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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents details deemed most relevant to the users of the financial statements about total revenue for the years ended December 31, 2024, 2023 and 2022:
| December 31, 2024
| Engineered Bearings | Industrial Motion | Total
United States | $ | 1,281.6 |  | $ | 795.3 |  | $ | 2,076.9 |
Americas excluding United States | 383.1 |  | 102.7 |  | 485.8 |
Europe / Middle East / Africa | 599.2 |  | 520.7 |  | 1,119.9 |
Asia-Pacific | 770.4 |  | 120.0 |  | 890.4 |
Net sales | $ | 3,034.3 |  | $ | 1,538.7 |  | $ | 4,573.0 |
| December 31, 2023
| Engineered Bearings | Industrial Motion | Total
United States | $ | 1,266.1 |  | $ | 789.8 |  | $ | 2,055.9 |
Americas excluding United States | 375.6 |  | 106.1 |  | 481.7 |
Europe / Middle East / Africa | 678.6 |  | 499.7 |  | 1,178.3 |
Asia-Pacific | 937.4 |  | 115.7 |  | 1,053.1 |
Net sales | $ | 3,257.7 |  | $ | 1,511.3 |  | $ | 4,769.0 |
| December 31, 2022
| Engineered Bearings | Industrial Motion | Total
United States | $ | 1,198.1 |  | $ | 793.9 |  | $ | 1,992.0 |
Americas excluding United States | 383.2 |  | 93.0 |  | 476.2 |
Europe / Middle East / Africa | 588.9 |  | 406.8 |  | 995.7 |
Asia-Pacific | 922.4 |  | 110.4 |  | 1,032.8 |
Net sales | $ | 3,092.6 |  | $ | 1,404.1 |  | $ | 4,496.7 |
The following table presents the percent of revenues by sales channel for the years ended December 31, 2024, 2023 and 2022:
Revenue by sales channel | 2024 | 2023 | 2022
Original equipment manufacturers | 55% | 60% | 60%
Distribution/end users | 45% | 40% | 40%
Schedule of Rollforward of Unbilled Receivables and Deferred Revenue | The following table contains a rollforward of unbilled receivables for the years ended December 31, 2024 and 2023:
| 2024 | 2023
Beginning balance, January 1 | $ | 144.5 |  | $ | 103.9 |
Additional unbilled revenue recognized | 380.5 |  | 424.1 |
Less: amounts billed to customers | (384.2) |  | (383.5) |
Ending balance | $ | 140.8 |  | $ | 144.5 |
The following table contains a rollforward of deferred revenue for the years ended December 31, 2024 and 2023:
| 2024 | 2023
Beginning balance, January 1 | $ | 45.4 |  | $ | 54.3 |
Acquisitions | 0.7 |  | 1.4 |
Revenue (cash) received in advance | 153.0 |  | 165.2 |
Less: revenue recognized | (157.7) |  | (175.5) |
Ending balance | $ | 41.4 |  | $ | 45.4 |

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- 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 + Details
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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 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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