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SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Effective May 1, 2024, the Company is comprised of three operating segments: Industrial Powertrain Solutions ("IPS"), Power Efficiency Solutions ("PES") and Automation & Motion Control ("AMC").
The IPS segment designs, produces and services a broad portfolio of highly-engineered power transmission products, including mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes and gear
motors, clutches, brakes, and industrial powertrain components and solutions. Increasingly, the segment produces industrial powertrain solutions, which are integrated sub-systems comprised of Regal Rexnord motors plus the critical power transmission components that efficiently transmit motion to power industrial applications. The segment serves a broad range of markets that include general industrial, metals & mining, agricultural and construction, food and beverage, energy, alternative energy and other markets.
The PES segment designs and produces fractional to approximately 5 horsepower AC and DC motors, electronic variable speed controls, electronic drives, fans and blowers, as well as integrated subsystems comprised of two or more of these components. The segment's products are used in residential and light commercial HVAC, water heater, commercial refrigeration, commercial building ventilation, pool and spa, irrigation, dewatering, agriculture and other applications.

The AMC segment designs, produces and services conveyor products, conveying automation subsystems, aerospace components, precision motion control solutions, high-efficiency miniature servo motors, controls, drives and linear actuators, as well as power management products that include automatic transfer switches and paralleling switchgear. The segment sells into markets that include industrial automation, robotics, food and beverage, aerospace, medical, agricultural and construction, general industrial, data center, and other markets.

The Industrial Systems segment designed and produced integral motors, alternators for industrial applications, and sold aftermarket parts and kits to support such products. These products served the general industrial, metals and mining, and food and beverage end markets. As described within Note 3 – Held for Sale, Acquisitions and Divestitures, the sale of the industrial motors and generators business was completed on April 30, 2024 which represented a substantial majority of the Industrial Systems operating segment.

The Company evaluates performance based on the segment's income from operations. Corporate costs have generally been allocated to each segment based on the net sales of each segment.
The following sets forth certain financial information attributable to the Company's operating segments for the three and nine months ended September 30, 2024 and September 30, 2023:
Segment Information
Three Months Ended
September 30, 2024Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsEliminationsTotal
External Sales$644.2 $431.6 $401.6 $— $— $1,477.4 
Intersegment Sales2.0 0.5 4.6 — (7.1)— 
  Total Sales646.2 432.1 406.2 — (7.1)1,477.4 
Gross Profit268.0 131.8 156.5 — — 556.3 
Operating Expenses183.5 73.2 125.5 — — 382.2 
Income from Operations84.5 58.6 31.0 — — 174.1 
Depreciation and Amortization69.8 11.4 46.2 — — 127.4 
Capital Expenditures13.7 8.0 7.6 — — 29.3 
September 30, 2023
External Sales$640.7 $461.3 $419.8 $128.0 $— $1,649.8 
Intersegment Sales3.6 3.1 4.2 0.6 (11.5)— 
  Total Sales644.3 464.4 424.0 128.6 (11.5)1,649.8 
Gross Profit215.8 138.0 161.2 27.2 — 542.2 
Operating Expenses175.1 71.5 117.6 24.7 — 388.9 
Goodwill Impairment— — — 57.3 — 57.3 
Asset Impairments1.3 1.5 0.5 0.4 — 3.7 
Loss on Assets Held for Sale— — — 112.7 — 112.7 
Total Operating Expenses176.4 73.0 118.1 195.1 — 562.6 
Income from Operations39.4 65.0 43.1 (167.9)— (20.4)
Depreciation and Amortization75.9 15.8 46.1 3.1 — 140.9 
Capital Expenditures5.8 8.1 9.8 1.5 — 25.2 
Segment Information
Nine Months Ended
September 30, 2024Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion Control
Industrial Systems(1)
EliminationsTotal
External Sales$1,963.1 $1,227.8 $1,224.0 $157.8 $— $4,572.7 
Intersegment Sales6.7 6.2 13.5 0.5 (26.9)— 
  Total Sales1,969.8 1,234.0 1,237.5 158.3 (26.9)4,572.7 
Gross Profit803.3 352.3 485.6 39.2 — 1,680.4 
Operating Expenses546.7 219.9 371.5 34.6 — 1,172.7 
Asset Impairments0.2 0.2 1.1 — — 1.5 
Loss on Sale of Businesses— — — 4.3 — 4.3 
Total Operating Expenses546.9 220.1 372.6 38.9 — 1,178.5 
Income from Operations256.4 132.2 113.0 0.3 — 501.9 
Depreciation and Amortization210.7 33.6 137.7 0.6 — 382.6 
Capital Expenditures36.8 19.1 20.0 4.3 — 80.2 
September 30, 2023
External Sales$1,753.8 $1,390.9 $1,096.1 $401.7 $— $4,642.5 
Intersegment Sales11.5 10.8 15.3 2.0 (39.6)— 
  Total Sales1,765.3 1,401.7 1,111.4 403.7 (39.6)4,642.5 
Gross Profit617.6 389.5 412.8 84.2 — 1,504.1 
Operating Expenses510.5 217.8 323.7 75.9 — 1,127.9 
Goodwill Impairment— — — 57.3 57.3 
Asset Impairments1.6 1.5 2.6 0.4 6.1 
Loss on Assets Held for Sale— — — 112.7 112.7 
Total Operating Expenses512.1 219.3 326.3 246.3 — 1,304.0 
Income from Operations105.5 170.2 86.5 (162.1)— 200.1 
Depreciation and Amortization191.9 39.3 113.4 9.8 — 354.4 
Capital Expenditures30.9 25.2 27.2 5.4 — 88.7 
(1) Results for the Industrial Systems segment cover the period through the completed sale on April 30, 2024.

The following table presents identifiable assets information attributable to the Company's operating segments as of September 30, 2024 and December 31, 2023:
Industrial Powertrain SolutionsPower Efficiency SolutionsAutomation & Motion ControlIndustrial SystemsTotal
Identifiable Assets as of September 30, 2024$7,726.3 $1,995.7 $4,837.0 $— $14,559.0 
Identifiable Assets as of December 31, 20238,009.4 2,036.4 4,909.2 476.4 15,431.4