REVENUE Revenue (Tables)

6 Months Ended

Jun. 29, 2024

Jul. 01, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by End Market Table

The following tables present our revenue disaggregated by end market.

For the Three Months Ended June 29, 2024	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
Auto and rail	$	375.9	$	—	$	—	$	—	$	375.9
Chemical and industrial pumps	—		230.4		—		—		230.4
Energy	—		100.3		13.1		—		113.4
Aerospace and defense	2.0		—		114.7		—		116.7
General industrial	6.6		—		64.0		(1.1)		69.5
Total	$	384.5	$	330.7	$	191.8	$	(1.1)	$	905.9
For the Six Months Ended June 29, 2024
Auto and rail	$	759.8	$	—	$	—	$	(0.1)	$	759.7
Chemical and industrial pumps	—		449.3		—		—		449.3
Energy	—		215.3		26.5		—		241.8
Aerospace and defense	3.7		—		218.8		—		222.5
General industrial	13.4		—		131.6		(1.8)		143.2
Total	$	776.9	$	664.6	$	376.9	$	(1.9)	$	1,816.5

For the Three Months Ended July 1, 2023
Auto and rail	$	360.0	$	—	$	—	$	—	$	360.0
Chemical and industrial pumps	—		226.5		—		—		226.5
Energy	—		67.1		13.9		—		81.0
Aerospace and defense	2.0		—		94.1		—		96.1
General industrial	6.8		—		64.2		(0.7)		70.3
Total	$	368.8	$	293.6	$	172.2	$	(0.7)	$	833.9
For the Six Months Ended July 1, 2023
Auto and rail	$	716.0	$	—	$	—	$	—	$	716.0
Chemical and industrial pumps	—		444.5		—		—		444.5
Energy	—		115.6		24.1		—		139.7
Aerospace and defense	3.9		—		181.0		—		184.9
General industrial	13.7		—		134.7		(1.7)		146.7
Total	$	733.6	$	560.1	$	339.8	$	(1.7)	$	1,631.8

Net Contract Assets and Liabilities Table

The following table represents our net contract assets and liabilities.

As of the Period Ended	June 29, 2024		December 31, 2023
Current contract assets	$	47.5	$	25.8
Non-current contract assets	1.5		1.6
Current contract liabilities(a)	(137.1)		(95.9)
Non-current contract liabilities	(4.5)		(4.5)
Net contract liabilities	$	(92.6)	$	(73.0)

(a)The increase in current contract liabilities from December 31, 2023 to June 29, 2024 was primarily driven by the acquisition of Svanehøj. Refer to Note 18, Acquisitions and Divestitures, for further information.