v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables set forth financial information by reporting segment (in millions). When reading the data, the following items should be noted:
•Segment Net sales comprise sales to unaffiliated customers - inter-segment and inter-area sales are not significant and are eliminated in consolidation.
•Segment operating income consists of Net sales less operating expenses, including total corporate expenses, which are generally allocated to each segment on the basis of the segment's percentage of consolidated Net sales. Interest expense and investment income and other expense, net have not been allocated to segments as these items are centrally managed by the Company.
•General corporate assets not allocated to segments are principally cash, prepaid pensions, investments and deferred taxes. These assets have not been allocated as they are centrally managed by the Company.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net Sales:
Utility Solutions$935.5 $926.5 $1,792.6 $1,820.5 
Electrical Solutions548.8 526.0 1,056.9 1,031.1 
TOTAL NET SALES$1,484.3 $1,452.5 $2,849.5 $2,851.6 
Cost of Goods Sold:
Utility Solutions$597.6 $612.6 $1,183.0 $1,240.3 
Electrical Solutions334.6 326.1 671.8 663.9 
Total Cost of Goods Sold$932.2 $938.7 $1,854.8 $1,904.2 
Gross Profit:
Utility Solutions$337.9 $313.9 $609.6 $580.2 
Electrical Solutions214.2 199.9 385.1 367.2 
Total Gross Profit$552.1 $513.8 $994.7 $947.4 
Selling and Administrative Expenses:
Utility Solutions$119.7 $116.7 $240.6 $235.3 
Electrical Solutions96.1 90.8 187.4 191.4 
Total Selling and Administrative Expenses$215.8 $207.5 $428.0 $426.7 
Operating Income:
Utility Solutions$218.2 $197.2 $369.0 $344.9 
Electrical Solutions118.1 109.1 197.7 175.8 
Total Operating Income$336.3 $306.3 $566.7 $520.7 
Loss on disposition of business(0.4)— (0.4)(5.3)
Interest expense, net(14.5)(19.8)(28.3)(40.9)
Other (expense) income, net(6.2)(1.2)(11.5)(1.9)
INCOME BEFORE INCOME TAXES$315.2 $285.3 $526.5 $472.6 
Operating Income as a % of Net Sales
Utility Solutions23.3 %21.3 %20.6 %18.9 %
Electrical Solutions21.5 %20.7 %18.7 %17.0 %
Total Operating Income as a % of Net Sales22.7 %21.1 %19.9 %18.3 %

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Capital Expenditures:
Utility Solutions$24.6 $19.9 $35.9 $46.3 
Electrical Solutions15.3 14.0 30.0 27.9 
TOTAL CAPITAL EXPENDITURES$39.9 $33.9 $65.9 $74.2 
Depreciation and Amortization:
Utility Solutions$34.4 $37.6 $68.2 $86.0 
Electrical Solutions13.9 12.0 27.0 23.5 
TOTAL DEPRECIATION AND AMORTIZATION$48.3 $49.6 $95.2 $109.5 
June 30, 2025December 31, 2024
Assets:
Utility Solutions$4,641.2 $4,569.1 
Electrical Solutions2,118.5 1,943.4 
General Corporate389.3 335.2 
TOTAL ASSETS$7,149.0 $6,847.7