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 Bearings | Industrial Motion | Total | | 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 assets | | | 1.2 | | | CEO succession expenses | | | (8.6) | | | | | | | Depreciation and amortization | | | (55.1) | | | Interest expense | | | (26.5) | | | Interest income | | | 2.3 | | | Income before income taxes | | | $ | 118.3 | |
For the three months ended March 31, 2024: | | | | | | | | | | | | | Engineered Bearings | Industrial Motion | Total | | 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 assets | | | 0.7 | | | | | | | | | | | Depreciation and amortization | | | (55.3) | | | Interest expense | | | (32.2) | | | Interest income | | | 2.8 | | | 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 Motion | 2,878.0 | | | 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, | | 2025 | | 2024 | | Capital expenditures: | | | | | Engineered Bearings | $ | 24.9 | | | $ | 34.5 | | | Industrial Motion | 10.2 | | | 9.4 | | | Corporate | 0.1 | | | 0.2 | | | | $ | 35.2 | | | $ | 44.1 | | | Depreciation and amortization: | | | | | Engineered Bearings | $ | 26.6 | | | $ | 26.7 | | | Industrial Motion | 28.3 | | | 28.2 | | | Corporate | 0.2 | | | 0.4 | | | | $ | 55.1 | | | $ | 55.3 | |
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