Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Segment Wise Financial Performance

Effective January 1, 2023, the Company began operating under new reportable segments. The Company’s two reportable segments are Engineered Bearings and Industrial Motion. Segment results for 2022 have been revised to conform to the 2023 presentation of segments.


	Three Months Ended March 31,
		2023		2022
Net sales:
Engineered Bearings		$	900.7	$	772.4
Industrial Motion		362.1		352.2
Net sales		$	1,262.8	$	1,124.6
Segment EBITDA:
Engineered Bearings		$	205.0	$	168.3
Industrial Motion		48.2		62.4
Total EBITDA, for reportable segments		$	253.2	$	230.7
Unallocated corporate expense		(17.7)		(12.9)
Corporate pension and other postretirement benefit related income (expense) (1)		0.9		(2.6)

Depreciation and amortization		(45.6)		(41.4)
Interest expense		(24.1)		(14.3)
Interest income		1.5		0.6
Income before income taxes		$	168.2	$	160.1

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


	March 31, 2023		December 31, 2022
Assets by Segment:
Engineered Bearings	$	3,384.3	$	3,270.3
Industrial Motion	2,044.4		2,070.1
Corporate (2)	424.3		432.0
	$	5,853.0	$	5,772.4

(2) Corporate assets include corporate buildings and cash and cash equivalents.