Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Segment Information (Tables)

v3.19.1
Note 5 - Segment Information (Tables)
3 Months Ended
Mar. 31, 2019
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Three Months Ended March 31,
(in millions)
 
2019
 
2018
Net Sales, External Customers
 
 
 
 
 
 
 
 
Olin Brass
  $
172.3
 
  $
178.7
 
Chase Brass
   
146.3
 
   
171.6
 
A.J. Oster
   
111.7
 
   
121.5
 
Total net sales, external customers
  $
430.3
 
  $
471.8
 
Intersegment Net Sales
 
 
 
 
 
 
 
 
Olin Brass
  $
36.0
 
  $
21.4
 
Chase Brass
   
-
 
   
-
 
A.J. Oster
   
0.1
 
   
-
 
Total intersegment net sales
  $
36.1
 
  $
21.4
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
Olin Brass
  $
13.9
 
  $
14.0
 
Chase Brass
   
17.0
 
   
18.6
 
A.J. Oster
   
5.7
 
   
5.7
 
Total adjusted EBITDA of operating segments
   
36.6
 
   
38.3
 
Corporate
   
(7.1
)
   
(6.0
)
Depreciation expense
   
(5.6
)
   
(5.1
)
Amortization expense
   
(0.1
)
   
(0.1
)
Interest expense, net
   
(4.0
)
   
(4.3
)
Net income attributable to noncontrolling interest
   
0.1
 
   
0.1
 
Unrealized (loss) gain on derivative contracts (a)
   
3.3
 
   
(2.4
)
Specified legal / professional expenses (b)
   
(1.3
)
   
-
 
Lower of cost or market adjustment to inventory (c)
   
2.8
 
   
0.9
 
Step-up costs from acquisition accounting
   
-
 
   
(0.2
)
Income before provision for income taxes
  $
24.7
 
  $
21.2