10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_____________________________________

FORM 10-Q

_____________________________________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 1-11442

_____________________________________

CHART INDUSTRIES, INC.

(Exact Name of Registrant as Specified in its Charter)

_____________________________________

Delaware	34-1712937
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

One Infinity Corporate Centre Drive, Suite 300, Garfield Heights, Ohio 44125

(Address of Principal Executive Offices) (ZIP Code)

Registrant’s Telephone Number, Including Area Code: (440) 753-1490

NOT APPLICABLE

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

_____________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

At April 26, 2012, there were 29,900,660 outstanding shares of the Company’s Common Stock, par value $0.01 per share.

CHART INDUSTRIES, INC.

INDEX

Part I. Financial Information
Item 1. Financial Statements	Page
Condensed Consolidated Balance Sheets as of March 31, 2012 and December 31, 2011	3
Condensed Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2012 and 2011	4
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2012 and 2011	5
Notes to Unaudited Condensed Consolidated Financial Statements	6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
Item 3. Quantitative and Qualitative Disclosures About Market Risk	25
Item 4. Controls and Procedures	25
Part II. Other Information
Item 1A. Risk Factors	26
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	26
Item 4. Mine Safety Disclosures	26
Item 6. Exhibits	26
Signatures	28

2

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except per share amounts)

	March 31, 2012		December 31, 2011
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	242,520	$	256,861
Accounts receivable, net	127,254		131,904
Inventories, net	167,855		149,822
Unbilled contract revenue	26,735		25,247
Prepaid expenses	9,199		7,088
Other current assets	32,194		26,707
Total Current Assets	605,757		597,629
Property, plant and equipment, net	141,952		137,301
Goodwill	289,436		288,770
Identifiable intangible assets, net	137,334		140,553
Other assets, net	9,908		10,222
TOTAL ASSETS	$	1,184,387	$	1,174,475
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term debt	$	4,761	$	4,758
Accounts payable	72,304		84,297
Customer advances and billings in excess of contract revenue	109,894		102,996
Accrued salaries wages, and benefits	21,284		29,108
Warranty reserve	12,197		13,181
Current portion of long-term debt	6,500		6,500
Other current liabilities	28,210		24,653
Total Current Liabilities	255,150		265,493
Long-term debt	223,837		223,224
Long-term deferred tax liability, net	45,841		43,945
Accrued pension liabilities	15,457		15,905
Other long-term liabilities	7,998		12,357
Equity
Chart Industries’ shareholders’ equity:
Common stock, par value $.01 per share – 150,000,000 shares authorized, 29,899,189 and 29,612,684 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	299		296
Additional paid-in capital	339,145		333,034
Retained earnings	288,799		274,716
Accumulated other comprehensive income	5,257		2,993
Total Chart Industries, Inc. shareholders’ equity	633,500		611,039
Noncontrolling interest	2,604		2,512
Total equity	636,104		613,551
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,184,387	$	1,174,475

The balance sheet at December 31, 2011 has been derived from the audited financial statements at that date, but does not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

See accompanying notes to these unaudited condensed consolidated financial statements. The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)

(Dollars and shares in thousands, except per share amounts)

	Three Months Ended March 31,
	2012			2011
Sales	$	216,106		$	162,941
Cost of sales	148,549			110,455
Gross profit	67,557			52,486
Selling, general and administrative expenses	40,626			34,862
Amortization expense	3,070			3,317
	43,696			38,179
Operating income	23,861			14,307
Other expenses (income):
Interest expense, net	3,962			3,934
Financing costs amortization	321			325
Foreign currency gains	(352		)	(759		)
	3,931			3,500
Income before income taxes	19,930			10,807
Income tax expense	5,778			3,404
Net income	14,152			7,403
Noncontrolling interest, net of tax	69			(127		)
Net income attributable to Chart Industries, Inc.	$	14,083		$	7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$	0.48		$	0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$	0.47		$	0.25
Weighted average number of common shares outstanding – basic	29,593			28,768
Weighted average number of common shares outstanding – diluted	30,061			29,678
Comprehensive income, net of tax	$	16,416		$	13,468
Less: Comprehensive income attributable to noncontrolling interest, net of tax	69			(127		)
Comprehensive income attributable to Chart Industries, Inc., net of tax	$	16,347		$	13,595

See accompanying notes to these unaudited condensed consolidated financial statements. The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

CHART INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

	Three Months Ended March 31,
	2012			2011
OPERATING ACTIVITIES
Net income	$	14,152		$	7,403
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	7,223			6,652
Interest accretion of convertible notes discount	2,238			—
Employee stock and stock option related compensation expense	2,505			1,401
Financing costs amortization	321			325
Foreign currency gains	(352		)	(759		)
Other non-cash operating activities	243			(291		)
Increase (decrease) in cash resulting from changes in operating assets and liabilities:
Accounts receivable	5,391			(2,648		)
Inventory	(17,074		)	(12,911		)
Unbilled contract revenues and other current assets	(1,662		)	(255		)
Accounts payable and other current liabilities	(27,619		)	(12,548		)
Customer advances and billings in excess of contract revenue	5,462			(7,207		)
Net Cash Used In Operating Activities	(9,172		)	(20,838		)
INVESTING ACTIVITIES
Capital expenditures	(6,345		)	(4,266		)
Other investing activities	—			388
Net Cash Used In Investing Activities	(6,345		)	(3,878		)
FINANCING ACTIVITIES
Principal payments on long-term debt	(1,625		)	(1,625		)
Proceeds from exercise of options	1,725			2,238
Tax benefit from exercise of stock options	6,355			2,452
Common stock repurchases	(4,473		)	(1,090		)
Net Cash Provided By Financing Activities	1,982			1,975
Effect of exchange rate changes on cash	(806		)	4,625
Net decrease in cash and cash equivalents	(14,341		)	(18,116		)
Cash and cash equivalents at beginning of period	256,861			165,112
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	242,520		$	146,996

See accompanying notes to these unaudited condensed consolidated financial statements. The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts)

NOTE A — Basis of Preparation

The accompanying unaudited condensed consolidated financial statements of Chart Industries, Inc. and its subsidiaries (the “Company” or “Chart”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for annual financial statements. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation. Investments in affiliates where the Company’s ownership is between 20 percent and 50 percent, or where the Company does not have control, but has the ability to exercise significant influence over operations or financial policy, are accounted for under the equity method.

Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Nature of Operations: The Company is a leading global manufacturer of standard and custom-engineered products and systems serving a wide variety of low-temperature and cryogenic applications. The Company has developed an expertise in cryogenic systems and equipment, which operate at low temperatures sometimes approaching absolute zero. The majority of the Company’s products, including vacuum insulated containment vessels, heat exchangers, cold boxes and other cryogenic components, are used throughout the liquid-gas supply chain for the purification, liquefaction, distribution, storage and end-use of industrial gases and hydrocarbons. The Company has domestic operations located across the United States, including the principal executive offices located in Ohio, and an international presence in Asia, Australia and Europe.

Reclassification: Certain reclassifications have been made to the 2011 condensed consolidated statement of cash flow in order to conform to the 2012 presentation.

Cost of Sales: Manufacturing expenses associated with sales are included in cost of sales. Cost of sales include all materials, direct and indirect labor, inbound freight, purchasing and receiving, inspection, internal transfers and distribution and warehousing of inventory. In addition, shop supplies, facility maintenance costs, manufacturing engineering, project management and depreciation expense for assets used in the manufacturing process are included in cost of sales.

Selling, general and administrative costs (“SG&A”): SG&A includes selling, marketing, customer service, product management, design engineering, and other administrative costs not directly supporting the manufacturing process as well as depreciation expense associated with non-manufacturing assets. In addition, SG&A includes corporate operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit, risk management and stock-based compensation expense.

Cash and Cash Equivalents: The Company considers all investments with an initial maturity of three months or less when purchased to be cash equivalents. The March 31, 2012 and December 31, 2011 balances include money market investments, certificates of deposit, and commercial paper. Chart Cryogenic Distribution Equipment (Changzhou) Company, Limited, a joint venture of the Company, held $988 in restricted cash on deposit to cover guarantees.

Short-Term Investments: From time to time, the Company invests in short-term, highly liquid, variable rate instruments, which have stated maturities of greater than three months but less than six months. These short term investments are recorded at cost which approximates fair value. The Company has determined that its investment securities are available and intended for use in current operations and, accordingly, classifies investment securities as current assets. There are no short term investments at March 31, 2012 or December 31, 2011.

