Segment Information (Tables)

12 Months Ended

Jan. 02, 2021

Schedule Change in Accounting Policy Related to LIFO

The effect of the change in accounting policy related to LIFO as discussed in Note 3 for fiscal 2020 and 2019 on a per quarter basis is as follows (in millions):


	Commercial Systems
	2019 Fiscal Quarter								2019		2020 Fiscal Quarter
	1st		2nd		3rd		4th		Total		1st		2nd		3rd
Gross Profit As Reported	$	65.5	$	65.2	$	53.6	$	48.6	$	232.9	$	50.7	$	42.3	$	61.4
Adjustment for Change in Accounting Principle	1.6		(1.2)		0.3		3.0		3.7		(0.4)		—		(0.7)
Gross Profit Adjusted for Change in Accounting Principle	$	67.1	$	64.0	$	53.9	$	51.6	$	236.6	$	50.4	$	42.3	$	60.7
Income from Operations as Adjusted for Change in Accounting Principle	$	59.4	$	19.6	$	16.9	$	10.9	$	106.8	$	12.1	$	6.2	$	24.6

	Industrial Systems
	2019 Fiscal Quarter								2019		2020 Fiscal Quarter
	1st		2nd		3rd		4th		Total		1st		2nd		3rd
Gross Profit As Reported	$	23.9	$	27.8	$	23.7	$	24.0	$	99.3	$	22.6	$	24.9	$	31.2
Adjustment for Change in Accounting Principle	(1.6)		1.2		(0.3)		(3.0)		(3.7)		0.4		—		0.7
Gross Profit Adjusted for Change in Accounting Principle	$	22.3	$	29.0	$	23.4	$	21.0	$	95.6	$	23.0	$	24.8	$	31.9
Income (Loss) from Operations as Adjusted for Change in Accounting Principle	$	(5.9)	$	(0.1)	$	(2.6)	$	(4.4)	$	(13.0)	$	(0.1)	$	3.2	$	7.3

Schedule of Financial Information Attributable To The Reporting Segments

The following sets forth certain financial information attributable to the Company's operating segments for fiscal 2020, fiscal 2019 and fiscal 2018, respectively (in millions):


	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
Fiscal 2020
External Sales	$	820.2	$	528.8	$	846.8	$	711.2	$	—	$	2,907.0
Intersegment Sales	62.5		27.7		18.8		2.5		(111.5)		—
Total Sales	882.7		556.5		865.6		713.7		(111.5)		2,907.0
Gross Profit	213.8		96.7		246.8		251.4		—		808.7
Operating Expenses	144.9		91.6		115.5		160.9		—		512.9
Goodwill Impairment	—		10.5		—		—		—		10.5
Gain on Sale of Businesses	(0.1)		—		—		—		—		(0.1)
Asset Impairments	2.8		0.2		1.3		1.0		—		5.3
Income (Loss) from Operations	66.2		(5.6)		130.0		89.5		—		280.1
Depreciation and Amortization	32.6		23.9		19.6		55.3		—		131.4
Capital Expenditures	15.3		8.1		12.1		12.0		—		47.5
Fiscal 2019
External Sales	$	905.3	$	575.4	$	968.5	$	788.8	$	—	$	3,238.0
Intersegment Sales	46.9		35.9		17.4		4.3		(104.5)		—
Total Sales	952.2		611.3		985.9		793.1		(104.5)		3,238.0
Gross Profit	236.6		95.6		269.8		258.7		—		860.7
Operating Expenses	162.4		107.6		110.6		163.7		—		544.3

Asset Impairments	6.7		0.9		1.3		1.1		—		10.0
(Gain) Loss on Sale of Businesses	(39.3)		0.1		(6.0)		0.5		—		(44.7)
Income (Loss) from Operations	106.8		(13.0)		163.9		93.4		—		351.1
Depreciation and Amortization	34.6		24.4		19.8		55.7		—		134.5
Capital Expenditures	29.9		21.0		23.3		18.2		—		92.4
Fiscal 2018
External Sales	$	1,110.9	$	671.1	$	1,024.8	$	838.8	$	—	$	3,645.6
Intersegment Sales	47.3		31.9		22.1		24.1		(125.4)		—
Total Sales	1,158.2		703.0		1,046.9		862.9		(125.4)		3,645.6
Gross Profit	287.0		136.4		262.7		278.5		—		964.6
Operating Expenses	184.8		111.6		128.9		174.1		—		599.4
Goodwill Impairment	—		—		9.5		—		—		9.5
Asset Impairments	—		—		8.7		—		—		8.7

Income from Operations	102.2		24.8		115.6		104.4		—		347.0
Depreciation and Amortization	40.3		26.7		21.0		54.4		—		142.4
Capital Expenditures	24.6		17.2		17.7		18.1		—		77.6

The following table presents identifiable assets information attributable to the Company's operating segments. The identifiable assets as of the December 28, 2019 have been retrospectively adjusted to reflect the change in accounting principle related to LIFO inventories as discussed in Note 3. The changes reflected in assets as of December 28, 2019 are an increase of $5.4 million for Commercial Systems and a decrease of $5.4 million for Industrial Systems. The table presents identifiable assets information as of January 2, 2021 and December 28, 2019 (in millions):


	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Total
Identifiable Assets as of January 2, 2021	$	1,319.6	$	837.5	$	890.4	$	1,541.5	$	4,589.0
Identifiable Assets as of December 28, 2019	1,203.9		797.4		878.3		1,551.1		4,430.7

Schedule of Financial Information Attributable To Geographic Regions

The following sets forth net sales by country in which the Company operates for fiscal 2020, fiscal 2019 and fiscal 2018, respectively (in millions):


	Net Sales
	2020		2019		2018
United States	$	1,885.1	$	2,071.9	$	2,402.9
Rest of the World	1,021.9		1,166.1		1,242.7
Total	$	2,907.0	$	3,238.0	$	3,645.6

The following sets forth long-lived assets (net property, plant and equipment) by country in which the Company operates for fiscal 2020 and fiscal 2019, respectively (in millions):


	Long-lived Assets
	2020		2019
United States	$	200.5	$	237.6
Mexico	141.2		149.0
China	85.7		84.9
Rest of the World	128.1		133.5
Total	$	555.5	$	605.0