XML 53 R43.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Revenue and earnings from continuing operations by market segment
Segment financial information and a reconciliation of segment results to consolidated results were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenue:  
Engineered Products$514,436 $442,091 $1,002,083 $870,218 
Clean Energy & Fueling494,075 437,042 952,470 826,720 
Imaging & Identification275,951 294,076 548,206 578,404 
Pumps & Process Solutions441,127 428,701 876,322 823,078 
Climate & Sustainability Technologies434,164 430,506 833,242 802,583 
Intersegment eliminations(1,038)(740)(1,707)(1,426)
Total consolidated revenue$2,158,715 $2,031,676 $4,210,616 $3,899,577 
Net earnings: 
Segment earnings:
  
Engineered Products$81,671 $71,255 $152,801 $147,939 
Clean Energy & Fueling99,034 93,430 171,996 173,002 
Imaging & Identification61,392 66,565 119,990 130,183 
Pumps & Process Solutions138,048 146,759 284,665 275,654 
Climate & Sustainability Technologies64,181 56,905 117,790 100,380 
Total segment earnings444,326 434,914 847,242 827,158 
Purchase accounting expenses (1)
47,019 35,162 100,305 70,678 
Restructuring and other costs (2)
7,944 10,779 18,496 14,941 
Loss on dispositions (3)
— — 194 — 
Corporate expense / other (4)
27,967 39,910 65,371 77,083 
Interest expense26,989 26,661 53,541 53,484 
Interest income(949)(942)(1,724)(1,622)
Earnings before provision for income taxes335,356 323,344 611,059 612,594 
Provision for income taxes45,738 58,836 95,288 115,317 
Net earnings$289,618 $264,508 $515,771 $497,277 
(1) Purchase accounting expenses are primarily comprised of amortization of intangible assets and charges related to fair value step-ups for acquired inventory sold during the period.
(2) Restructuring and other costs relate to actions taken for employee reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Restructuring$4,309 $9,436 $12,466 $15,871 
Other costs (benefits), net3,635 1,343 6,030 (930)
Restructuring and other costs$7,944 $10,779 $18,496 $14,941 
(3) Loss on disposition includes working capital adjustments related to dispositions.
(4) 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, shared business services overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.
Schedule of Restructuring and Other Cost
The Company's restructuring charges by segment were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Engineered Products$524 $4,339 $981 $8,330 
Clean Energy & Fueling1,423 1,415 1,619 1,464 
Imaging & Identification344 174 1,535 864 
Pumps & Process Solutions1,476 904 2,161 887 
Climate & Sustainability Technologies159 2,283 5,875 3,344 
Corporate383 321 295 982 
Total$4,309 $9,436 $12,466 $15,871 
These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services$1,037 $4,839 $1,244 $8,746 
Selling, general and administrative expenses3,272 4,597 11,222 7,125 
Total$4,309 $9,436 $12,466 $15,871 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
The following table presents revenue disaggregated by geography based on the location of the Company's customers:
Three Months Ended June 30,Six Months Ended June 30,
Revenue by geography2022202120222021
United States$1,253,061 $1,091,015 $2,404,561 $2,127,029 
Europe458,263 459,074 905,828 904,369 
Asia229,116 236,008 458,502 428,115 
Other Americas149,728 171,891 301,320 302,068 
Other68,547 73,688 140,405 137,996 
Total$2,158,715 $2,031,676 $— $4,210,616 $3,899,577