6

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

Inventories: Inventories are stated at the lower of cost or market with cost being determined by the first-in, first-out (“FIFO”) method. The components of inventory are as follows:

	March 31, 2012		December 31, 2011
Raw materials and supplies	$	69,833	$	64,832
Work in process	41,093		36,045
Finished goods	56,929		48,945
	$	167,855	$	149,822

Revenue Recognition: For the majority of the Company’s products, revenue is recognized when products are shipped, title has transferred and collection is reasonably assured. For these products, there is also persuasive evidence of an arrangement and the selling price to the buyer is fixed or determinable. For brazed aluminum heat exchangers, cold boxes, liquefied natural gas fueling stations and engineered tanks, the Company uses the percentage of completion method of accounting. Earned revenue is based on the percentage of incurred costs to date compared to total estimated costs at completion after giving effect to the most current estimates. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known. Earned revenue reflects the original contract price adjusted for agreed upon claims and change orders, if any. Losses expected to be incurred on contracts in process, after consideration of estimated minimum recoveries from claims and change orders, are charged to operations as soon as such losses are known. Pre-contract costs relate primarily to salaries and benefits incurred to support the selling effort are expensed as incurred. Change orders resulting in additional revenue and profit are recognized upon approval by the customer based on the percentage of incurred costs to date compared to total estimated costs at completion. Certain contracts include incentive-fee arrangements. The incentive fees in such contracts can be based on a variety of factors but the most common are the achievement of target completion dates, target costs, and/or other performance criteria. Incentive fee revenue is not recognized until it is earned. Timing of amounts billed on contracts varies from contract to contract and could cause a significant variation in working capital requirements. The Company reports sales net of tax assessed by qualifying governmental authorities.

Product Warranties: The Company provides product warranties with varying terms and durations for the majority of its products. The Company calculates its warranty reserve by considering historical warranty experience and specifically identified warranty issues. The Company records warranty expense in cost of sales. The changes in the Company’s consolidated warranty reserve during the three months ended March 31, 2012 and 2011 are as follows:

	Three Months Ended March 31,
	2012			2011
Beginning balance	$	13,181		$	13,372
Warranty expense	989			2,171
Warranty usage	(1,973		)	(1,982		)
Ending balance	$	12,197		$	13,561

Goodwill and Other Intangible Assets: The Company does not amortize goodwill or other indefinite-lived intangible assets, but reviews them at least annually for impairment, and on an interim basis if necessary, using a measurement date of October 1st. The Company amortizes intangible assets that have finite lives over their useful lives.

With respect to goodwill, the Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The reporting units are the same as our operating segments, which are also the reportable segments: Energy & Chemicals, Distribution & Storage, and BioMedical. The Company first evaluates relevant events and circumstances, such as macroeconomic conditions and the Company's overall financial performance to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company then evaluates how significant each of the identified factors could be to the fair value or carrying amount of a reporting unit and weighs these factors in totality in forming a conclusion whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the first and second steps of the goodwill impairment test are not necessary. Otherwise, the Company would perform the first step of the two-step goodwill impairment test. As of October 1, 2011 and based on the Company's qualitative assessment, the Company determined that it was not more likely than not that the fair value is less than the carrying amount of each reporting unit and, therefore, the two-step goodwill impairment test was not necessary.

7

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

With respect to other indefinite-lived intangible assets, the Company determines the fair value of any indefinite-lived intangible assets using an income approach, compares the fair value to its carrying amount and records an impairment loss if the carrying amount exceeds its fair value. The Company uses the relief from royalty method to develop fair value estimates for trade names and trademarks. This method focuses on the level of royalty payments that the user of an intangible asset would be willing to pay for the use of the asset if it were not owned by the user. This method has been consistently applied between years. As of October 1, 2011, the Company determined that the fair values of trademarks, trade names, and in-process research and development exceeded their carrying amounts.

The following table displays the gross carrying amount and accumulated amortization for all intangible assets:

		March 31, 2012					December 31, 2011
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived assets:
Unpatented technology	9 years	$	18,229	$	(9,562	)	$	18,113	$	(9,024	)
Patents	10 years	8,978		(6,482		)	9,080		(5,434		)
Product names	14 years	5,674		(1,858		)	5,638		(1,818		)
Customer relations	13 years	130,614		(50,634		)	130,488		(48,840		)
		$	163,495	$	(68,536	)	$	163,319	$	(65,116	)
Indefinite-lived intangible assets:
Trademarks and trade names		$	39,305				$	39,280
In-process research and development		3,070					3,070
		$	42,375				$	42,350

The following table represents the changes in goodwill:

Balance as of January 1, 2012	$	288,770
Foreign currency adjustments	666
Balance as of March 31, 2012	$	289,436

Amortization expense for intangible assets subject to amortization was $3,070 and $3,317 for the three months ended March 31, 2012 and 2011, respectively, and is estimated to be approximately $13,300 for 2012 and an average of $10,800 for years 2013 through 2017.

Stock-based Compensation: The Company records stock-based compensation according to current accounting guidance which requires all share-based payments to employees and directors, including grants of employee stock options, to be measured at fair value on the date of grant.

During the three months ended March 31, 2012, the Company granted 104 stock options, 31 shares of restricted stock and stock unit awards and 34 performance stock units and leveraged restricted stock units. The stock options vest over a four year period. Restricted stock and stock unit awards vest over a three year period and performance stock units and leveraged restricted stock units vest at the end of three years based on the achievement of certain performance and market conditions.

During the three months ended March 31, 2012, participants in the Company's stock option plans exercised options to purchase 184 shares of the Company's common stock.

Stock-based compensation expense was $2,505 and $1,401 for the three months ended March 31, 2012 and 2011, respectively. As of March 31, 2012, the total stock-based compensation expected to be recognized over the weighted average period of approximately 2.1 years is $9,077.

Convertible Debt: The Company determines if the embedded conversion feature within the Convertible Senior Subordinated Notes (the “Convertible Notes”) is clearly and closely related to the Company’s common stock and therefore exempt from separate accounting treatment under ASC 815, “Accounting for Derivative Instruments and Hedging Activities.” Convertible Notes exempt from derivative accounting are recognized according to ASC 470-20, “Debt with Conversion and

8

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

Other Options” by bifurcating the principal balance into a liability component and an equity component where the fair value of the liability component is estimated by calculating the present value of its cash flows discounted at an interest rate that the Company would have received for similar debt instruments that have no conversion rights (the “straight-debt rate”), and the equity component is the residual amount, net of tax, which creates a discount on the Convertible Notes. The Company subsequently recognizes non-cash interest expense as the carrying value of the Convertible Notes is accreted back to its principal amount.

Recently Issued Accounting Pronouncements: In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-12, “Comprehensive Income – Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05 (Topic 220).” The amendments were made to allow the FASB time to consider whether there should be additional presentation and disclosure requirements for reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented. All other requirements in ASU 2011-05 are not affected by this update. This ASU is effective for fiscal years beginning after December 15, 2011. The adoption of this guidance did not have a material impact on the financial statements of the Company.

In September 2011, the FASB issued ASU 2011-09, “Compensation – Retirement Benefits – Multiemployer Plans (Subtopic 715-80).” The Company has historically participated in the multiemployer plan for union employees at the Company's La Crosse, Wisconsin facility. The amendments in the ASU require the Company to provide additional separate disclosures for multiemployer pension plans and multiemployer other postretirement benefit plans. The amendments are effective for fiscal years ending after December 15, 2011 and are applied retrospectively for all prior periods presented. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows.

In September 2011, the FASB issued ASU 2011-08, “Intangibles – Goodwill and Other (Topic 350).” The amendments in the ASU permit an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. If an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the first and second steps of the goodwill impairment test are not necessary. Otherwise, the entity would perform the first step of the two-step goodwill impairment test. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011. The Company early adopted the new guidance and its adoption did not have a material impact on the Company’s financial position, results of operations or cash flows.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220).” The amendments in the ASU revise the manner in which entities present comprehensive income in their financial statements. The new guidance removes the presentation options in Topic 220 and requires entities to report components of comprehensive income in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements. The amendments do not change the items that must be reported in other comprehensive income. This ASU is effective for fiscal years beginning after December 15, 2011. The adoption of this guidance did not have a material impact on the financial statements of the Company since the amendments affect financial statement presentation only.

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (Topic 820).” The amendments in the ASU aim to align the principles for fair value measurements and the related disclosure requirements in accordance with U.S. GAAP and IFRS. This ASU mainly contains clarifications such as the specification that the concepts of highest and best use and valuation premise in a fair value measurement are relevant only when measuring the fair value of nonfinancial assets and are not relevant when measuring the fair value of financial assets or of liabilities. The ASU also requires new disclosures under U.S. GAAP such as quantitative information about the unobservable inputs used in a fair value measurement that is categorized within the Level 3 of the fair value hierarchy. This ASU is effective during interim and annual periods beginning after December 15, 2011. Early adoption by public companies is not permitted. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows.

