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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segments and Geographic Information Segment and Geographic Information
Prior to October 1, 2020, the structure of our internal organization was divided into the following reportable segments, which were also our operating segments: D&S East, D&S West, E&C Cryogenics and E&C FinFans.
Effective October 1, 2020, we changed our reportable segments to the following four reportable segments, which are also our operating segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair Service & Leasing.
Our Cryo Tank Solutions segment, which has principal operations in the United States, Europe and Asia and primarily serves the geographic regions of the Americas, Europe, Middle East and Asia, supplies bulk, microbulk and mobile equipment
used in the storage, distribution, vaporization, and application of industrial gases. Our Heat Transfer Systems segment, which has principal operations in the United States, Europe and India and primarily serves the geographic regions of the Americas, Europe, Middle East and India, supplies mission critical engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases that span gas-to-liquid applications. Our Specialty Products segment with locations globally supplies products used in our specialty market applications including hydrogen, HLNG vehicle tanks, food and beverage, space exploration, lasers, cannabis and water treatment, amongst others. Our Repair, Service & Leasing segment, which includes repair and service centers globally, provides installation, service, repair, maintenance, and refurbishment of cryogenic products as well as global equipment leasing solutions.
Corporate includes operating expenses for executive management, accounting, tax, treasury, corporate development, human resources, information technology, investor relations, legal, internal audit, and risk management. Corporate support functions are not currently allocated to the segments. All prior period amounts presented in the tables below have been reclassified based on our current reportable segments.
We evaluate performance and allocate resources based on operating income as determined in our consolidated statements of income.
Segment Financial Information
 Year Ended December 31, 2020
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$415.8 $369.8 $242.6 $158.3 $(9.4)$— $1,177.1 
Depreciation and amortization expense18.5 48.3 4.8 10.9 — 2.0 84.5
Operating income (loss) (1) (2) (3)
52.5 11.2 60.7 30.3 — (62.5)92.2
 Year Ended December 31, 2019
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$409.9 $441.7 $207.9 $162.6 $(6.6)$— $1,215.5 
Depreciation and amortization expense19.5 42.0 4.9 9.7 — 1.6 77.7 
Operating income (loss) (1) (4)
25.7 17.7 48.1 27.9 — (67.4)52.0 
 Year Ended December 31, 2018
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$371.4 $289.8 $184.5 $160.4 $(2.2)$— $1,003.9 
Depreciation and amortization expense13.9 21.7 4.7 7.9 — 1.5 49.7 
Operating income (loss) (1) (5) (6)
41.1 8.7 44.8 21.2 — (51.3)64.5 
_______________    
(1)     Restructuring costs (credits) for the years ended:
•December 31, 2020 were $13.6 ($2.7 – Cryo Tank Solutions $7.4 – Heat Transfer Systems, $0.7 – Specialty Products, $0.2 – Repair, Service & Leasing and $2.6 – Corporate);
•December 31, 2019 were $15.6 ($9.1 – Cryo Tank Solutions, $4.5 – Heat Transfer Systems, $0.3 – Specialty Products, $1.5 – Repair, Service & Leasing and $0.2 – Corporate); and
•December 31, 2018 were $4.3 ($1.7 – Cryo Tank Solutions, $0.7 – Heat Transfer Systems, $(0.3) – Specialty Products, $(0.1) – Repair, Service & Leasing and $2.3 – Corporate).
(2)Includes transaction-related costs of $2.6 for the year ended December 31, 2020, which were mainly related to the Sustainable Energy Solutions, Inc., BlueInGreen, LLC and Alabama Trailers acquisitions.
(3)Includes $16.0 impairment of our trademarks and trade names indefinite-lived intangible assets related to the AXC business in our Heat Transfer Systems segment.
(4)Includes transaction-related costs of $5.4 for the years ended December 31, 2019, which were mainly related to the AXC acquisition. Includes transaction-related costs of $4.3 related to integration activities for previous acquisitions for the year ended December 31, 2019.
(5)Includes transaction-related costs of $2.1 recorded in Corporate for the year ended December 31, 2018.
