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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Revenue by Reporting Segments
The following table presents our revenue for each segment and reconciles our total segment revenue to total consolidated revenue.
 Revenue
For the Year Ended December 31202320222021
Motion Technologies$1,457.8 $1,374.0 $1,368.6 
Industrial Process1,129.6 971.0 843.2 
Connect & Control Technologies699.4 645.6 554.7 
Total segment revenue
3,286.8 2,990.6 2,766.5 
Eliminations(3.8)(2.9)(1.5)
Total consolidated revenue
$3,283.0 $2,987.7 $2,765.0 
The following table presents our operating income for each segment and reconciles our total segment operating income to income from continuing operations before income tax.
 Operating Income
For the Year Ended December 31202320222021
Motion Technologies$230.8 $208.5 $258.2 
Industrial Process243.6 187.6 126.8 
Connect & Control Technologies107.5 115.8 81.7 
Total segment operating income
581.9 511.9 466.7 
Other corporate costs
(53.7)(43.9)(36.8)
Asbestos-related benefit, net(a)
— — 74.4 
Interest (expense) income, net
(10.4)(6.4)1.1 
Other non-operating income, net
1.7 0.2 3.7 
Income from continuing operations before income tax$519.5 $461.8 $509.1 
(a)The 2021 period includes a pre-tax gain of $88.8 resulting from the InTelCo divestiture transaction. See Note 19, Commitments and Contingencies, for further information.
The following table presents our operating margin for each segment. Segment operating margin is calculated as segment operating income divided by segment revenue.
 
For the Year Ended December 31202320222021
Motion Technologies
15.8 %15.2 %18.9 %
Industrial Process
21.6 %19.3 %15.0 %
Connect & Control Technologies
15.4 %17.9 %14.7 %
Schedule of Segment Reporting Information
The following table presents our assets as of December 31, 2023 and 2022, as well as our capital expenditures and depreciation and amortization expense for the years ended December 31, 2023, 2022, and 2021, by segment.
 AssetsCapital
Expenditures		Depreciation
and Amortization
20232022202320222021202320222021
Motion Technologies$1,366.6 $1,311.9 $72.0 $73.2 $71.1 $64.4 $59.9 $64.1 
Industrial Process1,323.2 1,218.6 17.7 10.9 6.7 21.9 25.3 22.3 
Connect & Control Technologies834.6 751.6 16.1 14.8 8.5 20.3 18.8 21.8 
Corporate and Other408.2 498.2 1.8 5.0 2.1 2.6 3.4 4.9 
Total$3,932.6 $3,780.3 $107.6 $103.9 $88.4 $109.2 $107.4 $113.1 
Business Segment Information by Geographical Information
The following table displays consolidated revenue by geographic region. Revenue is attributed to individual regions based on the destination of the product or service delivery.
For the Year Ended December 31, 2023Motion TechnologiesIndustrial ProcessConnect & Control TechnologiesEliminationsTotal
North America(a)
$265.2 $660.9 $441.1 $(3.7)$1,363.5 
Europe(b)
802.7 109.1 134.8 — 1,046.6 
Asia(c)
370.1 118.5 84.1 (0.1)572.6 
Middle East and Africa1.5 139.6 28.4 — 169.5 
South America18.3 101.5 11.0 — 130.8 
Total$1,457.8 $1,129.6 $699.4 $(3.8)$3,283.0 
For the Year Ended December 31, 2022
North America(a)
$266.9 $566.2 $390.2 $(2.8)$1,220.5 
Europe(b)
756.7 94.6 136.4 — 987.7 
Asia(c)
333.6 102.8 88.1 (0.1)524.4 
Middle East and Africa1.3 120.8 22.4 — 144.5 
South America15.5 86.6 8.5 — 110.6 
Total$1,374.0 $971.0 $645.6 $(2.9)$2,987.7 
For the Year Ended December 31, 2021
North America(a)
$249.9 $470.1 $331.4 $(1.5)$1,049.9 
Europe(b)
798.8 96.0 115.5 — 1,010.3 
Asia(c)
307.8 99.8 84.0 — 491.6 
Middle East and Africa1.0 97.7 18.1 — 116.8 
South America11.1 79.6 5.7 — 96.4 
Total$1,368.6 $843.2 $554.7 $(1.5)$2,765.0 
(a)Includes revenue of $1,075.8, $978.6, and $842.9 from the United States for 2023, 2022, and 2021, respectively.
(b)Includes revenue of $387.8, $404.7, and $418.3 from Germany for 2023, 2022, and 2021, respectively.
(c)Includes revenue of $351.8, $307.8, and $306.5 from China for 2023, 2022, and 2021, respectively.
Schedule of PP&E by Geographic Region
The following table displays Plant, Property and Equipment (PPE), net by geographic region.
As of December 3120232022
North America(a)
$165.0 $156.5 
Europe(b)
287.5 272.5 
Asia(c)
87.8 79.2 
Middle East and Africa17.8 15.8 
South America2.9 2.8 
Total$561.0 $526.8 
(a)Includes PPE, net of $127.1 and $125.2 in the United States as of December 31, 2023 and 2022, respectively.
(b)Includes PPE, net of $134.4 and $113.6 in Italy as of December 31, 2023 and 2022, respectively.
(c)Includes PPE, net of $63.2 and $52.8 in China as of December 31, 2023 and 2022, respectively.