ENTEGRIS INC, 10-K filed on 2/11/2026
Annual Report
v3.25.4
COVER - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 06, 2026
Jun. 28, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-32598    
Entity Registrant Name Entegris, Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 41-1941551    
Entity Address, Address Line One 129 Concord Road    
Entity Address, City or Town Billerica    
Entity Address, State or Province MA    
Entity Address, Postal Zip Code 01821    
City Area Code 978    
Local Phone Number 436-6500    
Title of 12(b) Security Common Stock, $0.01 Par Value    
Trading Symbol ENTG    
Security Exchange Name NASDAQ    
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 false    
Entity Shell Company false    
Entity Public Float     $ 8.5
Entity Common Stock, Shares Outstanding   152.0  
Documents Incorporated by Reference
Portions of the registrant’s Definitive Proxy Statement for its 2026 Annual Meeting of Stockholders scheduled to be held on May 6, 2026 (the “2026 Proxy Statement”) which is scheduled to be filed with the Securities and Exchange Commission (the “SEC”) not later than 120 days after December 31, 2025, are incorporated by reference into Part III of this Annual Report on Form 10-K. With the exception of the portions of the 2026 Proxy Statement expressly incorporated into this Annual Report on Form 10-K by reference, such document shall not be deemed to constitute part of this Annual Report on Form 10-K.
    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001101302    
v3.25.4
AUDIT INFORMATION
 12 Months Ended
Dec. 31, 2025
Auditor Informaton [Abstract]  
Auditor Name KPMG LLP
Auditor Location Minneapolis, Minnesota
Auditor Firm ID 185
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 360.4 $ 329.2
Trade accounts and notes receivable, net 458.7 495.3
Inventories, net 643.2 638.1
Deferred tax charges and refundable income taxes 35.1 39.6
Assets held-for-sale 0.0 5.5
Other current assets 140.8 108.6
Total current assets 1,638.2 1,616.3
Property, plant and equipment, net 1,636.1 1,622.9
Other assets:    
Right-of-use assets - Operating lease 90.2 62.5
Right-of-use assets - Finance lease 18.5 20.9
Goodwill 3,946.7 3,943.6
Intangible assets, net 906.9 1,091.7
Deferred tax assets and other noncurrent tax assets 91.6 12.5
Other noncurrent assets 22.3 24.2
Total assets 8,350.5 8,394.6
Current liabilities:    
Accounts payable 171.5 193.3
Accrued payroll and related benefits 96.5 114.7
Accrued interest payable 24.3 24.3
Liabilities held-for-sale 0.0 1.2
Other accrued liabilities 113.9 111.2
Income taxes payable 82.4 80.5
Total current liabilities 488.6 525.2
Long-term debt 3,697.6 3,981.1
Pension benefit obligations and other liabilities 71.5 54.5
Deferred tax liabilities and other noncurrent tax liabilities 40.8 70.2
Long term lease liability - Operating lease 81.6 53.7
Long term lease liability - Finance lease 17.0 18.4
Equity:    
Preferred stock, par value $.01; 5.0 shares authorized; none issued and outstanding as of December 31, 2025 and December 31, 2024 0.0 0.0
Common stock, par value $.01; 400.0 shares authorized; issued and outstanding shares as of December 31, 2025: 152.1 and 151.9, respectively; issued and outstanding shares as of December 31, 2024: 151.3 and 151.1, respectively 1.5 1.5
Treasury stock, common, at cost: 0.2 shares held as of December 31, 2025 and December 31, 2024 (7.1) (7.1)
Additional paid-in capital 2,472.0 2,385.3
Retained earnings 1,558.4 1,383.9
Accumulated other comprehensive loss (71.4) (72.1)
Total equity 3,953.4 3,691.5
Total liabilities and equity $ 8,350.5 $ 8,394.6
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 5.0 5.0
Preferred stock, shares issued (in shares) 0.0 0.0
Preferred stock, shares outstanding (in shares) 0.0 0.0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 400.0 400.0
Common stock, shares issued (in shares) 152.1 151.3
Common stock, shares outstanding (in shares) 151.9 151.1
Treasury stock, shares outstanding (in shares) 0.2 0.2
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Net sales $ 3,196.6 $ 3,241.2 $ 3,523.9
Cost of sales 1,776.7 1,754.5 2,026.3
Gross profit 1,419.9 1,486.7 1,497.6
Selling, general and administrative expenses 450.6 446.6 576.2
Engineering, research and development expenses 329.0 316.1 277.3
Amortization of intangible assets 184.4 190.1 214.5
Goodwill impairment 0.0 0.0 115.2
Gain on termination of alliance agreement 0.0 0.0 (184.8)
Operating income 455.9 533.9 499.2
Interest expense 199.8 215.2 312.4
Interest income (7.9) (7.3) (11.3)
Other expense, net 9.4 4.0 25.4
Income before income tax expense (benefit) 254.6 322.0 172.7
Income tax expense (benefit) 18.0 28.3 (8.4)
Equity in net loss of affiliates 1.0 0.9 0.4
Net income $ 235.6 $ 292.8 $ 180.7
Basic net income per common share (in dollars per share) $ 1.55 $ 1.94 $ 1.21
Diluted net income per common share (in dollars per share) $ 1.55 $ 1.93 $ 1.20
Weighted average shares outstanding      
Basic (in shares) 151.7 150.9 149.9
Diluted (in shares) 152.2 151.8 150.9
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 235.6 $ 292.8 $ 180.7
Other comprehensive income (loss), net of tax      
Foreign currency translation adjustments 6.4 (15.7) (12.8)
Pension adjustments (0.2) (0.3) 0.4
Interest rate swap - cash flow hedge, net of tax (benefit) expense of $(1.6), $(3.8) and $(5.1) for December 31, 2025, December 31, 2024 and December 31, 2023, respectively. (5.5) (13.1) (17.5)
Other comprehensive income (loss), net of tax 0.7 (29.1) (29.9)
Comprehensive income $ 236.3 $ 263.7 $ 150.8
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Interest rate swap - cash flow hedge, net of tax (benefit) expense $ (1.6) $ (3.8) $ (5.1)
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common stock
Treasury stock
Additional paid-in capital
Retained earnings
Foreign currency translation adjustments
Defined benefit pension adjustments
Interest rate swap - cash flow hedge
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2022   149.3            
Treasury shares, beginning balance (in shares) at Dec. 31, 2022     (0.2)          
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2022   149.1            
Beginning balance at Dec. 31, 2022 $ 3,218.0 $ 1.5 $ (7.1) $ 2,205.3 $ 1,031.4 $ (49.1) $ (0.1) $ 36.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Shares issued under stock plans (in shares)   1.2            
Shares issued under stock plans 38.7     38.7        
Share-based compensation expense 61.4     61.4        
Dividends declared (60.3)       (60.3)      
Interest rate swap - cash flow hedge (17.5)             (17.5)
Pension adjustment 0.4           0.4  
Foreign currency translation (12.8)         (12.8)    
Net income 180.7       180.7      
Common stock, shares issued, ending balance (in shares) at Dec. 31, 2023   150.5            
Treasury shares, ending balance (in shares) at Dec. 31, 2023     (0.2)          
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2023   150.3            
Ending balance at Dec. 31, 2023 3,408.6 $ 1.5 $ (7.1) 2,305.4 1,151.8 (61.9) 0.3 18.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Shares issued under stock plans (in shares)   0.8            
Shares issued under stock plans 14.0     14.0        
Share-based compensation expense 65.9     65.9        
Dividends declared (60.7)       (60.7)      
Interest rate swap - cash flow hedge (13.1)             (13.1)
Pension adjustment (0.3)           (0.3)  
Foreign currency translation (15.7)         (15.7)    
Net income $ 292.8       292.8      
Common stock, shares issued, ending balance (in shares) at Dec. 31, 2024 151.3 151.3            
Treasury shares, ending balance (in shares) at Dec. 31, 2024 (0.2)   (0.2)          
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2024 151.1 151.1            
Ending balance at Dec. 31, 2024 $ 3,691.5 $ 1.5 $ (7.1) 2,385.3 1,383.9 (77.6) 0.0 5.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Shares issued under stock plans (in shares)   0.8            
Shares issued under stock plans 17.4     17.4        
Share-based compensation expense 69.3     69.3        
Dividends declared (61.1)       (61.1)      
Interest rate swap - cash flow hedge (5.5)             (5.5)
Pension adjustment (0.2)           (0.2)  
Foreign currency translation 6.4         6.4    
Net income $ 235.6       235.6      
Common stock, shares issued, ending balance (in shares) at Dec. 31, 2025 152.1 152.1            
Treasury shares, ending balance (in shares) at Dec. 31, 2025 (0.2)   (0.2)          
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2025 151.9 151.9            
Ending balance at Dec. 31, 2025 $ 3,953.4 $ 1.5 $ (7.1) $ 2,472.0 $ 1,558.4 $ (71.2) $ (0.2) $ 0.0
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends declared per share (in dollars per share) $ 0.40 $ 0.40 $ 0.40
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 235.6 $ 292.8 $ 180.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 205.3 188.1 172.7
Amortization 184.4 190.1 214.5
Share-based compensation expense 69.3 65.9 61.4
Provision for deferred income taxes (87.4) (78.9) (145.6)
Impairment of goodwill 0.0 0.0 115.2
Loss on extinguishment of debt 3.2 13.4 27.9
Loss (gain) from sale of businesses and held-for-sale assets, net 10.9 (4.3) 23.8
Impairment on long-lived assets 11.7 13.0 30.5
Gain on termination of alliance agreement 0.0 0.0 (184.8)
Charge for excess and obsolete inventory 38.6 39.9 38.2
Amortization of debt issuance costs and original issuance discounts 13.9 15.0 21.2
Other 17.2 5.6 23.3
Changes in operating assets and liabilities, net of effects of acquisitions:      
Trade accounts receivable and notes receivable 40.3 (49.0) 0.6
Inventories (43.1) (76.7) 102.8
Accounts payable and other accrued liabilities 12.0 8.9 (14.6)
Other current assets (10.3) (5.4) (11.9)
Income taxes payable and refundable income taxes (7.6) 7.9 (10.2)
Other 1.4 5.4 (1.2)
Net cash provided by operating activities 695.4 631.7 644.5
Investing activities:      
Acquisition of property and equipment (299.2) (315.6) (456.8)
Proceeds from government incentives 8.2 0.0 0.0
(Payment) proceeds from sale of businesses, net (6.7)    
(Payment) proceeds from sale of businesses, net   250.8 815.0
Proceeds from termination of alliance agreement 0.0 0.0 191.2
Other (3.1) (2.3) 3.7
Net cash (used in) provided by investing activities (300.8) (67.1) 553.1
Financing activities:      
Proceeds from revolving credit facility and short-term debt 567.0 140.0 0.0
Payments of revolving credit facility and short-term debt (567.0) (140.0) (135.0)
Proceeds from long-term debt 0.0 224.5 217.4
Payments of long-term debt (300.0) (848.3) (1,338.7)
Payments for debt issuance costs 0.0 0.0 (3.5)
Payments for dividends (60.8) (60.6) (60.2)
Issuance of common stock from employee stock plans 6.7 14.0 35.9
Taxes paid related to net share settlement of equity awards (10.8) (16.9) (12.1)
Other (2.0) (1.6) (1.4)
Net cash used in financing activities (366.9) (688.9) (1,297.6)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3.5 (3.4) (6.5)
Increase (decrease) in cash, cash equivalents and restricted cash 31.2 (127.7) (106.5)
Cash, cash equivalents and restricted cash at beginning of year 329.2 456.9 563.4
Cash, cash equivalents and restricted cash at end of year 360.4 329.2 456.9
Non-cash transactions:      
Share issuance in exchange for extinguishment of Employee Stock Purchase Plan liability 21.5 16.9 14.9
Deferred acquisition and divestiture payments, net 0.0 0.0 5.5
Equipment purchases in accounts payable 24.1 57.6 20.6
Dividends payable 1.0 0.8 0.7
Schedule of interest and income taxes paid:      
Interest paid, net of capitalized interest 185.4 199.2 287.8
Income taxes paid, net of refunds received $ 113.0 $ 103.8 $ 138.9
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations Entegris, Inc. (“Entegris”, the “Company”, “we”, or “our”) is a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.
Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation.
Use of Estimates and Basis of Presentation The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, Entegris evaluates its estimates, including those related to receivables, inventories, property, plant and equipment, goodwill, intangible assets, accrued liabilities, income taxes and share-based compensation, among others. Actual results could differ from those estimates. Reclassifications of certain prior year amounts have been made to conform to the current year presentation.
Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly-liquid debt securities with original maturities of three months or less, which are valued at cost and approximate fair value.
Allowance for Credit Losses An allowance for uncollectible trade receivables is estimated based on a combination of write-off history, aging analysis and any specific, known troubled accounts. The Company maintains an allowance for credit losses that management believes is adequate to cover expected losses on trade receivables.
Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out (FIFO) method. The Company records a charge to cost of sales for excess and obsolete inventory to reduce the carrying value of inventories to net realizable value.
Leases The Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets include operating and financing leases. Short-term operating lease liabilities are classified in “Other accrued liabilities” and long-term operating lease liabilities are classified in “Long-term lease liability - Operating lease” in the consolidated balance sheet. Short-term finance leases are classified in “Other accrued liabilities” and long-term finance lease liabilities are classified in “Long-term lease liability - Finance lease” in our consolidated balance sheet.
Lease assets and liabilities greater than 12 months are recognized at commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The ROU assets include prepaid lease payments and exclude lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an original term of 12 months or less are not recorded in the accompanying consolidated balance sheet.
Lease and non-lease components are generally accounted for separately for real estate leases. For non-real estate leases, we account for the lease and non-lease components as a single lease component.
Property, Plant and Equipment Property, plant and equipment are carried at cost and are depreciated using the straight-line method over their estimated useful lives. When assets are retired or disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is recognized in the period incurred. Maintenance and repairs are expensed as incurred, while significant additions and improvements are capitalized. Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable based on estimated future undiscounted cash flows. The amount of impairment, if any, is measured as the difference between the net book value and the estimated fair value of the asset(s).
In January 2026, we completed an assessment of the useful lives of our property, plant and equipment and adjusted the estimated useful lives of certain property, plant and equipment to more closely reflect the expected economic lives of these assets. These adjustments followed an analysis of our actual usage of assets, including the technological and physical obsolescence of these assets, our ability to continue to use equipment, historical usage trends, and anticipated capital plans and technology roadmaps, as well as industry trends and practices. Based on this analysis, we determined that the increase in useful lives was warranted and consistent with the Company’s historical and anticipated use of these assets. The updated estimated useful lives of certain assets for financial reporting purposes are as follows: buildings and improvements, 5 to 35 years increased to 5 to 40 years; manufacturing equipment, 5 to 10 years increased 5 to 14 years; canister and cylinder, 3 to 12 years increased to 3 to 19 years; molds, 3 to 5 years increased to 3 to 9 years and lab equipment, 3 to 8 years increased to 3 to 9 years.
Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable, accounts payable, accrued payroll and related benefits, and other accrued liabilities approximates fair value due to the short maturity of those instruments. Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three-level hierarchy for disclosure is based on the extent and level of judgment used to estimate fair value. Level 1 inputs consist of valuations based on quoted market prices in active markets for identical assets or liabilities. Level 2 inputs consist of valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in an inactive market, or other observable inputs. Level 3 inputs consist of valuations based on unobservable inputs that are supported by little or no market activity.
Goodwill and Intangible Assets Goodwill represents the excess of acquisition costs over the fair value of the net assets of businesses acquired. Goodwill is not subject to amortization, but is tested for impairment annually at August 31, the Company’s annual testing date, and whenever events or changes in circumstances indicate that impairment may have occurred.
In performing the Company’s annual goodwill impairment test, the Company is permitted to first assess qualitative factors to determine whether it is more likely than not that the carrying amount of the Company’s reporting unit exceeds its fair value including goodwill. In performing the qualitative assessment, the Company considers certain events and circumstances specific to the reporting unit and to the entity as a whole, such as macroeconomic conditions, industry and market considerations, overall financial performance and cost factors when evaluating whether it is more likely than not that the carrying value of the reporting unit exceeds its fair value. The Company is also permitted to bypass the qualitative assessment and proceed directly to the quantitative assessment. If the Company chooses to undertake the qualitative assessment and concludes that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, the Company would then proceed to the quantitative impairment assessment. In the quantitative assessment, the Company compares the fair value of the reporting unit to its carrying amount, which includes goodwill. If the fair value exceeds the carrying value, no impairment loss exists. If the fair value is less than the carrying amount, a goodwill impairment loss is measured and recorded.
The quantitative impairment test requires us to estimate the fair value of a reporting unit, which is based on a combination of the income and market approaches. The income approach is a valuation technique under which we estimate future cash flows using the reporting unit’s financial forecast from the perspective of an unrelated market participant. Using historical trending and internal forecasting techniques, we project revenue and apply our fixed and variable cost expense rate to the projected revenue to arrive at the future cash flows. A terminal value is then applied to the projected cash flow stream. Future estimated cash flows are discounted to their present value to calculate the estimated fair value. The discount rate used is the value-weighted average of our estimated cost of capital derived using both known and estimated customary market metrics. In determining the estimated fair value of a reporting unit, we are required to estimate a number of factors, including appropriate market comparable, projected future revenue growth and gross margins, the discount rate reflecting the risk inherent in future cash flows, the terminal growth rate, and projected future economic and market conditions. The market approach is a valuation technique under which we estimate the fair value of a reporting unit using publicly available market multiples for comparable companies.
Amortizable intangible assets include, among other items, patented, unpatented and other developed technology and customer-based intangibles, and are amortized using the straight-line method over their respective estimated useful lives. The Company reviews intangible assets and other long-lived assets for impairment if changes in circumstances or the occurrence of events suggest the remaining value may not be recoverable.
Derivative Financial Instruments The Company is exposed to various market risks, including risks associated with interest rates and foreign currency exchange rates. We enter into certain derivative transactions to mitigate the volatility associated with these exposures. We have policies in place that define acceptable instrument types we may enter into and we have established controls to limit our market risk exposure. We do not use derivative financial instruments for trading or speculative purposes. In addition, all derivatives, whether designated in hedging relationships or not, are recorded on the consolidated balance sheets at fair value on a gross basis.
Interest Rate Swap
The fair value of the interest rate swap is estimated using standard valuation models using market-based observable inputs over the contractual term, including one-month Secured Overnight Financing Rate (“SOFR”) based yield curves, among others. We consider the risk of nonperformance, including counterparty credit risk, in the calculation of the fair value. We have designated this swap agreement as a cash flow hedge. As a cash flow hedge, unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. Unrealized gains and losses are designated as effective or ineffective based on a comparison of the changes in fair value of the interest rate swap and changes in fair value of the underlying exposures being hedged. The effective portion is recorded as a component of accumulated other comprehensive loss, while the ineffective portion is recorded as a component of Interest expense. Changes in the method by which we pay interest from one-month SOFR to another rate of interest could create ineffectiveness in the swap, and result in amounts being reclassified from other comprehensive income
(loss) into net income. Hedge effectiveness is tested quarterly to determine if hedge treatment is appropriate. Realized gains and losses are recorded on the same financial statement line as the hedged item, which is Interest expense.
Foreign Currency Contracts Not Designated as Hedges
On a periodic basis, we enter into forward foreign exchange contracts in an effort to mitigate the risks associated with currency fluctuations on certain foreign currency balance sheet exposures. These foreign exchange contracts do not qualify for hedge accounting; therefore, the gains and losses resulting from the impact of currency exchange rate movements on our forward foreign exchange contracts are recognized as Other expense (income), net in the accompanying consolidated statements of operations in the period in which the exchange rates change.
Foreign Currency Translation Assets and liabilities of certain foreign subsidiaries are translated from foreign currencies into U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss in the consolidated balance sheets. Income statement amounts are translated at the average exchange rates for the year. Translation adjustments are not adjusted for income taxes, as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in Other expense (income), net, in the Company’s consolidated statements of operations.
Revenue Recognition Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer.
Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.
Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.
The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less.
When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from advance payments received on sales of the Company’s products. The Company makes the required disclosures with respect to deferred revenue in Note 2 to the consolidated financial statements.
The Company does not disclose information about remaining performance obligations that have original expected durations of one year or less.
The following is a description of principal activities from which the Company generates its revenues. The Company has two reportable segments. For more detailed information about reportable segments, see Note 20 to the consolidated financial statements. For each of the two reportable segments, the recognition of revenue regarding the nature of goods and services provided by the segments are similar and described below. The Company recognizes revenue for product sales at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment or delivery, depending on the terms of the underlying contracts. For product sales contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation identified in the contract based on relative standalone selling prices, or estimates of such prices, and recognizes the related revenue as control of each individual product is transferred to the customer in satisfaction of the corresponding performance obligations. All material revenue is being recognized at a point in time.
The Company generally recognizes revenue for sales of services when the Company has satisfied the performance obligation. The payment terms and revenue recognized are based on time and materials.
The Company also enters into arrangements to license its intellectual property. These arrangements typically permit the customer to use a specialized manufacturing process and in return the Company receives a royalty fee. The Company recognizes revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property when the subsequent sale or usage occurs.
The Company offers certain customers cash discounts and volume rebates as sales incentives. The discounts and volume rebates are recorded as a reduction in sales at the time revenue is recognized in an amount estimated based on historical experience and contractual obligations. The Company periodically reviews the assumptions underlying its estimates of discounts and volume rebates and adjusts its revenues accordingly.
In addition, the Company offers free product rebates to certain customers. The Company utilizes an adjusted market approach to estimate the stand-alone selling price of the loyalty program and allocates a portion of the consideration received to the free product offering. The free product offering is redeemable upon future purchases of the Company’s products. The amount associated with free product rebates is recorded as deferred revenue on the balance sheet and is recognized as revenue when the free product is redeemed or when the likelihood of redemption is remote. The Company has deemed that the amount is immaterial for disclosure.
The Company provides for the estimated costs of fulfilling its obligations under product warranties at the time the related revenue is recognized. The Company estimates the costs based on historical failure rates, projected repair costs, and knowledge of specific product failures (if any). The specific warranty terms and conditions vary depending upon the product sold and the country in which we do business, but generally include parts and labor over a period generally ranging from 90 days to one year. The Company regularly reevaluates its estimates to assess the adequacy of the recorded warranty liabilities and adjusts the amounts as necessary.
The Company’s contracts are generally short-term in nature. Most contracts do not exceed twelve months. Payment terms vary by the type and location of the Company’s customers and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. Those customers that prepay are represented by the contract liabilities until the performance obligations are satisfied.
Engineering, Research and Development Expenses Engineering, research and development expenses are expensed as incurred.
Share-Based Compensation The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. Share-based compensation expense is recognized using the straight-line attribution method to recognize share-based compensation over the service period of the award, with adjustments recorded for forfeitures as they occur. Awards issued to employees who are retirement eligible or nearing retirement eligibility are expensed on an accelerated basis.
Government Grants The Company entered into certain incentive arrangements with the state of Colorado and U.S. Department of Commerce. We account for funds we receive from government grants by either reducing the costs of the assets (if the grant relates to capital expenditures) or expenses which could be Cost of goods sold, Selling, general and administrative, and Research and development expenses in the consolidated statements of income. We recognize the incentives when there is reasonable assurance that we will comply with all conditions specified in the incentive arrangement and the incentive will be received.
Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date.
The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. A valuation allowance is recorded to reduce deferred tax assets when it is more likely than not that the Company would not be able to realize all or part of its deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.
The Company’s policy for recording interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income before taxes. Penalties and interest to be paid or received are recorded in other expense (income), net, in the statement of operations.
Comprehensive Income Comprehensive income represents the change in equity resulting from items other than shareholder investments and distributions. The Company’s foreign currency translation adjustments, unrealized gains and losses on available-for-sale investments, interest rate swap - cash flow hedge and minimum pension adjustments are included in accumulated other comprehensive loss. Comprehensive income and the components of accumulated other comprehensive loss are presented in the accompanying consolidated statements of comprehensive income and consolidated statements of equity.
Recent Accounting Pronouncements Adopted
During the year ended December 31, 2025, the Company adopted Accounting Standards Update (ASU) 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The Company applied the guidance prospectively by providing the revised disclosures for the year ended December 31, 2025 and by providing the pre-ASU disclosures for the prior periods. These changes did not impact the Company’s consolidated financial results but provide additional information for users of the financial statements. See Note 16 to the consolidated financial statements for further details.
Recent Accounting Pronouncements Yet to be Adopted
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements. The amendments in this ASU are effective for our annual reporting periods beginning in fiscal year 2027 and interim reporting periods beginning in the first quarter of fiscal year 2028, with early adoption permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures.
The Company currently has no other material recent accounting pronouncements yet to be adopted.
v3.25.4
REVENUES
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES
2. REVENUES
The following table provides information about disaggregated net sales by customer category for the years ended December 31, 2025, 2024 and 2023:
(In millions)202520242023
Semiconductor:
Fabs$1,973.0 $1,965.6 $1,920.0 
Equipment and Engineering469.4 493.5 566.8 
Chemical and Materials320.1 327.5 355.2 
Semi Distributor/Other272.5 262.6 326.9 
Non-Semi161.6 192.0 355.0 
Total net sales$3,196.6 $3,241.2 $3,523.9 
The following table provides information about current contract liabilities from contracts with customers. The contract liabilities are included in other accrued liabilities balance in the consolidated balance sheet.
(In millions)20252024
Balance at beginning of year$41.7 $69.1 
Revenue recognized that was included in the contract liability balance at the beginning of the period(36.6)(65.1)
Increases due to cash received, excluding amounts recognized as revenue during the period44.8 37.7 
Balance at end of year$49.9 $41.7 
v3.25.4
GOODWILL AND LONG-LIVED ASSET IMPAIRMENT
 12 Months Ended
Dec. 31, 2025
Asset Impairment Charges [Abstract]  
GOODWILL AND LONG-LIVED ASSET IMPAIRMENT
3. GOODWILL AND LONG-LIVED ASSET IMPAIRMENT
During 2023, the Company was exploring market interest in sales of two of our businesses, Electronic Chemicals (“EC”) and a small, industrial specialty chemicals business, both within our Materials Solutions (“MS”) segment. As a result, the Company had triggering events and evaluated goodwill and long-lived assets for impairment.

