Company: NPO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001164863-25-000009
Chunk: 164

Company: Enpro Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1A
Chunk 164
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 life cycle.The accounting policies of the reportable segments are the same as those for Enpro.In the first quarter of 2024, we refined our definition of Adjusted Segment EBITDA and corporate expenses to include certain other income or expenses previously reported in other expense, net. These items were primarily comprised of bank fees and certain foreign exchange transaction gains and losses. As a result of this change, for the year ended December 31, 2023, we recast our results to increase corporate expenses by $1.6 million. For the year ended December 31, 2022, we decreased Sealing Technologies Adjusted Segment EBITDA by $1.3 million and increased Advanced Surface Technologies Adjusted Segment EBITDA by $4.7 million in addition to increasing corporate expenses by $1.7 million.Non-controlling interest compensation allocation represents compensation expense associated with a portion of the rollover equity from the acquisitions of LeanTeq and Alluxa being subject to reduction for certain types of employment terminations of the sellers. This expense was recorded in selling, general, and administrative expenses on our Consolidated Statements of Operations and is directly related to the terms of the acquisitions. In the fourth quarter of 2022, Enpro acquired all of the LeanTeq non-controlling interests and all of the Alluxa non-controlling interests in the first quarter of 2024.Segment operating results and other financial data for the years ended December 31, 2024, 2023, and 2022, with 2023 and 2022 recast to reflect the revised segment reporting requirements, were as follows: 

87

Year Ended December 31, 2024 (in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotalSales from external customers$687.2 $361.5 $1,048.7 Intersegment sales— 0.7 0.7 687.2 362.2 1,049.4 Reconciliation of salesElimination of intersegment sales(0.7)Total consolidated sales1,048.7 Cost of sales(356.3)(248.0)Selling, General, and Administrative(145.6)(105.0)Other Operating1(2.4)(3.5)Adjusting Items:Acquisition expenses4.3 — Amortization of fair value adjustment to acquisition date inventory1.7 — Restructuring and impairment expense2.4 3