v3.25.3

Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Revenues:

Total revenues

$ 231.1

$ 293.8

$ 594.2

$ 848.9

Operating expenses:

Cost of product and services sales, net

^[1]

85.9

122.6

241.3

563.3

Research and development

13.5

13.8

41.1

61.6

Selling, general and administrative

38.9

76.6

135.0

247.2

Amortization of intangible assets

16.3

48.8

Impairment of long-lived assets

0.0

27.2

Total operating expenses

154.6

229.3

466.2

948.1

Income (loss) from operations

76.5

64.5

128.0

(99.2)

Other income (expense):

Interest expense

(15.2)

(8.3)

(44.6)

(56.2)

Gain (loss) on sale of business and assets held for sale

0.0

64.3

(12.2)

24.3

Other, net

(3.7)

21.9

62.3

15.8

Total other income (expense), net

(18.9)

77.9

5.5

(16.1)

Income (loss) before income taxes

57.6

142.4

133.5

(115.3)

Income tax provision

6.4

27.6

26.3

44.0

Net income (loss)

$ 51.2

$ 114.8

$ 107.2

$ (159.3)

Earnings (loss) per common share

Basic (in dollars per share)

$ 0.96

$ 2.16

$ 1.99

$ (3.03)

Diluted (in dollars per share)

$ 0.91

$ 2.06

$ 1.89

$ (3.03)

Weighted average shares outstanding

Basic (in shares)

53.2

53.1

53.9

52.6

Diluted (in shares)

56.5

55.6

56.7

52.6

Product and services sales, net

Revenues:

Total revenues

$ 222.0

$ 283.8

$ 561.4

$ 824.3

Contracts and grants

Revenues:

Total revenues

$ 9.1

$ 10.0

$ 32.8

$ 24.6

[1]	(1) Exclusive of intangible asset amortization

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-18

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-12

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

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