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Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents the Company’s revenues disaggregated by geographical region for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively:
December 31, 2024Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
North America$1,734.9 $1,276.5 $1,088.8 $79.4 $4,179.6 
Asia172.7 167.7 91.5 44.3 476.2 
Europe482.0 133.9 372.7 17.6 1,006.2 
Rest-of-World208.5 66.0 80.8 16.5 371.8 
Total$2,598.1 $1,644.1 $1,633.8 $157.8 $6,033.8 
December 31, 2023Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
North America$1,636.1 $1,419.2 $1,006.3 $274.6 $4,336.2 
Asia168.9 178.7 76.1 146.6 570.3 
Europe420.5 149.7 342.6 55.8 968.6 
Rest-of-World178.0 61.3 91.8 44.5 375.6 
Total$2,403.5 $1,808.9 $1,516.8 $521.5 $6,250.7 

December 31, 2022Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
North America$1,232.2 $1,766.9 $559.0 $298.5 $3,856.6 
Asia140.6 188.1 17.0 159.1 504.8 
Europe240.0 182.2 154.2 50.7 627.1 
Rest-of-World53.5 90.0 42.1 43.8 229.4 
Total$1,666.3 $2,227.2 $772.3 $552.1 $5,217.9 
Schedule of Research and Development Costs are Expense The costs are primarily recorded in Operating Expenses and were as follows for the years noted in the table below:
December 31, 2024December 31, 2023December 31, 2022
Research, Development and Engineering Costs$176.4 $171.0 $106.6 
Schedule of Percentage Distribution Between Major Classes of Inventory
The major classes of inventory at year end are as follows:
December 31, 2024December 31, 2023
Raw Material and Work in Process67.8%66.7%
Finished Goods and Purchased Parts32.2%33.3%
Schedule of Property, Plant and Equipment
Property, plant and equipment by major classification was as follows:
Useful Life (In Years)December 31, 2024December 31, 2023
Land and Improvements$134.5 $139.2 
Buildings and Improvements
3-50
387.2 414.5 
Machinery, Equipment and Other
3-15
1,189.8 1,219.4 
  Property, Plant and Equipment1,711.5 1,773.1 
Less: Accumulated Depreciation(790.5)(731.9)
  Net Property, Plant and Equipment$921.0 $1,041.2 
Schedule of Earnings (Loss) Per Share The following table reconciles the basic and diluted shares used in earnings (loss) per share calculations for the years ended:
202420232022
Denominator for Basic Earnings Per Share66.4 66.3 66.7 
Effect of Dilutive Securities(1)
0.3 — 0.4 
Denominator for Diluted Earnings Per Share66.7 66.3 67.1 
(1) 2023 excludes 0.4 million of share based compensation awards as the Company had a net loss during the year.
Schedule of Accumulated Other Comprehensive Income (Loss)
The components of the ending balances of AOCI are as follows:
 20242023
Foreign Currency Translation Adjustments$(415.7)$(286.2)
Hedging Activities, Net of Tax of $(2.1) in 2024 and $8.8 in 2023
(5.5)28.8 
Pension and Post-Retirement Benefits, Net of Tax of $(6.7) in 2024 and $(7.8) in 2023
(21.5)(25.0)
Total$(442.7)$(282.4)
Schedule of Supplier Finance Program The following information presents changes to the Company's outstanding obligations under the supplier finance program, which are classified within Accounts Payable, during the year ended December 31, 2024:
Balance as of December 31, 2023$60.8 
Plus: Obligations Added169.7 
Less: Obligations Settled189.5 
Balance as of December 31, 2024$41.0