Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill for the six months ended June 30, 2023 were as follows:

	Engineered Bearings		Industrial Motion		Total
Beginning balance	$	679.8	$	418.5	$	1,098.3
Acquisitions	—		121.3		121.3
Impairment loss	—		(28.3)		(28.3)
Foreign currency translation adjustments and other changes	2.6		4.5		7.1
Ending balance	$	682.4	$	516.0	$	1,198.4

Schedule of Finite-Lived Intangible Assets

The following table displays intangible assets as of June 30, 2023 and December 31, 2022:

	Balance at June 30, 2023						Balance at December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Customer relationships	$	655.8	$	(201.3)	$	454.5	$	561.5	$	(183.2)	$	378.3
Technology and know-how	301.2		(90.1)		211.1		273.1		(80.4)		192.7
Trade names	50.6		(9.8)		40.8		18.4		(8.7)		9.7
Capitalized software	290.0		(267.0)		23.0		288.4		(266.3)		22.1
Other	7.6		(5.4)		2.2		3.3		(2.3)		1.0
	$	1,305.2	$	(573.6)	$	731.6	$	1,144.7	$	(540.9)	$	603.8
Intangible assets not subject to amortization:
Trade names	$	135.8			$	135.8	$	152.8			$	152.8
FAA air agency certificates	8.7				8.7		8.7				8.7
	$	144.5			$	144.5	$	161.5			$	161.5
Total intangible assets	$	1,449.7	$	(573.6)	$	876.1	$	1,306.2	$	(540.9)	$	765.3

Schedule of Indefinite-Lived Intangible Assets

The following table displays intangible assets as of June 30, 2023 and December 31, 2022:

	Balance at June 30, 2023						Balance at December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Customer relationships	$	655.8	$	(201.3)	$	454.5	$	561.5	$	(183.2)	$	378.3
Technology and know-how	301.2		(90.1)		211.1		273.1		(80.4)		192.7
Trade names	50.6		(9.8)		40.8		18.4		(8.7)		9.7
Capitalized software	290.0		(267.0)		23.0		288.4		(266.3)		22.1
Other	7.6		(5.4)		2.2		3.3		(2.3)		1.0
	$	1,305.2	$	(573.6)	$	731.6	$	1,144.7	$	(540.9)	$	603.8
Intangible assets not subject to amortization:
Trade names	$	135.8			$	135.8	$	152.8			$	152.8
FAA air agency certificates	8.7				8.7		8.7				8.7
	$	144.5			$	144.5	$	161.5			$	161.5
Total intangible assets	$	1,449.7	$	(573.6)	$	876.1	$	1,306.2	$	(540.9)	$	765.3