Goodwill
In 2023, the Company compared the reporting units’ fair value to the carrying amounts, including goodwill. As the reporting units’ carrying amount, including goodwill exceeded fair value, the Company recorded goodwill impairment charges of $115.2 million in 2023. The impairment is classified as goodwill impairment in the Company’s consolidated statement of operations. The goodwill impairment is not deductible for tax purposes. The fair value of the reporting unit was determined using a market and income-based approach. We consider this a Level 3 measurement in the fair value hierarchy. There was no goodwill impairment charge recorded during 2024 or 2025.
Long-lived assets, including finite-lived intangible assets
The Company compared the estimated undiscounted future cash flows generated by the asset groups to the carrying amount of the asset groups for the reporting units and determined that the undiscounted cash flows were expected to exceed the carrying value on a held and used basis for the EC business but did not for the small, industrial specialty chemical business. As a result, the Company recorded an impairment of $30.5 million in 2023 and $13.0 million in 2024 related to the industrial specialty chemical business. The impairment is classified as selling, general and administrative expenses in the Company’s consolidated statements of operations. The fair value of the reporting unit was determined using a market-based approach. We consider this a Level 3 measurement in the fair value hierarchy. The small, industrial specialty chemical business was sold during the fourth fiscal quarter of 2025; see Note 4 for further discussion.

During 2025, the Company recorded an impairment charges of $11.7 million related to long-lived assets as a result of restructuring initiatives that took place during the year. See Note 15 for further discussion.
v3.25.4
DIVESTITURES
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DIVESTITURES
4. DIVESTITURE

Divestiture - Other

During the fourth quarter of 2025, the Company completed the sale of its small, industrial specialty chemicals business that reports within the MS segment and was presented as Held for Sale as of December 31, 2024 and 2023. We incurred $6.7 million of costs associated with the disposition of the business. As a result of the disposition, we recorded a loss of $10.9 million, which included direct costs to sell the business. We presented the net loss in Selling, general and administrative expenses in the consolidated statements of operations for the year ended December 31, 2025.
The disposition of the business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements since the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results.
v3.25.4
TRADE ACCOUNTS AND NOTES RECEIVABLE
 12 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
TRADE ACCOUNTS AND NOTES RECEIVABLE
5. TRADE ACCOUNTS AND NOTES RECEIVABLE
Trade accounts and notes receivable from customers at December 31, 2025 and 2024 consist of the following:
(In millions)20252024
Trade accounts receivable$462.5 $497.3 
Notes receivable1.0 1.1 
Total trade accounts and notes receivable463.5 498.4 
Less allowance for credit losses4.8 3.1 
Trade accounts and notes receivable, net$458.7 $495.3 
v3.25.4
INVENTORIES
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORIES
6. INVENTORIES
Inventories at December 31, 2025 and 2024 consist of the following:
(In millions)20252024
Raw materials$240.0 $231.0 
Work-in-process55.4 59.6 
Finished goods (1)
347.8 347.5 
Inventories, net$643.2 $638.1 
(1) Includes consignment inventories held by customers of $25.1 million and $24.0 million at December 31, 2025 and 2024, respectively.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
7. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment at December 31, 2025 and 2024 consists of the following:
(In millions)20252024Estimated
useful lives in
years
Land$79.9 $47.2 
Buildings and improvements1,041.0 849.8 
5-35
Manufacturing equipment877.5 799.6 
5-10
Canisters and cylinders218.5 204.0 
3-12
Molds90.4 85.4 
3-5
Office furniture and lab equipment372.1 338.2 
3-8
Construction in progress175.9 356.1 
Total property, plant and equipment2,855.3 2,680.3 
Less accumulated depreciation1,219.2 1,057.4 
Property, plant and equipment, net$1,636.1 $1,622.9 

The table below sets forth the depreciation expense for the years ended December 31, 2025, 2024 and 2023:

(In millions)202520242023
Depreciation expense$205.3 $188.1 $172.7 
v3.25.4
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
8. GOODWILL AND INTANGIBLE ASSETS
Goodwill activity for each of the Company’s reportable segments, Materials Solutions (“MS”) and Advanced Purity Solutions (“APS”), for the years ended December 31, 2025 and 2024 is shown below:
(In millions)MSAPSTotal
December 31, 2023$3,631.4 $314.5 $3,945.9 
Foreign currency translation(0.1)(2.2)(2.3)
December 31, 2024$3,631.3 $312.3 $3,943.6 
Foreign currency translation— 3.1 3.1 
December 31, 2025$3,631.3 $315.4 $3,946.7 
Identifiable intangible assets at December 31, 2025 and 2024 consist of the following:
2025
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,264.5 $747.3 $517.2 7.2
Trademarks and trade names172.1 59.7 112.4 14.0
Customer relationships630.8 354.5 276.3 14.0
Other25.5 24.5 1.0 5.1
$2,092.9 $1,186.0 $906.9 9.8
2024
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,256.7 $601.7 $655.0 7.2
Trademarks and trade names172.0 48.8 123.2 14.0
Customer relationships630.5 326.5 304.0 14.0
In-process research and development (1)
6.6 — 6.6 
Other25.5 22.6 2.9 5.1
$2,091.3 $999.6 $1,091.7 9.7
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets. All in-process research and development assets that were open as of December 31, 2024 were completed and reclassified to developed technology and began amortizing in 2025.
The table below sets forth the amortization expense for finite-lived intangible assets for the years ended December 31, 2025, 2024, and 2023:
(In millions)202520242023
Amortization expense$184.4 $190.1 $214.5 
The amortization expense for each of the five succeeding years and thereafter relating to finite-lived intangible assets currently recorded in the Company’s consolidated balance sheets is estimated to be the following at December 31, 2025:
(In millions)20262027202820292030ThereafterTotal
Future amortization expense$183.6 179.9 177.4 111.7 39.4 214.9 $906.9 
v3.25.4
DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
DEBT
9. DEBT
The Company’s debt at December 31, 2025 and 2024 consists of the following:

(In millions)20252024
Senior secured term loan due 2029 at 4.88% (1)
$450.0 $750.0 
Senior secured notes due 2029 at 4.75%
1,600.0 1,600.0 
Senior unsecured notes due 2030 at 5.95%
895.0 895.0 
Senior unsecured notes due 2029 at 3.625%
400.0 400.0 
Senior unsecured notes due 2028 at 4.375%
400.0 400.0 
Revolving facility due 2027 (2)
— — 
Total debt (par value)$3,745.0 $4,045.0 
Unamortized discount and debt issuance costs(47.4)(63.9)
Total long-term debt, net$3,697.6 $3,981.1 
Annual maturities of long-term debt, excluding unamortized discount and issuance costs, due as of December 31, 2025 are as follows:
(In thousands)20262027202820292030ThereafterTotal
Long-term debt obligation maturities*— — 400.0 2,450 895 — $3,745.0 
* Senior secured term loans B subject to Excess Cash Flow payments to the lenders.
(1) Our senior secured term loan due 2029 bears interest rate at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an applicable margin of 0.75%.
(2) Our senior secured revolving credit facility due 2027 (the “Revolving Facility”) bears interest at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an appliable margin of 0.75%. The Revolving Facility has commitments of $575.0 million. There were no borrowing outstanding under the Revolving Facility as of December 31, 2025 and December 31, 2024.
During the year ended December 31, 2025, the Company has repaid $300.0 million of the outstanding borrowings under the senior secured term loan. In connection with these repayments, the Company incurred a pre-tax loss on extinguishment of debt of $3.2 million for the year ended December 31, 2025, which is included in Other expense, net on the consolidated statements of operations.
v3.25.4
FAIR VALUE OF FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
10. FAIR VALUE OF FINANCIAL INSTRUMENTS
The Company is required to record certain assets and liabilities at fair value. The valuation methods used for determining the fair value of these financial instruments by hierarchy are as follows:
Level 1 Cash and cash equivalents consist of various bank accounts used to support our operations and investments in institutional money-market funds that are traded in active markets.
Level 2 Derivative financial instruments include an interest rate swap contract and foreign exchange contracts. The fair value of our derivative instruments is estimated using standard valuation models and market-based observable inputs over the contractual term, including the prevailing SOFR-based yield curves for the interest rate swap, and forward rates and/or the Overnight Index Swap curve for forward foreign exchange contracts, among others. The fair value of our debt is estimated based on independent broker/dealer bids or by comparison to other debt securities having similar durations, yields and credit ratings.
Level 3 No Level 3 financial instruments
The following table presents financial instruments that we measure at fair value on a recurring basis. See Note 9 to our consolidated financial statements for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value.
Fair Value Measurements at Reporting Date Using
(In thousands)Level 1Level 2Level 3Total
Assets:20252024202520242025202420252024
Cash and cash equivalents$360.4 $329.2 $— $— $— $— $360.4 $329.2 
Derivative financial instruments - interest rate swap - cash flow hedge— — — 7.1 — — — 7.1 
Total Assets$360.4 $329.2 $— $7.1 $— $— $360.4 $336.3 
Other Fair Value Disclosures
The fair value of our debt is considered Level 2. The estimated fair value and carrying value of our debt as of December 31, 2025 and 2024 were as follows:
December 31, 2025December 31, 2024
(In thousands)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$3,697.6 $3,738.0 $3,981.1 $3,909.3 
v3.25.4
DERIVATIVE INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS
11. DERIVATIVE INSTRUMENTS
The Company is exposed to various market risks, including risks associated with interest rates and foreign currency exchange rates. One objective of the Company's risk management program is to mitigate these risks using derivative instruments.
Cash Flow Hedges - Interest Rate Swap Contract
In July 2022, the Company entered into a floating-to-fixed swap agreement on its variable rate debt under the Term Loan Facility. The interest rate swap was designated specifically to the Term Loan Facility, was highly effective and qualified as a cash flow hedge. The notional amount was scheduled to decrease quarterly and expired on December 30, 2025. As cash flow hedges, unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. Unrealized gains and losses
are designated as effective or ineffective based on a comparison of the changes in fair value of the interest rate swaps and changes in fair value of the underlying exposures being hedged. The effective portion is recorded as a component of Accumulated other comprehensive loss and will be reflected in earnings during the period the hedged transaction effects earnings, while the ineffective portion is recorded as a component of Interest expense.
Foreign Currency Contracts Not Designated as Hedges
The Company may enter into foreign exchange contracts in an effort to mitigate the risks associated with currency fluctuations on certain foreign currency balance sheet exposures. These foreign exchange contracts do not qualify for hedge accounting. The Company recognizes the change in fair value of its foreign currency forward contracts in the consolidated statement of operations.
The notional amounts of our derivative instruments are as follows:
(In thousands)
Derivatives designated as hedging instruments:December 31, 2025December 31, 2024
Interest rate swap contract - cash flow hedge$— $750.0 
The fair values of our derivative instruments included in the consolidated balance sheets are as follows:
(In thousands)
Consolidated Balance Sheet LocationDerivative Assets
Derivatives designated as hedging instruments: Interest rate swap contract - cash flow hedgeDecember 31, 2025December 31, 2024
Other current assets$— $7.1 
The following table summarizes the effects of our derivative instruments on our consolidated statements of operations for the years ended December 31, 2025, 2024 and 2023:
(In thousands)
Consolidated Statements of Operations Location
Gain recognized in Consolidated Statements of Income
Derivatives designated as hedging instruments:202520242023
Interest rate swap contract - cash flow hedgeInterest expense$(7.9)$(27.0)$(37.2)
Derivatives not designated as hedging instruments:202520242023
Foreign exchange contractsOther expense, net$— $— $(0.4)
The following table summarizes the effects of our derivative instruments on Accumulated other comprehensive loss for the years ended December 31, 2025, 2024 and 2023:
Loss recognized in Accumulated other comprehensive loss
(In thousands)202520242023
Derivatives designated as hedging instruments:
Interest rate swap contract - cash flow hedge$(5.5)$(13.1)$(17.4)
v3.25.4
OTHER EXPENSE, NET
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
OTHER EXPENSE, NET
12. OTHER EXPENSE, NET
The table below sets forth the Other expense, net for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Infineum termination fee, net$— $— $(10.9)
Patent infringement settlement gain, net— (20.0)— 
Loss on foreign currency remeasurement7.1 7.7 5.7 
Loss on extinguishment of debt and modification3.2 14.3 29.9 
Other, net(0.9)2.0 0.7 
Other expense, net$9.4 $4.0 $25.4 


Patent infringement settlement gain, net
During the fourth quarter of 2024, the Company settled patent infringement litigation and received net proceeds of $20.0 million.

