Revenue

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

RevenueWe disaggregate our revenue by product line and geographic region of our customer as we believe these metrics best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. See details in the tables below.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In millions)
PRODUCT LINE
Supply Technologies	$	166.3	$	159.1	$	508.2	$	459.5
Engineered specialty fasteners and other products	26.5		26.8		77.7		71.0
Supply Technologies Segment	192.8		185.9		585.9		530.5
Fuel, rubber and plastic products	108.4		101.0		330.8		294.3
Assembly Components Segment	108.4		101.0		330.8		294.3
Industrial equipment	81.4		67.3		253.9		201.1
Forged and machined products	36.2		29.6		99.8		85.4
Engineered Products Segment	117.6		96.9		353.7		286.5
Total revenues	$	418.8	$	383.8	$	1,270.4	$	1,111.3

	Supply Technologies Segment		Assembly Components Segment		Engineered Products Segment		Total Revenues
	(In millions)
Three Months Ended September 30, 2023
GEOGRAPHIC REGION
United States	$	117.7	$	73.0	$	64.2	$	254.9
Europe	37.5		4.2		21.4		63.1
Asia	16.1		8.2		15.3		39.6
Mexico	17.4		13.4		3.0		33.8
Canada	2.9		8.2		10.3		21.4
Other	1.2		1.4		3.4		6.0
Total	$	192.8	$	108.4	$	117.6	$	418.8
Three Months Ended September 30, 2022
GEOGRAPHIC REGION
United States	$	115.1	$	73.0	$	54.8	$	242.9
Europe	29.2		3.7		19.7		52.6
Asia	18.4		6.4		14.1		38.9
Mexico	19.2		10.6		3.4		33.2
Canada	3.2		6.6		4.5		14.3
Other	0.8		0.7		0.4		1.9
Total	$	185.9	$	101.0	$	96.9	$	383.8

	Supply Technologies Segment		Assembly Components Segment		Engineered Products Segment		Total Revenues
	(In millions)
Nine Months Ended September 30, 2023
GEOGRAPHIC REGION
United States	$	358.1	$	236.8	$	201.0	$	795.9
Europe	115.1		13.3		51.9		180.3
Asia	46.5		20.1		51.2		117.8
Mexico	54.1		33.3		11.6		99.0
Canada	10.0		23.7		25.6		59.3
Other	2.1		3.6		12.4		18.1
Total	$	585.9	$	330.8	$	353.7	$	1,270.4
Nine Months Ended September 2022
GEOGRAPHIC REGION
United States	$	324.7	$	214.8	$	165.6	$	705.1
Europe	91.8		12.2		50.2		154.2
Asia	50.2		15.8		39.1		105.1
Mexico	51.9		29.0		11.4		92.3
Canada	9.3		20.6		14.6		44.5
Other	2.6		1.9		5.6		10.1
Total	$	530.5	$	294.3	$	286.5	$	1,111.3

For over time arrangements, contract liabilities primarily relate to advances or deposits received from the Company’s customers before revenue is recognized. These amounts, which totaled $67.9 million and $52.6 million at September 30, 2023 and December 31, 2022, respectively, are recorded in Accrued expenses and other in the Condensed Consolidated Balance Sheets.

For over time arrangements, contract assets primarily relate to revenue recognized in advance of billings to customers under long-term contracts accounted for under percentage of completion. These amounts, which totaled $79.3 million and $56.7 million at September 30, 2023 and December 31, 2022, respectively, are recorded in Other current assets in the Condensed Consolidated Balance Sheets.