SEGMENT INFORMATION

3 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONThe Company is comprised of four operating segments: Commercial Systems, Industrial Systems, Climate Solutions and Power Transmission Solutions.

Commercial Systems segment produces fractional to approximately 5 horsepower AC and DC motors, electronic variable speed controls, fans, and blowers for commercial applications. These products serve markets including commercial building ventilation and HVAC, pool and spa, irrigation, dewatering, agriculture, and general commercial equipment.

Industrial Systems segment produces integral motors, generators, alternators and switchgear for industrial applications, along with aftermarket parts and kits to support such products. These products serve markets including agriculture, marine, mining, oil and gas, food and beverage, data centers, healthcare, prime and standby power, and general industrial equipment.

Climate Solutions segment produces small motors, electronic variable speed controls and air moving solutions serving markets including residential and light commercial HVAC, water heaters and commercial refrigeration.

Power Transmission Solutions segment produces, sells and services belt and chain drives, helical and worm gearing, mounted and unmounted bearings, couplings, modular plastic belts, conveying chains and components, hydraulic pump drives, large open gearing and specialty mechanical products serving markets including e-commerce, alternative energy, beverage, bulk handling, metals, special machinery, energy, aerospace and general industrial.

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 certain financial information attributable to the Company's operating segments for the three months ended April 3, 2021 and March 28, 2020 (in millions):

	Three Months Ended
April 3, 2021	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
External Sales	$	237.0	$	136.4	$	239.1	$	201.6	$	—	$	814.1
Intersegment Sales	17.5		3.7		4.3		0.7		(26.2)		—
Total Sales	254.5		140.1		243.4		202.3		(26.2)		814.1
Gross Profit	65.5		26.8		74.0		79.1		—		245.4
Operating Expenses	38.0		23.1		30.7		56.5		—		148.3
Income from Operations	27.5		3.7		43.3		22.6		—		97.1
Depreciation and Amortization	7.8		5.9		4.5		13.6		—		31.8
Capital Expenditures	3.3		2.4		3.2		1.8		—		10.7
March 28, 2020
External Sales	$	199.4	$	129.6	$	210.1	$	195.1	$	—	$	734.2
Intersegment Sales	11.8		6.7		4.5		0.7		(23.7)		—
Total Sales	211.2		136.3		214.6		195.8		(23.7)		734.2
Gross Profit	50.3		23.0		59.4		70.6		—		203.3
Operating Expenses	37.5		22.9		29.4		42.1		—		131.9
Gain on Divestitures	(0.1)		—		—		—		—		(0.1)
Asset Impairments	0.8		0.2		0.5		—		—		1.5
Total Operating Expenses	38.2		23.1		29.9		42.1		—		133.3
Income (Loss) from Operations	12.1		(0.1)		29.5		28.5		—		70.0
Depreciation and Amortization	8.3		5.9		4.7		13.7		—		32.6
Capital Expenditures	3.1		2.0		3.6		2.2		—		10.9

The following table presents identifiable assets information attributable to the Company's operating segments as of April 3, 2021 and January 2, 2021 (in millions):

	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Total
Identifiable Assets as of April 3, 2021	$	1,324.2	$	847.4	$	934.6	$	1,521.0	$	4,627.2
Identifiable Assets as of January 2, 2021	$	1,319.6	$	837.5	$	890.4	$	1,541.5	$	4,589.0