9

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

NOTE B — Fair Value Measurements

The Company measures assets and liabilities at fair value on a recurring basis in three levels of input. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is:

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company is exposed to foreign currency exchange risk as a result of transactions in currencies other than the functional currency of certain subsidiaries. The Company utilizes foreign currency forward purchase and sale contracts to manage the volatility associated with foreign currency purchases and certain intercompany transactions in the normal course of business. Contracts typically have maturities of less than one year. Principal currencies include the euro, British pound, and Czech koruna. The Company’s foreign currency forward contracts do not qualify as hedges as defined by accounting guidance. Changes in their fair value are recorded in the consolidated statement of income and comprehensive income as foreign currency gains or losses. The changes in fair value generated a net loss and net gain of $384 and $668 for the three months ended March 31, 2012 and 2011, respectively. As of March 31, 2012, the Company held forward currency contracts to sell (i) 13,700 euros against the U.S. dollar, (ii) 3,370 euros against the Czech koruna, (iii) 1,300 Polish złoty against the euro, (iv) 60,000 Japanese yen against the U.S. dollar, (v) 325 Australian dollars against the U.S. dollar, (vi) 925 British pounds against the U.S. dollar, (vii) 2,250 Norwegian kroner against the euro, and (viii) 4,700 Czech koruna against the U.S. dollar. As of March 31, 2012, the fair value of the Company’s derivative assets and liabilities representing foreign currency forward contracts was $44 and $282, respectively. These amounts were recorded in the unaudited condensed consolidated balance sheet as other current assets and liabilities. As of December 31, 2011, the Company held forward currency contracts to buy 17,500 Czech koruna against the euro and to sell (i) 11,500 euros against the U.S. dollar, (ii) 4,700 Czech koruna against the U.S. Dollar, (iii) 130,000 Japanese yen against the U.S. dollar, (iv) 3,340 euros against the Czech koruna, (v) 3,000 Norwegian kroner against the euro, and (vi) 250 British pounds against the U.S. dollar. As of December 31, 2011, the fair value of the Company’s derivative assets and liabilities representing foreign currency forward contracts was $489 and $191, respectively. These were recorded in the condensed consolidated balance sheet as other current assets and liabilities. The Company’s foreign currency forward contracts are not exchange traded instruments and, accordingly, are classified as being valued using Level 2 inputs which are based on observable inputs such as quoted prices for similar assets and liabilities in active markets.

The Company does not enter into derivative instruments for trading or speculative purposes.

The fair value of the Company’s term loan as described in Note C below is estimated based on the present value of the underlying cash flows discounted using market interest rates. Under this method, the fair value of the Company’s term loan was $44,659 and $45,426 as of March 31, 2012 and December 31, 2011, respectively. The Company’s term loan uses other inputs that are observable and, accordingly, are classified as being valued using Level 2 inputs.

The the fair value of the Convertible Notes exceeded its carrying amount by approximately 128% to 129% as of March 31, 2012 and approximately 107% to 108% as of December 31, 2011. The Convertible Notes are actively quoted instruments and, accordingly, are classified as being valued using Level 1 inputs. The fair value of the liability component of the Convertible Notes is based on the present value of its associated cash flows using a market interest rate for similar debt instruments without a conversion feature. The liability component of the Convertible Notes use quoted prices for similar liabilities in active markets and, accordingly, are classified as being valued using Level 2 inputs.

The estimated fair value of the contingent consideration relating to the acquisitions of Clever Fellows Innovation Consortium, Inc., SeQual Technologies, Inc., and Cryotech International, Inc. as of March 31, 2012 and December 31, 2011 was $7,584 and $7,067, respectively, valued according to a discounted cash flow approach, which includes assumptions for the probabilities of achieving the gross sales targets and the discount rate applied to the projected payments. The increase in fair value of the contingent consideration for the three months ended March 31, 2012 of $517 was recorded as selling, general and administrative expenses in the condensed consolidated statement of income and comprehensive income. The valuation of contingent consideration is classified as utilizing Level 3 inputs consistent with reasonably available assumptions which would be made by other market participants.

10

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

NOTE C — Debt and Credit Arrangements

In August 2011, the Company issued 2.00% Convertible Notes due 2018 in the aggregate principal amount of $250,000 in an offering registered under the Securities Act of 1933, as amended. The net proceeds from the offering were approximately $242,700 after deducting the underwriters’ discount and offering expenses. The Convertible Notes bear interest at a fixed rate of 2.00% per year, payable semiannually in arrears on February 1 and August 1 of each year which began on February 1, 2012. The Convertible Notes will mature on August 1, 2018.

The Convertible Notes are senior subordinated unsecured obligations of the Company and are not guaranteed by any of the Company’s subsidiaries. The Convertible Notes are subordinated in right of payment to the Company’s existing and future senior indebtedness, including indebtedness under the Company’s existing credit agreement, and rank equally in right of payment with any future senior subordinated debt. The Convertible Notes rank senior in right of payment to the Company’s future subordinated debt.

Prior to the close of business on the business day immediately preceding May 1, 2018, the Convertible Notes will be convertible at the option of the holders thereof only under the following circumstances: (1) during any fiscal quarter commencing after September 30, 2011 (and only during such fiscal quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price for the Convertible Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which, as determined following a request by a holder of Convertible Notes as provided in the bond indenture (the “Indenture”), the trading price per $1,000 principal amount of Convertible Notes for each trading day of such Measurement Period was less than 97% of the product of the last reported sale price of the Company’s common stock and the applicable conversion rate for the Convertible Notes on each such trading day; or (3) upon the occurrence of specified corporate events pursuant to the terms of the Indenture. On or after May 1, 2018, until the close of business on the second scheduled trading day immediately preceding the maturity date of the Convertible Notes, holders of the Convertible Notes may convert their Convertible Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay cash up to the aggregate principal amount of the Convertible Notes to be converted and pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the Convertible Notes being converted. It is the Company’s intention to settle any excess conversion value in shares of the Company’s common stock.

The conversion rate will initially equal 14.4865 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes, which represents a conversion price of approximately $69.03 per share. The conversion rate will be subject to adjustment upon the occurrence of certain events, but will not be adjusted for any accrued and unpaid interest. In addition, following the occurrence of a make-whole fundamental change, the Company will, in certain circumstances, increase the conversion rate for a holder that converts its Convertible Notes in connection with such make-whole fundamental change. The Company may not redeem the Convertible Notes prior to maturity. No sinking fund will be provided for the Convertible Notes. If the Company undergoes a fundamental change, subject to certain conditions, holders may require the Company to purchase

the Convertible Notes in whole or in part for cash at a fundamental change purchase price equal to 100% of the principal amount of the Convertible Notes to be purchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date. In certain Events of Default, as defined in the Indenture, the Trustee by notice to the Company, or the holders of at least 25% in principal amount of then outstanding Convertible Notes by notice to the Company and to the Trustee, may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all then outstanding Convertible Notes to be due and payable. Upon such a declaration, such principal and accrued and unpaid interest, if any, will be due and payable immediately.

As of March 31, 2012, the Convertible Notes were not convertible.

In connection with the issuance of the Convertible Notes, the Company entered into privately-negotiated convertible note hedge and capped call transactions with affiliates of certain of the underwriters (the “Option Counterparties”). The convertible note hedge and capped call transactions relate to, collectively, 3,622 shares, which represents the number of shares of the Company’s common stock underlying the Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes. These convertible note hedge and capped call transactions are expected to reduce the potential dilution with respect to the Company’s common stock upon conversion of the Convertible Notes and/or reduce the Company’s exposure to potential cash or stock payments that may be required upon conversion of the Convertible Notes, except, in the case of the capped call transactions, to the extent that the market price per share of the Company’s common stock

11

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

exceeds the cap price of the capped call transactions. The convertible note hedge and capped call transactions, which cost the Company $66,486, were recorded as a reduction of additional paid-in-capital.

The Company also entered into separate warrant transactions with the Option Counterparties initially relating to the number of shares of the Company’s common stock underlying the convertible note hedge transactions, subject to customary anti-dilution adjustments. The warrant transactions will have a dilutive effect with respect to the Company’s common stock to the extent that the price per share of the Company common stock exceeds the strike price of the warrants unless the Company elects, subject to certain conditions, to settle the warrants in cash. These warrants were exercisable as of the issuance date of the Convertible Notes. The cap price of the capped call transactions and the strike price of the warrant transactions was initially $84.96 per share. Proceeds received from the issuance of the warrants totaled approximately $48,848 and were recorded as an addition to additional paid-in-capital. The net cost of the convertible note hedge and capped call transactions, taking into account the proceeds from the issuance of the warrants, was approximately $17,638. In accordance with ASC 815, contracts are initially classified as equity if (1) the contract requires physical settlement or net-share settlement, or (2) the contract gives the entity a choice of net-cash settlement in its own shares (physical settlement or net-share settlement). The Company concluded that the settlement terms of the convertible note hedge, capped call and warrant transactions permit net-share settlement. As such, the convertible note hedge, capped call and warrant transactions were recorded in equity.

At the issuance of the Convertible Notes, the Company bifurcated the $250,000 principal balance of the Convertible Notes into a liability component of $170,885 which was recorded as long-term debt and an equity component of $79,115 which was recorded as additional paid-in-capital. The liability component was recognized at the present value of its associated cash flows using a 7.9% straight-debt rate which represents the Company’s interest rate for similar debt instruments without a conversion feature and is being accreted to interest expense over the term of the Convertible Notes. For purposes of fair value measurement, the Company determined that valuation of the Convertible Notes falls under Level 2 of the fair value hierarchy. For the three months ended March 31, 2012, interest expense for the Convertible Notes was $3,488 which included $1,250 of contractual 2.00% coupon interest and $2,238 of non-cash interest accretion expense related to the carrying value of the Convertible Notes.

In accordance with ASC 470-20 which requires issuers to separately account for the liability and equity components of convertible debt instruments that may be settled in cash upon conversion, the Company allocated debt issuance costs to the liability and equity components in proportion to their allocated value. Debt issuance costs were $7,277 with $2,303 recorded as a reduction in additional paid-in-capital. The balance of $4,974 is being amortized over the term of the Convertible Notes. For the three months ended March 31, 2012, total expense associated with the amortization of debt issuance costs was $178.

