Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

The following sets forth certain financial information attributable to the Company's operating segments for the year ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively:


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Eliminations		Total
December 31, 2024
Total Sales	$	2,614.1	$	1,656.5	$	1,652.8	$	158.3	$	(47.9)	$	6,033.8
Intersegment Sales	16.0		12.4		19.0		0.5		(47.9)		—
Net Sales(1)	2,598.1		1,644.1		1,633.8		157.8		—		6,033.8
Adjusted Cost of Sales(2)	1,541.5		1,171.4		1,024.5		118.4				3,855.8
Adjusted Engineering, Selling and Administration Expenses(3)	483.1		273.2		342.9		29.0				1,128.2
Other Segment Items(4)	250.8		36.9		122.0		10.1				419.8
Income from Operations	322.7		162.6		144.4		0.3		—		630.0
Interest Expense											399.7
Interest Income											(18.8)
Other Expense, Net											1.1
Income before Taxes											248.0

Other Supplemental Disclosures
Amortization	201.5		7.7		137.1		0.2		—		346.5
Depreciation	80.7		37.0		47.2		0.4				165.3
Other significant noncash items:

Asset Impairment	1.1		1.1		1.8		—		—		4.0
Loss on Sale of Businesses	1.7		1.4		1.1		4.3		—		8.5
Capital Expenditures	50.3		25.0		29.9		4.3		—		109.5


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Eliminations		Total
December 31, 2023
Total Sales	$	2,418.4	$	1,826.6	$	1,537.7	$	524.1	$	(56.1)	$	6,250.7
Intersegment Sales	14.9		17.7		20.9		2.6		(56.1)		—
Net Sales(1)	2,403.5		1,808.9		1,516.8		521.5		—		6,250.7
Adjusted Cost of Sales(2)	1,516.9		1,293.4		950.7		414.1		—		4,175.1
Adjusted Engineering, Selling and Administration Expenses(3)	433.2		279.5		291.1		84.8		—		1,088.6
Other Segment Items(4)	301.6		18.6		136.0		153.7		—		609.9
Income (Loss) from Operations	151.8		217.4		139.0		(131.1)		—		377.1
Interest Expense											431.0
Interest Income											(43.6)
Other Income, Net											(8.7)
Loss before Taxes											(1.6)

Other Supplemental Disclosures
Amortization	181.4		8.3		117.2		0.9		—		307.8
Depreciation	91.8		43.0		41.0		9.2		—		185.0
Other significant noncash items:
Goodwill Impairment	—		—		—		57.3		—		57.3
Asset Impairments	2.5		1.5		3.4		0.4		—		7.8
Loss on Sale of Businesses	—		—		—		87.7		—		87.7
Capital Expenditures	41.3		35.0		34.6		8.2		—		119.1



	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Eliminations		Total
December 31, 2022
Total Sales	$	1,673.6	$	2,237.6	$	788.1	$	554.0	$	(35.4)	$	5,217.9
Intersegment Sales	7.3		10.4		15.8		1.9		(35.4)		—
Net Sales(1)	1,666.3		2,227.2		772.3		552.1		—		5,217.9
Adjusted Cost of Sales(2)	997.7		1,610.0		498.7		422.7		—		3,529.1
Adjusted Engineering, Selling and Administration Expenses(3)	276.4		269.0		131.1		84.2		—		760.7
Other Segment Items(4)	150.0		21.3		64.3		2.1		—		237.7
Income from Operations	242.2		326.9		78.2		43.1		—		690.4
Interest Expense											87.2
Interest Income											(5.2)
Other Income, Net											(5.4)
Income before Taxes											613.8

Other Supplemental Disclosures
Amortization	119.5		8.4		56.8		0.8		—		185.5
Depreciation	49.5		38.5		21.2		12.7		—		121.9
Other significant noncash items:

Asset Impairment	0.9		—		—		—		—		0.9

Capital Expenditures	18.8		41.9		11.2		11.9		—		83.8

(1) Represents revenues from external customers.

(2) Adjusted Cost of Sales includes costs associated with producing goods for sale, such as materials, labor and overhead costs, and intercompany cost of sales. Adjusted Cost of Sales differs from Cost of Sales reported under US GAAP primarily because it includes intercompany cost of sales and excludes certain costs, primarily restructuring and related expenses. The difference is included in Other Segment Items.

(3) Adjusted Engineering, Selling and Administration Expenses includes operating expenses such as engineering, selling and administration expenses, as well as hedging, foreign currency gains and losses and certain overhead expenses. Adjusted Engineering, Selling and Administration Expenses differs from Operating Expenses reported under US GAAP primarily because it excludes costs such as significant noncash items, restructuring and related costs, and transaction and integration related costs. The difference is included in Other Segment Items.

(4) Other Segment Items includes other significant noncash items, intangible amortization, as well as restructuring and related costs, transaction and integration related costs, certain overhead expenses and the elimination of intercompany cost of sales.

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


	Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems		Total
Identifiable Assets as of December 31, 2024	$	7,528.8	$	1,862.5	$	4,642.4	$	—	$	14,033.7
Identifiable Assets as of December 31, 2023	8,009.4		2,036.4		4,909.2		476.4		15,431.4

Schedule of Financial Information Attributable To Geographic Regions

The following sets forth net sales by country in which the Company operates for 2024, 2023 and 2022, respectively:


	Net Sales
	2024		2023		2022
US	$	3,644.0	$	3,840.4	$	3,332.5
Rest of the World	2,389.8		2,410.3		1,885.4
Total	$	6,033.8	$	6,250.7	$	5,217.9

The following sets forth net property, plant and equipment by country in which the Company operates for 2024 and 2023, respectively:


	Net Property, Plant and Equipment
	2024		2023
US	$	411.9	$	441.1
Mexico	154.2		203.8
Germany	92.7		113.0
China	50.9		45.8

Rest of the World	211.3		237.5
Total	$	921.0	$	1,041.2