(6)During the year ended December 31, 2018, we recorded net severance costs of $2.3 in Corporate primarily related to headcount reductions associated with a previous strategic realignment of our segment structure, which includes $1.8 in payroll severance costs partially offset by a $0.9 credit due to related share-based compensation forfeitures for 2018. Includes net severance costs of $1.4 related to the departure of our former CEO, which includes $3.2 in payroll severance costs partially offset by a $1.8 credit due to related share-based compensation forfeitures for 2018.
Sales by Geography
Net sales by geographic area are reported by the destination of sales.
 Year Ended December 31, 2020
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America (1)
$168.0 $259.4 $98.9 $111.2 $(4.4)$633.1 
Europe, Middle East, Africa and India165.3 39.3 121.8 38.1 (3.5)361.0 
Asia-Pacific (2)
76.1 69.3 21.4 8.4 (1.4)173.8 
Rest of the World6.4 1.8 0.5 0.6 (0.1)9.2 
Total$415.8 $369.8 $242.6 $158.3 $(9.4)$1,177.1 
Year Ended December 31, 2019
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America (1)
$173.6 $311.2 $100.4 $128.4 $(3.4)$710.2 
Europe, Middle East, Africa and India163.8 71.6 91.2 23.7 (2.2)348.1 
Asia-Pacific (2)
67.2 57.3 15.6 9.7 (0.9)148.9 
Rest of the World5.3 1.6 0.7 0.8 (0.1)8.3 
Total$409.9 $441.7 $207.9 $162.6 $(6.6)$1,215.5 
Year Ended December 31, 2018
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America (1)
$164.0 $237.1 $100.5 $122.6 $(1.0)$623.2 
Europe, Middle East, Africa and India120.0 24.1 65.2 30.0 (0.9)238.4 
Asia-Pacific (2)
83.8 27.2 18.3 7.1 (0.3)136.1 
Rest of the World3.6 1.4 0.5 0.7 — 6.2 
Total$371.4 $289.8 $184.5 $160.4 $(2.2)$1,003.9 
(1)     Consolidated sales in the United States were $576.8, $638.0 and $570.6 for the twelve month periods ending December 31, 2020, 2019 and 2018, respectively and represent 49.0%, 52.5% and 56.8% of consolidated sales for the same periods, respectively.
(2)    Consolidated sales in China were $100.7, $80.5 and $101.6 for the twelve months ended December 31, 2020, 2019 and 2018, respectively and represent 8.6%, 6.6% and 10.1% of consolidated sales for the same periods, respectively.
In both 2020 and 2019, no single customer accounted for more than 10% of consolidated sales. Sales to Linde exceeded 10% of consolidated sales in 2018 on a combined basis and represented approximately $119.9 or 11.9% of consolidated sales in 2018 (attributable to all of our segments).
Total Assets
Corporate assets mainly include cash and cash equivalents and long-term deferred income taxes as well as certain corporate-specific property, plant and equipment, net and certain investments. Our allocation methodology for property, plant and equipment, net of the reportable segments differs from our allocation method of depreciation expense of a reportable segment and therefore, depreciation expense does not entirely align with the related depreciable assets of the reportable segments. Furthermore, since finite-lived intangible assets are excluded from total assets of reportable segments while amortization expense is allocated to each of our reportable segments, amortization expense by segment inherently does not align with the related amortizable intangible assets of the reportable segments.
December 31,
20202019
Cryo Tank Solutions$399.2 $374.4 
Heat Transfer Systems247.2 328.9 
Specialty Products178.3 109.7 
Repair, Service & Leasing142.6 106.6 
Total assets of reportable segments967.3 919.6 
Goodwill (1)
865.9 811.4 
Identifiable intangible assets, net (1)
493.1 522.4 
Corporate244.2 159.4 
Discontinued operations— 68.6 
Total assets$2,570.5 $2,481.4 
_______________
(1)See Note 9, “Goodwill and Intangible Assets,” for further information related to goodwill and identifiable intangible assets, net.    
Geographic Information
 Property, plant and equipment, net as of December 31,
20202019
United States$223.9 $222.2 
Foreign
Italy69.9 56.4 
China61.5 64.2 
Czech Republic29.0 25.8 
Germany16.1 15.5 
India14.1 13.7 
Total Foreign190.6 175.6 
Total$414.5 $397.8