Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Wise Financial Performance

Effective January 1, 2023, the Company began operating under new reportable segments. The Company’s two reportable segments are Engineered Bearings and Industrial Motion. Segment results for 2022 have been revised to conform to the 2023 presentation of segments.

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net sales:
Engineered Bearings	$	857.2	$	798.3	$	1,757.9	$	1,570.7
Industrial Motion	415.1		355.4		777.2		707.6
Net sales	$	1,272.3	$	1,153.7	$	2,535.1	$	2,278.3
Segment EBITDA:
Engineered Bearings	$	185.5	$	167.5	$	390.5	$	335.8
Industrial Motion	80.9		65.1		129.1		127.5
Total EBITDA, for reportable segments	$	266.4	$	232.6	$	519.6	$	463.3
Unallocated corporate expense	(13.2)		(13.4)		(30.9)		(26.3)
Corporate pension and other postretirement      benefit related income (expense) (1)	1.0		(11.6)		1.9		(14.2)
Depreciation and amortization	(51.2)		(40.7)		(96.8)		(82.1)
Interest expense	(28.3)		(18.3)		(52.4)		(32.6)
Interest income	1.9		1.0		3.4		1.6
Income before income taxes	$	176.6	$	149.6	$	344.8	$	309.7

(1) Corporate pension and other postretirement benefit related income (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.

	June 30, 2023		December 31, 2022
Assets by Segment:
Engineered Bearings	$	3,387.3	$	3,270.3
Industrial Motion	2,435.7		2,070.1
Corporate (2)	428.3		432.0
	$	6,251.3	$	5,772.4

(2) Corporate assets include corporate buildings and cash and cash equivalents.