Restructuring Activities

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

The Company incurred restructuring and restructuring-related costs on projects during 2025, 2024 and 2023. The Company has initiated restructuring plans to achieve cost synergies from procurement, distribution efficiencies, footprint rationalization and other general cost savings measures. Restructuring costs include employee termination and plant relocation costs. Restructuring-related costs include costs directly associated with actions resulting from the Company's simplification initiatives, such as asset write-downs or accelerated depreciation due to shortened useful lives in connection with site closures, discretionary employment benefit costs and other facility rationalization costs. Restructuring costs for employee termination expenses are generally recognized when the severance liability is determined to be probable of being paid and reasonably estimable while plant relocation costs and related costs are generally required to be expensed as incurred.

The following table presents a reconciliation of provisions and payments for the restructuring projects for 2025 and 2024:

	December 31, 2025		December 31, 2024
Beginning Balance	$	16.3	$	29.1
Provision(1)	24.5		41.3
Less: Payments	32.1		54.1
Ending Balance	$	8.7	$	16.3

(1) Excludes equipment related write-offs and restructuring related depreciation adjustments

The following is a reconciliation of expenses by type for the restructuring projects in 2025, 2024 and 2023:

	2025						2024						2023
Restructuring Costs:	Cost of Sales		Operating Expenses		Total		Cost of Sales		Operating Expenses		Total		Cost of Sales		Operating Expenses		Total
Severance Expense	$	6.0	$	11.7	$	17.7	$	11.2	$	14.7	$	25.9	$	12.1	$	15.2	$	27.3
Facility Related Costs	4.9		2.9		7.8		7.8		1.5		9.3		25.5		0.3		25.8
Other Expenses	0.6		0.2		0.8		6.5		2.4		8.9		7.8		0.6		8.4
Total Restructuring Costs	$	11.5	$	14.8	$	26.3	$	25.5	$	18.6	$	44.1	$	45.4	$	16.1	$	61.5

The following table shows the allocation of Restructuring Expenses by segment for 2025, 2024 and 2023:

	Automation & Motion Control		Industrial Powertrain Solutions		Power Efficiency Solutions		Industrial Systems		Total
Restructuring Expenses - 2025	$	3.0	$	20.1	$	3.2	$	—	$	26.3
Restructuring Expenses - 2024	$	10.1	$	21.7	$	11.3	$	1.0	$	44.1
Restructuring Expenses - 2023	$	3.2	$	27.0	$	30.4	$	0.9	$	61.5

The Company expects to record aggregate future charges of approximately $27.0 million in 2026. The Company continues to evaluate operating efficiencies and anticipates incurring additional costs in future periods in connection with these activities.