SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

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


Segment Information

	Three Months Ended
September 30, 2024	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Eliminations		Total
External Sales	$	644.2	$	431.6	$	401.6	$	—	$	—	$	1,477.4
Intersegment Sales	2.0		0.5		4.6		—		(7.1)		—
Total Sales	646.2		432.1		406.2		—		(7.1)		1,477.4
Gross Profit	268.0		131.8		156.5		—		—		556.3
Operating Expenses	183.5		73.2		125.5		—		—		382.2




Income from Operations	84.5		58.6		31.0		—		—		174.1
Depreciation and Amortization	69.8		11.4		46.2		—		—		127.4
Capital Expenditures	13.7		8.0		7.6		—		—		29.3

September 30, 2023
External Sales	$	640.7	$	461.3	$	419.8	$	128.0	$	—	$	1,649.8
Intersegment Sales	3.6		3.1		4.2		0.6		(11.5)		—
Total Sales	644.3		464.4		424.0		128.6		(11.5)		1,649.8
Gross Profit	215.8		138.0		161.2		27.2		—		542.2
Operating Expenses	175.1		71.5		117.6		24.7		—		388.9
Goodwill Impairment	—		—		—		57.3		—		57.3
Asset Impairments	1.3		1.5		0.5		0.4		—		3.7
Loss on Assets Held for Sale	—		—		—		112.7		—		112.7
Total Operating Expenses	176.4		73.0		118.1		195.1		—		562.6
Income from Operations	39.4		65.0		43.1		(167.9)		—		(20.4)
Depreciation and Amortization	75.9		15.8		46.1		3.1		—		140.9
Capital Expenditures	5.8		8.1		9.8		1.5		—		25.2


Segment Information

	Nine Months Ended
September 30, 2024	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems(1)		Eliminations		Total
External Sales	$	1,963.1	$	1,227.8	$	1,224.0	$	157.8	$	—	$	4,572.7
Intersegment Sales	6.7		6.2		13.5		0.5		(26.9)		—
Total Sales	1,969.8		1,234.0		1,237.5		158.3		(26.9)		4,572.7
Gross Profit	803.3		352.3		485.6		39.2		—		1,680.4
Operating Expenses	546.7		219.9		371.5		34.6		—		1,172.7

Asset Impairments	0.2		0.2		1.1		—		—		1.5
Loss on Sale of Businesses	—		—		—		4.3		—		4.3
Total Operating Expenses	546.9		220.1		372.6		38.9		—		1,178.5
Income from Operations	256.4		132.2		113.0		0.3		—		501.9
Depreciation and Amortization	210.7		33.6		137.7		0.6		—		382.6
Capital Expenditures	36.8		19.1		20.0		4.3		—		80.2

September 30, 2023
External Sales	$	1,753.8	$	1,390.9	$	1,096.1	$	401.7	$	—	$	4,642.5
Intersegment Sales	11.5		10.8		15.3		2.0		(39.6)		—
Total Sales	1,765.3		1,401.7		1,111.4		403.7		(39.6)		4,642.5
Gross Profit	617.6		389.5		412.8		84.2		—		1,504.1
Operating Expenses	510.5		217.8		323.7		75.9		—		1,127.9
Goodwill Impairment	—		—		—		57.3				57.3
Asset Impairments	1.6		1.5		2.6		0.4				6.1
Loss on Assets Held for Sale	—		—		—		112.7				112.7
Total Operating Expenses	512.1		219.3		326.3		246.3		—		1,304.0
Income from Operations	105.5		170.2		86.5		(162.1)		—		200.1
Depreciation and Amortization	191.9		39.3		113.4		9.8		—		354.4
Capital Expenditures	30.9		25.2		27.2		5.4		—		88.7

(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 September 30, 2024 and December 31, 2023:


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Total
Identifiable Assets as of September 30, 2024	$	7,726.3	$	1,995.7	$	4,837.0	$	—	$	14,559.0
Identifiable Assets as of December 31, 2023	8,009.4		2,036.4		4,909.2		476.4		15,431.4