MINERALS TECHNOLOGIES INCMTX
MINERALS TECHNOLOGIES INC Segments Disclosure
Note 21. Segment and Related Information
The Company determines its operating segments based on the discrete financial information that is regularly evaluated by its chief operating decision maker, our Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The Company’s operating segments are strategic business units that offer different products and serve different markets. They are managed separately and require different technology and marketing strategies.
The Company has two reportable segments: the Consumer & Specialties segment and the Engineered Solutions segment.
The Consumer & Specialties segment provides technologically enhanced products to consumer-driven end markets, including mineral-to-market household products, as well as specialty additives that become functional components in a variety of consumer and industrial goods. The two product lines in this segment are Household & Personal Care, which delivers minerals-to-market products to a variety of consumer-oriented markets, including pet care, personal care, fabric care, edible oil and renewable fuel purification, animal health, and agricultural, and Specialty Additives, which delivers mineral additives to a variety of consumer and industrial end markets including paper and packaging, food and pharmaceutical, sealants and adhesives, paints and coatings, and plastics.
The Engineered Solutions segment provides advanced process technologies and solutions that are designed to improve our customers' manufacturing processes and projects. The two product lines in this segment are High-Temperature Technologies, which delivers mineral-based blends, technologies, and systems to the foundry, steel, glass, aluminum and other high-temperature processing industries, and Environmental & Infrastructure, which provides environmental, construction, and remediation solutions including geosynthetic clay lining systems, vapor intrusion mitigation products, sub-surface waterproofing systems, green roofs, wastewater remediation, drinking water purification technologies, and drilling products for both the construction and infrastructure markets as well as the oil and gas exploration and production industries.
The accounting policies of the segments are the
same as those described in the summary of significant accounting
principles. The Company evaluates performance based on the operating income of the respective business units. The costs deducted to arrive at operating profit do not include several items, such as net interest or income tax expense. Depreciation expense related to corporate assets is allocated to the business segments and is included in their income from operations. However, such corporate depreciable assets are not included in the segment assets. Intersegment sales and transfers are not significant.
Segment revenues, expenses, operating income, and a reconciliation of the operating segment totals to the applicable line items on the Consolidated Financial Statements is as follows:
| Year Ended December 31, | ||||||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||
| Consumer & | Engineered | Consumer & | Engineered | |||||||||||||||||||||
| (in millions of dollars) | Specialties | Solutions | Total | Specialties | Solutions | Total | ||||||||||||||||||
| Net sales | $ | 1,097.7 | $ | 974.9 | $ | 2,072.6 | $ | 1,140.2 | $ | 978.3 | $ | 2,118.5 | ||||||||||||
| Cost of goods sold | 875.3 | 679.3 | 1,554.6 | 890.4 | 680.4 | 1,570.8 | ||||||||||||||||||
| Segment production margin | 222.4 | 295.6 | 518.0 | 249.8 | 297.9 | 547.7 | ||||||||||||||||||
| Marketing and administrative expenses | 75.7 | 122.8 | 198.5 | 71.7 | 125.8 | 197.5 | ||||||||||||||||||
| Research and development expenses | 13.1 | 9.8 | 22.9 | 12.6 | 10.4 | 23.0 | ||||||||||||||||||
| Restructuring and other items | 9.6 | 3.0 | 12.6 | - | - | - | ||||||||||||||||||
| Gain on sale of assets, net | - | (9.9 | ) | (9.9 | ) | - | (12.3 | ) | (12.3 | ) | ||||||||||||||
| Segment income from operations | $ | 124.0 | $ | 169.9 | $ | 293.9 | $ | 165.5 | $ | 174.0 | $ | 339.5 | ||||||||||||
| Year Ended December 31, | ||||||||||||
| 2023 | ||||||||||||
| Consumer & | Engineered | |||||||||||
| (in millions of dollars) | Specialties | Solutions | Total | |||||||||