Infineum termination fee, net
On October 11, 2022, the Company and Infineum entered into a definitive agreement for the sale of the Company’s PIM business. On February 10, 2023, the Company terminated the definitive agreement. In accordance with the terms of the definitive agreement, the Company received a $12.0 million termination fee from Infineum in the first quarter of 2023 and incurred a transaction fee of $1.1 million to the third-party financial adviser it had engaged to assist with the transaction.
v3.25.4
LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES
13. LEASES
As of December 31, 2025, the Company was obligated under operating and finance lease agreements for certain office space and manufacturing facilities, manufacturing equipment, vehicles, information technology equipment and warehouse space. Our leases have remaining lease terms of 1 year to 29 years, some of which may include options to extend the lease for up to 10 years, and some of which may include options to terminate the leases within 1 year.
As of December 31, 2025 and 2024, the Company’s operating and financing lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheets as follows, together with certain supplemental balance sheet information:
(In thousands)
Classification20252024
Assets
Right-of-use assets:
    Operating leaseRight-of-use assets90.2 62.5 
    Finance leaseRight-of-use assets18.5 20.9 
    Total right-of-use assets$108.7 $83.4 
Liabilities
Short-term lease liability:
   Operating leaseOther accrued liabilities13.8 13.8 
   Finance leaseOther accrued liabilities2.0 1.9 
Total short-term lease liability$15.8 $15.7 
Long-term lease liability:
    Operating leasesLong-term lease liability81.6 53.7 
    Finance leasesLong-term lease liability17.0 18.4 
Total long-term lease liability$98.6 $72.1 
Total lease liabilities$114.4 $87.8 
Lease Term and Discount Rate
Weighted average remaining lease term (years) - Operating leases9.97.8
Weighted average remaining lease term (years) - Finance leases12.913.4
Weighted average discount rate - Operating leases5.2 %4.5 %
Weighted average discount rate - Finance leases5.2 %5.1 %
Expense for leases less than 12 months for the year ended December 31, 2025, 2024 and 2023 were not material. The components of lease expense for the year ended December 31, 2025, 2024 and 2023 are as follows:

(In thousands)
202520242023
Operating lease cost$18.5 $17.9 $18.1 
Finance lease cost:
    Amortization of ROU assets2.7 2.2 1.8 
    Interest on lease liabilities1.0 1.1 0.8 

The Company combines the amortization of the right-of-use assets and the change in the operating lease liability in the same line item in the Statement of Cash Flows. Other information related to the Company’s operating leases for the year ended December 31, 2025, 2024 and 2023 are as follows:
(In thousands)
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows - Operating leases$18.4 $18.9 $18.5 
    Cash flows - Finance leases2.4 2.7 2.2 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$46.0 $22.3 $6.2 
Finance leases1.8 1.5 8.8 
Future minimum lease payments for noncancellable leases as of December 31, 2025, were as follows:

(In thousands)Operating leasesFinance leases
One year$18.9 $2.7 
Two years17.5 2.7 
Three years13.2 2.7 
Four years9.5 2.0 
Five years7.4 1.9 
Beyond five years58.8 14.0 
Total minimum lease payments$125.3 $26.0 
Less: Interest(29.9)7.0 
Present value of lease liabilities$95.4 $19.0 
v3.25.4
ASSET RETIREMENT OBLIGATIONS
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation [Abstract]  
ASSET RETIREMENT OBLIGATIONS
14. ASSET RETIREMENT OBLIGATIONS
The Company has asset retirement obligations (“AROs”) related to environmental disposal obligations associated with certain restoration obligations associated with certain of its leased facilities, and cylinders used to supply customers with gas products.
Changes in the carrying amounts of the Company’s AROs for the years ended December 31, 2025 and 2024 are shown below:
(In millions)20252024
Balance at beginning of year$22.4 $21.7 
Liabilities settled(0.3)(0.6)
Liabilities incurred3.0 2.3 
Accretion expense— 0.2 
Revision of estimate7.4 (1.2)
Balance at end of year$32.5 $22.4 
ARO liabilities expected to be settled within twelve months are included in the consolidated balance sheets in Other accrued liabilities, while all other ARO liabilities are included in Pension benefit obligations and other liabilities in the consolidated balance sheets.
v3.25.4
RESTRUCTURING COSTS
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
RESTRUCTURING COSTS
15. RESTRUCTURING COSTS

During 2025, the Company initiated certain business restructuring activities aimed at improving operational efficiency and aligning resources with strategic priorities. These activities resulted in restructuring charges of $29.7 million for the year ended December 31, 2025, primarily related to (i) an internal reorganization, combining two complementary divisions into one and realigning its customer facing organization, which occurred in the fourth quarter of 2024, and (ii) commencing in the second quarter of 2025, workforce reductions, contract termination costs and the abandonment of certain capital equipment no longer necessary for the Company’s long-term objectives. These restructuring activities are deemed to be discrete initiatives that are different from the Company’s ongoing productivity improvements.

The charges related to these restructuring activities were recognized in the consolidated statements of operations for the year ended December 31, 2025 as follows:
2025
(In millions)Employee Termination BenefitsAsset Impairment ChargesContract exit costsTotal
Cost of sales$4.3 $— $— $4.3 
Selling, general and administrative6.1 11.7 4.0 21.8 
Engineering, research and development3.6 — — 3.6 
Total$14.0 $11.7 $4.0 $29.7 

Restructuring charges by reportable segment as well as unallocated corporate level charges for the year ended December 31, 2025 as follows:
2025
(In millions)Employee Termination BenefitsAsset Impairment ChargesContract exit costsTotal
MS$4.7 $— $— $4.7 
APS8.3 11.7 4.0 24.0 
Unallocated corporate1.0 — — 1.0 
Total$14.0 $11.7 $4.0 $29.7 
v3.25.4
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES
16. INCOME TAXES
Income before income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023 was derived from the following sources:

(In millions)202520242023
Domestic$(286.0)$(239.8)$(457.9)
Foreign540.6 561.8 630.6 
Income before income tax expense (benefit)$254.6 $322.0 $172.7 
Income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023 is summarized as follows:
(In millions)202520242023
Current:
Federal$1.7 $14.8 $10.8 
State1.0 0.9 1.3 
Foreign102.7 91.5 125.1 
$105.4 $107.2 $137.2 
Deferred (net of valuation allowance):
Federal$(79.1)$(74.0)$(135.4)
State(3.6)(3.2)(5.8)
Foreign(4.7)(1.7)(4.4)
$(87.4)$(78.9)$(145.6)
Income tax expense (benefit)$18.0 $28.3 $(8.4)

Income tax expense differs from the expected amounts based upon the statutory federal tax rates for the year ended December 31, 2025 as follows:
(In millions)2025
U.S Federal Statutory Tax Rate$53.5 21.0 %
State income taxes before valuation allowance, net of federal tax effect (A)(3.6)(1.4)%
Effect of foreign source income:
Japan
     Statutory tax rate difference between Japan and United States6.2 2.4 %
     Other(2.0)(0.8)%
Taiwan
     Withholding tax4.4 1.7 %
     Foreign tax credit(4.2)(1.6)%
     Other0.1 0.1 %
Singapore
     Statutory tax rate difference between Singapore and United States(42.4)(16.6)%
     Non-deductible expenses17.1 6.7 %
     Withholding tax5.0 2.0 %
     Foreign tax credit(22.4)(8.8)%
     Other(0.4)(0.2)%
Other foreign jurisdictions6.6 2.6 %
Effect of Changes in Tax Laws or Rates Enacted in the Current Period
Effect of Cross-Border Tax Laws
   Global intangible low-taxed income10.9 4.3 %
   Foreign derived intangible income(4.8)(1.9)%
   Subpart F income inclusions2.9 1.1 %
   Other0.8 0.3 %
Tax Credits
   Research & development tax credits(17.3)(6.8)%
Changes in Valuation Allowances— — %
Nontaxable or Nondeductible Items
   Share-based payment awards6.9 2.7 %
   Executive compensation2.5 1.0 %
   Other1.6 0.6 %
Changes in Unrecognized Tax Benefits(3.8)(1.5)%
Other Adjustments
   Legal entity divestiture activity— — %
   Other Items0.4 0.2 %
Effective Tax Rate$18.0 7.1 %
(A) State taxes in California, Illinois and Oregon made up the majority (greater than 50%) of the tax effects in this category.
Income tax expense (benefit) differs from the expected amounts based upon the statutory federal tax rates for the years ended December 31, 2024 and 2023 as follows:
(In millions)20242023
Expected federal income tax at statutory rate$66.7 $36.3 
State income taxes before valuation allowance, net of federal tax effect(6.2)(9.4)
Effect of foreign source income(25.7)(18.4)
Tax contingencies(2.3)11.0 
Valuation allowance11.5 9.0 
U.S. federal research credit(14.3)(18.7)
Equity compensation5.4 7.4 
Foreign derived intangible income(7.9)(5.1)
Legal entity divestiture activity1.0 (20.3)
Other items, net0.1 (0.2)
Income tax expense (benefit) $28.3 $(8.4)
The Company has made employment and spending commitments to Singapore. In return for those commitments, the Company was granted a partial tax holiday for eight years starting in 2013. During 2017, this agreement was extended to 2027 in exchange for revised employment and spending commitments. The income tax benefits attributable to the tax status are $26.1 million ($0.17 per diluted share), $27.7 million ($0.18 per diluted share) and $19.7 million ($0.13 per diluted share) for the years ending December 31, 2025, 2024 and 2023, respectively. The 2025, 2024 and 2023 effective tax rates include additional benefits of $16.1 million, $17.1 million and $12.1 million because the corporate tax rate in Singapore is lower than the U.S. rate.
At December 31, 2025, there were approximately $393.2 million of accumulated undistributed earnings of subsidiaries outside of the United States, all of which are considered to be indefinitely reinvested. Management estimates that approximately $26.1 million of withholding taxes would be incurred if these undistributed earnings were distributed.   
The significant components of the Company’s deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 are as follows:
(In millions)20252024
Deferred tax assets attributable to:
Accounts receivable$0.5 $1.3 
Inventory12.7 11.9 
Accruals not currently deductible for tax purposes14.1 12.0 
Net operating loss and credit carryforwards108.5 69.5 
Capital loss carryforward7.5 7.5 
Equity compensation10.6 10.7 
Interest expense limitations52.2 51.4 
Capitalization of engineering, research and development expenses156.8 134.4 
Other, net8.2 6.3 
Gross deferred tax assets$371.1 $305.0 
Valuation allowance(79.1)(71.8)
Net deferred tax assets$292.0 $233.2 
Deferred tax liabilities attributable to:
Purchased intangible assets$(184.2)$(215.9)
Depreciation and amortization(18.7)(24.9)
Total deferred tax liabilities$(202.9)$(240.8)
Net deferred tax assets (liabilities)$89.1 $(7.6)
Deferred tax assets are generally required to be reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized.
As of December 31, 2025 and 2024, the Company had net U.S. deferred tax assets of $117.5 million and deferred tax assets of $20.1 million, respectively, which are composed of temporary differences and various tax credit carryforwards. The Company had state operating loss and credit carryforwards of approximately $30.5 million, which begin to expire in 2026. Management
believes that it is more likely than not that the benefit from certain state net operating loss carryforwards, state credit carryforwards, capital loss carryforwards and certain federal foreign tax credit carryforwards will not be realized. In recognition of this risk, management has provided valuation allowances of $40.8 million and $36.5 million as of December 31, 2025 and 2024, respectively, on the related deferred tax assets. If the assumptions change and management determines the assets will be realized, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets at December 31, 2025 will be recognized as a reduction of income tax expense.
As of December 31, 2025 and 2024, the Company had net non-U.S. deferred tax assets of $50.7 million and $44.2 million, respectively, for which management determined based upon the available evidence a valuation allowance of $38.3 million and $35.3 million as of December 31, 2025 and 2024, respectively, was required against the non-U.S. gross deferred tax assets. For other non-U.S. jurisdictions, management relies upon projections of future taxable income to utilize deferred tax assets.
At December 31, 2025, the Company had foreign operating loss carryforwards of $69.7 million, which begin to expire in 2026.
Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax positions will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that fail to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The provisions also provide guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties.
Reconciliations of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2025 and 2024 are as follows:
(In millions)20252024
Gross unrecognized tax benefits at beginning of year$44.3 $67.7 
Increase in tax positions from prior years0.1 0.3 
Decrease in tax positions from prior years(5.6)(4.8)
Increases in tax positions for current year7.2 5.5 
Settlement of tax positions for current year(0.7)(21.6)
Lapse in statute of limitations(11.6)(2.8)
Gross unrecognized tax benefits at end of year$33.7 $44.3 
The total amount of net unrecognized tax benefits that, if recognized, would affect the effective tax rate was $28.4 million at December 31, 2025.
Penalties and interest paid or received are recorded in other expense, net in the consolidated statements of operations. As of December 31, 2025 and 2024, the Company had accrued interest and penalties related to unrecognized tax benefits of $5.1 million and $6.0 million, respectively. Expenses of $1.0 million, $3.0 million and $2.5 million were recognized as interest and penalties in the consolidated statements of operations for the years ended December 31, 2025, 2024 and 2023, respectively.
The Company files income tax returns in the U.S. and in various state, local and foreign jurisdictions. The statutes of limitations related to both the consolidated federal income tax return and state returns are closed for all years up to and including 2021 and 2021, respectively. With respect to foreign jurisdictions, the statute of limitations varies from country to country, with the earliest open year for the Company’s major foreign subsidiaries being 2019.
The significant components of the Company’s income taxes paid (net of refunds) at December 31, 2025 are as follows:
(In millions)2025
Federal$0.1 
State(0.1)
Foreign113.0
Total$113.0 
Income taxes paid (net of refunds) exceeded 5 percent of total income taxes paid (net refunds) in the following jurisdictions:

(In millions)2025
Japan$19.7 
Korea6.2
Singapore58.4
Taiwan20.3
Pillar 2
The Organization Economic Co-operation and Development (“OECD”) introduced Base Erosion and Profit Shifting (“BEPS”) Pillar 2 rules that impose a global minimum tax rate of 15%. Numerous countries have already enacted, or are expected to enact, legislation to implement the 15% minimum tax rate. There was no material impact in 2025 and we will continue to evaluate the future potential impact on our consolidated financial statements and related disclosures.
One Big Beautiful Bill Act (the “Act”)
The Act was enacted on July 4, 2025. In accordance with ASC 740-10, the Company accounted for the effects of the new tax legislation in the quarter ended September 27, 2025, which is the quarter of enactment. The key provisions of the Act impacting the Company’s financial statements include the modification of interest expense limitations under IRC Section 163(j) and revisions to foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI). Certain provisions of the Act are effective for tax years beginning after December 31, 2025, and therefore did not affect the current year financial results. The Company will continue to evaluate the impact of the Act on its future tax positions.
v3.25.4
EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
EQUITY
17. EQUITY
Dividends
Holders of the Company’s common stock are entitled to receive dividends when and if they are declared by the Company’s board of directors. The Company’s board of directors declared quarterly cash dividends of $0.10 per share during 2025, which totaled $61.1 million. The Company’s board of directors declared quarterly cash dividends of $0.10 per share during 2024, which totaled $60.7 million. The Company’s board of directors declared quarterly cash dividends of $0.10 per share during 2023, which totaled $60.3 million.
On January 14, 2026, the Company’s board of directors declared a quarterly cash dividend of $0.10 per share to be paid on February 18, 2026 to shareholders of record as of January 28, 2026.
Future dividend declarations, if any, as well as the record and payment dates for such dividends, are subject to the final determination of the Company’s board of directors.
2020 Stock Plan
In 2020, the Company’s board of directors and stockholders approved the Entegris, Inc. 2020 Stock Plan (the “2020 Stock Plan”). The 2020 Stock Plan replaced the Entegris, Inc. 2010 Stock Plan for future stock awards and stock option grants. The 2020 Stock Plan has a term of ten years and provides for the issuance of stock options and other share-based awards to selected employees, directors, and other individuals or entities that provide services to the Company or its affiliates. Under the 2020 Stock Plan, the board of directors or a committee selected by the board of directors will determine for each award, the term, price, number of shares, rate at which each award is exercisable and whether restrictions are imposed on the shares subject to the awards. The exercise price for option awards generally may not be less than the fair market value per share of the underlying common stock on the date granted. The 2020 Stock Plan provides that after December 31, 2019, any shares subject to stock awards that were awarded from the Company’s expired plans and that are forfeited, expired or otherwise terminated without issuance of shares will again be available for issuance under the 2020 Stock Plan.
For all plans, exclusive of the employee stock purchase plan, the Company had shares available for future grants of 8.7 million, 9.7 million, and 10.2 million shares at December 31, 2025, 2024 and 2023, respectively.
Stock Options
Stock option activity for the years ended December 31, 2025, 2024 and 2023 is summarized as follows:

 202520242023
(Shares in thousands)Number of
shares		Weighted
average
exercise
price		Number of
shares		Weighted
average
exercise
price		Number of
shares		Weighted
average
exercise
price
Options outstanding, beginning of year1.2 $84.51 1.3 $71.83 1.8 $62.59 
Granted0.3 83.70 0.2 140.62 0.2 81.79 
Exercised(0.2)42.57 (0.3)52.19 (0.7)51.04 
Options outstanding, end of year1.3 $89.66 1.2 $84.51 1.3 $71.83 
Options exercisable, end of year0.8 $84.92 0.8 $71.76 0.9 $63.08 
Options outstanding under the Company’s stock plans at December 31, 2025 are summarized as follows:
(Shares in thousands)Options outstandingOptions exercisable
Range of exercise pricesNumber
outstanding		Weighted
average
remaining life
in years		Weighted-
average
exercise
price		Number
exercisable		Weighted
average
exercise
price
$0.00 to $70.30
0.3 1.9 years$56.73 0.3 $56.73 
$70.31 to $80.71
0.3 4.8 years79.57 0.2 79.61 
$80.72 to $98.11
0.4 4.5 years90.93 0.2 96.01 
$98.12 to $140.62
0.3 4.1 years134.68 0.1 131.44 
1.3 4.0 years$89.66 0.8 $84.92 
The weighted average remaining contractual term for options outstanding and options exercisable for all plans at December 31, 2025 was 4.0 years and 2.9 years, respectively.
Under the stock plans, the total pre-tax intrinsic value of stock options exercised during the years ended December 31, 2025 and 2024 was $7.1 million and $23.2 million, respectively. The aggregate intrinsic value, which represents the total pre-tax intrinsic value based on the Company’s closing stock price of $84.25 at December 31, 2025, which theoretically could have been received by the option holders had all option holders exercised their options as of that date, was $8.9 million and $8.0 million for options outstanding and options exercisable, respectively.
Share-based payment awards in the form of stock option awards for 0.3 million, 0.2 million and 0.2 million shares were granted to employees during the years ended December 31, 2025, 2024 and 2023, respectively. Compensation expense is based on the grant date fair value. The awards vest annually over a period of four years and have a contractual term of 7 years. The Company estimates the fair value of stock options using the Black-Scholes valuation model. Key inputs and assumptions used to estimate the fair value of stock options include the grant price of the award, the expected option term, volatility of the Company’s stock, the risk-free rate and the Company’s dividend yield. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by employees who receive equity awards, and subsequent events are not indicative of reasonableness of the original estimates of fair value made by the Company.
The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31, 2025, 2024 and 2023:
Employee stock options:202520242023
Volatility47.0 %47.6 %46.5 %
Risk-free interest rate3.9 %4.4 %3.7 %
Dividend yield0.5 %0.3 %0.5 %
Expected life (years)4.74.64.7
Weighted average fair value per option$35.70 $61.94 $34.40 
A historical daily measurement of volatility is determined based on the expected life of the option granted. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the
option granted. Expected life is determined by reference to the Company’s historical experience. The Company determines the dividend yield by dividing the expected annual dividend on the Company’s stock by the option exercise price.
Employee Stock Purchase Plan

The Company’s Employee Stock Purchase Plan (“ESPP”) allows employees to elect, at six-month intervals, to contribute up to 10% of their compensation, subject to certain limitations, to purchase shares of the Company’s common stock at a discount of 15% from the fair market value on the first day or last day of each six-month period. The Company treats the ESPP as a compensatory plan. At December 31, 2025, 2.3 million shares remained available for issuance under the ESPP. Employees purchased 0.3 million, 0.2 million and 0.2 million shares, at a weighted-average price of $69.24, $89.59, and $68.87 during the years ended December 31, 2025, 2024 and 2023, respectively.
Restricted Stock Units
Restricted stock units are awards of common stock made under the Stock Plans that are subject to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such restricted stock units is determined using the market price on the grant date. Compensation expense for restricted stock units is generally recognized using the straight-line single-option method. A summary of the Company’s restricted stock unit activity for the years ended December 31, 2025, 2024 and 2023 is presented in the following table:
202520242023
(Shares in thousands)
Number
of
shares		Weighted
average
grant date
fair value		Number
of
shares		Weighted
average
grant date
fair value		Number
of
shares		Weighted
average
grant date
fair value
Unvested, beginning of year1.1 $111.81 1.0 $89.08 0.9 $90.37 
Granted0.7 85.11 0.5 138.44 0.6 80.45 
Vested(0.4)108.75 (0.3)86.92 (0.4)78.17 
Forfeited(0.1)104.55 (0.1)101.31 (0.1)89.23 
Unvested, end of year1.3 98.40 1.1 111.81 1.0 89.08 

During the years ended December 31, 2025, 2024 and 2023, the Company awarded performance-based restricted stock units for up to 0.3 million, 0.1 million and 0.2 million shares of common stock, respectively, to be issued upon the achievement of performance conditions under the Company’s stock plans to certain officers. Compensation expense is based on the grant date fair value. The awards vest on the third anniversary of the award date if the performance conditions have been satisfied. The Company estimates the fair value of the performance shares using a Monte Carlo simulation process.
As of December 31, 2025, the total compensation cost related to unvested stock options, performance-based restricted stock units and restricted stock unit awards not yet recognized was $8.2 million, $7.2 million and $70.4 million, respectively, and is expected to be recognized over the next 2.7 years on a weighted-average basis.
Modification
During the year ended December 31, 2023, the Company modified restricted share units, options, and performance-based restricted share units granted prior to the 2022 fiscal year for certain employees to accelerate the unvested awards upon their respective retirements from the Company. The Company accounted for this as a modification of awards and recognized incremental compensation cost of $0.7 million for the year ended December 31, 2023. The incremental compensation cost was measured as the excess of the fair value of the modified award over the fair value of the original award immediately before its terms were modified and was recognized on the date of the modification for the vested awards.

