Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table presents details deemed most relevant to the users of the financial statements about total revenue for the three and six months ended June 30, 2024 and 2023:

	Three Months Ended						Three Months Ended
	June 30, 2024						June 30, 2023
	Engineered Bearings		Industrial Motion		Total		Engineered Bearings		Industrial Motion		Total
United States	$	335.9	$	203.5	$	539.4	$	317.6	$	218.8	$	536.4
Americas excluding the United States	96.3		26.5		122.8		96.0		27.9		123.9
Europe / Middle East / Africa	151.0		135.2		286.2		175.6		136.6		312.2
China	80.9		23.0		103.9		156.5		22.9		179.4
Asia-Pacific excluding China	119.3		10.7		130.0		111.5		8.9		120.4
Net sales	$	783.4	$	398.9	$	1,182.3	$	857.2	$	415.1	$	1,272.3
	Six Months Ended						Six Months Ended
	June 30, 2024						June 30, 2023
	Engineered Bearings		Industrial Motion		Total		Engineered Bearings		Industrial Motion		Total
United States	$	671.0	$	396.2	$	1,067.2	$	658.5	$	413.1	$	1,071.6
Americas excluding the United States	191.0		51.1		242.1		188.2		55.8		244.0
Europe / Middle East / Africa	320.5		277.8		598.3		359.5		250.4		609.9
China	152.6		39.3		191.9		314.9		39.2		354.1
Asia-Pacific excluding China	250.8		22.3		273.1		236.8		18.7		255.5
Net sales	$	1,585.9	$	786.7	$	2,372.6	$	1,757.9	$	777.2	$	2,535.1

When reviewing revenue by sales channel, the Company separates net sales to original equipment manufacturers ("OEMs") from sales to distributors and end users. The following table presents the approximate percent of revenue by sales channel for the six months ended June 30, 2024 and 2023:

	Six Months Ended	Six Months Ended
Revenue by sales channel	June 30, 2024	June 30, 2023
Original equipment manufacturers	60%	60%
Distribution/end users	40%	40%

Schedule of Rollforward of Unbilled Receivables and Deferred Revenue

The following table contains a rollforward of unbilled receivables for the six months ended June 30, 2024 and the twelve months ended December 31, 2023:

	June 30, 2024		December 31, 2023
Beginning balance, January 1	$	144.5	$	103.9
Additional unbilled revenue recognized	158.6		424.1
Less: amounts billed to customers	(155.0)		(383.5)
Ending balance	$	148.1	$	144.5

The following table contains a rollforward of deferred revenue for the six months ended June 30, 2024 and the twelve months ended December 31, 2023:

	June 30, 2024		December 31, 2023
Beginning balance, January 1	$	45.4	$	54.3
Acquisitions	—		1.4
Revenue (cash) received in advance	78.8		165.2
Less: revenue recognized	(72.5)		(175.5)
Ending balance	$	51.7	$	45.4