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Held for Sale, Acquisitions and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Asset and Liabilities Businesses Held for Sale The assets and liabilities related to these businesses have been reclassified to Assets Held for Sale, Noncurrent Assets Held for Sale, Liabilities Held for Sale and Noncurrent Liabilities Held for Sale on the Company's Consolidated Balance Sheet as of December 31, 2023 as shown in the table below:
December 31, 2023
Assets Held for Sale
Cash and Cash Equivalents$61.3 
Trade Receivables, Less Allowances88.3 
Inventories199.7 
Prepaid Expenses and Other Current Assets12.2 
  Total Current Assets Held for Sale$361.5 
Net Property, Plant and Equipment96.0 
Operating Lease Assets18.0 
Goodwill54.7 
Intangible Assets, Net of Amortization2.1 
Deferred Income Tax Benefits11.0 
Loss on Assets Held for Sale(87.7)
  Total Noncurrent Assets Held for Sale$94.1 
Liabilities Held for Sale
Accounts Payable$67.2 
Accrued Compensation and Employee Benefits11.3 
Other Accrued Expenses21.7 
Current Operating Lease Liabilities3.5 
  Total Current Liabilities Held for Sale$103.7 
Pension and Other Post Retirement Benefits0.9 
Noncurrent Operating Lease Liabilities16.2 
Other Noncurrent Liabilities3.3 
  Total Noncurrent Liabilities Held for Sale$20.4 
Schedule of Business Acquisitions
The preliminary purchase price of Altra consisted of the following:
As of December 31, 2023
Cash paid for outstanding Altra Common Stock(1)
$4,051.0 
Stock based compensation(2)
23.1 
Payment of Altra debt(3)
1,061.0 
Pre-existing relationships(4)
(0.5)
Preliminary purchase price$5,134.6 

(1) Cash paid for the common stock component of the preliminary purchase price was based on 65.3 million shares of outstanding Altra Common Stock as of March 27, 2023 at $62.00 per share, in accordance with the Altra Merger Agreement.

(2) Represents fair value of replacement equity-based awards and Company common stock issued in settlement of other Altra share based awards. The portion of the fair value attributable to pre-acquisition service was recorded as part of the consideration transferred in the Altra Transaction of which $17.3 million was paid in cash during the second quarter of 2023.
(3) Cash paid by the Company to settle (a) the term loan facility, (b) the revolving credit facility and (c) 95.28% of the 6.125% senior notes due 2026 of Stevens Holding Company, Inc., a wholly owned subsidiary of Altra (the "Altra Notes"). $18.1 million of the Altra Notes remained outstanding following the closing of the Altra Transaction. See Note 7 - Debt and Bank Credit Facilities for more information.

(4) Represents effective settlement of outstanding payables and receivables between the Company and Altra. No gain or loss was recognized on this settlement.
The final purchase price of the Rexnord PMC business consisted of the following:

As Reported as of January 1, 2022Measurement period adjustmentsAs Reported as of December 31, 2022
Fair value of Company common stock issued to Zurn (a)$3,896.3 $— $3,896.3 
Stock based compensation (b)47.1 — $47.1 
Adjustment amount (c)30.9 4.1 $35.0 
Land Financing Fees paid by the Company (d)3.9 — $3.9 
Preexisting Relationships (e)(0.8)— $(0.8)
Purchase price$3,977.4 $4.1 $3,981.5 

(a) Represents approximately 27 million new shares of Company common stock issued to Zurn stockholders in the exchange offer, based on the Company's October 4, 2021, closing share price of $151.00, less the Special Dividend amount of $6.99, which the Zurn stockholders were not entitled to receive.

(b) Represents fair value of replacement equity-based awards and Company common stock issued in settlement of other Zurn share based awards. The portion of the fair value attributable to pre-merger service was recorded as part of the consideration transferred in the Rexnord Merger.

(c) Represents working capital adjustment pursuant to the terms of the purchase agreement. The entire amount was settled and paid in cash by the Company as of March 31, 2022.

(d) Represents financing fees paid by the Company for the bridge facility that was negotiated in connection with the Rexnord Transaction and Land Term Facility (as defined in Note 7) that were determined to be costs of Zurn.

(e) Represents effective settlement of outstanding payables and receivables between the Company and the Rexnord PMC business. No gain or loss was recognized on this settlement.
Schedule of Assets Acquired and Liabilities Assumed
The preliminary fair value and subsequent measurement period adjustments of the assets acquired and liabilities assumed were as follows:
As Reported as of March 31, 2023Measurement period adjustmentsAs of December 31, 2023
Cash and Cash Equivalents$259.1 $— $259.1 
Trade Receivables258.1 — 258.1 
Inventories436.4 (48.9)387.5 
Prepaid Expenses and Other Current Assets33.0 (0.6)32.4 
Property, Plant and Equipment411.8 (8.8)403.0 
Intangible Assets2,224.0 (82.0)2,142.0 
Deferred Income Tax Benefits0.7 — 0.7 
Operating Lease Assets42.3 4.5 46.8 
Other Noncurrent Assets21.6 (8.9)12.7 
Accounts Payable(183.2)(0.1)(183.3)
Accrued Compensation and Benefits(66.1)0.1 (66.0)
Other Accrued Expenses(1)
(145.7)1.1 (144.6)
Current Operating Lease Liabilities(12.5)0.2 (12.3)
Current Maturities of Long-Term Debt(0.4)— (0.4)
Long-Term Debt(25.3)— (25.3)
Deferred Income Taxes(560.7)27.4 (533.3)
Pension and Other Post Retirement Benefits(19.8)— (19.8)
Noncurrent Operating Lease Liabilities(29.7)0.7 (29.0)
Other Noncurrent Liabilities(8.3)— (8.3)
Total Identifiable Net Assets2,635.3 (115.3)2,520.0 
Goodwill2,499.3 115.3 2,614.6 
Preliminary purchase price$5,134.6 $— $5,134.6 

(1) Includes $60.1 million related to Altra Transaction costs paid by the Company at the closing of the Altra Transaction. This cash payment is included within the Other Assets and Liabilities caption in the Operating section of the Consolidated Statement of Cash Flows.
As of December 31, 2022, the valuation process to determine the fair values of the net assets acquired during the measurement period was complete. The Company estimated the fair value of net assets acquired based on information available during the measurement period.

