Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment wise financial performance

The primary measurement used by management to measure the financial performance of each segment is earnings before interest, taxes, depreciation and amortization ("EBITDA").

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net sales:
Mobile Industries	$	494.2	$	342.6	$	998.7	$	809.3
Process Industries	568.7		460.9		1,089.6		917.6
Net sales	$	1,062.9	$	803.5	$	2,088.3	$	1,726.9
Segment EBITDA:
Mobile Industries	$	67.3	$	38.8	$	146.9	$	113.9
Process Industries	141.2		126.3		272.2		233.8
Total EBITDA, for reportable segments	$	208.5	$	165.1	$	419.1	$	347.7
Unallocated corporate expense	(11.6)		(6.5)		(23.2)		(17.6)
Corporate pension and other postretirement benefit    related expense (1)	(3.5)		(8.8)		(4.4)		(8.8)
Acquisition-related gain (2)	—		—		0.6		—
Depreciation and amortization	(42.2)		(41.7)		(85.2)		(84.0)
Interest expense	(15.3)		(18.9)		(30.2)		(36.0)
Interest income	0.7		0.6		1.2		2.1
Income before income taxes	$	136.6	$	89.8	$	277.9	$	203.4

(1) Corporate pension and other postretirement benefit related expense represents actuarial gains and (losses) that resulted from the remeasurement of pension and other postretirement plan assets and obligations as a result of changes in assumptions or experience.

(2) The acquisition-related gain represents measurement period adjustments to the bargain purchase gain on the acquisition of Aurora, which closed on November 30, 2020. See Note 3 - Acquisitions for additional information.