v3.24.1.u1
Revenue (Tables)
 3 Months Ended
Mar. 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 three months ended March 31, 2024 and 2023:
Three Months EndedThree Months Ended
March 31, 2024March 31, 2023
Engineered BearingsIndustrial MotionTotalEngineered BearingsIndustrial MotionTotal
United States$335.1 $192.7 $527.8 $340.9 $194.3 $535.2 
Americas excluding the United States94.7 24.6 119.3 92.2 27.9 120.1 
Europe / Middle East / Africa169.5 142.6 312.1 183.9 113.8 297.7 
China71.7 16.3 88.0 158.4 16.3 174.7 
Asia-Pacific excluding China131.5 11.6 143.1 125.3 9.8 135.1 
Net sales$802.5 $387.8 $1,190.3 $900.7 $362.1 $1,262.8 

When reviewing revenue by sales channel, the Company separates net sales to original equipment manufacturers ("OEMs") from sales to distributors and end users. The following table presents the approximate percent of revenue by sales channel for the three months ended March 31, 2024 and 2023:
Three Months EndedThree Months Ended
Revenue by sales channelMarch 31, 2024March 31, 2023
Original equipment manufacturers60%60%
Distribution/end users40%40%
Schedule of Rollforward of Unbilled Receivables and Deferred Revenue
The following table contains a rollforward of unbilled receivables for the three months ended March 31, 2024 and the twelve months ended December 31, 2023:
March 31,
2024		December 31,
2023
Beginning balance, January 1$144.5 $103.9 
Additional unbilled revenue recognized78.7 424.1 
Less: amounts billed to customers(88.4)(383.5)
Ending balance$134.8 $144.5 
The following table contains a rollforward of deferred revenue for the three months ended March 31, 2024 and the twelve months ended December 31, 2023:
March 31,
2024		December 31,
2023
Beginning balance, January 1$45.4 $54.3 
Acquisitions— 1.4 
Revenue (cash) received in advance36.2 165.2 
Less: revenue recognized(30.5)(175.5)
Ending balance$51.1 $45.4