The following table represents the principal balance, the unamortized discount and the net carrying amount of the liability component and the carrying amount of the equity component of the Convertible Notes:

	March 31, 2012			December 31, 2011
Principal balance of liability component	$	250,000		$	250,000
Unamortized discount	(73,288		)	(75,526		)
Carrying value of liability component	$	176,712		$	174,474
Equity Component	$	79,115		$	79,115

As of March 31, 2012, the Company had a five-year $200,000 senior credit facility (the “Senior Credit Facility”) consisting of a $65,000 term loan (the “Term Loan”), of which $53,625 remained outstanding as of such date and a $135,000 revolving credit facility (the “Revolver”) with a scheduled maturity date of May 18, 2015 (the “Maturity Date”). The Revolver included a $25,000 sub-limit for the issuance of swingline loans and a $50,000 sub-limit to be used for letters of credit. There was a foreign currency limit of $40,000 under the Revolver which could be used for foreign currency denominated letters of credit and borrowings in a foreign currency, in each case in currencies agreed upon with the lenders. In addition, the facility permitted borrowings up to $40,000 under the Revolver made by the Company’s wholly-owned subsidiary, Chart Industries Luxembourg S.à r.l.

Subsequent to the end of the first quarter, on April 25, 2012, the Company amended and restated its five-year $200,000 Senior Credit Facility with a five-year $375,000 senior credit facility (the "Restated Credit Facility") which consists of a $75,000 term loan (the "Term Loan") and a $300,000 revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate of $150,000 in term loans or revolving credit commitments from its existing

12

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75,000 Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.

The Senior Credit Facility agreement, including the amended facility, contains a number of customary covenants, including but not limited to restrictions on the Company’s ability to incur additional indebtedness, create liens or other encumbrances, sell assets, enter into sale and lease-back transactions, make certain payments, investments, loans, advances or guarantees, make acquisitions and engage in mergers or consolidations, pay dividends or distributions, and make capital expenditures. The Senior Credit Facility includes financial covenants relating to net leverage and interest coverage ratios. The Company is in compliance with all covenants. As of March 31, 2012, there was $53,625 outstanding under the Term Loan, $32,879 in letters of credit issued, and no borrowings outstanding under the Revolver. The obligations under the Senior Credit Facility are guaranteed by the Company and substantially all of its U.S. subsidiaries and secured by substantially all of the assets of the Company’s U.S. subsidiaries and 65% of the capital stock of the Company’s Material non-U.S. subsidiaries (as defined by the Senior Credit Facility) that are owned by U.S. subsidiaries.

On October 17, 2011, the Company redeemed the $163,175 million outstanding principal amount of its 9-1/8% Subordinated Notes due in 2015. The redemption price was 103.042% of the principal amount plus accrued and unpaid interest to, but not including, the redemption date, which totaled approximately $175,600. In conjunction with the redemption of the Subordinated Notes, the Company recorded a $4,964 call premium and additional amortization of $2,969 for the write-off of the remaining deferred financing fees related to the Subordinated Notes. The Subordinated Notes were general unsecured obligations of the Company and were subordinated in right of payment to all existing and future senior debt of the Company, including the Senior Credit Facility, pari passu in right of payment with all future senior subordinated indebtedness of the Company, and senior in right of payment with any future indebtedness of the Company that expressly provides for its subordination to the Subordinated Notes. The Subordinated Notes were unconditionally guaranteed jointly and severally by substantially all of the Company’s U.S. subsidiaries.

In October 2011, Chart Cryogenic Engineering Systems (Changzhou) Co., Ltd., a wholly-owned subsidiary of the Company, entered into three separate banking facilities (the "Foreign Facilities") which include a bonding/guarantee facility, a revolving line of credit, and an overdraft facility with 30,000, 60,000, and 10,000 Chinese yuan in borrowing capacity, respectively. The Foreign Facilities are guaranteed by the Company. The revolving line of credit has a time to maturity of up to twelve months and was recorded as short-term debt at the date of issuance. As of March 31, 2012, the Company had $4,761 of borrowings outstanding under the revolving line of credit. As of March 31, 2012, there were no amounts outstanding under the overdraft facility or the bonding/guarantee facility.

Chart Ferox, a.s. (“Ferox”), a wholly-owned subsidiary of the Company, maintains secured credit facilities with capacity of up to 175,000 Czech koruna. Ferox maintains two separate facilities. Both of the facilities allow Ferox to request issuance of bank guarantees and letters of credit. None of the facilities allow revolving credit borrowings, including overdraft protection. Ferox is required to pay a commitment fee to the lender under its first facility in respect to the unutilized commitments thereunder. Under this first facility Ferox must pay letter of credit and guarantee fees equal to: (i) 0.70% p.a. on the face amount of each guarantee or letter of credit for maturities of up to 1 year, (ii) 0.80% p.a. for maturities between 1 and 3 years, and (iii) 1.20% p.a. for maturities between 3 and 5 years. Under the second facility Ferox must pay letter of credit and guarantee fees equal to 0.70% p.a. on the face amount of each guarantee or letter of credit. Ferox is not required to pay a commitment fee to the lender under the second facility. Ferox’s land, buildings and accounts receivable secure the credit facilities. As of March 31, 2012, there were bank guarantees of $2,600 supported by the Ferox credit facilities.

Flow Instruments & Engineering GmbH (“Flow”), a wholly-owned subsidiary of Ferox, maintains two revolving lines of credit with 320 euros in borrowing capacity. During the first quarter of 2012, a line of credit with 170 euros in borrowing capacity was canceled. As of March 31, 2012, there were no borrowings outstanding under the remaining line of credit of 150 euros.

13

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

NOTE D — Restructuring Activities

In April 2010, Caire Inc., a wholly-owned subsidiary of the Company, announced its plan to close its liquid oxygen therapy manufacturing facility in Plainfield, Indiana and relocate the manufacturing and customer service operations to a facility close to existing BioMedical operations in Canton, Georgia. The Plainfield facility was acquired as part of the 2009 acquisition of the liquid oxygen therapy business of Covidien plc. The closure was substantially completed in the second quarter of 2011. The total cost of the restructuring was approximately $7,300 which includes asset impairment charges. The cost includes cash expenditures for employee retention and separation benefits, as well as lease exit costs and loss on disposal of remaining assets.

The Company recorded $26 for the three months ended March 31, 2012 in restructuring costs for employee separation benefits related to the integration of SeQual Technologies Inc., which was acquired on December 28, 2010. These charges were recorded in selling, general and administrative expenses for the three months ended March 31, 2012. The Company recorded $199 for the three months ended March 31, 2011 related to the closure of the Plainfield, Indiana BioMedical facility. The Company also recorded $902 for the three months ended March 31, 2011 in restructuring costs for employee separation benefits related to the integration of SeQual Technologies Inc. These charges were recorded in cost of sales ($11 for the three months ended March 31, 2011) and selling, general and administrative expenses ($1,090 for the three months ended March 31, 2011).

The following tables summarize the Company’s restructuring activities for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31, 2012
	Energy & Chemicals		Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2012	$	—	$	115		$	998		$	—	$	1,113
Restructuring charges	—		—			26			—		26
Cash payments and other	—		(73		)	(517		)	—		(590		)
Balance as of March 31, 2012	$	—	$	42		$	507		$	—	$	549

	Three Months Ended March 31, 2011
	Energy & Chemicals			Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2011	$	103		$	387		$	2,088		$	—	$	2,578
Restructuring charges	—			(1		)	1,102			—		1,101
Cash payments and other	(39		)	(128		)	(790		)	—		(957		)
Balance as of March 31, 2011	$	64		$	258		$	2,400		$	—	$	2,722

NOTE E — Earnings Per Share

The following table presents calculations of net income per share of common stock for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012		2011
Net income attributable to Chart Industries, Inc.	$	14,083	$	7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$	0.48	$	0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$	0.47	$	0.25
Weighted average number of common shares outstanding – basic	29,593		28,768
Incremental shares issuable upon assumed conversion and exercise of stock options	468		910
Total shares – diluted	30,061		29,678

Shares issuable under the Convertible Notes were excluded from diluted earnings per share since the average market price of the Company’s common stock during the period was less than the conversion price. Certain common shares that may

14

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

be issuable upon the vesting of share-based awards were not included in net income attributable to Chart Industries, Inc. per common share – diluted as they were anti-dilutive and consisted of 105 shares for the three months ended March 31, 2012. There were no anti-dilutive share-based awards for the three months ended March 31, 2011.

