Business Segments

9 Months Ended

Oct. 03, 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 and nine months ended October 3, 2015 and September 27, 2014 (in millions):

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Three Months Ended October 3, 2015
External sales	$	426.8	$	264.4	$	191.1	$	—		$	882.3
Intersegment sales	14.4		6.0		0.8		(21.2		)	—
Total sales	441.2		270.4		191.9		(21.2		)	882.3
Gross profit	110.3		70.8		60.0		—			241.1
Total operating expenses	71.6		30.1		39.3		—			141.0
Income from operations	38.8		40.7		20.6		—			100.1
Depreciation and amortization	19.6		7.1		15.3		—			42.0
Capital expenditures	10.4		4.6		5.7		—			20.7
Identifiable assets	2,380.2		888.2		1,610.0		—			4,878.4
As of and for Three Months Ended September 27, 2014
External sales	$	472.3	$	290.0	67.5		$	—		$	829.8
Intersegment sales	21.5		4.4		1.5		(27.4		)	—
Total sales	493.8		294.4		69.0		(27.4		)	829.8
Gross profit	117.6		67.9		18.3		—			203.8
Total operating expenses	83.9		34.9		10.3		—			129.1
Income from operations	33.6		33.1		8.0		—			74.7
Depreciation and amortization	21.4		11.0		3.2		—			35.6
Capital expenditures	13.7		2.4		1.5		—			17.6
Identifiable assets	2,598.8		886.7		185.9		—			3,671.4

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Nine Months Ended October 3, 2015
External sales	$	1,324.2	$	830.9	$	581.1	$	—		$	2,736.2
Intersegment sales	60.7		18.9		3.1		(82.7		)	—
Total sales	1,384.9		849.8		584.2		(82.7		)	2,736.2
Gross profit	336.8		207.5		169.1		—			713.4
Total operating expenses	223.2		89.7		133.6		—			446.5
Income from operations	113.6		117.8		35.5		—			266.9
Depreciation and amortization	58.4		21.7		40.0		—			120.1
Capital expenditures	38.5		13.3		13.6		—			65.4
Identifiable assets	2,380.2		888.2		1,610.0		—			4,878.4
As of and for Nine Months Ended September 27, 2014
External sales	$	1,404.8	$	878.6	198.0		$	—		$	2,481.4
Intersegment sales	38.0		8.5		2.5		(49.0		)	—
Total sales	1,442.8		887.1		200.5		(49.0		)	2,481.4
Gross profit	357.9		199.2		52.1		—			609.2
Total operating expenses	240.2		106.6		30.3		—			377.1
Income from operations	117.8		92.5		21.8		—			232.1
Depreciation and amortization	60.2		34.3		9.1		—			103.6
Capital expenditures	42.0		12.9		5.6		—			60.5
Identifiable assets	2,598.8		886.7		185.9		—			3,671.4

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.