KNOWLES CORP, 10-K filed on 2/9/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Feb. 05, 2026
Jun. 30, 2025
Cover [Abstract]      
Title of 12(b) Security Common stock, $0.01 par value per share    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 90-1002689    
Entity Address, Address Line One 1151 Maplewood Drive,    
Document Annual Report true    
Entity Address, City or Town Itasca    
Entity Address, State or Province IL    
Entity Address, Postal Zip Code 60143    
Trading Symbol KN    
Security Exchange Name NYSE    
Document Transition Report false    
City Area Code 630    
Document Period End Date Dec. 31, 2025    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Current Fiscal Year End Date --12-31    
Local Phone Number 250-5100    
Entity File Number 001-36102    
Entity Registrant Name Knowles Corporation    
Entity Central Index Key 0001587523    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
Entity Public Float     $ 1,500,000,000
Entity Common Stock, Shares Outstanding   84,913,639  
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Document Type 10-K    
Amendment Flag false    
v3.25.4
Cover
 12 Months Ended
Dec. 31, 2025
Cover [Abstract]  
Entity Interactive Data Current Yes
Document Financial Statement Error Correction [Flag] false
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor [Line Items]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Chicago, Illinois
Auditor Firm ID 238
v3.25.4
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenues $ 593.2 $ 553.5 $ 456.8
Cost of goods sold 332.5 316.8 251.9
Other Asset Impairment Charges 3.6 0.0 0.0
Restructuring charges - cost of goods sold 0.8 1.9 1.1
Gross Profit, Total 256.3 234.8 203.8
Research and development expenses 40.2 39.5 32.4
Selling and administrative expenses 142.8 142.0 125.8
Restructuring charges 3.0 1.5 2.2
Operating expenses 186.0 183.0 160.4
Operating earnings 70.3 51.8 43.4
Interest expense, net 9.3 16.3 5.4
Investment Income, Dividend (6.2) 0.0 0.0
Other Nonoperating Income (Expense) 3.2 0.8 0.7
(Loss) earnings before income taxes 64.0 34.7 37.3
Provision for (benefit from) income taxes 13.1 11.3 (28.3)
Earnings from continuing operations 50.9 23.4 65.6
Earnings (loss) from discontinued operations, net (6.7) (261.2) 6.8
Net earnings (loss) $ 44.2 $ (237.8) $ 72.4
Earnings per share:      
Income (Loss) from Continuing Operations, Per Basic Share $ 0.59 $ 0.26 $ 0.72
Income (Loss) from Continuing Operations, Per Diluted Share 0.58 0.26 0.72
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share (0.08) (2.93) 0.08
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share (0.08) (2.90) 0.07
Earnings Per Share, Basic 0.51 (2.67) 0.80
Earnings Per Share, Diluted $ 0.50 $ (2.64) $ 0.79
Weighted-average common shares outstanding:      
Basic (in shares) [1] 86,400,000 88,900,000 90,900,000
Diluted (in shares) [1] 88,000,000.0 90,100,000 91,600,000
[1]
 Years Ended December 31,
 202520242023
Revenues$593.2 $553.5 $456.8 
Cost of goods sold332.5 316.8 251.9 
Impairment charges3.6 — — 
Restructuring charges - cost of goods sold0.8 1.9 1.1 
Gross profit256.3 234.8 203.8 
Research and development expenses40.2 39.5 32.4 
Selling and administrative expenses142.8 142.0 125.8 
Restructuring charges3.0 1.5 2.2 
Operating expenses186.0 183.0 160.4 
Operating earnings70.3 51.8 43.4 
Interest expense, net9.3 16.3 5.4 
Dividend income(6.2)— — 
Other expense, net3.2 0.8 0.7 
Earnings before income taxes and discontinued operations64.0 34.7 37.3 
Provision for (benefit from) income taxes13.1 11.3 (28.3)
Earnings from continuing operations50.9 23.4 65.6 
(Loss) earnings from discontinued operations, net(6.7)(261.2)6.8 
Net earnings (loss)$44.2 $(237.8)$72.4 
Earnings per share from continuing operations:
Basic$0.59 $0.26 $0.72 
Diluted$0.58 $0.26 $0.72 
(Loss) earnings per share from discontinued operations:
Basic$(0.08)$(2.93)$0.08 
Diluted$(0.08)$(2.90)$0.07 
Net earnings (loss) per share:
Basic$0.51 $(2.67)$0.80 
Diluted$0.50 $(2.64)$0.79 
Weighted-average common shares outstanding:
Basic86.4 88.9 90.9 
Diluted88.0 90.1 91.6 
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings (loss) $ 44.2 $ (237.8) $ 72.4
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 10.7 (2.8) (6.1)
Other comprehensive earnings (loss), net of tax      
Foreign currency translation, net of tax 10.7 (6.2) (6.1)
Employee benefit plans:      
Actuarial gains (losses) and prior service costs arising during period 0.4 (1.2) (0.4)
Amortization or settlement of actuarial losses and prior service costs 0.6 0.5 0.5
Net change in employee benefit plans 1.0 (0.7) 0.1
Changes in fair value of cash flow hedges:      
Unrealized net gains (losses) arising during period 1.8 (2.5) (3.9)
Net (gains) losses reclassified into earnings (0.1) 1.1 2.2
Total cash flow hedges 1.7 (1.4) (1.7)
Other comprehensive earnings (loss), net of tax 13.4 (8.3) (7.7)
Comprehensive earnings (loss) 57.6 (246.1) 64.7
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax $ 0.0 $ (3.4) $ 0.0
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 54.2 $ 130.1
Accounts Receivable, after Allowance for Credit Loss, Current 102.8 105.0
Inventories 124.6 118.0
Prepaid and other current assets 9.8 8.3
Total current assets 291.4 361.4
Property, plant, and equipment, net 140.2 130.1
Goodwill 270.3 269.8
Intangible assets, net 141.1 157.4
Operating Lease, Right-of-Use Asset 19.1 8.6
Investment, Affiliated Issuer, Noncontrolled 83.4 77.2
Other assets and deferred charges 105.6 113.7
Total assets 1,051.1 1,118.2
Current liabilities:    
Long-term Debt, Current Maturities 0.0 68.5
Accounts payable 42.9 58.5
Accrued compensation and employee benefits 29.7 29.4
Operating Lease, Liability, Current 4.1 3.9
Other accrued expenses 28.2 33.6
Federal and other taxes on income 1.0 3.7
Total current liabilities 105.9 197.6
Long-term debt 114.0 134.0
Deferred Income Tax Liabilities, Net 1.1 1.1
Operating Lease, Liability, Noncurrent 16.1 5.8
Other Liabilities, Noncurrent 38.2 23.7
Commitments and contingencies (Note 14)
Stockholders' equity:    
Preferred Stock, Value, Issued 0.0 0.0
Common Stock, Value, Issued 1.0 1.0
Treasury Stock, Common, Value (270.7) (205.2)
Additional paid-in capital 1,739.6 1,711.9
Accumulated deficit (569.4) (613.6)
Accumulated other comprehensive loss (124.7) (138.1)
Total stockholders' equity 775.8 756.0
Total liabilities and stockholders' equity $ 1,051.1 $ 1,118.2
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01  
Common stock, shares authorized (in shares) 400,000,000  
Common stock, shares issued (in shares) 99,651,892 98,551,188
Common Stock, Shares, Outstanding 84,887,498 87,358,659
Treasury Stock, Common, Shares 14,764,394 11,192,529
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Allowance for doubtful accounts receivable $ 0.0 $ 0.1 $ 0.2
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01  
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000  
Preferred stock, shares issued (in shares) 0 0  
Common stock, par value (in dollars per share) $ 0.01    
Common stock, shares authorized (in shares) 400,000,000    
Common stock, shares issued (in shares) 99,651,892 98,551,188  
Common Stock, Shares, Outstanding 84,887,498 87,358,659  
Treasury Stock, Common, Shares 14,764,394 11,192,529  
v3.25.4
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Amount
Treasury Stock, Common
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Treasury Stock, Common, Shares     (5,353,228)      
Common stock, shares issued (in shares)   96,431,604        
Balance at Dec. 31, 2022 $ 992.9 $ 1.0 $ (103.3) $ 1,665.5 $ (448.2) $ (122.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased During Period, Shares     (2,851,604)      
Stock Repurchased During Period, Value 47.5   $ 47.5      
Net earnings (loss) 72.4       72.4  
Other Comprehensive Income (Loss), Net of Tax (7.7)         (7.7)
Excise Tax on Repurchased Shares 0.4   0.4      
Exercise of convertible note hedges 29.0     29.0    
Stock Issued During Period, Shares, New Issues   195,170        
Exercise of stock options 1.6 $ 0.0   1.6    
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings   670,929        
Balance at Dec. 31, 2023 1,034.1 $ 1.0 $ (151.2) 1,689.9 (375.8) (129.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Restricted Stock, Value, Shares Issued Net of Tax Withholdings (6.2)     (6.2)    
Treasury Stock, Common, Shares     (8,204,832)      
Common stock, shares issued (in shares)   97,297,703        
Stock Repurchased During Period, Shares     (2,987,697)      
Stock Repurchased During Period, Value 53.7   $ 53.7      
Net earnings (loss) (237.8)       (237.8)  
Other Comprehensive Income (Loss), Net of Tax (8.3)         (8.3)
Excise Tax on Repurchased Shares 0.3   0.3      
Exercise of convertible note hedges 22.8     22.8    
Stock Issued During Period, Shares, New Issues   413,756        
Exercise of stock options 5.8 $ 0.0   5.8    
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings   839,729        
Balance at Dec. 31, 2024 756.0 $ 1.0 $ (205.2) 1,711.9 (613.6) (138.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Restricted Stock, Value, Shares Issued Net of Tax Withholdings $ (6.6)     (6.6)    
Treasury Stock, Common, Shares 11,192,529   (11,192,529)      
Common stock, shares issued (in shares) 98,551,188 98,551,188        
Stock Repurchased During Period, Shares     (3,571,865)      
Stock Repurchased During Period, Value $ 65.0   $ 65.0      
Net earnings (loss) 44.2       44.2  
Other Comprehensive Income (Loss), Net of Tax 13.4         13.4
Excise Tax on Repurchased Shares 0.5   0.5      
Exercise of convertible note hedges 28.4     28.4    
Stock Issued During Period, Shares, New Issues   414,746        
Exercise of stock options 6.7 $ 0.0   6.7    
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings   685,958        
Balance at Dec. 31, 2025 775.8 $ 1.0 $ (270.7) 1,739.6 $ (569.4) $ (124.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Restricted Stock, Value, Shares Issued Net of Tax Withholdings $ (7.4)     $ (7.4)    
Treasury Stock, Common, Shares 14,764,394   (14,764,394)      
Common stock, shares issued (in shares) 99,651,892 99,651,892        
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities        
Net earnings (loss) $ 44.2 $ (237.8) $ 72.4  
Adjustments to reconcile net earnings (loss) to cash from operating activities:        
Investment Income, Dividend (6.2) 0.0 0.0  
Other Asset Impairment Charges 3.6 0.0 0.0  
Goodwill, Impairment Loss 0.0 262.5 0.0  
Depreciation and amortization 36.3 50.3 46.5  
Stock-based compensation 28.4 22.8 29.0  
Deferred income taxes 8.9 9.5 (40.3)  
Non-cash interest expense and amortization of debt issuance costs 4.8 8.1 2.0  
Restructuring Costs 0.0 0.7 (1.8)  
Gain (Loss) on Disposition of Intangible Assets 0.0 7.2 0.0  
Gain (Loss) on Disposition of Business (2.8) 6.8 0.0  
Gain (Loss) on Disposition of Property Plant Equipment 0.1 (1.1) (10.0)  
Other, net 8.8 1.8 (0.9)  
Changes in assets and liabilities (excluding effects of foreign exchange):        
Receivables, net 1.1 4.0 12.7  
Inventories (5.1) 1.6 11.5  
Prepaid and other current assets (0.7) 1.4 (0.4)  
Accounts payable (18.0) 25.0 6.2  
Accrued compensation and employee benefits (0.2) 3.5 4.0  
Other accrued expenses (6.2) (3.0) (2.0)  
Accrued taxes (2.3) 1.6 (0.4)  
Other non-current assets and non-current liabilities 13.7 (6.8) (5.8)  
Net cash provided by operating activities 114.0 130.1 122.7  
Investing Activities        
Proceeds from CMM Sale Seller Loan Repayment 0.5 0.0 0.0  
Proceeds from Sales of Business, Affiliate and Productive Assets 0.0 58.0 0.0  
Payment to Finance CMM Sale Seller Loan 0.0 (6.4) 0.0  
Proceeds from Sale of Intangible Assets 0.0 7.2 0.0  
Acquisitions of business (net of cash acquired) 0.0 0.0 (136.9)  
Payments to Acquire Assets, Investing Activities 0.0 0.0 (0.3)  
Additions to property, plant, and equipment (32.1) (13.6) (16.9)  
Proceeds from the sale of property, plant, and equipment 0.0 0.0 12.5  
Payments for (Proceeds from) Investments (1.6) (0.5) (0.4)  
Proceeds from Sale of Short-term Investments 1.6 0.5 0.4  
Net cash (used in) provided by investing activities (31.6) 45.2 (141.6)  
Financing Activities        
Payments under revolving credit facility (55.0) (166.0) (35.0)  
Payments Under CD Seller Note (72.7) (50.0) 0.0  
Borrowings under revolving credit facility 35.0 140.0 150.0  
Payments for Repurchase of Common Stock (65.0) (53.7) (47.5)  
Payments of debt issuance costs 0.0 0.0 (2.2)  
Proceeds from Stock Options Exercised (6.7) (5.8) (1.6)  
Tax on restricted and performance stock unit vesting and stock option exercises 7.4 6.6 6.2  
Payments of finance lease obligations (0.5) (1.5) (2.5)  
Net cash (used in) provided by financing activities (158.9) (132.0) 58.2  
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 0.6 (0.5) (0.2)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (75.9) 42.8 39.1  
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations 54.2 130.1 87.3 $ 48.2
Supplemental information - cash paid during the year for:        
Income taxes 8.4 14.9 10.6  
Interest $ 8.3 $ 12.0 $ 5.4  
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies
1. Summary of Significant Accounting Policies

Background - Knowles Corporation (NYSE:KN) is a leading manufacturer of specialty electronic components. The Company designs parts that perform unique and critical functions for innovative technologies. Through extreme reliability, custom engineering, and scalable manufacturing, the Company enables businesses to succeed in the most demanding applications across medtech, defense, industrial, and electrification/energy markets. Knowles high performance capacitors, radio frequency ("RF") filters, advanced medtech microphones, and balanced armature speakers enhance the performance of customer products. The Company's focus on the customer, combined with unique technology, proprietary manufacturing techniques, and global operational expertise, enable the Company to deliver innovative solutions across multiple applications. References to "Knowles," "the Company," "we," "our," and "us" refer to Knowles Corporation and its consolidated subsidiaries.

On December 27, 2024, the Company completed the sale of the Consumer MEMS Microphones ("CMM") business to Syntiant Corp. See Note 2. Discontinued Operations for additional information related to this transaction. The Company has classified the results of CMM as discontinued operations for all periods presented.

On November 1, 2023, the Company completed the acquisition of Cornell Dubilier, a manufacturer of film, electrolytic, and mica capacitors used in medtech, military, and industrial electrification applications. See Note 3. Acquisition for additional information related to this transaction.

Financial Statement Presentation - The Consolidated Financial Statements included in this Annual Report on Form 10-K are presented in conformity with U.S. generally accepted accounting principles ("U.S. GAAP").

Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and disclosures. These estimates may be adjusted due to changes in future economic, industry, or customer financial conditions, as well as changes in technology or demand. Estimates are used in accounting for, among other items, inventory reserves, restructuring reserves, warranty reserves, pension and post-retirement plans, stock-based compensation, useful lives for depreciation and amortization of long-lived assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, deferred tax assets, uncertain income tax positions, changes in tax laws, and contingencies. Management uses historical experience and all available information to make these estimates. Actual results may ultimately differ from estimates, although management does not believe such differences would materially affect the financial statements in any individual year. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the Consolidated Financial Statements in the period that they are determined.

Corrections of Errors - During the year ended December 31, 2025, the Company identified an error in its historical financial results related to stock-based compensation expense for those individuals that are nearing or have reached retirement eligibility as defined by the equity compensation plan. This error resulted in the understatement of stock-based compensation expense for the years ended December 31, 2024, 2023, and 2022. During the year ended December 31, 2025, the Company corrected its stock-based compensation expense, which resulted in increases to Selling and administrative expenses of $0.9 million, Research and development expenses of $0.1 million, and Cost of goods sold of $0.1 million. This correction decreased Earnings before income taxes and discontinued operations and Earnings from continuing operations by $1.1 million and $1.0 million, respectively, for the year ended December 31, 2025.

In addition, during the year ended December 31, 2025, the Company identified an error in its historical financial results related to working capital adjustments and costs associated with the disposal of CMM in the fourth quarter of 2024. This error resulted in the overstatement of the gain on disposal of business reflected in Loss from discontinued operations, net during the year ended December 31, 2024. The Company corrected this error during the year ended December 31, 2025, resulting in an increase to Loss from discontinued operations, net of $1.3 million.

The Company evaluated the impact of these errors in accordance with Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections, and determined that they were not material to the consolidated financial statements for the current year or to any previously reported annual or interim periods.
Transactions with Syntiant - As partial consideration for the sale of CMM on December 27, 2024, the Company received Series D-2 preferred stock of Syntiant Corp. See Note 2. Discontinued Operations for additional information related to this transaction. The Company accounts for this investment using the cost method, measured at its historical cost, which was the fair value of the consideration received from Syntiant for the sale of CMM, plus any non-cash dividends earned. The balance of this investment was $83.4 million and $77.2 million as of December 31, 2025 and 2024, respectively, and is classified as "Investment in affiliate" on the Consolidated Balance Sheet. During the year ended December 31, 2025, the Company recorded a non-cash dividend on this investment in the form of additional Syntiant Series D-2 shares with a value of $6.2 million, which is reflected as "Dividend income" on the Consolidated Statement of Earnings.

In connection with the sale of CMM, the Company provided financing of $6.4 million to Syntiant, which was utilized to fund Syntiant's requirement to have $40.0 million of cash on its balance sheet at closing. This note is junior to Syntiant's debt financing and matures on March 28, 2029 and bears interest at the prime rate until six months after the closing date of the sale, at which time the interest rate increased to 13.0%. The balance of this note was $5.9 million and $6.4 million as of December 31, 2025 and 2024, respectively, and is classified within "Other assets and deferred charges" on the Consolidated Balance Sheet.

The Company shares in certain separation costs with Syntiant related to the sale of CMM pursuant to a credit of up to $13.5 million. Under the terms of the separation cost credit, the Company is required to reimburse Syntiant 100% for the first $7.0 million of separation costs incurred and 50% for those costs in excess of $7.0 million, up to the maximum established separation cost credit of $13.5 million. The balance of the separation cost credit was $4.8 million and $13.5 million at December 31, 2025 and 2024, respectively and is classified within "Other accrued expenses" on the Consolidated Balance Sheet. As the balance of the separation cost credit is now below the $7.0 million contractual threshold, future costs will be shared equally by the Company and Syntiant.

The Company leases portions of its facilities to Syntiant, for which lease payments to date of $2.8 million have been applied to the separation credit. The Company also subleases portions of its manufacturing facilities to Syntiant at cost. The portion of operating lease right-of-use assets subleased by Syntiant totaled $5.2 million and $0.3 million at December 31, 2025 and 2024, respectively.

The Company recognized revenue totaling $17.3 million during the year ended December 31, 2025 related to transactions with Syntiant. These revenues are reflected in the results of the MedTech & Specialty Audio segment. Receivables, net include $4.2 million and $1.8 million due from Syntiant at December 31, 2025 and 2024, respectively, related to these sales transactions and amounts related to the sale of CMM.

During the year ended December 31, 2025 the Company engaged with Syntiant to sell certain machinery and equipment associated with the MedTech & Specialty Audio segment for a nominal selling price. The Company recorded an impairment charge of $3.6 million for the year ended December 31, 2025 to write down the carrying value of these assets to fair value based on the selling price.

Cash and Cash Equivalents - Cash and cash equivalents include cash on hand, demand deposits, and temporary cash investments with original maturities less than three months.

Allowance for Doubtful Accounts – The Company maintains allowances for estimated losses as a result of customers' inability to make required payments. Management evaluates the aging of the accounts receivable balances, the financial condition of its customers, historical trends, and relevant forecasts to estimate the amount of accounts receivable that may not be collected in the future and records the appropriate provision.

Inventories – Inventories are stated at the lower of cost or net realizable value, determined on the first-in, first-out ("FIFO") basis. The value of inventory may decline as a result of surplus inventory, price reductions, or technological obsolescence. It is the Company’s policy to carry reserves against the carrying value of inventory when items have no future demand (obsolete inventory) and additionally, where inventory items on hand have demand, yet have insufficient forecasted activity to consume the entire stock within a reasonable period. The Company recognizes reserves against the carrying value of such at-risk inventory items after considering the nature of the risk and any mitigating factors.
Property, Plant, and Equipment - Property, plant, and equipment includes the historic cost of land, buildings, equipment, and significant improvements to existing plant and equipment or, in the case of acquisitions, a fair market value appraisal of such assets completed at the time of acquisition. Property, plant, and equipment also includes the cost of purchased software. Expenditures for maintenance, repairs, and minor renewals are expensed as incurred. When property or equipment is sold or otherwise disposed of, the related cost and accumulated depreciation is removed from the respective accounts, and the gain or loss realized on disposition is reflected in earnings. The Company historically depreciates its assets on a straight-line basis over their estimated useful lives as follows: buildings and improvements 5 to 31.5 years; machinery and equipment 1.5 to 7 years; furniture and fixtures 2 to 5 years; vehicles 3 to 5 years; and software 3 to 5 years.

Leases - The Company determines whether an arrangement is a lease at contract inception. Lease liabilities and right-of-use assets are recognized on the lease commencement date based on the net present value of fixed lease payments over the lease term. The Company includes options to extend or terminate a lease within the lease term when it is reasonably certain the option will be exercised. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Lease liabilities represent an obligation to make lease payments arising from a lease while right-of-use assets represent a right to use an underlying asset during the lease term. Right-of-use assets include prepaid fixed lease payments and exclude lease incentives. As the Company's leases do not have a readily determinable implicit rate, the Company uses its incremental borrowing rate to determine the present value of fixed lease payments based on information available at the lease commencement date.

Fixed lease expense for operating leases and right-of-use asset amortization for finance leases are generally recognized on a straight-line basis over the lease term. Variable lease payments, such as payments based on an index rate or usage, are expensed as incurred and excluded from lease liabilities and right-of-use assets. The Company combines lease components and nonlease components such as maintenance into a single lease component, which results in the capitalization of all fixed payments within lease liabilities and right-of-use assets.

Derivative Instruments - The Company uses derivative financial instruments to hedge its exposure to foreign currency exchange rate risk. The Company does not enter into derivative financial instruments for speculative purposes and does not have a material portfolio of derivative financial instruments. Derivative financial instruments used for hedging purposes must be designated and effective as a hedge of the identified risk exposure at inception of the contract. The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivatives is recorded as a component of other comprehensive earnings and subsequently recognized in net earnings when the hedged items impact earnings.

Goodwill and Indefinite-Lived Intangible Assets - Goodwill represents the excess of purchase consideration over the fair value of the net assets of businesses acquired. Goodwill and certain other intangible assets deemed to have indefinite lives are not amortized. Instead, goodwill and indefinite-lived intangible assets are tested for impairment at least annually, or more frequently if there are events or circumstances indicating the carrying value of individual reporting units or assets may exceed their respective fair values on a more likely than not basis (that is, a likelihood of more than 50 percent). The Company performs its annual impairment assessment in the fourth quarter of each year on October 1.

Recoverability of goodwill is measured at the reporting unit level. The Company has four reporting units - High Performance Capacitors ("HPC"), Radio Frequency Microwave Filters ("RFMW"), Cornell Dubilier ("CD"), and MedTech & Specialty Audio ("MSA"). The goodwill balances associated with these reporting units at December 31, 2025 were as follows: $43.6 million for HPC, $19.6 million for RFMW, $69.4 million for CD, and $137.7 million for MSA.

Management first reviews relevant qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If management determines it is more likely than not that the carrying value of a reporting unit might be impaired, a quantitative analysis is performed.

The quantitative impairment assessment compares the fair value of each reporting unit to its carrying value. Impairment is measured as the amount by which the carrying value of a reporting unit exceeds its fair value. Fair value is estimated using a discounted cash flow model that includes the Company’s market participant assumptions, forecasted future cash flows based on historical performance and future estimated results, and other assumptions which are considered reasonable and inherent in the discounted cash flow analysis. Significant assumptions used in the model included forecasted revenue and terminal growth rates, profit margins, income tax rates, capital expenditures, working capital requirements, and the Company's weighted average cost of capital. These assumptions require significant judgment and actual results may differ from estimated amounts.
The Company performed a qualitative goodwill impairment test for the HPC, RFMW, and MSA reporting units and a quantitative impairment test for the CD reporting unit as of October 1, 2025 . No goodwill impairment charges were recorded in continuing operations for any reporting unit for the years ended December 31, 2025, 2024, or 2023.

Potential circumstances that could have a negative effect on the fair value of our reporting units include, but are not limited to, lower than forecasted revenue and terminal growth rates, decreased profit margins, higher income taxes, increased capital expenditures, higher working capital requirements, and an increase in the weighted average cost of capital. A reduction in the estimated fair value of the reporting units could trigger an impairment in the future. The Company cannot predict the occurrence of certain events or changes in circumstances that might adversely affect the carrying value of goodwill and intangible assets.

In testing its indefinite-lived trademarks for impairment, the Company uses a relief-from-royalty method to calculate and compare the fair value of the intangible asset to its carrying value. This method estimates the fair value of trademarks by calculating the present value of royalty income that could hypothetically be earned by licensing the trademark to a third party. Any excess of carrying value over the estimated fair value is recognized as an impairment loss. No impairment of indefinite-lived trademarks was indicated for the years ended December 31, 2025, 2024, or 2023.

See Note 6. Goodwill and Other Intangible Assets for additional information on goodwill and indefinite-lived intangible assets.

Other Intangible and Long-Lived Assets - Other intangible assets with determinable lives consist primarily of customer relationships, developed technology, and trademarks, which are amortized over estimated useful lives typically ranging from 4 to 15 years.

Long-lived assets and intangible assets with determinable lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows is produced and compared to its carrying value. If an asset is determined to be impaired, the loss is measured by the excess of the carrying amount of the asset over its fair value as determined by an estimate of discounted future cash flows.

Investment in Affiliate - This investment reflects Series D-2 preferred stock of Syntiant Corp., a non-marketable equity security. This investment is accounted for using the measurement alternative at cost. The carrying amount is remeasured to its fair value when observable price changes occur (observable prices in orderly transactions for an identical or similar investment of the same issuer), or when it is impaired. Any adjustments to the carrying amount are recorded in earnings.

Other Assets and Deferred Charges - Investments in mutual funds of $8.8 million and $7.4 million are included in "Other assets and deferred charges" as of December 31, 2025 and 2024, respectively. These investments are carried at fair value based on quoted prices for identical assets in active markets, resulting in classification within Level 1 of the fair value hierarchy. Gains and losses related to the investments are recorded within the Consolidated Statements of Earnings as a component of "Other (income) expense, net." Other assets and deferred charges also include non-current deferred tax assets.

Foreign Currency - Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, are translated into U.S. dollars at end-of-period exchange rates. Revenue and expense items are translated using weighted-average exchange rates. Foreign currency translation gains and losses are included as a component of "Accumulated other comprehensive loss." Assets and liabilities of an entity that are denominated in currencies other than an entity’s functional currency are re-measured into the functional currency using end-of-period exchange rates or historical rates where applicable to certain balances. Gains and losses related to these re-measurements are recorded within the Consolidated Statements of Earnings as a component of "Other (income) expense, net."

Revenue Recognition - Revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The majority of the Company’s revenue is generated through the manufacture and sale of specialized products and components. For product and component sales, each good sold to a customer typically represents a distinct performance obligation. The Company’s performance obligation to provide goods to a customer is typically satisfied at a point in time upon completion of the shipping process as indicated by the terms of the contract, at which point control is transferred to the customer and revenue is recognized. The Company has no significant arrangements with multiple performance obligations. Remaining performance obligations consist of the aggregate amount of the total transaction price that is unsatisfied or partially satisfied.
Contract liabilities (deferred revenue) primarily relate to arrangements where cash has been collected but transfer of control of all performance obligations to the customer has either partially occurred or not occurred at the balance sheet date. Deferred revenue is classified on the Consolidated Balance Sheet as either a current liability ("Other accrued expenses") or non-current liability ("Other liabilities") based on the timing of when the Company expects to complete the performance obligation.

