SEGMENT INFORMATION

9 Months Ended

Oct. 02, 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. Effective as of October 4, 2021, the Company's Power Transmissions Solutions operating segment was renamed Motion Control 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 and nine months ended October 2, 2021 and September 26, 2020 (in millions):

	Three Months Ended
October 2, 2021	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
External Sales	$	268.7	$	148.0	$	268.4	$	207.6	$	—	$	892.7
Intersegment Sales	22.5		7.7		4.4		0.7		(35.3)		—
Total Sales	291.2		155.7		272.8		208.3		(35.3)		892.7
Gross Profit	70.8		25.9		81.2		76.7		—		254.6
Operating Expenses	40.4		19.5		29.1		55.4		—		144.4
Asset Impairments	—		—		—		2.8		—		2.8
Total Operating Expenses	40.4		19.5		29.1		58.2		—		147.2
Income from Operations	30.4		6.4		52.1		18.5		—		107.4
Depreciation and Amortization	7.2		5.8		4.4		13.1		—		30.5
Capital Expenditures	4.8		2.3		2.5		3.6		—		13.2
September 26, 2020
External Sales	$	218.5	$	138.8	$	234.0	$	166.9	$	—	$	758.2
Intersegment Sales	14.5		7.4		4.6		0.6		(27.1)		—
Total Sales	233.0		146.2		238.6		167.5		(27.1)		758.2
Gross Profit	60.7		31.9		69.1		59.9		—		221.6
Operating Expenses	36.1		24.6		29.9		41.0		—		131.6
Income from Operations	24.6		7.3		39.2		18.9		—		90.0
Depreciation and Amortization	7.9		6.0		5.0		14.0		—		32.9
Capital Expenditures	3.2		1.7		1.8		2.6		—		9.3

	Nine Months Ended
October 2, 2021	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
External Sales	$	775.0	$	429.6	$	764.8	$	624.3	$	—	$	2,593.7
Intersegment Sales	59.9		18.7		13.8		2.2		(94.6)		—
Total Sales	834.9		448.3		778.6		626.5		(94.6)		2,593.7
Gross Profit	203.8		78.9		229.2		239.6		—		751.5
Operating Expenses	118.7		65.7		86.8		161.7		—		432.9
Asset Impairments	1.8		—		0.5		2.8		—		5.1
Total Operating Expenses	120.5		65.7		87.3		164.5		—		438.0
Income from Operations	83.3		13.2		141.9		75.1		—		313.5
Depreciation and Amortization	22.8		17.4		12.5		40.1		—		92.8
Capital Expenditures	12.6		8.0		8.7		8.2		—		37.5
September 26, 2020
External Sales	$	593.8	$	389.0	$	622.3	$	521.4	$	—	$	2,126.5
Intersegment Sales	43.2		23.2		13.0		1.9		(81.3)		—
Total Sales	637.0		412.2		635.3		523.3		(81.3)		2,126.5
Gross Profit	153.4		79.8		175.9		186.1		—		595.2
Operating Expenses	107.8		69.2		85.9		122.2		—		385.1
Gain on Divestiture of Businesses	(0.1)		—		—		—		—		(0.1)
Asset Impairments	2.8		0.2		1.3		—		—		4.3
Total Operating Expenses	110.5		69.4		87.2		122.2		—		389.3
Income from Operations	42.9		10.4		88.7		63.9		—		205.9
Depreciation and Amortization	24.5		17.9		14.7		41.7		—		98.8
Capital Expenditures	8.5		6.0		8.0		7.2		—		29.7

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

	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Total
Identifiable Assets as of October 2, 2021	$	1,217.1	$	846.2	$	924.6	$	1,497.1	$	4,485.0
Identifiable Assets as of January 2, 2021	1,319.6		837.5		890.4		1,541.5		4,589.0