NOTE F — Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component are as follows:

	Three Months Ended March 31, 2012
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2012	$	12,635	$	(9,642	)	$	2,993
Other comprehensive income, net of tax	2,021		243			2,264
Balance as of March 31, 2012	$	14,656	$	(9,399	)	$	5,257

	Three Months Ended March 31, 2011
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2011	$	14,938	$	(5,127	)	$	9,811
Other comprehensive income, net of tax	6,035		30			6,065
Balance as of March 31, 2011	$	20,973	$	(5,097	)	$	15,876

NOTE G — Acquisitions

On August 1, 2011, Chart Germany GmbH, a wholly-owned subsidiary of the Company, completed the acquisition of 100% of the equity interests of GOFA Gocher Fahrzeugbau GmbH and related companies (“GOFA”) for a total purchase price of €26,261 net of cash acquired, including a final working capital adjustment of €947. The fair value of the net assets acquired and goodwill at the date of acquisition were $28,372 and $11,438, respectively. The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed, and the related income tax impact of the acquisition adjustments. Goodwill was established due to the benefits that will be derived from the expansion of the Company's LNG distribution product offering in Europe. GOFA, located in Goch, Germany, designs, manufactures, sells and services cryogenic and noncryogenic mobile equipment. GOFA results are included in the Company’s Distribution & Storage segment and added $1,637 in net income during the three months ended March 31, 2012.

The purchase price allocation related to the GOFA acquisition is presented below:

Net assets acquired:
Cash	$	1,974
Accounts receivable	4,645
Inventory	8,382
Property and equipment	15,555
Other assets	118
Intangible assets	7,258
Goodwill	11,438
Liabilities assumed	(9,560		)
Total purchase price	$	39,810

On April 1, 2011, Chart Inc. completed the acquisition of 100% of the equity of Clever Fellows Innovation Consortium, Inc. (“CFIC”) for a total potential purchase price of $5,000 in cash, of which $2,000 has been paid. The remaining portion of the potential total purchase price represents contingent consideration to be paid over three years based on the attainment of certain revenue targets. The fair value of the net assets acquired and goodwill at the date of acquisition were $732 and $2,938, respectively. The goodwill was established due to the synergistic opportunities to enhance technology for cryogenic applications and grow sales in new product lines. CFIC is located in Troy, New York and develops and manufactures

15

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

thermoacoustic technology products for cryogenic, heat transfer and related applications. CFIC's results are included in the Company’s BioMedical segment and added $308 in sales during the three months ended March 31, 2012.

Pro-forma information related to these acquisitions has not been presented because the impact on the Company’s consolidated results of operations is not material.

NOTE H — Income Taxes

At March 31, 2012, the Company has recorded a $1,535 liability, in accordance with ASC 740-10-25 “Income Taxes,” for gross unrecognized tax benefits. This amount, if ultimately recognized, will reduce the Company’s annual effective tax rate. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. At March 31, 2012, the Company had accrued approximately $77 for the payment of interest and penalties. During the first quarter of 2012 the Internal Revenue Service (“IRS”) completed an examination of the Company's amended U.S. income tax returns for 2005 and 2006. As a result of the completion of the examination, the Company's gross unrecognized tax benefits decreased by $905.

The effective tax rate for the three months ended March 31, 2012 of 29.0% differs from the U.S. federal statutory rate of 35% primarily due to the decrease of gross unrecognized tax benefits and the effect of income earned by certain of the Company's foreign entities being taxed at lower rates than the federal statutory rate. The effective tax rate for the three months ended March 31, 2011 of 31.5% differs from the federal statutory rate primarily due to the effect of income earned by certain of the Company’s foreign entities being taxed at lower rates than the federal statutory rate.

NOTE I — Employee Benefit Plans

The Company has one defined benefit pension plan which is frozen that covers certain U.S. hourly and salaried employees. The defined benefit plan provides benefits based primarily on the participants’ years of service and compensation.

The following table sets forth the components of net periodic pension expense for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012			2011
Interest cost	$	552		$	603
Expected return on plan assets	(662		)	(644		)
Amortization of net loss	243			91
Total pension expense	$	133		$	50

NOTE J — Reportable Segments

The structure of the Company’s internal organization is divided into the following three reportable segments, which are also the Company's operating segments: Energy and Chemicals (“E&C”), Distribution and Storage (“D&S”) and BioMedical. The Company’s reportable segments are business units that are each managed separately because they manufacture, offer and distribute distinct products with different production processes and sales and marketing approaches. The E&C segment sells brazed aluminum and air-cooled heat exchangers, cold boxes and liquefied natural gas vacuum-insulated pipe to natural gas, petrochemical processing and industrial gas companies who use them for the liquefaction and separation of industrial and natural gases. The D&S segment sells cryogenic bulk storage systems, cryogenic packaged gas systems, cryogenic systems and components, beverage liquid CO₂ systems, cryogenic flow meter systems and cryogenic services to various companies for the storage and transportation of both industrial and natural gases. The BioMedical segment sells medical respiratory products, biological storage systems and other oxygen products. Due to the nature of the products that each segment sells, there are no intersegment sales. Corporate includes operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit, risk management and stock-based compensation expenses that are not allocated to the reporting segments.

The Company evaluates performance and allocates resources based on operating income or loss from continuing operations before net interest expense, financing costs amortization expense, foreign currency gain or loss, income taxes and noncontrolling interest. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

16

CHART INDUSTRIES, INC. AND SUBSIDIARIES

Notes to Unaudited Condensed Consolidated Financial Statements – March 31, 2012

(Dollars and shares in thousands, except per share amounts) – Continued

Information for the Company’s three reportable segments and its corporate headquarters is presented below:

	Three Months Ended March 31, 2012
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	68,824	$	105,092	$	42,190	$	—		$	216,106
Operating income (loss)	13,192		18,732		4,592		(12,655		)	23,861

	Three Months Ended March 31, 2011
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	42,516	$	73,373	$	47,052	$	—		$	162,941
Operating income (loss)	3,753		11,521		8,447		(9,414		)	14,307

NOTE K — Subsequent Event

As described in Note C above, on April 25, 2012, the Company amended and restated its five-year $200,000 Senior Credit Facility with a five-year $375,000 senior credit facility (the "Restated Credit Facility") which consists of a $75,000 term loan (the "Term Loan") and a $300,000 revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate of $150,000 in term loans or revolving credit commitments from its existing and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75,000 Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.

17

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

Chart Industries, Inc. (the “Company,” “Chart,” or “we”) is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The largest portion of end-use applications for our products is energy-related. We are a leading manufacturer of standard and engineered equipment primarily used for low-temperature and cryogenic applications. We have developed an expertise in cryogenic systems and equipment, which operate at low temperatures sometimes approaching absolute zero (0 kelvin; -273° Centigrade; -459° Fahrenheit). The majority of our products, including vacuum insulated containment vessels, heat exchangers, cold boxes and other cryogenic components, are used throughout the liquid gas supply chain for the purification, liquefaction, distribution, storage and end-use of hydrocarbon and industrial gases.

Growing energy demand and increased use of natural gas drove record orders for the first quarter of 2012. Orders for the three months ended March 31, 2012 were $385.1 million. This record order intake was led by LNG related orders in our E&C segment driven by large scale LNG project work and LNG storage and transportation related orders in our D&S segment. Backlog as of March 31, 2012 was a record $659.3 million as compared to $489.1 million as of December 31, 2011, representing an increase of $170.2 million, or 34.8%. Backlog increased in the E&C and D&S business segments as a result of order growth largely driven by the demand for LNG equipment. Sales for the three months ended March 31, 2012 were $216.1 million compared to sales of $162.9 million for the three months ended March 31, 2011, reflecting an increase of $53.2 million, or 32.6%. Higher volume mainly as a result of the demand for energy equipment drove sales growth. Sales also benefited from recent acquisitions. Gross profit for the three months ended March 31, 2012 was $67.6 million, or 31.3% of sales, as compared to $52.5 million, or 32.2% of sales, for the three months ended March 31, 2011. Product mix and costs associated with several facility expansion projects and additional resources to support growth caused the slight margin decline. Operating income for the three months ended March 31, 2012 was $23.9 million compared to $14.3 million for the three months ended March 31, 2011.

18

Results of Operations for the Three Months Ended March 31, 2012 and 2011

The following table sets forth sales, gross profit, gross profit margin and operating income or loss for our operating segments for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012			2011
Sales
Energy & Chemicals	$	68,824		$	42,516
Distribution & Storage	105,092			73,373
BioMedical	42,190			47,052
Total	$	216,106		$	162,941
Gross Profit
Energy & Chemicals	$	21,689		$	11,801
Distribution & Storage	29,448			21,735
BioMedical	16,420			18,950
Total	$	67,557		$	52,486
Gross Profit Margin
Energy & Chemicals	31.5		%	27.8		%
Distribution & Storage	28.0		%	29.6		%
BioMedical	38.9		%	40.3		%
Total	31.3		%	32.2		%
Operating Income (Loss)
Energy & Chemicals	$	13,192		$	3,753
Distribution & Storage	18,732			11,521
BioMedical	4,592			8,447
Corporate	(12,655		)	(9,414		)
Total	$	23,861		$	14,307

Sales

Sales for the three months ended March 31, 2012 were $216.1 million compared to $162.9 million for the three months ended March 31, 2011, reflecting an increase of $53.2 million, or 32.6%. The primary drivers of the increase in sales were improved volume and the recently completed acquisitions. E&C segment sales were $68.8 million for the three months ended March 31, 2012, compared with sales of $42.5 million for the three months ended March 31, 2011, which was an increase of $26.3 million or 61.9%. This increase in E&C sales for the three months ended March 31, 2012 was primarily due to improved volume in all product lines, particularly LNG and natural gas related opportunities. D&S segment sales increased$31.7 million, or 43.2%, to $105.1 million for the three months ended March 31, 2012, from $73.4 million for the three months ended March 31, 2011. The increase in sales was largely due to improved volume across all product lines, particularly LNG applications, mobile equipment, and bulk storage tanks. Sales for bulk storage systems and package gas systems increased $20.7 million and $11.0 million, respectively. In addition, GOFA, which was acquired in August 2011, contributed $5.3 million during the quarter, which is included in the bulk storage sales increase noted above. BioMedical segment sales for the three months ended March 31, 2012 were $42.2 million compared to $47.0 million for the same period in 2011, which reflected a decrease of $4.8 million, or 10.3%. This decrease is largely due to timing of large orders and overall weakness in the European market, as well as continued phase-in of Medicare competitive bidding in the U.S. impacting respiratory products.