The terms of a contract or historical business practice can give rise to variable consideration, including customer discounts, rebates, and returns. The Company estimates variable consideration using either the expected value or most likely amount method. We include amounts in the transaction price to the extent it is probable that a significant reversal of revenue will not occur in a subsequent reporting period. Our estimates of variable consideration are based on all reasonably available information (historical, current, and forecasted). Rebates are recognized over the contract period based on expected revenue levels. Sales discounts and rebates totaled $4.2 million, $4.5 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023, respectively. Returns and allowances totaled $5.5 million, $4.6 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023, respectively.

The Company accounts for shipping and handling activities that occur after control of the related good transfers to the customer as fulfillment activities rather than evaluating such activities as performance obligations. As a result, all shipping and handling costs related to contracts with customers are recognized in "Cost of goods sold" on the Consolidated Statements of Earnings. Additionally, the Company applies the practical expedient allowing incremental costs of obtaining a contract to be expensed as incurred if the amortization period of the resulting asset would have been less than one year. These costs primarily consist of sales commissions; the Company has no such significant costs exceeding the one-year limit for applying the practical expedient.

Receivables, net from contracts with customers were $91.7 million and $89.5 million as of December 31, 2025 and 2024, respectively. See Note 17. Segment Information for disclosures regarding the disaggregation of revenues.

Stock-Based Compensation – The principal awards issued under the stock-based compensation plans include stock options, restricted stock units ("RSUs"), and performance share units ("PSUs"). The cost for such awards is measured at the grant date based on the fair value of the award. The value of the portion of the award that is expected to ultimately vest is recognized as expense on a straight-line basis generally over the explicit service period of three years (except for retirement-eligible employees) and is included in "Cost of goods sold," "Research and development expenses," and "Selling and administrative expenses" in the Consolidated Statements of Earnings, depending on the functional area of the underlying employees. Expense for awards granted to retirement-eligible employees is recorded over the period from the date of grant through the date the employee first becomes eligible to retire and is no longer required to provide service. At the time of grant, the Company estimates forfeitures, based on historical experience, in order to estimate the portion of the award that will ultimately vest.

The Company uses the Black-Scholes valuation model to estimate the fair value of stock options granted to employees. The fair value of each RSU granted is equal to the share price at the date of the grant. The fair value of each PSU with a market condition is determined using a Monte Carlo simulation. The related expense for PSUs with market conditions is recognized regardless of the expected attainment as the grant date fair value considers the range of possible stock price and total shareholder return outcomes. The fair value of each PSU with a performance condition is equal to the share price at the date of the grant. The related expense for PSUs with performance conditions is recognized based on the expected attainment of performance targets. Changes in estimates for performance conditions that impact the number of shares expected to vest are recognized prospectively through cumulative adjustments to expense. See Note 13. Equity Incentive Program for additional information related to the Company’s stock-based compensation.

Income Taxes - The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company offsets and presents deferred tax liabilities and assets, as well as any related valuation allowance, as a single non-current amount on the Consolidated Balance Sheets on a jurisdictional basis. The Company's policy is to release income tax effects from accumulated other comprehensive loss in the period the underlying item expires.
The Company establishes valuation allowances for its deferred tax assets if, based on all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. In making such assessments, significant weight is given to evidence that can be objectively verified. The assessment of the need for a valuation allowance requires considerable judgment on the part of management with respect to the benefits that could be realized from future taxable income, as well as other positive and negative factors. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning strategies in making this assessment.

The Company recognizes tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Adjustments are made to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company's financial condition and operating results. The provision for income taxes includes the effects of any reserves that are believed to be appropriate, as well as the related net interest and penalties.

Research and Development Costs – Research and development costs, including qualifying engineering costs, are expensed when incurred.

Share Repurchases - On February 24, 2020, the Company announced that its Board of Directors had authorized a share repurchase program of up to $100.0 million of the Company's common stock. On April 28, 2022, it announced that our Board of Directors had increased the authorization by up to $150.0 million in additional aggregate value. On February 13, 2025, the Company announced that its Board of Directors had increased its share repurchase authorization by an additional $150.0 million in additional aggregate value. The timing and amount of any shares repurchased will be determined by the Company based on its evaluation of market conditions and other factors, and will be made in accordance with applicable securities laws in either the open market or in privately negotiated transactions. The Company is not obligated to purchase any shares under the program, and the program may be suspended or discontinued at any time. The actual timing, number, and share price of shares repurchased will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions, and applicable legal requirements. Any shares repurchased will be held as treasury stock. During the years ended December 31, 2025, 2024, and 2023, the Company repurchased 3,571,865, 2,987,697, and 2,851,604 shares of common stock, respectively, for a total of $65.0 million, $53.7 million, and $47.5 million, respectively. At December 31, 2025, the Company had $129.0 million remaining that may yet be repurchased under the share repurchase program.

Non-cash Investing Activities - Purchases of property, plant, and equipment included in accounts payable were $2.1 million at December 31, 2025, $1.7 million at December 31, 2024, and $1.1 million at December 31, 2023. These amounts reflect both continuing and discontinued operations. These non-cash amounts are not reflected as Capital expenditures within investing activities of the Consolidated Statements of Cash Flows for the respective periods.

On December 27, 2024, the Company completed the sale of the CMM to Syntiant. The total consideration for this transaction was approximately $141.9 million, consisting of $63.6 million in cash ($58.0 million net of cash sold), Syntiant Series D-2 preferred stock with a fair value of $77.2 million, and $1.1 million for estimated purchase price adjustments. The purchase price adjustment is still being finalized and is subject to change. These non-cash amounts are not reflected in "Proceeds from the sale of business" within Investing Activities on the Consolidated Statement of Cash Flows for the year ended December 31, 2024. See Note 2. Discontinued Operations.

The Company completed an asset acquisition in 2023 for a total purchase price of approximately $2.0 million, including contingent consideration with an estimated fair value at acquisition of $1.7 million. This non-cash amount is not reflected in “Acquisition of asset” within Investing Activities on the Consolidated Statement of Cash Flows for the year ended December 31, 2023.
Recently Issued Accounting Standards
v3.25.4
Disposed and Discontinued Operations (Notes)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure
2. Discontinued Operations

On December 27, 2024, the Company completed the sale of CMM to Syntiant. The total consideration for this transaction was approximately $141.9 million, consisting of $63.6 million in cash ($58.0 million net of cash sold), Syntiant Series D-2 preferred stock with a fair value of $77.2 million, and $1.1 million for estimated purchase price adjustments. The purchase price adjustment is still being finalized and is subject to change. The Company incurred costs to sell related to this transaction of $5.8 million and reclassified $3.4 million of gains from Accumulated other comprehensive loss to earnings upon the sale of CMM.

The Company recorded net adjustments of $2.8 million to the loss on disposal of CMM during the year ended December 31, 2025. This amount includes losses of $1.8 million ($1.3 million, net of tax) related to working capital adjustments and costs associated with the transaction that occurred in the fourth quarter of 2024, but were not recorded at that time. See also Note 1. Summary of Significant Accounting Policies.

The Company shares in certain separation costs pursuant to a credit for up to $13.5 million that Syntiant may apply to specified separation costs post-closing.

The disposition of CMM meets the criteria described in ASC 205-20, Presentation of Financial Statements – Discontinued Operations. In accordance with this guidance, the Company has classified the results of operations of CMM as discontinued operations for all periods presented as this disposal represents a strategic shift that has a major effect on the Company’s results of operations.

Results of the Company’s discontinued operations were as follows:
 Years Ended December 31,
(in millions)202520242023
Revenues$— $269.3 $256.2 
Cost of goods sold0.6 195.7 189.0 
Gain on sale of fixed assets— (1.1)(10.0)
Restructuring charges - cost of goods sold— (0.2)(2.4)
Gross profit(0.6)74.9 79.6 
Research and development expenses0.4 38.1 46.1 
Selling and administrative expenses0.9 27.1 24.5 
Goodwill impairment— 262.5 — 
Restructuring charges— — 1.3 
Operating expenses1.3 327.7 71.9 
Operating (loss) earnings(1.9)(252.8)7.7 
Loss (gain) on disposal of business2.8 (1.7)— 
Gain on sale of technology, net— (5.4)— 
(Loss) earnings from discontinued operations before taxes(4.7)(245.7)7.7 
Provision for income taxes2.0 15.5 0.9 
(Loss) earnings from discontinued operations, net$(6.7)$(261.2)$6.8 

The Company recorded goodwill impairment charges of $262.5 million during the year ended December 31, 2024 to write down the carrying value of CMM to its fair value prior to its disposition.

During the year ended December 31, 2024, the Company sold certain technology related to CMM to a third party for total proceeds of $7.2 million. After transaction costs of $1.8 million, the Company recognized a net gain on the sale of this asset of $5.4 million during the year ended December 31, 2024. This gain is reflected as “Gain on sale of technology, net” in the results of discontinued operations above.
During the year ended December 31, 2023, the Company entered into an agreement to sell certain of its machinery and equipment related to CMM to a third party for total proceeds of $11.4 million, which were received in their entirety in 2023. In addition, the Company received $1.1 million in 2023, which was initially reserved for a third-party payment. The Company transferred control of a portion of these assets with a fair value of approximately $11.2 million to the buyer during the year ended December 31, 2023, resulting in a gain on sale of approximately $11.0 million. The remaining assets were transferred to the buyer in 2024 for an immaterial gain. During the year ended December 31, 2024, the Company recorded an additional gain on sale of these assets of approximately $1.1 million as a result of changing its estimate on the amount owed to the third party.

These gains on sale are reflected within the results from discontinued operations above as follows:
Years Ended December 31,
(in millions)20242023
Gain on sale of fixed assets$(1.1)$(10.0)
Restructuring charges - cost of goods sold— (1.0)
Total$(1.1)$(11.0)

As the Consolidated Statement of Cash Flows includes the results of CMM in its net cash provided by (used in) operating, investing, and financing activities, the Company has provided the following information related to CMM in accordance with ASC 205-20:
Years Ended December 31,
(in millions)202520242023
Depreciation (1)
$— $8.2 $14.3 
Amortization of intangible assets (1)
— 4.5 6.0 
Capital expenditures— 1.7 4.7 
(1) CMM was classified as held-for-sale as of September 30, 2024. At that time, the Company ceased to record depreciation and amortization for its long-lived assets in connection with ASC 360, Property, Plant, and Equipment.

Purchases of property, plant, and equipment related to discontinued operations included in accounts payable were $0.6 million and $0.2 million at December 31, 2024 and 2023, respectively. These non-cash amounts are not reflected as "Capital expenditures" above. There were no purchases of property, plant, and equipment related to discontinued operations included in accounts payable during the year ended December 31, 2025.
v3.25.4
Property, Plant and Equipment, net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, net
5. Property, Plant, and Equipment, net

The following table details the major components of property, plant, and equipment, net:
 (in millions)December 31, 2025December 31, 2024
Land$14.1 $14.1 
Buildings and improvements99.1 117.2 
Machinery, equipment, and other294.4 276.7 
Subtotal407.6 408.0 
Less accumulated depreciation(267.4)(277.9)
Total$140.2 $130.1 
Depreciation expense totaled $20.1 million, $20.6 million, and $18.7 million for the years ended December 31, 2025, 2024, and 2023, respectively.
v3.25.4
Intangible Assets, Goodwill and Other
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]
6. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable segment are as follows:
 (in millions)Precision DevicesMedTech & Specialty AudioTotal
Balance at January 1, 2024$132.8 $137.7 $270.5 
Measurement period adjustments(0.3)— (0.3)
Foreign currency translation(0.4)— (0.4)
Balance at December 31, 2024132.1 137.7 269.8 
Foreign currency translation0.5 — 0.5 
Balance at December 31, 2025$132.6 $137.7 $270.3 

The Company recorded measurement period adjustments totaling $0.3 million to goodwill during the year ended December 31, 2024 related to the 2023 acquisition of CD.
The gross carrying value and accumulated amortization for each major class of intangible assets are as follows:
December 31, 2025December 31, 2024
(in millions)Gross Carrying
Amount		Accumulated
Amortization		Gross Carrying
Amount		Accumulated
Amortization
Amortized intangible assets:
Trademarks$15.2 $2.8 $15.2 $1.7 
Customer relationships118.4 39.5 118.5 27.3 
Developed technology
26.3 8.8 26.3 6.0 
Other0.8 0.5 0.8 0.4 
Total160.7 51.6 160.8 35.4 
Unamortized intangible assets:
Trademarks32.0 32.0 
Total intangible assets, net$141.1 $157.4 
As of December 31, 2025, the weighted average remaining useful lives for the amortizable intangible assets are: trademarks at 12.0 years, customer relationships at 7.4 years, developed technology at 6.9 years, and other at 5.3 years. The weighted average remaining useful life for all amortizable intangible assets was 7.8 years as of December 31, 2025.

Total amortization expense for the years ended December 31, 2025, 2024, and 2023 was $16.2 million, $17.0 million, and $7.5 million, respectively. Amortization expense for the next five years and thereafter, based on current definite-lived intangible balances, is estimated to be as follows:
(in millions)
2026$16.0 
202715.9 
202815.2 
202912.8 
203011.7 
2031 and thereafter37.5 
Total$109.1 
v3.25.4
Leases, Codification Topic 842
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block]
7. Leases

The Company has leases for manufacturing, sales, support, and engineering facilities, certain manufacturing and office equipment, and vehicles. The majority of the leases have remaining terms of 1 to 9 years, some of which include options to extend the leases for up to 6 years, and some of which include options to terminate the leases within 1 year. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company subleases certain facilities to third parties.

The disclosures below include the results of both continuing and discontinued operations. As stated in Note 1. Summary of Significant Accounting Policies, subsequent to the sale of CMM on December 27, 2024, the Company leases portions of its facilities to Syntiant. The portion of right-of-use operating lease assets subleased by Syntiant totaled $5.2 million and $0.3 million at December 31, 2025 and 2024, respectively.

The following table details the components of lease cost:
Years Ended December 31,
(in millions)202520242023
Operating lease cost (1)
$6.4 $6.9 $7.9 
Finance lease cost:
Amortization of right-of-use assets0.4 2.3 2.3 
Interest on lease liabilities— 0.1 0.2 
Sublease income(1.0)(0.2)(3.3)
Total lease cost$5.8 $9.1 $7.1 
(1) Includes short-term and variable lease costs, which were immaterial.

The components of lease cost other than interest on lease liabilities are presented within "Cost of goods sold," "Research and development expenses," and "Selling and administrative expenses" on the Consolidated Statements of Earnings based on the use of the underlying assets. Interest on lease liabilities is presented within "Interest expense, net" on the Consolidated Statements of Earnings.
The following table presents supplemental balance sheet information related to finance leases:
(in millions)Balance Sheet LineDecember 31, 2025December 31, 2024
Finance lease right-of-use assetsProperty, plant, and equipment, net$0.6 $1.1 
Current finance lease liabilitiesOther accrued expenses$0.4 $0.4 
Long-term finance lease liabilitiesOther liabilities0.3 0.4 
Total finance lease liabilities$0.7 $0.8 

The following table presents supplemental cash flow information related to leases:
Years Ended December 31,
(in millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5.6 $5.7 $9.1 
Operating cash flows from finance leases— 0.1 0.2 
Financing cash flows from finance leases0.5 1.5 2.5 
Lease liabilities arising from obtaining right-of-use assets:(2)
Operating leases$15.8 $2.0 $2.6 
Finance leases0.4 0.2 0.7 
(2) Does not include operating lease liabilities of $3.4 million and finance lease liabilities of $0.1 million obtained in the acquisition of CD during the year ended December 31, 2023. See Note 3. Acquisition for more information.

The following table details weighted-average remaining lease terms and discount rates:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years):
Operating leases6.52.8
Finance leases2.42.6
Weighted-average discount rate:
Operating leases6.6 %5.6 %
Finance leases6.5 %5.9 %

The following table details maturities of lease liabilities as of December 31, 2025:
(in millions)Operating LeasesFinance Leases
20265.2 0.4 
20274.6 0.2 
20283.3 0.1 
20292.1 — 
20302.1 — 
2031 and thereafter7.7 — 
Total lease payments25.0 0.7 
Less interest(4.8)— 
Present value of lease liabilities$20.2 $0.7 
v3.25.4
Restructuring and Related Activities
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities
9. Restructuring and Related Activities

Restructuring and related activities are designed to better align the Company's operations with current market conditions through targeted facility consolidations, headcount reductions, and other measures to further optimize operations.

During the year ended December 31, 2025, the Company recorded restructuring charges of $3.8 million related to headcount reductions across the Company primarily to rightsize operating expenses subsequent to the sale of CMM. The Company recorded $0.8 million in restructuring charges within "Gross profit" and the remaining $3.0 million within "Operating expenses" on the Consolidated Statement of Earnings for the year ended December 31, 2025.

During the year ended December 31, 2024, the Company recorded restructuring charges within the PD segment of $3.4 million for severance pay and benefits related to headcount reductions and for costs associated with transferring certain capacitors manufacturing to existing facilities to further optimize operations. The Company recorded $1.9 million in restructuring charges within "Gross profit" and the remaining $1.5 million within "Operating expenses" on the Consolidated Statement of Earnings for the year ended December 31, 2024.

During the year ended December 31, 2023, the Company recorded restructuring charges within the PD segment of $2.5 million for severance pay and benefits related to headcount reductions and for costs associated with transferring certain capacitors manufacturing to existing facilities to further optimize operations, and $0.8 million for Corporate charges. The Company recorded $1.1 million in restructuring charges within "Gross profit" and the remaining $2.2 million within "Operating expenses" on the Consolidated Statement of Earnings for the year ended December 31, 2023.

The following table details restructuring charges incurred by reportable segment:
 Years Ended December 31,
(in millions)202520242023
Precision Devices$2.2 $3.4 $2.5 
MedTech & Specialty Audio0.4 — — 
Corporate1.2 — 0.8 
Total$3.8 $3.4 $3.3 
The following table details the Company’s severance and other restructuring accrual activity:
(in millions)
Severance Pay and Benefits (1)
Contract Termination and Other Costs (2)
Total
Balance at January 1, 2023$— $19.1 $19.1 
Restructuring charges (continuing operations)3.3 — 3.3 
Payments(2.1)(0.4)(2.5)
Other, including foreign currency (3) (4)
0.9 (1.9)(1.0)
Balance at December 31, 20232.1 16.8 18.9 
Restructuring charges (continuing operations)3.4 — 3.4 
Payments(4.4)(5.7)(10.1)
Other, including foreign currency (3) (5)
(0.7)(1.7)(2.4)
Balance at December 31, 20240.4 9.4 9.8 
Restructuring charges (continuing operations)3.8 — 3.8 
Payments(3.0)(4.9)(7.9)
Other, including foreign currency
— 0.3 0.3 
Balance at December 31, 2025$1.2 $4.8 $6.0 
(1) All accruals for Severance Pay and Benefits are reflected within "Other accrued expenses" on the Consolidated Balance Sheet.
(2) Accruals for Contract Terminations and Other Costs of $4.8 million and $4.6 million were reflected within Other accrued expenses on the Consolidated Balance Sheet at December 31, 2025 and 2024, respectively. The remaining balances are reflected within Other liabilities.
(3) Other activity includes restructuring credits reflected in the results of discontinued operations for the years ended December 31, 2024 and 2023 of $0.2 million and $2.5 million, respectively. There were no restructuring charges reflected in the results of discontinued operations for the year ended December 31, 2025.
(4) Other activity during 2023 includes $1.1 million of reserves assumed by the Company with the acquisition of CD within the PD segment.
(5) Other activity during 2024 includes the non-cash disposal of fixed assets of $0.7 million within the PD segment, as a result of transferring certain capacitors manufacturing to existing facilities to further optimize operations.

The severance and restructuring accruals are recorded in the following line items on the Consolidated Balance Sheets:

(in millions)December 31, 2025December 31, 2024
Other accrued expenses$6.0 $5.0 
Other liabilities— 4.8 
Total$6.0 $9.8 
v3.25.4
Hedging Transactions and Derivative Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Disclosure
10. Hedging Transactions and Derivative Instruments

The Company is affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as "market risks." The Company uses derivatives as a risk management tool to mitigate the potential impact of certain market risks, which are primarily foreign currency risk related to ongoing business operations.

Cash Flow Hedging

The Company uses cash flow hedges to minimize the variability in cash flows of assets, liabilities, or forecasted transactions caused by fluctuations in foreign currency exchange rates. These derivatives, which are designated cash flow hedges, are carried at fair value. The changes in their fair values are recorded to "Accumulated other comprehensive income (loss)" ("AOCI") and reclassified to current earnings when the hedge contract matures or becomes ineffective.
To manage its exposure to foreign currency exchange rates, the Company has entered into currency deliverable forward contracts. These derivative instruments allow the Company to hedge portions of its forecasted funding needs, which are generally expected to occur within the next twelve months and are denominated in currencies other than the U.S. dollar. The Company maintains a foreign currency cash flow hedging program primarily to reduce the risk that the U.S. dollar net cash inflows and non-U.S. dollar net cash outflows will be adversely affected by changes in foreign currency exchange rates. At December 31, 2025 and 2024, the notional value of the derivatives related to currency forward contracts, principally the Chinese yuan, Malaysian ringgit, Philippine peso, Japanese yen, and Mexican peso was $46.9 million and $43.4 million, respectively. The Company presents the impact of foreign exchange contracts qualifying as cash flow hedges within "Cost of goods sold" on the Consolidated Statements of Earnings, which is the same line used to present the earnings effect of the hedged item.

Economic (Non-Designated) Hedging

In addition to derivative instruments that are designated and qualify for hedge accounting, the Company also uses certain derivatives as economic hedges of foreign currency risk. Although these derivatives were not designated or did not qualify for hedge accounting, they are effectively economic hedges. The changes in fair value of these economic hedges are immediately recognized in earnings.

The Company uses foreign currency economic hedges to offset the earnings impact that fluctuations in foreign currency exchange rates have on certain monetary assets and liabilities denominated in non-functional currencies. The Company does not enter into these hedges for speculative reasons. These derivatives are carried at fair value with changes in fair value immediately recognized in earnings within "Other expense (income), net." In addition, these derivative instruments minimize the impact of exchange rate movements on the Company’s balance sheet, as the gains or losses on these derivatives are intended to offset gains and losses from the reduction of the hedged assets and liabilities. At December 31, 2025 and 2024, the notional value of the derivatives related to economic hedging was $181.6 million and $148.7 million, respectively.

The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as foreign currency exchange rates or other financial indices. The Company does not view the fair values of its derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. Virtually all of our derivatives are straightforward over-the-counter instruments with liquid markets.

Fair Value Measurements

All derivatives are carried at fair value on the Company’s Consolidated Balance Sheets. ASC 820, Fair Value Measurement, establishes a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities.

Level 3 - Unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The Company determines the fair values of its derivatives based on standard valuation models or observable market inputs such as quoted market prices or foreign currency exchange rates; therefore, the Company classifies the derivatives within Level 2 of the valuation hierarchy.
The fair values of derivative instruments held by the Company are as follows (in millions):
Derivative Assets (Liabilities)
Hedge TypeContract TypeBalance Sheet LineDecember 31, 2025December 31, 2024
Derivatives designated as hedging instruments
Cash flow hedgesForeign exchange contractsPrepaid and other current assets$1.1 $0.2 
Cash flow hedgesForeign exchange contractsOther accrued expenses(1.4)(1.6)
Cash flow hedgesForeign exchange contractsOther liabilities— (1.0)
Derivatives not designated as hedging instruments
Economic hedgesForeign exchange contractsPrepaid and other current assets0.7 — 
Economic hedgesForeign exchange contractsOther accrued expenses(0.1)(0.9)

The pre-tax amount of unrealized gain (loss) recognized in accumulated other comprehensive loss on derivatives designated as hedging instruments is as follows (in millions):
Years Ended December 31,
Hedge TypeContract Type202520242023
Cash flow hedgesForeign exchange contracts$2.4 $(3.3)$(5.0)

The table above excludes tax expense of $0.6 million for the year ended December 31, 2025, and a tax benefit of $0.8 million and $1.1 million for the years ended December 31, 2024 and 2023, respectively.

The pre-tax impact of derivatives on the Consolidated Statements of Earnings is as follows (in millions):
Years Ended December 31,
202520242023
Hedge TypeContract TypeCost of goods soldOther expense, netCost of goods soldOther expense, netCost of goods soldOther expense, net
Total amounts per Consolidated Statements of Earnings$332.5 $3.2 $316.8 $0.8 $251.9 $0.7 
Effect of derivatives designated as hedging instruments
Amount of (gain) loss reclassified from accumulated other comprehensive loss into earnings:
Cash flow hedgesForeign exchange contracts(0.2)— 1.5 — 2.7 — 
Effect of derivatives not designated as hedging instruments
Amount of (gain) loss recognized in earnings:
Economic hedgesForeign exchange contracts— (6.4)— 3.8 — 3.3 
v3.25.4
Borrowings and Lines of Credit
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Borrowings and Lines of Credit
11. Borrowings

Borrowings consist of the following:
(in millions)December 31, 2025December 31, 2024
$400.0 million Revolving Credit Facility$114.0 $134.0 
Seller Note— 68.5 
Total114.0 202.5 
Less current maturities of Seller Note
— 68.5 
Total long-term debt$114.0 $134.0 

Total debt principal payments over the next five years are as follows:
(in millions)
2026— 
2027— 
2028114.0 
2029— 
2030— 

Revolving Credit Facility

On February 8, 2023, the Company entered into an Amended and Restated Credit Agreement (the "A&R Credit Agreement") that amends and restates the prior Credit Agreement, dated September 4, 2020, and provides for a senior secured revolving credit facility with borrowings in an aggregate principal amount at any time outstanding not to exceed $400.0 million (the "Credit Facility"). The A&R Credit Agreement, among other things, extends the maturity date of the Credit Facility from January 2, 2024 to February 8, 2028, replaces the London Inter-Bank Offered Rate (“LIBOR”) with the Term Secured Overnight Financing Rate (“Term SOFR”) as a reference rate available for borrowings, amends the minimum Interest Coverage Ratio, and amends certain other financial covenants with which the Company must comply, as described below.

On September 25, 2023, the Company amended its A&R Credit Agreement to, among other things, (a) permit the Company in connection with the acquisition of CD, to incur senior priority seller financing indebtedness (the “Seller Note”) in an aggregate principal amount of $122.9 million secured by certain assets (including equity interests) acquired in connection with such acquisition and the capital stock of Cornell Dubilier, LLC (the “Acquisition Assets”), which matured two years after the effective date of such Seller Note (the “Seller Note Maturity Date”) and (b) extend the requirement to pledge the Acquisition Assets that would otherwise constitute collateral under the Credit Agreement to the date that is 90 days after the Seller Note Maturity Date. All other terms remain the same as the A&R Credit Agreement dated February 8, 2023.

Up to $100.0 million of the Credit Facility will be available in Euro, Pounds Sterling, and other currencies requested by the Company and up to $50.0 million of the Credit Facility will be made available in the form of letters of credit. Undrawn amounts under the Credit Facility accrue a commitment fee at a per annum rate of 0.225% to 0.350%, based on a leverage ratio grid.

At any time during the term of the Credit Facility, the Company may request to increase the commitments under the Credit Facility or to establish one or more incremental term loan facilities under the Credit Facility in an aggregate principal amount not to exceed the sum of $200.0 million, plus additional amounts, so long as the senior secured leverage ratio does not exceed 2.00 to 1.00.

The A&R Credit Agreement includes requirements, to be tested quarterly, that the Company maintains (i) a minimum ratio of Consolidated EBITDA to consolidated cash interest expense of 3.00 to 1.00, (the "Interest Coverage Ratio"), (ii) a ratio of total indebtedness, minus netted cash in an aggregate amount not to exceed $50.0 million, to Consolidated EBITDA of 3.75 to 1.00 (the "Total Net Leverage Ratio"), and (iii) a maximum ratio of senior net secured indebtedness to Consolidated EBITDA of 3.25 to 1.00 (the "Senior Secured Net Leverage Ratio"). For these ratios, Consolidated EBITDA and consolidated interest expense are calculated using the most recent four consecutive fiscal quarters in a manner defined in the A&R Credit Agreement. At December 31, 2025, the Company was in compliance with these covenants and it expects to remain in compliance with all of its debt covenants over the next twelve months.
The interest rates under the A&R Credit Facility will be, at the Borrowers' option (1) (A) in the case of borrowings denominated in U.S. dollars Term SOFR, (B) in the case of borrowings denominated in Sterling, Daily Simple Sonia, or (C) for borrowings denominated in Euro, EURIBOR, in each case, plus the rates per annum determined from time to time based on the total net leverage ratio of the Company as of the end of and for the most recent period of four fiscal quarters for which financial statements have been delivered (the "Applicable Margin"); or (2) in the case of borrowings denominated in U.S. dollars, alternate base rate ("ABR") (as defined in the A&R Credit Agreement) plus the Applicable Margin. The Applicable Margin for Term SOFR, Daily Simple Sonia, or EURIBOR could range from 1.50% to 2.50% while the Applicable Margin for ABR could range from 0.50% to 1.50%.

