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OTHER FINANCIAL INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Disaggregation of Revenue
The following tables presents the Company’s revenues disaggregated by geographical region:
Three Months Ended
March 31, 2024Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
North America$406.9 $296.9 $263.2 $58.8 $1,025.8 
Asia35.7 37.8 21.1 34.0 128.6 
Europe150.0 34.6 95.8 13.4 293.8 
Rest-of-World50.8 16.0 20.1 12.6 99.5 
Total$643.4 $385.3 $400.2 $118.8 $1,547.7 
March 31, 2023Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
North America$293.2 $367.4 $141.8 $73.7 $876.1 
Asia16.5 43.8 1.4 36.7 98.4 
Europe52.8 42.7 43.8 15.6 154.9 
Rest-of-World51.9 15.6 16.2 11.0 94.7 
Total$414.4 $469.5 $203.2 $137.0 $1,224.1 
Schedule of Percentage Distribution between Major Classes of Inventory
The following table presents approximate percentage distribution between major classes of inventories:
March 31, 2024December 31, 2023
Raw Material and Work in Process67.4%66.7%
Finished Goods and Purchased Parts32.6%33.3%
Schedule of Property, Plant, and Equipment by Major Classification
The following table presents property, plant, and equipment by major classification:
Useful Life in YearsMarch 31, 2024December 31, 2023
Land and Improvements$132.7 $139.2 
Buildings and Improvements
3 - 50
389.2 414.5 
Machinery and Equipment
3 - 15
1,221.5 1,219.4 
Property, Plant and Equipment1,743.4 1,773.1 
Less: Accumulated Depreciation(749.4)(731.9)
Net Property, Plant and Equipment$994.0 $1,041.2