imputed interest (21.2) Present value of lease liabilities $ 93.9

OTHER (EXPENSE) INCOME, NET (Ta

OTHER (EXPENSE) INCOME, NET (Tables)	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other (Expense) Income , net	"Other (expense) income, net," as reported in the Consolidated Statements of Operations, consisted of the following: Year Ended December 31, (dollars in millions) 2024 2023 2022 Gain (loss) on debt extinguishment $ 0.2 $ (2.3) $ — (Losses) gains on derivative contracts (13.5) 2.7 (0.2) Highly inflationary accounting (1) (2.6) (7.0) (2.9) Available-for-sale debt security impairment (11.4) — — Other income, net 2.3 3.5 6.0 Total $ (25.0) $ (3.1) $ 2.9 (1)

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	"Accrued expenses and other current liabilities," as reported in the Consolidated Balance Sheets, consisted of the following: December 31, (dollars in millions) 2024 2023 Accrued salaries, wages and employee benefits $ 79.7 $ 58.2 Accrued taxes (income and non-income) 68.0 68.6 Accrued interest 10.6 10.6 Derivative liabilities 0.9 3.5 Lease liabilities 15.2 15.0 Other current liabilities 54.9 61.4 Total $ 229.3 $ 217.3

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table summarizes disaggregated external net sales by product category: Year Ended December 31, (dollars in millions) 2024 2023 2022 Net Sales: Electronics Assembly Solutions $ 782.8 $ 726.1 $ 819.5 Circuitry Solutions 470.7 424.3 503.5 Semiconductor Solutions 307.9 264.3 288.2 Total Electronics 1,561.4 1,414.7 1,611.2 Industrial & Specialty Industrial Solutions 666.4 699.0 728.3 Graphics Solutions 146.2 142.7 143.0 Energy Solutions 82.9 76.8 66.9 Total Industrial & Specialty 895.5 918.5 938.2 Total net sales $ 2,456.9 $ 2,333.2 $ 2,549.4 Results of Operations The following table reconciles "Net income" to Adjusted EBITDA: Year Ended December 31, (dollars in millions) 2024 2023 2022 Net income $ 244.5 $ 118.2 $ 188.0 Add (subtract): Income from discontinued operations, net of tax (1.6) (2.1) (1.8) Income tax expense 44.8 13.0 85.8 Interest expense, net 56.3 49.3 51.2 Depreciation expense 40.0 42.6 41.6 Amortization expense 117.6 124.1 119.7 EBITDA 501.6 345.1 484.5 Adjustments to reconcile to Adjusted EBITDA: Restructuring expense 7.8 11.4 9.5 Inventory step-up — 3.3 0.5 Acquisition, divestiture and integration expense 21.7 16.8 10.6 Foreign exchange (gains) losses on intercompany loans (23.9) (9.7) 7.8 Debt refinancing costs 0.8 7.8 — Goodwill impairment — 80.0 — Kuprion Acquisition research and development charge 3.9 15.7 — Adjustment of stock compensation previously not probable — — 1.3 Other, net 22.8 11.9 12.4 Adjusted EBITDA $ 534.7 $ 482.3 $ 526.6 The following tables summarize financial information regarding each reportable segment's results of operations. As noted above, Adjusted EBITDA for each segment excludes certain items that may not be indicative of the Company's core operating results for its reportable segments. As such, the "Segment Total" below may not agree to the corresponding amounts on the Consolidated Statements of Operations. Year Ended December 31, 2024 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,561.4 $ 895.5 $ 2,456.9 Cost of sales 910.1 506.4 1,416.5 Selling, technical, general and administrative 251.3 223.2 474.5 Research and development 45.1 11.7 56.8 Other segment items (1) 15.3 (0.9) 14.4 Add: Depreciation expense 21.9 18.1 40.0 Adjusted EBITDA $ 361.5 $ 173.2 $ 534.7 Year Ended December 31, 2023 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,414.7 $ 918.5 $ 2,333.2 Cost of sales 854.2 545.4 1,399.6 Selling, technical, general and administrative 227.9 215.1 443.0 Research and development 37.2 14.0 51.2 Other segment items (1) 2.1 (2.4) (0.3) Add: Depreciation expense 24.4 18.2 42.6 Adjusted EBITDA $ 317.7 $ 164.6 $ 482.3 Year Ended December 31, 2022 (dollars in millions) Electronics Industrial & Specialty Segment Total Net sales $ 1,611.2 $ 938.2 $ 2,549.4 Cost of sales 1,021.8 566.5 1,588.3 Selling, technical, general and administrative 224.9 209.6 434.5 Research and development 32.6 16.2 48.8 Other segment items (1) (5.3) (1.9) (7.2) Add: Depreciation expense 23.5 18.1 41.6 Adjusted EBITDA $ 360.7 $ 165.9 $ 526.6 (1) Other segment items for the Electronics segment primarily consist of $15.4 million, $1.6 million and $(1.6) million of realized losses (gains) associated with metals derivative contracts for 2024, 2023 and 2022, respectively. See Note 13, Financial Instruments, to the Consolidated Financial Statements for further discussion of these derivative instruments.
Schedule of Revenue from External Customers by Geographic Areas	A major country is defined as one in which total net sales represented 10% or more of the Company's total consolidated net sales in any of the years presented. Year Ended December 31, (dollars in millions) 2024 2023 2022 United States $ 566.4 $ 576.2 $ 645.3 China 479.0 418.9 498.1 Other countries 1,411.5 1,338.1 1,406.0 Total $ 2,456.9 $ 2,333.2 $ 2,549.4
Schedule of Revenue from External Customers and Long-lived Assets, by Geographical Areas	A major country is defined as one with long-lived assets greater than 10% of the Company's total long-lived assets, net in any of the years presented. Long-lived assets represent property, plant and equipment, net. December 31, (dollars in millions) 2024 2023 United States $ 94.9 $ 94.7 China 35.7 39.4 Other countries 146.2 162.8 Total $ 276.8 $ 296.9

BACKGROUND AND BASIS OF PRESE_2

BACKGROUND AND BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2024 segment	Jan. 31, 2014 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Par value (in dollars per share) | $ / shares		$ 0.01
Number of reportable segments | segment	2