The weighted-average interest rate on the Company's borrowings under the Credit Facility was 6.10%, 7.07%, and 6.55% for the years ended December 31, 2025, 2024, and 2023, respectively. The weighted-average commitment fee on the revolving lines of credit was 0.25%, 0.26%, and 0.23% for the years ended December 31, 2025, 2024 and 2023, respectively.

Seller Note

In connection with the acquisition of Cornell Dubilier on November 1, 2023, the Company obtained an interest-free Seller Note with aggregate principal payments of $122.9 million. The Company recorded the Seller Note on the acquisition date at its present value of $109.9 million by discounting the future principal payments using an imputed rate of interest of approximately 7.1% in accordance with accounting guidance in ASC 835, Interest. The Company has made a successful indemnity claim against the Seller Note of $0.2 million. The Company repaid $50.0 million of the Seller Note on November 1, 2024 and the remaining $72.7 million on October 31, 2025. The Company recognized imputed interest expense on the Seller Note of approximately $4.2 million, $7.5 million and $1.3 million for the years ended December 31, 2025, 2024, and 2023, respectively.

Interest expense and interest income for the years ended December 31, 2025, 2024, and 2023 were as follows:
 Years Ended December 31,
 (in millions)202520242023
Interest expense$13.0 $20.1 $7.4 
Interest income(3.7)(3.8)(2.0)
Interest expense, net$9.3 $16.3 $5.4 
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
12. Income Taxes

The components of earnings before income taxes and discontinued operations were:
 Years Ended December 31,
(in millions)202520242023
Domestic$60.8 $32.2 $(118.5)
Foreign3.2 2.5 155.8 
Total earnings before income taxes and discontinued operations$64.0 $34.7 $37.3 

Income tax expense (benefit) is comprised of the following:
 Years Ended December 31,
(in millions)202520242023
Current:
U.S. Federal$0.3 $0.9 $(1.8)
State and local1.0 0.5 0.3 
Foreign5.3 4.0 15.1 
Total current tax expense$6.6 $5.4 $13.6 
Deferred:
U.S. Federal$5.8 $4.5 $(38.8)
State and local0.7 — (2.4)
Foreign— 1.4 (0.7)
Total deferred tax expense (benefit)6.5 5.9 (41.9)
Total income tax expense (benefit)$13.1 $11.3 $(28.3)
The Company has adopted ASU 2023-09 prospectively as of the year ended December 31, 2025. The reconciliation of income tax expense at the U.S. Federal income tax rate to the Company’s actual income tax expense (benefit) was as follows:
Year Ended December 31,
($ in millions)2025
Income tax expense at U.S. federal statutory income tax rate$13.5 21.0 %
State and local taxes, net of federal income tax (1)
(0.9)(1.4)
Foreign tax effects:
Cayman:
Statutory tax rate difference between Cayman and U.S.(7.5)(11.7)
Malaysia:
Non-taxable interest(4.2)(6.5)
Non-deductible interest expense9.0 14.0 
Philippines:
Tax incentives(1.0)(1.6)
Other0.2 0.3 
Luxembourg:
Statutory tax rate difference between Luxembourg and U.S.(1.1)(1.7)
Change in valuation allowances(3.7)(5.7)
Non-deductible interest9.0 14.0 
Foreign currency income3.0 4.7 
Other0.7 1.1 
Japan:
Statutory tax rate difference between Japan and U.S.0.8 1.3 
Foreign currency loss(2.1)(3.3)
Other foreign jurisdictions1.4 2.1 
Effect of cross-border tax laws:
Global intangible low-taxed income(0.1)(0.2)
Foreign-derived intangible income(5.8)(9.0)
Subpart F2.5 3.9 
Tax credits:
Research and development tax credits(1.4)(2.2)
Foreign tax credits(1.7)(2.6)
Non-taxable or non-deductible items:
Share-based payment awards3.2 5.1 
Non-taxable interest(5.0)(7.7)
Non-deductible asset impairment0.8 1.2 
Non-deductible foreign currency loss1.3 2.0 
Non-deductible amortization1.7 2.6 
Other0.5 0.8 
Changes in unrecognized tax benefits(0.2)(0.3)
Other adjustments0.2 0.3 
Total$13.1 20.5 %
(1) State taxes in California made up the majority (greater than 50%) of the tax effect in this category.
As previously disclosed for the years ended December 31, 2024 and 2023, the effective income tax rate differs from the statutory federal income tax rate as follows:
 Years Ended December 31,
(in millions)20242023
Income tax expense at U.S. federal statutory income tax rate$7.3 $7.8 
State and local taxes, net of federal income tax benefit0.5 (2.0)
Foreign operations tax effect0.4 4.9 
Research and experimentation tax credits(1.8)(1.5)
Valuation allowance4.2 (14.4)
Tax incentives(1.0)(1.2)
Tax contingencies(0.7)(0.2)
Tax holiday0.6 0.5 
Tax rate changes1.0 — 
Statutory loss net of recapture(1.5)— 
Subpart F income4.4 — 
Foreign taxes(2.4)— 
Non-deductible and non-taxable interest0.6 (1.5)
Stock-based compensation3.5 3.0 
Impact of intangible property transfers— (26.6)
Other, principally non-tax deductible items0.2 1.8 
Global low tax and foreign derived intangible income(2.6)1.3 
Prior period items(1.4)(0.2)
Total income tax expense (benefit)$11.3 $(28.3)
The components of the Company’s deferred tax assets and liabilities included the following:
(in millions)December 31, 2025December 31, 2024
Deferred tax assets:
Accrued compensation, principally post-retirement, and other employee benefits$11.3 $10.6 
Accrued expenses3.1 7.6 
Accrued interest(0.1)0.1 
Net operating loss and other carryforwards356.5 336.1 
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes12.6 10.6 
Unremitted earnings of non-U.S. subsidiaries(1.2)1.6 
Intangible assets, principally due to different tax and financial reporting bases31.0 31.9 
Plant and equipment, principally due to differences in depreciation0.4 1.0 
Total gross deferred tax assets413.6 399.5 
Valuation allowance(45.8)(48.7)
Total deferred tax assets$367.8 $350.8 
Deferred tax liabilities:
Net operating loss recapture(284.4)(256.1)
Other liabilities$(2.1)$(4.1)
Total gross deferred tax liabilities(286.5)(260.2)
Net deferred tax asset$81.3 $90.6 
Classified as follows in the Consolidated Balance Sheets:
Other assets and deferred charges (non-current deferred tax assets)$82.4 $91.7 
Deferred income taxes (non-current deferred tax liabilities)(1.1)(1.1)
Net deferred tax asset$81.3 $90.6 

The Company recorded valuation allowances of $45.8 million and $48.7 million at December 31, 2025 and 2024, respectively, against deferred tax assets from continuing operations as the Company believes it is more likely than not that these assets will not be realized. At December 31, 2025, we recognized an income tax benefit of $2.9 million million related to the reversal of deferred tax asset valuation allowance on certain U.S. state tax attributes. The Company routinely reviews the future realization of deferred tax assets based on projected future reversal of taxable temporary differences, available tax planning strategies, and projected future taxable income. Management believes that it is more likely than not that the Company will realize the benefits of the remaining deferred tax assets.

At December 31, 2025, the Company had $2.4 million of U.S. federal net operating losses that are available, of which none will expire within the next 5 years and of which $2.4 million will expire in the next 6 to 10 years. There are $3.0 million of domestic state net operating losses that are available between 2027 and 2043. There are $311.1 million of non-U.S. net operating loss carryforwards, of which $0.1 million will expire in the next 5 years; $3.3 million will expire in the next 6 to 10 years; $307.0 million will expire in the next 11 to 20 years; $0.6 million can be carried forward indefinitely; and $0.1 million is a capital loss carried forward indefinitely.

The Company has $22.3 million of U.S. federal research and development credits that begin to expire in 2026 and $2.3 million of foreign tax credits that begin to expire in 2034. In addition, the Company has $15.2 million of state credits, of which $1.6 million will expire between 2026 and 2040 if unused, and $13.6 million can be carried forward indefinitely.
As of December 31, 2025, the Company has approximately $1.5 billion of undistributed earnings in its foreign subsidiaries. Approximately $0.3 billion of these earnings are no longer considered permanently reinvested. The incremental tax cost to repatriate these earnings to the U.S. is immaterial. The Company has not provided for deferred taxes on approximately $1.2 billion of undistributed earnings from non-U.S. subsidiaries which are indefinitely reinvested in operations. If these earnings were distributed, they would likely not be subject to U.S. federal income tax because they were previously taxed under the Tax Reform Act. We would likely be required to accrue and pay U.S. state and local taxes and withholding taxes payable to various countries. It is not practical to determine the income tax liability that would be payable if such earnings were not reinvested indefinitely.

Unrecognized Tax Benefits

The Company records interest and penalties associated with unrecognized tax benefits as a component of income tax expense. During the years ended December 31, 2025, 2024, and 2023, the Company recorded interest and penalty expense related to unrecognized tax benefits. As of of December 31, 2025 and 2024 the Company accrued interest and penalties of $0.6 million and $0.3 million, respectively, which were included in Other liabilities on the Consolidated Balance Sheets. During the year ended December 31, 2023, the Company recorded no interest or penalty expense.

The Company's tax returns are routinely audited by the tax authorities in the relevant jurisdictions. Our U.S. federal returns remain open to examination for tax years 2022 to 2024. As of December 31, 2025, we have no tax years under examination by the Internal Revenue Service (IRS). The Company conducts business in multiple foreign, non-U.S. jurisdictions including Malaysia, China, Philippines, India, and the United Kingdom; tax years are typically subject to examination for three to ten years. We are currently under audit by local tax authorities in Malaysia and India for tax years 2018-2024 and fiscal year 2023, respectively.

Included in the balance of total unrecognized tax benefits at December 31, 2025 are potential benefits of $1.5 million, which if recognized, would affect the effective rate on earnings from continuing operations. Given the Company's current valuation allowance position, no benefit is expected to result from the reversal of any uncertain tax position associated with the acquired attributes.
(in millions)
Unrecognized tax benefits at January 1, 2023$8.1 
Reductions as a result of a lapse in statute of limitations(0.3)
Foreign exchange fluctuations0.2 
Unrecognized tax benefits at December 31, 2023$8.0 
Additions for tax positions of prior years0.6 
Reductions as a result of a lapse in statute of limitations(0.6)
Foreign exchange fluctuations(0.1)
Unrecognized tax benefits at December 31, 2024$7.9 
Additions for tax positions of prior years0.7 
Reductions as a result of a lapse in statute of limitations(0.4)
Foreign exchange fluctuations(0.1)
Unrecognized tax benefits at December 31, 2025$8.1 
The following is a supplemental schedule of cash paid for income taxes for those individual jurisdictions equaling 5% or more of the total income taxes paid (net of refunds) for the year ended December 31, 2025:

(in millions)
U.S. Federal$0.8 
State and local0.8 
Foreign:
United Kingdom1.9 
Denmark0.9 
Japan0.4 
Malaysia2.8 
Philippines0.5 
Other0.3 
Cash paid during the period for income taxes$8.4 
v3.25.4
Equity Incentive Program
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement
13. Equity Incentive Program

The Company maintains equity compensation plans that provide for the issuance of Knowles stock to directors, executive officers, and other employees. The maximum number of shares available for issuance under the plans is 23.4 million, of which 11.4 million were available for future awards at December 31, 2025.

The following table summarizes the stock-based compensation expense:
 Years Ended December 31,
(in millions)202520242023
Pre-tax stock-based compensation expense
Cost of goods sold$1.5 $1.5 $1.6 
Research and development expenses3.3 2.4 1.9 
Selling and administrative expenses23.6 18.3 19.3 
Total pre-tax stock-based compensation expense (1)
28.4 22.2 22.8 
Tax benefit4.1 3.0 2.8 
Total stock-based compensation expense, net of tax$24.3 $19.2 $20.0 
(1) Stock-based compensation shown here reflects the expense included in continuing operations. Stock-based compensation expense included in discontinued operations totaled $0.6 million and $6.2 million for the years ended December 31, 2024 and 2023, respectively. There was no stock-based compensation expense included in discontinued operations for the year ended December 31, 2025.

Compensation expense for stock-based awards is measured based on the fair value of the awards as of the date the stock-based awards are granted. Estimated forfeitures are reflected in expense based on historical experience at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. Compensation costs for stock-based awards are amortized over their service period.

Stock Options

No stock options were granted during the years ended December 31, 2025, 2024, and 2023.

The exercise price per share for the stock options granted by the Company was equal to the closing price of Knowles' stock on the NYSE on the date of the grant. The period during which options granted by the Company were exercisable was fixed by Knowles' Compensation Committee of the Board of Directors at the time of grant. Generally, stock options vest one-third on each of the first three anniversaries of the grant date and expire seven years from the grant date.
The following table summarizes the Company's stock option activity:
 Number of SharesWeighted-Average Exercise PriceAggregate Intrinsic Value (in millions)Weighted-Average Remaining Contractual Term (Years)
Outstanding at December 31, 20241,161,337 $17.59   
Exercised (1)
(598,909)16.94 
Expired(148,769)18.54 
Outstanding at December 31, 2025413,659 $18.20 $1.3 1.6
Exercisable at December 31, 2025413,659 $18.20 $1.3 1.6
(1) The number of stock options exercised includes shares that the Company withheld on behalf of employees to satisfy the option exercise price (in the instances of net exercises) as well as statutory tax withholding requirements.

There was no unrecognized compensation expense related to stock options at December 31, 2025.

Other information regarding the exercise of stock options is listed below:
Years Ended December 31,
(in millions)202520242023
Cash received by Knowles for exercise of stock options$6.7 $5.8 $1.6 
Aggregate intrinsic value of stock options exercised2.9 2.3 2.9 
Tax benefit from stock options exercised— — 0.6 

RSUs

The following table summarizes the Company's RSU activity:
 Share unitsWeighted-average grant date fair value
Unvested at December 31, 20241,819,308 $17.79 
Granted1,057,649 18.10 
Vested (1)
(856,091)18.26 
Forfeited(109,340)17.54 
Unvested at December 31, 20251,911,526 $17.76 
(1) The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.

RSUs vest based on the passage of time. Generally, RSUs have a three year vesting schedule and vest one-third on each of the first three anniversaries of the grant date. The fair value of RSUs vested during the year ended December 31, 2025 was $15.4 million. At December 31, 2025, $16.7 million of unrecognized compensation expense related to RSUs is expected to be recognized over a weighted-average period of 1.4 years.
PSUs

Awards with market conditions

The Company grants PSUs to senior management. In each case, the awards cliff vest three years following the grant date. PSUs are settled in shares of the Company's common stock. Depending on the Company's overall performance relative to the applicable measures, the size of the PSU awards are subject to adjustment, up or down, resulting in awards at the end of the performance period that can range from 0% to 225% of target. The Company ratably recognizes the expense over the applicable service period for each grant of PSUs. The fair value of PSUs with market conditions is determined by using a Monte Carlo simulation. For the awards granted in February 2025, 2024, and 2023, the number of PSUs that may be earned and vest is based on total shareholder return (“TSR”) relative to the component companies of the Russell 2000 Index over a three-year performance period.

The COVID-19 pandemic brought on unique and unprecedented challenges to the Company, particularly in the hearing health and medtech markets. Many of the Company's executive compensation programs were affected, including outstanding PSU awards. Due to the impact of the COVID-19 pandemic on the Company’s overall business performance, effective February 8, 2021, the Company’s Compensation Committee approved certain modifications to PSUs granted in February 2020. For the awards granted in February 2020 (the “2020 PSUs”), the number of PSUs that may be earned and vest was originally based on TSR relative to the component companies of the S&P Semiconductor Select Industry Index over a three-year performance period. The modified award replaces the S&P Semiconductor Select Industry Index with the Russell 2000 Index. The Company is a member of the Russell 2000 Index, which represents a broader, more diversified index that better aligns with the Company's strategy. Service conditions were not modified. The modification of the 2020 PSUs affected eight employees and resulted in total incremental compensation expense of $4.7 million, which was recognized over the remaining service period. In February 2023, the 2020 PSUs were converted from 261,770 PSUs to 120,677 shares of common stock based on achievement of the modification conditions.

Awards with performance conditions

On February 18, 2025 the Company granted a special PSU award to its Chief Executive Officer of 81,788 target PSUs with a grant date fair value of $1.5 million. This award is eligible to vest based on the achievement of a minimum non-GAAP diluted earnings per share amount and specified revenue goals over a potential five-year performance period. If the goals are not met during the initial three-year performance period, it may be extended an additional two years at a reduced payout level. Achievement could range from 0% to 400% of the target number of PSUs. The Company will recognize the expense for this award over the applicable service period and adjust the expense for the expected achievement of performance conditions as necessary.

The following table summarizes the Company's PSU activity:
Share units (1)
Weighted-average grant date fair value
Unvested at December 31, 2024842,866 $27.25 
Granted455,018 24.08 
Vested (2)
(221,616)29.92 
Unvested at December 31, 20251,076,268 $25.36 
(1) The number of PSUs shown reflects 100% of the target award; actual payouts may differ based on performance.
(2) The number of PSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.

The fair value of PSUs vested during the year ended December 31, 2025 was $4.1 million. At December 31, 2025, $8.5 million of unrecognized compensation expense related to PSUs is expected to be recognized over a weighted-average period of 1.2 years.
v3.25.4
Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities
14. Commitments and Contingent Liabilities

From time to time, the Company is involved in various legal proceedings and claims arising in the ordinary course of its business. The majority of these claims and proceedings relate to commercial, warranty, employment, and intellectual property matters. Although the ultimate outcome of any legal proceeding or claim cannot be predicted with certainty, based on present information, including management’s assessment of the merits of the particular claim, the Company believes that the disposition of these legal proceedings or claims, individually or in the aggregate, after taking into account recorded accruals and the availability and limits of insurance coverage, will not have a material adverse effect on its cash flow, results of operations, or financial condition.

The Company owns many patents and other intellectual property pertaining to its products, technology, and manufacturing processes. Some of the Company's patents have been and may continue to be infringed upon or challenged by others. In appropriate cases, the Company has taken and will take steps to protect and defend its patents and other intellectual property, including through the use of legal proceedings in various jurisdictions around the world. Such steps have resulted in and may continue to result in retaliatory legal proceedings, including litigation or other legal proceedings in various jurisdictions and forums around the world alleging infringement by the Company of patents owned by others. The costs of investigations and legal proceedings relating to the enforcement and defense of the Company’s intellectual property may be substantial. Additionally, in multi-forum disputes, the Company may incur adverse judgments with regard to certain claims in certain jurisdictions and forums while still contesting other related claims against the same opposing party in other jurisdictions and forums.

Intellectual Property Infringement Claims

The Company may, on a limited customer specific basis, provide contractual indemnities for certain losses that arise out of claims that its products infringe on the intellectual property of others. It is not possible to determine the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Historically, the Company has not made significant payments under such indemnity arrangements. The Company’s legal accruals associated with these indemnity arrangements were not significant at December 31, 2025 and 2024.
v3.25.4
Employee Benefit Plans (Notes)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans
15. Employee Benefit Plans

Knowles sponsors its own defined contribution plans. The Company's expense relating to defined contribution plans was $6.5 million, $5.5 million, and $5.2 million on a continuing operations basis for the years ended December 31, 2025, 2024, and 2023, respectively.

As of December 31, 2025, Knowles sponsors three defined benefit pension plans to certain non-U.S. employees. The two plans in the U.K. are closed to new participants and substantially all participants in these plans are retirees. The plan in the Philippines is open to new participants. These plans are considered direct obligations of the Company and have been recorded within the accompanying Consolidated Financial Statements. The Company divested its plan in Taiwan with the sale of CMM on December 27, 2024. See Note 2. Discontinued Operations.
Non-U.S. Defined Benefit Pension Plans

Obligations and Funded Status

The following tables summarize the balance sheet impact, including the benefit obligations, assets, and funded status associated with the Company's defined benefit plans for non-U.S. participants:

December 31,
(in millions)20252024
Change in benefit obligation:  
Benefit obligation at beginning of year$36.9 $43.5 
Service cost0.2 0.2 
Interest cost2.1 1.9 
Benefits paid(2.4)(2.4)
Actuarial gain(0.5)(3.4)
Business divestiture (1)
— (1.3)
Settlements and curtailments— (0.9)
Currency translation and other2.3 (0.7)
Benefit obligation at end of year38.6 36.9 
Change in plan assets:
Fair value of plan assets at beginning of year37.0 43.1 
Actual return on plan assets2.2 (1.1)
Company contributions1.0 0.9 
Benefits paid(2.4)(2.4)
Business divestiture (1)
— (1.5)
Settlements and curtailments— (0.9)
Currency translation and other2.3 (1.1)
Fair value of plan assets at end of year40.1 37.0 
Funded status$1.5 $0.1 
(1)     Reflects the divestiture of the Company's defined benefit plan in Taiwan in connection with the sale of CMM on December 27, 2024 .

December 31,
(in millions)20252024
Amounts recognized in the Consolidated Balance Sheets consist of:  
Other assets and deferred charges$4.2 $3.8 
Other liabilities(2.7)(3.7)
Funded status$1.5 $0.1 
Accumulated other comprehensive loss:
Net actuarial losses$17.4 $18.6 
Prior service cost1.1 1.2 
Deferred taxes(2.6)(2.7)
Total accumulated other comprehensive loss, net of tax15.9 17.1 
Accumulated benefit obligation$37.9 $36.4 
Pension plans with projected benefit obligations in excess of plan assets consisted of the following:
December 31,
 (in millions)20252024
Projected benefit obligation$24.0 $23.3 
Fair value of plan assets21.2 19.5 

Pension plans with accumulated benefit obligations in excess of plan assets consisted of the following:
December 31,
 (in millions)20252024
Accumulated benefit obligation$23.6 $22.9 
Fair value of plan assets21.2 19.5 

Net Periodic Benefit Cost

Components of the net periodic benefit cost were as follows:
Years Ended December 31,
(in millions)202520242023
Service cost$0.2 $0.2 $0.2 
Interest cost2.1 1.9 2.0 
Expected return on plan assets(2.2)(2.4)(2.1)
Amortization of prior service cost 0.1 — 0.1 
Amortization of recognized actuarial loss0.6 0.6 0.5 
Other— 0.1 — 
Total net periodic benefit cost$0.8 $0.4 $0.7 
The components of net periodic benefit cost other than service cost are presented in "Other (income) expense, net" on the Consolidated Statements of Earnings. The service cost component is presented within "Cost of goods sold," "Research and development expenses," and "Selling and administrative expenses" on the Consolidated Statements of Earnings based on the nature of services performed by the related employees.

Assumptions

The Company determines actuarial assumptions on an annual basis. The actuarial assumptions used for the Company’s defined benefit plans for non-U.S. participants will vary depending on the applicable country and as such, the tables below include these assumptions by country, as well as in total.
The assumptions used in determining the benefit obligations were as follows:
December 31,
 20252024
Discount rate
Philippines6.20 %6.00 %
Taiwan (2)
n/a1.50 %
United Kingdom5.50 %5.48 %
Weighted-average5.52 %5.49 %
Average wage increase
Philippines5.50 %5.50 %
Taiwan (2)
n/a4.00 %
United Kingdom3.95 %4.35 %
Weighted-average4.04 %4.42 %
(2) The Company's defined benefit plan in Taiwan was divested with the sale of CMM on December 27, 2024. Prior to the sale, the Taiwan benefit obligation was remeasured using the above discount rate and the plan assets were remeasured to fair value.

The assumptions used in determining the net periodic benefit cost were as follows:
Years Ended December 31,
 202520242023
Discount rate
Philippines6.00 %6.20 %7.50 %
Taiwann/a1.50 %1.75 %
United Kingdom5.48 %4.60 %4.84 %
Weighted-average5.49 %4.47 %4.71 %
Average wage increase
Philippines5.50 %4.00 %4.00 %
Taiwann/a4.00 %4.00 %
United Kingdom4.35 %4.20 %4.35 %
Weighted-average4.42 %4.17 %4.30 %
Expected return on plan assets
Philippines6.75 %7.25 %7.50 %
Taiwann/a4.00 %1.75 %
United Kingdom5.64 %5.77 %5.17 %
Weighted-average5.65 %5.68 %5.00 %
The Company’s discount rate assumptions are determined by developing yield curves based on high quality corporate bonds with maturities matching the plans’ expected benefit payment streams. The plans’ expected cash flows are then discounted by the resulting year-by-year spot rates.

Plan Assets

The primary financial objective of the plans is to secure participant retirement benefits. Accordingly, the key objective in the plans’ financial management is to promote stability and, to the extent appropriate, growth in the funded status. Related and supporting financial objectives are established in conjunction with a review of current and projected plan financial requirements.
As it relates to the funded defined benefit pension plans, the Company’s funding policy is consistent with the funding requirements of applicable local non-U.S. laws. The Company is responsible for overseeing the management of the investments of the plans’ assets and otherwise ensuring that the plans’ investment programs are in compliance with applicable local law, other relevant legislation, and related plan documents. Where relevant, the Company has retained professional investment managers to manage the plans’ assets and investment process. The investment managers, in executing their investment processes, have the authority and responsibility to select appropriate investments in the asset classes specified by the terms of their applicable prospectus or investment manager agreements with the plans.

The assets of the plans are invested to achieve an appropriate return for the plans consistent with a prudent level of risk. The asset return objective is to achieve, as a minimum over time, the passively managed return earned by market index funds, weighted in the proportions outlined by the asset class exposures identified in the plans’ strategic allocation. The expected return on plan assets assumptions are developed through analysis of historical market returns, statistical analysis, current market conditions, and the past experience of plan asset investments.

Fair Value Measurements

The fair values of plan assets by asset category within the ASC 820 hierarchy were as follows:
 December 31, 2025December 31, 2024
(in millions)Level 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3Total Fair Value
Asset category:       
Fixed income investments$3.2 $17.3 $— $20.5 $3.1 $16.0 $— $19.1 
Common stock funds — 7.3 — 7.3 — 6.7 — 6.7 
Real estate funds— 2.7 — 2.7 — 2.5 — 2.5 
Cash and equivalents1.3 — — 1.3 1.3 — — 1.3 
Other4.8 3.5 — 8.3 4.2 3.2 — 7.4 
Total$9.3 $30.8 $— $40.1 $8.6 $28.4 $— $37.0 

See Note 10. Hedging Transactions and Derivative Instruments for additional information on the fair value hierarchy. There were no significant transfers between Level 1 and Level 2 assets during the years ended December 31, 2025 and 2024.

Fixed income investments include government and municipal securities and corporate bonds, which are valued based on yields currently available on comparable securities of issuers with similar credit ratings.

Common stock funds consist of mutual funds and collective trusts. Mutual funds are valued by obtaining quoted prices from nationally recognized securities exchanges. Collective trusts are valued using net asset value (the "NAV") as of the last business day of the year. The NAV is based on the underlying value of the assets owned by the fund minus its liabilities and then divided by the number of shares outstanding. The value of the underlying assets is based on quoted prices in active markets.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
Future Estimates

Benefit Payments

Estimated future benefit payments to retirees, which reflect expected future service, are as follows:
(in millions)
2026$2.5 
20272.4 
20282.6 
20292.6 
20302.5 
2031-203513.7 

Contributions

Generally, annual contributions are made at such times and in such amounts as required by law and agreed with the trustees of the non-U.S. defined benefit plans. The Company estimates it will pay $0.9 million during the year ended December 31, 2026 related to contributions to these plans. This amount may vary based on updated funding agreements with the trustees of these plans.
v3.25.4
Other Comprehensive (Loss) Earnings
 12 Months Ended
Dec. 31, 2025
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Other Comprehensive (Loss) Earnings
16. Other Comprehensive Earnings

The amounts recognized in other comprehensive earnings (loss) were as follows:
 Year Ended December 31, 2025
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$10.7 $— $10.7 
Employee benefit plans1.1 (0.1)1.0 
Changes in fair value of cash flow hedges2.2 (0.5)1.7 
Total other comprehensive earnings$14.0 $(0.6)$13.4 
 Year Ended December 31, 2024
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$(6.2)$— $(6.2)
Employee benefit plans(0.6)(0.1)(0.7)
Changes in fair value of cash flow hedges(1.8)0.4 (1.4)
Total other comprehensive loss$(8.6)$0.3 $(8.3)
 Year Ended December 31, 2023
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$(6.1)$— $(6.1)
Employee benefit plans(0.1)0.2 0.1 
Changes in fair value of cash flow hedges(2.3)0.6 (1.7)
Total other comprehensive loss$(8.5)$0.8 $(7.7)
The following table summarizes the changes in balances of each component of accumulated other comprehensive loss, net of tax:
(in millions)Cash flow hedgesEmployee benefit plans
Cumulative foreign currency translation adjustments (1)
Total
Balance at January 1, 2024$(0.7)$(16.2)$(112.9)$(129.8)
Other comprehensive loss, net of tax(1.4)(0.7)(6.2)(8.3)
Balance at December 31, 2024(2.1)(16.9)(119.1)(138.1)
Other comprehensive earnings, net of tax1.7 1.0 10.7 13.4 
Balance at December 31, 2025$(0.4)$(15.9)$(108.4)$(124.7)
(1) For the year ended December 31, 2024, the cumulative foreign currency translation loss in other comprehensive loss includes a $3.4 million foreign currency translation gain reclassified to earnings upon the sale of CMM. See Note 2. Discontinued Operations for more information.

