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Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Segment Reporting [Abstract] |  |  |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The following table presents our segment revenue and operating income for each segment and reconciles to total consolidated revenue, total segment operating income and income from continuing operations before income tax.
For the Year Ended December 31, 2024 | Motion Technologies |  | Industrial Process |  | Connect & Control Technologies |  | Total
Revenue | $ | 1,447.8 |  |  | $ | 1,361.0 |  |  | $ | 825.1 |  |  | $ | 3,633.9 |
Eliminations |  |  |  |  |  |  | (3.2) |
Consolidated revenue |  |  |  |  |  |  | $ | 3,630.7 |
Costs of revenue(a) | 1,016.7 |  |  | 844.2 |  |  | 526.1 |  |  |
Selling, general and administrative expenses(a) | 110.7 |  |  | 215.7 |  |  | 117.7 |  |  |
Research and development expenses(a) | 54.0 |  |  | 24.6 |  |  | 34.5 |  |  |
Other segment expenses(b) | (48.2) |  |  | 0.2 |  |  | 0.7 |  |  |
Segment operating income | 314.6 |  |  | 276.3 |  |  | 146.1 |  |  | 737.0 |
Other corporate costs |  |  |  |  |  |  | (61.0) |
Interest expense |  |  |  |  |  |  | (36.6) |
Interest income |  |  |  |  |  |  | 6.6 |
Other non-operating income, net |  |  |  |  |  |  | 1.6 |
Income from continuing operations before income tax |  |  |  |  |  |  | $ | 647.6 |
For the Year Ended December 31, 2023 | Motion Technologies |  | Industrial Process |  | Connect & Control Technologies |  | Total
Revenue | $ | 1,457.8 |  |  | $ | 1,129.6 |  |  | $ | 699.4 |  |  | $ | 3,286.8 |
Eliminations |  |  |  |  |  |  | (3.8) |
Consolidated revenue |  |  |  |  |  |  | $ | 3,283.0 |
Costs of revenue(a) | 1,053.3 |  |  | 678.4 |  |  | 447.8 |  |  |
Selling, general and administrative expenses(a) | 122.4 |  |  | 192.5 |  |  | 103.2 |  |  |
Research and development expenses(a) | 51.8 |  |  | 15.0 |  |  | 32.7 |  |  |
Other segment expenses(b) | (0.5) |  |  | 0.1 |  |  | 8.2 |  |  |
Segment operating income | 230.8 |  |  | 243.6 |  |  | 107.5 |  |  | 581.9 |
Other corporate costs |  |  |  |  |  |  | (53.7) |
Interest expense |  |  |  |  |  |  | (19.2) |
Interest income |  |  |  |  |  |  | 8.8 |
Other non-operating income, net |  |  |  |  |  |  | 1.7 |
Income from continuing operations before income tax |  |  |  |  |  |  | $ | 519.5 |
For the Year Ended December 31, 2022 | Motion Technologies |  | Industrial Process |  | Connect & Control Technologies |  | Total
Revenue | $ | 1,374.0 |  |  | $ | 971.0 |  |  | $ | 645.6 |  |  | $ | 2,990.6 |
Eliminations |  |  |  |  |  |  | (2.9) |
Consolidated revenue |  |  |  |  |  |  | $ | 2,987.7 |
Costs of revenue(a) | 1,024.6 |  |  | 633.4 |  |  | 410.3 |  |  |
Selling, general and administrative expenses(a) | 91.0 |  |  | 152.5 |  |  | 89.2 |  |  |
Research and development expenses(a) | 50.1 |  |  | 13.8 |  |  | 30.2 |  |  |
Other segment expenses(b) | (0.2) |  |  | (16.3) |  |  | 0.1 |  |  |
Segment operating income | 208.5 |  |  | 187.6 |  |  | 115.8 |  |  | 511.9 |
Other corporate costs |  |  |  |  |  |  | (43.9) |
Interest expense |  |  |  |  |  |  | (10.9) |
Interest income |  |  |  |  |  |  | 4.5 |
Other non-operating income, net |  |  |  |  |  |  | 0.2 |
Income from continuing operations before income tax |  |  |  |  |  |  | $ | 461.8 |
Segment Operating Margin Table | The following table presents our operating margin for each segment. Segment operating margin is calculated as segment operating income divided by segment revenue.
