SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

(13) SEGMENT INFORMATION

Operating profit (loss) is the primary income measure the Company uses to assess segment performance and make operating decisions. Segment performance is assessed exclusive of Corporate and other costs, foreign currency gain (loss), and amortization of intangibles. Corporate and other costs primarily include stock-based compensation, other incentive compensation, change in fair value of warrant liabilities, asset impairments, and costs that support centralized global functions including Finance, Treasury, Risk Management, Strategy & Marketing, IT, Legal, and global product platform development and offering management.

The Company determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the chief operating decision maker, which includes determining resource allocation methodologies used for reportable segments.

Summarized information about the Company’s results of operations by reportable segment and product and service offering follows:

Americas includes products and services sold for applications within the data center, communication networks and commercial/industrial markets in North America and Latin America. This segment’s principal product and service offerings include:

•Critical infrastructure & solutions includes AC and DC power management, thermal management, and modular hyperscale type data center sites.

•Integrated rack solutions includes racks, rack power, rack power distribution, rack thermal systems, configurable integrated solutions, and hardware for managing IT equipment.

•Services & spares includes preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and digital critical infrastructure software.

Asia Pacific includes products and services sold for applications within the data center, communication networks and commercial/industrial markets throughout Greater China, Australia & New Zealand, South East Asia, and India. Products and services offered are similar to the Americas segment.

Europe, Middle East & Africa includes products and services sold for applications within the data center, communication networks and commercial/industrial markets in Europe, Middle East & Africa. Products and services offered are similar to the Americas segment.

Reportable Segments

Sales	Three months ended September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021
Americas	$	722.5	$	542.1	$	1,925.8	$	1,616.2
Asia Pacific	460.3		417.2		1,250.7		1,211.1
Europe, Middle East & Africa	381.1		306.4		1,096.7		867.0
	1,563.9		1,265.7		4,273.2		3,694.3
Eliminations	(82.8)		(36.8)		(236.3)		(106.7)
Total	$	1,481.1	$	1,228.9	$	4,036.9	$	3,587.6

Intersegment sales (1)	Three months ended September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021
Americas	$	9.9	$	4.9	$	30.9	$	12.6
Asia Pacific	24.2		22.6		74.6		61.2
Europe, Middle East & Africa	48.7		9.3		130.8		32.9
Total	$	82.8	$	36.8	$	236.3	$	106.7

(1)Intersegment selling prices approximate market prices.

Operating profit (loss)	Three months ended September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021
Americas	$	115.2	$	113.4	$	255.6	$	368.4
Asia Pacific	83.3		69.4		193.3		185.3
Europe, Middle East & Africa	57.4		59.0		152.4		154.8
Total reportable segments	255.9		241.8		601.3		708.5
Foreign currency gain (loss)	(0.2)		(4.9)		(1.8)		(2.1)
Corporate and other	(121.5)		(123.5)		(370.8)		(347.3)
Total corporate, other and eliminations	(121.7)		(128.4)		(372.6)		(349.4)
Amortization of intangibles	(54.2)		(31.6)		(167.7)		(95.3)
Operating profit (loss)	$	80.0	$	81.8	$	61.0	$	263.8