REGAL REXNORD CORP
For the period ended Mar 31, 2025. Filed May 6, 2025.
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Mar 31, 2025 · Filed May 6, 2025
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3. Divestitures
- DIVESTITURES
Industrial Systems Divestiture
On September 23, 2023, the Company signed an agreement to sell its industrial motors and generators businesses which represented the substantial majority of the Industrial Systems operating segment.
The transaction closed on April 30, 2024 for a total purchase price of $444.0 million. The Company recognized a cumulative loss of $95.4 million on the sale of the industrial motors and generators businesses, of which $21.5 million was recognized during the three months ended March 31, 2024. The Loss on Sale of Businesses in the Condensed Consolidated Statements of Income was primarily related to foreign currency translation losses that were reclassified out of accumulated other comprehensive income into earnings at the closing of the transaction.
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