Segment Information

12 Months Ended

Dec. 31, 2020

SEGMENT INFORMATION

The Company’s segments are reported on the same basis used by our chief operating decision maker, for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Motion Technologies, Industrial Process, and Connect & Control Technologies.

Motion Technologies manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation markets.

Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, oil and gas, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts.

Connect & Control Technologies manufactures harsh-environment connector solutions, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and oil and gas markets.

Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, such as asbestos and environmental liabilities, that are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. Assets of the segments exclude general corporate assets, which principally consist of cash, investments, asbestos-related receivables, deferred taxes, and certain property, plant and equipment.


	Revenue						Operating Income						Operating Margin
	2020		2019		2018		2020		2019		2018		2020		2019		2018
Motion Technologies	$	1,121.1	$	1,241.8	$	1,274.1	$	184.0	$	216.1	$	223.4	16.4	%	17.4	%	17.5	%
Industrial Process	843.0		943.8		827.1		77.6		104.7		91.4		9.2	%	11.1	%	11.1	%
Connect & Control Technologies	516.5		663.9		646.6		57.0		111.5		96.5		11.0	%	16.8	%	14.9	%
Total segment results	2,480.6		2,849.5		2,747.8		318.6		432.3		411.3		12.9	%	15.2	%	15.0	%
Asbestos-related (costs) benefit, net	—		—		—		(66.3)		20.2		(4.9)		—		—		—
Gain (loss) on sale or disposal of long-lived corporate assets	—		—		—		0.7		(0.2)		38.5		—		—		—
Eliminations / Other corporate costs	(2.8)		(3.1)		(2.7)		(26.5)		(40.9)		(47.6)		—		—		—
Total Eliminations / Corporate and Other costs	(2.8)		(3.1)		(2.7)		(92.1)		(20.9)		(14.0)		—		—		—
Total	$	2,477.8	$	2,846.4	$	2,745.1	$	226.5	$	411.4	$	397.3	9.1	%	14.5	%	14.5	%


	Assets				Capital Expenditures						Depreciation and Amortization
	2020		2019		2020		2019		2018		2020		2019		2018
Motion Technologies	$	1,202.3	$	1,178.2	$	43.8	$	57.7	$	75.0	$	60.0	$	58.6	$	57.2
Industrial Process	1,069.6		1,137.8		8.3		11.2		7.8		23.7		26.3		26.9
Connect & Control Technologies	720.5		755.6		10.6		19.4		10.8		23.1		21.8		21.2
Corporate and Other	1,285.2		1,036.1		1.0		3.1		1.9		5.4		6.7		4.1
Total	$	4,277.6	$	4,107.7	$	63.7	$	91.4	$	95.5	$	112.2	$	113.4	$	109.4

The following table displays consolidated revenue by geographic region for the years ended December 31, 2020, 2019, and 2018. Revenue is attributed to individual regions based upon the destination of the product or service delivery.


For the Year Ended December 31, 2020	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
North America(a)	$	187.3	$	479.0	$	319.3	$	(2.6)	$	983.0
Europe(b)	676.4		95.5		97.4		—		869.3
Asia	243.8		93.1		77.0		(0.2)		413.7
Middle East and Africa	1.5		92.0		18.8		—		112.3
South America	12.1		83.4		4.0		—		99.5
Total	$	1,121.1	$	843.0	$	516.5	$	(2.8)	$	2,477.8

For the Year Ended December 31, 2019
North America(a)	$	204.4	$	558.7	$	431.9	$	(2.9)	$	1,192.1
Europe(b)	780.5		89.7		125.9		—		996.1
Asia	241.7		101.9		83.8		(0.2)		427.2
Middle East and Africa	2.3		114.1		16.3		—		132.7
South America	12.9		79.4		6.0		—		98.3
Total	$	1,241.8	$	943.8	$	663.9	$	(3.1)	$	2,846.4

For the Year Ended December 31, 2018
North America(a)	$	185.3	$	483.6	$	404.3	$	(2.4)	$	1,070.8
Europe(b)	807.6		60.3		132.9		(0.1)		1,000.7
Asia	265.5		81.6		84.5		(0.2)		431.4
Middle East and Africa	1.3		128.1		17.2		—		146.6
South America	14.4		73.5		7.7		—		95.6
Total	$	1,274.1	$	827.1	$	646.6	$	(2.7)	$	2,745.1

(a)Includes revenue of $811.0, $989.4, and $887.0, from the United States for 2020, 2019, and 2018, respectively.

(b)Includes revenue of $334.9, $391.2, and $412.5, from Germany for 2020, 2019, and 2018, respectively.

The following table displays Plant, Property and Equipment, net by geographic region as of December 31, 2020, and 2019.


	2020		2019
North America(a)	$	174.1	$	192.2
Europe(b)	263.8		250.0
Asia	83.7		84.6
Middle East and Africa	0.2		0.4
South America	3.3		4.3
Total	$	525.1	$	531.5

(a)Includes $141.8 and $158.7, in the United States as of December 31, 2020 and 2019, respectively.

(b)Includes $108.2 and $95.7, in Italy as of December 31, 2020 and 2019, respectively.