Business Segments

6 Months Ended

Jul. 02, 2016

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 six months ended July 2, 2016 and July 4, 2015 (in millions):

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Three Months Ended July 2, 2016
External sales	$	394.7	$	254.5	$	189.4	$	—		$	838.6
Intersegment sales	11.4		7.0		1.1		(19.5		)	—
Total sales	406.1		261.5		190.5		(19.5		)	838.6
Gross profit	96.2		64.7		62.0		—			222.9
Operating expenses	71.1		28.6		31.8		—			131.5
Income from operations	25.1		36.1		30.2		—			91.4
Depreciation and amortization	19.2		6.5		13.2		—			38.9
Capital expenditures	9.6		3.6		3.6		—			16.8
Identifiable assets	1,937.1		947.4		1,656.1		—			4,540.6
As of and for Three Months Ended July 4, 2015
External sales	$	441.0	$	286.1	215.1		$	—		$	942.2
Intersegment sales	22.4		5.8		1.2		(29.4		)	—
Total sales	463.4		291.9		216.3		(29.4		)	942.2
Gross profit	113.6		73.0		64.8		—			251.4
Operating expenses	72.1		29.3		46.8		—			148.2
Income from operations	41.5		43.7		18.0		—			103.2
Depreciation and amortization	19.3		7.6		15.3		—			42.2
Capital expenditures	12.4		4.1		7.0		—			23.5
Identifiable assets	2,424.8		900.8		1,639.4		—			4,965.0

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Six Months Ended July 2, 2016
External sales	$	772.3	$	494.3	$	390.2	$	—		$	1,656.8
Intersegment sales	22.7		12.2		2.0		(36.9		)	—
Total sales	795.0		506.5		392.2		(36.9		)	1,656.8
Gross profit	189.8		120.9		129.6		—			440.3
Operating expenses	143.0		60.2		76.4		—			279.6
Income from operations	46.8		60.7		53.2		—			160.7
Depreciation and amortization	38.9		12.7		27.4		—			79.0
Capital expenditures	16.9		7.5		7.3		—			31.7
Identifiable assets	1,937.1		947.4		1,656.1		—			4,540.6
As of and for Six Months Ended July 4, 2015
External sales	$	897.4	$	566.5	390.0		$	—		$	1,853.9
Intersegment sales	46.3		12.9		2.3		(61.5		)	—
Total sales	943.7		579.4		392.3		(61.5		)	1,853.9
Gross profit	226.5		136.7		109.1		—			472.3
Operating expenses	151.7		59.6		94.2		—			305.5
Income from operations	74.8		77.1		14.9		—			166.8
Depreciation and amortization	38.8		14.6		24.7		—			78.1
Capital expenditures	28.1		8.7		7.9		—			44.7
Identifiable assets	2,424.8		900.8		1,639.4		—			4,965.0

The Commercial and Industrial Systems segment produces medium and large electric motors, power generation products, high-performance drives and controls, and starters. Applications include general commercial and industrial equipment, commercial HVAC, power generation, and oil and gas.

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 each 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.