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, Net (Details)	Dec. 31, 2024
Buildings and building improvements | Minimum
Property, Plant and Equipment
Average useful life (in years)	5 years
Buildings and building improvements | Maximum
Property, Plant and Equipment
Average useful life (in years)	20 years
Machinery, equipment and fixtures | Minimum
Property, Plant and Equipment
Average useful life (in years)	3 years
Machinery, equipment and fixtures | Maximum
Property, Plant and Equipment
Average useful life (in years)	15 years
Computer hardware and software | Minimum
Property, Plant and Equipment
Average useful life (in years)	3 years
Computer hardware and software | Maximum
Property, Plant and Equipment
Average useful life (in years)	7 years
Furniture and automobiles | Minimum
Property, Plant and Equipment
Average useful life (in years)	3 years
Furniture and automobiles | Maximum
Property, Plant and Equipment
Average useful life (in years)	7 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Finite-Lived Intangible Assets (Details)	Dec. 31, 2024
Customer Relationships | Minimum
Finite-Lived Intangible Assets
Weighted average useful life (years)	8 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets
Weighted average useful life (years)	25 years
Developed technology | Minimum
Finite-Lived Intangible Assets
Weighted average useful life (years)	3 years
Developed technology | Maximum
Finite-Lived Intangible Assets
Weighted average useful life (years)	10 years
Trade names | Minimum
Finite-Lived Intangible Assets
Weighted average useful life (years)	5 years
Trade names | Maximum
Finite-Lived Intangible Assets
Weighted average useful life (years)	20 years
Reacquired distribution rights
Finite-Lived Intangible Assets
Weighted average useful life (years)	15 years
Other | Maximum
Finite-Lived Intangible Assets
Weighted average useful life (years)	5 years

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions				3 Months Ended		12 Months Ended
	Jun. 01, 2023	May 19, 2023	Jan. 26, 2022	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition
Research and development						$ 63	$ 68.1	$ 48.8
Payments to acquire business						$ 3.9	$ 214.8	$ 22.6
HSO Acquisitions
Business Acquisition
Payments to acquire business			$ 23
Reacquired distribution rights
Business Acquisition
Weighted average useful life (years)						15 years
Customer Relationships | HSO Acquisitions
Business Acquisition
Finite-lived intangibles assets			$ 11.7
ViaForm Distribution
Business Acquisition
Consideration transferred	$ 200
Payments to acquire productive assets	170				$ 7.4
Deferred payment upon satisfaction	30
Transaction costs	0.5
Other receivables	13.5
ViaForm Distribution | Reacquired distribution rights
Business Acquisition
Finite-lived intangible assets	$ 187
Inventory relinquished as compensation					$ 6.1
ViaForm Distribution | Customer Lists
Business Acquisition
Weighted average useful life (years)	15 years
Kuprion
Business Acquisition
Payments to acquire productive assets		$ 15.9
Additional payment upon achievement of milestones		259
Research and development		$ 15.7		$ 3.9

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
Disposal group 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	Dec. 31, 2024	Dec. 31, 2023
Assets held for sale:
Current assets held for sale	$ 65.2	$ 0
Non-current assets held for sale	188.9	0
Liabilities held for sale:
Current liabilities held for sale	18.7	0
Non-current liabilities held for sale	13.5	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | MacDermid Graphics Solutions
Assets held for sale:
Accounts receivable, net	28.7
Inventories	30.6
Other current assets	5.9
Current assets held for sale	65.2
Property, plant and equipment, net	35.3
Goodwill	127.9
Intangible assets, net	11
ROU assets	11.3
Other assets	3.4
Non-current assets held for sale	188.9
Liabilities held for sale:
Accounts payable	9.3
Accrued expenses and other current liabilities	9.4
Current liabilities held for sale	18.7
Non-current lease liabilities	11.4
Other liabilities	2.1
Non-current liabilities held for sale	$ 13.5

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 137.4	$ 176.2
Work in process	35.6	37.5
Raw materials and supplies	73.2	85.2
Total inventories	$ 246.2	$ 298.9

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET - Major Components of Property, Plant, and Equipment, net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment
Total property, plant and equipment	$ 596.6	$ 621.2
Accumulated depreciation	(319.8)	(324.3)
Property, plant and equipment, net	276.8	296.9
Land and leasehold improvements
Property, Plant and Equipment
Total property, plant and equipment	48	51.7
Buildings and improvements
Property, Plant and Equipment
Total property, plant and equipment	180	168.5
Machinery, equipment, fixtures and software
Property, Plant and Equipment
Total property, plant and equipment	313.1	334.3
Construction in process
Property, Plant and Equipment
Total property, plant and equipment	$ 55.5	$ 66.7

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 40	$ 42.6	$ 41.6

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, NET - Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 2,336,700,000	$ 2,412,800,000
Transfer of Films business		0
Goodwill impairment	0	(80,000,000)	$ 0
Held for sale	(130,400,000)
Foreign currency translation and other	(74,300,000)	3,900,000
Ending balance	2,132,000,000	2,336,700,000	2,412,800,000
Accumulated impairment loss	46,600,000	127,000,000	46,600,000
Disposal Group, Held-for-Sale, Not Discontinued Operations | MacDermid Graphics Solutions
Goodwill [Roll Forward]
Accumulated impairment loss	80,000,000
Electronics
Goodwill [Roll Forward]
Beginning balance	1,298,700,000	1,304,000,000
Transfer of Films business		7,900,000
Goodwill impairment		0
Held for sale	0
Foreign currency translation and other	(40,600,000)	(13,200,000)
Ending balance	1,258,100,000	1,298,700,000	1,304,000,000
Industrial & Specialty
Goodwill [Roll Forward]
Beginning balance	1,038,000,000	1,108,800,000
Transfer of Films business		(7,900,000)
Goodwill impairment		(80,000,000)
Held for sale	(130,400,000)
Foreign currency translation and other	(33,700,000)	17,100,000
Ending balance	$ 873,900,000	$ 1,038,000,000	$ 1,108,800,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 80,000,000	$ 0
Amortization of intangible assets	118,000,000	124,000,000	120,000,000
Impairment of indefinite lived assets	$ 0	$ 0	$ 0

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS, NET - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Accumulated Amortization	$ (737.8)	$ (860.8)
Gross Carrying Amount	1,469.8	1,740.1
Intangible assets, net	732	879.3
Trade names
Finite-Lived Intangible Assets
Indefinite-lived trade name	68	68
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	830.5	978.4
Accumulated Amortization	(447.8)	(505.9)
Net Book Value	382.7	472.5
Developed technology
Finite-Lived Intangible Assets
Gross Carrying Amount	291.4	410
Accumulated Amortization	(233.3)	(316.2)
Net Book Value	58.1	93.8
Trade names
Finite-Lived Intangible Assets
Gross Carrying Amount	92.9	95.9
Accumulated Amortization	(37)	(30.9)
Net Book Value	55.9	65
Reacquired distribution rights
Finite-Lived Intangible Assets
Gross Carrying Amount	187	187
Accumulated Amortization	(19.7)	(7.3)
Net Book Value	167.3	179.7
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	0	0.8
Accumulated Amortization	0	(0.5)
Net Book Value	$ 0	$ 0.3

