In this study, an experimental methodology is presented to separate various components of the power loss of a gearbox. The methodology relies on two separate measurements. One is designed to measure total power loss of a gearbox housing a single spur gear pair under both loaded and unloaded conditions such that load-independent (spin) and load-dependent (mechanical) components can be separated. With the assumption that gear pair and rolling element bearings constitute the bulk of the gearbox power loss, a second measurement system designed to quantify rolling element bearing losses is proposed. With this setup, spin and mechanical power losses of rolling element bearings used in the gearbox experiments are measured. Combining the sets of gearbox and bearing data, power loss components attributable to the gear pair and rolling element bearings are quantified as a function of speed and torque. The results indicate that all gear and bearing related components are significant and a methodology such as the one proposed in this study is warranted.