Industry Segment Information

12 Months Ended

Jan. 03, 2015

Segment Reporting [Abstract]

Industry Segment Information

(6) Segment Information

The following sets forth certain financial information attributable to the Company's reporting segments for fiscal 2014, fiscal 2013 and fiscal 2012, respectively (in millions):

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions			Eliminations			Total
Fiscal 2014
External sales	$	1,856.1	$	1,134.8	$	266.2		$	—		$	3,257.1
Intersegment sales	78.2		19.2		5.1			(102.5		)	—
Total sales	1,934.3		1,154.0		271.3			(102.5		)	3,257.1
Gross profit	468.2		258.8		70.3			—			797.3
Operating expenses	333.9		137.7		44.7			—			516.3
Goodwill impairment	100.7		7.7		11.1			—			119.5
Asset impairments and other, net	—		13.8		26.2			—			40.0
Income (loss) from operations	33.6		99.6		(11.7		)	—			121.5
Depreciation and amortization	81.5		45.0		12.2			—			138.7
Capital expenditures	59.6		16.8		7.2			—			83.6
Identifiable assets	2,407.3		855.3		145.0			—			3,407.6
Fiscal 2013
External sales	$	1,746.6	$	1,098.6	$	250.5		$	—		3,095.7
Intersegment sales	73.6		16.6		5.0			(95.2		)	—
Total sales	1,820.2		1,115.2		255.5			(95.2		)	3,095.7
Gross profit	461.8		252.9		68.5			—			783.2
Operating expenses	311.1		143.6		39.5			—			494.2
Goodwill impairments	64.2		—		12.1			—			76.3
Asset impairments and other, net	4.7		—		—			—			4.7
Income from operations	81.8		109.3		16.9			—			208.0
Depreciation and amortization	67.3		49.0		12.2			—			128.5
Capital expenditures	56.4		17.9		8.4			—			82.7
Identifiable assets	2,614.9		823.5		205.1			—			3,643.5
Fiscal 2012
External sales	$	1,793.2	$	1,102.7	$	271.0		$	—		$	3,166.9
Intersegment sales	40.0		15.1		3.9			(59.0		)	—
Total sales	1,833.2		1,117.8		274.9			(59.0		)	3,166.9
Gross profit	451.3		244.8		74.9			—			771.0
Operating expenses	281.9		141.1		35.2			—			458.2
Income from operations	169.4		103.7		39.7			—			312.8
Depreciation and amortization	64.6		50.7		10.7			—			126.0
Capital expenditures	64.4		17.8		8.8			—			91.0
Identifiable assets	2,572.7		785.9		210.5			—			3,569.1

In the fourth quarter of 2014, the Company reorganized its reportable segments to align with its new management reporting structure and business activities. Prior to this reorganization, the Company was comprised of two reportable segments for financial reporting purposes: Electrical and Mechanical. As a result of this change, the Company is now comprised of three reportable segments: Commercial & Industrial Systems, Climate Solutions and Power Transmission Solutions. Historical financial information has been revised on a basis consistent with these segments.

The Climate Solutions segment produces small motors, controls and air moving solutions. Applications include residential and light commercial HVAC, commercial refrigeration and water heaters.

The Power Transmission Solutions segment produces power transmission gearing, hydraulic pump drives, large open gearing and specialty mechanical products. Applications include material handling, industrial equipment, energy and off-road equipment.

The Company evaluates performance based on the segment's income from operations. Corporate costs have been allocated to each segment based on the net sales of each segment. The reported external net sales of each segment are from external customers.

The following sets forth net sales by country in which the Company operates for fiscal 2014, fiscal 2013 and fiscal 2012, respectively (in millions):

	Net Sales
	2014		2013		2012
Geographic Information:
United States	$	2,359.3	$	2,017.6	$	2,127.2
Rest of the World	897.8		1,078.1		1,039.7
	$	3,257.1	$	3,095.7	$	3,166.9

U.S. net sales for 2014, 2013 and 2012 represented 72.4%, 65.2% and 67.2% of total net sales, respectively. No individual foreign country represented a material portion of total net sales for any of the years presented.

The following sets forth long-lived assets (net property, plant and equipment) by country in which the Company operates for fiscal 2014 and fiscal 2013, respectively (in millions):

	Long-lived Assets
	2014		2013
Geographic Information:
United States	$	293.5	$	244.5
Mexico	33.5		111.4
China	107.9		111.4
Rest of the World	96.6		106.1
	$	531.5	$	573.4