Gross Profit and Margin

Gross profit for the three months ended March 31, 2012 was $67.6 million, or 31.3% of sales, versus $52.5 million, or 32.2% of sales, for the three months ended March 31, 2011 and reflected an increase of $15.1 million. E&C segment gross profit increased$9.9 million and its margin increased3.7 percentage points primarily due to successful execution and completion of certain projects, including income recognition of project reserves in the quarter which positively impacted margins by about 3.5%, and also increased volume due to the ramp up of production on several large systems projects. Gross profit for the D&S segment increased$7.7 million due to higher volume and capacity utilization. Margin declined 1.6

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percentage points due to unfavorable product mix. BioMedical gross profit decreased$2.5 million as margin decreased1.4 percentage points for the three months ended March 31, 2012 as compared to the same period in 2011. The decrease in gross profit is primarily due to lower volume and unfavorable product mix with weaker product sales in Europe.

Selling, General and Administrative Expenses (“SG&A”)

SG&A expenses for the three months ended March 31, 2012 were $40.6 million, or 18.8% of sales, compared to $34.9 million, or 21.4% of sales, for the three months ended March 31, 2011. SG&A expenses for the E&C segment were $7.7 million for the three months ended March 31, 2012 compared to $7.1 million for the three months ended March 31, 2011, an increase of $0.6 million. The increase was primarily attributable to higher employee-related costs and fees for professional services to support growth. D&S segment SG&A expenses for the three months ended March 31, 2012 were $11.5 million compared to $9.0 million for the three months ended March 31, 2011, an increase of $2.5 million. This increase was primarily attributable to the acquisition of GOFA in August 2011, increased employee-related costs, and higher marketing and sales commission expense due to increased sales volume. SG&A expenses for the BioMedical segment were $8.8 million for the three months ended March 31, 2012 and $9.4 million for the three months ended March 31, 2011. The decrease of $0.6 million was primarily attributable to restructuring costs that occurred in the first quarter of 2011 partially offset by higher employee-related costs and professional services during the first quarter of 2012. Corporate SG&A expenses for the three months ended March 31, 2012 were $12.7 million, compared to $9.4 million for the three months ended March 31, 2011. This increase of $3.3 million was attributable to higher employee-related costs, stock-based compensation expense, fees for professional services to support growth, and an increase in acquisition-related contingent consideration fair value adjustments.

Amortization Expense

Amortization expense for the three months ended March 31, 2012 was $3.1 million, or 1.4% of sales, compared to $3.3 million, or 2.0% of sales for the three months ended March 31, 2011. The decrease of $0.2 million resulted primarily from intangible assets becoming fully amortized offset by the acquisition of GOFA in 2011.

Operating Income

As a result of the foregoing, operating income for the three months ended March 31, 2012 was $23.9 million, or 11.0% of sales, an increase of $9.6 million compared to operating income of $14.3 million, or 8.8% of sales, for the same period in 2011.

Net Interest Expense and Amortization of Deferred Financing Costs

Net interest expense for the three months ended March 31, 2012 and 2011 was $4.0 million and $3.9 million, respectively. Interest expense for the three months ended March 31, 2012 included $1.3 million of contractual 2.00% coupon interest and $2.2 million of non-cash interest accretion expense related to the carrying value of the Convertible Senior Subordinated Notes (the “Convertible Notes”). Amortization of deferred financing costs was $0.3 million for the three months ended March 31, 2012 and 2011.

Other Expense and Income

For the three months ended March 31, 2012 and 2011, foreign currency gains were $0.4 million and $0.8 million, respectively. The decrease in gains of $0.4 million is primarily attributable to increased volatility in foreign exchange rates impacting transactions denominated in foreign currencies and marked to market losses on the Company's foreign currency forward contracts for the three months ended March 31, 2012.

Income Tax Expense

Income tax expense of $5.8 million and $3.4 million for the three months ended March 31, 2012 and 2011, respectively, represents taxes on both U.S. and foreign earnings at an effective income tax rate of 29.0% and 31.5%, respectively. The decrease in the effective tax rate, for the three months ended March 31, 2012 compared to the prior year period is primarily due to the decrease of gross unrecognized tax benefits and the effect of income earned by certain of the Company's foreign entities being taxes at lower rates than the federal statutory rate.

Net Income

As a result of the foregoing, reported net income for the three months ended March 31, 2012 and 2011 was $14.1 million and $7.5 million, respectively.

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Liquidity and Capital Resources

Debt Instruments and Related Covenants

On August 3, 2011, the Company closed on its offering of $250.0 million aggregate principal amount of 2.00% Convertible Notes (the "Convertible Notes"). Upon conversion, holders of the Convertible Notes will receive cash up to the principal amount of the Convertible Notes, and it is Chart’s intention to settle any excess conversion value in shares of Chart’s common stock. However, Chart may elect to settle, at its discretion, any such excess value in cash, shares of Chart’s common stock or a combination of cash and shares. The initial conversion price of approximately $69.03 per share represents a conversion premium of 30% over the last reported sale price of Chart’s common stock on July 28, 2011, which was $53.10 per share. The net proceeds from the offering were approximately $242.7 million after deducting the underwriters’ discount and offering expenses. Approximately $17.6 million of the net proceeds from the Convertible Notes were used to pay the cost of the convertible note hedge and capped call transactions described in Note C of the unaudited condensed consolidated financial statements included in this report, taking into account the proceeds to the Company from the sale of related warrant transactions.

As of March 31, 2012, the Company had a $200.0 million senior credit facility (the “Senior Credit Facility”) consisting of a $65.0 million term loan and a $135.0 million revolving credit facility with a scheduled maturity date of May 18, 2015. Under the terms of the facility, 10% of the $65.0 million term loan was payable in quarterly installments of $1.6 million with the balance due in 2015. The balance due on the term loan was $53.6 million at March 31, 2012. As of March 31, 2012, the Company had $32.9 million of letters of credit and bank guarantees supported by the revolving portion of the Senior Credit Facility and availability was $102.1 million. The Company was in compliance with all covenants, including its financial covenants, as of March 31, 2012.

Subsequent to the end of the first quarter, on April 25, 2012, the Company amended and restated its five-year $200.0 million Senior Credit Facility with a five-year $375.0 million senior credit facility (the "Restated Credit Facility") which consists of a $75.0 million term loan (the "Term Loan") and a $300.0 million revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate $150.0 million in term loans or revolving credit commitments from its existing and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75.0 million Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.

On October 17, 2011, the Company redeemed the entire outstanding principal amount of its $163.2 million Subordinated Notes at a redemption price of 103.042% of the principal plus accrued and unpaid interest. During the fourth quarter of 2011, the Company wrote off the carrying value of deferred financing fees related to the Subordinated Notes, which totaled approximately $3.0 million.

In October 2011, Chart Cryogenic Engineering Systems (Changzhou) Co., Ltd., a wholly-owned subsidiary of the Company, entered into three separate banking facilities (the "Foreign Facilities") which include a bonding/guarantee facility, a revolving line of credit, and an overdraft facility with 30.0 million, 60.0 million, and 10.0 million Chinese yuan in borrowing capacity, respectively. The Foreign Facilities are guaranteed by the Company. The revolving line of credit has a time to maturity of up to twelve months and was recorded as short-term debt at the date of issuance. As of March 31, 2012, the Company had $4.8 million of borrowings outstanding under the revolving line of credit. As of March 31, 2012, there were no amounts outstanding under the overdraft facility or the bonding/guarantee facility.

Chart Ferox, a.s., or Ferox, our wholly-owned subsidiary that operates in the Czech Republic, maintains secured revolving credit facilities with capacity of up to 175.0 million Czech korunas. Both of the facilities allow Ferox to request issuance of bank guarantees and letters of credit. As of March 31, 2012, there were $2.6 million of bank guarantees supported by such facilities.

Flow Instruments & Engineering GmbH (“Flow”), a wholly-owned subsidiary of Ferox, maintains two revolving lines of credit with 0.3 million euros in borrowing capacity. During the first quarter of 2012, a line of credit with 0.2 million euros in borrowing capacity was canceled. As of March 31, 2012, there were no borrowings outstanding under the remaining line of credit.