There were no material modifications to employee awards during the years ended December 31, 2025 and 2024.
Valuation and Expense Information
The Company recognizes compensation expense for all share-based payment awards made to employees and directors based on their estimated fair values on the date of grant. Compensation expense is recognized using the straight-line attribution method to recognize share-based compensation over the service period of the award, with adjustments recorded for forfeitures as they occur. Awards issued to employees who are retirement eligible or nearing retirement eligibility are expensed on an accelerated basis. The following table summarizes the allocation of share-based compensation expense related to employee stock options, restricted stock awards, performance-based restricted stock awards and grants under the employee stock purchase plan for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Cost of sales$12.7 $11.1 $8.9 
Engineering, research and development expenses10.6 10.5 8.0 
Selling, general and administrative expenses46.0 44.3 44.5 
Share-based compensation expense$69.3 $65.9 $61.4 
Tax benefit13.6 13.0 12.5 
Share-based compensation expense, net of tax$55.7 $52.9 $48.9 
v3.25.4
BENEFIT PLANS
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
BENEFIT PLANS
18. BENEFIT PLANS
401(k) Plan
The Company maintains 401(k) defined contribution plans covering employees in the U.S. The related expense totaled $24.0 million, $24.6 million and $25.4 million in the fiscal years ended December 31, 2025, 2024 and 2023, respectively. During the year ended December 31, 2025, the Company matched employees’ contributions to a maximum of 6% of the employee’s eligible wages. The Company’s Singapore, Japan and South Korea subsidiaries also make contributions to retirement plans that function as defined contribution retirement plans, however these costs are immaterial.
Defined Benefit Plans
The employees of the Company’s subsidiaries in Japan, Taiwan, France and Germany are covered in defined benefit pension plans. On January 1, 2025, the Company converted 50% of its CMC Japan defined pension plans to defined contribution plans and amended the remaining 50% to be frozen. The resulting conversion and amendment to the plans reduced the benefit obligation by $2.8 million in the year ended December 31, 2025. The Company uses a December 31 measurement date for its pension plans. A summary of these combined plans are:
(In thousands)20252024
Projected benefit obligation$9.0 $11.6 
Fair value of plan assets1.4 1.5 
Plan assets less benefit obligation - net amount recognized(7.6)(10.1)
Accumulated benefit obligation8.2 9.0 
Cash Flows
Benefits for the combined plans were $0.2 million, $0.6 million and $1.0 million in fiscal years 2025, 2024 and 2023, respectively, consisting primarily of service costs. Net service costs are included in Cost of sales and Operating expenses, and all other costs are recorded in Other expense, net in our Consolidated Statements of Operations. The Company expects to make the following benefit payments:
(In thousands)Payments
2026$0.3 
20270.3 
20280.3 
20290.6 
20300.3 
Years 2031-2035
2.8 
v3.25.4
EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
19. EARNINGS PER COMMON SHARE
Basic earnings per common share (“EPS”) is calculated based on the weighted average number of shares of common stock outstanding during the applicable period. Diluted EPS is calculated based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the applicable period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted EPS:
(In thousands)202520242023
Basic—weighted average common shares outstanding151.7 150.9 149.9 
Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock0.5 0.9 1.0 
Diluted—weighted average common shares and common shares equivalent outstanding152.2 151.8 150.9 
The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Shares excluded from calculations of diluted EPS0.9 0.5 0.7 
v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
20. SEGMENT INFORMATION
Our business is organized and operated in two operating segments as discussed below. These segments share common business systems and processes, technology centers and technology roadmaps. With our complementary capabilities, we believe we are uniquely positioned to create new, co-optimized and increasingly integrated solutions for our customers, which should translate into improved device performance, lower cost of ownership and faster time to market.

•The Materials Solutions segment, or MS, provides materials-based solutions, such as chemical vapor and atomic layer deposition materials, chemical mechanical planarization (“CMP”) slurries and pads, ion implantation specialty gases, formulated etch and clean materials, and other specialty materials that enable our customers to achieve better device performance and faster time to yield, while providing for lower total cost of ownership.
•The Advanced Purity Solutions segment, or APS, offers filtration, purification and contamination-control solutions that improve customers’ yield, device reliability and cost by ensuring the purity of critical liquid chemistries and gases and the cleanliness of wafers and other substrates used throughout semiconductor manufacturing processes, the semiconductor ecosystem and other high-technology industries.

The Company's method for measuring profitability on a reportable segment basis is segment profit. Segment profit is defined as net sales less direct and indirect segment operating expenses, including certain general and administrative costs for the Company’s human resources, finance and information technology functions. The Company accounts for inter-segment sales and transfers as if the sales or transfers were to third parties. Inter-segment sales are presented as an elimination below. The remaining unallocated expenses consist mainly of the Company’s corporate functions as well as interest expense, interest income, amortization of intangible assets and income tax expense.

The Company's chief operating decision maker (CODM) is the President and Chief Executive Officer. For each of the reportable segments, the CODM uses segment profit (based on each segment’s target model) for determining the allocation of resources (including employees, financial, or capital resources) to the segments to achieve the Company's strategic plan and to assess the performance of each segment by monitoring actual results against performance targets established in the Company's annual budget and forecasting process. Total assets by segment are not presented as that information is not used to allocate resources or assess performance at the segment level and is not regularly reviewed by the Company’s CODM.

Summarized financial information for the Company’s reportable segments is shown in the following tables for the years ended December 31, 2025, 2024 and 2023:
2025
(In thousands)MSAPSInter-segmentTotal
Net sales$1,406.7 $1,799.1 $(9.2)$3,196.6 
Cost of sales790.8 995.1 (9.2)1,776.7 
Operating expenses339.3 377.6 — 716.9 
Segment profit$276.6 $426.4 $— $703.0 
2024
(In thousands)MSAPSInter-segmentTotal
Net sales$1,400.1 $1,850.2 $(9.1)$3,241.2 
Cost of sales769.2 994.4 (9.1)1,754.5 
Operating expenses344.7 359.7 — 704.4 
Segment profit$286.2 $496.1 $— $782.3 

2023
(In thousands)MSAPSInter-segmentTotal
Net sales$1,689.5 $1,846.6 $(12.2)$3,523.9 
Cost of sales1,060.6 977.9 (12.2)2,026.3 
Operating expenses332.5 337.3 — 669.8 
Segment profit$296.4 $531.4 $— $827.8 

The following table reconciles total segment profit to income before income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Total segment profit$703.0 $782.3 $827.8 
Less:
Amortization of intangibles184.4 190.1 214.5 
Unallocated general and administrative expenses62.7 58.3 114.1 
Operating income$455.9 $533.9 499.2 
Interest expense199.8 215.2 312.4 
Interest income(7.9)(7.3)(11.3)
Other expense, net9.4 4.0 25.4 
Income before income tax expense (benefit)$254.6 $322.0 $172.7 


The following tables summarize depreciation for the Company’s reportable segments for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Depreciation:
MS$89.8 $90.2 $95.4 
APS115.5 97.9 77.3 
Total depreciation $205.3 $188.1 $172.7 

In the following tables, revenue is disaggregated by country or region based on the ship to location of the customer for the years ended December 31, 2025, 2024 and 2023:
2025
(In thousands)MSAPSInter-segmentTotal
North America$270.3 $300.4 $(9.2)$561.5 
Taiwan279.1 456.8 — 735.9 
China268.1 389.6 — 657.7 
South Korea205.1 223.4 — 428.5 
Japan139.8 177.8 — 317.6 
Europe100.7 138.7 — 239.4 
Southeast Asia143.6 112.4 — 256.0 
$1,406.7 $1,799.1 $(9.2)$3,196.6 
2024
(In thousands)MSAPSInter-segmentTotal
North America$316.0 $364.7 $(9.1)$671.6 
Taiwan238.8 423.9 — 662.7 
China257.0 414.2 — 671.2 
South Korea202.6 216.2 — 418.8 
Japan128.5 180.9 — 309.4 
Europe115.8 159.7 — 275.5 
Southeast Asia141.4 90.6 — 232.0 
$1,400.1 $1,850.2 $(9.1)$3,241.2 
2023
(In thousands)MSAPSInter-segmentTotal
North America$540.4 $363.0 $(12.2)$891.2 
Taiwan232.0 358.7 — 590.7 
China197.0 369.9 — 566.9 
South Korea218.2 225.0 — 443.2 
Japan105.0 262.3 — 367.3 
Europe229.4 173.0 — 402.4 
Southeast Asia167.5 94.7 — 262.2 
$1,689.5 $1,846.6 $(12.2)$3,523.9 
The following table summarizes property, plant and equipment, net, attributed to significant country or region for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Property, plant and equipment, net:
North America$864.7 $876.8 $747.8 
Taiwan446.8 434.6 412.3 
South Korea134.3 117.7 101.1 
Japan116.7 114.8 118.9 
Malaysia41.9 44.3 50.2 
China27.8 30.4 32.9 
Other3.9 4.3 4.8 
$1,636.1 $1,622.9 $1,468.0 

The Company reported net sales of 10 percent or more for one customer in the amount of $526.8 million, $508.0 million and $382.9 million for the years ended December 31, 2025, 2024 and 2023, respectively, all of which include sales from both of the Company’s segments.
v3.25.4
GOVERNMENT INCENTIVES
 12 Months Ended
Dec. 31, 2025
Government Assistance [Abstract]  
GOVERNMENT INCENTIVES
21. GOVERNMENT INCENTIVES

CHIPS and Science Act Agreement

On December 3, 2024, the Company entered into a definitive agreement to receive funding under the CHIPS and Science Act of 2022 (“CHIPS Act”). The agreement provides the Company with up to $77.0 million intended to support capital expenditures related to the construction of a manufacturing facility in Colorado Springs, Colorado, research and development, and workforce training initiatives.
The grant is subject to certain conditions, including compliance with applicable federal regulations, progress milestones, and reporting requirements as set forth by the U.S. Department of Commerce. The Company is also required to meet specific performance and employment targets to maintain eligibility for the funding. As of December 31, 2025, the Company has received $8.2 million in disbursements with a corresponding reduction to carrying amounts of the qualifying manufacturing assets included in property, plant and equipment on the Consolidated Balance Sheet.
There are no material penalties or contingencies that would significantly affect the Company’s financial position, except as described above.
The CHIPS Act provides an investment tax credit for certain investments in U.S. semiconductor manufacturing. As of December 31, 2025, in connection with the CHIPS Act, the Company recorded a $31.0 million reduction to the carrying amounts of the qualifying manufacturing assets included in property, plant and equipment on the Consolidated Balance Sheet.
v3.25.4
COMMITMENTS AND CONTINGENT LIABILITIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENT LIABILITIES
22. COMMITMENTS AND CONTINGENT LIABILITIES
We are, from time-to-time, involved in various claims, proceedings and lawsuits relating to our business, employees, intellectual property and other matters. The outcomes of these legal actions are not within our complete control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, that could require significant expenditures or result in lost revenues. We record a liability for these legal actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. There is judgment required in the determination of the likelihood of outcome, and if necessary determination of the estimate or range of potential outcomes. Based on the current information, the Company does not believe any known matters have a reasonable possibility of a material amount for litigation or other contingencies related to legal proceedings.
v3.25.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
23. SUBSEQUENT EVENTS
The Company has evaluated subsequent events to the date of the issuance of the consolidated financial statements. The Company has determined that there are no events occurring in this period that require disclosure or adjustment, except as disclosed above.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Bertrand Loy [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 4, 2025, Bertrand Loy, our Executive Chair, entered into a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Mr. Loy’s plan provides for the sale of up to 100,000 shares of the Company’s common stock. The plan expires on November 6, 2026, or upon the earlier completion of all authorized transactions under the plan.
Name Bertrand Loy
Title Executive Chair
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 4, 2025
Expiration Date November 6, 2026
Arrangement Duration 337 days
Aggregate Available 100,000
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk management and strategy
 
As a key supplier in the semiconductor ecosystem, security and risk management of our technology systems and processes is critical to ensuring our ability to serve our customers without interruption.
 
Management of Cybersecurity Risks
 
Our management of cybersecurity risks is integrated into our Company-wide enterprise risk management program. As part of this process, our risk management team works closely with our IT department to identify and evaluate potential cybersecurity risks to the Company and to develop controls to mitigate and protect against those risks.

Each quarter, our Chief Information Security Officer (“CISO”) presents an overview of the Company’s cybersecurity risk landscape to our Enterprise Risk Management Committee, which includes our Executive Leadership Team and Vice President, Internal Audit. In addition, our CISO Council, which includes our CISO and our Chief Information and Digital Officer (“CIDO”), holds meetings with our Executive Leadership Team on a quarterly basis to review these cybersecurity risks and mitigation measures in further detail.

Our cybersecurity risk management program is aligned with the National Institute of Standards and Technology Cybersecurity Framework. We identify key assets that are critical to our business and assess potential cyber threats and vulnerabilities associated with those assets and the operations they enable. Following that assessment, we implement strategies and design controls to manage those risks. For example, we use single sign-on to limit access to our networks and multi-factor authentication to verify users’ identities. We also continuously monitor our systems and networks to protect against internal and external threat actors. We have policies and procedures in place, such as our Privileged Access Management process, to limit and control access to our confidential information by our vendors and other third parties. We also conduct due diligence and reviews of cybersecurity policies of third parties that access our systems or data. Additionally, we are focused on segregating our manufacturing processes from the Company’s other networks to minimize the risk of interruptions to our manufacturing operations resulting from cyber breaches. To increase our employees’ vigilance of cybersecurity risks and educate them on best practices relating to those risks, we conduct quarterly awareness sessions, annual trainings and monthly phishing campaigns.

Engagement of Third Parties
 
Given the complex and evolving nature of cybersecurity threats, the Company periodically engages third parties to assist us in evaluating our security vulnerabilities and developing and maintaining effective cybersecurity risk management. Partnering with third parties enables us to leverage specialized knowledge and insights, ensuring our cybersecurity strategies and processes are well-designed and effective. For example, in 2023, we engaged a global law firm to conduct an external assessment of our cybersecurity governance framework and processes and provide recommendations to improve our cybersecurity readiness and posture. Each year, to prevent and mitigate cybersecurity-related risks, we engage independent cybersecurity specialists to conduct comprehensive threat and vulnerability assessments, such as penetration testing, social engineering evaluations and structured tabletop exercises. Their findings help validate our controls, test our response capabilities and inform strategies our strategies to manage and reduce enterprise cybersecurity risk.
 
Oversight of Third-Party Risk
 
We are aware of the cybersecurity risks associated with engaging third-party service providers. To mitigate such risks, we conduct security assessments of high-risk third-party providers before engagement and maintain ongoing monitoring to ensure compliance with our cybersecurity standards. The monitoring includes ongoing assessments by our security engineers. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third parties.
 
Risks from Cybersecurity Threats

The Company’s information and operational technology systems and its third-party providers’ systems have been, and will likely continue to be, subject to cybersecurity threats, such as computer viruses or other malicious codes, ransomware, unauthorized access attempts, business email compromise, cyber extortion, denial of service attacks, phishing, social engineering, hacking and other cyberattacks attempting to exploit vulnerabilities.
To date, the Company is not aware that its business or operations have been, or are reasonably likely to be, materially impacted by these cyberattacks. However, the Company’s security efforts and the efforts of its third-party providers may not prevent or timely detect attacks and resulting breaches or breakdowns of the Company’s, or its third-party service providers’, databases or systems.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our management of cybersecurity risks is integrated into our Company-wide enterprise risk management program. As part of this process, our risk management team works closely with our IT department to identify and evaluate potential cybersecurity risks to the Company and to develop controls to mitigate and protect against those risks.
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]
Board of Directors’ Oversight
 
The Audit and Finance Committee (the “Audit and Finance Committee”) of our Board of Directors is responsible for reviewing and monitoring general IT and cybersecurity matters, including related risks, and reporting to the Board its determinations, actions and recommendations related thereto. Our Audit and Finance Committee is composed of independent directors with extensive executive leadership and risk management experience. Our CISO, together with our CIDO, provide quarterly updates to our Audit and Finance Committee regarding the cybersecurity risk landscape, specific risks affecting the Company and solutions to mitigate those risks, and legal and regulatory requirements relating to cybersecurity. These updates assist the Board in performing its oversight and risk management function. In addition, the full Board receives an annual report on cybersecurity directly from the CISO.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit and Finance Committee (the “Audit and Finance Committee”) of our Board of Directors is responsible for reviewing and monitoring general IT and cybersecurity matters, including related risks, and reporting to the Board its determinations, actions and recommendations related thereto.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our CISO, together with our CIDO, provide quarterly updates to our Audit and Finance Committee regarding the cybersecurity risk landscape, specific risks affecting the Company and solutions to mitigate those risks, and legal and regulatory requirements relating to cybersecurity.
Cybersecurity Risk Role of Management [Text Block]
Management’s Role Managing Risk
 
Our CISO is responsible for the implementation, operation and monitoring of our cybersecurity risk management program. Our current CISO, who reports to our CIDO, has over 20 years of experience managing the IT and cybersecurity operations within large, global organizations. His extensive experience assessing and mitigating cybersecurity risk, implementing governance structures and developing employee training programs is critical in developing and executing our cybersecurity strategies.