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS, NET - Estimated Future Amortization Expense (Details) $ in Millions	Dec. 31, 2024 USD ($)
Amortization Expense
2025	$ 103
2026	70.4
2027	68.9
2028	68.8
2029	$ 68.5

LONG-TERM COMPENSATION PLANS -

LONG-TERM COMPENSATION PLANS - Additional Information (Details) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Jun. 04, 2024 shares	Feb. 28, 2022 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2014 shares
Share-based Compensation Arrangement by Share-based Payment Award
Awards outstanding (in shares)			4,307,288	4,256,974
In the Money
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding stock options vested (in shares)			367,704
Vested options outstanding, aggregate intrinsic value | $			$ 5.1
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vested in period, fair value | $			$ 20.9	$ 21.2	$ 70.8
Awards granted (in shares)		1,950,000	1,041,581	1,185,157	2,847,135
Adjusted earnings per share (in usd per share) | $ / shares		$ 2.72
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Total shareholder return multiplier		0.85
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Total shareholder return multiplier		1.15
RSUs | Key Executives
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate intrinsic value, granted | $		$ 45.4
The 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Total number of shares of common stock that may be subject to grant awards (in shares)						15,500,000
Awards granted (in shares)			9,767,258
Awards outstanding (in shares)			4,307,288
The 2024 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of additional shares authorized (in shares)	10,000,000

LONG-TERM COMPENSATION PLANS _2

LONG-TERM COMPENSATION PLANS - Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation	$ 14.8	$ 9.4	$ 17.7
Unrecognized compensation expense for awards expected to vest	$ 19.4
Weighted average remaining vesting period (months)	19 months
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation	$ 14.8	9.3	17.4
Weighted average remaining vesting period (months)	16 months
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation	$ 0	$ 0.1	$ 0.3

LONG-TERM COMPENSATION PLANS _3

LONG-TERM COMPENSATION PLANS - Restricted Stock Unit Award Activity in Payment Awards (Details) - shares	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Total
Beginning balance (in shares)		4,256,974
Granted (in shares)		1,041,581
Exercised/Issued (in shares)		(909,066)
Forfeited (in shares)		(82,201)
Ending balance (in shares)		4,307,288	4,256,974
Stock Options
Beginning balance (in shares)		384,685
Granted (in shares)		0
Exercised/Issued (in shares)		(16,981)
Forfeited (in shares)		0
Ending balance (in shares)		367,704	384,685
RSUs
RSUs
Beginning balance (in shares)		3,872,289
Granted (in shares)	1,950,000	1,041,581	1,185,157	2,847,135
Exercised/Issued (in shares)		(892,085)
Forfeited (in shares)		(82,201)
Ending balance (in shares)		3,939,584	3,872,289

LONG-TERM COMPENSATION PLANS _4

LONG-TERM COMPENSATION PLANS - Equity Classified RSUs (Details) - RSUs - $ / shares	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Awards granted (in shares)	1,950,000	1,041,581	1,185,157	2,847,135
Weighted Average Grant Date Fair Value (in dollars per share)		$ 22.54	$ 19.75	$ 23.23
Weighted Average Vesting Period (months)		28 months	27 months	51 months

LONG-TERM COMPENSATION PLANS _5

LONG-TERM COMPENSATION PLANS - Equity Classified Share Based Payment RSUs (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Weighted Average Remaining Vesting Period (months)	19 months
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding (in shares)	3,939,584	3,872,289
Weighted Average Remaining Vesting Period (months)	16 months
Potential Additional Awards (in shares)	1,665,607
Service-based
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding (in shares)	616,477
Weighted Average Remaining Vesting Period (months)	10 months
Potential Additional Awards (in shares)	0
Performance-based
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding (in shares)	1,373,107
Weighted Average Remaining Vesting Period (months)	15 months
Potential Additional Awards (in shares)	1,373,107
Performance-based awards deemed not probable
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding (in shares)	1,950,000
Weighted Average Remaining Vesting Period (months)	26 months
Potential Additional Awards (in shares)	292,500

PENSION, POST-RETIREMENT AND _3

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Net periodic pension benefit	$ 1.8	$ 1.5	$ 2.8

PENSION, POST-RETIREMENT AND _4

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Domestic Defined Benefit Pension Plan (Details) - Pension Plan - Domestic - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans
Projected benefit obligation	$ 157	$ 171
Liability-Matching
Defined Benefit Plans and Other Postretirement Benefit Plans
Plan investment mix (percent)	95%
Long Term Growth
Defined Benefit Plans and Other Postretirement Benefit Plans
Plan investment mix (percent)	3%
Near Term Benefit Payments
Defined Benefit Plans and Other Postretirement Benefit Plans
Plan investment mix (percent)	2%
Fixed Income Holdings
Defined Benefit Plans and Other Postretirement Benefit Plans
Weighted average asset allocation (percent)	95%
Equity Securities and Derivatives
Defined Benefit Plans and Other Postretirement Benefit Plans
Weighted average asset allocation (percent)	3%
Cash
Defined Benefit Plans and Other Postretirement Benefit Plans
Weighted average asset allocation (percent)	2%

PENSION, POST-RETIREMENT AND _5

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Supplemental Executive Retirement Plans (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
SERP
Defined Benefit Plan Disclosure
Projected benefit obligation	$ 5	$ 5.8

PENSION, POST-RETIREMENT AND _6

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Foreign Pension Plans (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension and post-retirement benefits	$ 22.2	$ 28.1
Pension and SERP Benefits | Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
Projected benefit obligation	18.1	19.8	$ 19.4
Pension and post-retirement benefits	12.1	14
Other Plans | Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension and post-retirement benefits	$ 2.2	$ 3.1

PENSION, POST-RETIREMENT AND _7

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Domestic Defined Benefit Post-Retirement Medical and Dental Plan (Details) - Post-retirement Medical Benefits - Domestic	12 Months Ended
	Dec. 31, 2024 age
Defined Benefit Plan Disclosure
Post-retirement medical benefits limits (percent)	5%
Benefit obligation percent to retirees (percent)	40%
Benefit obligation percent to eligible active participants (percent)	28%
Benefit obligation percent to other active participants (percent)	32%
Minimum
Defined Benefit Plan Disclosure
Age of retiree (age)	55
Years of service	10 years
Post-retirement medical benefits limits (percent)	2%
Maximum
Defined Benefit Plan Disclosure
Years of service	20 years
Post-retirement medical benefits limits (percent)	4%