For the Year Ended December 31 |  |  |  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023 |  | 2022
Motion Technologies |  |  |  |  |  |  |  |  |  |  |  |  | 21.7 | % |  | 15.8 | % |  | 15.2 | %
Industrial Process |  |  |  |  |  |  |  |  |  |  |  |  | 20.3 | % |  | 21.6 | % |  | 19.3 | %
Connect & Control Technologies |  |  |  |  |  |  |  |  |  |  |  |  | 17.7 | % |  | 15.4 | % |  | 17.9 | %
Schedule of Segment Reporting Information | The following table presents our assets as of December 31, 2024 and 2023, as well as our capital expenditures and depreciation and amortization expense for the years ended December 31, 2024, 2023, and 2022, by segment.
| Assets |  | Capital Expenditures |  | Depreciation and Amortization
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Motion Technologies | $ | 1,186.6 |  |  | $ | 1,366.6 |  |  | $ | 75.3 |  |  | $ | 72.0 |  |  | $ | 73.2 |  |  | $ | 61.5 |  |  | $ | 64.4 |  |  | $ | 59.9 |
Industrial Process | 1,798.6 |  |  | 1,323.2 |  |  | 34.2 |  |  | 17.7 |  |  | 10.9 |  |  | 45.9 |  |  | 21.9 |  |  | 25.3 |
Connect & Control Technologies | 1,326.8 |  |  | 834.6 |  |  | 13.1 |  |  | 16.1 |  |  | 14.8 |  |  | 27.5 |  |  | 20.3 |  |  | 18.8 |
Corporate and Other | 398.7 |  |  | 408.2 |  |  | 1.3 |  |  | 1.8 |  |  | 5.0 |  |  | 2.4 |  |  | 2.6 |  |  | 3.4 |
Total | $ | 4,710.7 |  |  | $ | 3,932.6 |  |  | $ | 123.9 |  |  | $ | 107.6 |  |  | $ | 103.9 |  |  | $ | 137.3 |  |  | $ | 109.2 |  |  | $ | 107.4 |
Revenue from External Customers by Geographic Areas | 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, 2024 | Motion Technologies |  | Industrial Process |  | Connect & Control Technologies |  | Eliminations |  | Total
North America(a) | $ | 256.5 |  |  | $ | 714.6 |  |  | $ | 539.0 |  |  | $ | (2.8) |  |  | $ | 1,507.3 |
Europe(b) | 787.4 |  |  | 176.2 |  |  | 144.6 |  |  | (0.3) |  |  | 1,107.9 |
Asia(c) | 384.7 |  |  | 190.6 |  |  | 95.2 |  |  | (0.1) |  |  | 670.4 |
Middle East and Africa | 1.2 |  |  | 165.9 |  |  | 32.6 |  |  | — |  |  | 199.7 |
South America | 18.0 |  |  | 113.7 |  |  | 13.7 |  |  | — |  |  | 145.4 |
Total | $ | 1,447.8 |  |  | $ | 1,361.0 |  |  | $ | 825.1 |  |  | $ | (3.2) |  |  | $ | 3,630.7 |
For the Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |
North America(a) | $ | 265.2 |  |  | $ | 660.9 |  |  | $ | 441.1 |  |  | $ | (3.7) |  |  | $ | 1,363.5 |
Europe(b) | 802.7 |  |  | 109.1 |  |  | 134.8 |  |  | — |  |  | 1,046.6 |
Asia(c) | 370.1 |  |  | 118.5 |  |  | 84.1 |  |  | (0.1) |  |  | 572.6 |
Middle East and Africa | 1.5 |  |  | 139.6 |  |  | 28.4 |  |  | — |  |  | 169.5 |
South America | 18.3 |  |  | 101.5 |  |  | 11.0 |  |  | — |  |  | 130.8 |
Total | $ | 1,457.8 |  |  | $ | 1,129.6 |  |  | $ | 699.4 |  |  | $ | (3.8) |  |  | $ | 3,283.0 |
For the Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |
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 |
(a)Includes revenue of $1,197.6, $1,075.8, and $978.6 from the United States for 2024, 2023, and 2022, respectively. (b)Includes revenue of $385.9, $387.8, and $404.7 from Germany for 2024, 2023, and 2022, respectively. (c)Includes revenue of $445.3, $351.8, and $307.8 from China for 2024, 2023, and 2022, respectively. |  |
Schedule of PP&E by Geographic Region | The following table displays Plant, Property and Equipment (PPE), net by geographic region.
As of December 31 | 2024 |  | 2023
North America(a) | $ | 160.4 |  |  | $ | 165.0 |
Europe(b) | 300.6 |  |  | 287.5 |
Asia(c) | 91.7 |  |  | 87.8 |
Middle East and Africa | 22.4 |  |  | 17.8 |
South America | 2.1 |  |  | 2.9 |
Total | $ | 577.2 |  |  | $ | 561.0 |
(a)Includes PPE, net of $113.0 and $127.1 in the United States as of December 31, 2024 and 2023, respectively. (b)Includes PPE, net of $154.8 and $134.4 in Italy as of December 31, 2024 and 2023, respectively. (c)Includes PPE, net of $62.3 and $63.2 in China as of December 31, 2024 and 2023, respectively. |  |

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