| Net sales | $ | 1,160.2 | $ | 1,009.7 | $ | 2,169.9 | ||||||
| Cost of goods sold | 938.5 | 724.3 | 1,662.8 | |||||||||
| Segment production margin | 221.7 | 285.4 | 507.1 | |||||||||
| Marketing and administrative expenses | 69.2 | 124.7 | 193.9 | |||||||||
| Research and development expenses | 11.5 | 9.7 | 21.2 | |||||||||
| Restructuring and other items | 0.9 | 3.2 | 4.1 | |||||||||
| Impairment of assets | 71.7 | - | 71.7 | |||||||||
| Litigation expenses | 26.8 | - | 26.8 | |||||||||
| Segment income from operations | $ | 41.6 | $ | 147.8 | $ | 189.4 | ||||||
| Year Ended December 31, | ||||||||||||
| (in millions of dollars) | 2025 | 2024 | 2023 | |||||||||
| Segment income from operations | $ | 293.9 | $ | 339.5 | $ | 189.4 | ||||||
| Interest expense, net | (54.5 | ) | (56.4 | ) | (59.2 | ) | ||||||
| Other non-operating deductions, net | (6.9 | ) | (4.7 | ) | (4.9 | ) | ||||||
| Unallocated expenses: | ||||||||||||
| Provision for litigation accrual and credit losses | 215.0 | 30.0 | - | |||||||||
| Restructuring and other items | 2.2 | - | 2.8 | |||||||||
| Acquisition-related expenses | - | - | 0.3 | |||||||||
| Litigation expenses | 19.6 | 11.3 | 2.4 | |||||||||
| Unallocated corporate expenses | 9.7 | 11.7 | 12.1 | |||||||||
| Debt extinguishment expenses | - | (1.8 | ) | - | ||||||||
| Income (loss) before tax and equity in earnings | $ | (14.0 | ) | $ | 223.6 | $ | 107.7 | |||||
Segment information for the years ended December 31, 2025, 2024 and 2023 was as follows:
| Year Ended December 31, | ||||||||||||
| (in millions of dollars) | 2025 | 2024 | 2023 | |||||||||
| Depreciation, Depletion & Amortization | ||||||||||||
| Consumer & Specialties | $ | 43.4 | $ | 47.2 | $ | 47.3 | ||||||
| Engineered Solutions | 47.8 | 47.7 | 47.7 | |||||||||
| Total | $ | 91.2 | $ | 94.9 | $ | 95.0 | ||||||
| Segment Assets | ||||||||||||
| Consumer & Specialties | $ | 1,333.4 | $ | 1,289.4 | $ | 1,244.8 | ||||||
| Engineered Solutions | 2,043.9 | 2,028.0 | 2,028.5 | |||||||||
| Corporate | 91.7 | 76.5 | 73.3 | |||||||||
| Total | $ | 3,469.0 | $ | 3,393.9 | $ | 3,346.6 | ||||||
| Capital Expenditures | ||||||||||||
| Consumer & Specialties | $ | 67.6 | $ | 45.2 | $ | 56.8 | ||||||
| Engineered Solutions | 34.9 | 39.3 | 31.2 | |||||||||
| Corporate | 4.6 | 5.0 | 5.5 | |||||||||
| Total | $ | 107.1 | $ | 89.5 | $ | 93.5 | ||||||
Financial information relating to the Company’s operations by geographic area was as follows:
| Year Ended December 31, | ||||||||||||
| (in millions of dollars) | 2025 | 2024 | 2023 | |||||||||
| Net Sales | ||||||||||||
| United States | $ | 1,075.0 | $ | 1,089.4 | $ | 1,144.0 | ||||||
| Canada/Latin America | 136.9 | 151.2 | 150.2 | |||||||||
| Europe/Africa | 498.5 | 521.1 | 525.5 | |||||||||
| Asia | 362.2 | 356.8 | 350.2 | |||||||||
| Total International | $ | 997.6 | $ | 1,029.1 | $ | 1,025.9 | ||||||
| Consolidated net sales | $ | 2,072.6 | $ | 2,118.5 | $ | 2,169.9 | ||||||
| Long-Lived Assets | ||||||||||||
| United States | $ | 1,845.0 | $ | 1,849.1 | $ | 1,842.0 | ||||||
| Canada/Latin America | 17.0 | 14.6 | 17.7 | |||||||||
| Europe/Africa | 166.5 | 147.3 | 157.0 | |||||||||
| Asia | 121.1 | 110.6 | 114.7 | |||||||||
| Total International | $ | 304.6 | $ | 272.5 | $ | 289.4 | ||||||
| Consolidated long-lived assets | $ | 2,149.6 | $ | 2,121.6 | $ | 2,131.4 | ||||||
Net sales and long-lived assets are attributed to countries and geographic areas based on the location of the legal entity. No individual foreign country represents more than 10% of consolidated net sales or consolidated long-lived assets.
The Company’s net sales by product category are as follows:
| Year Ended December 31, | ||||||||||||
| (in millions of dollars) | 2025 | 2024 | 2023 | |||||||||
| Household & Personal Care | $ | 512.8 | $ | 530.0 | $ | 517.6 | ||||||
| Specialty Additives | 584.9 | 610.2 | 642.6 | |||||||||
| High-Temperature Technologies | 704.7 | 713.2 | 720.9 | |||||||||
| Environmental & Infrastructure | 270.2 | 265.1 | 288.8 | |||||||||
| Total net sales | $ | 2,072.6 | $ | 2,118.5 | $ | 2,169.9 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 16, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 19, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.