Restructuring Activities (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve

The following is a reconciliation of provisions and payments for the restructuring projects for 2024 and 2023:

	December 31, 2024		December 31, 2023
Beginning Balance	$	29.1	$	15.1
Acquisition(1)	—		0.2
Provision(2)	41.3		42.2
Less: Payments	54.1		28.4
Ending Balance	$	16.3	$	29.1

(1) Excludes $12.4 million of severance related to the Altra Transaction, which was paid in the second quarter 2023.

(2) Excludes equipment related write-offs and restructuring related depreciation adjustments. The twelve month period ended December 31, 2023 excludes $19.3 million of accelerated depreciation.

Schedule of Restructuring and Related Costs

The following is a reconciliation of expenses by type for the restructuring projects in 2024, 2023 and 2022:

	2024						2023						2022
Restructuring Costs:	Cost of Sales		Operating Expenses		Total		Cost of Sales		Operating Expenses		Total		Cost of Sales		Operating Expenses		Total
Severance Expense	$	11.2	$	14.7	$	25.9	$	12.1	$	15.2	$	27.3	$	25.1	$	6.4	$	31.5
Facility Related Costs	7.8		1.5		9.3		25.5		0.3		25.8		13.5		1.1		14.6
Other Expenses	6.5		2.4		8.9		7.8		0.6		8.4		0.3		0.4		0.7
Total Restructuring Costs	$	25.5	$	18.6	$	44.1	$	45.4	$	16.1	$	61.5	$	38.9	$	7.9	$	46.8

The following table shows the allocation of Restructuring Expenses by segment for 2024, 2023 and 2022:

	Total		Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems
Restructuring Expenses - 2024	$	44.1	$	21.7	$	11.3	$	10.1	$	1.0
Restructuring Expenses - 2023	$	61.5	$	27.0	$	30.4	$	3.2	$	0.9
Restructuring Expenses - 2022	$	46.8	$	11.8	$	19.4	$	14.1	$	1.5