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Sources and Use of Cash

Our cash and cash equivalents totaled $242.5 million as of March 31, 2012, a decrease of $14.4 million from the balance at December 31, 2011. As of March 31, 2012, cash of approximately $114.2 million was maintained in accounts in various foreign subsidiaries and is used to meet the liquidity needs of our foreign subsidiaries. No material restrictions exist in accessing cash held by our foreign subsidiaries and we expect to meet our U.S. funding needs without repatriating non-U.S. cash and incurring the resulting incremental U.S. taxes. Cash equivalents are invested in money market funds that invest in high quality, short-term instruments, such as U.S. government obligations, certificates of deposit, repurchase obligations and commercial paper issued by corporations that have been highly rated by at least one nationally recognized rating organization. Based on the foregoing, we believe that there is low risk that our cash and cash equivalents will not be a source of liquidity for us.

Cash used in operating activities for the three months ended March 31, 2012 was $9.2 million compared with cash used in operating activities of $20.8 million for the three months ended March 31, 2011. The decrease of $11.7 million in cash used in operations was the result of an increase in net income, accounts receivable and customer advances offset by an increase in funds used for inventory purchases as LNG related business opportunities improved.

Cash used in investing activities for the three months ended March 31, 2012 was $6.3 million compared to cash used in investing activities of $3.9 million for the three months ended March 31, 2011. Capital expenditures for the three months ended March 31, 2012 were $6.3 million compared with $4.3 million for the three months ended March 31, 2011. Major capital expenditures for the three months ended March 31, 2012 included capacity expansion projects in D&S and E&C in response to strong order intake and expected future growth.

Cash provided by financing activities for the three months ended March 31, 2012 and 2011 was $2.0 million. During the first quarter of 2012, the Company received $1.7 million in proceeds for stock option exercises offset by a $1.6 million scheduled quarterly principal payment on the term loan portion of the Senior Credit Facility. The Company also had a $6.4 million tax benefit from the exercise of stock options offset by $4.5 million for common stock repurchases during the first quarter of 2012.

Cash Requirements

The Company does not anticipate any unusual cash requirements for working capital needs for the year ending December 31, 2012. Management anticipates the Company will be able to satisfy cash requirements for its ongoing business for the foreseeable future with cash generated by operations, existing cash balances and, if necessary, borrowings under our credit facilities. We expect capital expenditures for the remaining nine months of 2012 to be in the range of $35.0 to $50.0 million primarily for continued automation, process improvements and/or expansions at existing manufacturing facilities, support of anticipated business growth in specific product lines and acquisition integration.

For the remainder of 2012, the Company is forecasting to use approximately $3.7 million for scheduled interest payments under the Senior Credit Facility and Convertible Notes. We were also required to make quarterly principal payments of $1.6 million under the term loan portion of our prior Senior Credit Facility. Under the Restated Credit facility, the quarterly principal payments have been reduced to $0.9 for the remainder of the 2012. In addition, we are forecasting to use approximately $30.0 to $32.0 million of cash to pay U.S. and foreign income taxes and approximately $1.8 million of cash to fund our defined benefit pension plans under ERISA funding requirements.

Orders and Backlog

We consider orders to be those for which we have received a firm signed purchase order or other written contractual commitment from the customer. Backlog is comprised of the portion of firm signed purchase orders or other written contractual commitments received from customers that we have not recognized as revenue upon shipment or under the percentage of completion method. Backlog can be significantly affected by the timing of orders for large projects, particularly in the E&C segment, and is not necessarily indicative of future backlog levels or the rate at which backlog will be recognized as sales. Orders included in our backlog may include customary cancellation provisions under which the customer could cancel part or all of the order, potentially subject to the payment of certain costs and/or penalties. Our backlog as of March 31, 2012 was $659.3 million compared to $489.1 million as of December 31, 2011.

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The following table sets forth orders and backlog by segment for the periods indicated:

	Three Months Ended
	March 31, 2012		December 31, 2011
Orders
Energy & Chemicals	$	208,108	$	65,181
Distribution & Storage	138,589		111,436
BioMedical	38,431		50,756
Total	$	385,128	$	227,373
Backlog
Energy & Chemicals	$	442,810	$	303,490
Distribution & Storage	203,606		169,246
BioMedical	12,844		16,332
Total	$	659,260	$	489,068

E&C orders for the three months ended March 31, 2012 were $208.1 million compared to $65.2 million for the three months ended December 31, 2011. E&C backlog totaled $442.8 million at March 31, 2012, compared to $303.5 million at December 31, 2011. The order increase was driven by LNG orders including orders in excess of $150 million for LNG baseload projects in Australia.

D&S orders for the three months ended March 31, 2012 were $138.6 million compared to $111.4 million for the three months ended December 31, 2011. D&S order trends, particularly LNG storage and transportation equipment, remain strong. D&S backlog totaled $203.6 million at March 31, 2012 compared to $169.2 million at December 31, 2011.

BioMedical orders for the three months ended March 31, 2012 were $38.4 million compared to $50.8 million for the three months ended December 31, 2011 due to increased competition in the U.S. and weakness in Europe. BioMedical backlog at March 31, 2012 totaled $12.8 million compared to $16.3 million at December 31, 2011.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Application of Critical Accounting Policies

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. As such, some accounting policies have a significant impact on amounts reported in these unaudited condensed consolidated financial statements. A summary of those significant accounting policies can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. In particular, judgment is used in areas such as revenue recognition for long-term contracts, determining the allowance for doubtful accounts, inventory valuation reserves, goodwill, indefinite lived intangibles, contingent liabilities, environmental remediation obligations, product warranty costs, debt covenants, pensions and deferred tax assets. There have been no significant changes in accounting policies since December 31, 2011.

Forward-Looking Statements

The Company is making this statement in order to satisfy the “safe harbor” provisions contained in the Private Securities Litigation Reform Act of 1995. This Quarterly Report on Form 10-Q includes “forward-looking statements”. These forward-looking statements include statements relating to our business. In some cases, forward-looking statements may be identified by terminology such as “may,” “should,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “continue” or the negative of such terms or comparable terminology. Forward-looking statements contained herein (including future cash contractual obligations, liquidity, cash flow, orders, results of operations, and trends, among other matters) or in other statements made by us are made based on management’s expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by forward-looking statements. We believe that the following factors, among others (including those described under Item 1A— “Risk Factors”, of our Annual Report on Form 10-K for the year ended December 31, 2011), could affect our future performance and the liquidity and value of our securities and cause our actual results to differ materially from those expressed or implied by forward-looking statements made by us or on our behalf:

• the cyclicality of the markets which we serve and the vulnerability of those markets to economic downturns;

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• the loss of, or a significant reduction or delay in purchases by our largest customers;

• the fluctuations in energy prices;

• governmental energy policies could change, or expected changes could fail to materialize;

• the potential for negative developments in the natural gas industry related to hydraulic fracturing;

• competition in our markets;

• economic downturns and deteriorating financial conditions;

• our ability to manage our fixed-price contract exposure;

• our reliance on the availability of key supplies and services;

• degradation of our backlog as a result of modification or termination of orders;

• our ability to successfully manage our planned operational expansions;

• changes in government health care regulations and reimbursement policies;

• general economic, political, business and market risks associated with our global operations including the recent instability in North Africa and the Middle East and any expansion thereof and the recent natural disaster and related complications in Japan;

• our ability to successfully acquire or integrate companies that provide complementary products or technologies;

• fluctuations in foreign currency exchange rates and interest rates;

• financial distress of third parties;

• the loss of key employees;

• the pricing and availability of raw materials;

• our ability to control our costs while maintaining customer relationships and core business resources;

• litigation and disputes involving us, including the extent of product liability, warranty, contract, employment and environmental claims asserted against us;

• United States Food and Drug Administration and comparable foreign regulation of our products;

• the impairment of our goodwill and other indefinite-lived intangible assets;

• the cost of compliance with environmental, health and safety laws and responding to potential liabilities under these laws;

• labor costs and disputes and the deterioration of our relations with our employees;

• additional liabilities related to taxes;

• the underfunded status of our pension plan;

• our ability to continue our technical innovation in our product lines;

• our ability to protect our intellectual property and know-how;

• claims that our products or processes infringe intellectual property rights of others;

• disruptions in our operations due to severe weather;

• potential violations of the Foreign Corrupt Practices Act;

• increased government regulation;

• regulations governing the export of our products and other regulations applicable to us as a supplier of products to the U.S. government;

• technological security threats;

• risks associated with our indebtedness, leverage, debt service and liquidity;

• potential dilution to existing holders of our common stock as a result of the conversion of our convertible debt;

• fluctuations in the price of our stock; and

• other factors described in herein.

There may be other factors that may cause our actual results to differ materially from the forward-looking statements.

All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this Quarterly Report and are expressly qualified in their entirety by the cautionary statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as the same may be updated from time to time. We undertake no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the filing date of this document or to reflect the occurrence of unanticipated events.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

In the normal course of business, the Company’s operations are exposed to continuing fluctuations in foreign currency values and interest rates that can affect the cost of operating and financing. Accordingly, the Company addresses a portion of these risks through a program of risk management.

Interest Rate Risk: The Company’s primary interest rate risk exposure results from the Senior Credit Facility's various floating rate pricing mechanisms. If interest rates were to increase 200 basis points (2 percent) from March 31, 2012 rates, and assuming no changes in debt from the March 31, 2012 levels, the additional annual expense would be approximately $1.1 million on a pre-tax basis.