PENSION, POST-RETIREMENT AND _8

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net periodic benefit expense:
Net periodic (benefit) cost	$ 1.8	$ 1.5	$ 2.8
Pension and SERP Benefits | Domestic
Net periodic benefit expense:
Service cost	0	0	0
Interest cost on the projected benefit obligation	8.4	8.7	6.3
Expected return on plan assets	(11.3)	(10.7)	(10.1)
Amortization of actuarial net gain	0	0	0
Plan curtailment	0	0	0
Net periodic (benefit) cost	(2.9)	(2)	(3.8)
Pension and SERP Benefits | Foreign
Net periodic benefit expense:
Service cost	0.6	0.6	0.8
Interest cost on the projected benefit obligation	0.6	0.7	0.3
Expected return on plan assets	(0.2)	(0.2)	(0.2)
Amortization of actuarial net gain	0	(0.1)	(0.1)
Plan curtailment	0	(0.4)	0
Net periodic (benefit) cost	1	0.6	0.8
Post-retirement Medical Benefits | Domestic
Net periodic benefit expense:
Service cost	0	0
Interest cost on the projected benefit obligation	0.3	0.3	0.2
Amortization of actuarial net gain	(0.2)	(0.4)	0
Net periodic (benefit) cost	$ 0.1	$ (0.1)	$ 0.2

PENSION, POST-RETIREMENT AND _9

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Key Assumptions Used to Determine Net Periodic Benefit Expense (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Domestic | Pension and SERP Benefits
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	5%	5.20%	2.80%
Rate of compensation increase	3%	3%	3%
Interest crediting rate	5.30%	5.30%	5.30%
Long-term rate of return on assets	7%	7%	4.80%
Domestic | Post-retirement Medical Benefits
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	5%	5.10%	2.90%
Foreign | Pension and SERP Benefits
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	3.10%	3.50%	1.20%
Rate of compensation increase	3.40%	3.20%	2.90%
Interest crediting rate	3.30%	3.40%	3.10%
Long-term rate of return on assets	3.10%	3.60%	3.10%

PENSION, POST-RETIREMENT AND_10

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Changes in Funded Status of Pension and SERP Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in Plan Assets:
Beginning of period balance	$ 173.4
End of period balance	169.2	$ 173.4
Pension and SERP Benefits | Domestic
Change in Projected Benefit Obligation:
Beginning of period balance	176.6	175.2
Service cost	0	0	$ 0
Interest cost	8.4	8.7	6.3
Plan curtailment	0	0
Actuarial (gain) loss due to assumption change	(9.3)	3
Actuarial (gain) loss due to plan experience	(1.7)	1.3
Benefits and expenses paid	(12.3)	(11.6)
Settlement	0	0
Foreign currency translation	0	0
End of period balance	161.7	176.6	175.2
Change in Plan Assets:
Beginning of period balance	168.4	158.7
Actual return on plan assets, net of expenses	7.1	20.8
Employer contributions	0.8	0.5
Benefits paid	(12.3)	(11.6)
Settlement	0	0
Foreign currency translation	0	0
End of period balance	164	168.4	158.7
Funded Status
Funded status of plan	2.3	(8.2)
Supplemental Information:
Accumulated benefit obligation	161.7	176.6
Plans with Accumulated Benefit Obligation in excess of Plan Assets:
Accumulated benefit obligation	5	176.6
Fair value plan assets	0	168.4
Plans with Projected Benefit Obligation in excess of Plan Assets:
Projected benefit obligation	5	176.6
Fair value plan assets	0	168.4
Pension and SERP Benefits | Foreign
Change in Projected Benefit Obligation:
Beginning of period balance	19.8	19.4
Service cost	0.6	0.6	0.8
Interest cost	0.6	0.7	0.3
Plan curtailment	0	(0.4)
Actuarial (gain) loss due to assumption change	(0.2)	0.8
Actuarial (gain) loss due to plan experience	0.1	0.2
Benefits and expenses paid	(1)	(0.8)
Settlement	(0.4)	(1)
Foreign currency translation	(1.4)	0.3
End of period balance	18.1	19.8	19.4
Change in Plan Assets:
Beginning of period balance	5	4.9
Actual return on plan assets, net of expenses	0.4	0.1
Employer contributions	1.6	1.7
Benefits paid	(1)	(0.8)
Settlement	(0.4)	(1)
Foreign currency translation	(0.4)	0.1
End of period balance	5.2	5	4.9
Funded Status
Funded status of plan	(12.9)	(14.8)
Supplemental Information:
Accumulated benefit obligation	16.3	17.4
Plans with Accumulated Benefit Obligation in excess of Plan Assets:
Accumulated benefit obligation	14.5	15.5
Fair value plan assets	2.6	2.5
Plans with Projected Benefit Obligation in excess of Plan Assets:
Projected benefit obligation	15.9	19.6
Fair value plan assets	2.6	4.6
Post-retirement Medical Benefits | Domestic
Change in Projected Benefit Obligation:
Beginning of period balance	5.4	5.9
Service cost	0	0
Interest cost	0.3	0.3	0.2
Plan curtailment	0	0
Actuarial (gain) loss due to assumption change	(0.2)	0.1
Actuarial (gain) loss due to plan experience	0.1	(0.5)
Benefits and expenses paid	(0.4)	(0.4)
Settlement	0	0
Foreign currency translation	0	0
End of period balance	5.2	5.4	5.9
Change in Plan Assets:
Beginning of period balance	0	0
Actual return on plan assets, net of expenses	0	0
Employer contributions	0.4	0.4
Benefits paid	(0.4)	(0.4)
Settlement	0	0
Foreign currency translation	0	0
End of period balance	0	0	$ 0
Funded Status
Funded status of plan	(5.2)	(5.4)
Supplemental Information:
Accumulated benefit obligation	5.2	5.4
Plans with Accumulated Benefit Obligation in excess of Plan Assets:
Accumulated benefit obligation	5.2	5.4
Fair value plan assets	0	0
Plans with Projected Benefit Obligation in excess of Plan Assets:
Projected benefit obligation	5.2	5.4
Fair value plan assets	$ 0	$ 0

PENSION, POST-RETIREMENT AND_11

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Key Assumptions Used to Determine Benefit Obligations (Details)	Dec. 31, 2024	Dec. 31, 2023
Pension and SERP Benefits | Domestic
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate	5.60%	5%
Rate of compensation increase	3%	3%
Interest crediting rate	5.30%	5.30%
Pension and SERP Benefits | Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate	3.10%	3.10%
Rate of compensation increase	3.30%	3.40%
Interest crediting rate	2.90%	3.30%
Post-retirement Medical Benefits | Domestic
Defined Benefit Plans and Other Postretirement Benefit Plans
Discount rate	5.60%	5%

