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Pay vs Performance Disclosure - USD ($)
 1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 14, 2020
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
Pay Versus Performance
The following table sets forth information regarding the Company’s performance and the “compensation actually paid” to our NEOs, as calculated in accordance with SEC disclosure rules:
 
    
Summary
Compensation
Table Total
for Eric D.
Ashleman
(PEO)
($)(2)
    
Compensation
Actually Paid
to Eric D.
Ashleman
(PEO)
($)(3)
    
Summary
Compensation
Table Total
for Andrew K.
Silvernail
(PEO)
($)(2)
    
Compensation
Actually Paid
to Andrew K.
Silvernail
(PEO)
($)(3)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs
($)(2)
    
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
($)(3)
    
Value of
Initial Fixed
$100
Investment
Based On: (4)
    
Net
Income
($000,000)
    
Adjusted
EBITDA
($000,000)
(6)
  
Year
(1)
  
TSR
($)
    
Peer
Group
TSR
($)(5)
  
2023
     7,758,876       2,066,071       N/A       N/A       1,848,761       655,908       132       174       596.1       899.6  
2022
     7,495,227       11,439,171       N/A       N/A       2,396,496       2,058,991       137       132       586.9       884.2  
2021
     6,719,772       9,849,418       N/A       N/A       1,743,998       2,463,917       140       150       449.4       765.4  
2020
     3,407,839       5,952,238       8,890,861       (14,813,422 )      1,709,129       2,782,284       117       116       377.8       622.9  
 
(1)
The Principal Executive Officer (“PEO”) and NEOs for the applicable years were as follows:
 
  •  
2023:
Mr. Ashleman
served as the PEO for the entirety of 2023. The Company’s other NEOs for 2023 were: Abhishek Khandelwal, Lisa M. Anderson, Roopa Unnikrishnan, Melissa S. Flores, Allison S. Lausas, William K. Grogan; and Marc Uleman.
 
  •  
2022: Mr. Ashleman served as the PEO for the entirety of 2022. The Company’s other NEOs for 2022 were: William K. Grogan; Melissa Aquino; Marc Uleman; and Lisa M. Anderson.
 
  •  
2021: Mr. Ashleman served as the PEO for the entirety of 2021. The Company’s other NEOs for 2021 were: William K. Grogan; Denise R. Cade; Melissa S. Flores; Daniel J. Salliotte; and Michael J. Yates.
 
  •  
2020: Mr. Ashleman was appointed PEO effective December 15, 2020, and
Mr. Silvernail
served as PEO prior to Mr. Ashleman’s appointment. The Company’s other NEOs for 2020 were: William K. Grogan; Denise R. Cade; Jeffrey D. Bucklew; and Daniel J. Salliotte.
 
(2)
Amounts reported in this column represent (i) the total compensation reported in the Summary Compensation Table for the applicable year in which the NEO served as PEO in the case of Messrs. Ashleman and Silvernail and (ii) the average of the total compensation reported in the Summary Compensation Table for the applicable year for the Company’s other NEOs reported for the applicable year.
(3)
To calculate the compensation actually paid (“CAP”), adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for Messrs. Ashleman and Silvernail and for the average of the other NEOs is set forth following the footnotes to this table.
(4)
Pursuant to rules of the SEC, the comparison assumes $100 was invested on December 31, 2019. Historic stock price performance is not necessarily indicative of future stock price performance.
(5)
The TSR Peer Group consists of the S&P 400 Midcap Industrials Sector Index, an independently prepared index (and which is used for the Company’s stock performance chart in the Annual Report on Form 10-K for the year ended December 31, 2023).
(6)
As noted in “Compensation Discussion and Analysis,” the Compensation Committee selected Adjusted EBITDA as a key metric for evaluating and rewarding management’s performance in the 2023 incentive program design. This measure is used to determine the payout of 40% of the 2023 MICP awards. Adjusted EBITDA is a non-GAAP financial measure and is calculated based on the Company’s earnings before interest, taxes, depreciation and amortization, adjusted to exclude the impact of acquisitions and divestitures and actual capital expenditures. A reconciliation from GAAP to non-GAAP financial measures and other related information is included in Item 7 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
     
Company Selected Measure Name     Adjusted EBITDA      
Named Executive Officers, Footnote    
(1)
The Principal Executive Officer (“PEO”) and NEOs for the applicable years were as follows:
 
  •  
2023:
Mr. Ashleman
served as the PEO for the entirety of 2023. The Company’s other NEOs for 2023 were: Abhishek Khandelwal, Lisa M. Anderson, Roopa Unnikrishnan, Melissa S. Flores, Allison S. Lausas, William K. Grogan; and Marc Uleman.
 
