We are a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness.

Our acquisition activity, driven by our strategic vision, has enabled us to diversify our product offerings and the markets we serve and expand our geographic presence. Prior to 2016, we operated primarily in the Hydraulics market with a small presence in electronics.

2022 Second Quarter Results and Comparison of the Three and Six Months Ended

(in millions except per share data)

$ (0.7 ) (2.3 )% Diluted net income per share $ 0.92 $ 0.95 $ (0.03 ) (3.2 )%

Diluted net income per share $ 1.86 $ 1.65 $ 0.21

The following table sets forth the results of operations for the Hydraulics segment (in millions):

The following table presents net sales based on the geographic region of the sale for the Hydraulics segment (in millions):

The following table sets forth the results of operations for the Electronics segment (in millions):

The following table presents net sales based on the geographic region of the sale for the Electronics segment (in millions):

The following table summarizes our cash flows for the periods (in millions):

We do not engage in any off-balance sheet financing arrangements. In particular, we do not have any material interest in variable interest entities, which include special purpose entities and structured finance entities.

Critical Accounting Policies and Estimates

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