The following table summarizes the amounts reclassified from accumulated other comprehensive loss to earnings:
Years Ended December 31,
(in millions)Statement of Earnings Line202520242023
Pension and post-retirement benefit plans:
Amortization or settlement of actuarial losses and prior service costsOther expense, net$0.7 $0.6 $0.6 
TaxProvision for (benefit from) income taxes(0.1)(0.1)(0.1)
Net of tax$0.6 $0.5 $0.5 
Cash flow hedges:
Net (gains) losses reclassified into earningsCost of goods sold$(0.2)$1.5 $2.7 
TaxProvision for (benefit from) income taxes0.1 (0.4)(0.5)
Net of tax$(0.1)$1.1 $2.2 
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information
17. Segment Information

The Company determines its operating segments consistent with the manner in which it manages its operations and evaluates performance for internal review and decision making. These segments were determined in accordance with ASC 280, Segment Reporting. The Company’s segments engage in business activities from which they earn revenues and incur expenses, have discrete financial information available, and whose financial results are regularly reviewed and used by the chief operating decision maker ("CODM") to evaluate segment performance, allocate resources, and determine management incentive compensation.

The Company's CODM is the President and Chief Executive Officer, who reviews the results and performance for each operating segment to manage operations and make decisions regarding resource allocations. The financial measures used by the CODM to assess segment performance include Revenues, Adjusted cost of goods sold, Adjusted research and development expenses, Adjusted selling and administrative expenses, and Segment adjusted earnings before interest and income taxes. The CODM uses these financial metrics to view operating trends, benchmark performance between periods, and to monitor budget-to-actual variances.

The Precision Devices segment aggregates three operating segments into one reportable segment based on similar economic characteristics stemming from similar products, production processes, type or class of customers, and distribution methods. The MedTech & Specialty Audio reportable segment has one operating segment. The Company's two reportable segments are as follows:

• Precision Devices ("PD")
Our PD segment specializes in the custom design and delivery of high performance capacitor products and RF solutions primarily serving the defense, industrial, medtech, and electrification/energy markets. PD has sales, support, and engineering facilities in North America, Europe, and Asia as well as manufacturing facilities in North America and Asia.

• MedTech & Specialty Audio ("MSA")
Our MSA segment designs and manufactures balanced armature speakers and microphones used in hearing health and specialty audio applications that serve the medtech and industrial markets. MSA has sales, support, and engineering facilities in North America, Europe, and Asia, as well as manufacturing facilities in Asia.

Information regarding the results of the Company's reportable segments is as follows:

For the Year Ended December 31, 2025
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$328.9 $264.3 $593.2 
Adjusted cost of goods sold200.0 129.2 329.2 
Adjusted research and development expenses16.3 18.6 34.9 
Adjusted selling and administrative expenses48.9 14.3 63.2 
Other segment items (1)
0.4 (0.2)0.2 
Segment adjusted earnings before interest and income taxes$63.3 $102.4 $165.7 
Less:
Corporate expenses45.6 
Stock-based compensation expense28.4 
Intangibles amortization expense16.2 
Interest expense, net9.3 
Impairment charges3.6 
Restructuring charges3.8 
Production transfer costs1.7 
Acquisition-related costs0.8 
Other (2)
0.5 
Plus:
Dividend income6.2 
Transition services credit2.0 
Earnings before income taxes and discontinued operations$64.0 
(1) Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(2) Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.
For the Year Ended December 31, 2024
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$300.0 $253.5 $553.5 
Adjusted cost of goods sold186.6 119.9 306.5 
Adjusted research and development expenses16.0 18.0 34.0 
Adjusted selling and administrative expenses47.2 13.3 60.5 
Other segment items (1)
0.2 — 0.2 
Segment adjusted earnings before interest and income taxes$50.0 $102.3 $152.3 
Less:
Corporate expenses44.4 
Stock-based compensation expense22.2 
Intangibles amortization expense17.0 
Interest expense, net16.3 
Restructuring charges3.4 
Production transfer costs4.2 
Acquisition-related costs8.4 
Other (2)
1.7 
Earnings before income taxes and discontinued operations$34.7 
(1) Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(2) Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.
For the Year Ended December 31, 2023
(in millions)Precision DevicesMedTech & Specialty AudioTotal
Revenues$221.4 $235.4 $456.8 
Adjusted cost of goods sold132.2 115.3 247.5 
Adjusted research and development expenses12.3 17.0 29.3 
Adjusted selling and administrative expenses36.1 13.3 49.4 
Other segment items (1)
0.3 — 0.3 
Segment adjusted earnings before interest and income taxes$40.5 $89.8 $130.3 
Less:
Corporate expenses42.1 
Stock-based compensation expense22.8 
Intangibles amortization expense7.5 
Interest expense, net5.4 
Restructuring charges3.3 
Production transfer costs0.4 
Acquisition-related costs9.4 
Other (2)
2.1 
Earnings before income taxes and discontinued operations$37.3 
(1) Other segment items primarily include foreign currency exchange gains and losses and other non-operating income and expense.
(2) Other expenses include non-recurring professional service fees related to the execution of various reorganization projects and foreign currency exchange rate impacts on restructuring balances.

Other information regarding the Company's reportable segments is as follows:
Years Ended December 31,
(in millions)202520242023
Depreciation and amortization:
Precision Devices$26.1 $27.5 $15.8 
MedTech & Specialty Audio8.5 8.3 8.2 
Corporate1.7 1.8 2.2 
Total$36.3 $37.6 $26.2 
Capital expenditures:
Precision Devices$24.9 $6.2 $7.6 
MedTech & Specialty Audio6.2 5.3 4.6 
Corporate1.0 0.4 — 
Total$32.1 $11.9 $12.2 

Information regarding assets of the Company's reportable segments is as follows:
Total Assets
(in millions)December 31, 2025December 31, 2024December 31, 2023
Precision Devices$554.7 $619.9 $628.3 
MedTech & Specialty Audio399.7 410.6 391.7 
Corporate (1)
96.7 87.7 7.8 
Discontinued operations— — 435.0 
Total$1,051.1 $1,118.2 $1,462.8 
(1) Corporate assets include Syntiant Corp. preferred stock of $83.4 million and $77.2 million at December 31, 2025 and 2024, respectively, and a note receivable from Syntiant totaling $5.9 million and $6.4 million at December 31, 2025 and 2024, respectively. Corporate assets also include the portion of right-of-use operating lease assets subleased by Syntiant, which totaled $5.2 million and $0.3 million at December 31, 2025 and 2024, respectively.

The following table details revenues by geographic location. Revenues are attributed to regions based on the location of the Company's direct customer, which in some instances is an intermediary and not necessarily the end user. Long-lived assets are comprised of net property, plant, and equipment and operating lease right-of-use assets. These assets have been classified based on the geographic location of where they reside. The Company's businesses are based primarily in North America, Asia, and Europe.
 RevenuesLong-Lived Assets
 Years Ended December 31,December 31,
(in millions)20252024202320252024
United States$248.8 $236.0 $160.8 $93.9 $81.3 
Asia226.1 187.1 176.6 62.2 52.9 
Europe95.4 103.2 101.3 1.0 2.8 
Other Americas12.0 12.1 6.8 2.2 1.7 
Other10.9 15.1 11.3 — — 
Total$593.2 $553.5 $456.8 $159.3 $138.7 

The Company's customers that accounted for 10% or more of total revenues in 2025 were WS Audiology A/S and TTI, Inc. WS Audiology is a hearing aid manufacturer and TTI is a distributor of electromechanical components. They each represented the following percentages of total Company revenues:
Years Ended December 31,
202520242023
WS Audiology A/S11 %14 %16 %
TTI Inc.10 %**
v3.25.4
Earnings per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings per Share
18. Earnings per Share

Basic and diluted earnings per share were computed as follows:
 Years Ended December 31,
(in millions, except per share amounts)202520242023
Earnings from continuing operations$50.9 $23.4 $65.6 
(Loss) earnings from discontinued operations, net(6.7)(261.2)6.8 
Net earnings (loss)$44.2 $(237.8)$72.4 
Basic earnings (loss) per common share:
Earnings from continuing operations$0.59 $0.26 $0.72 
(Loss) earnings from discontinued operations, net(0.08)(2.93)0.08 
Net earnings (loss)$0.51 $(2.67)$0.80 
Weighted-average shares outstanding 86.4 88.9 90.9 
Diluted earnings (loss) per common share:
Earnings from continuing operations$0.58 $0.26 $0.72 
(Loss) earnings from discontinued operations, net(0.08)(2.90)0.07 
Net earnings (loss)$0.50 $(2.64)$0.79 
Diluted weighted-average shares outstanding (1)
88.0 90.1 91.6 
(1) In accordance with ASC 260, Earnings Per Share, the control number for determining whether including potential common shares in the diluted EPS computation would be antidilutive is earnings from continuing operations.

For the years ended December 31, 2025, 2024, and 2023, the weighted-average number of anti-dilutive potential common shares for stock-based awards excluded from the calculation of diluted earnings per share above was 0.8 million, 0.7 million, and 1.9 million, respectively.
v3.25.4
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Account
SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS
Years Ended December 31, 2025, 2024, and 2023

Allowance for Doubtful Accounts (in millions)
Balance at
Beginning
of Year
Charged to Cost and
Expense (1)
Accounts
Written Off		Balance at
End of Year
Year Ended December 31, 2025
Allowance for Doubtful Accounts$0.1 — (0.1)$— 
Year Ended December 31, 2024
Allowance for Doubtful Accounts$0.2 (0.1)— $0.1 
Year Ended December 31, 2023
Allowance for Doubtful Accounts$0.2 0.1 (0.1)$0.2 
(1) Net of recoveries on previously reserved or written-off balances.
  
Deferred Tax Valuation Allowance (in millions)
Balance at
Beginning
of Year		AdditionsReductionsBalance at
End of Year
Year Ended December 31, 2025
Deferred Tax Valuation Allowance$48.7 3.4 (6.3)$45.8 
Year Ended December 31, 2024
Deferred Tax Valuation Allowance$25.5 23.2 — $48.7 
Year Ended December 31, 2023
Deferred Tax Valuation Allowance$39.7 0.9 (15.1)$25.5 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
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 Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our commitment extends to various programs and processes to stay informed about and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents. This includes regular scans, penetration tests, and vulnerability assessments to identify any potential threats or vulnerabilities in our systems. We also conduct "tabletop" exercises to simulate cybersecurity incidents to enhance our readiness and resilience in the face of potential cybersecurity threats. These exercises are conducted at both the technical level and senior management level. We have engaged external service providers, where appropriate, including leading cybersecurity firms, to assess, test or otherwise assist with aspects of our security processes.

We have a well-defined cybersecurity incident response plan aimed at facilitating an effective response and handling of cybersecurity incidents. The incident response plan outlines roles and responsibilities, criteria for measuring the severity of a cybersecurity incident, and provides for Audit Committee and Board briefings as appropriate. We have also implemented controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner.

Our employees participate in a security awareness program, receiving training on identifying potential cybersecurity risks and safeguarding our resources and information. This training is reinforced by testing initiatives, including periodic phishing tests. We also assess the cybersecurity risks presented by third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. In addition, we maintain business continuity and disaster recovery plans, as well as cybersecurity insurance.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]
To date, we have not identified risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. That said, while we continually work to safeguard the information systems we use, and the proprietary, confidential and personal information residing therein, and mitigate potential risks, there can be no assurance that such actions will be sufficient to prevent cybersecurity incidents or mitigate all potential risks to such systems, networks, and data or those of our third party providers. See "Item 1A. Risk Factors – Our business and operations could suffer in the event of security breaches, cybersecurity incident, other unauthorized disclosures, or network disruptions."
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee of the Board of Directors considers cybersecurity risk and other information technology risk as part of its risk oversight function. Our head of Internal Audit reports directly to the Audit Committee and is responsible for reviewing with the Committee our company-wide enterprise risk assessment, which includes an evaluation of cybersecurity risks and threats. In addition, the Audit Committee separately receives regular reports from our Chief Information Officer on, among other things, our cybersecurity risks and threats, the status of projects to strengthen our information security systems, and assessments of our security program. The Chair of the Audit Committee regularly reports to the full Board regarding its activities, including those related to our cybersecurity risk management program.
Cybersecurity Risk Role of Management [Text Block] He, in turn, provides regular updates on these matters to our Chief Financial Officer and our Chief Transformation Officer and works closely with our Legal department to oversee compliance with legal, regulatory, and contractual security requirements. In addition, in conjunction with Internal Audit, our CIO supervises any retained external cybersecurity consultants.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CIO has extensive cybersecurity knowledge and skills gained from various roles in information technology and security for over 30 years, including serving as the Chief Information Officer at two large public companies. Our CIO is supported by a team of enterprise information system and security risk professionals. The CIO receives regular updates on cybersecurity matters, results of mitigation efforts, and cybersecurity incident response and remediation.
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
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Basis of Accounting
Financial Statement Presentation - The Consolidated Financial Statements included in this Annual Report on Form 10-K are presented in conformity with U.S. generally accepted accounting principles ("U.S. GAAP").

Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and disclosures. These estimates may be adjusted due to changes in future economic, industry, or customer financial conditions, as well as changes in technology or demand. Estimates are used in accounting for, among other items, inventory reserves, restructuring reserves, warranty reserves, pension and post-retirement plans, stock-based compensation, useful lives for depreciation and amortization of long-lived assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, deferred tax assets, uncertain income tax positions, changes in tax laws, and contingencies. Management uses historical experience and all available information to make these estimates. Actual results may ultimately differ from estimates, although management does not believe such differences would materially affect the financial statements in any individual year. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the Consolidated Financial Statements in the period that they are determined.

Corrections of Errors - During the year ended December 31, 2025, the Company identified an error in its historical financial results related to stock-based compensation expense for those individuals that are nearing or have reached retirement eligibility as defined by the equity compensation plan. This error resulted in the understatement of stock-based compensation expense for the years ended December 31, 2024, 2023, and 2022. During the year ended December 31, 2025, the Company corrected its stock-based compensation expense, which resulted in increases to Selling and administrative expenses of $0.9 million, Research and development expenses of $0.1 million, and Cost of goods sold of $0.1 million. This correction decreased Earnings before income taxes and discontinued operations and Earnings from continuing operations by $1.1 million and $1.0 million, respectively, for the year ended December 31, 2025.

In addition, during the year ended December 31, 2025, the Company identified an error in its historical financial results related to working capital adjustments and costs associated with the disposal of CMM in the fourth quarter of 2024. This error resulted in the overstatement of the gain on disposal of business reflected in Loss from discontinued operations, net during the year ended December 31, 2024. The Company corrected this error during the year ended December 31, 2025, resulting in an increase to Loss from discontinued operations, net of $1.3 million.

The Company evaluated the impact of these errors in accordance with Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections, and determined that they were not material to the consolidated financial statements for the current year or to any previously reported annual or interim periods.
Transactions with Syntiant - As partial consideration for the sale of CMM on December 27, 2024, the Company received Series D-2 preferred stock of Syntiant Corp. See Note 2. Discontinued Operations for additional information related to this transaction. The Company accounts for this investment using the cost method, measured at its historical cost, which was the fair value of the consideration received from Syntiant for the sale of CMM, plus any non-cash dividends earned. The balance of this investment was $83.4 million and $77.2 million as of December 31, 2025 and 2024, respectively, and is classified as "Investment in affiliate" on the Consolidated Balance Sheet. During the year ended December 31, 2025, the Company recorded a non-cash dividend on this investment in the form of additional Syntiant Series D-2 shares with a value of $6.2 million, which is reflected as "Dividend income" on the Consolidated Statement of Earnings.

In connection with the sale of CMM, the Company provided financing of $6.4 million to Syntiant, which was utilized to fund Syntiant's requirement to have $40.0 million of cash on its balance sheet at closing. This note is junior to Syntiant's debt financing and matures on March 28, 2029 and bears interest at the prime rate until six months after the closing date of the sale, at which time the interest rate increased to 13.0%. The balance of this note was $5.9 million and $6.4 million as of December 31, 2025 and 2024, respectively, and is classified within "Other assets and deferred charges" on the Consolidated Balance Sheet.

The Company shares in certain separation costs with Syntiant related to the sale of CMM pursuant to a credit of up to $13.5 million. Under the terms of the separation cost credit, the Company is required to reimburse Syntiant 100% for the first $7.0 million of separation costs incurred and 50% for those costs in excess of $7.0 million, up to the maximum established separation cost credit of $13.5 million. The balance of the separation cost credit was $4.8 million and $13.5 million at December 31, 2025 and 2024, respectively and is classified within "Other accrued expenses" on the Consolidated Balance Sheet. As the balance of the separation cost credit is now below the $7.0 million contractual threshold, future costs will be shared equally by the Company and Syntiant.

The Company leases portions of its facilities to Syntiant, for which lease payments to date of $2.8 million have been applied to the separation credit. The Company also subleases portions of its manufacturing facilities to Syntiant at cost. The portion of operating lease right-of-use assets subleased by Syntiant totaled $5.2 million and $0.3 million at December 31, 2025 and 2024, respectively.

The Company recognized revenue totaling $17.3 million during the year ended December 31, 2025 related to transactions with Syntiant. These revenues are reflected in the results of the MedTech & Specialty Audio segment. Receivables, net include $4.2 million and $1.8 million due from Syntiant at December 31, 2025 and 2024, respectively, related to these sales transactions and amounts related to the sale of CMM.
During the year ended December 31, 2025 the Company engaged with Syntiant to sell certain machinery and equipment associated with the MedTech & Specialty Audio segment for a nominal selling price. The Company recorded an impairment charge of $3.6 million for the year ended December 31, 2025 to write down the carrying value of these assets to fair value based on the selling price. 		 
Cash and Cash Equivalents
Cash and Cash Equivalents - Cash and cash equivalents include cash on hand, demand deposits, and temporary cash investments with original maturities less than three months.
  
Allowance for Doubtful Accounts
Allowance for Doubtful Accounts – The Company maintains allowances for estimated losses as a result of customers' inability to make required payments. Management evaluates the aging of the accounts receivable balances, the financial condition of its customers, historical trends, and relevant forecasts to estimate the amount of accounts receivable that may not be collected in the future and records the appropriate provision.
  
Inventories
Inventories – Inventories are stated at the lower of cost or net realizable value, determined on the first-in, first-out ("FIFO") basis. The value of inventory may decline as a result of surplus inventory, price reductions, or technological obsolescence. It is the Company’s policy to carry reserves against the carrying value of inventory when items have no future demand (obsolete inventory) and additionally, where inventory items on hand have demand, yet have insufficient forecasted activity to consume the entire stock within a reasonable period. The Company recognizes reserves against the carrying value of such at-risk inventory items after considering the nature of the risk and any mitigating factors.
  
Property, Plant and Equipment Property, Plant, and Equipment - Property, plant, and equipment includes the historic cost of land, buildings, equipment, and significant improvements to existing plant and equipment or, in the case of acquisitions, a fair market value appraisal of such assets completed at the time of acquisition. Property, plant, and equipment also includes the cost of purchased software. Expenditures for maintenance, repairs, and minor renewals are expensed as incurred. When property or equipment is sold or otherwise disposed of, the related cost and accumulated depreciation is removed from the respective accounts, and the gain or loss realized on disposition is reflected in earnings. The Company historically depreciates its assets on a straight-line basis over their estimated useful lives as follows: buildings and improvements 5 to 31.5 years; machinery and equipment 1.5 to 7 years; furniture and fixtures 2 to 5 years; vehicles 3 to 5 years; and software 3 to 5 years.  
Lessee, Leases
Leases - The Company determines whether an arrangement is a lease at contract inception. Lease liabilities and right-of-use assets are recognized on the lease commencement date based on the net present value of fixed lease payments over the lease term. The Company includes options to extend or terminate a lease within the lease term when it is reasonably certain the option will be exercised. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Lease liabilities represent an obligation to make lease payments arising from a lease while right-of-use assets represent a right to use an underlying asset during the lease term. Right-of-use assets include prepaid fixed lease payments and exclude lease incentives. As the Company's leases do not have a readily determinable implicit rate, the Company uses its incremental borrowing rate to determine the present value of fixed lease payments based on information available at the lease commencement date.

Fixed lease expense for operating leases and right-of-use asset amortization for finance leases are generally recognized on a straight-line basis over the lease term. Variable lease payments, such as payments based on an index rate or usage, are expensed as incurred and excluded from lease liabilities and right-of-use assets. The Company combines lease components and nonlease components such as maintenance into a single lease component, which results in the capitalization of all fixed payments within lease liabilities and right-of-use assets.
  
Derivative Instruments
Derivative Instruments - The Company uses derivative financial instruments to hedge its exposure to foreign currency exchange rate risk. The Company does not enter into derivative financial instruments for speculative purposes and does not have a material portfolio of derivative financial instruments. Derivative financial instruments used for hedging purposes must be designated and effective as a hedge of the identified risk exposure at inception of the contract. The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivatives is recorded as a component of other comprehensive earnings and subsequently recognized in net earnings when the hedged items impact earnings.
  
Goodwill and Intangible Assets  
Goodwill and Indefinite-Lived Intangible Assets - Goodwill represents the excess of purchase consideration over the fair value of the net assets of businesses acquired. Goodwill and certain other intangible assets deemed to have indefinite lives are not amortized. Instead, goodwill and indefinite-lived intangible assets are tested for impairment at least annually, or more frequently if there are events or circumstances indicating the carrying value of individual reporting units or assets may exceed their respective fair values on a more likely than not basis (that is, a likelihood of more than 50 percent). The Company performs its annual impairment assessment in the fourth quarter of each year on October 1.

Recoverability of goodwill is measured at the reporting unit level. The Company has four reporting units - High Performance Capacitors ("HPC"), Radio Frequency Microwave Filters ("RFMW"), Cornell Dubilier ("CD"), and MedTech & Specialty Audio ("MSA"). The goodwill balances associated with these reporting units at December 31, 2025 were as follows: $43.6 million for HPC, $19.6 million for RFMW, $69.4 million for CD, and $137.7 million for MSA.

Management first reviews relevant qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If management determines it is more likely than not that the carrying value of a reporting unit might be impaired, a quantitative analysis is performed.

The quantitative impairment assessment compares the fair value of each reporting unit to its carrying value. Impairment is measured as the amount by which the carrying value of a reporting unit exceeds its fair value. Fair value is estimated using a discounted cash flow model that includes the Company’s market participant assumptions, forecasted future cash flows based on historical performance and future estimated results, and other assumptions which are considered reasonable and inherent in the discounted cash flow analysis. Significant assumptions used in the model included forecasted revenue and terminal growth rates, profit margins, income tax rates, capital expenditures, working capital requirements, and the Company's weighted average cost of capital. These assumptions require significant judgment and actual results may differ from estimated amounts.
The Company performed a qualitative goodwill impairment test for the HPC, RFMW, and MSA reporting units and a quantitative impairment test for the CD reporting unit as of October 1, 2025 . No goodwill impairment charges were recorded in continuing operations for any reporting unit for the years ended December 31, 2025, 2024, or 2023.

Potential circumstances that could have a negative effect on the fair value of our reporting units include, but are not limited to, lower than forecasted revenue and terminal growth rates, decreased profit margins, higher income taxes, increased capital expenditures, higher working capital requirements, and an increase in the weighted average cost of capital. A reduction in the estimated fair value of the reporting units could trigger an impairment in the future. The Company cannot predict the occurrence of certain events or changes in circumstances that might adversely affect the carrying value of goodwill and intangible assets.

In testing its indefinite-lived trademarks for impairment, the Company uses a relief-from-royalty method to calculate and compare the fair value of the intangible asset to its carrying value. This method estimates the fair value of trademarks by calculating the present value of royalty income that could hypothetically be earned by licensing the trademark to a third party. Any excess of carrying value over the estimated fair value is recognized as an impairment loss. No impairment of indefinite-lived trademarks was indicated for the years ended December 31, 2025, 2024, or 2023.

See Note 6. Goodwill and Other Intangible Assets for additional information on goodwill and indefinite-lived intangible assets.

Other Intangible and Long-Lived Assets - Other intangible assets with determinable lives consist primarily of customer relationships, developed technology, and trademarks, which are amortized over estimated useful lives typically ranging from 4 to 15 years.

Long-lived assets and intangible assets with determinable lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows is produced and compared to its carrying value. If an asset is determined to be impaired, the loss is measured by the excess of the carrying amount of the asset over its fair value as determined by an estimate of discounted future cash flows.
Investments in and Advances to Affiliates
Investment in Affiliate - This investment reflects Series D-2 preferred stock of Syntiant Corp., a non-marketable equity security. This investment is accounted for using the measurement alternative at cost. The carrying amount is remeasured to its fair value when observable price changes occur (observable prices in orderly transactions for an identical or similar investment of the same issuer), or when it is impaired. Any adjustments to the carrying amount are recorded in earnings.
  
Deferred Charges, Policy
Other Assets and Deferred Charges - Investments in mutual funds of $8.8 million and $7.4 million are included in "Other assets and deferred charges" as of December 31, 2025 and 2024, respectively. These investments are carried at fair value based on quoted prices for identical assets in active markets, resulting in classification within Level 1 of the fair value hierarchy. Gains and losses related to the investments are recorded within the Consolidated Statements of Earnings as a component of "Other (income) expense, net." Other assets and deferred charges also include non-current deferred tax assets.
  
Foreign Currency
Foreign Currency - Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, are translated into U.S. dollars at end-of-period exchange rates. Revenue and expense items are translated using weighted-average exchange rates. Foreign currency translation gains and losses are included as a component of "Accumulated other comprehensive loss." Assets and liabilities of an entity that are denominated in currencies other than an entity’s functional currency are re-measured into the functional currency using end-of-period exchange rates or historical rates where applicable to certain balances. Gains and losses related to these re-measurements are recorded within the Consolidated Statements of Earnings as a component of "Other (income) expense, net."
  
Revenue Recognition
Revenue Recognition - Revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The majority of the Company’s revenue is generated through the manufacture and sale of specialized products and components. For product and component sales, each good sold to a customer typically represents a distinct performance obligation. The Company’s performance obligation to provide goods to a customer is typically satisfied at a point in time upon completion of the shipping process as indicated by the terms of the contract, at which point control is transferred to the customer and revenue is recognized. The Company has no significant arrangements with multiple performance obligations. Remaining performance obligations consist of the aggregate amount of the total transaction price that is unsatisfied or partially satisfied.
Contract liabilities (deferred revenue) primarily relate to arrangements where cash has been collected but transfer of control of all performance obligations to the customer has either partially occurred or not occurred at the balance sheet date. Deferred revenue is classified on the Consolidated Balance Sheet as either a current liability ("Other accrued expenses") or non-current liability ("Other liabilities") based on the timing of when the Company expects to complete the performance obligation.

The terms of a contract or historical business practice can give rise to variable consideration, including customer discounts, rebates, and returns. The Company estimates variable consideration using either the expected value or most likely amount method. We include amounts in the transaction price to the extent it is probable that a significant reversal of revenue will not occur in a subsequent reporting period. Our estimates of variable consideration are based on all reasonably available information (historical, current, and forecasted). Rebates are recognized over the contract period based on expected revenue levels. Sales discounts and rebates totaled $4.2 million, $4.5 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023, respectively. Returns and allowances totaled $5.5 million, $4.6 million, and $3.1 million for the years ended December 31, 2025, 2024, and 2023, respectively.

The Company accounts for shipping and handling activities that occur after control of the related good transfers to the customer as fulfillment activities rather than evaluating such activities as performance obligations. As a result, all shipping and handling costs related to contracts with customers are recognized in "Cost of goods sold" on the Consolidated Statements of Earnings. Additionally, the Company applies the practical expedient allowing incremental costs of obtaining a contract to be expensed as incurred if the amortization period of the resulting asset would have been less than one year. These costs primarily consist of sales commissions; the Company has no such significant costs exceeding the one-year limit for applying the practical expedient.

Receivables, net from contracts with customers were $91.7 million and $89.5 million as of December 31, 2025 and 2024, respectively. See Note 17. Segment Information for disclosures regarding the disaggregation of revenues.
  
Stock-Based Compensation
Stock-Based Compensation – The principal awards issued under the stock-based compensation plans include stock options, restricted stock units ("RSUs"), and performance share units ("PSUs"). The cost for such awards is measured at the grant date based on the fair value of the award. The value of the portion of the award that is expected to ultimately vest is recognized as expense on a straight-line basis generally over the explicit service period of three years (except for retirement-eligible employees) and is included in "Cost of goods sold," "Research and development expenses," and "Selling and administrative expenses" in the Consolidated Statements of Earnings, depending on the functional area of the underlying employees. Expense for awards granted to retirement-eligible employees is recorded over the period from the date of grant through the date the employee first becomes eligible to retire and is no longer required to provide service. At the time of grant, the Company estimates forfeitures, based on historical experience, in order to estimate the portion of the award that will ultimately vest.

The Company uses the Black-Scholes valuation model to estimate the fair value of stock options granted to employees. The fair value of each RSU granted is equal to the share price at the date of the grant. The fair value of each PSU with a market condition is determined using a Monte Carlo simulation. The related expense for PSUs with market conditions is recognized regardless of the expected attainment as the grant date fair value considers the range of possible stock price and total shareholder return outcomes. The fair value of each PSU with a performance condition is equal to the share price at the date of the grant. The related expense for PSUs with performance conditions is recognized based on the expected attainment of performance targets. Changes in estimates for performance conditions that impact the number of shares expected to vest are recognized prospectively through cumulative adjustments to expense. See Note 13. Equity Incentive Program for additional information related to the Company’s stock-based compensation.
  
Income Taxes
Income Taxes - The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company offsets and presents deferred tax liabilities and assets, as well as any related valuation allowance, as a single non-current amount on the Consolidated Balance Sheets on a jurisdictional basis. The Company's policy is to release income tax effects from accumulated other comprehensive loss in the period the underlying item expires.
The Company establishes valuation allowances for its deferred tax assets if, based on all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. In making such assessments, significant weight is given to evidence that can be objectively verified. The assessment of the need for a valuation allowance requires considerable judgment on the part of management with respect to the benefits that could be realized from future taxable income, as well as other positive and negative factors. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning strategies in making this assessment.

The Company recognizes tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Adjustments are made to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company's financial condition and operating results. The provision for income taxes includes the effects of any reserves that are believed to be appropriate, as well as the related net interest and penalties.
  
Research and development expense
Research and Development Costs – Research and development costs, including qualifying engineering costs, are expensed when incurred.
  
v3.25.4
Leases (Policies)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lessee, Leases
Leases - The Company determines whether an arrangement is a lease at contract inception. Lease liabilities and right-of-use assets are recognized on the lease commencement date based on the net present value of fixed lease payments over the lease term. The Company includes options to extend or terminate a lease within the lease term when it is reasonably certain the option will be exercised. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Lease liabilities represent an obligation to make lease payments arising from a lease while right-of-use assets represent a right to use an underlying asset during the lease term. Right-of-use assets include prepaid fixed lease payments and exclude lease incentives. As the Company's leases do not have a readily determinable implicit rate, the Company uses its incremental borrowing rate to determine the present value of fixed lease payments based on information available at the lease commencement date.

Fixed lease expense for operating leases and right-of-use asset amortization for finance leases are generally recognized on a straight-line basis over the lease term. Variable lease payments, such as payments based on an index rate or usage, are expensed as incurred and excluded from lease liabilities and right-of-use assets. The Company combines lease components and nonlease components such as maintenance into a single lease component, which results in the capitalization of all fixed payments within lease liabilities and right-of-use assets.
v3.25.4
Inventories (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory, Net [Abstract]  
Components of Inventory
The following table details the major components of inventories:
 (in millions)December 31, 2025December 31, 2024
Raw materials$103.4 $94.2 
Work in progress27.1 26.1 
Finished goods40.5 35.5 
Subtotal171.0 155.8 
Less reserves(46.4)(37.8)
Total$124.6 $118.0 
v3.25.4
Property, Plant and Equipment, net (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Components of property, plant and equipment, net
 (in millions)December 31, 2025December 31, 2024
Land$14.1 $14.1 
Buildings and improvements99.1 117.2 
Machinery, equipment, and other294.4 276.7 
Subtotal407.6 408.0 
Less accumulated depreciation(267.4)(277.9)
Total$140.2 $130.1 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
The changes in the carrying value of goodwill by reportable segment are as follows:
 (in millions)Precision DevicesMedTech & Specialty AudioTotal
Balance at January 1, 2024$132.8 $137.7 $270.5 
Measurement period adjustments(0.3)— (0.3)
Foreign currency translation(0.4)— (0.4)
Balance at December 31, 2024132.1 137.7 269.8 
Foreign currency translation0.5 — 0.5 
Balance at December 31, 2025$132.6 $137.7 $270.3 

The Company recorded measurement period adjustments totaling $0.3 million to goodwill during the year ended December 31, 2024 related to the 2023 acquisition of CD.
Schedule of Future Amortization Expense Amortization expense for the next five years and thereafter, based on current definite-lived intangible balances, is estimated to be as follows:
(in millions)
2026$16.0 
202715.9 
202815.2 
202912.8 
203011.7 
2031 and thereafter37.5 
Total$109.1 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease, Cost [Table Text Block]
The following table details the components of lease cost:
Years Ended December 31,
(in millions)202520242023
Operating lease cost (1)
$6.4 $6.9 $7.9 
Finance lease cost:
Amortization of right-of-use assets0.4 2.3 2.3 
Interest on lease liabilities— 0.1 0.2 
Sublease income(1.0)(0.2)(3.3)
Total lease cost$5.8 $9.1 $7.1 
(1) Includes short-term and variable lease costs, which were immaterial.
Schedule of Lease Assets and Liabilities [Table Text Block]
The following table presents supplemental balance sheet information related to finance leases:
(in millions)Balance Sheet LineDecember 31, 2025December 31, 2024
Finance lease right-of-use assetsProperty, plant, and equipment, net$0.6 $1.1 
Current finance lease liabilitiesOther accrued expenses$0.4 $0.4 
Long-term finance lease liabilitiesOther liabilities0.3 0.4 
Total finance lease liabilities$0.7 $0.8 
Schedule of Lease Payments [Table Text Block]
The following table presents supplemental cash flow information related to leases:
Years Ended December 31,
(in millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5.6 $5.7 $9.1 
Operating cash flows from finance leases— 0.1 0.2 
Financing cash flows from finance leases0.5 1.5 2.5 
Lease liabilities arising from obtaining right-of-use assets:(2)
Operating leases$15.8 $2.0 $2.6 
Finance leases0.4 0.2 0.7 
Finance Lease, Liability, Maturity [Table Text Block]
The following table details weighted-average remaining lease terms and discount rates:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years):
Operating leases6.52.8
Finance leases2.42.6
Weighted-average discount rate:
Operating leases6.6 %5.6 %
Finance leases6.5 %5.9 %
Schedule of Maturities of Lease liabilities [Table Text Block]
The following table details maturities of lease liabilities as of December 31, 2025:
(in millions)Operating LeasesFinance Leases
20265.2 0.4 
20274.6 0.2 
20283.3 0.1 
20292.1 — 
20302.1 — 
2031 and thereafter7.7 — 
Total lease payments25.0 0.7 
Less interest(4.8)— 
Present value of lease liabilities$20.2 $0.7 
v3.25.4
Accrued Expenses and Other Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Accrued Liabilities and Other Liabilities [Abstract]  
Schedule of Accrued Expenses
8. Other Accrued Expenses and Other Liabilities

The following table details the major components of other accrued expenses:
 (in millions)December 31, 2025December 31, 2024
Restructuring and exit costs$6.0 $5.0 
Accrued separation costs (1)
4.8 13.5 
Accrued taxes other than income taxes5.0 2.0 
Sales volume rebates3.3 3.8 
Accrued insurance2.1 1.9 
Accrued commissions (non-employee)2.1 1.7 
Current hedging liability1.5 2.5 
Deferred revenue1.2 1.7 
Warranty0.5 0.6 
Current finance lease liabilities0.4 0.4 
Other1.3 0.5 
Total$28.2 $33.6 
(1) In connection with the sale of CMM on December 27, 2024, the Company shares in certain separation costs with the buyer pursuant to a credit of up to $13.5 million that the buyer may apply to specified separation costs post-closing. See Note 2. Discontinued Operations.

The following table details the major components of other liabilities:
 (in millions)December 31, 2025December 31, 2024
Deferred revenue$19.8 $— 
Deferred compensation, including defined benefit plans14.9 14.7 
Unrecognized tax benefits3.1 2.5 
Long-term finance lease liabilities0.3 0.4 
Restructuring and exit costs— 4.8 
Long-term hedging liability— 1.0 
Other
0.1 0.3 
Total$38.2 $23.7 

Warranty Accruals

Estimated warranty program claims are provided for at the time of sale. Amounts provided for are based on historical costs and adjusted for new claims. The changes in the carrying amount of product warranties were as follows:
Years Ended December 31,
 (in millions)202520242023
Beginning balance, January 1$0.6 $0.7 $0.4 
Provision for warranties— — 0.4 
Settlements made(0.1)(0.4)(0.3)
Other adjustments, including currency translation— 0.3 0.2 
Ending balance, December 31$0.5 $0.6 $0.7 
Schedule of Other Noncurrent Liabilities
The following table details the major components of other liabilities:
 (in millions)December 31, 2025December 31, 2024
Deferred revenue$19.8 $— 
Deferred compensation, including defined benefit plans14.9 14.7 
Unrecognized tax benefits3.1 2.5 
Long-term finance lease liabilities0.3 0.4 
Restructuring and exit costs— 4.8 
Long-term hedging liability— 1.0 
Other
0.1 0.3 
Total$38.2 $23.7 
Schedule of Product Warranty Liability The changes in the carrying amount of product warranties were as follows:
Years Ended December 31,
 (in millions)202520242023
Beginning balance, January 1$0.6 $0.7 $0.4 
Provision for warranties— — 0.4 
Settlements made(0.1)(0.4)(0.3)
Other adjustments, including currency translation— 0.3 0.2 
Ending balance, December 31$0.5 $0.6 $0.7 
v3.25.4
Restructuring and Related Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
The following table details restructuring charges incurred by reportable segment:
 Years Ended December 31,
(in millions)202520242023
Precision Devices$2.2 $3.4 $2.5 
MedTech & Specialty Audio0.4 — — 
Corporate1.2 — 0.8 
Total$3.8 $3.4 $3.3 
Schedule of Restructuring Reserve by Type of Cost
The following table details the Company’s severance and other restructuring accrual activity:
(in millions)
Severance Pay and Benefits (1)
Contract Termination and Other Costs (2)
Total
Balance at January 1, 2023$— $19.1 $19.1 
Restructuring charges (continuing operations)3.3 — 3.3 
Payments(2.1)(0.4)(2.5)
Other, including foreign currency (3) (4)
0.9 (1.9)(1.0)
Balance at December 31, 20232.1 16.8 18.9 
Restructuring charges (continuing operations)3.4 — 3.4 
Payments(4.4)(5.7)(10.1)
Other, including foreign currency (3) (5)
(0.7)(1.7)(2.4)
Balance at December 31, 20240.4 9.4 9.8 
Restructuring charges (continuing operations)3.8 — 3.8 
Payments(3.0)(4.9)(7.9)
Other, including foreign currency
— 0.3 0.3 
Balance at December 31, 2025$1.2 $4.8 $6.0 
(1) All accruals for Severance Pay and Benefits are reflected within "Other accrued expenses" on the Consolidated Balance Sheet.
(2) Accruals for Contract Terminations and Other Costs of $4.8 million and $4.6 million were reflected within Other accrued expenses on the Consolidated Balance Sheet at December 31, 2025 and 2024, respectively. The remaining balances are reflected within Other liabilities.
(3) Other activity includes restructuring credits reflected in the results of discontinued operations for the years ended December 31, 2024 and 2023 of $0.2 million and $2.5 million, respectively. There were no restructuring charges reflected in the results of discontinued operations for the year ended December 31, 2025.
(4) Other activity during 2023 includes $1.1 million of reserves assumed by the Company with the acquisition of CD within the PD segment.
(5) Other activity during 2024 includes the non-cash disposal of fixed assets of $0.7 million within the PD segment, as a result of transferring certain capacitors manufacturing to existing facilities to further optimize operations.
Schedule of Restructuring Reserve by Balance Sheet Location
The severance and restructuring accruals are recorded in the following line items on the Consolidated Balance Sheets:

(in millions)December 31, 2025December 31, 2024
Other accrued expenses$6.0 $5.0 
Other liabilities— 4.8 
Total$6.0 $9.8 
v3.25.4
Hedging Transactions and Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The fair values of derivative instruments held by the Company are as follows (in millions):
Derivative Assets (Liabilities)
Hedge TypeContract TypeBalance Sheet LineDecember 31, 2025December 31, 2024
Derivatives designated as hedging instruments
Cash flow hedgesForeign exchange contractsPrepaid and other current assets$1.1 $0.2 
Cash flow hedgesForeign exchange contractsOther accrued expenses(1.4)(1.6)
Cash flow hedgesForeign exchange contractsOther liabilities— (1.0)
Derivatives not designated as hedging instruments
Economic hedgesForeign exchange contractsPrepaid and other current assets0.7 — 
Economic hedgesForeign exchange contractsOther accrued expenses(0.1)(0.9)
Derivative Instruments, Gain (Loss)
The pre-tax amount of unrealized gain (loss) recognized in accumulated other comprehensive loss on derivatives designated as hedging instruments is as follows (in millions):
Years Ended December 31,
Hedge TypeContract Type202520242023
Cash flow hedgesForeign exchange contracts$2.4 $(3.3)$(5.0)

The table above excludes tax expense of $0.6 million for the year ended December 31, 2025, and a tax benefit of $0.8 million and $1.1 million for the years ended December 31, 2024 and 2023, respectively.

The pre-tax impact of derivatives on the Consolidated Statements of Earnings is as follows (in millions):
Years Ended December 31,
202520242023
Hedge TypeContract TypeCost of goods soldOther expense, netCost of goods soldOther expense, netCost of goods soldOther expense, net
Total amounts per Consolidated Statements of Earnings$332.5 $3.2 $316.8 $0.8 $251.9 $0.7 
Effect of derivatives designated as hedging instruments
Amount of (gain) loss reclassified from accumulated other comprehensive loss into earnings:
Cash flow hedgesForeign exchange contracts(0.2)— 1.5 — 2.7 — 
Effect of derivatives not designated as hedging instruments
Amount of (gain) loss recognized in earnings:
Economic hedgesForeign exchange contracts— (6.4)— 3.8 — 3.3 
v3.25.4
Borrowings and Lines of Credit (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Term Loan and Revolving Credit Facilities
Revolving Credit Facility

On February 8, 2023, the Company entered into an Amended and Restated Credit Agreement (the "A&R Credit Agreement") that amends and restates the prior Credit Agreement, dated September 4, 2020, and provides for a senior secured revolving credit facility with borrowings in an aggregate principal amount at any time outstanding not to exceed $400.0 million (the "Credit Facility"). The A&R Credit Agreement, among other things, extends the maturity date of the Credit Facility from January 2, 2024 to February 8, 2028, replaces the London Inter-Bank Offered Rate (“LIBOR”) with the Term Secured Overnight Financing Rate (“Term SOFR”) as a reference rate available for borrowings, amends the minimum Interest Coverage Ratio, and amends certain other financial covenants with which the Company must comply, as described below.

On September 25, 2023, the Company amended its A&R Credit Agreement to, among other things, (a) permit the Company in connection with the acquisition of CD, to incur senior priority seller financing indebtedness (the “Seller Note”) in an aggregate principal amount of $122.9 million secured by certain assets (including equity interests) acquired in connection with such acquisition and the capital stock of Cornell Dubilier, LLC (the “Acquisition Assets”), which matured two years after the effective date of such Seller Note (the “Seller Note Maturity Date”) and (b) extend the requirement to pledge the Acquisition Assets that would otherwise constitute collateral under the Credit Agreement to the date that is 90 days after the Seller Note Maturity Date. All other terms remain the same as the A&R Credit Agreement dated February 8, 2023.

Up to $100.0 million of the Credit Facility will be available in Euro, Pounds Sterling, and other currencies requested by the Company and up to $50.0 million of the Credit Facility will be made available in the form of letters of credit. Undrawn amounts under the Credit Facility accrue a commitment fee at a per annum rate of 0.225% to 0.350%, based on a leverage ratio grid.

At any time during the term of the Credit Facility, the Company may request to increase the commitments under the Credit Facility or to establish one or more incremental term loan facilities under the Credit Facility in an aggregate principal amount not to exceed the sum of $200.0 million, plus additional amounts, so long as the senior secured leverage ratio does not exceed 2.00 to 1.00.

The A&R Credit Agreement includes requirements, to be tested quarterly, that the Company maintains (i) a minimum ratio of Consolidated EBITDA to consolidated cash interest expense of 3.00 to 1.00, (the "Interest Coverage Ratio"), (ii) a ratio of total indebtedness, minus netted cash in an aggregate amount not to exceed $50.0 million, to Consolidated EBITDA of 3.75 to 1.00 (the "Total Net Leverage Ratio"), and (iii) a maximum ratio of senior net secured indebtedness to Consolidated EBITDA of 3.25 to 1.00 (the "Senior Secured Net Leverage Ratio"). For these ratios, Consolidated EBITDA and consolidated interest expense are calculated using the most recent four consecutive fiscal quarters in a manner defined in the A&R Credit Agreement. At December 31, 2025, the Company was in compliance with these covenants and it expects to remain in compliance with all of its debt covenants over the next twelve months.
The interest rates under the A&R Credit Facility will be, at the Borrowers' option (1) (A) in the case of borrowings denominated in U.S. dollars Term SOFR, (B) in the case of borrowings denominated in Sterling, Daily Simple Sonia, or (C) for borrowings denominated in Euro, EURIBOR, in each case, plus the rates per annum determined from time to time based on the total net leverage ratio of the Company as of the end of and for the most recent period of four fiscal quarters for which financial statements have been delivered (the "Applicable Margin"); or (2) in the case of borrowings denominated in U.S. dollars, alternate base rate ("ABR") (as defined in the A&R Credit Agreement) plus the Applicable Margin. The Applicable Margin for Term SOFR, Daily Simple Sonia, or EURIBOR could range from 1.50% to 2.50% while the Applicable Margin for ABR could range from 0.50% to 1.50%.

The weighted-average interest rate on the Company's borrowings under the Credit Facility was 6.10%, 7.07%, and 6.55% for the years ended December 31, 2025, 2024, and 2023, respectively. The weighted-average commitment fee on the revolving lines of credit was 0.25%, 0.26%, and 0.23% for the years ended December 31, 2025, 2024 and 2023, respectively.

Seller Note
In connection with the acquisition of Cornell Dubilier on November 1, 2023, the Company obtained an interest-free Seller Note with aggregate principal payments of $122.9 million. The Company recorded the Seller Note on the acquisition date at its present value of $109.9 million by discounting the future principal payments using an imputed rate of interest of approximately 7.1% in accordance with accounting guidance in ASC 835, Interest. The Company has made a successful indemnity claim against the Seller Note of $0.2 million. The Company repaid $50.0 million of the Seller Note on November 1, 2024 and the remaining $72.7 million on October 31, 2025. The Company recognized imputed interest expense on the Seller Note of approximately $4.2 million, $7.5 million and $1.3 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Schedule of Interest Expense and Interest Income
Interest expense and interest income for the years ended December 31, 2025, 2024, and 2023 were as follows:
 Years Ended December 31,
 (in millions)202520242023
Interest expense$13.0 $20.1 $7.4 
Interest income(3.7)(3.8)(2.0)
Interest expense, net$9.3 $16.3 $5.4 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The components of earnings before income taxes and discontinued operations were:
 Years Ended December 31,
(in millions)202520242023
Domestic$60.8 $32.2 $(118.5)
Foreign3.2 2.5 155.8 
Total earnings before income taxes and discontinued operations$64.0 $34.7 $37.3 
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense (benefit) is comprised of the following:
 Years Ended December 31,
(in millions)202520242023
Current:
U.S. Federal$0.3 $0.9 $(1.8)
State and local1.0 0.5 0.3 
Foreign5.3 4.0 15.1 
Total current tax expense$6.6 $5.4 $13.6 
Deferred:
U.S. Federal$5.8 $4.5 $(38.8)
State and local0.7 — (2.4)
Foreign— 1.4 (0.7)
Total deferred tax expense (benefit)6.5 5.9 (41.9)
Total income tax expense (benefit)$13.1 $11.3 $(28.3)
Schedule of Effective Income Tax Rate Reconciliation The reconciliation of income tax expense at the U.S. Federal income tax rate to the Company’s actual income tax expense (benefit) was as follows:
Year Ended December 31,
($ in millions)2025
Income tax expense at U.S. federal statutory income tax rate$13.5 21.0 %
State and local taxes, net of federal income tax (1)
(0.9)(1.4)
Foreign tax effects:
Cayman:
Statutory tax rate difference between Cayman and U.S.(7.5)(11.7)
Malaysia:
Non-taxable interest(4.2)(6.5)
Non-deductible interest expense9.0 14.0 
Philippines:
Tax incentives(1.0)(1.6)
Other0.2 0.3 
Luxembourg:
Statutory tax rate difference between Luxembourg and U.S.(1.1)(1.7)
Change in valuation allowances(3.7)(5.7)
Non-deductible interest9.0 14.0 
Foreign currency income3.0 4.7 
Other0.7 1.1 
Japan:
Statutory tax rate difference between Japan and U.S.0.8 1.3 
Foreign currency loss(2.1)(3.3)
Other foreign jurisdictions1.4 2.1 
Effect of cross-border tax laws:
Global intangible low-taxed income(0.1)(0.2)
Foreign-derived intangible income(5.8)(9.0)
Subpart F2.5 3.9 
Tax credits:
Research and development tax credits(1.4)(2.2)
Foreign tax credits(1.7)(2.6)
Non-taxable or non-deductible items:
Share-based payment awards3.2 5.1 
Non-taxable interest(5.0)(7.7)
Non-deductible asset impairment0.8 1.2 
Non-deductible foreign currency loss1.3 2.0 
Non-deductible amortization1.7 2.6 
Other0.5 0.8 
Changes in unrecognized tax benefits(0.2)(0.3)
Other adjustments0.2 0.3 
Total$13.1 20.5 %
(1) State taxes in California made up the majority (greater than 50%) of the tax effect in this category.
As previously disclosed for the years ended December 31, 2024 and 2023, the effective income tax rate differs from the statutory federal income tax rate as follows:
 Years Ended December 31,
(in millions)20242023
Income tax expense at U.S. federal statutory income tax rate$7.3 $7.8 
State and local taxes, net of federal income tax benefit0.5 (2.0)
Foreign operations tax effect0.4 4.9 
Research and experimentation tax credits(1.8)(1.5)
Valuation allowance4.2 (14.4)
Tax incentives(1.0)(1.2)
Tax contingencies(0.7)(0.2)
Tax holiday0.6 0.5 
Tax rate changes1.0 — 
Statutory loss net of recapture(1.5)— 
Subpart F income4.4 — 
Foreign taxes(2.4)— 
Non-deductible and non-taxable interest0.6 (1.5)
Stock-based compensation3.5 3.0 
Impact of intangible property transfers— (26.6)
Other, principally non-tax deductible items0.2 1.8 
Global low tax and foreign derived intangible income(2.6)1.3 
Prior period items(1.4)(0.2)
Total income tax expense (benefit)$11.3 $(28.3)
Schedule of Deferred Tax Assets and Liabilities
The components of the Company’s deferred tax assets and liabilities included the following:
(in millions)December 31, 2025December 31, 2024
Deferred tax assets:
Accrued compensation, principally post-retirement, and other employee benefits$11.3 $10.6 
Accrued expenses3.1 7.6 
Accrued interest(0.1)0.1 
Net operating loss and other carryforwards356.5 336.1 
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes12.6 10.6 
Unremitted earnings of non-U.S. subsidiaries(1.2)1.6 
Intangible assets, principally due to different tax and financial reporting bases31.0 31.9 
Plant and equipment, principally due to differences in depreciation0.4 1.0 
Total gross deferred tax assets413.6 399.5 
Valuation allowance(45.8)(48.7)
Total deferred tax assets$367.8 $350.8 
Deferred tax liabilities:
Net operating loss recapture(284.4)(256.1)
Other liabilities$(2.1)$(4.1)
Total gross deferred tax liabilities(286.5)(260.2)
Net deferred tax asset$81.3 $90.6 
Classified as follows in the Consolidated Balance Sheets:
Other assets and deferred charges (non-current deferred tax assets)$82.4 $91.7 
Deferred income taxes (non-current deferred tax liabilities)(1.1)(1.1)
Net deferred tax asset$81.3 $90.6 
Schedule of Unrecognized Tax Benefits Roll Forward
(in millions)
Unrecognized tax benefits at January 1, 2023$8.1 
Reductions as a result of a lapse in statute of limitations(0.3)
Foreign exchange fluctuations0.2 
Unrecognized tax benefits at December 31, 2023$8.0 
Additions for tax positions of prior years0.6 
Reductions as a result of a lapse in statute of limitations(0.6)
Foreign exchange fluctuations(0.1)
Unrecognized tax benefits at December 31, 2024$7.9 
Additions for tax positions of prior years0.7 
Reductions as a result of a lapse in statute of limitations(0.4)
Foreign exchange fluctuations(0.1)
Unrecognized tax benefits at December 31, 2025$8.1 
The following is a supplemental schedule of cash paid for income taxes for those individual jurisdictions equaling 5% or more of the total income taxes paid (net of refunds) for the year ended December 31, 2025:

(in millions)
U.S. Federal$0.8 
State and local0.8 
Foreign:
United Kingdom1.9 
Denmark0.9 
Japan0.4 
Malaysia2.8 
Philippines0.5 
Other0.3 
Cash paid during the period for income taxes$8.4 
v3.25.4
Equity Incentive Program (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Recognized Period Costs
The following table summarizes the stock-based compensation expense:
 Years Ended December 31,
(in millions)202520242023
Pre-tax stock-based compensation expense
Cost of goods sold$1.5 $1.5 $1.6 
Research and development expenses3.3 2.4 1.9 
Selling and administrative expenses23.6 18.3 19.3 
Total pre-tax stock-based compensation expense (1)
28.4 22.2 22.8 
Tax benefit4.1 3.0 2.8 
Total stock-based compensation expense, net of tax$24.3 $19.2 $20.0 
Schedule of Black-Scholes Option-Pricing Assumptions
No stock options were granted during the years ended December 31, 2025, 2024, and 2023.
Schedule of SSAR and Stock Options Activity
The following table summarizes the Company's stock option activity:
 Number of SharesWeighted-Average Exercise PriceAggregate Intrinsic Value (in millions)Weighted-Average Remaining Contractual Term (Years)
Outstanding at December 31, 20241,161,337 $17.59   
Exercised (1)
(598,909)16.94 
Expired(148,769)18.54 
Outstanding at December 31, 2025413,659 $18.20 $1.3 1.6
Exercisable at December 31, 2025413,659 $18.20 $1.3 1.6
(1) The number of stock options exercised includes shares that the Company withheld on behalf of employees to satisfy the option exercise price (in the instances of net exercises) as well as statutory tax withholding requirements.
Schedule of Other Share-based Compensation, Activity
Other information regarding the exercise of stock options is listed below:
Years Ended December 31,
(in millions)202520242023
Cash received by Knowles for exercise of stock options$6.7 $5.8 $1.6 
Aggregate intrinsic value of stock options exercised2.9 2.3 2.9 
Tax benefit from stock options exercised— — 0.6 
Schedule of Restricted Stock Units Award Activity
The following table summarizes the Company's RSU activity:
 Share unitsWeighted-average grant date fair value
Unvested at December 31, 20241,819,308 $17.79 
Granted1,057,649 18.10 
Vested (1)
(856,091)18.26 
Forfeited(109,340)17.54 
Unvested at December 31, 20251,911,526 $17.76 
(1) The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.

RSUs vest based on the passage of time. Generally, RSUs have a three year vesting schedule and vest one-third on each of the first three anniversaries of the grant date. The fair value of RSUs vested during the year ended December 31, 2025 was $15.4 million. At December 31, 2025, $16.7 million of unrecognized compensation expense related to RSUs is expected to be recognized over a weighted-average period of 1.4 years.
Schedule of Nonvested Performance-Based Units Activity
The following table summarizes the Company's PSU activity:
Share units (1)
Weighted-average grant date fair value
Unvested at December 31, 2024842,866 $27.25 
Granted455,018 24.08 
Vested (2)
(221,616)29.92 
Unvested at December 31, 20251,076,268 $25.36 
(1) The number of PSUs shown reflects 100% of the target award; actual payouts may differ based on performance.
(2) The number of PSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.
Share-Based Payment Arrangement, Performance Shares, Activity
PSUs

Awards with market conditions

The Company grants PSUs to senior management. In each case, the awards cliff vest three years following the grant date. PSUs are settled in shares of the Company's common stock. Depending on the Company's overall performance relative to the applicable measures, the size of the PSU awards are subject to adjustment, up or down, resulting in awards at the end of the performance period that can range from 0% to 225% of target. The Company ratably recognizes the expense over the applicable service period for each grant of PSUs. The fair value of PSUs with market conditions is determined by using a Monte Carlo simulation. For the awards granted in February 2025, 2024, and 2023, the number of PSUs that may be earned and vest is based on total shareholder return (“TSR”) relative to the component companies of the Russell 2000 Index over a three-year performance period.

The COVID-19 pandemic brought on unique and unprecedented challenges to the Company, particularly in the hearing health and medtech markets. Many of the Company's executive compensation programs were affected, including outstanding PSU awards. Due to the impact of the COVID-19 pandemic on the Company’s overall business performance, effective February 8, 2021, the Company’s Compensation Committee approved certain modifications to PSUs granted in February 2020. For the awards granted in February 2020 (the “2020 PSUs”), the number of PSUs that may be earned and vest was originally based on TSR relative to the component companies of the S&P Semiconductor Select Industry Index over a three-year performance period. The modified award replaces the S&P Semiconductor Select Industry Index with the Russell 2000 Index. The Company is a member of the Russell 2000 Index, which represents a broader, more diversified index that better aligns with the Company's strategy. Service conditions were not modified. The modification of the 2020 PSUs affected eight employees and resulted in total incremental compensation expense of $4.7 million, which was recognized over the remaining service period. In February 2023, the 2020 PSUs were converted from 261,770 PSUs to 120,677 shares of common stock based on achievement of the modification conditions.

Awards with performance conditions

On February 18, 2025 the Company granted a special PSU award to its Chief Executive Officer of 81,788 target PSUs with a grant date fair value of $1.5 million. This award is eligible to vest based on the achievement of a minimum non-GAAP diluted earnings per share amount and specified revenue goals over a potential five-year performance period. If the goals are not met during the initial three-year performance period, it may be extended an additional two years at a reduced payout level. Achievement could range from 0% to 400% of the target number of PSUs. The Company will recognize the expense for this award over the applicable service period and adjust the expense for the expected achievement of performance conditions as necessary.

The following table summarizes the Company's PSU activity:
Share units (1)
Weighted-average grant date fair value
Unvested at December 31, 2024842,866 $27.25 
Granted455,018 24.08 
Vested (2)
(221,616)29.92 
Unvested at December 31, 20251,076,268 $25.36 
(1) The number of PSUs shown reflects 100% of the target award; actual payouts may differ based on performance.
(2) The number of PSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.

The fair value of PSUs vested during the year ended December 31, 2025 was $4.1 million. At December 31, 2025, $8.5 million of unrecognized compensation expense related to PSUs is expected to be recognized over a weighted-average period of 1.2 years.
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
RSUs

The following table summarizes the Company's RSU activity:
 Share unitsWeighted-average grant date fair value
Unvested at December 31, 20241,819,308 $17.79 
Granted1,057,649 18.10 
Vested (1)
(856,091)18.26 
Forfeited(109,340)17.54 
Unvested at December 31, 20251,911,526 $17.76 
(1) The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy statutory tax withholding requirements.

RSUs vest based on the passage of time. Generally, RSUs have a three year vesting schedule and vest one-third on each of the first three anniversaries of the grant date. The fair value of RSUs vested during the year ended December 31, 2025 was $15.4 million. At December 31, 2025, $16.7 million of unrecognized compensation expense related to RSUs is expected to be recognized over a weighted-average period of 1.4 years.
v3.25.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Plan Obligations and Funded Status
The following tables summarize the balance sheet impact, including the benefit obligations, assets, and funded status associated with the Company's defined benefit plans for non-U.S. participants:

December 31,
(in millions)20252024
Change in benefit obligation:  
Benefit obligation at beginning of year$36.9 $43.5 
Service cost0.2 0.2 
Interest cost2.1 1.9 
Benefits paid(2.4)(2.4)
Actuarial gain(0.5)(3.4)
Business divestiture (1)
— (1.3)
Settlements and curtailments— (0.9)
Currency translation and other2.3 (0.7)
Benefit obligation at end of year38.6 36.9 
Change in plan assets:
Fair value of plan assets at beginning of year37.0 43.1 
Actual return on plan assets2.2 (1.1)
Company contributions1.0 0.9 
Benefits paid(2.4)(2.4)
Business divestiture (1)
— (1.5)
Settlements and curtailments— (0.9)
Currency translation and other2.3 (1.1)
Fair value of plan assets at end of year40.1 37.0 
Funded status$1.5 $0.1 
(1)     Reflects the divestiture of the Company's defined benefit plan in Taiwan in connection with the sale of CMM on December 27, 2024 .

December 31,
(in millions)20252024
Amounts recognized in the Consolidated Balance Sheets consist of:  
Other assets and deferred charges$4.2 $3.8 
Other liabilities(2.7)(3.7)
Funded status$1.5 $0.1 
Accumulated other comprehensive loss:
Net actuarial losses$17.4 $18.6 
Prior service cost1.1 1.2 
Deferred taxes(2.6)(2.7)
Total accumulated other comprehensive loss, net of tax15.9 17.1 
Accumulated benefit obligation$37.9 $36.4 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
Pension plans with projected benefit obligations in excess of plan assets consisted of the following:
December 31,
 (in millions)20252024
Projected benefit obligation$24.0 $23.3 
Fair value of plan assets21.2 19.5 
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
Pension plans with accumulated benefit obligations in excess of plan assets consisted of the following:
December 31,
 (in millions)20252024
Accumulated benefit obligation$23.6 $22.9 
Fair value of plan assets21.2 19.5 
Schedule of Net Periodic Benefit Costs
Components of the net periodic benefit cost were as follows:
Years Ended December 31,
(in millions)202520242023
Service cost$0.2 $0.2 $0.2 
Interest cost2.1 1.9 2.0 
Expected return on plan assets(2.2)(2.4)(2.1)
Amortization of prior service cost 0.1 — 0.1 
Amortization of recognized actuarial loss0.6 0.6 0.5 
Other— 0.1 — 
Total net periodic benefit cost$0.8 $0.4 $0.7 
Schedule of Assumptions Used
The assumptions used in determining the benefit obligations were as follows:
December 31,
 20252024
Discount rate
Philippines6.20 %6.00 %
Taiwan (2)
n/a1.50 %
United Kingdom5.50 %5.48 %
Weighted-average5.52 %5.49 %
Average wage increase
Philippines5.50 %5.50 %
Taiwan (2)
n/a4.00 %
United Kingdom3.95 %4.35 %
Weighted-average4.04 %4.42 %
(2) The Company's defined benefit plan in Taiwan was divested with the sale of CMM on December 27, 2024. Prior to the sale, the Taiwan benefit obligation was remeasured using the above discount rate and the plan assets were remeasured to fair value.

The assumptions used in determining the net periodic benefit cost were as follows:
Years Ended December 31,
 202520242023
Discount rate
Philippines6.00 %6.20 %7.50 %
Taiwann/a1.50 %1.75 %
United Kingdom5.48 %4.60 %4.84 %
Weighted-average5.49 %4.47 %4.71 %
Average wage increase
Philippines5.50 %4.00 %4.00 %
Taiwann/a4.00 %4.00 %
United Kingdom4.35 %4.20 %4.35 %
Weighted-average4.42 %4.17 %4.30 %
Expected return on plan assets
Philippines6.75 %7.25 %7.50 %
Taiwann/a4.00 %1.75 %
United Kingdom5.64 %5.77 %5.17 %
Weighted-average5.65 %5.68 %5.00 %
Fair Value of Plan Assets by Asset Category
The fair values of plan assets by asset category within the ASC 820 hierarchy were as follows:
 December 31, 2025December 31, 2024
(in millions)Level 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3Total Fair Value
Asset category:       
Fixed income investments$3.2 $17.3 $— $20.5 $3.1 $16.0 $— $19.1 
Common stock funds — 7.3 — 7.3 — 6.7 — 6.7 
Real estate funds— 2.7 — 2.7 — 2.5 — 2.5 
Cash and equivalents1.3 — — 1.3 1.3 — — 1.3 
Other4.8 3.5 — 8.3 4.2 3.2 — 7.4 
Total$9.3 $30.8 $— $40.1 $8.6 $28.4 $— $37.0 
Schedule of Expected Benefit Payments
Estimated future benefit payments to retirees, which reflect expected future service, are as follows:
(in millions)
2026$2.5 
20272.4 
20282.6 
20292.6 
20302.5 
2031-203513.7 
v3.25.4
Other Comprehensive (Loss) Earnings (Tables)
 12 Months Ended
Dec. 31, 2025
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Amounts Recognized in Other Comprehensive Income
The amounts recognized in other comprehensive earnings (loss) were as follows:
 Year Ended December 31, 2025
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$10.7 $— $10.7 
Employee benefit plans1.1 (0.1)1.0 
Changes in fair value of cash flow hedges2.2 (0.5)1.7 
Total other comprehensive earnings$14.0 $(0.6)$13.4 
 Year Ended December 31, 2024
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$(6.2)$— $(6.2)
Employee benefit plans(0.6)(0.1)(0.7)
Changes in fair value of cash flow hedges(1.8)0.4 (1.4)
Total other comprehensive loss$(8.6)$0.3 $(8.3)
 Year Ended December 31, 2023
(in millions)Pre-taxTaxNet of tax
Foreign currency translation$(6.1)$— $(6.1)
Employee benefit plans(0.1)0.2 0.1 
Changes in fair value of cash flow hedges(2.3)0.6 (1.7)
Total other comprehensive loss$(8.5)$0.8 $(7.7)
Schedule of Components of Accumulated Other Comprehensive Income (Loss)
The following table summarizes the changes in balances of each component of accumulated other comprehensive loss, net of tax:
(in millions)Cash flow hedgesEmployee benefit plans
Cumulative foreign currency translation adjustments (1)
Total
Balance at January 1, 2024$(0.7)$(16.2)$(112.9)$(129.8)
Other comprehensive loss, net of tax(1.4)(0.7)(6.2)(8.3)
Balance at December 31, 2024(2.1)(16.9)(119.1)(138.1)
Other comprehensive earnings, net of tax1.7 1.0 10.7 13.4 
Balance at December 31, 2025$(0.4)$(15.9)$(108.4)$(124.7)
The following table summarizes the amounts reclassified from accumulated other comprehensive loss to earnings:
Years Ended December 31,
(in millions)Statement of Earnings Line202520242023
Pension and post-retirement benefit plans:
Amortization or settlement of actuarial losses and prior service costsOther expense, net$0.7 $0.6 $0.6 
TaxProvision for (benefit from) income taxes(0.1)(0.1)(0.1)
Net of tax$0.6 $0.5 $0.5 
Cash flow hedges:
Net (gains) losses reclassified into earningsCost of goods sold$(0.2)$1.5 $2.7 
TaxProvision for (benefit from) income taxes0.1 (0.4)(0.5)
Net of tax$(0.1)$1.1 $2.2 
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Revenue from External Customers by Geographic Areas
The following table details revenues by geographic location. Revenues are attributed to regions based on the location of the Company's direct customer, which in some instances is an intermediary and not necessarily the end user. Long-lived assets are comprised of net property, plant, and equipment and operating lease right-of-use assets. These assets have been classified based on the geographic location of where they reside. The Company's businesses are based primarily in North America, Asia, and Europe.
 RevenuesLong-Lived Assets
 Years Ended December 31,December 31,
(in millions)20252024202320252024
United States$248.8 $236.0 $160.8 $93.9 $81.3 
Asia226.1 187.1 176.6 62.2 52.9 
Europe95.4 103.2 101.3 1.0 2.8 
Other Americas12.0 12.1 6.8 2.2 1.7 
Other10.9 15.1 11.3 — — 
Total$593.2 $553.5 $456.8 $159.3 $138.7 
Schedules of Concentration of Risk, by Risk Factor
The Company's customers that accounted for 10% or more of total revenues in 2025 were WS Audiology A/S and TTI, Inc. WS Audiology is a hearing aid manufacturer and TTI is a distributor of electromechanical components. They each represented the following percentages of total Company revenues:
Years Ended December 31,
202520242023
WS Audiology A/S11 %14 %16 %
TTI Inc.10 %**
Reconciliation of Assets from Segment to Consolidated
Information regarding assets of the Company's reportable segments is as follows:
Total Assets
(in millions)December 31, 2025December 31, 2024December 31, 2023
Precision Devices$554.7 $619.9 $628.3 
MedTech & Specialty Audio399.7 410.6 391.7 
Corporate (1)
96.7 87.7 7.8 
Discontinued operations— — 435.0 
Total$1,051.1 $1,118.2 $1,462.8 
v3.25.4
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Reconciliation of information used in computing basic and diluted earnings per share
Basic and diluted earnings per share were computed as follows:
 Years Ended December 31,
(in millions, except per share amounts)202520242023
Earnings from continuing operations$50.9 $23.4 $65.6 
(Loss) earnings from discontinued operations, net(6.7)(261.2)6.8 
Net earnings (loss)$44.2 $(237.8)$72.4 
Basic earnings (loss) per common share:
Earnings from continuing operations$0.59 $0.26 $0.72 
(Loss) earnings from discontinued operations, net(0.08)(2.93)0.08 
Net earnings (loss)$0.51 $(2.67)$0.80 
Weighted-average shares outstanding 86.4 88.9 90.9 
Diluted earnings (loss) per common share:
Earnings from continuing operations$0.58 $0.26 $0.72 
(Loss) earnings from discontinued operations, net(0.08)(2.90)0.07 
Net earnings (loss)$0.50 $(2.64)$0.79 
Diluted weighted-average shares outstanding (1)
88.0 90.1 91.6 
(1) In accordance with ASC 260, Earnings Per Share, the control number for determining whether including potential common shares in the diluted EPS computation would be antidilutive is earnings from continuing operations.
v3.25.4
Summary of Significant Accounting Policies (Details)
$ in Millions
 12 Months Ended
Dec. 27, 2024
USD ($)
Dec. 31, 2025
USD ($)
numberOfGrantees
shares
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Jun. 27, 2025
Feb. 13, 2025
USD ($)
Apr. 28, 2022
USD ($)
Feb. 24, 2020
USD ($)
Accounting Policies [Line Items]                  
Revenue Recognition, Sales Discounts and Rebates   $ 4.2   $ 4.5 $ 3.1        
Operating Lease, Liability   20.2 $ 20.2            
Operating Lease, Right-of-Use Asset   $ 19.1 19.1 8.6          
Goodwill and Intangible Assets [Abstract]                  
Number of Reporting Units | numberOfGrantees   4              
Goodwill   $ 270.3 270.3 269.8 270.5        
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)   $ 0.0   0.0 0.0        
Property, Plant and Equipment [Abstract]                  
Document Fiscal Year Focus   2025              
Revenue Recognition, Sales Returns, Reserve for Sales Returns   $ 5.5   4.6 3.1        
Increase (Decrease) in Contract Receivables, Net   91.7   89.5          
Investments   8.8 8.8 7.4          
Share Repurchase Program, Authorized, Amount             $ 150.0 $ 150.0 $ 100.0
Goodwill, Impairment Loss   0.0   262.5 0.0        
Purchases of property and equipment included in accounts payable   2.1   1.7 1.1        
Pre-tax compensation expense   28.4   22.2 22.8        
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest   64.0   34.7 37.3        
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent   50.9   23.4 65.6        
Estimated Working Capital Adjustment, Net of Tax   1.3 1.3            
Investment, Affiliated Issuer, Noncontrolled   83.4 83.4 77.2          
Payment to Finance CMM Sale Seller Loan $ 6.4 0.0   6.4 0.0        
Seller Cash Balance Requirement   40.0              
Investment Interest Rate           13.00%      
Receivables, Fair Value Disclosure   5.9 5.9 6.4          
Accrued Separation Costs 13.5 4.8 4.8 $ 13.5          
Accrued Separation Cost Threhsold   $ 7.0 $ 7.0            
Revenue, Related Party [Extensible Enumeration]   Other Affiliates [Member]              
Accounts Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration]   Other Affiliates [Member] Other Affiliates [Member] Other Affiliates [Member]          
Other Asset Impairment Charges   $ 3.6   $ 0.0 0.0        
Sublease Income   1.0 $ 2.8 0.2 3.3        
Sublease, Operating Lease, Right-of-Use Asset   5.2 5.2 0.3          
Revenues   593.2   553.5 456.8        
Noncash Investing and Financing Items [Abstract]                  
Purchases of property and equipment included in accounts payable   2.1   1.7 1.1        
Related Party                  
Property, Plant and Equipment [Abstract]                  
Accounts and Other Receivables, Net, Current   4.2 $ 4.2 1.8          
Revenues   17.3              
Revision of Prior Period, Adjustment                  
Property, Plant and Equipment [Abstract]                  
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest   1.1              
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent   1.0              
Continuing Operations                  
Property, Plant and Equipment [Abstract]                  
Goodwill, Impairment Loss   $ 0.0     $ 0.0        
Immaterial Asset Acquisition | Customer relationships                  
Property, Plant and Equipment [Abstract]                  
Finite-Lived Customer Relationships, Gross       2.0          
Asset Acquisition, Contingent Consideration, Liability, Noncurrent       $ 1.7          
Treasury Stock, Common                  
Property, Plant and Equipment [Abstract]                  
Stock Repurchased During Period, Shares | shares   3,571,865   2,987,697 2,851,604        
Maximum                  
Goodwill and Intangible Assets [Abstract]                  
Finite-Lived Intangible Asset, Useful Life   15 years 15 years            
Minimum                  
Goodwill and Intangible Assets [Abstract]                  
Finite-Lived Intangible Asset, Useful Life   4 years 4 years            
Discontinued Operations, Disposed of by Sale [Member] | Consumer MEMS Microphones                  
Property, Plant and Equipment [Abstract]                  
Disposal Group Including Discontinued Operation, Preferred Stock Consideration 77.2                
Disposal Group, Including Discontinued Operation, Consideration 63.6                
Estimated Working Capital Adjustment $ 1.1                
Buildings and improvements | Maximum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   31 years 6 months 31 years 6 months            
Buildings and improvements | Minimum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   5 years 5 years            
Machinery and equipment | Maximum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   7 years 7 years            
Machinery and equipment | Minimum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   1 year 6 months 1 year 6 months            
Furniture and fixtures | Maximum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   5 years 5 years            
Furniture and fixtures | Minimum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   2 years 2 years            
Vehicles                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   3 years 3 years            
Software and software development costs | Maximum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   5 years 5 years            
Software and software development costs | Minimum                  
Property, Plant and Equipment [Abstract]                  
Property, plant and equipment, useful life   3 years 3 years            
Selling and Administrative Expenses                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   $ 23.6   $ 18.3 $ 19.3        
Selling and Administrative Expenses | Revision of Prior Period, Adjustment                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   0.9              
Research and Development Expense [Member]                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   3.3   2.4 1.9        
Research and Development Expense [Member] | Revision of Prior Period, Adjustment                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   0.1              
Cost of Sales                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   1.5   1.5 1.6        
Cost of Sales | Revision of Prior Period, Adjustment                  
Property, Plant and Equipment [Abstract]                  
Pre-tax compensation expense   0.1              
Precision Devices                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   132.6 $ 132.6 132.1 132.8        
MedTech & Specialty Audio                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   137.7 137.7 $ 137.7 $ 137.7        
MedTech & Specialty Audio                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   137.7 137.7            
High Performance Capacitors                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   43.6 43.6            
Radio Frequency Microwave Filters                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   19.6 19.6            
Cornell Dubilier                  
Goodwill and Intangible Assets [Abstract]                  
Goodwill   $ 69.4 $ 69.4            
v3.25.4
Disposed and Discontinued Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 27, 2024
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Costs to Sell     $ 5.8    
Payments for Commissions     1.8    
Proceeds from the sale of property, plant, and equipment   $ 11.4 0.0 $ 0.0 $ 12.5
Proceeds from the sale of fixed assets, fair value of control transferred       11.2  
Depreciation, Discontinued Operations     0.0 8.2 14.3
Amortization of Intangible Assets, Discontinued Operations     0.0 4.5 6.0
Capital Expenditure, Discontinued Operations     0.0 1.7 4.7
Disposal Group, Including Discontinued Operation, Noncash or Part Noncash Acquisition, Fixed Assets Acquired   $ 0.2 0.0 0.6 0.2
Payment to Finance CMM Sale Seller Loan $ 6.4   0.0 6.4 0.0
Proceeds from Sales of Business, Affiliate and Productive Assets 58.0   0.0 58.0 0.0
Estimated Working Capital Adjustment, Net of Tax     1.3    
Discontinued Operations          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax     (6.7) (261.2) 6.8
Discontinued Operations, Disposed of by Sale [Member] | Consumer MEMS Microphones          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Disposal Group, Including Discontinued Operation, Consideration 63.6        
Disposal Group, Including Discontinued Operation, Total Consideration 141.9        
Estimated Working Capital Adjustment $ 1.1        
Discontinued Operations, Disposed of by Sale [Member] | Consumer MEMS Microphones | Discontinued Operations          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Discontinued Operation, Tax Effect of Discontinued Operation     2.0 15.5 0.9
Gain (loss) on disposition of intangible assets, net     0.0 (5.4) 0.0
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax     (4.7) (245.7) 7.7
Disposal Group, Including Discontinued Operation, Revenue     0.0 269.3 256.2
Disposal Group, Including Discontinued Operation, Costs of Goods Sold     0.6 195.7 189.0
Disposal Group, Including Discontinued Operation, Gain (Loss) on Disposition of Property Plant Equipment     0.0 (1.1) (10.0)
Disposal Group, Including Discontinued Operation, Cost of Goods Sold, Restructuring Charges     0.0 (0.2) (2.4)
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)     (0.6) 74.9 79.6
Disposal Group, Including Discontinued Operation, Research and Development Expenses     0.4 38.1 46.1
Disposal Group, Including Discontinued Operation, General and Administrative Expense     0.9 27.1 24.5
Disposal Group, Including Discontinued Operation, Goodwill, Impairment Loss     0.0 262.5 0.0
Disposal Group, Including Discontinued Operation, Consideration     0.0 0.0 1.3
Disposal Group, Including Discontinued Operation, Operating Expense     1.3 327.7 71.9
Disposal Group, Including Discontinued Operation, Operating Income (Loss)     (1.9) (252.8) 7.7
Gain (Loss) on Disposition of Business, net Costs to Sell     2.8 (1.7) 0.0
Discontinued Operations, Held-for-Sale or Disposed of by Sale          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Disposal Group, Including Discontinued Operation, Gain (Loss) on Disposition of Property Plant Equipment       (1.1) (11.0)
Estimated Working Capital Adjustment     $ 1.8    
Discontinued Operations, Held-for-Sale or Disposed of by Sale | Gain Loss on Disposition of Property Plant Equipment          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Disposal Group, Including Discontinued Operation, Gain (Loss) on Disposition of Property Plant Equipment       (1.1) (10.0)
Discontinued Operations, Held-for-Sale or Disposed of by Sale | Cost of Goods Sold, Restructuring Charges [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Disposal Group, Including Discontinued Operation, Gain (Loss) on Disposition of Property Plant Equipment       $ 0.0 $ (1.0)
v3.25.4
Disposed and Discontinued Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Gain (Loss) on Disposition of Business $ (2.8) $ 6.8 $ 0.0
v3.25.4
Disposed and Discontinued Operations (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 27, 2024
Discontinued Operations and Disposal Groups [Abstract]      
Accrued Separation Costs $ 4.8 $ 13.5 $ 13.5
v3.25.4
Acquisition Acquisition (Details) - USD ($)
$ in Millions
 12 Months Ended
Nov. 01, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Abstract]        
Business Combination, Integration, Restructuring, and Other Related Costs  
3. Acquisition

On November 1, 2023, the Company acquired (i) all the issued and outstanding shares of Kaplan Electronics, Inc. and (ii) certain assets of Cornell Dubilier Electronics, Inc. and CD Aero, LLC (collectively, "Cornell Dubilier" or "CD") for aggregate consideration of $259.8 million, which equated to a total fair value of consideration transferred of $246.8 million. This purchase price of $246.8 million consisted of $136.9 million in cash payments and an interest-free seller note (the “Seller Note”) with a fair value of $109.9 million (see Note 11. Borrowings).

CD is a manufacturer of film, electrolytic, and mica capacitors used in medtech, defense, and industrial electrification applications. The transaction was accounted for as a business combination under ASC 805. The Company has completed the purchase price allocation for the acquisition of CD.
The table below represents the allocation of the purchase price to net assets acquired as of November 1, 2023:
(in millions)
Receivables$13.4 
Inventories40.1 
Prepaid and other current assets1.0 
Property, plant, and equipment30.6 
Customer relationships83.0 
Developed technology19.1 
Trademarks14.0 
Operating lease right-of-use assets3.4 
Other assets and deferred charges1.8 
Goodwill69.3 
Current liabilities assumed(10.4)
Deferred income taxes(15.8)
Long-term operating lease liabilities(2.7)
Total purchase price$246.8 
The fair value for customer relationships was determined using the multi-period excess earnings method under the income approach. This method reflects the present value of expected future cash flows less charges representing the contribution of other assets to those cash flows. The fair value for developed technology and trademarks was determined using the relief-from-royalty method under the income approach. The fair value measurements of the intangible assets are based on significant unobservable inputs, and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of customer relationships, developed technology, and trademarks include forecasted revenue and terminal growth rates, profit margins, customer attrition rates, royalty rates, and discount rates. The weighted-average discount rates applied to expected future cash flows to reflect the risks related to intangible assets identified in connection with the CD acquisition were as follows:

Customer relationships22.8 %
Developed technology20.2 %
Trademarks20.1 %

The customer relationships, developed technology, and trademarks identified will be amortized on a straight-line basis over their estimated useful lives. The weighted-average useful lives assigned to these assets were as follows:

Customer relationships10 years
Developed technology9 years
Trademarks14 years

The excess of the total purchase price over the total fair value of the identifiable assets and liabilities was recorded as goodwill. The goodwill recognized is primarily attributable to synergies expected to be realized on this transaction and the assembled workforce. Of the total goodwill of $69.3 million recognized for this transaction, approximately $27.5 million is tax deductible. All goodwill related to CD has been allocated to the PD segment, which is the segment expected to benefit from the acquisition.

The Company believes the fair values assigned to intangible assets are based on reasonable assumptions and estimates that approximate the amounts a market participant would pay for these intangible assets as of the acquisition date. Actual results could differ materially from these estimates.
Impact of CD Acquisition and Pro-Forma Summary

Included in the Consolidated Statements of Earnings are CD’s revenues and loss before income taxes of $20.2 million and $1.1 million, respectively, from the date of acquisition through December 31, 2023. The $1.1 million loss before income taxes includes employee retention and intangible asset amortization expense of $1.0 million and $1.6 million, respectively.

In accordance with ASC 805, the following unaudited pro-forma summary presents consolidated financial information as if CD had been acquired as of the beginning of the year prior to the acquisition date. The unaudited pro-forma financial information is based on historical results of operations and financial positions of the Company and CD. The pro-forma earnings are adjusted to reflect the comparable impact of depreciation and amortization expense resulting from the fair value measurement of tangible and intangible assets, nonrecurring deal-related costs, employee retention, inventory step-up charges, and interest expense on borrowings to fund the acquisition.