As Reported as of January 1, 2022Measurement period adjustmentsAs Reported as of December 31, 2022
Cash and Cash Equivalents$192.8 $— $192.8 
Trade Receivables186.9 (4.4)182.5 
Inventories262.5 (10.8)251.7 
Prepaid Expenses and Other Current Assets21.0 — 21.0 
Assets Held for Sale1.4 — 1.4 
Deferred Income Tax Benefits8.8 (7.7)1.1 
Property, Plant and Equipment412.3 (38.4)373.9 
Operating Lease Assets46.4 — 46.4 
Intangible Assets1,831.0 23.0 1,854.0 
Other Noncurrent Assets12.3 12.3 24.6 
Accounts Payable(121.1)— (121.1)
Accrued Compensation and Benefits(44.0)2.6 (41.4)
Other Accrued Expenses(55.7)(4.0)(59.7)
Current Operating Lease Liabilities(8.1)— (8.1)
Current Maturities of Long-Term Debt(2.5)— (2.5)
Long-Term Debt(558.2)— (558.2)
Deferred Income Taxes(508.2)13.2 (495.0)
Pension and Other Post Retirement Benefits(75.1)— (75.1)
Noncurrent Operating Lease Liabilities(38.0)— (38.0)
Other Noncurrent Liabilities(17.0)(8.6)(25.6)
Total Identifiable Net Assets1,547.5 (22.8)1,524.7 
Goodwill2,433.2 26.9 2,460.1 
Noncontrolling Interests(3.3)— (3.3)
Purchase price$3,977.4 $4.1 $3,981.5 
The final fair value of the assets acquired and liabilities assumed were as follows:
As Reported as of January 1, 2022Measurement period adjustmentsAs Reported as of December 31, 2022
Cash and Cash Equivalents$1.1 $— $1.1 
Trade Receivables19.1 (0.3)18.8 
Inventories12.8 — 12.8 
Prepaid Expenses and Other Current Assets7.6 — 7.6 
Property, Plant and Equipment3.7 — 3.7 
Intangible Assets(1)
160.0 — 160.0 
Accounts Payable(4.7)— (4.7)
Accrued Compensation and Benefits(2.6)— (2.6)
Other Accrued Expenses(25.0)— (25.0)
Total Identifiable Net Assets172.0 (0.3)171.7 
Goodwill143.6 0.3 143.9 
Purchase price$315.6 $— $315.6 
(1) Includes $124.0 million related to Customer Relationships, $18.0 million related to Trademarks and $18.0 million related to Technology.
Schedule of Fair Value and Weighted Average Useful Life of Identifiable Intangible Assets
The preliminary fair value and weighted average useful life of the identifiable intangible assets are as follows:
Fair ValueWeighted Average Useful Life (Years)
Customer Relationships(1)
$1,710.0 14.0
Trademarks(2)
330.0 10.0
Technology(3)
102.0 13.0
Total Identifiable Intangible Assets$2,142.0 

(1) The fair value of Customer Relationships was valued using a multi-period excess earnings method, a form of the income approach, which incorporates the estimated future cash flows to be generated from Altra's existing customer base.
(2) The Altra Trademarks were valued using the relief from royalty method, which considers both the market approach and the income approach.
(3) The Altra Technology was valued using the relief from royalty method, which considers both the market approach and the income approach.
The fair value and weighted average useful life of the identifiable intangible assets are as follows:

Fair ValueWeighted Average Useful Life (Years)
Trademarks(1)
$225.0 10
Customer Relationships(2)
1,519.0 17
Technology(3)
87.0 12
Total Identifiable Intangible Assets$1,831.0 

The fair value estimates for identifiable intangible assets are preliminary and are based upon assumptions that market participants would use in pricing an asset.

(1) The Rexnord PMC business Trademarks were valued using the relief from royalty method, which considers both the market approach and the income approach.
(2) The fair value of Customer Relationships was valued using a multi-period excess earnings method, a form of the income approach, which incorporates the estimated future cash flows to be generated from the Rexnord PMC business's existing customer base.
(3) The Rexnord PMC business Technology were valued using the relief from royalty method, which considers both the market approach and the income approach.
Schedule of Pro Forma Information
The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the Altra Transaction been completed as of the date indicated or the results that may be obtained in the future.

For the Year Ended December 31, 2023For the Year Ended December 31, 2022
Net Sales$6,701.8 $7,163.4 
Net Income Attributable to Regal Rexnord Corporation$50.1 $131.1 
Earnings Per Share Attributable to Regal Rexnord Corporation:
   Basic$0.76 $1.97 
   Assuming Dilution$0.75 $1.95 
The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the Rexnord Transaction been completed as of the date indicated or the results that may be obtained in the future.
Unaudited Supplemental Pro Forma Financial Information
For the Year Ended January 1, 2022For the Year Ended January 2, 2021
Net Sales$4,780.7 $4,136.8 
Net Income Attributable to Regal Rexnord Corporation$347.3 $84.8 
Earnings Per Share Attributable to Regal Rexnord Corporation:
   Basic$5.13 $1.25 
   Assuming Dilution$5.09 $1.25