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Segment Information (Notes) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION The Company’s segments are reported on the same basis used by 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, public bus and rail transportation markets. Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, energy, 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, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and energy markets. Assets of our reportable segments exclude general corporate assets, which principally consist of cash, investments, deferred taxes, and certain property, plant and equipment. These assets are included within Corporate and Other, which is described further below. 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. In addition, Corporate and Other includes research and development-related expenses associated with a subsidiary that does not constitute a reportable segment. The following table presents our revenue, operating income, and operating margin for each segment.
| Revenue |  | Operating Income |  | Operating Margin
For the Year Ended December 31 | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Motion Technologies | $ | 1,374.0 |  |  | $ | 1,368.6 |  |  | $ | 1,121.1 |  |  | $ | 208.5 |  |  | $ | 258.2 |  |  | $ | 184.0 |  |  | 15.2 | % |  | 18.9 | % |  | 16.4 | %
Industrial Process | 971.0 |  |  | 843.2 |  |  | 843.0 |  |  | 187.6 |  |  | 126.8 |  |  | 77.6 |  |  | 19.3 | % |  | 15.0 | % |  | 9.2 | %
Connect & Control Technologies | 645.6 |  |  | 554.7 |  |  | 516.5 |  |  | 115.8 |  |  | 81.7 |  |  | 57.0 |  |  | 17.9 | % |  | 14.7 | % |  | 11.0 | %
Eliminations | (2.9) |  |  | (1.5) |  |  | (2.8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total segment results | 2,987.7 |  |  | 2,765.0 |  |  | 2,477.8 |  |  | 511.9 |  |  | 466.7 |  |  | 318.6 |  |  | 17.1 | % |  | 16.9 | % |  | 12.9 | %
Asbestos-related benefit (costs), net(a) | — |  |  | — |  |  | — |  |  | — |  |  | 74.4 |  |  | (66.3) |  |  | — |  |  | — |  |  | — |
Other corporate costs | — |  |  | — |  |  | — |  |  | (43.9) |  |  | (36.8) |  |  | (25.8) |  |  | — |  |  | — |  |  | — |
Total Corporate and other (costs) benefit | — |  |  | — |  |  | — |  |  | (43.9) |  |  | 37.6 |  |  | (92.1) |  |  | — |  |  | — |  |  | — |
Total | $ | 2,987.7 |  |  | $ | 2,765.0 |  |  | $ | 2,477.8 |  |  | $ | 468.0 |  |  | $ | 504.3 |  |  | $ | 226.5 |  |  | 15.7 | % |  | 18.2 | % |  | 9.1 | %
(a)The 2021 period includes a pre-tax gain of $88.8 resulting from the InTelCo Management LLC (InTelCo) divestiture transaction. The 2020 period includes the impact of extending the net asbestos measurement over the full time period we expected claims to be filed against InTelCo. See Note 20, Commitments and Contingencies, for further information. The following table presents our assets as of December 31, 2022 and 2021, as well as our capital expenditures and depreciation and amortization expense for the years ended December 31, 2022, 2021, and 2020, by segment.
| Assets |  | Capital Expenditures |  | Depreciation and Amortization
| 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Motion Technologies | $ | 1,311.9 |  |  | $ | 1,272.8 |  |  | $ | 73.2 |  |  | $ | 71.1 |  |  | $ | 43.8 |  |  | $ | 59.9 |  |  | $ | 64.1 |  |  | $ | 60.0 |
Industrial Process | 1,218.6 |  |  | 1,030.0 |  |  | 10.9 |  |  | 6.7 |  |  | 8.3 |  |  | 25.3 |  |  | 22.3 |  |  | 23.7 |
Connect & Control Technologies | 751.6 |  |  | 719.3 |  |  | 14.8 |  |  | 8.5 |  |  | 10.6 |  |  | 18.8 |  |  | 21.8 |  |  | 23.1 |
Corporate and Other | 498.2 |  |  | 543.3 |  |  | 5.0 |  |  | 2.1 |  |  | 1.0 |  |  | 3.4 |  |  | 4.9 |  |  | 5.4 |
Total | $ | 3,780.3 |  |  | $ | 3,565.4 |  |  | $ | 103.9 |  |  | $ | 88.4 |  |  | $ | 63.7 |  |  | $ | 107.4 |  |  | $ | 113.1 |  |  | $ | 112.2 |
The following table displays consolidated revenue by geographic region. Revenue is attributed to individual regions based on the destination of the product or service delivery.