  •  
2022: Mr. Ashleman served as the PEO for the entirety of 2022. The Company’s other NEOs for 2022 were: William K. Grogan; Melissa Aquino; Marc Uleman; and Lisa M. Anderson.
 
  •  
2021: Mr. Ashleman served as the PEO for the entirety of 2021. The Company’s other NEOs for 2021 were: William K. Grogan; Denise R. Cade; Melissa S. Flores; Daniel J. Salliotte; and Michael J. Yates.
 
  •  
2020: Mr. Ashleman was appointed PEO effective December 15, 2020, and
Mr. Silvernail
served as PEO prior to Mr. Ashleman’s appointment. The Company’s other NEOs for 2020 were: William K. Grogan; Denise R. Cade; Jeffrey D. Bucklew; and Daniel J. Salliotte.
     
Peer Group Issuers, Footnote     The TSR Peer Group consists of the S&P 400 Midcap Industrials Sector Index, an independently prepared index (and which is used for the Company’s stock performance chart in the Annual Report on Form 10-K for the year ended December 31, 2023).      
Adjustment To PEO Compensation, Footnote    
The following tables sets forth the detailed calculation from SCT Total to Compensation Actually Paid for the PEOs and NEOs:
 
   
 
Eric D. Ashleman
 
Prior FYE
  
 
12/31/2019
 
  
 
12/31/2020
 
  
 
12/31/2021
 
  
 
12/31/2022
 
Current FYE
  
 
12/31/2020
 
  
 
12/31/2021
 
  
 
12/31/2022
 
  
 
12/31/2023
 
Fiscal Year
  
 
2020
 
  
 
2021
 
  
 
2022
 
  
 
2023
 
SCT Total
     $3,407,839       $6,719,772       $7,495,227       $7,758,876  
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
     ($2,006,979 )      ($4,174,035 )      ($4,598,330 )      ($5,618,356 ) 
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
     $2,659,808       $6,194,944       $8,424,336       $4,453,992  
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
     $1,362,544       $1,050,803       $865,977       ($4,529,994 ) 
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0       $0       $0       $0  
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     $443,050       $21,243       ($916,830 )      ($93,950 ) 
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     $0       $0       $0       $0  
+ Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting
     $85,976       $36,691       $168,791       $95,503  
Compensation Actually Paid
  
 
$5,952,238
 
  
 
$9,849,418
 
  
 
$11,439,171
 
  
 
$2,066,071
 
 
   
 
Andrew K. Silvernail
 
Prior FYE
  
 
12/31/2019
 
Current FYE
  
 
12/31/2020
 
Fiscal Year
  
 
2020
 
SCT Total
     $8,890,861  
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
     ($6,277,937 ) 
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
     $0  
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
     $0  
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
     $0  
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
     ($295,496 ) 
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
     ($17,130,850 ) 
+ Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting
   $ 0  
Compensation Actually Paid
  
 
($14,813,422
) 
      
Non-PEO NEO Average Total Compensation Amount     $ 1,848,761 $ 2,396,496 $ 1,743,998 $ 1,709,129
Non-PEO NEO Average Compensation Actually Paid Amount     $ 655,908 2,058,991 2,463,917 2,782,284
Adjustment to Non-PEO NEO Compensation Footnote    
    
 
Non-PEO NEOs
 
Prior FYE
   
 
12/31/2019
 
   
 
12/31/2020
 
   
 
12/31/2021
 
   
 
12/31/2022
 
Current FYE
   
 
12/31/2020
 
   
 
12/31/2021
 
   
 
12/31/2022
 
   
 
12/31/2023
 
Fiscal Year
   
 
2020
 
   
 
2021
 
   
 
2022
 
   
 
2023
 
SCT Total
      $1,709,129        $1,743,998        $2,396,496        $1,848,761  
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
      ($853,306 )       ($727,995 )       ($1,537,000 )       ($1,045,073 ) 
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
      $1,130,856        $1,080,430        $1,212,682        $763,785  
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
      $548,525        $359,737        $166,194        ($242,297 ) 
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
      $0        $0        $0        $0  
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
      $225,012        ($2,016 )       ($209,489 )       ($10,109 ) 
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
      $0        $0        $0        ($665,779 ) 
+ Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting
      $22,068        $9,763        $30,108        $6,620  
Compensation Actually Paid
   