Monitoring of Cybersecurity Incidents
 
Our Cybersecurity Incident Response Plan establishes how we monitor and respond to cybersecurity incidents impacting our environment. The CISO works closely with members of our Executive Leadership Team and his cybersecurity team to monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents. We engage a third-party managed security services provider (MSSP) to provide 24/7 continuous monitoring of the Company’s IT and operational technology environments for potential cybersecurity incidents. In the event such an incident is identified by our MSSP or any of our employees, our cybersecurity team assigns it a severity classification and escalates the incident accordingly. Depending on the severity of the incident, certain key personnel are notified and work together to further investigate the incident and take actions to respond, which may include engaging with external specialists, regulatory authorities and our cybersecurity insurance carrier. The CISO receives regular updates on all incidents and incident responses, which the CISO shares with our Executive
Leadership Team on a weekly basis. Our cybersecurity team conducts a post-incident review of all major cybersecurity incidents, which review includes identification of vulnerabilities, assessment of the incident’s impact on the Company and recommendations to help prevent similar incidents in the future.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our CISO is responsible for the implementation, operation and monitoring of our cybersecurity risk management program. Our current CISO, who reports to our CIDO, has over 20 years of experience managing the IT and cybersecurity operations within large, global organizations. His extensive experience assessing and mitigating cybersecurity risk, implementing governance structures and developing employee training programs is critical in developing and executing our cybersecurity strategies.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CISO is responsible for the implementation, operation and monitoring of our cybersecurity risk management program. Our current CISO, who reports to our CIDO, has over 20 years of experience managing the IT and cybersecurity operations within large, global organizations. His extensive experience assessing and mitigating cybersecurity risk, implementing governance structures and developing employee training programs is critical in developing and executing our cybersecurity strategies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] In the event such an incident is identified by our MSSP or any of our employees, our cybersecurity team assigns it a severity classification and escalates the incident accordingly. Depending on the severity of the incident, certain key personnel are notified and work together to further investigate the incident and take actions to respond, which may include engaging with external specialists, regulatory authorities and our cybersecurity insurance carrier. The CISO receives regular updates on all incidents and incident responses, which the CISO shares with our Executive Leadership Team on a weekly basis. Our cybersecurity team conducts a post-incident review of all major cybersecurity incidents, which review includes identification of vulnerabilities, assessment of the incident’s impact on the Company and recommendations to help prevent similar incidents in the future.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles of Consolidation Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation.
Basis of Accounting The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes.
Use of Estimates On an ongoing basis, Entegris evaluates its estimates, including those related to receivables, inventories, property, plant and equipment, goodwill, intangible assets, accrued liabilities, income taxes and share-based compensation, among others. Actual results could differ from those estimates.
Reclassifications Reclassifications of certain prior year amounts have been made to conform to the current year presentation.
Cash and Cash Equivalents
Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly-liquid debt securities with original maturities of three months or less, which are valued at cost and approximate fair value.
Allowance for Credit Losses
Allowance for Credit Losses An allowance for uncollectible trade receivables is estimated based on a combination of write-off history, aging analysis and any specific, known troubled accounts. The Company maintains an allowance for credit losses that management believes is adequate to cover expected losses on trade receivables.
Inventories Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out (FIFO) method. The Company records a charge to cost of sales for excess and obsolete inventory to reduce the carrying value of inventories to net realizable value.
Leases
Leases The Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets include operating and financing leases. Short-term operating lease liabilities are classified in “Other accrued liabilities” and long-term operating lease liabilities are classified in “Long-term lease liability - Operating lease” in the consolidated balance sheet. Short-term finance leases are classified in “Other accrued liabilities” and long-term finance lease liabilities are classified in “Long-term lease liability - Finance lease” in our consolidated balance sheet.
Lease assets and liabilities greater than 12 months are recognized at commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The ROU assets include prepaid lease payments and exclude lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an original term of 12 months or less are not recorded in the accompanying consolidated balance sheet.
Lease and non-lease components are generally accounted for separately for real estate leases. For non-real estate leases, we account for the lease and non-lease components as a single lease component.
Property, Plant and Equipment
Property, Plant and Equipment Property, plant and equipment are carried at cost and are depreciated using the straight-line method over their estimated useful lives. When assets are retired or disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is recognized in the period incurred. Maintenance and repairs are expensed as incurred, while significant additions and improvements are capitalized. Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable based on estimated future undiscounted cash flows. The amount of impairment, if any, is measured as the difference between the net book value and the estimated fair value of the asset(s).
In January 2026, we completed an assessment of the useful lives of our property, plant and equipment and adjusted the estimated useful lives of certain property, plant and equipment to more closely reflect the expected economic lives of these assets. These adjustments followed an analysis of our actual usage of assets, including the technological and physical obsolescence of these assets, our ability to continue to use equipment, historical usage trends, and anticipated capital plans and technology roadmaps, as well as industry trends and practices. Based on this analysis, we determined that the increase in useful lives was warranted and consistent with the Company’s historical and anticipated use of these assets. The updated estimated useful lives of certain assets for financial reporting purposes are as follows: buildings and improvements, 5 to 35 years increased to 5 to 40 years; manufacturing equipment, 5 to 10 years increased 5 to 14 years; canister and cylinder, 3 to 12 years increased to 3 to 19 years; molds, 3 to 5 years increased to 3 to 9 years and lab equipment, 3 to 8 years increased to 3 to 9 years.
Fair Value of Financial Instruments
Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable, accounts payable, accrued payroll and related benefits, and other accrued liabilities approximates fair value due to the short maturity of those instruments. Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three-level hierarchy for disclosure is based on the extent and level of judgment used to estimate fair value. Level 1 inputs consist of valuations based on quoted market prices in active markets for identical assets or liabilities. Level 2 inputs consist of valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in an inactive market, or other observable inputs. Level 3 inputs consist of valuations based on unobservable inputs that are supported by little or no market activity.
Goodwill and Intangible Assets
Goodwill and Intangible Assets Goodwill represents the excess of acquisition costs over the fair value of the net assets of businesses acquired. Goodwill is not subject to amortization, but is tested for impairment annually at August 31, the Company’s annual testing date, and whenever events or changes in circumstances indicate that impairment may have occurred.
In performing the Company’s annual goodwill impairment test, the Company is permitted to first assess qualitative factors to determine whether it is more likely than not that the carrying amount of the Company’s reporting unit exceeds its fair value including goodwill. In performing the qualitative assessment, the Company considers certain events and circumstances specific to the reporting unit and to the entity as a whole, such as macroeconomic conditions, industry and market considerations, overall financial performance and cost factors when evaluating whether it is more likely than not that the carrying value of the reporting unit exceeds its fair value. The Company is also permitted to bypass the qualitative assessment and proceed directly to the quantitative assessment. If the Company chooses to undertake the qualitative assessment and concludes that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, the Company would then proceed to the quantitative impairment assessment. In the quantitative assessment, the Company compares the fair value of the reporting unit to its carrying amount, which includes goodwill. If the fair value exceeds the carrying value, no impairment loss exists. If the fair value is less than the carrying amount, a goodwill impairment loss is measured and recorded.
The quantitative impairment test requires us to estimate the fair value of a reporting unit, which is based on a combination of the income and market approaches. The income approach is a valuation technique under which we estimate future cash flows using the reporting unit’s financial forecast from the perspective of an unrelated market participant. Using historical trending and internal forecasting techniques, we project revenue and apply our fixed and variable cost expense rate to the projected revenue to arrive at the future cash flows. A terminal value is then applied to the projected cash flow stream. Future estimated cash flows are discounted to their present value to calculate the estimated fair value. The discount rate used is the value-weighted average of our estimated cost of capital derived using both known and estimated customary market metrics. In determining the estimated fair value of a reporting unit, we are required to estimate a number of factors, including appropriate market comparable, projected future revenue growth and gross margins, the discount rate reflecting the risk inherent in future cash flows, the terminal growth rate, and projected future economic and market conditions. The market approach is a valuation technique under which we estimate the fair value of a reporting unit using publicly available market multiples for comparable companies.
Amortizable intangible assets include, among other items, patented, unpatented and other developed technology and customer-based intangibles, and are amortized using the straight-line method over their respective estimated useful lives. The Company reviews intangible assets and other long-lived assets for impairment if changes in circumstances or the occurrence of events suggest the remaining value may not be recoverable.
Derivative Financial Instruments
Derivative Financial Instruments The Company is exposed to various market risks, including risks associated with interest rates and foreign currency exchange rates. We enter into certain derivative transactions to mitigate the volatility associated with these exposures. We have policies in place that define acceptable instrument types we may enter into and we have established controls to limit our market risk exposure. We do not use derivative financial instruments for trading or speculative purposes. In addition, all derivatives, whether designated in hedging relationships or not, are recorded on the consolidated balance sheets at fair value on a gross basis.
Interest Rate Swap
The fair value of the interest rate swap is estimated using standard valuation models using market-based observable inputs over the contractual term, including one-month Secured Overnight Financing Rate (“SOFR”) based yield curves, among others. We consider the risk of nonperformance, including counterparty credit risk, in the calculation of the fair value. We have designated this swap agreement as a cash flow hedge. As a cash flow hedge, unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. Unrealized gains and losses are designated as effective or ineffective based on a comparison of the changes in fair value of the interest rate swap and changes in fair value of the underlying exposures being hedged. The effective portion is recorded as a component of accumulated other comprehensive loss, while the ineffective portion is recorded as a component of Interest expense. Changes in the method by which we pay interest from one-month SOFR to another rate of interest could create ineffectiveness in the swap, and result in amounts being reclassified from other comprehensive income
(loss) into net income. Hedge effectiveness is tested quarterly to determine if hedge treatment is appropriate. Realized gains and losses are recorded on the same financial statement line as the hedged item, which is Interest expense.
Foreign Currency Contracts Not Designated as Hedges
On a periodic basis, we enter into forward foreign exchange contracts in an effort to mitigate the risks associated with currency fluctuations on certain foreign currency balance sheet exposures. These foreign exchange contracts do not qualify for hedge accounting; therefore, the gains and losses resulting from the impact of currency exchange rate movements on our forward foreign exchange contracts are recognized as Other expense (income), net in the accompanying consolidated statements of operations in the period in which the exchange rates change.
Foreign Currency Translation
Foreign Currency Translation Assets and liabilities of certain foreign subsidiaries are translated from foreign currencies into U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss in the consolidated balance sheets. Income statement amounts are translated at the average exchange rates for the year. Translation adjustments are not adjusted for income taxes, as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in Other expense (income), net, in the Company’s consolidated statements of operations.
Revenue Recognition
Revenue Recognition Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer.
Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.
Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.
The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less.
When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from advance payments received on sales of the Company’s products. The Company makes the required disclosures with respect to deferred revenue in Note 2 to the consolidated financial statements.
The Company does not disclose information about remaining performance obligations that have original expected durations of one year or less.
The following is a description of principal activities from which the Company generates its revenues. The Company has two reportable segments. For more detailed information about reportable segments, see Note 20 to the consolidated financial statements. For each of the two reportable segments, the recognition of revenue regarding the nature of goods and services provided by the segments are similar and described below. The Company recognizes revenue for product sales at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment or delivery, depending on the terms of the underlying contracts. For product sales contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation identified in the contract based on relative standalone selling prices, or estimates of such prices, and recognizes the related revenue as control of each individual product is transferred to the customer in satisfaction of the corresponding performance obligations. All material revenue is being recognized at a point in time.
The Company generally recognizes revenue for sales of services when the Company has satisfied the performance obligation. The payment terms and revenue recognized are based on time and materials.
The Company also enters into arrangements to license its intellectual property. These arrangements typically permit the customer to use a specialized manufacturing process and in return the Company receives a royalty fee. The Company recognizes revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property when the subsequent sale or usage occurs.
The Company offers certain customers cash discounts and volume rebates as sales incentives. The discounts and volume rebates are recorded as a reduction in sales at the time revenue is recognized in an amount estimated based on historical experience and contractual obligations. The Company periodically reviews the assumptions underlying its estimates of discounts and volume rebates and adjusts its revenues accordingly.
In addition, the Company offers free product rebates to certain customers. The Company utilizes an adjusted market approach to estimate the stand-alone selling price of the loyalty program and allocates a portion of the consideration received to the free product offering. The free product offering is redeemable upon future purchases of the Company’s products. The amount associated with free product rebates is recorded as deferred revenue on the balance sheet and is recognized as revenue when the free product is redeemed or when the likelihood of redemption is remote. The Company has deemed that the amount is immaterial for disclosure.
The Company provides for the estimated costs of fulfilling its obligations under product warranties at the time the related revenue is recognized. The Company estimates the costs based on historical failure rates, projected repair costs, and knowledge of specific product failures (if any). The specific warranty terms and conditions vary depending upon the product sold and the country in which we do business, but generally include parts and labor over a period generally ranging from 90 days to one year. The Company regularly reevaluates its estimates to assess the adequacy of the recorded warranty liabilities and adjusts the amounts as necessary.
The Company’s contracts are generally short-term in nature. Most contracts do not exceed twelve months. Payment terms vary by the type and location of the Company’s customers and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. Those customers that prepay are represented by the contract liabilities until the performance obligations are satisfied.
Engineering, Research and Development Expenses
Engineering, Research and Development Expenses Engineering, research and development expenses are expensed as incurred.
Share-Based Compensation
Share-Based Compensation The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. Share-based compensation expense is recognized using the straight-line attribution method to recognize share-based compensation over the service period of the award, with adjustments recorded for forfeitures as they occur. Awards issued to employees who are retirement eligible or nearing retirement eligibility are expensed on an accelerated basis.
Government Grants Government Grants The Company entered into certain incentive arrangements with the state of Colorado and U.S. Department of Commerce. We account for funds we receive from government grants by either reducing the costs of the assets (if the grant relates to capital expenditures) or expenses which could be Cost of goods sold, Selling, general and administrative, and Research and development expenses in the consolidated statements of income. We recognize the incentives when there is reasonable assurance that we will comply with all conditions specified in the incentive arrangement and the incentive will be received.
Income Taxes
Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date.
The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. A valuation allowance is recorded to reduce deferred tax assets when it is more likely than not that the Company would not be able to realize all or part of its deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.
The Company’s policy for recording interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income before taxes. Penalties and interest to be paid or received are recorded in other expense (income), net, in the statement of operations.
Comprehensive Income
Comprehensive Income Comprehensive income represents the change in equity resulting from items other than shareholder investments and distributions. The Company’s foreign currency translation adjustments, unrealized gains and losses on available-for-sale investments, interest rate swap - cash flow hedge and minimum pension adjustments are included in accumulated other comprehensive loss. Comprehensive income and the components of accumulated other comprehensive loss are presented in the accompanying consolidated statements of comprehensive income and consolidated statements of equity.
Recent Accounting Pronouncements Adopted and Recent Accounting Pronouncements Yet to be Adopted
Recent Accounting Pronouncements Adopted
During the year ended December 31, 2025, the Company adopted Accounting Standards Update (ASU) 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The Company applied the guidance prospectively by providing the revised disclosures for the year ended December 31, 2025 and by providing the pre-ASU disclosures for the prior periods. These changes did not impact the Company’s consolidated financial results but provide additional information for users of the financial statements. See Note 16 to the consolidated financial statements for further details.
Recent Accounting Pronouncements Yet to be Adopted
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements. The amendments in this ASU are effective for our annual reporting periods beginning in fiscal year 2027 and interim reporting periods beginning in the first quarter of fiscal year 2028, with early adoption permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures.
The Company currently has no other material recent accounting pronouncements yet to be adopted.
v3.25.4
REVENUES (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Net Sales by Customer
The following table provides information about disaggregated net sales by customer category for the years ended December 31, 2025, 2024 and 2023:
(In millions)202520242023
Semiconductor:
Fabs$1,973.0 $1,965.6 $1,920.0 
Equipment and Engineering469.4 493.5 566.8 
Chemical and Materials320.1 327.5 355.2 
Semi Distributor/Other272.5 262.6 326.9 
Non-Semi161.6 192.0 355.0 
Total net sales$3,196.6 $3,241.2 $3,523.9 
Schedule of Contract Liabilities from Contract with Customers
The following table provides information about current contract liabilities from contracts with customers. The contract liabilities are included in other accrued liabilities balance in the consolidated balance sheet.
(In millions)20252024
Balance at beginning of year$41.7 $69.1 
Revenue recognized that was included in the contract liability balance at the beginning of the period(36.6)(65.1)
Increases due to cash received, excluding amounts recognized as revenue during the period44.8 37.7 
Balance at end of year$49.9 $41.7 
v3.25.4
TRADE ACCOUNTS AND NOTES RECEIVABLE (Tables)
 12 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Trade Accounts and Notes Receivable
Trade accounts and notes receivable from customers at December 31, 2025 and 2024 consist of the following:
(In millions)20252024
Trade accounts receivable$462.5 $497.3 
Notes receivable1.0 1.1 
Total trade accounts and notes receivable463.5 498.4 
Less allowance for credit losses4.8 3.1 
Trade accounts and notes receivable, net$458.7 $495.3 
v3.25.4
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories at December 31, 2025 and 2024 consist of the following:
(In millions)20252024
Raw materials$240.0 $231.0 
Work-in-process55.4 59.6 
Finished goods (1)
347.8 347.5 
Inventories, net$643.2 $638.1 
(1) Includes consignment inventories held by customers of $25.1 million and $24.0 million at December 31, 2025 and 2024, respectively.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment at December 31, 2025 and 2024 consists of the following:
(In millions)20252024Estimated
useful lives in
years
Land$79.9 $47.2 
Buildings and improvements1,041.0 849.8 
5-35
Manufacturing equipment877.5 799.6 
5-10
Canisters and cylinders218.5 204.0 
3-12
Molds90.4 85.4 
3-5
Office furniture and lab equipment372.1 338.2 
3-8
Construction in progress175.9 356.1 
Total property, plant and equipment2,855.3 2,680.3 
Less accumulated depreciation1,219.2 1,057.4 
Property, plant and equipment, net$1,636.1 $1,622.9 

The table below sets forth the depreciation expense for the years ended December 31, 2025, 2024 and 2023:

(In millions)202520242023
Depreciation expense$205.3 $188.1 $172.7 
v3.25.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill activity for each of the Company’s reportable segments, Materials Solutions (“MS”) and Advanced Purity Solutions (“APS”), for the years ended December 31, 2025 and 2024 is shown below:
(In millions)MSAPSTotal
December 31, 2023$3,631.4 $314.5 $3,945.9 
Foreign currency translation(0.1)(2.2)(2.3)
December 31, 2024$3,631.3 $312.3 $3,943.6 
Foreign currency translation— 3.1 3.1 
December 31, 2025$3,631.3 $315.4 $3,946.7 
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
Identifiable intangible assets at December 31, 2025 and 2024 consist of the following:
2025
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,264.5 $747.3 $517.2 7.2
Trademarks and trade names172.1 59.7 112.4 14.0
Customer relationships630.8 354.5 276.3 14.0
Other25.5 24.5 1.0 5.1
$2,092.9 $1,186.0 $906.9 9.8
2024
(In millions)Gross carrying
amount		Accumulated
amortization		Net carrying
value		Weighted
average life in
years
Developed technology$1,256.7 $601.7 $655.0 7.2
Trademarks and trade names172.0 48.8 123.2 14.0
Customer relationships630.5 326.5 304.0 14.0
In-process research and development (1)
6.6 — 6.6 
Other25.5 22.6 2.9 5.1
$2,091.3 $999.6 $1,091.7 9.7
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets. All in-process research and development assets that were open as of December 31, 2024 were completed and reclassified to developed technology and began amortizing in 2025.
Schedule of Estimated Future Amortization Expense
The table below sets forth the amortization expense for finite-lived intangible assets for the years ended December 31, 2025, 2024, and 2023:
(In millions)202520242023
Amortization expense$184.4 $190.1 $214.5 
The amortization expense for each of the five succeeding years and thereafter relating to finite-lived intangible assets currently recorded in the Company’s consolidated balance sheets is estimated to be the following at December 31, 2025:
(In millions)20262027202820292030ThereafterTotal
Future amortization expense$183.6 179.9 177.4 111.7 39.4 214.9 $906.9 
v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The Company’s debt at December 31, 2025 and 2024 consists of the following:

(In millions)20252024
Senior secured term loan due 2029 at 4.88% (1)
$450.0 $750.0 
Senior secured notes due 2029 at 4.75%
1,600.0 1,600.0 
Senior unsecured notes due 2030 at 5.95%
895.0 895.0 
Senior unsecured notes due 2029 at 3.625%
400.0 400.0 
Senior unsecured notes due 2028 at 4.375%
400.0 400.0 
Revolving facility due 2027 (2)
— — 
Total debt (par value)$3,745.0 $4,045.0 
Unamortized discount and debt issuance costs(47.4)(63.9)
Total long-term debt, net$3,697.6 $3,981.1 
(1) Our senior secured term loan due 2029 bears interest rate at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an applicable margin of 0.75%.
(2) Our senior secured revolving credit facility due 2027 (the “Revolving Facility”) bears interest at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an appliable margin of 0.75%. The Revolving Facility has commitments of $575.0 million. There were no borrowing outstanding under the Revolving Facility as of December 31, 2025 and December 31, 2024.
Schedule of Maturities of Long-term Debt
Annual maturities of long-term debt, excluding unamortized discount and issuance costs, due as of December 31, 2025 are as follows:
(In thousands)20262027202820292030ThereafterTotal
Long-term debt obligation maturities*— — 400.0 2,450 895 — $3,745.0 
* Senior secured term loans B subject to Excess Cash Flow payments to the lenders.
v3.25.4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements, Recurring and Nonrecurring
The following table presents financial instruments that we measure at fair value on a recurring basis. See Note 9 to our consolidated financial statements for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value.
Fair Value Measurements at Reporting Date Using
(In thousands)Level 1Level 2Level 3Total
Assets:20252024202520242025202420252024
Cash and cash equivalents$360.4 $329.2 $— $— $— $— $360.4 $329.2 
Derivative financial instruments - interest rate swap - cash flow hedge— — — 7.1 — — — 7.1 
Total Assets$360.4 $329.2 $— $7.1 $— $— $360.4 $336.3 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The estimated fair value and carrying value of our debt as of December 31, 2025 and 2024 were as follows:
December 31, 2025December 31, 2024
(In thousands)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$3,697.6 $3,738.0 $3,981.1 $3,909.3 
v3.25.4
DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Open Forward Foreign Currency Contract
The notional amounts of our derivative instruments are as follows:
(In thousands)
Derivatives designated as hedging instruments:December 31, 2025December 31, 2024
Interest rate swap contract - cash flow hedge$— $750.0 
Schedule of Fair Value, by Balance Sheet Grouping
The fair values of our derivative instruments included in the consolidated balance sheets are as follows:
(In thousands)
Consolidated Balance Sheet LocationDerivative Assets
Derivatives designated as hedging instruments: Interest rate swap contract - cash flow hedgeDecember 31, 2025December 31, 2024
Other current assets$— $7.1 
Schedule of Other Operating Cost and Expense, by Component
The following table summarizes the effects of our derivative instruments on our consolidated statements of operations for the years ended December 31, 2025, 2024 and 2023:
(In thousands)
Consolidated Statements of Operations Location
Gain recognized in Consolidated Statements of Income
Derivatives designated as hedging instruments:202520242023
Interest rate swap contract - cash flow hedgeInterest expense$(7.9)$(27.0)$(37.2)
Derivatives not designated as hedging instruments:202520242023
Foreign exchange contractsOther expense, net$— $— $(0.4)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the effects of our derivative instruments on Accumulated other comprehensive loss for the years ended December 31, 2025, 2024 and 2023:
Loss recognized in Accumulated other comprehensive loss
(In thousands)202520242023
Derivatives designated as hedging instruments:
Interest rate swap contract - cash flow hedge$(5.5)$(13.1)$(17.4)
v3.25.4
OTHER EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Expense Net
The table below sets forth the Other expense, net for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Infineum termination fee, net$— $— $(10.9)
Patent infringement settlement gain, net— (20.0)— 
Loss on foreign currency remeasurement7.1 7.7 5.7 
Loss on extinguishment of debt and modification3.2 14.3 29.9 
Other, net(0.9)2.0 0.7 
Other expense, net$9.4 $4.0 $25.4 
v3.25.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Leases Balance Sheet
As of December 31, 2025 and 2024, the Company’s operating and financing lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheets as follows, together with certain supplemental balance sheet information:
(In thousands)
Classification20252024
Assets
Right-of-use assets:
    Operating leaseRight-of-use assets90.2 62.5 
    Finance leaseRight-of-use assets18.5 20.9 
    Total right-of-use assets$108.7 $83.4 
Liabilities
Short-term lease liability:
   Operating leaseOther accrued liabilities13.8 13.8 
   Finance leaseOther accrued liabilities2.0 1.9 
Total short-term lease liability$15.8 $15.7 
Long-term lease liability:
    Operating leasesLong-term lease liability81.6 53.7 
    Finance leasesLong-term lease liability17.0 18.4 
Total long-term lease liability$98.6 $72.1 
Total lease liabilities$114.4 $87.8 
Lease Term and Discount Rate
Weighted average remaining lease term (years) - Operating leases9.97.8
Weighted average remaining lease term (years) - Finance leases12.913.4
Weighted average discount rate - Operating leases5.2 %4.5 %
Weighted average discount rate - Finance leases5.2 %5.1 %
Schedule of Lease Cost
Expense for leases less than 12 months for the year ended December 31, 2025, 2024 and 2023 were not material. The components of lease expense for the year ended December 31, 2025, 2024 and 2023 are as follows:

(In thousands)
202520242023
Operating lease cost$18.5 $17.9 $18.1 
Finance lease cost:
    Amortization of ROU assets2.7 2.2 1.8 
    Interest on lease liabilities1.0 1.1 0.8 
Schedule of Leases Cash Flow Information
The Company combines the amortization of the right-of-use assets and the change in the operating lease liability in the same line item in the Statement of Cash Flows. Other information related to the Company’s operating leases for the year ended December 31, 2025, 2024 and 2023 are as follows:
(In thousands)
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows - Operating leases$18.4 $18.9 $18.5 
    Cash flows - Finance leases2.4 2.7 2.2 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$46.0 $22.3 $6.2 
Finance leases1.8 1.5 8.8 
Schedule of Lessee Maturity Liability
Future minimum lease payments for noncancellable leases as of December 31, 2025, were as follows:

(In thousands)Operating leasesFinance leases
One year$18.9 $2.7 
Two years17.5 2.7 
Three years13.2 2.7 
Four years9.5 2.0 
Five years7.4 1.9 
Beyond five years58.8 14.0 
Total minimum lease payments$125.3 $26.0 
Less: Interest(29.9)7.0 
Present value of lease liabilities$95.4 $19.0 
v3.25.4
ASSET RETIREMENT OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation [Abstract]  
Schedule of Asset Retirement Obligations
Changes in the carrying amounts of the Company’s AROs for the years ended December 31, 2025 and 2024 are shown below:
(In millions)20252024
Balance at beginning of year$22.4 $21.7 
Liabilities settled(0.3)(0.6)
Liabilities incurred3.0 2.3 
Accretion expense— 0.2 
Revision of estimate7.4 (1.2)
Balance at end of year$32.5 $22.4 
v3.25.4
RESTRUCTURING COSTS (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
The charges related to these restructuring activities were recognized in the consolidated statements of operations for the year ended December 31, 2025 as follows:
2025
(In millions)Employee Termination BenefitsAsset Impairment ChargesContract exit costsTotal
Cost of sales$4.3 $— $— $4.3 
Selling, general and administrative6.1 11.7 4.0 21.8 
Engineering, research and development3.6 — — 3.6 
Total$14.0 $11.7 $4.0 $29.7 

Restructuring charges by reportable segment as well as unallocated corporate level charges for the year ended December 31, 2025 as follows:
2025
(In millions)Employee Termination BenefitsAsset Impairment ChargesContract exit costsTotal
MS$4.7 $— $— $4.7 
APS8.3 11.7 4.0 24.0 
Unallocated corporate1.0 — — 1.0 
Total$14.0 $11.7 $4.0 $29.7 
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes
Income before income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023 was derived from the following sources:

(In millions)202520242023
Domestic$(286.0)$(239.8)$(457.9)
Foreign540.6 561.8 630.6 
Income before income tax expense (benefit)$254.6 $322.0 $172.7 
Schedule of Components of Income Tax Expense
Income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023 is summarized as follows:
(In millions)202520242023
Current:
Federal$1.7 $14.8 $10.8 
State1.0 0.9 1.3 
Foreign102.7 91.5 125.1 
$105.4 $107.2 $137.2 
Deferred (net of valuation allowance):
Federal$(79.1)$(74.0)$(135.4)
State(3.6)(3.2)(5.8)
Foreign(4.7)(1.7)(4.4)
$(87.4)$(78.9)$(145.6)
Income tax expense (benefit)$18.0 $28.3 $(8.4)
Schedule of Reconciliation of Income Tax Expense with Expected Amounts Based Upon Statutory Federal Tax Rates
Income tax expense differs from the expected amounts based upon the statutory federal tax rates for the year ended December 31, 2025 as follows:
(In millions)2025
U.S Federal Statutory Tax Rate$53.5 21.0 %
State income taxes before valuation allowance, net of federal tax effect (A)(3.6)(1.4)%
Effect of foreign source income:
Japan
     Statutory tax rate difference between Japan and United States6.2 2.4 %
     Other(2.0)(0.8)%
Taiwan
     Withholding tax4.4 1.7 %
     Foreign tax credit(4.2)(1.6)%
     Other0.1 0.1 %
Singapore
     Statutory tax rate difference between Singapore and United States(42.4)(16.6)%
     Non-deductible expenses17.1 6.7 %
     Withholding tax5.0 2.0 %
     Foreign tax credit(22.4)(8.8)%
     Other(0.4)(0.2)%
Other foreign jurisdictions6.6 2.6 %
Effect of Changes in Tax Laws or Rates Enacted in the Current Period
Effect of Cross-Border Tax Laws
   Global intangible low-taxed income10.9 4.3 %
   Foreign derived intangible income(4.8)(1.9)%
   Subpart F income inclusions2.9 1.1 %
   Other0.8 0.3 %
Tax Credits
   Research & development tax credits(17.3)(6.8)%
Changes in Valuation Allowances— — %
Nontaxable or Nondeductible Items
   Share-based payment awards6.9 2.7 %
   Executive compensation2.5 1.0 %
   Other1.6 0.6 %
Changes in Unrecognized Tax Benefits(3.8)(1.5)%
Other Adjustments
   Legal entity divestiture activity— — %
   Other Items0.4 0.2 %
Effective Tax Rate$18.0 7.1 %
(A) State taxes in California, Illinois and Oregon made up the majority (greater than 50%) of the tax effects in this category
Income tax expense (benefit) differs from the expected amounts based upon the statutory federal tax rates for the years ended December 31, 2024 and 2023 as follows:
(In millions)20242023
Expected federal income tax at statutory rate$66.7 $36.3 
State income taxes before valuation allowance, net of federal tax effect(6.2)(9.4)
Effect of foreign source income(25.7)(18.4)
Tax contingencies(2.3)11.0 
Valuation allowance11.5 9.0 
U.S. federal research credit(14.3)(18.7)
Equity compensation5.4 7.4 
Foreign derived intangible income(7.9)(5.1)
Legal entity divestiture activity1.0 (20.3)
Other items, net0.1 (0.2)
Income tax expense (benefit) $28.3 $(8.4)
Schedule of Deferred Tax Assets and Deferred Tax Liabilities
The significant components of the Company’s deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 are as follows:
(In millions)20252024
Deferred tax assets attributable to:
Accounts receivable$0.5 $1.3 
Inventory12.7 11.9 
Accruals not currently deductible for tax purposes14.1 12.0 
Net operating loss and credit carryforwards108.5 69.5 
Capital loss carryforward7.5 7.5 
Equity compensation10.6 10.7 
Interest expense limitations52.2 51.4 
Capitalization of engineering, research and development expenses156.8 134.4 
Other, net8.2 6.3 
Gross deferred tax assets$371.1 $305.0 
Valuation allowance(79.1)(71.8)
Net deferred tax assets$292.0 $233.2 
Deferred tax liabilities attributable to:
Purchased intangible assets$(184.2)$(215.9)
Depreciation and amortization(18.7)(24.9)
Total deferred tax liabilities$(202.9)$(240.8)
Net deferred tax assets (liabilities)$89.1 $(7.6)
Schedule of Unrecognized Tax Benefits Roll Forward
Reconciliations of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2025 and 2024 are as follows:
(In millions)20252024
Gross unrecognized tax benefits at beginning of year$44.3 $67.7 
Increase in tax positions from prior years0.1 0.3 
Decrease in tax positions from prior years(5.6)(4.8)
Increases in tax positions for current year7.2 5.5 
Settlement of tax positions for current year(0.7)(21.6)
Lapse in statute of limitations(11.6)(2.8)
Gross unrecognized tax benefits at end of year$33.7 $44.3 
Schedule of Cash Flow, Supplemental Disclosures
The significant components of the Company’s income taxes paid (net of refunds) at December 31, 2025 are as follows:
(In millions)2025
Federal$0.1 
State(0.1)
Foreign113.0
Total$113.0 
Income taxes paid (net of refunds) exceeded 5 percent of total income taxes paid (net refunds) in the following jurisdictions:

(In millions)2025
Japan$19.7 
Korea6.2
Singapore58.4
Taiwan20.3
v3.25.4
EQUITY (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Stock Options
Stock option activity for the years ended December 31, 2025, 2024 and 2023 is summarized as follows:

 202520242023
(Shares in thousands)Number of
shares		Weighted
average
exercise
price		Number of
shares		Weighted
average
exercise
price		Number of
shares		Weighted
average
exercise
price
Options outstanding, beginning of year1.2 $84.51 1.3 $71.83 1.8 $62.59 
Granted0.3 83.70 0.2 140.62 0.2 81.79 
Exercised(0.2)42.57 (0.3)52.19 (0.7)51.04 
Options outstanding, end of year1.3 $89.66 1.2 $84.51 1.3 $71.83 
Options exercisable, end of year0.8 $84.92 0.8 $71.76 0.9 $63.08 
Schedule of Options Outstanding
Options outstanding under the Company’s stock plans at December 31, 2025 are summarized as follows:
(Shares in thousands)Options outstandingOptions exercisable
Range of exercise pricesNumber
outstanding		Weighted
average
remaining life
in years		Weighted-
average
exercise
price		Number
exercisable		Weighted
average
exercise
price
$0.00 to $70.30
0.3 1.9 years$56.73 0.3 $56.73 
$70.31 to $80.71
0.3 4.8 years79.57 0.2 79.61 
$80.72 to $98.11
0.4 4.5 years90.93 0.2 96.01 
$98.12 to $140.62
0.3 4.1 years134.68 0.1 131.44 
1.3 4.0 years$89.66 0.8 $84.92 
Schedule of Weighted Average Assumptions The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31, 2025, 2024 and 2023:
Employee stock options:202520242023
Volatility47.0 %47.6 %46.5 %
Risk-free interest rate3.9 %4.4 %3.7 %
Dividend yield0.5 %0.3 %0.5 %
Expected life (years)4.74.64.7
Weighted average fair value per option$35.70 $61.94 $34.40 
Schedule of Restricted Stock Activity A summary of the Company’s restricted stock unit activity for the years ended December 31, 2025, 2024 and 2023 is presented in the following table:
202520242023
(Shares in thousands)
Number
of
shares		Weighted
average
grant date
fair value		Number
of
shares		Weighted
average
grant date
fair value		Number
of
shares		Weighted
average
grant date
fair value
Unvested, beginning of year1.1 $111.81 1.0 $89.08 0.9 $90.37 
Granted0.7 85.11 0.5 138.44 0.6 80.45 
Vested(0.4)108.75 (0.3)86.92 (0.4)78.17 
Forfeited(0.1)104.55 (0.1)101.31 (0.1)89.23 
Unvested, end of year1.3 98.40 1.1 111.81 1.0 89.08 
Schedule of Allocation of Share Based Compensation Expense The following table summarizes the allocation of share-based compensation expense related to employee stock options, restricted stock awards, performance-based restricted stock awards and grants under the employee stock purchase plan for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Cost of sales$12.7 $11.1 $8.9 
Engineering, research and development expenses10.6 10.5 8.0 
Selling, general and administrative expenses46.0 44.3 44.5 
Share-based compensation expense$69.3 $65.9 $61.4 
Tax benefit13.6 13.0 12.5 
Share-based compensation expense, net of tax$55.7 $52.9 $48.9 
v3.25.4
BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Defined Benefit Plans Disclosures The Company uses a December 31 measurement date for its pension plans. A summary of these combined plans are:
(In thousands)20252024
Projected benefit obligation$9.0 $11.6 
Fair value of plan assets1.4 1.5 
Plan assets less benefit obligation - net amount recognized(7.6)(10.1)
Accumulated benefit obligation8.2 9.0 
Schedule of Expected Contribution and Benefit Payments The Company expects to make the following benefit payments:
(In thousands)Payments
2026$0.3 
20270.3 
20280.3 
20290.6 
20300.3 
Years 2031-2035
2.8 
v3.25.4
EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (EPS) The following table presents a reconciliation of the share amounts used in the computation of basic and diluted EPS:
(In thousands)202520242023
Basic—weighted average common shares outstanding151.7 150.9 149.9 
Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock0.5 0.9 1.0 
Diluted—weighted average common shares and common shares equivalent outstanding152.2 151.8 150.9 
Schedule of Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS
The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Shares excluded from calculations of diluted EPS0.9 0.5 0.7 
v3.25.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information for Reportable Segments
Summarized financial information for the Company’s reportable segments is shown in the following tables for the years ended December 31, 2025, 2024 and 2023:
2025
(In thousands)MSAPSInter-segmentTotal
Net sales$1,406.7 $1,799.1 $(9.2)$3,196.6 
Cost of sales790.8 995.1 (9.2)1,776.7 
Operating expenses339.3 377.6 — 716.9 
Segment profit$276.6 $426.4 $— $703.0 
2024
(In thousands)MSAPSInter-segmentTotal
Net sales$1,400.1 $1,850.2 $(9.1)$3,241.2 
Cost of sales769.2 994.4 (9.1)1,754.5 
Operating expenses344.7 359.7 — 704.4 
Segment profit$286.2 $496.1 $— $782.3 

2023
(In thousands)MSAPSInter-segmentTotal
Net sales$1,689.5 $1,846.6 $(12.2)$3,523.9 
Cost of sales1,060.6 977.9 (12.2)2,026.3 
Operating expenses332.5 337.3 — 669.8 
Segment profit$296.4 $531.4 $— $827.8 
Schedule of Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Total segment profit$703.0 $782.3 $827.8 
Less:
Amortization of intangibles184.4 190.1 214.5 
Unallocated general and administrative expenses62.7 58.3 114.1 
Operating income$455.9 $533.9 499.2 
Interest expense199.8 215.2 312.4 
Interest income(7.9)(7.3)(11.3)
Other expense, net9.4 4.0 25.4 
Income before income tax expense (benefit)$254.6 $322.0 $172.7 


The following tables summarize depreciation for the Company’s reportable segments for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Depreciation:
MS$89.8 $90.2 $95.4 
APS115.5 97.9 77.3 
Total depreciation $205.3 $188.1 $172.7 
Schedule of Revenue from External Customers, by Geographical Areas