PENSION, POST-RETIREMENT AND_12

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Amounts Recognized in Balance Sheet and Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Balance Sheet
Pension and post-retirement benefits	$ 22.2	$ 28.1
Domestic | Pension and SERP Benefits
Balance Sheet
Other assets	7.4	0
Accrued expenses and other current liabilities	0.7	0.9
Pension and post-retirement benefits	4.4	7.3
Accumulated Other Comprehensive Loss
Net actuarial (loss) gain	(0.6)	(7.4)
Domestic | Post-retirement Medical Benefits
Balance Sheet
Other assets	0	0
Accrued expenses and other current liabilities	0.5	0.5
Pension and post-retirement benefits	4.7	4.9
Accumulated Other Comprehensive Loss
Net actuarial (loss) gain	2	2.1
Foreign | Pension and SERP Benefits
Balance Sheet
Other assets	0	0
Accrued expenses and other current liabilities	0.8	0.8
Pension and post-retirement benefits	12.1	14
Accumulated Other Comprehensive Loss
Net actuarial (loss) gain	$ 1.5	$ 1.4

PENSION, POST-RETIREMENT AND_13

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Fair Value of Plan Assets by Asset Category (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure
Total	$ 169.2	$ 173.4
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure
Total	95	90.5
Assets using net asset value (NAV) as a practical expedient
Defined Benefit Plan Disclosure
Total	74.2	82.9
Derivatives | Level 2
Defined Benefit Plan Disclosure
Total	4.6	7.7
Exchange-traded funds holding domestic securities | Level 1
Defined Benefit Plan Disclosure
Total	0	9.6
Foreign bonds | Level 2
Defined Benefit Plan Disclosure
Total	2	2
Mutual funds holding fixed income securities | Level 1
Defined Benefit Plan Disclosure
Total	43.2	35.2
U.S. Treasury bonds | Level 2
Defined Benefit Plan Disclosure
Total	38.3	30.8
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure
Total	$ 6.9	$ 5.2

PENSION, POST-RETIREMENT AND_14

PENSION, POST-RETIREMENT AND POST-EMPLOYMENT PLANS - Expected Future Benefit Payments (Details)	Dec. 31, 2024 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans
2025	$ 15,200,000
2026	14,900,000
2027	14,800,000
2028	14,900,000
2029	14,600,000
Subsequent five years	74,400,000
Total	148,800,000
Company's expected future contribution to the plan	0
Pension and SERP Benefits | Domestic
Defined Benefit Plans and Other Postretirement Benefit Plans
2025	13,400,000
2026	13,200,000
2027	13,300,000
2028	13,500,000
2029	13,200,000
Subsequent five years	62,800,000
Total	129,400,000
Pension and SERP Benefits | Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
2025	1,300,000
2026	1,200,000
2027	1,100,000
2028	1,000,000
2029	1,000,000
Subsequent five years	9,700,000
Total	15,300,000
Post-retirement Medical Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans
2025	500,000
2026	500,000
2027	400,000
2028	400,000
2029	400,000
Subsequent five years	1,900,000
Total	$ 4,100,000

INCOME TAXES - Income Before In

INCOME TAXES - Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination
Total	$ 287.7	$ 129.1	$ 272
Domestic
Income Tax Examination
Total	48.7	2.6	125
Foreign
Income Tax Examination
Total	$ 239	$ 126.5	$ 147

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.:
Federal	$ (1.6)	$ 7.9	$ 0.6
State and local	2.5	2.7	1.8
Foreign	83.1	72.3	68.3
Total current	84	82.9	70.7
U.S.:
Federal	1.9	(57.2)	17.5
State and local	1.5	(0.6)	8.3
Foreign	(42.6)	(12.1)	(10.7)
Total deferred	(39.2)	(69.9)	15.1
Income tax expense	$ 44.8	$ 13	$ 85.8

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
U.S. federal statutory tax rate	21%	21%	21%
Taxes computed at U.S. statutory rate	$ 60.4	$ 27.1	$ 57.1
State income taxes, net of federal benefit	3.5	1.8	4.6
Section 250 deduction	(10.5)	(10.8)	0
Foreign tax credits	(13.2)	(8.2)	0
Change in valuation allowances	(67.3)	(0.1)	6.4
Tax on undistributed foreign earnings	0.8	5.1	5.9
Changes in uncertain tax positions	6.5	1.9	0.2
Non-deductible goodwill impairment and Kuprion Acquisition research and development charge	0.9	20.6	0
Impact of amended U.S. tax returns	12.1	(37.3)	0
Outside basis difference - Graphics business	(22.5)	0	0
Gain on Graphics restructuring	43.6	0	0
Rate changes	6.3	0	0
Other, net	(0.8)	(1.9)	(4.6)
Income tax expense	$ 44.8	$ 13	$ 85.8
Effective tax rate	16%	10%	32%
Domestic
Income Taxes
Tax on foreign operations	$ 4.2	$ 1.8	$ 3.2
Foreign
Income Taxes
Tax on foreign operations	$ 20.8	$ 13	$ 13

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
Income tax expense		$ 44,800,000	$ 13,000,000	$ 85,800,000
Decrease in deferred ax asset valuation allowance		40,800,000
Capital gain from restructuring	$ 208,000,000
Current year capital losses used to offset capital gain	10,100,000
Prior year capital loss carryforward used to offset capital gain	198,000,000
Outside basis difference - Graphics business	$ 22,500,000	22,500,000	0
Tax on foreign operations			34,200,000
Impact of amended U.S. tax returns		(12,100,000)	37,300,000	0
Valuation allowances on foreign tax credit carryforwards			3,100,000
Foreign tax credits		13,200,000	8,200,000	0
Goodwill impairment		0	80,000,000	0
Non deductible research and development expense			15,700,000
Accrued deferred tax liability on unrecognized earnings from foreign subsidiaries		32,900,000
State operating loss carry forward		2,400,000
State tax credits		511,000,000
Foreign operating loss carry forward		216,000,000
Operating loss carryforward		16,900,000
Foreign tax credit carryovers		38,800,000
State tax credits (net of federal tax)		$ 7,700,000
Tax carry-forward period		10 years
Unrecognized tax benefits that would impact effective tax rate		$ 123,000,000
Total unrecognized benefits expected to revers within the next twelve months		8,900,000
Interest and penalties related to unrecognized tax expense (benefit)		2,600,000	3,700,000	$ 1,100,000
Interest and penalties related to unrecognized tax benefits		11,200,000	13,000,000
Capital Loss Carryforward
Income Taxes
Tax credit carryforward, amount			$ 226,000,000
Tax credit carryforward used in the year		$ 198,000,000

