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Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue by Category

Geographic net sales information, based on geographic destination of the sale, was as follows:

			Three months ended September 30, 2023
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
U.S. and Canada			$	284.1		$	250.2		$	95.5		$	629.8
Developed Europe (1)			87.3			34.1			28.2			149.6
Developing (2)			37.6			13.1			16.7			67.4
Other Developed (3)			3.7			4.9			3.4			12.0
Total			$	412.7		$	302.3		$	143.8		$	858.8

			Nine months ended September 30, 2023
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
U.S. and Canada			$	830.0		$	615.7		$	271.6		$	1,717.3
Developed Europe (1)			252.6			108.2			85.0			445.8
Developing (2)			108.8			36.2			54.9			199.9
Other Developed (3)			12.3			14.6			12.5			39.4
Total			$	1,203.7		$	774.7		$	424.0		$	2,402.4

			Three months ended September 30, 2022
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
U.S. and Canada			$	275.4		$	158.5		$	93.9		$	527.8
Developed Europe (1)			76.3			33.4			29.2			138.9
Developing (2)			31.9			12.4			20.9			65.2
Other Developed (3)			4.1			4.9			4.3			13.3
Total			$	387.7		$	209.2		$	148.3		$	745.2

			Nine months ended September 30, 2022
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
U.S. and Canada			$	764.2		$	448.4		$	268.8		$	1,481.4
Developed Europe (1)			238.7			101.8			92.9			433.4
Developing (2)			111.8			33.2			66.8			211.8
Other Developed (3)			13.2			14.3			13.3			40.8
Total			$	1,127.9		$	597.7		$	441.8		$	2,167.4

(1) Developed Europe includes Western Europe and Eastern Europe included in European Union.

(2) Developing includes China, Eastern Europe not included in European Union, Latin America, Middle East and Southeast Asia.

(3) Other Developed includes Australia and Japan.

Vertical net sales information was as follows:

			Three months ended September 30, 2023
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
Industrial			$	224.6		$	37.6		$	70.1		$	332.3
Commercial & Residential			65.0			169.2			45.7			279.9
Infrastructure			116.6			83.0			6.1			205.7
Energy			6.5			12.5			21.9			40.9
Total			$	412.7		$	302.3		$	143.8		$	858.8

			Nine months ended September 30, 2023
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
Industrial			$	665.8		$	87.9		$	203.4		$	957.1
Commercial & Residential			182.3			408.8			131.1			722.2
Infrastructure			336.4			246.0			18.9			601.3
Energy			19.2			32.0			70.6			121.8
Total			$	1,203.7		$	774.7		$	424.0		$	2,402.4

			Three months ended September 30, 2022
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
Industrial			$	211.3		$	20.8		$	70.3		$	302.4
Commercial & Residential			56.9			104.7			50.6			212.2
Infrastructure			112.6			74.8			6.8			194.2
Energy			6.9			8.9			20.6			36.4
Total			$	387.7		$	209.2		$	148.3		$	745.2

			Nine months ended September 30, 2022
In millions			Enclosures			Electrical & Fastening Solutions			Thermal Management			Total
Industrial			$	624.5		$	59.7		$	211.8		$	896.0
Commercial & Residential			169.6			303.8			145.8			619.2
Infrastructure			314.2			209.7			17.6			541.5
Energy			19.6			24.5			66.6			110.7
Total			$	1,127.9		$	597.7		$	441.8		$	2,167.4

In the fourth quarter of 2022, for purposes of how we assess performance, we determined that certain revenue was better aligned with the infrastructure and commercial & residential verticals, rather than the industrial and energy verticals, where it was previously reported. For comparability, we have reclassified revenue for the three and nine months ended September 30, 2022 to conform to the new presentation. This reclassification of revenue by vertical had no impact on our consolidated financial results.

Contract assets and liabilities

Contract assets and liabilities consisted of the following:

In millions			September 30, 2023			December 31, 2022			$ Change			% Change
Contract assets			$	44.2		$	45.6		$	(1.4)		(3.1		%)
Contract liabilities			18.7			22.7			(4.0)			(17.6		%)
Net contract assets			$	25.5		$	22.9		$	2.6		11.4		%

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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