SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

(11) 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, and Legal.

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 and industrial markets in North America and Latin America. This segment’s principal product and service offerings include:

•Products include AC and DC power management, thermal management, low/medium voltage switchgear, busway, integrated modular solutions, racks, rack power, rack power distribution, rack thermal systems, configurable integrated solutions, and hardware for managing I.T. equipment.

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

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

Reportable Business Segments

Sales	Three months ended March 31, 2024		Three months ended March 31, 2023
Americas	$	933.3	$	872.0
Asia Pacific	360.2		336.2
Europe, Middle East & Africa	471.5		372.7
	1,765.0		1,580.9
Eliminations	(125.9)		(59.8)
Total	$	1,639.1	$	1,521.1

Intersegment sales (1)	Three months ended March 31, 2024		Three months ended March 31, 2023
Americas	$	8.3	$	9.7
Asia Pacific	27.9		23.2
Europe, Middle East & Africa	89.7		26.9
Total	$	125.9	$	59.8

(1)Intersegment selling prices approximate market prices.

Operating profit (loss)	Three months ended March 31, 2024		Three months ended March 31, 2023
Americas	$	187.8	$	145.8
Asia Pacific	30.4		16.6
Europe, Middle East & Africa	70.3		46.1
Total reportable segments	288.5		208.5
Foreign currency gain (loss)	(3.2)		(3.1)
Corporate and other	(36.7)		(29.9)
Total corporate, other and eliminations	(39.9)		(33.0)
Amortization of intangibles	(46.0)		(45.2)
Operating profit (loss)	$	202.6	$	130.3