The unaudited pro-forma financial information does not necessarily represent the results that would have occurred had the transaction occurred as of the beginning of the year prior to the acquisition date. In addition, the unaudited pro-forma information should not be deemed to be indicative of future results.
(in millions)Year Ended December 31, 2023
Revenues:
As reported$456.8 
Pro-forma565.1 
Earnings from continuing operations:
As reported$65.6 
Pro-forma63.3 
Basic earnings per share from continuing operations:
As reported$0.72 
Pro-forma0.70 
Diluted earnings per share from continuing operations:
As reported$0.72 
Pro-forma0.69 
    
Business Combination [Line Items]        
Goodwill   $ 270.3 $ 269.8 $ 270.5
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   7 years 9 months 18 days    
Cornell Dubilier        
Business Combination [Line Items]        
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less) $ 246.8      
Business Combination, Recognized Asset Acquired, Receivable, Current 13.4      
Business Combination, Recognized Asset Acquired, Inventory, Current 40.1      
Business Combination, Recognized Asset Acquired, Prepaid Expense and Other Asset, Current 1.0      
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment 30.6      
Business Combination, Recognized Identifiable Assets [Line Items] 3.4      
Business Combination, Recognized Asset Acquired, Other Asset, Noncurrent 1.8      
Goodwill 69.3      
Business Combination, Recognized Liability Assumed, Liability, Current (10.4)      
Business Combination, Recognized Liability Assumed, Deferred Tax Liability (15.8)      
Business Combination, Recognized Liability Assumed, Lease Obligation (2.7)      
Business Combination, Goodwill, Expected Tax Deductible, Amount 27.5      
Customer relationships        
Business Combination [Line Items]        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   7 years 4 months 24 days    
Customer relationships | Cornell Dubilier        
Business Combination [Line Items]        
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 83.0      
Acquired Intangible Assets, Weighted Average Discount Rate Percent 22.80%      
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 10 years      
Developed technology        
Business Combination [Line Items]        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   6 years 10 months 24 days    
Developed technology | Cornell Dubilier        
Business Combination [Line Items]        
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 19.1      
Acquired Intangible Assets, Weighted Average Discount Rate Percent 20.20%      
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 9 years      
Trademarks [Member]        
Business Combination [Line Items]        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   12 years    
Trademarks [Member] | Cornell Dubilier        
Business Combination [Line Items]        
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 14.0      
Acquired Intangible Assets, Weighted Average Discount Rate Percent 20.10%      
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 14 years      
Precision Devices        
Business Combination [Line Items]        
Goodwill   $ 132.6 $ 132.1 $ 132.8
Precision Devices | Cornell Dubilier        
Business Combination [Line Items]        
Business Combination, Consideration Transferred $ 259.8      
Payments to Acquire Businesses, Gross 136.9      
Business Combination, Consideration Transferred, Liabilities Incurred 109.9      
Precision Devices | Cornell Dubilier | Seller Note        
Business Combination [Line Items]        
Business Combination, Consideration Transferred, Liabilities Incurred $ 122.9      
v3.25.4
Acquisition Acquisition - Selected Unaudited Pro-forma Combined Statement of Earnings (Details) - USD ($)
$ / shares in Units, $ in Millions
 2 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 01, 2023
Business Combination [Line Items]          
Amortization Expense   $ 16.2 $ 17.0 $ 7.5  
Revenues   593.2 553.5 456.8  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent   $ 50.9 $ 23.4 $ 65.6  
Income (Loss) from Continuing Operations, Per Basic Share   $ 0.59 $ 0.26 $ 0.72  
Income (Loss) from Continuing Operations, Per Diluted Share   $ 0.58 $ 0.26 $ 0.72  
Goodwill $ 270.5 $ 270.3 $ 269.8 $ 270.5  
Cornell Dubilier          
Business Combination [Line Items]          
Business Combination, Acquiree's Revenue since Acquisition Date, Actual 20.2        
Business Combination, Acquiree's Earnings (Loss) since Acquisition Date, Actual 1.1        
Amortization Expense $ 1.6        
Revenues       456.8  
Business Combination, Pro Forma Information, Pro Forma Revenue       565.1  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent       65.6  
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax       $ 63.3  
Income (Loss) from Continuing Operations, Per Basic Share       $ 0.72  
Business Combination, Pro Forma Information, Pro Forma Earnings Per Share, Basic       0.70  
Income (Loss) from Continuing Operations, Per Diluted Share       0.72  
Business Combination, Pro Forma Information, Pro Forma Earnings Per Share, Diluted       $ 0.69  
Employee Retention Liabilities   $ 1.0      
Goodwill         $ 69.3
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory, Net [Abstract]    
Raw materials $ 103.4 $ 94.2
Work in progress 27.1 26.1
Finished goods 40.5 35.5
Subtotal 171.0 155.8
Less reserves (46.4) (37.8)
Total $ 124.6 $ 118.0
v3.25.4
Property, Plant and Equipment, net (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]          
Property plant and equipment, gross     $ 407.6 $ 408.0  
Less Accumulated depreciation     (267.4) (277.9)  
Property, plant and equipment, net     140.2 130.1  
Gain (Loss) on Disposition of Property Plant Equipment $ (1.1)   0.1 (1.1) $ (10.0)
Proceeds from the sale of property, plant, and equipment   $ 11.4 0.0 0.0 12.5
Proceeds from the sale of fixed assets, fair value of control transferred       11.2  
Other Asset Impairment Charges     3.6 0.0 0.0
Depreciation     20.1 20.6 $ 18.7
Land          
Property, Plant and Equipment [Line Items]          
Property plant and equipment, gross     14.1 14.1  
Buildings and improvements          
Property, Plant and Equipment [Line Items]          
Property plant and equipment, gross     99.1 117.2  
Machinery, equipment, and other          
Property, Plant and Equipment [Line Items]          
Property plant and equipment, gross     $ 294.4 $ 276.7  
v3.25.4
Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Beginning balance $ 269.8 $ 270.5
Goodwill, Measurement Period Adjustment   (0.3)
Goodwill, Foreign Currency Translation, Gain (Loss) 0.5 (0.4)
Ending balance 270.3 269.8
Precision Devices    
Goodwill [Roll Forward]    
Beginning balance 132.1 132.8
Goodwill, Foreign Currency Translation, Gain (Loss) 0.5 (0.4)
Ending balance 132.6 132.1
Precision Devices | Cornell Dubilier    
Goodwill [Roll Forward]    
Goodwill, Measurement Period Adjustment   (0.3)
MedTech & Specialty Audio    
Goodwill [Roll Forward]    
Beginning balance 137.7 137.7
Goodwill, Measurement Period Adjustment   0.0
Goodwill, Foreign Currency Translation, Gain (Loss) 0.0 0.0
Ending balance $ 137.7 $ 137.7
v3.25.4
Goodwill and Other Intangible Assets - Intangible Assets and Amortization Expense (Details) - USD ($)
$ in Millions
 2 Months Ended 12 Months Ended
Nov. 01, 2023
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Intangible Assets, Gross     $ 160.7 $ 160.8  
Accumulated Amortization     51.6 35.4  
Intangible Assets, Net     141.1 157.4  
Payments to Acquire Assets, Investing Activities     $ 0.0 0.0 $ 0.3
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life     7 years 9 months 18 days    
Amortization Expense     $ 16.2 17.0 7.5
Cornell Dubilier          
Finite-Lived Intangible Assets [Line Items]          
Amortization Expense   $ 1.6      
Selling and Administrative Expenses          
Finite-Lived Intangible Assets [Line Items]          
Amortization Expense     16.2 17.0 $ 7.5
Trademarks [Member]          
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Intangible Assets, Gross     15.2 15.2  
Accumulated Amortization     $ 2.8 1.7  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life     12 years    
Trademarks [Member] | Cornell Dubilier          
Finite-Lived Intangible Assets [Line Items]          
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 14.0        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 14 years        
Customer relationships          
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Intangible Assets, Gross     $ 118.4 118.5  
Accumulated Amortization     $ 39.5 27.3  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life     7 years 4 months 24 days    
Customer relationships | Cornell Dubilier          
Finite-Lived Intangible Assets [Line Items]          
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 83.0        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 10 years        
Customer relationships | Immaterial Asset Acquisition          
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Customer Relationships, Gross       2.0  
Asset Acquisition, Contingent Consideration, Liability, Noncurrent       1.7  
Developed technology          
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Intangible Assets, Gross     $ 26.3 26.3  
Accumulated Amortization     $ 8.8 6.0  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life     6 years 10 months 24 days    
Developed technology | Cornell Dubilier          
Finite-Lived Intangible Assets [Line Items]          
Business Combination, Recognized Asset Acquired, Identifiable Intangible Asset, Finite-Lived $ 19.1        
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 9 years        
Other          
Finite-Lived Intangible Assets [Line Items]          
Finite-Lived Intangible Assets, Gross     $ 0.8 0.8  
Accumulated Amortization     $ 0.5 0.4  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life     5 years 3 months 18 days    
Trademarks [Member]          
Finite-Lived Intangible Assets [Line Items]          
Indefinite-lived Intangible Assets (Excluding Goodwill)     $ 32.0 $ 32.0  
v3.25.4
Goodwill and Other Intangible Assets - Indefinite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Trademarks    
Unamortized intangible assets:    
Gross Carrying Amount $ 32.0 $ 32.0
v3.25.4
Goodwill and Other Intangible Assets - Future Amortization Expense (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Future Amortization Expense [Abstract]  
2023 $ 16.0
2024 15.9
2025 15.2
2026 12.8
2027 11.7
Finite-Lived Intangible Asset, Expected Amortization, after Year Five 37.5
Finite-Lived Intangible Assets, Net $ 109.1
v3.25.4
Leases (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 01, 2023
Finance Lease, Right-of-Use Asset $ 0.6 $ 0.6 $ 1.1    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net Property, Plant and Equipment, Net    
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued expenses Other accrued expenses Other accrued expenses    
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Noncurrent Other Liabilities, Noncurrent Other Liabilities, Noncurrent    
Finance Lease, Liability, Noncurrent $ 0.3 $ 0.3 $ 0.4    
Sublease, Operating Lease, Right-of-Use Asset 5.2 5.2 $ 0.3    
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year 5.2 5.2      
Finance Lease, Liability, Payments, Remainder of Fiscal Year $ 0.4 $ 0.4      
Operating Lease, Weighted Average Remaining Lease Term 6 years 6 months 6 years 6 months 2 years 9 months 18 days    
Operating Lease, Payments $ 5.6   $ 5.7 $ 9.1  
Finance Lease, Right-of-Use Asset 0.6 $ 0.6 1.1    
Operating Lease, Cost 6.4   6.9 7.9  
Finance Lease, Right-of-Use Asset, Amortization 0.4   2.3 2.3  
Finance Lease, Interest Expense 0.0   0.1 0.2  
Sublease Income (1.0) (2.8) (0.2) (3.3)  
Lease, Cost 5.8   9.1 7.1  
Finance Lease, Liability 0.7 $ 0.7 0.8    
Finance Lease, Interest Payment on Liability 0.0   0.1 0.2  
Finance Lease, Principal Payments 0.5   1.5 2.5  
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 15.8   2.0 2.6  
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 0.4   $ 0.2 $ 0.7  
Finance Lease, Weighted Average Remaining Lease Term 2 years 4 months 24 days 2 years 4 months 24 days 2 years 7 months 6 days    
Operating Lease, Weighted Average Discount Rate, Percent 6.60% 6.60% 5.60%    
Finance Lease, Weighted Average Discount Rate, Percent 6.50% 6.50% 5.90%    
Lessee, Operating Lease, Liability, Payments, Due Year Two $ 4.6 $ 4.6      
Finance Lease, Liability, Payments, Due Year Two 0.2 0.2      
Lessee, Operating Lease, Liability, Payments, Due Year Three 3.3 3.3      
Finance Lease, Liability, Payments, Due Year Three 0.1 0.1      
Lessee, Operating Lease, Liability, Payments, Due Year Four 2.1 2.1      
Finance Lease, Liability, Payments, Due Year Four 0.0 0.0      
Lessee, Operating Lease, Liability, Payments, Due Year Five 2.1 2.1      
Finance Lease, Liability, Payments, Due Year Five 0.0 0.0      
Lessee, Operating Lease, Liability, Payments, Due after Year Five 7.7 7.7      
Finance Lease, Liability, Payments, Due after Year Five 0.0 0.0      
Lessee, Operating Lease, Liability, Payments, Due 25.0 25.0      
Finance Lease, Liability, Payment, Due 0.7 0.7      
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (4.8) (4.8)      
Finance Lease, Liability, Undiscounted Excess Amount 0.0 0.0      
Operating Lease, Liability $ 20.2 $ 20.2      
Cornell Dubilier          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Liabilities         $ 3.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finance Lease Liabilities         $ 0.1
Maximum [Member]          
Lessee, Operating Lease, Term of Contract 9 years 9 years      
Lessor, Operating Lease, Renewal Term 6 years 6 years      
Minimum [Member]          
Lessee, Operating Lease, Term of Contract 1 year 1 year      
Lessee Operating and Finance Leases Options to Terminate Leases Term 1 year        
v3.25.4
Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 27, 2024
Accrued Liabilities and Other Liabilities [Abstract]      
Restructuring and exit costs $ 6.0 $ 5.0  
Sales volume rebates 3.3 3.8  
Accrued taxes other than income taxes 5.0 2.0  
Accrued Insurance 2.1 1.9  
Accrued Sales Commission 2.1 1.7  
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] 0.4 0.4  
Derivative Liability, Current 1.5 2.5  
Deferred Revenue 1.2 1.7  
Warranty 0.5 0.6  
Other 1.3 0.5  
Other accrued expenses 28.2 33.6  
Accrued Separation Costs 4.8 $ 13.5 $ 13.5
Accrued Separation Cost Threhsold $ 7.0    
v3.25.4
Accrued Expenses and Other Liabilities - Schedule of Other Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]    
Deferred Revenue, Revenue Recognized $ 19.8 $ 0.0
Deferred compensation, including defined benefit plans 14.9 14.7
Unrecognized tax benefits 3.1 2.5
Finance Lease, Liability, Noncurrent $ 0.3 $ 0.4
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Total Total
Restructuring and exit costs $ 0.0 $ 4.8
Derivative Liability, Noncurrent $ 0.0 $ 1.0
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Total Total
Other Sundry Liabilities, Noncurrent $ 0.1 $ 0.3
Total $ 38.2 $ 23.7
v3.25.4
Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities - Product Warrant Accrual Rollforward (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Warranty Accrual [Roll Forward]      
Beginning balance, January 1 $ 0.6 $ 0.7 $ 0.4
Provision for warranties 0.0 0.0 0.4
Settlements made (0.1) (0.4) (0.3)
Standard Product Warranty Accrual, Foreign Currency Translation Gain (Loss) 0.0   0.2
Standard Product Warranty Accrual, Additions from Business Acquisition   0.3  
Ending balance, December 31 $ 0.5 $ 0.6 $ 0.7
v3.25.4
Restructuring and Related Activities - Costs Recognized and Remaining Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Gain (Loss) on Disposition of Property Plant Equipment $ 1.1 $ (0.1) $ 1.1 $ 10.0
Restructuring Charges   3.8 3.4 3.3
Restructuring Charges   $ 3.8 $ 3.4 $ 3.3
v3.25.4
Restructuring and Related Activities - Restructuring Activities (Details) - USD ($)
$ in Millions
 2 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2023
Jun. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     $ (3.8) $ (3.4) $ (3.3)
Document Fiscal Year Focus     2025    
Restructuring Reserve [Roll Forward]          
Beginning balance     $ 9.8 18.9 19.1
Restructuring charges (continuing operations)     (3.8) (3.4) (3.3)
Payments     (7.9) (10.1) (2.5)
Other, including foreign currency (3) (4)     (0.3) 2.4 1.0
Ending balance $ 18.9   $ 6.0 9.8 18.9
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]     Cost of goods sold, Restructuring charges    
Restructuring charges     $ 3.0 1.5 2.2
Restructuring charges - cost of goods sold     0.8 1.9 1.1
Gain (Loss) on Disposition of Property Plant Equipment   $ 1.1 (0.1) 1.1 10.0
Cornell Dubilier          
Restructuring Reserve [Roll Forward]          
Restructuring charges (continuing operations) (1.1)        
Consumer MEMS Microphones | Discontinued Operations, Disposed of by Sale [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     0.0 0.2 2.5
Severance Pay and Benefits          
Restructuring Reserve [Roll Forward]          
Beginning balance     0.4 2.1 0.0
Restructuring charges (continuing operations)     (3.8) (3.4) (3.3)
Payments     (3.0) (4.4) (2.1)
Other, including foreign currency (3) (4)     0.0 0.7 (0.9)
Ending balance 2.1   1.2 0.4 2.1
Facility Closing [Member]          
Restructuring Reserve [Roll Forward]          
Beginning balance     9.4 16.8 19.1
Restructuring charges (continuing operations)     0.0 0.0 0.0
Payments     (4.9) (5.7) (0.4)
Other, including foreign currency (3) (4)     0.3 1.7 1.9
Ending balance $ 16.8   4.8 9.4 16.8
Facility Closing [Member] | Accrued Liabilities          
Restructuring Reserve [Roll Forward]          
Beginning balance     4.6    
Ending balance     4.8 4.6  
Facility Closing [Member] | Precision Devices          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges       (0.7)  
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     (1.2) 0.0 (0.8)
Operating segments          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     (3.8)    
Precision Devices | Operating segments          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     (2.2) (3.4) (2.5)
MedTech & Specialty Audio | Operating segments          
Restructuring Cost and Reserve [Line Items]          
Restructuring Charges     $ (0.4) $ 0.0 $ 0.0
v3.25.4
Restructuring and Related Activities - Balance Sheet Location (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve $ 6.0 $ 9.8 $ 18.9 $ 19.1
Other, including foreign currency (3) (4) (0.3) 2.4 1.0  
Facility Closing [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve 4.8 9.4 16.8 $ 19.1
Other, including foreign currency (3) (4) 0.3 1.7 $ 1.9  
Other accrued expenses        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve 6.0 5.0    
Other liabilities        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve $ 0.0 $ 4.8    
v3.25.4
Hedging Transactions and Derivative Instruments - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Document Fiscal Year Focus 2025    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax $ (0.6) $ 0.8 $ 1.1
Foreign Currency Gain (Loss) [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Not Designated as Hedging Instrument      
Derivative [Line Items]      
Derivative, Notional Amount 181.6 148.7  
Foreign Exchange Forward [Member] | Cash Flow Hedging | Designated as Hedging Instrument      
Derivative [Line Items]      
Derivative, Notional Amount 46.9 43.4  
Foreign Exchange Contract [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Derivative [Line Items]      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 2.4 (3.3) (5.0)
Foreign Exchange Contract [Member] | Cash Flow Hedging | Designated as Hedging Instrument | Other expense (income), net      
Derivative [Line Items]      
Gain (loss) on derivatives $ 0.0 $ 0.0 $ 0.0
v3.25.4
Hedging Transactions and Derivative Instruments - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]      
Cost of goods sold $ 332.5 $ 316.8 $ 251.9
Interest Income (Expense), Operating and Nonoperating (9.3) (16.3) (5.4)
Other Nonoperating Income (Expense) $ (3.2) (0.8) (0.7)
Document Fiscal Year Focus 2025    
Derivative Liability, Current $ 1.5 2.5  
Derivative Liability, Noncurrent 0.0 (1.0)  
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Notional Amount 46.9 43.4  
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract [Member] | Continuing Operations      
Derivatives, Fair Value [Line Items]      
Derivative Asset, Current 1.1 0.2  
Derivative Liability, Current (1.4) (1.6)  
Derivative Liability, Noncurrent 0.0 (1.0)  
Not Designated as Hedging Instrument, Economic Hedge [Member] | Not Designated as Hedging Instrument | Foreign Currency Gain (Loss) [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Notional Amount 181.6 148.7  
Not Designated as Hedging Instrument, Economic Hedge [Member] | Not Designated as Hedging Instrument | Foreign Currency Economic Hedge | Continuing Operations      
Derivatives, Fair Value [Line Items]      
Derivative Asset, Current 0.7 0.0  
Derivative Liability, Current 0.1 (0.9)  
Cost of Sales | Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract [Member]      
Derivatives, Fair Value [Line Items]      
Gain (loss) on derivatives 0.2 (1.5) (2.7)
Cost of Sales | Not Designated as Hedging Instrument, Economic Hedge [Member] | Not Designated as Hedging Instrument | Foreign Currency Economic Hedge      
Derivatives, Fair Value [Line Items]      
Gain (loss) on derivatives 0.0 0.0 0.0
Other expense (income), net | Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract [Member]      
Derivatives, Fair Value [Line Items]      
Gain (loss) on derivatives 0.0 0.0 0.0
Other expense (income), net | Not Designated as Hedging Instrument, Economic Hedge [Member] | Not Designated as Hedging Instrument | Foreign Currency Economic Hedge      
Derivatives, Fair Value [Line Items]      
Gain (loss) on derivatives $ (6.4) $ 3.8 $ 3.3
v3.25.4
Hedging Transaction and Derivative Instruments - Fair Value of Derivatives Qualifying as Hedging Instrument (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Foreign Exchange Contract [Member] | Designated as Hedging Instrument | Cash Flow Hedging | Other expense (income), net      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (loss) on derivatives $ 0.0 $ 0.0 $ 0.0
Foreign Exchange Contract [Member] | Designated as Hedging Instrument | Cash Flow Hedging | Cost of Sales      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (loss) on derivatives 0.2 (1.5) (2.7)
Foreign Currency Economic Hedge | Not Designated as Hedging Instrument | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other expense (income), net      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (loss) on derivatives (6.4) 3.8 3.3
Foreign Currency Economic Hedge | Not Designated as Hedging Instrument | Not Designated as Hedging Instrument, Economic Hedge [Member] | Cost of Sales      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (loss) on derivatives $ 0.0 $ 0.0 $ 0.0
v3.25.4
Borrowings and Lines of Credit - Schedule of Long-term Debt Instruments (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 25, 2023
Debt Instrument [Line Items]        
Document Fiscal Year Focus 2025      
Long-term borrowings [Abstract]        
Line of Credit Facility, Commitment Fee Percentage 0.50%      
Long-term Debt, Maturities, Repayments of Principal in Year Four $ 0      
Long-term Debt, Maturities, Repayments of Principal in Year Five 0      
Long-term debt (noncurrent) 114,000,000.0 $ 134,000,000.0    
Long-term Debt, Current Maturities 0 68,500,000    
Long-term Line of Credit 114,000,000.0 134,000,000.0    
Long-term debt $ 114,000,000.0 202,500,000    
Debt instrument, Convenant, Senior Secured Leverage Ratio Under Accordion Feature, Maximum 2.00      
Debt covenant, EBITDA to interest ratio 3.00      
Debt Instrument, Covenant, Debt to EBITDA, Maximum 3.75      
Debt Instrument, Covenant, Senior Secured Leverage Ratio, Maximum 3.25      
Repayments of Short-Term Debt   72,700,000    
Credit Facility due February 8, 2028        
Long-term borrowings [Abstract]        
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year $ 0      
Long-term Debt, Maturities, Repayments of Principal in Year Two 0      
Long-term Debt, Maturities, Repayments of Principal in Year Three 114,000,000.0      
Line of credit facility, maximum borrowing capacity 400,000,000      
Line of credit facility, accordion feature, increase limit 200,000,000      
Repayments of Short-Term Debt 0      
Credit Facility due February 8, 2028 | Euro Member Countries, Euro        
Long-term borrowings [Abstract]        
Line of credit facility, maximum borrowing capacity 100,000,000      
September 25, 2023 Credit Facility Amendment        
Long-term borrowings [Abstract]        
Secured Long-Term Debt, Noncurrent       $ 122,900,000
Seller Note        
Long-term borrowings [Abstract]        
Other Notes Payable $ 0 $ 68,500,000    
Credit Facilities [Member]        
Long-term borrowings [Abstract]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 6.10% 7.07% 6.55%  
Letter of Credit | Credit Facility due February 8, 2028        
Long-term borrowings [Abstract]        
Line of credit facility, maximum borrowing capacity $ 50,000,000      
Weighted Average [Member]        
Long-term borrowings [Abstract]        
Line of Credit Facility, Commitment Fee Percentage 0.25% 0.26% 0.23%  
Minimum | Credit Facility due February 8, 2028        
Long-term borrowings [Abstract]        
Line of Credit Facility, Commitment Fee Percentage 0.225%      
Maximum | Credit Facility due February 8, 2028        
Long-term borrowings [Abstract]        
Line of Credit Facility, Commitment Fee Percentage 0.35%      
v3.25.4
Borrowings and Lines of Credit - Schedule of Interest Expense and Interest Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Interest Expense, Borrowings $ 13.0 $ 20.1 $ 7.4
Interest Income, Operating (3.7) (3.8) (2.0)
Interest Income (Expense), Operating 9.3 16.3 5.4
Interest Expense, Debt $ 4.2 $ 7.5 $ 1.3
v3.25.4
Borrowings and Lines of Credit Borrowings and Lines of Credit - Narrative (Details)
$ / shares in Units, $ in Millions
 2 Months Ended 12 Months Ended
Nov. 01, 2023
USD ($)
Rate
Dec. 31, 2023
USD ($)
Dec. 31, 2025
USD ($)
$ / shares
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Sep. 30, 2025
USD ($)
Debt Instrument [Line Items]            
Long-term Debt, Current Maturities     $ 0.0 $ 68.5    
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share | $ / shares     $ (0.08) $ (2.93) $ 0.08  
Debt covenant, EBITDA to interest ratio     3.00      
Debt Instrument, Covenant, Debt to EBITDA, Maximum     3.75      
Debt Instrument, Covenant, Senior Secured Leverage Ratio, Maximum     3.25      
Long-term debt     $ 114.0 $ 134.0    
Net deferred tax asset     $ 81.3 90.6    
Document Fiscal Year Focus     2025      
Line of Credit Facility, Commitment Fee Percentage     0.50%      
Restructuring Charges     $ 3.8 3.4 $ 3.3  
Restructuring charges     3.8 3.4 3.3  
Repayments of Short-Term Debt       72.7    
Cornell Dubilier            
Debt Instrument [Line Items]            
Restructuring charges   $ 1.1        
Cornell Dubilier | Precision Devices            
Debt Instrument [Line Items]            
Business Combination, Consideration Transferred, Liabilities Incurred $ 109.9          
Cornell Dubilier | Seller Note | Precision Devices            
Debt Instrument [Line Items]            
Business Combination, Consideration Transferred, Liabilities Incurred $ 50.0          
Imputed Interest Rate on Future Payments | Rate 7.10%          
Severance Pay and Benefits            
Debt Instrument [Line Items]            
Restructuring charges     3.8 3.4 3.3  
Facility Closing [Member]            
Debt Instrument [Line Items]            
Restructuring charges     $ 0.0 $ 0.0 $ 0.0  
Seller Note | Cornell Dubilier | Precision Devices            
Debt Instrument [Line Items]            
Business Combination, Consideration Transferred, Liabilities Incurred $ 122.9          
Indemnity Claim           $ 0.2
Credit Facilities            
Debt Instrument [Line Items]            
Long-term Debt, Weighted Average Interest Rate, at Point in Time   6.55% 6.10% 7.07% 6.55%  
Minimum | Credit Facility due February 8, 2028            
Debt Instrument [Line Items]            
Line of Credit Facility, Commitment Fee Percentage     0.50%      
Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Credit Facility due February 8, 2028            
Debt Instrument [Line Items]            
Debt Instrument, Basis Spread on Variable Rate     1.50%      
Maximum | Credit Facility due February 8, 2028            
Debt Instrument [Line Items]            
Line of Credit Facility, Commitment Fee Percentage     1.50%      
Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Credit Facility due February 8, 2028            
Debt Instrument [Line Items]            
Debt Instrument, Basis Spread on Variable Rate     2.50%      
Weighted Average            
Debt Instrument [Line Items]            
Line of Credit Facility, Commitment Fee Percentage     0.25% 0.26% 0.23%  
v3.25.4
Income Taxes - Income before Tax, Domestic and Foreign (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Document Fiscal Year Focus 2025    
Components of Earnings before Income Tax [Abstract]      
Domestic $ 60.8 $ 32.2 $ (118.5)
Foreign 3.2 2.5 155.8
(Loss) earnings before income taxes 64.0 34.7 37.3
Undistributed earnings of foreign subsidiaries 1,500.0    
Unrecognized Tax Benefits, Income Tax Penalties Accrued 0.6 $ 0.3 $ 0.0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 1.5    
Income Tax Paid, Federal, after Refund Received 0.8    
Income Tax Paid, State and Local, after Refund Received 0.8    
Income Taxes Paid, Net 8.4    
UNITED KINGDOM      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 1.9    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received 1.9    
DENMARK      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 0.9    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0.9    
JAPAN      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 0.4    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0.4    
MALAYSIA      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 2.8    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received 2.8    
PHILIPPINES      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 0.5    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0.5    
Foreign Tax Jurisdiction, Other      
Components of Earnings before Income Tax [Abstract]      
Income Tax Paid, Foreign, after Refund Received 0.3    
Operating Loss Carryforwards [Line Items]      
Income Tax Paid, Foreign, after Refund Received $ 0.3    
v3.25.4
Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Document Fiscal Year Focus 2025    
Current:      
U.S. Federal $ 0.3 $ 0.9 $ (1.8)
State and local 1.0 0.5 0.3
Foreign 5.3 4.0 15.1
Total current tax expense 6.6 5.4 13.6
Deferred:      
U.S. Federal 5.8 4.5 (38.8)
State and local 0.7 0.0 (2.4)
Foreign 0.0 1.4 (0.7)
Total deferred tax expense (benefit) 6.5 5.9 (41.9)
Total income tax expense (benefit) $ 13.1 11.3 (28.3)
Effective Income Tax Rate Reconciliation, Tax Holiday, Percent   $ 0.6 $ 0.5
v3.25.4
Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Holiday [Line Items]      
Document Fiscal Year Focus 2025    
Effective Income Tax Rate Reconciliation [Abstract]      
Income tax expense at U.S. federal statutory income tax rate $ 13.5 $ 7.3 $ 7.8
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent (1.40%)    
State and local taxes, net of federal income tax benefit $ (0.9) 0.5 (2.0)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent 2.10%    
Foreign operations tax effect $ 1.4 0.4 4.9
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent (7.70%)    
Effective Income Tax Rate Reconciliation, GILTI, Percent (0.20%)    
Effective Income Tax Rate Reconciliation, GILTI, Amount $ (0.1)    
Effective Income Tax Rate Reconciliation, FDII, Percent (9.00%)    
Effective Income Tax Rate Reconciliation, FDII, Amount $ (5.8)    
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Percent 3.90%    
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount $ 2.5    
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent (2.20%)    
