Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 5 - Segment Information

The primary measurement used by management to measure the financial performance of each segment is earnings before interest, taxes, depreciation and amortization ("EBITDA").

	Three Months Ended March 31,
	2021		2020
Net sales:
Mobile Industries	$	504.5	$	466.7
Process Industries	520.9		456.7
Net sales	$	1,025.4	$	923.4
Segment EBITDA:
Mobile Industries	$	79.6	$	75.1
Process Industries	131.0		107.5
Total EBITDA, for reportable segments	$	210.6	$	182.6
Unallocated corporate expense	(11.6)		(11.1)
Corporate pension and other postretirement benefit related expense (1)	(0.9)		—
Acquisition-related gain (2)	0.6		—
Depreciation and amortization	(43.0)		(42.3)
Interest expense	(14.9)		(17.1)
Interest income	0.5		1.5
Income before income taxes	$	141.3	$	113.6

(1) Corporate pension and other postretirement benefit related expense represents actuarial gains and (losses) that resulted from the remeasurement of pension and other postretirement plan assets and obligations as a result of changes in assumptions or experience.

(2) The acquisition-related gain represents measurement period adjustments to the bargain purchase gain on the acquisition of Aurora, which closed on November 30, 2020. See Note 3 - Acquisitions for additional information.