Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

Note 4 - Segment Information

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales:
Engineered Bearings	$	740.7	$	775.6	$	2,326.6	$	2,533.5
Industrial Motion	386.1		367.1		1,172.8		1,144.3
Net sales	$	1,126.8	$	1,142.7	$	3,499.4	$	3,677.8
Segment EBITDA:
Engineered Bearings	$	150.0	$	148.2	$	492.0	$	538.7
Industrial Motion	70.9		70.3		223.8		199.4
Total EBITDA, for reportable segments	$	220.9	$	218.5	$	715.8	$	738.1
Unallocated corporate expense	(25.7)		(17.0)		(61.0)		(47.9)
Corporate pension and other postretirement    benefit related (expense) income (1)	—		(0.2)		—		1.7
Depreciation and amortization	(56.1)		(52.2)		(165.6)		(149.0)
Interest expense	(30.3)		(27.5)		(97.1)		(79.9)
Interest income	3.4		2.6		11.3		6.0
Income before income taxes	$	112.2	$	124.2	$	403.4	$	469.0

(1) Corporate pension and other postretirement benefit related income 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.

	September 30, 2024		December 31, 2023
Total Assets by Segment:
Engineered Bearings	$	3,273.4	$	3,296.8
Industrial Motion	3,004.7		2,744.5
Corporate (2)	489.3		500.4
	$	6,767.4	$	6,541.7

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