v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Net Revenue, Segment and Non-Segment Operating Expenses and Operating Income for the Reportable Segments
The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three and six months ended June 30, 2026 and 2025:
 For the three months endedFor the six months ended
 June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net revenue:
Automotive (1)
$544.8 $527.5 $1,074.1 $1,059.7 
Industrials (1)
212.1 206.3 387.4 384.6 
Aerospace, Defense, and Commercial Equipment (1)
233.7 209.7 464.0 410.3 
Total net revenue$990.6 $943.4 $1,925.4 $1,854.6 
Segment cost of revenue:
Automotive
$369.4 $366.3 $731.2 $738.1 
Industrials
130.6 125.7 236.2 234.7 
Aerospace, Defense, and Commercial Equipment
147.6 138.5 295.2 270.2 
Total segment cost of revenue
$647.6 $630.5 $1,262.7 $1,242.9 
Segment operating expenses(2):
Automotive (1)
$43.7 $40.1 $88.7 $81.9 
Industrials (1)
24.1 22.7 47.3 46.2 
Aerospace, Defense, and Commercial Equipment (1)
21.0 19.9 38.7 38.4 
Total segment operating expenses
$88.8 $82.7 $174.7 $166.5 
Segment operating income (as defined above):
Automotive (1)
$131.7 $121.1 $254.1 $239.7 
Industrials (1)
57.5 57.9 103.9 103.8 
Aerospace, Defense, and Commercial Equipment (1)
65.1 51.2 130.1 101.7 
Total segment operating income
254.2 230.2 488.1 445.2 
Corporate and other(1)
(74.8)(64.3)(147.6)(129.6)
Amortization of intangible assets(15.7)(21.2)(31.5)(41.8)
Restructuring and other charges, net1.7 (6.6)(2.0)(13.6)
Operating income165.4 138.1 307.0 260.3 
Interest expense(32.8)(37.7)(66.9)(75.7)
Interest income3.6 4.5 7.5 8.8 
Other, net(3.6)0.9 0.4 3.1 
Income before taxes$132.5 $105.8 $248.0 $196.4 
___________________________________
(1)    The amounts previously reported for the three and six months ended June 30, 2025 have been retrospectively recast to reflect the segment realignment as discussed in Note 1: Basis of Presentation.
(2)    Segment operating expenses include research, development, and engineering, and selling, general and administrative expenses associated with each segment.
Schedule of Depreciation and Amortization Expense for Reportable Segments and Corporate and Other
The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025:
 For the three months endedFor the six months ended
 June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Depreciation and amortization:
Automotive$19.8 $20.4 $39.7 $42.1 
Industrials2.5 3.0 5.2 5.9 
Aerospace, Defense, and Commercial Equipment3.8 4.7 8.0 9.0 
Corporate and other (1)
23.2 26.4 46.1 59.1 
Total depreciation and amortization$49.3 $54.5 $99.0 $116.1 
__________________________
(1)Included within corporate and other is depreciation expense, amortization of intangible assets, and accelerated depreciation recognized in connection with restructuring actions. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker.
Schedule of Additions to PP&E and Capitalized Software
The following table presents additions to property, plant and equipment ("PP&E") and capitalized software for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025:
 For the three months endedFor the six months ended
 June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Additions to property, plant and equipment and capitalized software:
Automotive$17.7 $18.5 $30.6 $41.3 
Industrials1.7 1.9 4.6 5.0 
Aerospace, Defense, and Commercial Equipment0.8 0.8 1.1 0.8 
Corporate and other3.3 4.2 5.3 10.9 
Total additions to property, plant and equipment and capitalized software$23.6 $25.4 $41.5 $58.0 
Schedule of Net Revenue by Geographic Area and by Significant Country
The following tables present net revenue by geographic area and by significant country for the three and six months ended June 30, 2026 and 2025. In these tables, net revenue is aggregated according to the location of our subsidiaries.
 For the three months endedFor the six months ended
 June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net revenue:
Americas$404.6 $380.0 $780.4 $752.5 
Europe269.8 265.2 537.7 517.7 
Asia and rest of world316.2 298.1 607.4 584.5 
Net revenue$990.6 $943.4 $1,925.4 $1,854.6 
 For the three months endedFor the six months ended
 June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net revenue:
United States$394.5 $370.5 $760.2 $715.5 
China182.8 183.0 351.1 357.5 
The Netherlands228.6 226.1 456.9 443.9 
United Kingdom30.0 30.0 60.1 57.0 
All other154.7 133.8 297.2 280.7 
Net revenue$990.6 $943.4 $1,925.4 $1,854.6 
Schedule of PP&E, Net, by Geographic Area and by Significant Country
The following tables present PP&E, net, by geographic area and by significant country as of June 30, 2026 and December 31, 2025. In these tables, PP&E, net is aggregated based on the location of our subsidiaries.
 June 30,
2026		December 31,
2025
Property, plant and equipment, net:
Americas$255.8 $262.3 
Europe125.4 135.4 
Asia and rest of world378.0 378.7 
Property, plant and equipment, net$759.2 $776.5 
 June 30,
2026		December 31,
2025
Property, plant and equipment, net:
United States$93.6 $99.4 
China256.2 254.3 
Mexico162.1 162.8 
Bulgaria93.4 99.4 
United Kingdom20.6 24.6 
Malaysia118.0 120.5 
All other15.3 15.5 
Property, plant and equipment, net$759.2 $776.5