For the Year Ended December 31, 2022 | Motion Technologies |  | Industrial Process |  | Connect & Control Technologies |  | Eliminations |  | Total
North America(a) | $ | 266.9 |  |  | $ | 566.2 |  |  | $ | 390.2 |  |  | $ | (2.8) |  |  | $ | 1,220.5 |
Europe(b) | 756.7 |  |  | 94.6 |  |  | 136.4 |  |  | — |  |  | 987.7 |
Asia(c) | 333.6 |  |  | 102.8 |  |  | 88.1 |  |  | (0.1) |  |  | 524.4 |
Middle East and Africa | 1.3 |  |  | 120.8 |  |  | 22.4 |  |  | — |  |  | 144.5 |
South America | 15.5 |  |  | 86.6 |  |  | 8.5 |  |  | — |  |  | 110.6 |
Total | $ | 1,374.0 |  |  | $ | 971.0 |  |  | $ | 645.6 |  |  | $ | (2.9) |  |  | $ | 2,987.7 |
For the Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |
North America(a) | $ | 249.9 |  |  | $ | 470.1 |  |  | $ | 331.4 |  |  | $ | (1.5) |  |  | $ | 1,049.9 |
Europe(b) | 798.8 |  |  | 96.0 |  |  | 115.5 |  |  | — |  |  | 1,010.3 |
Asia(c) | 307.8 |  |  | 99.8 |  |  | 84.0 |  |  | — |  |  | 491.6 |
Middle East and Africa | 1.0 |  |  | 97.7 |  |  | 18.1 |  |  | — |  |  | 116.8 |
South America | 11.1 |  |  | 79.6 |  |  | 5.7 |  |  | — |  |  | 96.4 |
Total | $ | 1,368.6 |  |  | $ | 843.2 |  |  | $ | 554.7 |  |  | $ | (1.5) |  |  | $ | 2,765.0 |
For the Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |
North America(a) | $ | 187.3 |  |  | $ | 479.0 |  |  | $ | 319.3 |  |  | $ | (2.6) |  |  | $ | 983.0 |
Europe(b) | 676.4 |  |  | 95.5 |  |  | 97.4 |  |  | — |  |  | 869.3 |
Asia(c) | 243.8 |  |  | 93.1 |  |  | 77.0 |  |  | (0.2) |  |  | 413.7 |
Middle East and Africa | 1.5 |  |  | 92.0 |  |  | 18.8 |  |  | — |  |  | 112.3 |
South America | 12.1 |  |  | 83.4 |  |  | 4.0 |  |  | — |  |  | 99.5 |
Total | $ | 1,121.1 |  |  | $ | 843.0 |  |  | $ | 516.5 |  |  | $ | (2.8) |  |  | $ | 2,477.8 |
(a)Includes revenue of $978.6, $842.9, and $811.0 from the United States for 2022, 2021, and 2020, respectively. (b)Includes revenue of $404.7, $418.3, and $334.9 from Germany for 2022, 2021, and 2020, respectively. (c)Includes revenue of $307.8, $306.5, and $232.9 from China for 2022, 2021, and 2020, respectively. The following table displays Plant, Property and Equipment (PPE), net by geographic region.
As of December 31 | 2022 |  | 2021
North America(a) | $ | 156.5 |  |  | $ | 160.6 |
Europe(b) | 272.5 |  |  | 263.8 |
Asia(c) | 79.2 |  |  | 81.1 |
Middle East and Africa | 15.8 |  |  | 0.6 |
South America | 2.8 |  |  | 3.0 |
Total | $ | 526.8 |  |  | $ | 509.1 |
(a)Includes PPE, net of $125.2 and $130.3 in the United States as of December 31, 2022 and 2021, respectively. (b)Includes PPE, net of $113.6 and $115.7 in Italy as of December 31, 2022 and 2021, respectively. (c)Includes PPE, net of $52.8 and $52.5 in China as of December 31, 2022 and 2021, respectively.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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