Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Financial Information and a Reconciliation of Segment

The following tables provide segment financial information and a reconciliation of segment results to consolidated results for the year ended December 31, 2024:

	Engineered Bearings		Industrial Motion		Total
Net sales	$	3,034.3	$	1,538.7	$	4,573.0
Cost of products sold(1)	(2,106.9)		(1,008.5)
Selling, general and administrative expenses(2)	(419.3)		(269.1)
Other segment items(3)	4.5		(0.1)
Depreciation and amortization(4)	95.6		45.5
Adjusted EBITDA for reportable segments	$	608.2	$	306.5	$	914.7
Unallocated corporate expense					(69.9)
Impairment, restructuring and reorganization charges					(17.8)
Corporate pension and other postretirement benefit income					1.3
Acquisition-related charges					(13.0)
Tax indemnification and related items					1.1
Gain on divestitures and sale of certain assets					14.7
CEO succession expenses					(3.7)
Property losses and related expenses					(1.2)
Depreciation and amortization					(221.8)
Interest expense					(125.1)
Interest income					14.9
Income before income taxes					$	494.2

Year ended December 31, 2023:

	Engineered Bearings		Industrial Motion		Total
Net sales	$	3,257.7	$	1,511.3	$	4,769.0
Cost of products sold(1)	(2,246.0)		(979.7)
Selling, general and administrative expenses(2)	(425.4)		(253.0)
Other segment items(3)	4.2		(0.1)
Depreciation and amortization(4)	92.1		41.3
Adjusted EBITDA for reportable segments	$	682.6	$	319.8	$	1,002.4
Unallocated corporate expense					(62.7)
Impairment, restructuring and reorganization charges					(59.3)
Corporate pension and other postretirement benefit expense					(20.6)
Acquisition-related charges					(31.8)
Gain on divestitures and sale of certain assets					5.2
Depreciation and amortization					(201.3)
Interest expense					(110.7)
Interest income					9.3
Income before income taxes					$	530.5

Note 4 - Segment Information (continued)

Year ended December 31, 2022:

	Engineered Bearings		Industrial Motion		Total
Net sales	$	3,092.6	$	1,404.1	$	4,496.7
Cost of products sold(1)	(2,184.7)		(962.8)
Selling, general and administrative expenses(2)	(368.1)		(213.6)
Other segment items(3)	14.7		1.0
Depreciation and amortization(4)	84.0		35.0
Adjusted EBITDA for reportable segments	$	638.5	$	263.7	$	902.2
Unallocated corporate expense					(46.3)
Impairment, restructuring and reorganization charges					(55.1)
Corporate pension and other postretirement benefit expense					(2.9)
Acquisition-related charges					(14.8)
Tax indemnification and related items					(0.3)
Gain on divestitures and sale of certain assets					2.9
Depreciation and amortization					(164.0)
Interest expense					(74.6)
Interest income					3.8
Income before income taxes					$	550.9

(1) Cost of products sold exclude acquisition-related and reorganization charges, and property losses and related expenses.

(2) Selling, general, and administrative expenses exclude acquisition-related charges.

(3) Other segments items is Other (expense) income, net and exclude gain on divestitures and sale of certain assets, and tax indemnification and

related items.

(4) Depreciation and amortization excludes acquisition intangible amortization and depreciation recognized in reorganization charges, if any.

	2024		2023
Assets employed at year-end:
Engineered Bearings	$	3,126.1	$	3,296.8
Industrial Motion	2,822.6		2,744.5
Corporate (5)	462.3		500.4
	$	6,411.0	$	6,541.7

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

	2024		2023		2022
Capital expenditures:
Engineered Bearings	$	120.3	$	140.7	$	143.8
Industrial Motion	49.1		46.2		33.2
Corporate	0.6		0.9		1.4
	$	170.0	$	187.8	$	178.4
Depreciation and amortization:
Engineered Bearings	$	108.6	$	107.2	$	87.6
Industrial Motion	111.6		92.7		74.8
Corporate	1.6		1.4		1.6
	$	221.8	$	201.3	$	164.0

Schedule of Geographic Financial Information

Geographic Financial Information:

	2024		2023
Property, Plant and Equipment, net:
United States	$	470.0	$	446.3
China	264.5		278.8
India	174.2		146.2
Rest of world	398.2		440.6
	$	1,306.9	$	1,311.9