This is called the metering package. It will not be torn apart here because it works fine. This is covered in the book and it will need to be shimmed when reinstalled if it is disassembled. The brown ring near the center is the commutator seal and it will be replaced with a new one that is in the kit.
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Next is the thrust bearing spacer and bearing.
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Here is the other seal and spacer that gets replaced.
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All that is left is the retaining ring, plate and washer. Once that is removed the shaft will come out of the tube.
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ADMIN NOTE:
This thread is excerpted from a rebuild thread that was done by Oak, only the pertinent posts were used in this thread. Re-assembly is reverse order of disassembly. No pics provided for reassembly. Thanks Todd for the good write up.