Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Reporting

On January 1, 2022, the Company began management of its portfolio of businesses under a new basis, which was intended to create a simplified reporting structure to provide better focus and allow for resources to be best leveraged for future growth and profitability improvement. As a result, the Company eliminated its Global Adjacent Markets reporting segment.

On June 30, 2022, the Company again began management of its portfolio of businesses under a new basis as a result of the planned divestiture of TAP. As such, the Aftermarket segment was eliminated and the results of the Company’s remaining aftermarket businesses historically included within the Aftermarket segment were reclassified to the Off-Road and On-Road segments. The comparative 2021 segment results were reclassified for comparability.

The Company’s reportable segments are based on the Company’s method of internal reporting and are comprised of various product offerings that serve multiple end markets. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. The internal reporting of these operating segments is defined based, in part, on the reporting and review process used by the Company’s Chief Executive Officer. The Company has three operating segments: 1) Off-Road, 2) On-Road, and 3) Marine which are all reportable segments. The Corporate amounts include revenues and costs of businesses that were divested in 2021, as well as costs that are not allocated to segments, including certain unallocated manufacturing costs. Businesses that are presented as discontinued operations are excluded from the table below.

Segment sales and gross profit data are summarized as follows (in millions):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Sales
Off-Road	$	1,490.4	$	1,397.5	$	2,832.5	$	2,699.3
On-Road	299.4		298.3		527.3		540.6
Marine	273.0		197.6		484.5		396.3
Corporate	—		17.7		—		32.7
Total sales	$	2,062.8	$	1,911.1	$	3,844.3	$	3,668.9
Gross profit
Off-Road	$	354.2	$	382.2	$	612.9	$	727.1
On-Road	53.4		55.3		94.6		90.5
Marine	66.6		47.4		113.1		93.8
Corporate	0.2		12.5		6.7		17.8
Total gross profit	$	474.4	$	497.4	$	827.3	$	929.2