Segment Results (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Results

The following table provides summarized information about the Company’s operations by reportable segment and reconciles Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes for the three month periods ended March 31, 2022 and 2021.

	For the Three Month Period Ended March 31,
	2022		2021
Revenue
Industrial Technologies and Services	$	1,039.6	$	913.8
Precision and Science Technologies	297.4		215.7
Total Revenue	$	1,337.0	$	1,129.5
Segment Adjusted EBITDA
Industrial Technologies and Services	$	247.4	$	211.5
Precision and Science Technologies	85.1		67.2
Total Segment Adjusted EBITDA	$	332.5	$	278.7
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Corporate expenses not allocated to segments	$	28.9	$	34.7
Interest expense	19.0		23.1
Depreciation and amortization expense (a)	107.5		104.5
Restructuring and related business transformation costs (b)	14.2		2.7
Acquisition and other transaction related expenses and non-cash charges (c)	9.5		10.5
Stock-based compensation	19.8		21.6
Foreign currency transaction losses (gains), net	(3.8)		(18.1)
Other adjustments (d)	(5.2)		(1.0)
Income from Continuing Operations Before Income Taxes	142.6		100.7
Provision for income taxes	32.4		10.6
Loss on equity method investments	(4.3)		—
Income from Continuing Operations	105.9		90.1
Loss from discontinued operations, net of tax	(1.4)		(180.2)
Net Income (Loss)	$	104.5	$	(90.1)

a)Depreciation and amortization expense excludes $1.0 million of depreciation of rental equipment for both of the three month periods ended March 31, 2022 and 2021.

b)Restructuring and related business transformation costs consist of the following.

	For the Three Month Period Ended March 31,
	2022		2021
Restructuring charges	$	12.5	$	2.4
Facility reorganization, relocation and other costs	1.7		—
Other, net	—		0.3
Total restructuring and related business transformation costs	$	14.2	$	2.7

c)Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.

d)Includes (i) pension and other postemployment (“OPEB”) plan costs other than service cost, (ii) certain legal and compliance costs and (iii) other miscellaneous adjustments.