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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 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, 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
SalesThree months ended June 30, 2024Three months ended June 30, 2023Six months ended June 30, 2024Six months ended June 30, 2023
Americas$1,126.9 $968.3 $2,060.2 $1,840.3 
Asia Pacific448.3 412.8 808.5 749.0 
Europe, Middle East & Africa561.2 439.9 1,032.7 812.6 
2,136.4 1,821.0 3,901.4 3,401.9 
Eliminations(183.6)(86.9)(309.5)(146.7)
Total$1,952.8 $1,734.1 $3,591.9 $3,255.2 
Intersegment sales (1)
Three months ended June 30, 2024Three months ended June 30, 2023Six months ended June 30, 2024Six months ended June 30, 2023
Americas$5.8 $8.9 $14.1 $18.6 
Asia Pacific39.2 17.0 67.1 40.2 
Europe, Middle East & Africa (2)
138.6 61.0 228.3 87.9 
Total$183.6 $86.9 $309.5 $146.7 
(1)Intersegment selling prices approximate market prices.
(2)Intersegment sales in Europe, Middle East & Africa increased during the three and six months ended June 30, 2024 primarily as a result of higher sales volumes in the Busway and Switchgear product lines.
Operating profit (loss)Three months ended June 30, 2024Three months ended June 30, 2023Six months ended June 30, 2024Six months ended June 30, 2023
Americas$285.1 $191.7 $472.9 $337.5 
Asia Pacific32.3 38.2 62.7 54.8 
Europe, Middle East & Africa109.5 79.9 179.8 126.0 
Total reportable segments426.9 309.8 715.4 518.3 
Foreign currency gain (loss)(0.2)(7.5)(3.4)(10.6)
Corporate and other(44.9)(51.1)(81.6)(81.0)
Total corporate, other and eliminations(45.1)(58.6)(85.0)(91.6)
Amortization of intangibles(45.8)(45.4)(91.8)(90.6)
Operating profit (loss)$336.0 $205.8 $538.6 $336.1