SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

The following sets forth certain financial information attributable to the Company's operating segments for the three and six months ended June 30, 2024 and June 30, 2023:


Segment Information

	Three Months Ended
June 30, 2024	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems(1)		Eliminations		Total
External Sales	$	675.5	$	410.9	$	422.2	$	39.0	$	—	$	1,547.6
Intersegment Sales	1.8		0.6		5.3		0.2		(7.9)		—
Total Sales	677.3		411.5		427.5		39.2		(7.9)		1,547.6
Gross Profit	270.5		121.2		169.2		10.1		—		571.0
Operating Expenses	180.7		76.1		127.4		10.1		—		394.3


Gain on Sale of Businesses	—		—		—		(17.2)		—		(17.2)
Total Operating Expenses	180.7		76.1		127.4		(7.1)		—		377.1
Income from Operations	89.8		45.1		41.8		17.2		—		193.9
Depreciation and Amortization	70.7		10.6		45.6		0.1		—		127.0
Capital Expenditures	14.3		7.4		6.5		4.2		—		32.4

June 30, 2023
External Sales	$	698.7	$	460.1	$	473.1	$	136.7	$	—	$	1,768.6
Intersegment Sales	4.4		3.5		5.9		0.7		(14.5)		—
Total Sales	703.1		463.6		479.0		137.4		(14.5)		1,768.6
Gross Profit	224.4		133.8		176.2		29.4		—		563.8
Operating Expenses	184.2		74.0		127.6		26.4		—		412.2




Income from Operations	40.2		59.8		48.6		3.0		—		151.6
Depreciation and Amortization	74.4		11.8		47.6		3.2		—		137.0
Capital Expenditures	19.7		8.4		14.3		2.4		—		44.8

(1) Results for the Industrial Systems segment cover the period through the completed sale on April 30, 2024.


Segment Information

	Six Months Ended
June 30, 2024	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems(1)		Eliminations		Total
External Sales	$	1,318.9	$	796.2	$	822.4	$	157.8	$	—	$	3,095.3
Intersegment Sales	4.7		5.7		9.8		0.5		(20.7)		—
Total Sales	1,323.7		801.9		832.2		158.2		(20.7)		3,095.3
Gross Profit	535.3		220.5		329.1		39.2		—		1,124.1
Operating Expenses	363.4		146.9		247.1		34.6		—		792.0


Loss on Sale of Businesses	—		—		—		4.3		—		4.3
Total Operating Expenses	363.4		146.9		247.1		38.9		—		796.3
Income from Operations	171.9		73.6		82.0		0.3		—		327.8
Depreciation and Amortization	140.9		22.2		91.5		0.6		—		255.2
Capital Expenditures	23.1		11.1		12.4		4.3		—		50.9

June 30, 2023
External Sales	$	1,113.1	$	929.6	$	676.3	$	273.7	$	—	$	2,992.7
Intersegment Sales	7.9		7.7		11.1		1.4		(28.1)		—
Total Sales	1,121.0		937.3		687.4		275.1		(28.1)		2,992.7
Gross Profit	401.8		251.5		251.6		57.0		—		961.9
Operating Expenses	335.7		146.3		208.2		51.2		—		741.4




Income from Operations	66.1		105.2		43.4		5.8		—		220.5
Depreciation and Amortization	116.0		23.5		67.3		6.7		—		213.5
Capital Expenditures	25.1		17.1		17.4		3.9		—		63.5

(1) Results for the Industrial Systems segment cover the period through the completed sale on April 30, 2024.

The following table presents identifiable assets information attributable to the Company's operating segments as of June 30, 2024 and December 31, 2023:


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Total
Identifiable Assets as of June 30, 2024	$	7,807.9	$	1,987.2	$	4,812.6	$	—	$	14,607.7
Identifiable Assets as of December 31, 2023	8,009.4		2,036.4		4,909.2		476.4		15,431.4