 
$2,782,284
 
   
 
$2,463,917
 
   
 
$2,058,991
 
   
 
$655,908
 
      
Compensation Actually Paid vs. Total Shareholder Return    
LOGO
     
Compensation Actually Paid vs. Net Income    
LOGO
     
Compensation Actually Paid vs. Company Selected Measure    
LOGO
     
Total Shareholder Return Vs Peer Group    
LOGO
     
Tabular List, Table    
Tabular List of Financial Performance Measures
The following is a list of financial performance measures, which in our assessment represent the most important financial performance measures used by the Company to link compensation actually paid to the NEOs for 2023. In addition to these metrics, the Company’s MICP includes performance goals relating to Sustainability initiatives in order to emphasize those initiatives as priorities throughout the organization. Please see the “Compensation Discussion and Analysis” for a further description of the metrics used in the Company’s executive compensation program.
 
1.
Total Shareholder Return
 
2.
Relative TSR percentile ranking as compared to companies in the S&P 500 Index
 
3.
Adjusted EBITDA
      
Total Shareholder Return Amount     $ 132 137 140 117
Peer Group Total Shareholder Return Amount     174 132 150 116
Net Income (Loss)     $ 596,100,000 $ 586,900,000 $ 449,400,000 $ 377,800,000
Company Selected Measure Amount     899,600,000 884,200,000 765,400,000 622,900,000
Measure:: 1            
Pay vs Performance Disclosure            
Name     Total Shareholder Return      
Measure:: 2            
Pay vs Performance Disclosure            
Name     Relative TSR percentile ranking as compared to companies in the S&P 500 Index      
Measure:: 3            
Pay vs Performance Disclosure            
Name     Adjusted EBITDA      
Non-GAAP Measure Description     Adjusted EBITDA is a non-GAAP financial measure and is calculated based on the Company’s earnings before interest, taxes, depreciation and amortization, adjusted to exclude the impact of acquisitions and divestitures and actual capital expenditures. A reconciliation from GAAP to non-GAAP financial measures and other related information is included in Item 7 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.      
Mr. Ashleman [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 7,758,876 $ 7,495,227 $ 6,719,772 $ 3,407,839
PEO Actually Paid Compensation Amount     $ 2,066,071 $ 11,439,171 $ 9,849,418 5,952,238
PEO Name Mr. Ashleman   Mr. Ashleman Mr. Ashleman Mr. Ashleman  
Mr. Silvernail [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount           8,890,861
PEO Actually Paid Compensation Amount           (14,813,422)
PEO Name   Mr. Silvernail        
PEO | Mr. Ashleman [Member] | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ (5,618,356) $ (4,598,330) $ (4,174,035) (2,006,979)
PEO | Mr. Ashleman [Member] | Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     4,453,992 8,424,336 6,194,944 2,659,808
PEO | Mr. Ashleman [Member] | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (4,529,994) 865,977 1,050,803 1,362,544
PEO | Mr. Ashleman [Member] | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Ashleman [Member] | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (93,950) (916,830) 21,243 443,050
PEO | Mr. Ashleman [Member] | Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Ashleman [Member] | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     95,503 168,791 36,691 85,976
PEO | Mr. Silvernail [Member] | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           (6,277,937)
PEO | Mr. Silvernail [Member] | Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           0
PEO | Mr. Silvernail [Member] | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           0
PEO | Mr. Silvernail [Member] | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           0
PEO | Mr. Silvernail [Member] | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           (295,496)
PEO | Mr. Silvernail [Member] | Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           (17,130,850)
PEO | Mr. Silvernail [Member] | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           0
Non-PEO NEO | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,045,073) (1,537,000) (727,995) (853,306)
Non-PEO NEO | Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     763,785 1,212,682 1,080,430 1,130,856
Non-PEO NEO | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (242,297) 166,194 359,737 548,525
Non-PEO NEO | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (10,109) (209,489) (2,016) 225,012
Non-PEO NEO | Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (665,779) 0 0 0
Non-PEO NEO | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 6,620 $ 30,108 $ 9,763 $ 22,068