Business Segments

3 Months Ended

Apr. 04, 2015

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The following sets forth certain financial information attributable to the Company's reporting segments as of and for the three months ended April 4, 2015 and March 29, 2014 (in millions):

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions			Eliminations			Total
As of and for Three Months Ended April 4, 2015
External sales	$	456.4	$	280.4	$	174.9		$	—		$	911.7
Intersegment sales	23.9		7.1		1.1			(32.1		)	—
Total sales	480.3		287.5		176.0			(32.1		)	911.7
Gross profit	112.9		63.7		44.3			—			220.9
Operating expenses	79.6		30.3		47.4			—			157.3
Income (loss) from operations	33.3		33.4		(3.1		)	—			63.6
Depreciation and amortization	19.5		7.0		9.4			—			35.9
Capital expenditures	15.7		4.6		0.9			—			21.2
Identifiable assets	2,440.6		880.8		1,646.1			—			4,967.5
As of and for Three Months Ended March 29, 2014
External sales	$	453.5	$	285.1	62.6			$	—		$	801.2
Intersegment sales	16.5		4.1		1.0			(21.6		)	—
Total sales	470.0		289.2		63.6			(21.6		)	801.2
Gross profit	115.7		62.7		16.0			—			194.4
Operating expenses	78.5		36.4		9.8			—			124.7
Income from operations	37.2		26.3		6.2			—			69.7
Depreciation and amortization	18.4		11.5		2.9			—			32.8
Capital expenditures	13.8		5.7		2.8			—			22.3
Identifiable assets	2,702.2		824.7		199.6			—			3,726.5

In the fourth quarter of 2014, the Company reorganized its reportable segments to align with its new management reporting structure and business activities. Prior to this reorganization, the Company was comprised of two reportable segments for financial reporting purposes: Electrical and Mechanical. As a result of this change, the Company is now comprised of three reportable segments: Commercial & Industrial Systems, Climate Solutions and Power Transmission Solutions. Historical financial information has been revised on a basis consistent with these segments.

The Commercial and Industrial Systems segment produces medium and large motors, generators and customer drives, controls and systems. Applications include commercial and industrial equipment, commercial HVAC, pool and spa, standby and critical power and oil and gas systems.

The Climate Solutions segment produces small motors, controls and air moving solutions. Applications include residential and light commercial HVAC, commercial refrigeration and water heaters.

The Power Transmission Solutions segment produces power transmission gearing, hydraulic pump drives, large open gearing and specialty mechanical products. Applications include material handling, industrial equipment, energy and off-road equipment.

The Company evaluates performance based on the segment's income from operations. Corporate costs have been allocated to each segment based on the net sales of each segment. The reported external net sales of each segment are from external customers.