Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

The following sets forth certain financial information attributable to the Company's operating segments, recast as described above, for fiscal 2023, fiscal 2022 and fiscal 2021, respectively:


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Eliminations		Total
Fiscal 2023
External Sales	$	2,403.5	$	1,808.9	$	1,516.8	$	521.5	$	—	$	6,250.7
Intersegment Sales	14.9		17.7		20.9		2.6		(56.1)		—
Total Sales	2,418.4		1,826.6		1,537.7		524.1		(56.1)		6,250.7
Gross Profit	844.1		524.9		582.4		115.9		—		2,067.3
Operating Expenses	689.8		306.0		440.0		101.6		—		1,537.4
Goodwill Impairment	—		—		—		57.3		—		57.3
Asset Impairments	2.5		1.5		3.4		0.4		—		7.8
Loss on Assets Held for Sale	—		—		—		87.7		—		87.7
Total Operating Expenses	692.3		307.5		443.4		247.0		—		1,690.2
Income (Loss) from Operations	151.8		217.4		139.0		(131.1)		—		377.1
Depreciation and Amortization	273.2		51.3		158.2		10.1		—		492.8
Capital Expenditures	41.3		35.0		34.6		8.2		—		119.1
Fiscal 2022
External Sales	$	1,666.3	$	2,227.2	$	772.3	$	552.1	$	—	$	5,217.9
Intersegment Sales	7.3		10.4		15.8		1.9		(35.4)		—
Total Sales	1,673.6		2,237.6		788.1		554.0		(35.4)		5,217.9
Gross Profit	653.8		611.1		274.8		130.0		—		1,669.7
Operating Expenses	410.7		284.2		196.6		86.9		—		978.4

Asset Impairments	0.9		—		—		—		—		0.9

Total Operating Expenses	411.6		284.2		196.6		86.9		—		979.3
Income from Operations	242.2		326.9		78.2		43.1		—		690.4
Depreciation and Amortization	169.0		46.9		78.0		13.5		—		307.4
Capital Expenditures	18.8		41.9		11.2		11.9		—		83.8
Fiscal 2021
External Sales	$	871.7	$	2,062.7	$	361.7	$	514.2	$	—	$	3,810.3
Intersegment Sales	4.2		10.9		3.7		2.0		(20.8)		—
Total Sales	875.9		2,073.6		365.4		516.2		(20.8)		3,810.3
Gross Profit	311.6		586.5		124.8		88.7		—		1,111.6
Operating Expenses	268.5		276.6		88.5		81.1		—		714.7
Goodwill Impairment	—		—		—		33.0		—		33.0
Asset Impairments	0.5		2.3		2.8		—		—		5.6

Total Operating Expenses	269.0		278.9		91.3		114.1		—		753.3
Income (Loss) from Operations	42.6		307.6		33.5		(25.4)		—		358.3
Depreciation and Amortization	89.5		46.4		11.9		22.8		—		170.6
Capital Expenditures	11.1		29.5		4.6		9.3		—		54.5

The following table presents total identifiable assets attributable to the Company's operating segments as of December 31, 2023 and December 31, 2022:


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Total
Identifiable Assets as of December 31, 2023	$	8,009.4	$	2,036.4	$	4,909.2	$	476.4	$	15,431.4
Identifiable Assets as of December 31, 2022	5,028.5		2,234.1		2,202.2		804.1		10,268.9

Schedule of Financial Information Attributable To Geographic Regions

The following sets forth net sales by country in which the Company operates for fiscal 2023, fiscal 2022 and fiscal 2021, respectively:


	Net Sales
	2023		2022		2021
United States	$	3,840.4	$	3,332.5	$	2,364.7
Rest of the World	2,410.3		1,885.4		1,445.6
Total	$	6,250.7	$	5,217.9	$	3,810.3

The following sets forth net property, plant and equipment by country in which the Company operates for fiscal 2023 and fiscal 2022, respectively:


	Net Property, Plant and Equipment
	2023		2022
United States	$	441.1	$	307.8
Mexico	203.8		200.4
Germany	113.0		53.2
China	45.8		79.4

Rest of the World	237.5		166.2
Total	$	1,041.2	$	807.0