XML 24 R9.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Note 3 - Segment Information The Company operates under two reportable segments: (1) Engineered Bearings and (2) Industrial Motion. The Company's Chief Operating Decision Maker ("CODM") is the President and Chief Executive Officer ("CEO"). The primary measurement used by the CODM to measure the financial performance of each segment is adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"). The Company's CODM evaluates financial performance and allocates resources based on return on capital and profitable growth. The CODM considers actual and budgeted results provided on a regular basis for both segment's profit measures when making decisions about allocating capital and personnel to the segments. The following tables provide segment financial information and a reconciliation of segment results to consolidated results: For the three months ended September 30, 2025:
| Engineered Bearings | Industrial Motion | Total
Net sales | $ | 765.8 |  | $ | 391.3 |  | $ | 1,157.1 |
Cost of products sold (1) | (542.9) |  | (263.5) |  |
Selling, general and administrative expenses (2) | (104.0) |  | (65.8) |  |
Other segment items (3) | 0.2 |  | (0.2) |  |
Depreciation and amortization (4) | 25.1 |  | 12.7 |  |
Adjusted EBITDA for reportable segments | $ | 144.2 |  | $ | 74.5 |  | $ | 218.7 |
Unallocated corporate expense |  |  | (17.0) |
Impairment, restructuring and reorganization charges |  |  | (4.5) |
Gain on the sale of certain assets |  |  | 0.5 |
CEO transition expenses |  |  | (6.7) |
Depreciation and amortization |  |  | (58.6) |
Interest expense |  |  | (27.3) |
Interest income |  |  | 2.4 |
Income before income taxes |  |  | $ | 107.5 |
For the nine months ended September 30, 2025:
| Engineered Bearings | Industrial Motion | Total
Net sales | $ | 2,303.9 |  | $ | 1,166.9 |  | $ | 3,470.8 |
Cost of products sold (1) | (1,612.2) |  | (785.2) |  |
Selling, general and administrative expenses (2) | (309.7) |  | (204.6) |  |
Other segment items (3) | 1.7 |  | (0.2) |  |
Depreciation and amortization (4) | 73.1 |  | 37.3 |  |
Adjusted EBITDA for reportable segments | $ | 456.8 |  | $ | 214.2 |  | $ | 671.0 |
Unallocated corporate expense |  |  | (53.0) |
Impairment, restructuring and reorganization charges |  |  | (12.3) |
Gain on the sale of certain assets |  |  | 1.8 |
CEO transition expenses |  |  | (18.5) |
Depreciation and amortization |  |  | (170.9) |
Interest expense |  |  | (83.6) |
Interest income |  |  | 7.7 |
Income before income taxes |  |  | $ | 342.2 |
Note 3 - Segment Information (continued) For the three months ended September 30, 2024:
| Engineered Bearings | Industrial Motion | Total
Net sales | $ | 740.7 |  | $ | 386.1 |  | $ | 1,126.8 |
Cost of products sold (1) | (526.0) |  | (253.7) |  |
Selling, general and administrative expenses (2) | (103.0) |  | (69.0) |  |
Other segment items (3) | 2.1 |  | (0.3) |  |
Depreciation and amortization (4) | 24.6 |  | 11.1 |  |
Adjusted EBITDA for reportable segments | $ | 138.4 |  | $ | 74.2 |  | $ | 212.6 |
Unallocated corporate expense |  |  | (22.6) |
Impairment, restructuring and reorganization charges |  |  | (3.1) |
Acquisition-related charges |  |  | (3.1) |
Gain on the sale of certain assets |  |  | 13.8 |
CEO transition expenses |  |  | (1.5) |
Property losses and related expenses |  |  | (0.9) |
Depreciation and amortization |  |  | (56.1) |
Interest expense |  |  | (30.3) |
Interest income |  |  | 3.4 |
Income before income taxes |  |  | $ | 112.2 |
For the nine months ended September 30, 2024:
| Engineered Bearings | Industrial Motion | Total
Net sales | $ | 2,326.6 |  | $ | 1,172.8 |  | $ | 3,499.4 |
Cost of products sold (1) | (1,604.9) |  | (765.2) |  |
Selling, general and administrative expenses (2) | (314.4) |  | (204.0) |  |
Other segment items (3) | 6.5 |  | (0.3) |  |
Depreciation and amortization (4) | 72.2 |  | 32.7 |  |
Adjusted EBITDA for reportable segments | $ | 486.0 |  | $ | 236.0 |  | $ | 722.0 |
Unallocated corporate expense |  |  | (55.4) |
Impairment, restructuring and reorganization charges |  |  | (11.9) |
Acquisition-related charges |  |  | (10.8) |
Gain on the sale of certain assets |  |  | 14.7 |
CEO transition expenses |  |  | (2.7) |
Property losses and related expenses |  |  | (1.1) |
Depreciation and amortization |  |  | (165.6) |
Interest expense |  |  | (97.1) |
Interest income |  |  | 11.3 |
Income before income taxes |  |  | $ | 403.4 |
(1) Cost of products sold excludes acquisition-related and reorganization charges. (2) Selling, general, and administrative expenses exclude acquisition-related charges and CEO transition expenses. (3) Other segment items are Other (expense) income, net and exclude the gain on the sale of certain assets. (4) Depreciation and amortization excludes acquisition intangible amortization and depreciation recognized in reorganization charges, if any. Note 3 - Segment Information (continued) The following tables provides additional segment financial information:
| September 30, 2025 |  | December 31, 2024
Assets by Segment: |  |  |
Engineered Bearings | $ | 3,284.2 |  |  | $ | 3,126.1 |
Industrial Motion | 3,014.9 |  |  | 2,822.6 |
Corporate (5) | 502.8 |  |  | 462.3 |
| $ | 6,801.9 |  |  | $ | 6,411.0 |
(5) Corporate assets include cash and cash equivalents and corporate buildings.
| Three Months Ended September 30, | Nine Months Ended September 30,
| 2025 |  | 2024 | 2025 |  | 2024
Capital expenditures: |  |  |  |  |  |
Engineered Bearings | $ | 26.3 |  |  | $ | 27.5 |  | $ | 72.5 |  |  | $ | 90.8 |
Industrial Motion | 10.7 |  |  | 7.3 |  | 32.7 |  |  | 25.1 |
Corporate | 0.3 |  |  | 0.2 |  | 0.4 |  |  | 0.5 |
| $ | 37.3 |  |  | $ | 35.0 |  | $ | 105.6 |  |  | $ | 116.4 |
Depreciation and amortization: |  |  |  |  |  |
Engineered Bearings | $ | 28.4 |  |  | $ | 27.5 |  | $ | 82.5 |  |  | $ | 81.0 |
Industrial Motion | 30.0 |  |  | 28.2 |  | 87.8 |  |  | 83.5 |
Corporate | 0.2 |  |  | 0.4 |  | 0.6 |  |  | 1.1 |
| $ | 58.6 |  |  | $ | 56.1 |  | $ | 170.9 |  |  | $ | 165.6 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration