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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company’s segments are reported on the same basis used by our Chief Executive Officer, who is also our chief operating decision maker, for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Motion Technologies, Industrial Process, and Connect & Control Technologies. Motion Technologies manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, bus and rail transportation markets. Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, oil and gas, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts. Connect & Control Technologies manufactures harsh-environment connector solutions and critical energy absorption and flow control components for the aerospace and defense, general industrial, medical, and oil and gas markets. Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation and other administrative costs, as well as charges related to certain matters, such as asbestos and environmental liabilities, that are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. Assets of the segments exclude general corporate assets, which principally consist of cash, investments, asbestos-related receivables, environmental-related assets, deferred taxes, and certain property, plant and equipment.
| Revenue |  | Operating Income |  | Operating Margin
For the Three Months Ended September 30 | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018
Motion Technologies | $ | 304.5 |  |  | $ | 310.3 |  |  | $ | 56.7 |  |  | $ | 58.5 |  |  | 18.6 | % |  | 18.9 | %
Industrial Process | 240.3 |  |  | 205.0 |  |  | 22.0 |  |  | 23.7 |  |  | 9.2 | % |  | 11.6 | %
Connect & Control Technologies | 167.9 |  |  | 166.0 |  |  | 28.4 |  |  | 26.0 |  |  | 16.9 | % |  | 15.7 | %
Total segment results | 712.7 |  |  | 681.3 |  |  | 107.1 |  |  | 108.2 |  |  | 15.0 | % |  | 15.9 | %
Asbestos-related benefit, net | — |  |  | — |  |  | 56.2 |  |  | 4.3 |  |  | — |  |  | — |
Gain on sale of long-lived assets | — |  |  | — |  |  | — |  |  | 38.0 |  |  | — |  |  | — |
Eliminations / Other corporate costs | (0.8 | ) |  | (0.7 | ) |  | (10.8 | ) |  | (12.7 | ) |  | — |  |  | — |
Total Eliminations / Corporate and Other costs | (0.8 | ) |  | (0.7 | ) |  | 45.4 |  |  | 29.6 |  |  | — |  |  | — |
Total | $ | 711.9 |  |  | $ | 680.6 |  |  | $ | 152.5 |  |  | $ | 137.8 |  |  | 21.4 | % |  | 20.2 | %
| Revenue |  | Operating Income |  | Operating Margin
For the Nine Months Ended September 30 | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018
Motion Technologies | $ | 937.4 |  |  | $ | 982.8 |  |  | $ | 169.6 |  |  | $ | 175.9 |  |  | 18.1 | % |  | 17.9 | %
Industrial Process | 688.6 |  |  | 598.0 |  |  | 70.2 |  |  | 64.0 |  |  | 10.2 | % |  | 10.7 | %
Connect & Control Technologies | 503.1 |  |  | 488.0 |  |  | 85.4 |  |  | 76.3 |  |  | 17.0 | % |  | 15.6 | %
Total segment results | 2,129.1 |  |  | 2,068.8 |  |  | 325.2 |  |  | 316.2 |  |  | 15.3 | % |  | 15.3 | %
Asbestos-related benefit, net | — |  |  | — |  |  | 31.8 |  |  | 10.5 |  |  | — |  |  | — |
Gain on sale of long-lived assets | — |  |  | — |  |  | 0.5 |  |  | 38.0 |  |  | — |  |  | — |
Eliminations / Corporate and other costs | (1.8 | ) |  | (2.1 | ) |  | (28.4 | ) |  | (36.0 | ) |  | — |  |  | — |
Total Eliminations / Corporate and Other costs | (1.8 | ) |  | (2.1 | ) |  | 3.9 |  |  | 12.5 |  |  | — |  |  | — |
Total | $ | 2,127.3 |  |  | $ | 2,066.7 |  |  | $ | 329.1 |  |  | $ | 328.7 |  |  | 15.5 | % |  | 15.9 | %
| Total Assets |  | Capital Expenditures |  | Depreciation & Amortization
As of and for the Nine Months Ended September 30 | 2019 |  | 2018(a) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Motion Technologies | $ | 1,188.2 |  |  | $ | 1,147.2 |  |  | $ | 44.8 |  |  | $ | 54.1 |  |  | $ | 42.9 |  |  | $ | 42.8 |
Industrial Process | 1,115.2 |  |  | 1,000.1 |  |  | 8.5 |  |  | 3.5 |  |  | 19.8 |  |  | 20.5 |
Connect & Control Technologies | 756.0 |  |  | 694.0 |  |  | 13.4 |  |  | 6.0 |  |  | 15.9 |  |  | 16.2 |
Corporate and Other | 1,004.8 |  |  | 1,005.5 |  |  | 2.6 |  |  | 0.2 |  |  | 2.5 |  |  | 3.0 |
Total | $ | 4,064.2 |  |  | $ | 3,846.8 |  |  | $ | 69.3 |  |  | $ | 63.8 |  |  | $ | 81.1 |  |  | $ | 82.5 |
(a) Amounts reflect balances as of December 31, 2018.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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