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating losses	$ 79.5		$ 87.8
Interest carryforward	74.9		81.4
Capital loss carryforward	4.2		53.5
Tax credits	47.3		64.6
Employee benefits	14.4		17.9
Research and development costs	30.5		33.2
Accrued liabilities	5.3		6.4
Outside basis difference - Graphics business	22.5	$ 22.5	0
Other	32.7		40
Total gross deferred tax assets	311.3		384.8
Valuation allowances	(69.5)		(143.6)
Total deferred tax assets	241.8		241.2
Deferred tax liabilities:
Intangible assets	130.6		154.5
Property, plant and equipment	26.7		33.2
Undistributed foreign earnings	32.9		32.3
Goodwill	12.2		9.6
Total deferred tax liabilities	202.4		229.6
Net deferred tax asset (liability)	$ 39.4		$ 11.6

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits at beginning of period	$ 111.6	$ 99.8	$ 106.6
Additions based upon prior year tax positions	14.9	19.6	1
Additions based on current year tax positions	13.8	9.6	5.3
Reductions for prior period positions	(3.4)	(15.1)	(5.7)
Reductions for settlements and payments	(3.3)	(1.6)	(1.7)
Reductions due to closed statutes	(8.4)	(1.3)	(1.9)
Currency translation adjustment		0.6
Currency translation adjustment	(2.7)		(3.8)
Total unrecognized tax benefits at end of period	$ 122.5	$ 111.6	$ 99.8

DEBT - Debt and Capital Lease O

DEBT - Debt and Capital Lease Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument
Total debt	$ 1,824,000,000	$ 1,932,500,000
Less: current installments of long-term debt	10,400,000	11,500,000
Total long-term debt	1,813,600,000	1,921,000,000
Term Loans, Maturing 2030 | Domestic Line of Credit
Debt Instrument
Debt face amount	$ 1,040,000,000
Spread on variable rate (percent)	1.75%
Total debt	$ 1,030,000,000	1,140,200,000
Unamortized premiums, discounts and debt issuance costs	$ 8,800,000	$ 9,800,000
Effective interest rate (percent)	3%	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	$ 794,000,000	$ 792,300,000
Unamortized premiums, discounts and debt issuance costs	$ 6,000,000	$ 7,700,000
Effective interest rate (percent)	4.10%	4.10%

DEBT - Minimum Future Payments

DEBT - Minimum Future Payments on Long-term Debt (Details) $ in Millions	Dec. 31, 2024 USD ($)
Long-term Debt, Fiscal Year Maturity
2025	$ 10.4
2026	10.4
2027	10.4
2028	810.4
2029	10.4
Thereafter	986.8
Total	$ 1,838.8

DEBT - Credit Agreement (Detail

DEBT - Credit Agreement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Repayments of borrowings	$ 1,152.6	$ 1,264.1	$ 16.4
Debt related commitment fees	1
Gain (loss) on debt extinguishment	0.2	(2.3)	$ 0
Interest rate swaps
Debt Instrument
Derivative, cash received on hedge	1.2	$ 7.8
Term Loans, Maturing 2030 | Domestic Line of Credit
Debt Instrument
Debt face amount	1,040
Repayments of borrowings	$ 1,140
Spread on variable rate (percent)	1.75%
Revolving Credit Facility
Debt Instrument
Maximum borrowing capacity	$ 1,420
Revolving Credit Facility | Line of Credit
Debt Instrument
Maximum borrowing capacity	$ 375

DEBT - Guarantees, Covenants an

DEBT - Guarantees, Covenants and Events of Default (Details) $ in Millions	12 Months Ended
	Dec. 31, 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	$ 368

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details)	Dec. 31, 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Line of Credit | Lines of Credit and Revolving Lines of Credit
Debt Instrument
Remaining borrowing capacity	$ 390	$ 392
Revolving Credit Facility
Debt Instrument
Reduction in borrowings	$ 7	$ 6.2

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivatives and Hedging (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Oct. 31, 2024
Derivative Instruments, Gain (Loss)
Derivative instruments settled, notional amount			$ 865	$ 100
Loss to be reclassified during next 12 months		$ 4	4
Derivative liability, current		$ 0.9	3.5
Term Loans, Maturing 2030 | Domestic Line of Credit
Derivative Instruments, Gain (Loss)
Hedged amount			$ 760
Effective interest rate (percent)		3%	3.30%
Spread on variable rate (percent)		1.75%
Term Loans, Maturing 2030 | Domestic Line of Credit | Subsequent Event
Derivative Instruments, Gain (Loss)
Hedged amount	$ 135
Effective interest rate (percent)	4%
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Derivative asset, current		$ 0.9
Derivative liability, current			$ 0.7
Metals contracts
Derivative Instruments, Gain (Loss)
Derivative asset, current		3.2
Derivative liability, current			1.2
Interest rate swaps
Derivative Instruments, Gain (Loss)
Derivative, cash received on hedge		1.2	7.8
Derivative asset		8.9	11.9
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Derivative, cash received on hedge		4.8	18.6
Derivative notional amount		1,040	1,150
Cross-currency swaps | Debt Expiry in January 2025
Derivative Instruments, Gain (Loss)
Derivative notional amount		286
Cross-currency swaps | Debt Expiry in January 2025 | Subsequent Event
Derivative Instruments, Gain (Loss)
Derivative, cash received on hedge	$ 25.5
Derivative notional amount	$ 286
Cross-currency swaps | Debt Expiry in December 2028
Derivative Instruments, Gain (Loss)
Derivative notional amount		753
Currency Swap
Derivative Instruments, Gain (Loss)
Derivative asset		54	4.8
Foreign Exchange Forward
Derivative Instruments, Gain (Loss)
Derivative notional amount		$ 55.3	63.8
Derivative remaining maturity		1 year
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Derivative notional amount		$ 104	$ 93.9
Derivative remaining maturity		1 year

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Interest rate swaps
Asset Category
Derivative asset	$ 8.9	$ 11.9
Recurring
Asset Category
Total	67.9	54.6
Liability Category
Total	0.9	25.6
Recurring | Level 2 | Metals contracts
Asset Category
Derivative asset	3.3	0.5
Liability Category
Derivative liability	0.1	1.7
Recurring | Level 2 | Foreign exchange contracts
Asset Category
Derivative asset	1.7	0.2
Liability Category
Derivative liability	0.8	0.9
Recurring | Level 2 | Interest rate swaps
Liability Category
Derivative liability	0	12.3
Recurring | Level 3
Asset Category
Available-for-sale debt securities	0	14.2
Recurring | Other current assets | Level 2 | Interest rate swaps
Asset Category
Derivative asset	4	19.9
Recurring | Other current assets | Level 2 | Cross-currency swaps
Asset Category
Derivative asset	39.2	5.9
Recurring | Other assets | Level 2 | Interest rate swaps
Asset Category
Derivative asset	4.9	4.3
Recurring | Other assets | Level 2 | Cross-currency swaps
Asset Category
Derivative asset	14.8	9.6
Recurring | Accrued expenses and other current liabilities | Level 2 | Cross-currency swaps
Liability Category
Derivative liability	0	0.9
Recurring | Other liabilities | Level 2 | Cross-currency swaps
Liability Category
Derivative liability	$ 0	$ 9.8