In the following tables, revenue is disaggregated by country or region based on the ship to location of the customer for the years ended December 31, 2025, 2024 and 2023:
2025
(In thousands)MSAPSInter-segmentTotal
North America$270.3 $300.4 $(9.2)$561.5 
Taiwan279.1 456.8 — 735.9 
China268.1 389.6 — 657.7 
South Korea205.1 223.4 — 428.5 
Japan139.8 177.8 — 317.6 
Europe100.7 138.7 — 239.4 
Southeast Asia143.6 112.4 — 256.0 
$1,406.7 $1,799.1 $(9.2)$3,196.6 
2024
(In thousands)MSAPSInter-segmentTotal
North America$316.0 $364.7 $(9.1)$671.6 
Taiwan238.8 423.9 — 662.7 
China257.0 414.2 — 671.2 
South Korea202.6 216.2 — 418.8 
Japan128.5 180.9 — 309.4 
Europe115.8 159.7 — 275.5 
Southeast Asia141.4 90.6 — 232.0 
$1,400.1 $1,850.2 $(9.1)$3,241.2 
2023
(In thousands)MSAPSInter-segmentTotal
North America$540.4 $363.0 $(12.2)$891.2 
Taiwan232.0 358.7 — 590.7 
China197.0 369.9 — 566.9 
South Korea218.2 225.0 — 443.2 
Japan105.0 262.3 — 367.3 
Europe229.4 173.0 — 402.4 
Southeast Asia167.5 94.7 — 262.2 
$1,689.5 $1,846.6 $(12.2)$3,523.9 
Schedule of Property, Plant and Equipment Attributed to Significant Countries
The following table summarizes property, plant and equipment, net, attributed to significant country or region for the years ended December 31, 2025, 2024 and 2023:
(In thousands)202520242023
Property, plant and equipment, net:
North America$864.7 $876.8 $747.8 
Taiwan446.8 434.6 412.3 
South Korea134.3 117.7 101.1 
Japan116.7 114.8 118.9 
Malaysia41.9 44.3 50.2 
China27.8 30.4 32.9 
Other3.9 4.3 4.8 
$1,636.1 $1,622.9 $1,468.0 
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - segment
 12 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Product Information [Line Items]    
Number of reportable segments 2  
Building Improvements | Minimum    
Product Information [Line Items]    
Estimated useful lives in years 5 years  
Building Improvements | Minimum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   5 years
Building Improvements | Maximum    
Product Information [Line Items]    
Estimated useful lives in years 35 years  
Building Improvements | Maximum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   40 years
Manufacturing equipment | Minimum    
Product Information [Line Items]    
Estimated useful lives in years 5 years  
Manufacturing equipment | Minimum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   5 years
Manufacturing equipment | Maximum    
Product Information [Line Items]    
Estimated useful lives in years 10 years  
Manufacturing equipment | Maximum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   14 years
Canisters and cylinders | Minimum    
Product Information [Line Items]    
Estimated useful lives in years 3 years  
Canisters and cylinders | Minimum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   3 years
Canisters and cylinders | Maximum    
Product Information [Line Items]    
Estimated useful lives in years 12 years  
Canisters and cylinders | Maximum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   19 years
Molds | Minimum    
Product Information [Line Items]    
Estimated useful lives in years 3 years  
Molds | Minimum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   3 years
Molds | Maximum    
Product Information [Line Items]    
Estimated useful lives in years 5 years  
Molds | Maximum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   9 years
Office furniture and lab equipment | Minimum    
Product Information [Line Items]    
Estimated useful lives in years 3 years  
Office furniture and lab equipment | Minimum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   3 years
Office furniture and lab equipment | Maximum    
Product Information [Line Items]    
Estimated useful lives in years 8 years  
Office furniture and lab equipment | Maximum | Subsequent Event    
Product Information [Line Items]    
Estimated useful lives in years   9 years
v3.25.4
REVENUES - Schedule of Disaggregated Net Sales by Customer (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Total net sales $ 3,196.6 $ 3,241.2 $ 3,523.9
Fabs      
Disaggregation of Revenue [Line Items]      
Total net sales 1,973.0 1,965.6 1,920.0
Equipment and Engineering      
Disaggregation of Revenue [Line Items]      
Total net sales 469.4 493.5 566.8
Chemical and Materials      
Disaggregation of Revenue [Line Items]      
Total net sales 320.1 327.5 355.2
Semi Distributor/Other      
Disaggregation of Revenue [Line Items]      
Total net sales 272.5 262.6 326.9
Non-Semi      
Disaggregation of Revenue [Line Items]      
Total net sales $ 161.6 $ 192.0 $ 355.0
v3.25.4
REVENUES - Schedule of Contract Liabilities from Contract with Customers (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Movement in Contract with Customer Liability [Roll Forward]    
Balance at beginning of year $ 41.7 $ 69.1
Revenue recognized that was included in the contract liability balance at the beginning of the period (36.6) (65.1)
Increases due to cash received, excluding amounts recognized as revenue during the period 44.8 37.7
Balance at end of year $ 49.9 $ 41.7
v3.25.4
GOODWILL AND LONG-LIVED ASSET IMPAIRMENT (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill      
Goodwill impairment $ 0.0 $ 0.0 $ 115.2
Impairment on long-lived assets $ 11.7 $ 13.0 $ 30.5
v3.25.4
DIVESTITURES (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disposal [Line Items]        
Infineum termination fee, net   $ 0.0 $ 0.0 $ (10.9)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Other        
Disposal [Line Items]        
Infineum termination fee, net $ 6.7      
Loss on disposal $ 10.9      
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative expenses      
v3.25.4
TRADE ACCOUNTS AND NOTES RECEIVABLE (Detail) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]    
Trade accounts receivable $ 462.5 $ 497.3
Notes receivable 1.0 1.1
Total trade accounts and notes receivable 463.5 498.4
Less allowance for credit losses 4.8 3.1
Trade accounts and notes receivable, net $ 458.7 $ 495.3
v3.25.4
INVENTORIES (Detail) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 240.0 $ 231.0
Work-in-process 55.4 59.6
Finished goods 347.8 347.5
Inventories, net 643.2 638.1
Consignment inventory held by customers $ 25.1 $ 24.0
v3.25.4
PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Detail) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment      
Total property, plant and equipment $ 2,855.3 $ 2,680.3  
Less accumulated depreciation 1,219.2 1,057.4  
Property, plant and equipment, net 1,636.1 1,622.9 $ 1,468.0
Land      
Property, Plant and Equipment      
Total property, plant and equipment 79.9 47.2  
Buildings and improvements      
Property, Plant and Equipment      
Total property, plant and equipment 1,041.0 849.8  
Manufacturing equipment      
Property, Plant and Equipment      
Total property, plant and equipment 877.5 799.6  
Canisters and cylinders      
Property, Plant and Equipment      
Total property, plant and equipment 218.5 204.0  
Molds      
Property, Plant and Equipment      
Total property, plant and equipment 90.4 85.4  
Office furniture and lab equipment      
Property, Plant and Equipment      
Total property, plant and equipment 372.1 338.2  
Construction in progress      
Property, Plant and Equipment      
Total property, plant and equipment $ 175.9 $ 356.1  
Minimum | Buildings and improvements      
Property, Plant and Equipment      
Estimated useful lives in years 5 years    
Minimum | Manufacturing equipment      
Property, Plant and Equipment      
Estimated useful lives in years 5 years    
Minimum | Canisters and cylinders      
Property, Plant and Equipment      
Estimated useful lives in years 3 years    
Minimum | Molds      
Property, Plant and Equipment      
Estimated useful lives in years 3 years    
Minimum | Office furniture and lab equipment      
Property, Plant and Equipment      
Estimated useful lives in years 3 years    
Maximum | Buildings and improvements      
Property, Plant and Equipment      
Estimated useful lives in years 35 years    
Maximum | Manufacturing equipment      
Property, Plant and Equipment      
Estimated useful lives in years 10 years    
Maximum | Canisters and cylinders      
Property, Plant and Equipment      
Estimated useful lives in years 12 years    
Maximum | Molds      
Property, Plant and Equipment      
Estimated useful lives in years 5 years    
Maximum | Office furniture and lab equipment      
Property, Plant and Equipment      
Estimated useful lives in years 8 years    
v3.25.4
PROPERTY, PLANT AND EQUIPMENT - Schedule of Depreciation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation $ 205.3 $ 188.1 $ 172.7
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, Beginning Balance $ 3,943.6 $ 3,945.9
Foreign currency translation 3.1 (2.3)
Goodwill, Ending Balance 3,946.7 3,943.6
MS    
Goodwill [Roll Forward]    
Goodwill, Beginning Balance 3,631.3 3,631.4
Foreign currency translation 0.0 (0.1)
Goodwill, Ending Balance 3,631.3 3,631.3
APS    
Goodwill [Roll Forward]    
Goodwill, Beginning Balance 312.3 314.5
Foreign currency translation 3.1 (2.2)
Goodwill, Ending Balance $ 315.4 $ 312.3
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets    
Gross carrying amount $ 2,092.9 $ 2,091.3
Accumulated amortization 1,186.0 999.6
Net carrying value $ 906.9 $ 1,091.7
Weighted average life in years 9 years 9 months 18 days 9 years 8 months 12 days
Developed technology    
Finite-Lived Intangible Assets    
Gross carrying amount $ 1,264.5 $ 1,256.7
Accumulated amortization 747.3 601.7
Net carrying value $ 517.2 $ 655.0
Weighted average life in years 7 years 2 months 12 days 7 years 2 months 12 days
Trademarks and trade names    
Finite-Lived Intangible Assets    
Gross carrying amount $ 172.1 $ 172.0
Accumulated amortization 59.7 48.8
Net carrying value $ 112.4 $ 123.2
Weighted average life in years 14 years 14 years
Customer relationships    
Finite-Lived Intangible Assets    
Gross carrying amount $ 630.8 $ 630.5
Accumulated amortization 354.5 326.5
Net carrying value $ 276.3 $ 304.0
Weighted average life in years 14 years 14 years
Other    
Finite-Lived Intangible Assets    
Gross carrying amount $ 25.5 $ 25.5
Accumulated amortization 24.5 22.6
Net carrying value $ 1.0 $ 2.9
Weighted average life in years 5 years 1 month 6 days 5 years 1 month 6 days
In Process Research and Development    
Finite-Lived Intangible Assets    
Gross carrying amount   $ 6.6
Accumulated amortization   0.0
Net carrying value   $ 6.6
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization of intangible assets $ 184.4 $ 190.1 $ 214.5
v3.25.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Future Amortization Expense (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 183.6  
2027 179.9  
2028 177.4  
2029 111.7  
2030 39.4  
Thereafter 214.9  
Net carrying value $ 906.9 $ 1,091.7
v3.25.4
DEBT - Schedule of Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument    
Total debt (par value) $ 3,745.0 $ 4,045.0
Unamortized discount and debt issuance costs (47.4) (63.9)
Total long-term debt, net $ 3,697.6 3,981.1
Senior secured term loan due 2029 at 4.88%    
Debt Instrument    
Debt instrument, interest rate, stated percentage 4.88%  
Total debt (par value) $ 450.0 750.0
Senior secured term loan due 2029 at 4.88% | Secured Overnight Financing Rate (SOFR)    
Debt Instrument    
Debt instrument, basis spread on variable rate 1.75%  
Senior secured term loan due 2029 at 4.88% | Base Rate    
Debt Instrument    
Debt instrument, basis spread on variable rate 0.75%  
Senior secured notes due 2029 at 4.75%    
Debt Instrument    
Debt instrument, interest rate, stated percentage 4.75%  
Total debt (par value) $ 1,600.0 1,600.0
Senior unsecured notes due 2030 at 5.95%    
Debt Instrument    
Debt instrument, interest rate, stated percentage 5.95%  
Total debt (par value) $ 895.0 895.0
Senior unsecured notes due 2029 at 3.625%    
Debt Instrument    
Debt instrument, interest rate, stated percentage 3.625%  
Total debt (par value) $ 400.0 400.0
Senior unsecured notes due 2028 at 4.375%    
Debt Instrument    
Debt instrument, interest rate, stated percentage 4.375%  
Total debt (par value) $ 400.0 400.0
Revolving facility due 2027    
Debt Instrument    
Revolving facility due 2027 0.0 $ 0.0
Line of credit facility, maximum borrowing capacity $ 575.0  
Revolving facility due 2027 | Secured Overnight Financing Rate (SOFR)    
Debt Instrument    
Debt instrument, basis spread on variable rate 1.75%  
Revolving facility due 2027 | Base Rate    
Debt Instrument    
Debt instrument, basis spread on variable rate 0.75%  
v3.25.4
DEBT - Schedule of Annual Maturities of Long-term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
2026 $ 0.0  
2027 0.0  
2028 400.0  
2029 2,450.0  
2030 895.0  
Thereafter 0.0  
Total $ 3,745.0 $ 4,045.0
v3.25.4
DEBT - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Prepayment $ 300.0    
Loss on extinguishment of debt $ 3.2 $ 13.4 $ 27.9
v3.25.4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents $ 360.4 $ 329.2
Derivative financial instruments - interest rate swap - cash flow hedge 0.0 7.1
Total Assets 360.4 336.3
Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total debt, net 3,697.6 3,981.1
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total debt, net 3,738.0 3,909.3
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 360.4 329.2
Derivative financial instruments - interest rate swap - cash flow hedge 0.0 0.0
Total Assets 360.4 329.2
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 0.0 0.0
Derivative financial instruments - interest rate swap - cash flow hedge 0.0 7.1
Total Assets 0.0 7.1
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 0.0 0.0
Derivative financial instruments - interest rate swap - cash flow hedge 0.0 0.0
Total Assets $ 0.0 $ 0.0
v3.25.4
DERIVATIVE INSTRUMENTS - Schedule of National Amounts of Derivative Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Interest rate swap contract - cash flow hedge    
Derivative [Line Items]    
Interest rate swap contract - cash flow hedge $ 0.0 $ 750.0
v3.25.4
DERIVATIVE INSTRUMENTS - Schedule of Derivative Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Derivative Assets $ 0.0 $ 7.1  
Loss recognized in Accumulated other comprehensive loss (5.5) (13.1) $ (17.4)
Interest rate swap contract - cash flow hedge | Derivatives designated as hedging instruments:      
Derivative [Line Items]      
Derivative Assets 0.0 $ 7.1  
Derivative Asset, Statement of Financial Position [Extensible Enumeration]   Other current assets  
Interest rate swap contract - cash flow hedge | Derivatives designated as hedging instruments: | Interest Expense      
Derivative [Line Items]      
Gain recognized in Consolidated Statements of Income (7.9) $ (27.0) (37.2)
Foreign exchange contracts | Derivatives not designated as hedging instruments: | Interest Expense      
Derivative [Line Items]      
Gain recognized in Consolidated Statements of Income $ 0.0 $ 0.0 $ (0.4)
v3.25.4
OTHER EXPENSE, NET - Schedule of Other Expense Net (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]        
Infineum termination fee, net   $ 0.0 $ 0.0 $ (10.9)
Patent infringement settlement gain, net $ (20.0) 0.0 (20.0) 0.0
Loss on foreign currency remeasurement   7.1 7.7 5.7
Loss on extinguishment of debt and modification   3.2 14.3 29.9
Other, net   (0.9) 2.0 0.7
Other expense, net   $ 9.4 $ 4.0 $ 25.4
v3.25.4
OTHER EXPENSE, NET - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Apr. 01, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]          
Patent infringement settlement gain, net $ 20.0   $ 0.0 $ 20.0 $ 0.0
Infineum termination Fee   $ 12.0      
Transaction advisor fee   $ 1.1      
v3.25.4
LEASES - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
Lessee, Lease, Description [Line Items]  
Lease renewal options, term 10 years
Option to terminate lease, period 1 year
Minimum  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Lease term 29 years
v3.25.4
LEASES - Schedule of Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Right-Of-Use Asset [Abstract]    
Operating lease $ 90.2 $ 62.5
Finance lease 18.5 20.9
Total right-of-use assets 108.7 83.4
Short-term lease liability:    
Operating lease $ 13.8 $ 13.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued liabilities Other accrued liabilities
Finance lease $ 2.0 $ 1.9
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued liabilities Other accrued liabilities
Total short-term lease liability $ 15.8 $ 15.7
Long-term lease liability:    
Operating leases 81.6 53.7
Finance leases 17.0 18.4
Total long-term lease liability 98.6 72.1
Total lease liabilities $ 114.4 $ 87.8
Lease Term and Discount Rate    
Weighted average remaining lease term (years) - Operating leases 9 years 10 months 24 days 7 years 9 months 18 days
Weighted average remaining lease term (years) - Finance leases 12 years 10 months 24 days 13 years 4 months 24 days
Weighted average discount rate - Operating leases 5.20% 4.50%
Weighted average discount rate - Finance leases 5.20% 5.10%
v3.25.4
LEASES - Schedule of Lease Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 18.5 $ 17.9 $ 18.1
Finance lease cost:      
Amortization of ROU assets 2.7 2.2 1.8
Interest on lease liabilities $ 1.0 $ 1.1 $ 0.8
v3.25.4
LEASES - Schedule of Leases Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:      
Cash flows - Operating leases $ 18.4 $ 18.9 $ 18.5
Cash flows - Finance leases 2.4 2.7 2.2
Right-of-use assets obtained in exchange for lease obligations:      
Operating leases 46.0 22.3 6.2
Finance leases $ 1.8 $ 1.5 $ 8.8
v3.25.4
LEASES - Schedule of Future Minimum Lease Payments (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Operating leases  
One year $ 18.9
Two years 17.5
Three years 13.2
Four years 9.5
Five years 7.4
Beyond five years 58.8
Total minimum lease payments 125.3
Less: Interest (29.9)
Present value of lease liabilities 95.4
Finance leases  
One year 2.7
Two years 2.7
Three years 2.7
Four years 2.0
Five years 1.9
Beyond five years 14.0
Total minimum lease payments 26.0
Less: Interest 7.0
Present value of lease liabilities $ 19.0
v3.25.4
ASSET RETIREMENT OBLIGATIONS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]    
Balance at beginning of year $ 22.4 $ 21.7
Liabilities settled (0.3) (0.6)
Liabilities incurred 3.0 2.3
Accretion expense 0.0 0.2
Revision of estimate 7.4 (1.2)
Balance at end of year $ 32.5 $ 22.4
v3.25.4
RESTRUCTURING COSTS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits $ 14.0  
Asset Impairment Charges 11.7 $ 11.7
Contract exit costs 4.0 4.0
Total 29.7 29.7
Operating Segments | MS    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits 4.7  
Asset Impairment Charges   0.0
Contract exit costs   0.0
Total   4.7
Operating Segments | APS    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits 8.3  
Asset Impairment Charges   11.7
Contract exit costs   4.0
Total   24.0
Unallocated corporate    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits 1.0  
Asset Impairment Charges   0.0
Contract exit costs   0.0
Total   $ 1.0
Cost of sales    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits 4.3  
Asset Impairment Charges 0.0  
Contract exit costs 0.0  
Total $ 4.3  
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of sales  
Selling, general and administrative expenses    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits $ 6.1  
Asset Impairment Charges 11.7  
Contract exit costs 4.0  
Total $ 21.8  
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative expenses  
Engineering, research and development expenses    
Restructuring Cost and Reserve [Line Items]    
Employee Termination Benefits $ 3.6  
Asset Impairment Charges 0.0  
Contract exit costs 0.0  
Total $ 3.6  
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Engineering, research and development expenses  
v3.25.4
INCOME TAXES - Schedule of Income Before Income Taxes (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Domestic $ (286.0) $ (239.8) $ (457.9)
Foreign 540.6 561.8 630.6
Income before income tax expense (benefit) $ 254.6 $ 322.0 $ 172.7
v3.25.4
INCOME TAXES - Schedule of Components of Income Tax Expense (Benefit) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
Federal $ 1.7 $ 14.8 $ 10.8
State 1.0 0.9 1.3
Foreign 102.7 91.5 125.1
Current, Total 105.4 107.2 137.2
Deferred (net of valuation allowance):      
Federal (79.1) (74.0) (135.4)
State (3.6) (3.2) (5.8)
Foreign (4.7) (1.7) (4.4)
Deferred income tax provision (benefit) (87.4) (78.9) (145.6)
Income tax expense (benefit) $ 18.0 $ 28.3 $ (8.4)
v3.25.4
INCOME TAXES - Effective Income Tax Rate Reconciliation 2025 (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
U.S Federal Statutory Tax Rate $ 53.5 $ 66.7 $ 36.3
State income taxes before valuation allowance, net of federal tax effect (3.6) (6.2) (9.4)
Statutory tax rate difference between Japan and United States   (25.7) (18.4)
Other   0.1 (0.2)
Global intangible low-taxed income 10.9    
Foreign derived intangible income (4.8) (7.9) (5.1)
Subpart F income inclusions 2.9    
Other 0.8    
Research & development tax credits (17.3) (14.3) (18.7)
Valuation allowance 0.0 11.5 9.0
Share-based payment awards 6.9 5.4 7.4
Executive compensation 2.5    
Changes in Unrecognized Tax Benefits (3.8) (2.3) 11.0
Legal entity divestiture activity 0.0    
Income tax expense (benefit) $ 18.0 $ 28.3 $ (8.4)
Percent      
U.S Federal Statutory Tax Rate 21.00%    
State income taxes before valuation allowance, net of federal tax effect (1.40%)    
Global intangible low-taxed income 4.30%    
Foreign derived intangible income (1.90%)    
Subpart F income inclusions 1.10%    
Other 0.30%    
