v3.25.2
REVENUE REVENUE
 6 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Footnote
REVENUE
The following tables present our revenue disaggregated by end market.
For the Three Months Ended June 28, 2025
Motion TechnologiesIndustrial ProcessConnect & Control TechnologiesEliminationsTotal
Auto and rail$362.0 $— $— $— $362.0 
Chemical and industrial pumps— 233.0 — — 233.0 
Aerospace and defense2.7 — 175.4 — 178.1 
Energy— 122.9 12.4 — 135.3 
General industrial1.0 — 64.1 (1.1)64.0 
Total$365.7 $355.9 $251.9 $(1.1)$972.4 
For the Six Months Ended June 28, 2025
Auto and rail$704.8 $— $— $— $704.8 
Chemical and industrial pumps— 457.3 — — 457.3 
Aerospace and defense5.0 — 338.3 — 343.3 
Energy— 231.9 25.0 — 256.9 
General industrial2.0 — 123.3 (2.2)123.1 
Total$711.8 $689.2 $486.6 $(2.2)$1,885.4 
For the Three Months Ended June 29, 2024
Motion TechnologiesIndustrial ProcessConnect & Control TechnologiesEliminationsTotal
Auto and rail$375.9 $— $— $— $375.9 
Chemical and industrial pumps— 230.4 — — 230.4 
Aerospace and defense2.0 — 114.7 — 116.7 
Energy— 100.3 13.1 — 113.4 
General industrial6.6 — 64.0 (1.1)69.5 
Total$384.5 $330.7 $191.8 $(1.1)$905.9 
For the Six Months Ended June 29, 2024
Auto and rail$759.8 $— $— $(0.1)$759.7 
Chemical and industrial pumps— 449.3 — — 449.3 
Aerospace and defense3.7 — 218.8 — 222.5 
Energy— 215.3 26.5 — 241.8 
General industrial13.4 — 131.6 (1.8)143.2 
Total$776.9 $664.6 $376.9 $(1.9)$1,816.5 
Contract Assets and Liabilities
Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings, net of allowances for credit losses. Contract assets are included in other current assets and other non-current assets in our Consolidated Condensed Balance Sheets. Contract liabilities consist of advance customer payments and billings in excess of revenue recognized. Contract liabilities are included in accrued liabilities and other non-current liabilities in our Consolidated Condensed Balance Sheets.
The following table represents our net contract assets and liabilities.
As of the Period EndedJune 28,
2025		December 31, 2024
Current contract assets
$42.5 $34.4 
Non-current contract assets
2.0 1.9 
Current contract liabilities
(167.9)(119.3)
Non-current contract liabilities(4.4)(4.4)
During the three and six months ended June 28, 2025, we recognized revenue of $61.2 and $96.7 related to contract liabilities as of December 31, 2024, respectively. The aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations, or backlog, as of June 28, 2025 was $1,902.6. Of this amount, we expect to recognize approximately $1,080 to $1,100 of revenue during the remainder of 2025. Our backlog generally represents firm orders that have been received, acknowledged, and entered into our production systems. However, within certain businesses in MT, our customers include automotive OEMs and we may win an award on an automotive platform several years in advance based on estimated levels of future automotive production. These awards allow for the customer to adjust their production levels at any time and therefore are not considered firm orders. Within these businesses we believe orders are firm upon receipt of the customer purchase order, which may require us to fulfill the order in as little as one week. As such, our backlog at any point in time for these businesses is not believed to be significant and therefore has been excluded from the total backlog amount.