Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net sales:
Engineered Bearings	$	775.6	$	779.7	$	2,533.5	$	2,350.4
Industrial Motion	367.1		356.7		1,144.3		1,064.3
Net sales	$	1,142.7	$	1,136.4	$	3,677.8	$	3,414.7
Segment EBITDA:
Engineered Bearings	$	148.2	$	150.4	$	538.7	$	486.2
Industrial Motion	70.3		34.9		199.4		162.4
Total EBITDA, for reportable segments	$	218.5	$	185.3	$	738.1	$	648.6
Unallocated corporate expense	(17.0)		(9.1)		(47.9)		(35.4)
Corporate pension and other postretirement benefit related (expense) income (1)	(0.2)		(1.0)		1.7		(15.2)

Depreciation and amortization	(52.2)		(39.9)		(149.0)		(122.0)
Interest expense	(27.5)		(19.3)		(79.9)		(51.9)
Interest income	2.6		1.1		6.0		2.7
Income before income taxes	$	124.2	$	117.1	$	469.0	$	426.8

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


	September 30, 2023		December 31, 2022
Assets by Segment:
Engineered Bearings	$	3,283.8	$	3,270.3
Industrial Motion	2,511.9		2,070.1
Corporate (2)	449.0		432.0
	$	6,244.7	$	5,772.4

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