OTHER FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounting Standards Update and Change in Accounting Principle

In addition, certain financial statement line items in our Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows for the three months ended April 3, 2021 and our Condensed Consolidated Balance Sheet as of January 1, 2022, were adjusted as follows (dollars in millions):

	As Originally Reported		Effect of Change		As Adjusted
Condensed Consolidated Statement of Operations for the three months ended April 3, 2021
Cost of Sales	$	568.7	$	(4.4)	$	564.3
Provision for Income Taxes	$	20.2	$	1.1	$	21.3
Net income attributable to Regal Rexnord Corporation	$	65.6	$	3.3	$	68.9
Earnings Per Share Attributable to Regal Rexnord Corporation:
Basic	$	1.62	$	0.08	$	1.70
Assuming Dilution	$	1.60	$	0.08	$	1.68
Condensed Consolidated Balance Sheet as of January 1, 2022
Inventories	$	1,106.6	$	85.8	$	1,192.4
Deferred Income Taxes	$	652.0	$	27.7	$	679.7
Retained Earnings	$	1,854.5	$	58.1	$	1,912.6
Condensed Consolidated Statement of Cash Flows for the three months ended April 3, 2021
Net Income	$	67.0	$	3.3	$	70.3
Change in Operating Assets and Liabilities	$	(64.1)	$	(3.3)	$	(67.4)
Condensed Consolidated Statement of Comprehensive Income for the three months ended April 3, 2021
Comprehensive income attributable to Regal Rexnord Corporation	$	50.4	$	3.3	$	53.7

Schedule of Percentage Distribution between Major Classes of Inventory

The following table presents approximate percentage distribution between major classes of inventories inclusive of the accounting method change discussed above:

	March 31, 2022	January 1, 2022
Raw Material and Work in Process	47.8%	43.4%
Finished Goods and Purchased Parts	52.2%	56.6%

Schedule of Property, Plant, and Equipment by Major Classification

The following table presents property, plant, and equipment by major classification (dollars in millions):

	Useful Life in Years	March 31, 2022		January 1, 2022
Land and Improvements		$	108.7	$	109.1
Buildings and Improvements	3 - 50	420.9		449.6
Machinery and Equipment	3 - 15	1,162.9		1,164.8
Property, Plant and Equipment		1,692.5		1,723.5
Less: Accumulated Depreciation		(839.8)		(815.0)
Net Property, Plant and Equipment		$	852.7	$	908.5

Schedule of Disaggregation of Revenue

The following tables presents the Company’s revenues disaggregated by geographical region (in millions):

	Three Months Ended
March 31, 2022	Commercial Systems		Industrial Systems		Climate Solutions		Motion Control Solutions		Total
North America	$	205.9	$	82.4	$	238.5	$	408.5	$	935.3
Asia	42.2		39.4		8.2		34.4		124.2
Europe	32.7		12.3		13.6		98.1		156.7
Rest-of-World	12.5		10.6		13.6		45.6		82.3
Total	$	293.3	$	144.7	$	273.9	$	586.6	$	1,298.5
April 3, 2021	Commercial Systems		Industrial Systems		Climate Solutions		Motion Control Solutions		Total
North America	$	154.1	$	71.1	$	209.7	$	163.8	$	598.7
Asia	46.0		43.2		9.3		6.9		105.4
Europe	24.7		11.6		9.5		23.5		69.3
Rest-of-World	12.2		10.5		10.6		7.4		40.7
Total	$	237.0	$	136.4	$	239.1	$	201.6	$	814.1