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Reportable Segments (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Reportable and Product Sales Information Segments
Segment Financial Information
 Three Months Ended September 30, 2023
 Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$159.0 $232.5 $240.0 $271.3 $(4.9)$— $897.9 
Depreciation and amortization expense7.8 7.4 5.7 45.1 — 1.0 67.0 
Operating income (loss) (1) (2)
17.1 43.4 33.7 42.3 — (32.1)104.4 
Three Months Ended September 30, 2022
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateConsolidated
Sales$126.9 $132.1 $108.1 $49.7 $(4.7)$— $412.1 
Depreciation and amortization expense4.0 7.2 4.3 4.2 — 0.5 20.2 
Operating income (loss) (1) (2)
12.2 18.3 16.7 12.0 — (17.5)41.7 
Nine Months Ended September 30, 2023
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateTotal
Sales$435.2 $636.0 $602.9 $688.5 $(25.1)$— $2,337.5 
Depreciation and amortization expense17.2 24.6 17.9 100.8 — 2.7 163.2 
Operating income (loss) (1) (2)
31.9 120.5 84.6 121.0 — (123.3)234.7 
Nine Months Ended September 30, 2022
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsCorporateTotal
Sales$377.9 $314.3 $330.9 $154.4 $(6.5)$— $1,171.0 
Depreciation and amortization expense12.2 22.3 13.6 12.7 — 1.6 62.4 
Operating income (loss) (1) (2)
36.2 23.8 53.7 32.3 — (54.6)91.4 
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(1)Restructuring costs/(credits) for the:
three months ended September 30, 2023 were $4.2 ($2.3 - Corporate, $0.9 - Repair, Service & Leasing, $0.5 - Heat Transfer Systems, $0.4 - Specialty Products and $0.1 - Cryo Tank Solutions).
three months ended September 30, 2022 were $(1.4) ($(1.3) - Repair, Service & Leasing and $(0.1) - Specialty Products).
nine months ended September 30, 2023 were $11.2 ($6.0 - Corporate, $2.4 - Repair, Service and Leasing, $1.2 - Cryo Tank Solutions, $0.9 - Specialty Products and $0.7 - Heat Transfer Systems).
nine months ended September 30, 2022 were $(1.1) ($(1.3) - Repair, Service & Leasing, $0.1 - Cryo Tank Solutions and $0.1 - Heat Transfer Systems).
(2)Acquisition-related contingent consideration credits in our Specialty Products Segment were related to our 2020 acquisitions of Sustainable Energy Solutions, Inc. (“SES”) and BlueInGreen, LLC (“BIG”) and for the Maintenance Partners NV, assumed as part of the Howden acquisition:
three months ended September 30, 2023 were $(2.3).
three months ended September 30, 2022 were $(1.7).
nine months ended September 30, 2023 were $(8.8).
nine months ended September 30, 2022 were $(2.7).
Sales by Geography
Three Months Ended September 30, 2023
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$71.3 $150.6 $84.2 $78.5 $(2.0)$382.6 
Europe, Middle East, Africa and India52.7 31.0 68.0 130.2 (1.7)280.2 
Asia-Pacific33.5 46.7 83.2 52.5 (1.1)214.8 
Rest of the World1.5 4.2 4.6 10.1 (0.1)20.3 
Total$159.0 $232.5 $240.0 $271.3 $(4.9)$897.9 
Three Months Ended September 30, 2022
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$61.6 $103.3 $74.5 $40.2 $(2.3)$277.3 
Europe, Middle East, Africa and India41.1 12.8 26.0 6.8 (1.5)85.2 
Asia-Pacific23.5 15.7 7.3 2.5 (0.8)48.2 
Rest of the World0.7 0.3 0.3 0.2 (0.1)1.4 
Total$126.9 $132.1 $108.1 $49.7 $(4.7)$412.1 
Nine Months Ended September 30, 2023
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$198.5 $432.9 $238.1 $224.9 $(11.2)$1,083.2 
Europe, Middle East, Africa and India148.7 76.8 170.2 305.0 (8.7)692.0 
Asia-Pacific84.1 111.7 183.3 133.8 (4.8)508.1 
Rest of the World3.9 14.6 11.3 24.8 (0.4)54.2 
Total$435.2 $636.0 $602.9 $688.5 $(25.1)$2,337.5 
Nine Months Ended September 30, 2022
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingIntersegment EliminationsConsolidated
North America$151.9 $232.9 $221.1 $110.7 $(3.5)$713.1 
Europe, Middle East, Africa and India138.7 48.5 82.5 26.1 (1.8)294.0 
Asia-Pacific83.2 31.4 26.9 16.4 (1.1)156.8 
Rest of the World4.1 1.5 0.4 1.2 (0.1)7.1 
Total$377.9 $314.3 $330.9 $154.4 $(6.5)$1,171.0 
Schedule of Segment Assets
September 30,
2023
December 31,
2022
Cryo Tank Solutions$612.5 $382.0 
Heat Transfer Systems673.2 298.6 
Specialty Products820.8 429.8 
Repair, Service & Leasing818.4 182.1 
Total assets of reportable segments2,924.9 1,292.5 
Goodwill2,809.3 992.0 
Identifiable intangible assets, net2,812.2 535.3 
Corporate473.8 2,830.7 
Insurance receivable, net of tax— 251.4 
Total$9,020.2 $5,901.9 
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(1)See Note 7, “Goodwill and Intangible Assets,” for further information related to goodwill and identifiable intangible assets, net.