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SEGMENT INFORMATION
 9 Months Ended
Sep. 28, 2019
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION

The Company is comprised of three operating segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
Commercial and Industrial Systems produces medium and large motors, commercial and industrial equipment, alternators, motors and controls and air moving solutions. These products serve markets including commercial HVAC, pool and spa, standby and critical power and oil and gas systems.
Climate Solutions produces small motors, controls and air moving solutions serving markets including residential and light commercial HVAC, water heaters and commercial refrigeration.
Power Transmission Solutions manufactures, sells and services belt and chain drives, helical and worm gearing, mounted and unmounted bearings, couplings, modular plastic belts, conveying chains and components, hydraulic pump drives, large open gearing and specialty mechanical products serving markets including beverage, bulk handling, metals, special machinery, energy, aerospace and general industrial.
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.
The following sets forth certain financial information attributable to the Company's operating segments for the three and nine months ended September 28, 2019 and September 29, 2018 (in millions):
 
Three Months Ended
 
Commercial and Industrial Systems
 
Climate Solutions
 
Power Transmission Solutions
 
Eliminations
 
Total
September 28, 2019
 
 
 
 
 
 
 
 
 
External Sales
$
358.6

 
$
230.9

 
$
182.8

 
$
—

 
$
772.3

Intersegment Sales
11.5

 
4.2

 
1.2

 
(16.9
)
 
—

  Total Sales
370.1

 
235.1

 
184.0

 
(16.9
)
 
772.3

Gross Profit
77.2

 
64.2

 
60.5

 
—

 
201.9

Operating Expenses
62.8

 
26.5

 
39.6

 
—

 
128.9

Loss on Divestiture of Businesses
0.1

 
0.1

 
—

 
—

 
0.2

Income from Operations
14.3

 
37.6

 
20.9

 
—

 
72.8

Depreciation and Amortization
14.8

 
5.1

 
14.0

 
—

 
33.9

Capital Expenditures
11.0

 
6.8

 
3.3

 
—

 
21.1

 
 
 
 
 
 
 
 
 
 
September 29, 2018
 
 
 
 
 
 
 
 
 
External Sales
$
462.3

 
$
255.4

 
$
207.7

 
$
—

 
$
925.4

Intersegment Sales
11.7

 
5.7

 
5.6

 
(23.0
)
 
—

  Total Sales
474.0

 
261.1

 
213.3

 
(23.0
)
 
925.4

Gross Profit
109.8

 
62.1

 
70.7

 
—

 
242.6

Operating Expenses
74.5

 
37.9

 
42.6

 
—

 
155.0

Goodwill Impairment
—

 
9.5

 
—

 
—

 
9.5

Asset Impairments
—

 
8.7

 
—

 
—

 
8.7

Income from Operations
35.3

 
6.0

 
28.1

 
—

 
69.4

Depreciation and Amortization
16.4

 
5.4

 
13.5

 
—

 
35.3

Capital Expenditures
11.3

 
3.6

 
3.8

 
—

 
18.7


 
Nine Months Ended
 
Commercial and Industrial Systems
 
Climate Solutions
 
Power Transmission Solutions
 
Eliminations
 
Total
September 28, 2019


 


 

 

 


External Sales
$
1,140.7

 
$
762.1

 
$
597.0

 
$
—

 
$
2,499.8

Intersegment Sales
42.7

 
13.1

 
3.3

 
(59.1
)
 
—

  Total Sales
1,183.4

 
775.2

 
600.3

 
(59.1
)
 
2,499.8

Gross Profit
259.6

 
209.7

 
201.2

 
—

 
670.5

Operating Expenses
204.0

 
86.2

 
126.1

 
—

 
416.3

(Gain) Loss on Divestiture of Businesses
(39.3
)
 
(6.0
)
 
0.1

 
—

 
(45.2
)
Asset Impairments
7.6

 
1.3

 
1.1

 
—

 
10.0

Income from Operations
87.3

 
128.2

 
73.9

 
—

 
289.4

Depreciation and Amortization
44.3

 
14.5

 
41.6

 
—

 
100.4

Capital Expenditures
42.3

 
19.4

 
15.6

 
—

 
77.3

 
 
 
 
 
 
 
 
 
 
September 29, 2018


 


 

 

 


External Sales
$
1,345.3

 
$
792.6

 
$
626.0

 
$
—

 
$
2,763.9

Intersegment Sales
39.3

 
17.0

 
17.6

 
(73.9
)
 
—

  Total Sales
1,384.6

 
809.6

 
643.6

 
(73.9
)
 
2,763.9

Gross Profit
315.3

 
198.7

 
210.9

 
—

 
724.9

Operating Expenses
220.4

 
98.2

 
130.9

 
—

 
449.5

Goodwill Impairment
—

 
9.5

 
—

 
—

 
9.5

Asset Impairments
—

 
8.7

 
—

 
—

 
8.7

Income from Operations
94.9

 
82.3

 
80.0

 
—

 
257.2

Depreciation and Amortization
49.0

 
16.0

 
41.3

 
—

 
106.3

Capital Expenditures
31.2

 
16.0

 
12.0

 
—

 
59.2


The following table presents identifiable assets information attributable to the Company's operating segments as of September 28, 2019 and December 29, 2018 (in millions):

 
Commercial and Industrial Systems
 
Climate Solutions
 
Power Transmission Solutions
 
Total
Identifiable Assets as of September 28, 2019
$
2,018.7

 
$
899.5

 
$
1,560.1

 
$
4,478.3

Identifiable Assets as of December 29, 2018
$
2,108.0

 
$
907.7

 
$
1,608.1

 
$
4,623.8