v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information
Note 4 - Segment Information
The Company operates under two reportable segments: (1) Engineered Bearings and (2) Industrial Motion. The Company's Chief Operating Decision Maker ("CODM") is the President and Chief Executive Officer ("CEO"). The primary measurement used by the CODM to measure the financial performance of each segment is adjusted EBITDA. The Company's CODM evaluates financial performance and allocates resources based on return on capital and profitable growth. The CODM considers actual and budgeted results provided on a regular basis for both segment's profit measures when making decisions about allocating capital and personnel to the segments.
The following tables provide segment financial information and a reconciliation of segment results to consolidated results for the three months ended March 31, 2025:
Engineered BearingsIndustrial MotionTotal
Net sales$760.7 $379.6 $1,140.3 
Cost of products sold (1)
(523.3)(256.6)
Selling, general and administrative expenses (2)
(102.5)(68.0)
Other segment items (3)
0.7 — 
Depreciation and amortization (4)
23.6 12.1 
Adjusted EBITDA for reportable segments$159.2 $67.1 $226.3 
Unallocated corporate expense(18.2)
Impairment, restructuring and reorganization charges(3.1)
Gain on sale of certain assets1.2 
CEO succession expenses(8.6)
Depreciation and amortization(55.1)
Interest expense(26.5)
Interest income2.3 
Income before income taxes$118.3 
For the three months ended March 31, 2024:
Engineered BearingsIndustrial MotionTotal
Net sales$802.5 $387.8 $1,190.3 
Cost of products sold (1)
(540.8)(245.5)
Selling, general and administrative expenses (2)
(105.9)(70.9)
Other segment items (3)
1.8 (0.1)
Depreciation and amortization (4)
23.8 10.8 
Adjusted EBITDA for reportable segments$181.4 $82.1 $263.5 
Unallocated corporate expense(17.1)
Impairment, restructuring and reorganization charges(4.4)
Acquisition-related charges(4.7)
Gain on sale of certain assets0.7 
Depreciation and amortization(55.3)
Interest expense(32.2)
Interest income2.8 
Income before income taxes$153.3 
(1) Cost of products sold exclude acquisition-related and reorganization charges.
(2) Selling, general, and administrative expenses exclude acquisition-related charges and CEO succession expenses.
(3) Other segments items is Other (expense) income, net and exclude gain on sale of certain assets.
(4) Depreciation and amortization excludes acquisition intangible amortization and depreciation recognized in reorganization charges, if any.
Note 4 - Segment Information (continued)
The following tables provides additional segment financial information:
March 31,
2025		December 31, 2024
Assets by Segment:
Engineered Bearings$3,236.5 $3,126.1 
Industrial Motion2,878.0 2,822.6 
Corporate (5)
455.9 462.3 
 $6,570.4 $6,411.0 
(5) Corporate assets include corporate buildings and cash and cash equivalents.
Three Months Ended
March 31,
20252024
Capital expenditures:
Engineered Bearings$24.9 $34.5 
Industrial Motion10.2 9.4 
Corporate0.1 0.2 
 $35.2 $44.1 
Depreciation and amortization:
Engineered Bearings$26.6 $26.7 
Industrial Motion28.3 28.2 
Corporate0.2 0.4 
 $55.1 $55.3