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, 2023
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Corporate		Consolidated
Sales	$	640.8	$	891.2	$	819.9	$	1,029.2	$	(28.6)	$	—	$	3,352.5
Depreciation and amortization expense	23.2		32.6		24.7		145.1		—		5.5		231.1
Operating income (loss) (1) (2)	54.5		175.8		119.7		203.3		—		(162.6)		390.7


	Year Ended December 31, 2022
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Corporate		Consolidated
Sales	$	504.3	$	462.7	$	448.3	$	209.6	$	(12.5)	$	—	$	1,612.4
Depreciation and amortization expense	16.7		29.3		16.4		17.1		—		2.4		81.9
Operating income (loss) (1) (2)	54.0		51.7		72.9		51.0		—		(78.1)		151.5


	Year Ended December 31, 2021
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Corporate		Consolidated
Sales	$	447.4	$	262.7	$	432.9	$	187.0	$	(12.3)	$	—	$	1,317.7
Depreciation and amortization expense	14.9		37.6		15.1		11.3		—		1.7		80.6
Operating income (loss) (1) (2)	52.9		(12.3)		94.1		23.3		—		(69.5)		88.5

_______________

•December 31, 2023 were $13.5 ($5.2 - Corporate, $4.0 – Repair, Service & Leasing, $1.8 – Specialty Products, $1.6 – Cryo Tank Solutions and $0.9 – Heat Transfer Systems);

•December 31, 2022 were $(1.0) ($(1.4) – Repair, Service & Leasing, $0.3 – Heat Transfer Systems and $0.1 – Cryo Tank Solutions); and

•December 31, 2021 were $3.5 ($1.7 – Heat Transfer Systems, $1.5 – Repair, Service & Leasing and $0.3 – Cryo Tank Solutions).

(2) Acquisition-related contingent consideration credits in our Specialty Products segment related to our 2020 acquisitions of Sustainable Energy Solutions, Inc. (“SES”) and BlueInGreen, LLC (“BIG”) and for Maintenance Partners NV in our Repair, Service and Leasing segment, assumed as part of the Howden Acquisition, for the years ended:

•December 31, 2023 were $(8.7) ($(8.5) – Specialty Products and $(0.2) – Repair, Service & Leasing); and


	Year Ended December 31, 2023
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Consolidated
North America (1)	$	309.5	$	594.0	$	307.6	$	317.6	$	(13.1)	$	1,515.6
Europe, Middle East, Africa and India	210.0		115.3		230.3		468.4		(9.9)		1,014.1
Asia-Pacific (2)	114.4		163.8		266.3		203.3		(5.1)		742.7
Rest of the World	6.9		18.1		15.7		39.9		(0.5)		80.1
Total	$	640.8	$	891.2	$	819.9	$	1,029.2	$	(28.6)	$	3,352.5


	Year Ended December 31, 2022
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Consolidated
North America (1)	$	214.8	$	323.5	$	302.2	$	147.0	$	(6.6)	$	980.9
Europe, Middle East, Africa and India	185.7		97.5		113.2		41.9		(3.9)		434.4
Asia-Pacific (2)	98.1		40.1		32.2		19.3		(1.8)		187.9
Rest of the World	5.7		1.6		0.7		1.4		(0.2)		9.2
Total	$	504.3	$	462.7	$	448.3	$	209.6	$	(12.5)	$	1,612.4


	Year Ended December 31, 2021
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Intersegment Eliminations		Consolidated
North America (1)	$	178.3	$	181.1	$	193.2	$	118.6	$	(5.4)	$	665.8
Europe, Middle East, Africa and India	155.2		28.6		204.1		36.4		(4.5)		419.8
Asia-Pacific (2)	109.9		51.6		33.9		30.6		(2.3)		223.7
Rest of the World	4.0		1.4		1.7		1.4		(0.1)		8.4
Total	$	447.4	$	262.7	$	432.9	$	187.0	$	(12.3)	$	1,317.7

_______________

(1) Consolidated sales in the United States were $1,387.7, $938.5 and $585.9 for the years ended December 31, 2023, 2022 and 2021, respectively and represent 41.4%, 58.2% and 44.5% of consolidated sales for the same periods, respectively.

(2) Consolidated sales in China were $460.9, $58.3 and $136.2 for the years ended December 31, 2023, 2022 and 2021, respectively and represent 13.7%, 3.6% and 10.3% of consolidated sales for the same periods, respectively.


	December 31,
	2023		2022
Cryo Tank Solutions	$	706.1	$	382.0
Heat Transfer Systems	560.7		298.6
Specialty Products	647.8		429.8
Repair, Service & Leasing	950.1		182.1
Total assets of reportable segments	2,864.7		1,292.5
Goodwill (1)	2,906.8		992.0
Identifiable intangible assets, net (1)	2,791.9		535.3
Corporate	539.0		2,830.7
Insurance receivable, net of tax	—		251.4
Total assets	$	9,102.4	$	5,901.9

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(1)See Note 9, “Goodwill and Intangible Assets,” for further information related to goodwill and identifiable intangible assets, net.