Research & development tax credits (6.80%)    
Changes in Valuation Allowances 0.00%    
Share-based payment awards 2.70%    
Executive compensation 0.010    
Changes in Unrecognized Tax Benefits (1.50%)    
Legal entity divestiture activity 0.00%    
Effective income tax rate 7.10%    
Japan      
Amount      
Statutory tax rate difference between Japan and United States $ 6.2    
Other $ (2.0)    
Percent      
Statutory tax rate difference between Japan and United States 2.40%    
Other (0.80%)    
Taiwan      
Amount      
Other $ 0.1    
Foreign tax credit (4.2)    
Share-based payment awards $ 4.4    
Percent      
Other 0.10%    
Foreign tax credit (1.60%)    
Share-based payment awards 1.70%    
Singapore      
Amount      
Statutory tax rate difference between Japan and United States $ (42.4)    
Other (0.4)    
Foreign tax credit (22.4)    
Share-based payment awards 5.0    
Other $ 17.1    
Percent      
Statutory tax rate difference between Japan and United States (16.60%)    
Other (0.20%)    
Foreign tax credit (8.80%)    
Share-based payment awards 2.00%    
Other 6.70%    
Other foreign jurisdictions      
Amount      
Statutory tax rate difference between Japan and United States $ 6.6    
Percent      
Statutory tax rate difference between Japan and United States 2.60%    
UNITED STATES      
Amount      
Other $ 0.4    
Other $ 1.6    
Percent      
Other 0.20%    
Other 0.60%    
v3.25.4
INCOME TAXES - Schedule of Reconciliation of Income Tax Expense with Expected Amounts Based Upon Statutory Federal Tax Rates 2024 and 2023 (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Expected federal income tax at statutory rate $ 53.5 $ 66.7 $ 36.3
State income taxes before valuation allowance, net of federal tax effect (3.6) (6.2) (9.4)
Effect of foreign source income   (25.7) (18.4)
Tax contingencies (3.8) (2.3) 11.0
Valuation allowance 0.0 11.5 9.0
U.S. federal research credit (17.3) (14.3) (18.7)
Equity compensation 6.9 5.4 7.4
Foreign derived intangible income (4.8) (7.9) (5.1)
Legal entity divestiture activity   1.0 (20.3)
Other items, net   0.1 (0.2)
Income tax expense (benefit) $ 18.0 $ 28.3 $ (8.4)
v3.25.4
INCOME TAXES - Narrative (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax [Line Items]      
Undistributed earnings of foreign subsidiaries $ 393.2    
Withholding tax 26.1    
Deferred tax assets, net 89.1    
Deferred tax liabilities, net   $ 7.6  
Valuation allowance 79.1 71.8  
Unrecognized tax benefits that would impact effective tax rate 28.4    
Unrecognized tax benefits, income tax penalties and interest accrued 5.1 6.0  
Unrecognized tax benefits, income tax penalties and interest expense 1.0 3.0 $ 2.5
Inland Revenue, Singapore (IRAS)      
Income Tax [Line Items]      
Income tax benefit estimate attributable to the tax status of subsidiary $ 26.1 $ 27.7 $ 19.7
Income tax expense benefit per diluted share $ 0.17 $ 0.18 $ 0.13
Additional effective tax rate benefit $ 16.1 $ 17.1 $ 12.1
UNITED STATES      
Income Tax [Line Items]      
Deferred tax assets, net 117.5    
Deferred tax liabilities, net   20.1  
Valuation allowance 40.8 36.5  
State and Local Jurisdiction      
Income Tax [Line Items]      
Deferred tax assets, operating loss carryforwards, state and local 30.5    
Foreign Tax Jurisdiction      
Income Tax [Line Items]      
Deferred tax assets, net 50.7 44.2  
Valuation allowance 38.3 $ 35.3  
Deferred tax assets, operating loss carryforwards, foreign $ 69.7    
v3.25.4
INCOME TAXES - Schedule of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets attributable to:    
Accounts receivable $ 0.5 $ 1.3
Inventory 12.7 11.9
Accruals not currently deductible for tax purposes 14.1 12.0
Net operating loss and credit carryforwards 108.5 69.5
Capital loss carryforward 7.5 7.5
Equity compensation 10.6 10.7
Interest expense limitations 52.2 51.4
Capitalization of engineering, research and development expenses 156.8 134.4
Other, net 8.2 6.3
Gross deferred tax assets 371.1 305.0
Valuation allowance (79.1) (71.8)
Net deferred tax assets 292.0 233.2
Deferred tax liabilities attributable to:    
Purchased intangible assets (184.2) (215.9)
Depreciation and amortization (18.7) (24.9)
Total deferred tax liabilities (202.9) (240.8)
Net deferred tax assets $ 89.1  
Net deferred tax (liabilities)   $ (7.6)
v3.25.4
INCOME TAXES - Schedule of Reconciliations of Total Amount of Gross Unrecognized Tax Benefits (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]    
Gross unrecognized tax benefits at beginning of year $ 44.3 $ 67.7
Increase in tax positions from prior years 0.1 0.3
Decrease in tax positions from prior years (5.6) (4.8)
Increases in tax positions for current year 7.2 5.5
Settlement of tax positions for current year (0.7) (21.6)
Lapse in statute of limitations (11.6) (2.8)
Gross unrecognized tax benefits at end of year $ 33.7 $ 44.3
v3.25.4
INCOME TAXES - Schedule of Income Tax Paid (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal $ 0.1    
State (0.1)    
Foreign 113.0    
Income Taxes Paid, Net, Total $ 113.0 $ 103.8 $ 138.9
v3.25.4
INCOME TAXES - Cash Paid for Income Taxes, Net of Refunds (Detail)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Income tax paid (net of refunds) $ 113.0
Japan  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Income tax paid (net of refunds) 19.7
South Korea  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Income tax paid (net of refunds) 6.2
Singapore  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Income tax paid (net of refunds) 58.4
Taiwan  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Income tax paid (net of refunds) $ 20.3
v3.25.4
EQUITY - Narrative (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Jan. 14, 2026
Dec. 31, 2025
Sep. 27, 2025
Jun. 28, 2025
Mar. 29, 2025
Dec. 31, 2024
Sep. 28, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jul. 01, 2023
Apr. 01, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Dividends declared per share (in dollars per share)   $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10        
Dividends declared                           $ 61.1 $ 60.7 $ 60.3  
Dividends declared per share (in dollars per share)                           $ 0.40 $ 0.40 $ 0.40  
Term of plan, in years                                 10 years
Shares available for future grants   8.7       9.7       10.2       8.7 9.7 10.2  
Weighted average remaining contractual term option outstanding                           4 years      
Weighted average remaining contractual term option exercisable                           2 years 10 months 24 days      
Total pre-tax intrinsic value of stock options exercised                           $ 7.1 $ 23.2    
Total pre-tax intrinsic value based on the closing stock price   $ 84.25                       $ 84.25      
Intrinsic value of stock options outstanding   $ 8.9                       $ 8.9      
Intrinsic value of stock options exercisable   8.0                       $ 8.0      
Granted (in shares)                           0.3 0.2 0.2  
Contractual term of stock options (in years)                           7 years      
Performance shares granted (in shares)                           0.3 0.1 0.2  
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition                           2 years 8 months 12 days      
Share based compensation modification amount                               $ 0.7  
Subsequent Event                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Dividends declared per share (in dollars per share) $ 0.10                                
Unvested Stock Options                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Total compensation cost not yet recognized   8.2                       $ 8.2      
Performance Stock                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Total compensation cost not yet recognized   7.2                       7.2      
Restricted Stock                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Total compensation cost not yet recognized   $ 70.4                       $ 70.4      
Employee Stock Purchase Plan                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Shares available for future grants   2.3                       2.3      
Stock plan offering period                           6 months      
Percentage of employee contribution from compensation                           10.00%      
Rate of discount from the fair market value                           15.00%      
Shares purchase by employees                           0.3 0.2 0.2  
Weighted-average price per share paid by the employees   $ 69.24       $ 89.59       $ 68.87       $ 69.24 $ 89.59 $ 68.87  
Maximum                                  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]                                  
Vesting period, in years                           4 years      
v3.25.4
EQUITY - Schedule of Option Activity (Detail) - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of shares      
Options outstanding, beginning of year (in shares) 1.2 1.3 1.8
Granted (in shares) 0.3 0.2 0.2
Exercised (in shares) (0.2) (0.3) (0.7)
Options outstanding, end of year (in shares) 1.3 1.2 1.3
Options exercisable, end of year (in shares) 0.8 0.8 0.9
Weighted average exercise price      
Options outstanding, beginning of year (in dollars per share) $ 84.51 $ 71.83 $ 62.59
Granted (in dollars per share) 83.70 140.62 81.79
Exercised (in dollars per share) 42.57 52.19 51.04
Options outstanding, end of year (in dollars per share) 89.66 84.51 71.83
Options exercisable, end of year (in dollars per share) $ 84.92 $ 71.76 $ 63.08
v3.25.4
EQUITY - Schedule of Options Outstanding (Detail)
shares in Millions
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range  
Number outstanding (in shares) | shares 1.3
Weighted average remaining life in years 4 years
Weighted- average exercise price (in dollars per share) $ 89.66
Number exercisable (in shares) | shares 0.8
Weighted average exercise price (in dollars per share) $ 84.92
$0.00 to $70.30  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range  
Range of exercise prices, minimum (in dollars per share) 0.00
Range of exercise prices, maximum (in dollars per share) $ 70.30
Number outstanding (in shares) | shares 0.3
Weighted average remaining life in years 1 year 10 months 24 days
Weighted- average exercise price (in dollars per share) $ 56.73
Number exercisable (in shares) | shares 0.3
Weighted average exercise price (in dollars per share) $ 56.73
$70.31 to $80.71  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range  
Range of exercise prices, minimum (in dollars per share) 70.31
Range of exercise prices, maximum (in dollars per share) $ 80.71
Number outstanding (in shares) | shares 0.3
Weighted average remaining life in years 4 years 9 months 18 days
Weighted- average exercise price (in dollars per share) $ 79.57
Number exercisable (in shares) | shares 0.2
Weighted average exercise price (in dollars per share) $ 79.61
$80.72 to $98.11  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range  
Range of exercise prices, minimum (in dollars per share) 80.72
Range of exercise prices, maximum (in dollars per share) $ 98.11
Number outstanding (in shares) | shares 0.4
Weighted average remaining life in years 4 years 6 months
Weighted- average exercise price (in dollars per share) $ 90.93
Number exercisable (in shares) | shares 0.2
Weighted average exercise price (in dollars per share) $ 96.01
$98.12 to $140.62  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range  
Range of exercise prices, minimum (in dollars per share) 98.12
Range of exercise prices, maximum (in dollars per share) $ 140.62
Number outstanding (in shares) | shares 0.3
Weighted average remaining life in years 4 years 1 month 6 days
Weighted- average exercise price (in dollars per share) $ 134.68
Number exercisable (in shares) | shares 0.1
Weighted average exercise price (in dollars per share) $ 131.44
v3.25.4
EQUITY - Schedule of Weighted Average Assumptions Used in Valuation (Detail) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity [Abstract]      
Volatility 47.00% 47.60% 46.50%
Risk-free interest rate 3.90% 4.40% 3.70%
Dividend yield 0.50% 0.30% 0.50%
Expected life (years) 4 years 8 months 12 days 4 years 7 months 6 days 4 years 8 months 12 days
Weighted average fair value per option (in dollars per share) $ 35.70 $ 61.94 $ 34.40
v3.25.4
EQUITY - Schedule of Restricted Stock Activity (Detail) - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of shares      
Unvested, beginning of year (in shares) 1.1 1.0 0.9
Granted (in shares) 0.7 0.5 0.6
Vested (in shares) (0.4) (0.3) (0.4)
Forfeited (in shares) (0.1) (0.1) (0.1)
Unvested, end of year (in shares) 1.3 1.1 1.0
Weighted average grant date fair value      
Unvested, beginning of year (in dollars per share) $ 111.81 $ 89.08 $ 90.37
Granted (in dollars per share) 85.11 138.44 80.45
Vested (in dollars per share) 108.75 86.92 78.17
Forfeited (in dollars per share) 104.55 101.31 89.23
Unvested, end of year (in dollars per share) $ 98.40 $ 111.81 $ 89.08
v3.25.4
EQUITY - Schedule of Allocation of Share Based Compensation Expense (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense $ 69.3 $ 65.9 $ 61.4
Tax benefit 13.6 13.0 12.5
Share-based compensation expense, net of tax 55.7 52.9 48.9
Cost of sales      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense 12.7 11.1 8.9
Engineering, research and development expenses      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense 10.6 10.5 8.0
Selling, general and administrative expenses      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense $ 46.0 $ 44.3 $ 44.5
v3.25.4
BENEFIT PLANS - Narrative (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2025
Defined Benefit Plan Disclosure [Line Items]        
Employer profit sharing and matching contribution expense $ 24.0 $ 24.6 $ 25.4  
Maximum matching contribution 6.00%      
Net periodic pension benefit cost $ 0.2 $ 0.6 $ 1.0  
Japan        
Defined Benefit Plan Disclosure [Line Items]        
Defined benefit plan converted to a defined contribution plan, percentage       50.00%
Defined benefit plan, percent that became frozen       50.00%
Benefit obligation, decrease $ 2.8      
v3.25.4
BENEFIT PLANS - Schedule of Defined Benefit Plans (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]    
Projected benefit obligation $ 9.0 $ 11.6
Fair value of plan assets 1.4 1.5
Plan assets less benefit obligation - net amount recognized (7.6) (10.1)
Accumulated benefit obligation $ 8.2 $ 9.0
v3.25.4
BENEFIT PLANS - Schedule of Expected Contribution and Benefit Payments (Detail)
$ in Millions
Dec. 31, 2025
USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
2026 $ 0.3
2027 0.3
2028 0.3
2029 0.6
2030 0.3
Years 2031-2035 $ 2.8
v3.25.4
EARNINGS PER COMMON SHARE - Schedule of Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (Detail) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Basic—weighted average common shares outstanding (in shares) 151.7 150.9 149.9
Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock (in shares) 0.5 0.9 1.0
Diluted—weighted average common shares and common shares equivalent outstanding (in shares) 152.2 151.8 150.9
v3.25.4
EARNINGS PER COMMON SHARE - Schedule of Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS (Detail) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Shares excluded from calculations of diluted EPS (in shares) 0.9 0.5 0.7
v3.25.4
SEGMENT INFORMATION - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Revenue, Major Customer [Line Items]      
Number of reportable segments | segment 2    
Number of operating segments | segment 2    
Net sales | $ $ 3,196.6 $ 3,241.2 $ 3,523.9
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | One Customer      
Revenue, Major Customer [Line Items]      
Net sales | $ $ 526.8 $ 508.0 $ 382.9
v3.25.4
SEGMENT INFORMATION - Schedule of Financial Information for Reportable Segments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Net sales $ 3,196.6 $ 3,241.2 $ 3,523.9
Cost of sales 1,776.7 1,754.5 2,026.3
Operating expenses 716.9 704.4 669.8
Segment profit 703.0 782.3 827.8
Inter-segment      
Segment Reporting Information      
Net sales (9.2) (9.1) (12.2)
Cost of sales (9.2) (9.1) (12.2)
Operating expenses 0.0 0.0 0.0
Segment profit 0.0 0.0 0.0
MS | Operating Segments      
Segment Reporting Information      
Net sales 1,406.7 1,400.1 1,689.5
Cost of sales 790.8 769.2 1,060.6
Operating expenses 339.3 344.7 332.5
Segment profit 276.6 286.2 296.4
APS | Operating Segments      
Segment Reporting Information      
Net sales 1,799.1 1,850.2 1,846.6
Cost of sales 995.1 994.4 977.9
Operating expenses 377.6 359.7 337.3
Segment profit $ 426.4 $ 496.1 $ 531.4
v3.25.4
SEGMENT INFORMATION - Schedule of Reconciliation of Total Segment Profit to Operating Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Total segment profit $ 703.0 $ 782.3 $ 827.8
Less:      
Amortization of intangibles 184.4 190.1 214.5
Unallocated general and administrative expenses 62.7 58.3 114.1
Operating income 455.9 533.9 499.2
Interest expense 199.8 215.2 312.4
Interest income (7.9) (7.3) (11.3)
Other expense, net 9.4 4.0 25.4
Income before income tax expense (benefit) 254.6 322.0 172.7
Total depreciation 205.3 188.1 172.7
MS      
Less:      
Total depreciation 89.8 90.2 95.4
APS      
Less:      
Total depreciation $ 115.5 $ 97.9 $ 77.3
v3.25.4
SEGMENT INFORMATION - Schedule of Financial Information by Reportable Segment and Geography (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Net sales $ 3,196.6 $ 3,241.2 $ 3,523.9
Inter-segment      
Segment Reporting Information      
Net sales (9.2) (9.1) (12.2)
MS | Operating Segments      
Segment Reporting Information      
Net sales 1,406.7 1,400.1 1,689.5
APS | Operating Segments      
Segment Reporting Information      
Net sales 1,799.1 1,850.2 1,846.6
North America      
Segment Reporting Information      
Net sales 561.5 671.6 891.2
North America | Inter-segment      
Segment Reporting Information      
Net sales (9.2) (9.1) (12.2)
North America | MS | Operating Segments      
Segment Reporting Information      
Net sales 270.3 316.0 540.4
North America | APS | Operating Segments      
Segment Reporting Information      
Net sales 300.4 364.7 363.0
Taiwan      
Segment Reporting Information      
Net sales 735.9 662.7 590.7
Taiwan | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
Taiwan | MS | Operating Segments      
Segment Reporting Information      
Net sales 279.1 238.8 232.0
Taiwan | APS | Operating Segments      
Segment Reporting Information      
Net sales 456.8 423.9 358.7
China      
Segment Reporting Information      
Net sales 657.7 671.2 566.9
China | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
China | MS | Operating Segments      
Segment Reporting Information      
Net sales 268.1 257.0 197.0
China | APS | Operating Segments      
Segment Reporting Information      
Net sales 389.6 414.2 369.9
South Korea      
Segment Reporting Information      
Net sales 428.5 418.8 443.2
South Korea | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
South Korea | MS | Operating Segments      
Segment Reporting Information      
Net sales 205.1 202.6 218.2
South Korea | APS | Operating Segments      
Segment Reporting Information      
Net sales 223.4 216.2 225.0
Japan      
Segment Reporting Information      
Net sales 317.6 309.4 367.3
Japan | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
Japan | MS | Operating Segments      
Segment Reporting Information      
Net sales 139.8 128.5 105.0
Japan | APS | Operating Segments      
Segment Reporting Information      
Net sales 177.8 180.9 262.3
Europe      
Segment Reporting Information      
Net sales 239.4 275.5 402.4
Europe | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
Europe | MS | Operating Segments      
Segment Reporting Information      
Net sales 100.7 115.8 229.4
Europe | APS | Operating Segments      
Segment Reporting Information      
Net sales 138.7 159.7 173.0
Southeast Asia      
Segment Reporting Information      
Net sales 256.0 232.0 262.2
Southeast Asia | Inter-segment      
Segment Reporting Information      
Net sales 0.0 0.0 0.0
Southeast Asia | MS | Operating Segments      
Segment Reporting Information      
Net sales 143.6 141.4 167.5
Southeast Asia | APS | Operating Segments      
Segment Reporting Information      
Net sales $ 112.4 $ 90.6 $ 94.7
v3.25.4
SEGMENT INFORMATION - Schedule of Property, Plant and Equipment Attributed to Significant Countries (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue, Major Customer [Line Items]      
Property, plant and equipment $ 1,636.1 $ 1,622.9 $ 1,468.0
North America      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 864.7 876.8 747.8
Taiwan      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 446.8 434.6 412.3
South Korea      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 134.3 117.7 101.1
Japan      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 116.7 114.8 118.9
Malaysia      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 41.9 44.3 50.2
China      
Revenue, Major Customer [Line Items]      
Property, plant and equipment 27.8 30.4 32.9
Other      
Revenue, Major Customer [Line Items]      
Property, plant and equipment $ 3.9 $ 4.3 $ 4.8
v3.25.4
GOVERNMENT INCENTIVES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 03, 2024
Government Assistance [Abstract]        
Capital-related grants       $ 77.0
Proceeds from government incentives $ 8.2 $ 0.0 $ 0.0  
Asset decrease noncurrent $ 31.0      
Government Assistance, Asset, Decrease, Noncurrent, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment