Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Segment financial information and a reconciliation of segment results to consolidated results follows:

	Years Ended December 31,
	2015			2014			2013
Revenue:
Energy	$	1,483,680		$	2,017,239		$	1,853,853
Engineered Systems	2,342,913			2,385,965			2,177,970
Fluids	1,399,273			1,430,566			1,236,838
Refrigeration & Food Equipment	1,731,430			1,921,189			1,887,840
Intra-segment eliminations	(985		)	(2,231		)	(1,405		)
Total consolidated revenue	$	6,956,311		$	7,752,728		$	7,155,096
Earnings from continuing operations:
Segment earnings:
Energy	$	173,190		$	461,815		$	459,649
Engineered Systems	376,961			386,998			347,497
Fluids	262,117			251,639			224,523
Refrigeration & Food Equipment	221,299			238,734			267,307
Total segments	1,033,567			1,339,186			1,298,976
Corporate expense / other (1)	105,700			117,800			132,336
Net interest expense	127,257			127,179			120,654
Earnings before provision for income taxes and discontinued operations	800,610			1,094,207			1,045,986
Provision for taxes	204,729			316,067			248,459
Earnings from continuing operations	$	595,881		$	778,140		$	797,527
Operating margins:
Energy	11.7		%	22.9		%	24.8		%
Engineered Systems	16.1		%	16.2		%	16.0		%
Fluids	18.7		%	17.6		%	18.2		%
Refrigeration & Food Equipment	12.8		%	12.4		%	14.2		%
Total Segments	14.9		%	17.3		%	18.2		%
Earnings from continuing operations	8.6		%	10.0		%	11.1		%
Depreciation and amortization:
Energy	$	141,779		$	111,956		$	99,075
Engineered Systems	59,914			61,946			59,058
Fluids	56,078			60,903			48,812
Refrigeration & Food Equipment	66,074			68,701			67,228
Corporate	3,244			3,682			3,860
Consolidated total	$	327,089		$	307,188		$	278,033
Capital expenditures:
Energy	$	33,692		$	66,998		$	60,756
Engineered Systems	37,109			29,749			29,145
Fluids	45,605			34,319			21,868
Refrigeration & Food Equipment	33,511			33,510			27,173
Corporate	4,334			1,457			2,752
Consolidated total	$	154,251		$	166,033		$	141,694

(1) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, and various administrative expenses relating to the corporate headquarters.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Selected financial information by market segment (continued): 

Total assets at December 31:	2015		2014
Energy	$	2,369,600	$	2,640,731
Engineered Systems	2,741,594		2,346,148
Fluids	1,529,333		1,421,717
Refrigeration & Food Equipment	1,482,315		1,478,433
Corporate (2)	496,921		816,091
Total assets - continuing operations	8,619,763		8,703,120
Assets from discontinued operations	—		327,171
Consolidated total	$	8,619,763	$	9,030,291

(2) Corporate assets are principally cash and cash equivalents. Also included in corporate assets is an asset of $25,150 and $25,800 in 2015 and 2014, respectively, that represents the overfunded plan status of the U.S. defined benefit plan. Refer to Note 14 Employee Benefit Plans for additional information.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	Revenue						Long-Lived Assets
	Years Ended December 31,						At December 31,
	2015		2014		2013		2015		2014
United States	$	4,270,061	$	4,617,813	$	4,202,434	$	622,892	$	599,688
Europe	1,059,413		1,251,625		1,112,279		150,950		136,599
Other Americas	637,533		794,966		803,741		32,137		39,971
Asia	626,761		686,511		607,873		38,826		42,775
Other	362,543		401,813		428,769		9,464		18,036
Consolidated total	$	6,956,311	$	7,752,728	$	7,155,096	$	854,269	$	837,069

Revenue is attributed to regions based on the location of the Company’s customer, which in some instances is an intermediary and not necessarily the end user. Long-lived assets are comprised of net property, plant and equipment. The Company’s businesses are based primarily in the United States of America, Europe, and Asia. The Company’s businesses serve thousands of customers, none of which accounted for more than 10% of consolidated revenue.