FINANCIAL INSTRUMENTS - Fair _2

FINANCIAL INSTRUMENTS - Fair Value Measurements, Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, fair value	$ 1,820	$ 1,930
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, fair value	$ 1,810	$ 1,890

FINANCIAL INSTRUMENTS - Non-Rec

FINANCIAL INSTRUMENTS - Non-Recurring Fair Value Measurement, Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Goodwill impairment	$ 0	$ 80,000,000	$ 0
Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Goodwill, measurement input (percent)				0.105

STOCKHOLDERS_ EQUITY (Details)

STOCKHOLDERS’ EQUITY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock
Treasury shares acquired (in shares)	0	0	8,000,000
Payment for shares acquired	$ 0	$ 0	$ 151
Remaining shares authorized for repurchase	$ 581
Treasury Stock
Class of Stock
Shares withheld for vesting purposes, (in shares)	300,000	400,000	1,000,000
Shares withheld for vesting purposes	$ 7.6	$ 7.7	$ 24

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 2,344.3	$ 2,349.1	$ 2,500.8
Other comprehensive (loss) income before reclassifications, net	(97)	(20.3)	(102.2)
Reclassifications, pretax	(31.2)	(35.9)	1.5
Tax benefit reclassified	6.9
Ending Balance	2,398.4	2,344.3	2,349.1
Accumulated Other Comprehensive (Loss) Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(345.9)	(298.1)	(197.4)
Tax benefit reclassified		8.4
Ending Balance	(467.2)	(345.9)	(298.1)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(341.2)	(315.7)	(169.4)
Other comprehensive (loss) income before reclassifications, net	(122.1)	(25.5)	(146.3)
Reclassifications, pretax	0	0	0
Tax benefit reclassified	0	0
Ending Balance	(463.3)	(341.2)	(315.7)
Pension and Post-retirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(2.1)	(5.5)	(0.3)
Other comprehensive (loss) income before reclassifications, net	5.2	3.4	(5.2)
Reclassifications, pretax	0	0	0
Tax benefit reclassified	0	0
Ending Balance	3.1	(2.1)	(5.5)
Available-for-Sale Debt Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	0	1.1	0
Other comprehensive (loss) income before reclassifications, net	0	(1.1)	1.1
Reclassifications, pretax	0	0	0
Tax benefit reclassified	0	0
Ending Balance	0	0	1.1
Derivative Financial Instrument Revaluation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(2.6)	22	(27.7)
Other comprehensive (loss) income before reclassifications, net	19.9	2.9	48.2
Reclassifications, pretax	(31.2)	(35.9)	1.5
Tax benefit reclassified	6.9	8.4
Ending Balance	$ (7)	$ (2.6)	$ 22

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income from continuing operations	$ 242.9	$ 116.1	$ 186.2
Net income attributable to the non-controlling interests	(0.3)	(0.1)	(0.8)
Net income attributable to common stockholders	$ 242.6	$ 116	$ 185.4
Basic weighted average common shares outstanding (in shares)	242.1	241.4	245.1
Denominator adjustments for diluted EPS:
Number of stock options and RSUs (in shares)	0.5	0.4	0.7
Denominator adjustments for diluted EPS (in shares)	0.5	0.4	0.7
Dilutive weighted average common shares outstanding (in shares)	242.6	241.8	245.8
Earnings per share from continuing operations attributable to common stockholders:
Basic (in dollars per share)	$ 1	$ 0.48	$ 0.75
Diluted (in dollars per share)	$ 1	$ 0.48	$ 0.75

EARNINGS PER SHARE - Anti-dilut

EARNINGS PER SHARE - Anti-dilutive Securities (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share
Weighted-average securities not included in computation of diluted shares outstanding (in shares)	3.4	3.4	3.6
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	3.4	3.6

LEASES - Assets and Liabilities

LEASES - Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Asset Category
Operating Lease, Right-of-Use Asset, Statement of Financial Position	Other assets	Other assets
ROU assets	$ 79.7	$ 90.3
Liability Category
Operating Lease, Liability, Current, Statement of Financial Position	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Current lease liabilities	$ 15.2	$ 15
Operating Lease, Liability, Noncurrent, Statement of Financial Position	Other liabilities	Other liabilities
Non-current lease liabilities	$ 66.4	$ 78.1
Total	$ 81.6	$ 93.1

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense	$ 27.9	$ 27.3	$ 26.2

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information for Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Information for Operating Leases
Operating cash payments	$ 20.3	$ 21.5	$ 19.8
ROU assets obtained in exchange for lease obligations	$ 12.1	$ 20.2	$ 40.3
Weighted average remaining lease term (in years)	10 years	10 years	10 years
Weighted average discount rate (percent)	4.30%	4.20%	3.50%

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Lessee, Operating Lease, Liability, Payment, Due
2025	$ 19.7
2026	16.9
2027	12.1
2028	9.5
2029	8
Thereafter	48.9
Total future minimum lease payments	115.1
Less: imputed interest	(21.2)
Present value of lease liabilities	$ 93.9

CONTINGENCIES, ENVIRONMENTAL _2

CONTINGENCIES, ENVIRONMENTAL AND LEGAL MATTERS (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Reserves for environmental matters	$ 10.7	$ 11.3
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Other liabilities

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Mariposa Capital - Advisory Services Agreement - USD ($) $ in Millions			12 Months Ended
	Apr. 11, 2024	Apr. 10, 2024	Dec. 31, 2024
Related Party Transaction
Automatic renewal term			1 year
Agreement renewal period			90 days
Amount of transaction	$ 2	$ 3

OTHER (EXPENSE) INCOME, NET (De

OTHER (EXPENSE) INCOME, NET (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Gain (loss) on debt extinguishment	$ 0.2	$ (2.3)	$ 0
(Losses) gains on derivative contracts	(13.5)	2.7	(0.2)
Highly inflationary accounting	(2.6)	(7)	(2.9)
Available-for-sale debt security impairment	(11.4)	0	0
Other income, net	2.3	3.5	6
Total	$ (25)	$ (3.1)	$ 2.9

