SEGMENT INFORMATION

9 Months Ended

Sep. 26, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company is comprised of four operating segments: Commercial Systems, Industrial Systems, Climate Solutions and Power Transmission Solutions.

Commercial Systems segment produces fractional to approximately 5 horsepower AC and DC motors, electronic variable speed controls, fans, and blowers for commercial applications. These products serve markets including commercial building ventilation and HVAC, pool and spa, irrigation, dewatering, agriculture, and general commercial equipment.

Industrial Systems segment produces integral motors, generators, alternators and switchgear for industrial applications, along with aftermarket parts and kits to support such products. These products serve markets including agriculture, marine, mining, oil and gas, food and beverage, data centers, healthcare, prime and standby power, and general industrial equipment.

Climate Solutions segment produces small motors, electronic variable speed controls and air moving solutions serving markets including residential and light commercial HVAC, water heaters and commercial refrigeration.

Power Transmission Solutions segment produces, 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 26, 2020 and September 28, 2019 (in millions):

	Three Months Ended
September 26, 2020	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
External Sales	$	218.5	$	138.8	$	234.0	$	166.9	$	—	$	758.2
Intersegment Sales	14.5		7.4		4.6		0.6		(27.1)		—
Total Sales	233.0		146.2		238.6		167.5		(27.1)		758.2
Gross Profit	61.4		31.2		69.1		59.9		—		221.6
Operating Expenses	36.1		24.6		29.9		41.0		—		131.6
Total Operating Expenses	36.1		24.6		29.9		41.0		—		131.6
Income from Operations	25.3		6.6		39.2		18.9		—		90.0
Depreciation and Amortization	7.9		6.0		5.0		14.0		—		32.9
Capital Expenditures	3.2		1.7		1.8		2.6		—		9.3
September 28, 2019
External Sales	$	214.8	$	143.8	$	230.9	$	182.8	$	—	$	772.3
Intersegment Sales	10.8		8.0		4.2		1.2		(24.2)		—
Total Sales	225.6		151.8		235.1		184.0		(24.2)		772.3
Gross Profit	53.5		23.7		64.2		60.5		—		201.9
Operating Expenses	36.8		26.0		26.5		39.6		—		128.9
Loss on Divestitures	0.1		—		0.1		—		—		0.2
Total Operating Expenses	36.9		26.0		26.6		39.6		—		129.1
Income (Loss) from Operations	16.6		(2.3)		37.6		20.9		—		72.8
Depreciation and Amortization	8.3		6.5		5.1		14.0		—		33.9
Capital Expenditures	6.8		4.2		6.8		3.3		—		21.1

	Nine Months Ended
September 26, 2020	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations		Total
External Sales	$	593.8	$	389.0	$	622.3	$	521.4	$	—	$	2,126.5
Intersegment Sales	43.2		23.2		13.0		1.9		(81.3)		—
Total Sales	637.0		412.2		635.3		523.3		(81.3)		2,126.5
Gross Profit	154.5		78.7		175.9		186.1		—		595.2
Operating Expenses	107.8		69.2		85.9		122.2		—		385.1
Gain on Divestiture of Businesses	(0.1)		—		—		—		—		(0.1)
Asset Impairments	2.8		0.2		1.3		—		—		4.3
Total Operating Expenses	110.5		69.4		87.2		122.2		—		389.3
Income from Operations	44.0		9.3		88.7		63.9		—		205.9
Depreciation and Amortization	24.5		17.9		14.7		41.7		—		98.8
Capital Expenditures	8.5		6.0		8.0		7.2		—		29.7
September 28, 2019
External Sales	$	703.3	$	437.4	$	762.1	$	597.0	$	—	$	2,499.8
Intersegment Sales	34.7		27.8		13.1		3.3		(78.9)		—
Total Sales	738.0		465.2		775.2		600.3		(78.9)		2,499.8
Gross Profit	184.3		75.3		209.7		201.2		—		670.5
Operating Expenses	121.8		82.2		86.2		126.1		—		416.3
(Gain) Loss on Divestiture of Businesses	(39.4)		0.1		(6.0)		0.1		—		(45.2)
Asset Impairments	6.7		0.9		1.3		1.1		—		10.0
Total Operating Expenses	89.1		83.2		81.5		127.3		—		381.1
Income (Loss) from Operations	95.2		(7.9)		128.2		73.9		—		289.4
Depreciation and Amortization	26.1		18.2		14.5		41.6		—		100.4
Capital Expenditures	24.2		18.1		19.4		15.6		—		77.3

The following table presents identifiable assets information attributable to the Company's operating segments as of September 26, 2020 and December 28, 2019 (in millions):

	Commercial Systems		Industrial Systems		Climate Solutions		Power Transmission Solutions		Total
Identifiable Assets as of September 26, 2020	$	1,258.2	$	826.1	$	876.4	$	1,518.7	$	4,479.4
Identifiable Assets as of December 28, 2019	$	1,198.5	$	802.8	$	878.3	$	1,551.1	$	4,430.7