BASIS OF PRESENTATION (Policies) |
9 Months Ended |
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Sep. 30, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | The Condensed Consolidated Financial Statements have been prepared in accordance with GAAP, which requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the Condensed Consolidated Financial Statements and revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company uses estimates in accounting for, among other items, allowances for credit losses; excess and obsolete inventory; share-based compensation; product warranty obligations; pension and post-retirement assets and liabilities; derivative fair values; goodwill and other asset impairments; health care reserves; rebates and incentives; litigation claims and contingencies, including environmental matters; and income taxes. The Company accounts for changes to estimates and assumptions when warranted by factually based experience. |
| Revenue Recognition | Revenue Recognition The Company recognizes revenue from the sale of premium-efficiency electric motors and air moving subsystems, highly engineered industrial power transmission components and subsystems, and a portfolio of discrete automation products that include controls, actuators, drives, and high-precision servo motors. The Company recognizes revenue when control of the product passes to the customer or the service is provided. Revenue is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. Nature of Performance Obligations For performance obligations related to substantially all of the Company's product sales, the Company determines that the customer obtains control upon shipment and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of and obtain substantially all of the remaining benefits from the asset. The Company considers control to have transferred upon shipment because the Company has a present right to payment at that time, the customer has legal title to the asset, the Company has transferred physical possession of the asset, and the customer has significant risks and rewards of ownership of the asset. For certain contracts, the Company transfers control and recognizes revenue over time. The Company generally recognizes revenue over time on contracts for which the Company is creating an asset with no alternative use and has an enforceable right to payment for performance completed to date. The Company satisfies its performance obligations over time and uses a cost-based input method to measure progress. In applying the cost-based method of revenue recognition, the Company uses actual costs incurred to date relative to the total estimated costs for the contract in conjunction with the customer's commitment to perform in determining the amount of revenue to recognize. The Company has determined that the cost-based input method best depicts the transfer of control of goods or services to the customer. For contracts recognized using the cost-based input method, the Company determines the contract asset or contract liability position at each reporting period. Contract assets relate to the Company's right to consideration for work completed but not billed at the reporting date and are recorded in Prepaid Expenses and Other Current Assets on the Condensed Consolidated Balance Sheets. Contract liabilities relate to advance consideration received from customers or advance billings for which revenue has not been recognized and are recorded in Other Accrued Expenses on the Condensed Consolidated Balance Sheets.
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| Inventories | Inventories Inventories are stated at the lower of cost or net realizable value, using the FIFO cost method. Material, labor and factory overhead costs are included in the inventories.
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| Supplier Finance Program | Supplier Finance Program The Company's supplier finance program with Bank of America (the "Bank") offers the Company's designated suppliers the option to receive payments of outstanding invoices in advance of the invoice maturity dates at a discount. The Company's payment obligation to the Bank remains subject to the respective supplier's invoice maturity date. The Bank acts as a payment agent, making payments on invoices the Company confirms are valid. The supplier finance program is offered for open account transactions only and may be terminated by either the Company or the Bank upon 15 days notice. The Company has not pledged any assets under this program. The Company has not incurred any subscription, service or other fees related to the Company's supplier finance program. The Company's outstanding obligations under the supplier finance program, which are classified within Accounts Payable, were $49.4 million and $42.0 million as of September 30, 2026 and December 31, 2025, respectively.
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| Goodwill | Goodwill The Company evaluates the carrying amount of goodwill annually as of the end of October or more frequently if events or circumstances indicate that the goodwill might be impaired. Factors that could trigger an impairment review include significant underperformance relative to historical or forecasted operating results, a significant decrease in the market value of an asset or significant negative industry or economic trends. Reporting units with recent impairments or those with goodwill resulting from recent acquisitions generally present the highest risk of impairment. In performing quantitative tests, the Company uses a weighting of the market approach and the income approach (discounted cash flow method). In the market approach, the Company applies performance multiples from comparable public companies, adjusted for relative risk, profitability, and growth considerations, to each reporting unit's performance measure to estimate fair value. The key assumptions used in the discounted cash flow method used to estimate fair value include discount rates, revenue and EBITDA margin projections and terminal value rates because such assumptions are the most sensitive and susceptible to change as they require significant management judgment. Discount rates are determined using market and industry cost of capital data, including the risk-free interest rate, as well as Company-specific risk factors for each reporting unit. The discount rate utilized for each reporting unit is indicative of the return an investor would expect to receive for investing in such a business. Terminal value rate determination follows common methodology of capturing the present value of perpetual cash flow estimates beyond the last projected period assuming a constant discount rate and long-term growth rates. There is inherent uncertainty included in the assumptions used in goodwill impairment testing. A change to any of the assumptions could lead to a future impairment that could be material. During the three months ended September 30, 2026, the Company determined that it was more likely than not that the Company would sell its autonomous mobile solutions ("AMS") business that provides hardware and software navigation solutions for autonomous guided vehicles, which is part of a reporting unit in the Automation & Motion Control ("AMC") segment. The Company identified this as a triggering event for goodwill impairment testing purposes and performed a quantitative test as of August 31, 2026. The Company determined that goodwill was impaired and recorded a goodwill impairment charge of $95.5 million for the reporting unit. Subsequently, AMS met the criteria to be classified as held for sale and goodwill was allocated to AMS and the retained portion of the reporting unit based on their relative fair values. The Company evaluated AMS as a separate reporting unit and determined that the goodwill allocated to it was fully impaired resulting in an additional impairment charge of $23.8 million. See Note 5 - Goodwill and Intangible Assets and Note 3 - Held for Sale for more information.
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