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount $ 5.0    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent 1.20%    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent 0.80%    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount $ 0.5    
Effective Income Tax Rate Reconciliation, Tax Contingency, Percent (0.30%)    
Research and experimentation tax credits $ (1.4) (1.8) (1.5)
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent (2.60%)    
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount $ (1.7)    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Percent 5.10%    
Valuation allowance   (4.2) 14.4
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 0.2 (1.0) (1.2)
Effective Income Tax Rate Reconciliation, Percent 20.50%    
Tax contingencies $ (0.2) (0.7) (0.2)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 0.30%    
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount   1.0 0.0
Effective Income Tax Rate Reconciliation, Statutory Loss Net of Recapture   (1.5) 0.0
Effective Income Tax Reconciliation, Subpart F Income   4.4 0.0
Foreign taxes   (2.4) 0.0
Other, principally non-tax deductible items   0.6 (1.5)
Stock-based compensation $ 3.2 3.5 3.0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount $ 0.8    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Foreign Currency Loss (Income) Loss, Percent 2.00%    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Foreign Currency Loss (Income) Loss $ 1.3    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amortization, Percent 2.60%    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amortization, Amount $ 1.7    
Effective Income Tax Reconciliation, Intellectual Property Transfer Impact   0.0 26.6
Other, principally non-tax deductible items   0.2 1.8
Prior period items   (1.4) (0.2)
Total income tax expense (benefit) 13.1 11.3 (28.3)
Foreign statutory income tax rate   (2.6) 1.3
Valuation allowance $ (45.8) $ (48.7) $ (25.5)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00%    
CAYMAN ISLANDS      
Effective Income Tax Rate Reconciliation [Abstract]      
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent (11.70%)    
Foreign operations tax effect $ (7.5)    
LUXEMBOURG      
Effective Income Tax Rate Reconciliation [Abstract]      
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent (1.70%)    
Foreign operations tax effect $ (1.1)    
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent (5.70%)    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent 14.00%    
Effective Income Tax Rate Reconciliation, Foreign Currency Adjustments, Percent $ 3.0    
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent 1.10%    
Valuation allowance $ (3.7)    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Interest, Amount $ 9.0    
Effective Income Tax Rate Reconciliation, Foreign Currency Loss (Income), Percent 4.70%    
Other, principally non-tax deductible items $ 0.7    
JAPAN      
Effective Income Tax Rate Reconciliation [Abstract]      
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent 1.30%    
Foreign operations tax effect $ 0.8    
Effective Income Tax Rate Reconciliation, Foreign Currency Adjustments, Percent $ (2.1)    
Effective Income Tax Rate Reconciliation, Foreign Currency Loss (Income), Percent (3.30%)    
MALAYSIA      
Effective Income Tax Rate Reconciliation [Abstract]      
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent 6.50%    
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount $ (4.2)    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent 14.00%    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Interest, Amount $ 9.0    
PHILIPPINES      
Effective Income Tax Rate Reconciliation [Abstract]      
Effective Income Tax Rate Reconciliation, Tax Incentives, Percent (1.60%)    
Effective Income Tax Rate Reconciliation, Tax Incentives, Amount $ (1.0)    
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent 0.30%    
Other, principally non-tax deductible items $ 0.2    
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance [Line Items]      
Deferred Income Taxes and Other Assets, Noncurrent $ 82.4 $ 91.7  
Deferred Tax Assets, Goodwill and Intangible Assets 31.0 31.9  
Deferred Tax Assets, Undistributed Foreign Earnings (1.2) 1.6  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount 2.9    
Deferred Tax Liabilities, Undistributed Foreign Earnings (284.4) (256.1)  
Deferred tax assets:      
Accrued compensation, principally post-retirement, and other employee benefits 11.3 10.6  
Accrued expenses 3.1 7.6  
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities (0.1) (0.1)  
Net operating loss and other carryforwards 356.5 336.1  
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes 12.6 10.6  
Plant and equipment, principally due to differences in depreciation 0.4 1.0  
Total gross deferred tax assets 413.6 399.5  
Valuation allowance (45.8) (48.7) $ (25.5)
Total deferred tax assets 367.8 350.8  
Deferred tax liabilities:      
Other liabilities (2.1) (4.1)  
Total gross deferred tax liabilities (286.5) (260.2)  
Deferred Tax Liabilities, Net, Classification [Abstract] (Deprecated 2022)      
Net deferred tax asset 81.3 90.6  
Deferred Income Tax Liabilities, Net $ (1.1) $ (1.1)  
v3.25.4
Income Taxes - Net Operating Loss and Tax Credit Carryforwards (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Operating Loss Carryforwards [Line Items]  
Document Fiscal Year Focus 2025
Net Operating Loss Carryforwards [Abstract]  
Operating Loss Carryforwards, Subject to Expiration in 5-10 years $ 3.3
Income Tax Credits [Abstract]  
Undistributed earnings of foreign subsidiaries 1,500.0
Undistributed Earnings of Foreign Subsidiaries, not Permanently Reivested 300.0
Undistributed Earnings of Foreign Subsidiaries, Permanently Reivested 1,200.0
Capital Loss Carryforwards, Not Subject to Expiration 0.1
State and Local Jurisdiction  
Net Operating Loss Carryforwards [Abstract]  
Operating loss carryforwards, subject to expiration 3.0
Foreign Tax Jurisdiction  
Net Operating Loss Carryforwards [Abstract]  
Operating loss carryforwards 311.1
Operating Loss Carryforwards, Subject to Expiration in 10-20 years 307.0
Operating Loss Carryforwards, Not Subject to Expiration 0.6
Income Tax Credits [Abstract]  
Operating Loss Carryforwards, Subject to Expiration in up to 5 years 0.1
Domestic Tax Jurisdiction  
Net Operating Loss Carryforwards [Abstract]  
Operating loss carryforwards 2.4
Income Tax Credits [Abstract]  
Operating Loss Carryforwards, Subject to Expiration in up to 5 years 0.0
Research Tax Credit Carryforward  
Income Tax Credits [Abstract]  
Tax credit carryforward amount 22.3
Foreign Tax Credit Carryforward  
Income Tax Credits [Abstract]  
Tax credit carryforward amount 2.3
State Tax Credit Carryforward  
Income Tax Credits [Abstract]  
Tax credit carryforward amount 15.2
Tax Year 2022 Through Tax Year 2036 | State Tax Credit Carryforward  
Income Tax Credits [Abstract]  
Tax credit carryforward amount 1.6
After Tax Year 2036 | State Tax Credit Carryforward  
Income Tax Credits [Abstract]  
Tax credit carryforward amount $ 13.6
v3.25.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Total accrued liabilities $ 0.6 $ 0.3 $ 0.0
Potential benefit on the effective tax rate 1.5    
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits beginning balance 7.9 8.0 8.1
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions     (0.3)
Settlements 0.1   0.2
Reductions as a result of a lapse in statute of limitations (0.4) (0.6)  
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation   (0.1)  
Unrecognized tax benefits ending balance 8.1 7.9 $ 8.0
Additions for tax positions of prior years $ 0.7 $ 0.6  
v3.25.4
Equity Incentive Program - Share Based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 18, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Document Fiscal Year Focus   2025    
Pre-tax compensation expense   $ 28.4 $ 22.2 $ 22.8
Tax benefit   4.1 3.0 2.8
Total stock-based compensation expense, net of tax   $ 24.3 19.2 20.0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant   11,400,000    
Disposal Group, Including Discontinued Operation, Share-Based Payment Arrangement, Expense   $ 0.0 0.6 6.2
Selling and Administrative Expenses        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Pre-tax compensation expense   23.6 18.3 19.3
Research and Development Expense        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Pre-tax compensation expense   3.3 2.4 1.9
Cost of Sales        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Pre-tax compensation expense   1.5 $ 1.5 $ 1.6
Share-based Payment Arrangement, Option [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount   0.0    
Performance Shares [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount   $ 8.5    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period   221,616    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 81,788 455,018    
SSARs, aggregate intrinsic value, outstanding $ 1.5      
Weighted average period for compensation expense to be recognized   1 year 2 months 12 days    
Performance Shares [Member] | 2019        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   261,770    
v3.25.4
Equity Incentive Program - Stock Options and SSARs (Details) - Stock Options
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Stock Options, Number of Shares (in share):  
Beginning balance | shares 1,161,337
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | shares 598,909
Expired | shares (148,769)
Ending balance | shares 413,659
Exercisable | shares 413,659
Stock Options, Weighted Average Exercise Price (in dollars per share):  
Beginning balance | $ / shares $ 17.59
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares 16.94
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ / shares 18.54
Ending balance | $ / shares 18.20
Exercisable | $ / shares $ 18.20
SARS and Options, Additional Disclosures  
Options, aggregate intrinsic value, outstanding | $ $ 1.3
Options, aggregate intrinsic value, exercisable | $ $ 1.3
Options, weighted average remaining contractual term, outstanding 1 year 7 months 6 days
Options, weighted average remaining contractual term, exercisable 1 year 7 months 6 days
Unrecognized compensation expense | $ $ 0.0
Award expiration period 7 years
v3.25.4
Equity Incentive Program - RSUs (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Stock Options  
Weighted Average Grant Date Fair Value (in dollars per share):  
Unrecognized compensation expense | $ $ 0.0
Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Fair value of SSARs that are exercisable | $ $ 15.4
Number of Shares (in shares):  
Beginning balance | shares 1,819,308
Granted | shares 1,057,649
Vested (1) | shares (856,091)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares (109,340)
Ending balance | shares 1,911,526
Weighted Average Grant Date Fair Value (in dollars per share):  
Beginning balance | $ / shares $ 17.79
Granted | $ / shares 18.10
Vested (1) | $ / shares 18.26
Forfeited | $ / shares 17.54
Ending balance | $ / shares $ 17.76
Unrecognized compensation expense | $ $ 16.7
Weighted average period for compensation expense to be recognized 1 year 4 months 24 days
v3.25.4
Equity Incentive Program - Additional Information (Details)
shares in Millions
 12 Months Ended
Dec. 31, 2025
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized 23.4
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 11.4
Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award expiration period 7 years
v3.25.4
Equity Incentive Program Equity Incentive Program - Other Information Regarding SSARs and Stock Options (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Document Fiscal Year Focus 2025    
Proceeds from Stock Options Exercised $ (6.7) $ (5.8) $ (1.6)
Share-based Payment Arrangement, Exercise of Option, Tax Benefit 0.0 0.0 0.6
Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Proceeds from Stock Options Exercised (6.7) (5.8) (1.6)
Aggregate intrinsic value of stock options exercised $ 2.9 $ 2.3 $ 2.9
v3.25.4
Equity Incentive Program Equity Incentive Program - PSUs (Details) - Performance Shares [Member]
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Feb. 18, 2025
shares
Mar. 31, 2025
USD ($)
Mar. 31, 2025
numberOfGrantees
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number       1,076,268 842,866
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 81,788     455,018  
Vested (1)       (221,616)  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ / shares       $ 25.36 $ 27.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares       24.08  
Vested (1) | $ / shares       $ 29.92  
Unrecognized compensation expense | $       $ 8.5  
Weighted average period for compensation expense to be recognized       1 year 2 months 12 days  
Fair value of SSARs that are exercisable | $       $ 4.1  
Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Incremental Increase of Initial Grant Value, Percentage 0.00%     0.00%  
Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Incremental Increase of Initial Grant Value, Percentage 400.00%     225.00%  
2019          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period       261,770  
2020          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vested (1)       (120,677)  
Share-based Payment Arrangement, Plan Modification, Number of Grantees Affected   4.7 8    
v3.25.4
Employee Benefit Plans - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
pension_plan
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan expense $ 6.5 $ 5.5 $ 5.2
Document Fiscal Year Focus 2025    
Number of defined benefit pension plans | pension_plan 3    
Actuarial losses arising during period, net of tax $ (0.4) 1.2 0.4
Foreign Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Amortization of recognized actuarial loss $ 0.6 $ 0.6 $ 0.5
v3.25.4
Employee Benefit Plans - Change in Benefit Obligation and Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Document Fiscal Year Focus 2025    
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Defined Benefit Plan, Benefit Obligation, Divestiture $ 0.0 $ (1.3)  
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Defined Benefit Plan, Plan Assets, Divestiture 0.0 (1.5)  
Accumulated Other Comprehensive Loss (Earnings) [Abstract]      
Total accumulated other comprehensive loss, net of tax (15.9) (16.9) $ (16.2)
Foreign Plan [Member]      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 36.9 43.5  
Service cost 0.2 0.2 0.2
Interest cost 2.1 1.9 2.0
Defined Benefit Plan, Benefit Obligation, Benefits Paid 2.4 2.4  
Actuarial loss gain (0.5) 3.4  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement 0.0 (0.9)  
Currency translation and other 2.3 (0.7)  
Benefit obligation at end of year 38.6 36.9 43.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 37.0 43.1  
Actual return on plan assets 2.2 (1.1)  
Company contributions 1.0 0.9  
Defined Benefit Plan, Plan Assets, Benefits Paid 2.4 2.4  
Defined Benefit Plan, Plan Assets, Payment for Settlement 0.0 (0.9)  
Currency translation and other 2.3 (1.1)  
Fair value of plan assets at end of year 40.1 37.0 $ 43.1
Funded status 1.5 0.1  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Other assets and deferred charges 4.2 3.8  
Other liabilities (2.7) (3.7)  
Funded status 1.5 0.1  
Accumulated Other Comprehensive Loss (Earnings) [Abstract]      
Net actuarial losses 17.4 18.6  
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax 1.1 1.2  
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), Tax (2.6) (2.7)  
Total accumulated other comprehensive loss, net of tax 15.9 17.1  
Accumulated benefit obligation $ 37.9 $ 36.4  
v3.25.4
Employee Benefit Plans - Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Document Fiscal Year Focus 2025  
Foreign Plan [Member]    
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]    
Projected benefit obligation $ 24.0 $ 23.3
Accumulated benefit obligation 23.6 22.9
Fair value of plan assets 21.2 19.5
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets $ 21.2 $ 19.5
v3.25.4
Employee Benefit Plans - Components of the Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Document Fiscal Year Focus 2025    
Foreign Plan [Member]      
Components of Net Periodic Benefit Cost [Abstract]      
Service cost $ 0.2 $ 0.2 $ 0.2
Interest cost 2.1 1.9 2.0
Expected return on plan assets (2.2) (2.4) (2.1)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) 0.1 0.0 0.1
Amortization of recognized actuarial loss 0.6 0.6 0.5
Defined Benefit Plan, Other Cost (Credit) 0.0 0.1 0.0
Total net periodic benefit cost $ 0.8 $ 0.4 $ 0.7
v3.25.4
Employee Benefit Plans - Actuarial Assumptions (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Document Fiscal Year Focus 2025    
Foreign Plan [Member]      
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Discount rate 5.52% 5.49%  
Average wage increase 4.04% 4.42%  
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Discount rate 5.49% 4.47% 4.71%
Average wage increase 4.42% 4.17% 4.30%
Expected return on plan assets 5.65% 5.68% 5.00%
Foreign Plan [Member] | Philippines      
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Discount rate 6.20% 6.00%  
Average wage increase 5.50% 5.50%  
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Discount rate 6.00% 6.20% 7.50%
Average wage increase 5.50% 4.00% 4.00%
Expected return on plan assets 6.75% 7.25% 7.50%
Foreign Plan [Member] | Taiwan      
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Discount rate   1.50%  
Average wage increase   4.00%  
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Discount rate   1.50% 1.75%
Average wage increase   4.00% 4.00%
Expected return on plan assets   4.00% 1.75%
Foreign Plan [Member] | United Kingdom      
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Discount rate 5.50% 5.48%  
Average wage increase 3.95% 4.35%  
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Discount rate 5.48% 4.60% 4.84%
Average wage increase 4.35% 4.20% 4.35%
Expected return on plan assets 5.64% 5.77% 5.17%
v3.25.4
Employee Benefit Plans - Fair Value of Plan Assets by Category (Details) - Foreign Plan [Member] - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 4.04% 4.42%  
Fair value of plan assets $ 40.1 $ 37.0 $ 43.1
Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 9.3 8.6  
Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 30.8 28.4  
Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Fixed income investments      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 20.5 19.1  
Fixed income investments | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 3.2 3.1  
Fixed income investments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 17.3 16.0  
Fixed income investments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Common stock funds      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 7.3 6.7  
Common stock funds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Common stock funds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 7.3 6.7  
Common stock funds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Real Estate Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 2.7 2.5  
Real Estate Funds [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Real Estate Funds [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 2.7 2.5  
Real Estate Funds [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Cash and equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 1.3 1.3  
Cash and equivalents | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 1.3 1.3  
Cash and equivalents | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Cash and equivalents | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 0.0 0.0  
Other      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 8.3 7.4  
Other | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 4.8 4.2  
Other | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets 3.5 3.2  
Other | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets $ 0.0 $ 0.0  
v3.25.4
Employee Benefit Plans - Future Estimates (Details) - Foreign Plan [Member]
$ in Millions
Dec. 31, 2025
USD ($)
Expected Future Benefit Payments [Abstract]  
2023 $ 2.5
2024 2.4
2025 2.6
2026 2.6
2027 2.5
2028 - 2032 13.7
Estimated Future Employer Contributions [Abstract]  
Estimated 2023 employer contribution $ 0.9
v3.25.4
Employee Benefit Plans - Supplemental Retirement Plan (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax $ 0.4 $ (1.2) $ (0.4)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax (15.9) (16.9) $ (16.2)
Foreign Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax $ 15.9 $ 17.1  
v3.25.4
Other Comprehensive (Loss) Earnings - Amounts Recognized in OCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Foreign currency translation:      
Foreign currency translation, before tax $ 10.7 $ (6.2) $ (6.1)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Parent 0.0 0.0 0.0
Foreign currency translation, net of tax 10.7 (6.2) (6.1)
Employee benefit plans:      
Employee benefit plans, before Tax 1.1 (0.6) (0.1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent (0.1) (0.1) 0.2
Net change in employee benefit plans 1.0 (0.7) 0.1
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax 2.2 (1.8) (2.3)
Changes in fair value of cash flow hedges:      
Change in fair value of cash flow hedges, tax (0.5) 0.4 0.6
Total cash flow hedges 1.7 (1.4) (1.7)
Total:      
Other Comprehensive Income (Loss), before tax 14.0 (8.6) (8.5)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total 0.6 (0.3) (0.8)
Other comprehensive earnings (loss), net of tax $ 13.4 $ (8.3) $ (7.7)
v3.25.4
Other Comprehensive (Loss) Earnings - Components of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Components of AOCI [Abstract]      
Beginning balance $ (138.1) $ (129.8)  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 13.4 (8.3) $ (7.7)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax (108.4) (119.1) (112.9)
Ending balance (124.7) (138.1) (129.8)
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax (0.4) (2.1) (0.7)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax (15.9) (16.9) $ (16.2)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Components of AOCI [Abstract]      
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 1.7 (1.4)  
Employee benefit plans      
Components of AOCI [Abstract]      
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 1.0 (0.7)  
Cumulative foreign currency translation adjustments      
Components of AOCI [Abstract]      
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent $ 10.7 $ (6.2)  
v3.25.4
Other Comprehensive (Loss) Earnings - Changes in Components of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension and Postretirement Benefit Plans [Abstract]      
Amortization or settlement of actuarial losses and prior service costs $ 0.7 $ 0.6 $ 0.6
Tax (0.1) (0.1) (0.1)
Net of tax 0.6 0.5 0.5
Cash Flow Hedges [Abstract]      
Net (gains) losses reclassified into earnings (0.2) 1.5 2.7
Tax 0.1 (0.4) (0.5)
Net of tax $ (0.1) $ 1.1 $ 2.2
v3.25.4
Segment Information - Information on Reportable Segments (Details)
$ in Millions
 12 Months Ended
Dec. 27, 2024
USD ($)
Dec. 31, 2025
USD ($)
numberOfGrantees
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting Information [Line Items]        
Document Fiscal Year Focus   2025    
Reconciliation from Segment Totals to Consolidated [Abstract]        
Revenues   $ 593.2 $ 553.5 $ 456.8
Reconciliation of Net Earnings from Segments [Abstract]        
Interest expense, net   9.3 16.3 5.4
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest   64.0 34.7 37.3
Provision for (benefit from) income taxes   13.1 11.3 (28.3)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent   50.9 23.4 65.6
Reconciliation of Depreciation and Amortization [Abstract]        
Depreciation and amortization   36.3 50.3 46.5
Reconciliation of Research and Development Expense [Abstract]        
Research and development expenses   (40.2) (39.5) (32.4)
Pre-tax compensation expense   28.4 22.2 22.8
Amortization Expense   16.2 17.0 7.5
Restructuring Charges   3.8 3.4 3.3
Production Transfer Costs   1.7 4.2 0.4
Acquisition-Related costs   0.8 8.4 9.4
Payment to Finance CMM Sale Seller Loan $ 6.4 0.0 6.4 0.0
Receivables, Fair Value Disclosure   5.9 6.4  
Sublease, Operating Lease, Right-of-Use Asset   5.2 0.3  
Total impairment charges   $ 3.6    
Number of Reportable Segments | numberOfGrantees   2    
Investment Income, Dividend   $ 6.2 0.0 0.0
Transition services credit   2.0    
Continuing Operations        
Reconciliation of Depreciation and Amortization [Abstract]        
Depreciation and amortization   36.3 37.6 26.2
Reconciliation of Capital Expenditures [Abstract]        
Capital expenditures   32.1 11.9 12.2
Selling and Administrative Expenses        
Reconciliation of Research and Development Expense [Abstract]        
Pre-tax compensation expense   23.6 18.3 19.3
Amortization Expense   16.2 17.0 7.5
Operating segments        
Reconciliation from Segment Totals to Consolidated [Abstract]        
Revenues   593.2 553.5 456.8
Adjusted Cost of Goods Sold   329.2 306.5 247.5
Adjusted Research and Development Expenses   34.9 34.0 29.3
Adjusted Selling and Administrative Expenses   63.2 60.5 49.4
Segment Reporting, Other Segment Item, Amount   0.2 0.2 0.3
Segment Adjusted Earnings Before Interest and Income Taxes   165.7 152.3 130.3
Reconciliation of Research and Development Expense [Abstract]        
Restructuring Charges   3.8    
Other Expenses   0.5 1.7 2.1
Operating segments | Precision Devices        
Reconciliation from Segment Totals to Consolidated [Abstract]        
Revenues   328.9 300.0 221.4
Adjusted Cost of Goods Sold   200.0 186.6 132.2
Adjusted Research and Development Expenses   16.3 16.0 12.3
Adjusted Selling and Administrative Expenses   48.9 47.2 36.1
Segment Reporting, Other Segment Item, Amount   0.4 0.2 0.3
Segment Adjusted Earnings Before Interest and Income Taxes   63.3 50.0 40.5
Reconciliation of Depreciation and Amortization [Abstract]        
Depreciation and amortization   26.1 27.5 15.8
Reconciliation of Capital Expenditures [Abstract]        
Capital expenditures   24.9 6.2 7.6
Reconciliation of Research and Development Expense [Abstract]        
Restructuring Charges   2.2 3.4 2.5
Operating segments | MedTech & Specialty Audio        
Reconciliation from Segment Totals to Consolidated [Abstract]        
Revenues   264.3 253.5 235.4
Adjusted Cost of Goods Sold   129.2 119.9 115.3
Adjusted Research and Development Expenses   18.6 18.0 17.0
Adjusted Selling and Administrative Expenses   14.3 13.3 13.3
Segment Reporting, Other Segment Item, Amount   (0.2) 0.0 0.0
Segment Adjusted Earnings Before Interest and Income Taxes   102.4 102.3 89.8
Reconciliation of Depreciation and Amortization [Abstract]        
Depreciation and amortization   8.5 8.3 8.2
Reconciliation of Capital Expenditures [Abstract]        
Capital expenditures   6.2 5.3 4.6
Reconciliation of Research and Development Expense [Abstract]        
Restructuring Charges   0.4 0.0 0.0
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]        
Reconciliation of Net Earnings from Segments [Abstract]        
Corporate Expense and Other   45.6 44.4 42.1
Reconciliation of Depreciation and Amortization [Abstract]        
Depreciation and amortization   1.7 1.8 2.2
Reconciliation of Capital Expenditures [Abstract]        
Capital expenditures   1.0 0.4 0.0
Reconciliation of Research and Development Expense [Abstract]        
Restructuring Charges   $ 1.2 $ 0.0 $ 0.8
v3.25.4
Segment Information - Reportable Segments Adjusted Working Capital and Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Document Fiscal Year Focus 2025    
Total assets $ 1,051.1 $ 1,118.2 $ 1,462.8
Consumer MEMS Microphones | Discontinued Operations, Disposed of by Sale [Member]      
Segment Reporting Information [Line Items]      
Disposal Group, Including Discontinued Operation, Assets 0.0 0.0 435.0
Operating segments | Precision Devices      
Segment Reporting Information [Line Items]      
Total assets 554.7 619.9 628.3
Operating segments | MedTech & Specialty Audio      
Segment Reporting Information [Line Items]      
Total assets 399.7 410.6 391.7
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]      
Segment Reporting Information [Line Items]      
Total assets $ 96.7 $ 87.7 $ 7.8
v3.25.4
Segment Information - Revenue by Geographic Location (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]      
Document Fiscal Year Focus 2025    
Revenues $ 593.2 $ 553.5 $ 456.8
Long-Lived Assets 159.3 138.7  
Asia      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 226.1 187.1 176.6
Long-Lived Assets 62.2 52.9  
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 248.8 236.0 160.8
Long-Lived Assets 93.9 81.3  
Europe      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 95.4 103.2 101.3
Long-Lived Assets 1.0 2.8  
Other Americas      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 12.0 12.1 6.8
Long-Lived Assets 2.2 1.7  
Other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 10.9 15.1 $ 11.3
Long-Lived Assets $ 0.0 $ 0.0  
v3.25.4
Segment Information Segment Information - Concentration of Credit Risk (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Concentration Risk [Line Items]      
Document Fiscal Year Focus 2025    
Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Customer A      
Concentration Risk [Line Items]      
Concentration Risk, Percentage 11.00% 14.00% 16.00%
Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Customer B      
Concentration Risk [Line Items]      
Concentration Risk, Percentage 10.00%
v3.25.4
Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]      
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $ 50.9 $ 23.4 $ 65.6
Earnings (loss) from discontinued operations, net (6.7) (261.2) 6.8
Net earnings (loss) $ 44.2 $ (237.8) $ 72.4
Basic earnings (loss) per common share:      
Income (Loss) from Continuing Operations, Per Basic Share $ 0.59 $ 0.26 $ 0.72
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share (0.08) (2.93) 0.08
Earnings Per Share, Basic $ 0.51 $ (2.67) $ 0.80
Basic weighted average shares outstanding (in shares) [1] 86,400,000 88,900,000 90,900,000
Diluted earnings (loss) per common share:      
Income (Loss) from Continuing Operations, Per Diluted Share $ 0.58 $ 0.26 $ 0.72
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share (0.08) (2.90) 0.07
Earnings Per Share, Diluted $ 0.50 $ (2.64) $ 0.79
Dilutive weighted average shares outstanding (in shares) [1] 88,000,000.0 90,100,000 91,600,000
Weighted average number of anti-dilutive shares excluded from the calculation (in shares) 800,000 700,000 1,900,000
[1]
 Years Ended December 31,
 202520242023
Revenues$593.2 $553.5 $456.8 
Cost of goods sold332.5 316.8 251.9 
Impairment charges3.6 — — 
Restructuring charges - cost of goods sold0.8 1.9 1.1 
Gross profit256.3 234.8 203.8 
Research and development expenses40.2 39.5 32.4 
Selling and administrative expenses142.8 142.0 125.8 
Restructuring charges3.0 1.5 2.2 
Operating expenses186.0 183.0 160.4 
Operating earnings70.3 51.8 43.4 
Interest expense, net9.3 16.3 5.4 
Dividend income(6.2)— — 
Other expense, net3.2 0.8 0.7 
Earnings before income taxes and discontinued operations64.0 34.7 37.3 
Provision for (benefit from) income taxes13.1 11.3 (28.3)
Earnings from continuing operations50.9 23.4 65.6 
(Loss) earnings from discontinued operations, net(6.7)(261.2)6.8 
Net earnings (loss)$44.2 $(237.8)$72.4 
Earnings per share from continuing operations:
Basic$0.59 $0.26 $0.72 
Diluted$0.58 $0.26 $0.72 
(Loss) earnings per share from discontinued operations:
Basic$(0.08)$(2.93)$0.08 
Diluted$(0.08)$(2.90)$0.07 
Net earnings (loss) per share:
Basic$0.51 $(2.67)$0.80 
Diluted$0.50 $(2.64)$0.79 
Weighted-average common shares outstanding:
Basic86.4 88.9 90.9 
Diluted88.0 90.1 91.6 
v3.25.4
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Document Fiscal Year Focus 2025    
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation allowance $ 45.8 $ 48.7 $ 25.5
Allowance for doubtful accounts receivable 0.0 0.1 0.2
Allowance for Doubtful Accounts      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease) 0.0    
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Year 0.1 0.2 0.2
Charged to Cost and Expense   (0.1) (0.1)
Accounts Written off / Reductions (0.1) 0.0 (0.1)
Balance at End of Year   0.1 0.2
Deferred Tax Valuation Allowance      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Year 48.7 25.5 39.7
Additions 3.4 23.2 0.9
Accounts Written off / Reductions $ (6.3) 0.0 (15.1)
Balance at End of Year   $ 48.7 $ 25.5