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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Financial Information by Reportable Segment

as follows:

			Three months ended September 30, 2025
In millions			Systems Protection			Electrical Connections						Total
Net sales			$	715.6		$	338.4					$	1,054.0
Cost of goods sold(1)			470.5			184.9
Selling, general and administrative(1)			85.7			46.3
Research and development(1)			13.2			5.6
Reportable segment income			$	146.2		$	101.6					$	247.8
			Nine months ended September 30, 2025
In millions			Systems Protection			Electrical Connections						Total
Net sales			$	1,855.8		$	970.6					$	2,826.4
Cost of goods sold(1)			1,196.9			536.5
Selling, general and administrative(1)			236.0			136.1
Research and development(1)			35.4			16.4
Reportable segment income			$	387.5		$	281.6					$	669.1

			Three months ended September 30, 2024
In millions			Systems Protection			Electrical Connections						Total
Net sales			$	477.1		$	304.9					$	782.0
Cost of goods sold(1)			302.7			164.2
Selling, general and administrative(1)			60.8			42.5
Research and development(1)			9.2			5.6
Reportable segment income			$	104.4		$	92.6					$	197.0
			Nine months ended September 30, 2024
In millions			Systems Protection			Electrical Connections						Total
Net sales			$	1,357.8		$	896.1					$	2,253.9
Cost of goods sold(1)			853.3			479.1
Selling, general and administrative(1)			174.6			128.6
Research and development(1)			26.9			18.1
Reportable segment income			$	303.0		$	270.3					$	573.3

(1)    These costs exclude certain expenses reported in the Condensed Consolidated Statements of Income and Comprehensive Income that are reflected in 'Enterprise and other', as well as the costs that are excluded from reportable segment income as discussed above.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents a reconciliation of reportable segment income to consolidated income before income taxes:

			Three months ended									Nine months ended
In millions			September 30, 2025			September 30, 2024						September 30, 2025			September 30, 2024
Systems Protection			$	146.2		$	104.4					$	387.5		$	303.0
Electrical Connections			101.6			92.6						281.6			270.3
Reportable segment income			247.8			197.0						669.1			573.3
Enterprise and other			(34.5)			(28.6)						(93.6)			(79.6)
Restructuring and other			(2.7)			(2.8)						(6.7)			(5.9)
Intangible amortization			(41.9)			(26.8)						(106.0)			(66.7)
Acquisition transaction and integration costs			(2.4)			(5.6)						(9.8)			(11.1)
Net interest expense			(20.9)			(30.4)						(55.9)			(76.6)
Other expense			(1.2)			(1.2)						(3.4)			(3.3)
Income before income taxes			$	144.2		$	101.6					$	393.7		$	330.1

			Identifiable assets(1)
In millions			September 30, 2025			December 31, 2024
Systems Protection			$	3,342.2		$	2,129.3
Electrical Connections			3,281.0			3,154.7
Total for reportable segments			6,623.2			5,284.0
Enterprise and other			142.5			1,450.9
Consolidated			$	6,765.7		$	6,734.9

(1)     Identifiable assets for 'Enterprise and other' includes total assets held for sale attributable to the Company's Thermal Management business of $1,276.1 million as of December 31, 2024. See Note 6 for further information on the Company's sale of the Thermal Management business.

			Depreciation(1)
			Three months ended									Nine months ended
In millions			September 30, 2025			September 30, 2024						September 30, 2025			September 30, 2024
Systems Protection			$	9.6		$	6.5					$	23.6		$	18.8
Electrical Connections			6.1			5.5						18.0			16.2
Total reportable segments			15.7			12.0						41.6			35.0
Enterprise and other			1.1			1.0						3.4			2.8
Consolidated			$	16.8		$	13.0					$	45.0		$	37.8

(1)    These amounts of depreciation disclosed by reportable segment are included within the significant expense categories above, such as cost of goods sold and selling, general and administrative expenses.

			Capital expenditures
			Nine months ended
In millions			September 30, 2025			September 30, 2024
Systems Protection			$	37.1		$	28.7
Electrical Connections			14.7			16.6
Total reportable segments			51.8			45.3
Enterprise and other			4.8			2.2
Consolidated			$	56.6		$	47.5

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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