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrued salaries, wages and employee benefits	$ 79.7	$ 58.2
Accrued taxes (income and non-income)	68	68.6
Accrued interest	10.6	10.6
Derivative liabilities	0.9	3.5
Lease liabilities	15.2	15
Other current liabilities	54.9	61.4
Total	$ 229.3	$ 217.3

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION - Financial

SEGMENT INFORMATION - Financial Information Regarding Each Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Sales:
Total net sales	$ 2,456.9	$ 2,333.2	$ 2,549.4
Electronics
Net Sales:
Total net sales	1,561.4	1,414.7	1,611.2
Electronics | Assembly Solutions
Net Sales:
Total net sales	782.8	726.1	819.5
Electronics | Circuitry Solutions
Net Sales:
Total net sales	470.7	424.3	503.5
Electronics | Semiconductor Solutions
Net Sales:
Total net sales	307.9	264.3	288.2
Industrial & Specialty
Net Sales:
Total net sales	895.5	918.5	938.2
Industrial & Specialty | Industrial Solutions
Net Sales:
Total net sales	666.4	699	728.3
Industrial & Specialty | Graphics Solutions
Net Sales:
Total net sales	146.2	142.7	143
Industrial & Specialty | Energy Solutions
Net Sales:
Total net sales	$ 82.9	$ 76.8	$ 66.9

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Net Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information
Net income	$ 244,500,000	$ 118,200,000	$ 188,000,000
Add (subtract):
Income from discontinued operations, net of tax	(1,600,000)	(2,100,000)	(1,800,000)
Income tax expense	44,800,000	13,000,000	85,800,000
Interest expense, net	56,300,000	49,300,000	51,200,000
Depreciation expense	40,000,000	42,600,000	41,600,000
Amortization expense	117,600,000	124,100,000	119,700,000
EBITDA	$ 501,600,000	$ 345,100,000	$ 484,500,000
Adjustments to reconcile to Adjusted EBITDA:
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	Restructuring expense	Restructuring expense	Restructuring expense
Foreign exchange (gains) losses	$ (24,400,000)	$ (10,600,000)	$ 3,400,000
Goodwill impairment	0	80,000,000	0
Other, net	25,000,000	3,100,000	(2,900,000)
Adjusted EBITDA	534,700,000	482,300,000	526,600,000
Operating Segments
Add (subtract):
Depreciation expense	40,000,000	42,600,000	41,600,000
Adjustments to reconcile to Adjusted EBITDA:
Restructuring expense	7,800,000	11,400,000	9,500,000
Inventory step-up	0	3,300,000	500,000
Acquisition, divestiture and integration expense	21,700,000	16,800,000	10,600,000
Foreign exchange (gains) losses	(23,900,000)	(9,700,000)	7,800,000
Debt refinancing costs	800,000	7,800,000	0
Goodwill impairment	0	80,000,000	0
Kuprion Acquisition research and development charge	3,900,000	15,700,000	0
Adjustment of stock compensation previously not probable	0	0	1,300,000
Other, net	$ 22,800,000	$ 11,900,000	$ 12,400,000

SEGMENT INFORMATION - Reportabl

SEGMENT INFORMATION - Reportable Segment's Results of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer
Net sales	$ 2,456.9	$ 2,333.2	$ 2,549.4
Cost of sales	1,421.2	1,414.7	1,596.7
Selling, technical, general and administrative	628.8	596.8	578.6
Research and development	63	68.1	48.8
Add: Depreciation expense	40	42.6	41.6
Adjusted EBITDA	534.7	482.3	526.6
Operating Segments
Revenue, Major Customer
Net sales	2,456.9	2,333.2	2,549.4
Cost of sales	1,416.5	1,399.6	1,588.3
Selling, technical, general and administrative	474.5	443	434.5
Research and development	56.8	51.2	48.8
Other segment items	14.4	(0.3)	(7.2)
Add: Depreciation expense	40	42.6	41.6
Electronics
Revenue, Major Customer
Net sales	1,561.4	1,414.7	1,611.2
Adjusted EBITDA	361.5	317.7	360.7
Realized losses (gains) associated with derivatives	15.4	1.6	(1.6)
Electronics | Operating Segments
Revenue, Major Customer
Net sales	1,561.4	1,414.7	1,611.2
Cost of sales	910.1	854.2	1,021.8
Selling, technical, general and administrative	251.3	227.9	224.9
Research and development	45.1	37.2	32.6
Other segment items	15.3	2.1	(5.3)
Add: Depreciation expense	21.9	24.4	23.5
Industrial & Specialty
Revenue, Major Customer
Net sales	895.5	918.5	938.2
Adjusted EBITDA	173.2	164.6	165.9
Industrial & Specialty | Operating Segments
Revenue, Major Customer
Net sales	895.5	918.5	938.2
Cost of sales	506.4	545.4	566.5
Selling, technical, general and administrative	223.2	215.1	209.6
Research and development	11.7	14	16.2
Other segment items	(0.9)	(2.4)	(1.9)
Add: Depreciation expense	$ 18.1	$ 18.2	$ 18.1

SEGMENT INFORMATION - Net Sales

SEGMENT INFORMATION - Net Sales by Major Country (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer
Total net sales	$ 2,456.9	$ 2,333.2	$ 2,549.4
United States
Revenue, Major Customer
Total net sales	566.4	576.2	645.3
China
Revenue, Major Customer
Total net sales	479	418.9	498.1
Other countries
Revenue, Major Customer
Total net sales	$ 1,411.5	$ 1,338.1	$ 1,406

SEGMENT INFORMATION - Long-live

SEGMENT INFORMATION - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets
Long-lived assets	$ 276.8	$ 296.9
United States
Revenues from External Customers and Long-Lived Assets
Long-lived assets	94.9	94.7
China
Revenues from External Customers and Long-Lived Assets
Long-lived assets	35.7	39.4
Other countries
Revenues from External Customers and Long-Lived Assets
Long-lived assets	$ 146.2	$ 162.8

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reserves against accounts receivable:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ (12.6)	$ (14.4)	$ (12.2)
(Charges) Income	(0.8)	(0.1)	(3.2)
Deductions from (increase to) reserves and other	3.1	1.9	1
Balance at end of period	(10.3)	(12.6)	(14.4)
Reserves against accounts receivable transferred to held for sale	1
Valuation allowances against deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	(143.6)	(153.2)	(151.4)
(Charges) Income	78.3	21.8	5.1
Deductions from (increase to) reserves and other	(4.2)	(12.2)	(6.9)
Balance at end of period	$ (69.5)	$ (143.6)	$ (153.2)