v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
The Company’s segments are reported on the same basis used by our chief operating decision maker (CODM) for evaluating performance and for allocating resources. The Company’s CODM is the President and Chief Executive Officer. The CODM allocates resources based on revenue and operating income primarily through the annual budget and periodic forecasting process. The CODM considers budget-to-actual variances when making decisions about allocating capital and personnel to the segments. Our three reportable segments are referred to as Motion Technologies, Industrial Process, and Connect & Control Technologies.
Motion Technologies manufactures brake components, shock absorbers and damping technologies primarily for the global automotive and rail transportation markets.
Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, energy, marine, mining, and other industrial process markets and is a provider of pumps, valves and aftermarket services and parts.
Connect & Control Technologies manufactures harsh-environment connector solutions, cable assemblies, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and energy markets.
Assets of our reportable segments exclude general corporate assets, which principally consist of cash, investments, deferred taxes, and certain property, plant and equipment. These assets are included within Corporate and Other, which is described further below.
Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, including environmental liabilities, which are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. In addition, Corporate and Other includes research and development-related expenses associated with a subsidiary that does not constitute a reportable segment.
The following table presents our revenue for each segment and reconciles our total segment revenue to total consolidated revenue.
Three Months Ended June 28, 2025
Motion Technologies
Industrial Process
Connect & Control Technologies
Total
Revenue
$365.7 $355.9 $251.9 $973.5 
Eliminations
(1.1)
Consolidated revenue
$972.4 
Costs of revenue(a)
254.1 211.3 161.3 
Selling, general and administrative expenses(a)
28.7 61.7 35.9 
Research and development expenses(a)
11.76.3 9.8 
Segment operating income$71.2 $76.6 44.9 $192.7 
Other corporate costs(17.6)
Interest expense
(12.6)
Interest income
2.4 
Other non-operating expense, net
(0.7)
Income from continuing operations before income tax$164.2 
Six Months Ended June 28, 2025
Revenue$711.8 $689.2 $486.6 $1,887.6 
Eliminations(2.2)
Consolidated revenue$1,885.4 
Costs of revenue(a)
493.9 413.5 317.0 
Selling, general and administrative expenses(a)
56.0123.270.1
Research and development expenses(a)
23.112.418.6
Segment operating income$138.8 $140.1 $80.9 $359.8 
Other corporate costs(33.8)
Interest expense(21.9)
Interest income4.1 
Other non-operating income, net0.3 
Income from continuing operations before income tax$308.5 
Three Months Ended June 29, 2024Motion TechnologiesIndustrial ProcessConnect & Control TechnologiesTotal
Revenue$384.5 $330.7 $191.8 $907.0 
Eliminations(1.1)
Consolidated revenue$905.9 
Costs of revenue(a)
268.8 201.4 119.9 
Selling, general and administrative expenses(a)
31.256.827.7
Research and development expenses(a)
13.36.08.8
Segment operating income$71.2 $66.5 $35.4 $173.1 
Other corporate costs(13.4)
Interest expense
(7.4)
Interest income
1.6 
Other non-operating income, net
0.2 
Income from continuing operations before income tax$154.1 
Six Months Ended June 29, 2024
Revenue$776.9 $664.6 $376.9 $1,818.4 
Eliminations(1.9)
Consolidated revenue$1,816.5 
Costs of revenue(a)
546.2 415.1 238.6 
Selling, general and administrative expenses(a)
60.3106.853.1
Research and development expenses(a)
28.611.717.1
Segment operating income$141.8 $131.0 $68.1 $340.9 
Other corporate costs(31.3)
Interest expense(15.1)
Interest income3.4 
Other non-operating income, net1.7 
Income from continuing operations before income tax$299.6 
(a)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
The following table presents our operating margin for each segment. Segment operating margin is calculated as segment operating income divided by segment revenue.
 Three Months EndedSix Months Ended
June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Motion Technologies19.5 %18.5 %19.5 %18.3 %
Industrial Process21.5 %20.1 %20.3 %19.7 %
Connect & Control Technologies17.8 %18.5 %16.6 %18.1 %
The following table presents our total assets, capital expenditures, and depreciation & amortization expense for each segment.
As of and for the
Six Months Ended
Total AssetsCapital
Expenditures		Depreciation &
Amortization
June 28,
2025		December 31, 2024June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Motion Technologies$1,301.4 $1,186.6 $37.4 $34.4 $28.9 $31.3 
Industrial Process1,992.6 1,819.8 9.7 10.8 19.9 23.0 
Connect & Control Technologies1,336.7 1,326.8 5.8 5.3 22.0 10.4 
Corporate and Other384.5 398.1 0.3 0.4 1.9 1.3 
Total$5,015.2 $4,731.3 $53.2 $50.9 $72.7 $66.0