Foreign Currency Exchange Rate Risk: The Company has assets, liabilities and cash flows in foreign currencies creating exposure to foreign currency exchange fluctuations in the normal course of business. Chart’s primary exchange rate exposure is with the euro, the British pound, the Czech koruna, the Japanese yen and the Chinese yuan. Monthly measurement, evaluation and forward exchange rate contracts are employed as methods to reduce this risk. The Company enters into foreign exchange forward contracts to hedge anticipated and firmly committed foreign currency transactions. Chart does not use derivative financial instruments for speculative or trading purposes. The terms of the contracts are generally one year or less. At March 31, 2012, the Company had foreign exchange contracts with notional amounts of (i) 13,700,000 euros to sell against the U.S. dollar, (ii) 3,370,000 euros to sell against the Czech koruna, (iii) 1,300,000 Polish złoty to sell against the euro, (iv) 60,000,000 Japanese yen to sell against the U.S. dollar, (v) 325,000 Australian dollars to sell against the U.S. dollar, (vi) 925,000 British pounds to sell against the U.S. dollar, (vii) 2,250,000 Norwegian kroner to sell against the euro, and (viii) 4,700,000 Czech koruna to sell against the U.S. dollar. At March 31, 2012, a hypothetical 10% weakening of the U.S. dollar would not materially affect the Company’s financial statements.

Market Price Sensitive Instruments

In connection with the issuance of the Convertible Notes, the Company entered into privately-negotiated convertible note hedge and capped call transactions with affiliates of certain of the underwriters (the “Option Counterparties”). The convertible note hedge and capped call transactions relate to, collectively, 3.6 million shares, which represents the number of shares of the Company’s common stock underlying the Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes. These convertible note hedge and capped call transactions are expected to reduce the potential dilution with respect to the Company’s common stock upon conversion of the Convertible Notes and/or reduce the Company’s exposure to potential cash or stock payments that may be required upon conversion of the Convertible Notes, except, in the case of the capped call transactions, to the extent that the market price per share of the Company’s common stock exceeds the cap price of the capped call transactions.

The Company also entered into separate warrant transactions with the Option Counterparties initially relating to the number of shares of the Company’s common stock underlying the convertible note hedge transactions, subject to customary anti-dilution adjustments. The warrant transactions will have a dilutive effect with respect to the Company’s common stock to the extent that the price per share of the Company common stock exceeds the strike price of the warrants unless the Company elects, subject to certain conditions, to settle the warrants in cash. The cap price of the capped call transactions and the strike price of the warrant transactions was initially $84.96 per share. Further information is located in Note C to the Company’s condensed consolidated financial statements included in this Quarterly Report on Form 10-Q.

Item 4. Controls and Procedures

As of March 31, 2012, an evaluation was performed, under the supervision and with the participation of the Company’s management including the Company’s Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Rule 13a-15 under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Based upon that evaluation, such officers concluded that the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act (1) is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms and (2) is accumulated and communicated to the Company’s management including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow for timely decisions regarding required disclosure.

There were no changes in the Company’s internal control over financial reporting that occurred during the Company's most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1A. Risk Factors

In addition to the other information set forth in this report, you should carefully consider the risk factors disclosed in Item 1A, “Risk Factors,” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

a.) None.

b.) None.

c.) During the first quarter of 2012, we repurchased 69,510 shares of common stock to satisfy tax withholding obligations relating to the vesting or payment of equity awards for an aggregate purchase price of approximately $4,473,000. The total number of shares repurchased represents the net shares issued to satisfy tax withholding. All such repurchased shares were subsequently retired during the three months ended March 31, 2012.

	Issuer Purchases of Equity Securities
Period	Total Number of Shares Purchased	Average Price Paid Per Share		Total Number of Shares Purchased As Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
January 1 – 31, 2012	5,922	$	55.93	—	$	—
February 1 – 29, 2012	63,588	65.13		—	—
March 1 – 31, 2012	—	—		—	—
Total	69,510	$	64.35	—	$	—

Item 4. Mine Safety Disclosures

Not applicable.

Item 6. Exhibits

The following exhibits are included with this report:

10.1 Amendment No. 3, dated January 1, 2012, to the Employment Agreement dated February 26, 2008 by and between Chart Industries, Inc. and Samuel F. Thomas (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 5, 2012 (File No. 001-11442)).

10.2 Amendment No. 2, dated January 1, 2012, to the Employment Agreement dated February 26, 2008 by and between Chart Industries, Inc. and Michael F. Biehl (incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 5, 2012 (File No. 001-11442)).

10.3 Amendment No. 2, dated January 1, 2012, to the Employment Agreement dated February 26, 2008 by and between Chart Industries, Inc. and Matthew J. Klaben (incorporated by reference to Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 5, 2012 (File No. 001-11442)).

10.4 Amendment No. 3, dated January 1, 2012, to the Employment Agreement dated February 26, 2008 by and between Chart Industries, Inc. and Kenneth J. Webster. (incorporated by reference to Exhibit 10.4 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 5, 2012 (File No. 001-11442)).

10.5 Form of Leveraged Restricted Share Unit Agreement (incorporated by reference to Exhibit 10.5 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 5, 2012 (File No. 001-11442)).

10.6 Form of Nonqualified Stock Option Agreement under the Chart Industries, Inc. 2009 Omnibus Equity Plan (incorporated by reference to Exhibit 10.3.8 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2011 (File No. 001-11442)).

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10.7 Form of Performance Unit Agreement under the Chart Industries, Inc. 2009 Omnibus Equity Plan (incorporated by reference to Exhibit 10.3.9 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2011 (File No. 001-11442)).

31.1 Rule 13a-14(a) Certification of Chief Executive Officer (x)

31.2 Rule 13a-14(a) Certification of Chief Financial Officer (x)

32.1 Section 1350 Certification of Chief Executive Officer (xx)

32.2 Section 1350 Certification of Chief Financial Officer (xx)

101 The following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, formatted in XBRL: (i) Condensed Consolidated Statements of Income and Comprehensive Income, (ii) Condensed Consolidated Balance Sheets, (iii) Condensed Consolidated Statements of Cash Flow, (iv) the Notes to Condensed Consolidated Financial Statements. *

(x) Filed herewith

(xx) Furnished herewith

* In accordance with Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 to this Quarterly Report on Form 10-Q shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be part of any registration statement or other document filed under the Securities Act of 1933 or Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Chart Industries, Inc.

(Registrant)

Date:	April 26, 2012	By:	/s/ Michael F. Biehl
			Michael F. Biehl
			Executive Vice President, Chief Financial Officer and Treasurer
			(Principal Financial Officer)
			(Duly Authorized Officer)

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EX-31.1

Exhibit 31.1

CERTIFICATION

I, Samuel F. Thomas, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Chart Industries, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: April 26, 2012

    /s/ Samuel F. Thomas

Samuel F. Thomas

Chairman of the Board, Chief Executive Officer and President

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Michael F. Biehl, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Chart Industries, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: April 26, 2012

    /s/ Michael F. Biehl

Michael F. Biehl

Chairman of the Board, Chief Executive Officer and President

EX-32.1

Exhibit 32.1

Certification

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), the undersigned officer of Chart Industries, Inc., a Delaware corporation (the “Company"), does hereby certify, to such officer's knowledge, that:

(a) The Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2012 (the "Form 10-Q") of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(b) The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company as of, and for, the periods presented in the Form 10-Q.

Dated: April 26, 2012

  /s/ Samuel F. Thomas

Samuel F. Thomas

Chairman of the Board, Chief Executive Officer and President

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form 10-Q or as a separate disclosure document.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

Certification

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), the undersigned officer of Chart Industries, Inc., a Delaware corporation (the “Company"), does hereby certify, to such officer's knowledge, that:

(a) The Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2012 (the "Form 10-Q") of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(b) The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company as of, and for, the periods presented in the Form 10-Q.

Dated: April 26, 2012

  /s/ Michael F. Biehl

Michael F. Biehl

Executive Vice President, Chief Financial Officer and Treasurer

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form 10-Q or as a separate disclosure document.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Subsequent Event (Details) (USD $) In Thousands, unless otherwise specified			3 Months Ended		3 Months Ended
	Apr. 25, 2012 Line of Credit [Member]	May 18, 2010 Senior Credit Facility [Member] Line of Credit [Member] Y	Mar. 31, 2012 Senior Term Loan, Due 2017 [Member] Term Loan [Member]	Apr. 25, 2012 Senior Term Loan, Due 2017 [Member] Term Loan [Member]	Mar. 31, 2012 Amended Senior Credit Facility [Member] Line of Credit [Member]	Apr. 25, 2012 Amended Senior Credit Facility [Member] Line of Credit [Member] Y	Apr. 25, 2012 Amended Revolver [Member] Revolving Line of Credit [Member]
Subsequent Event [Line Items]
Number of years to maturity, senior credit facility (in years)		5				5
Maximum borrowing capacity of line of credit facility		$ 200,000		$ 75,000		$ 375,000	$ 300,000
Amount of expansion option to increase the aggregate principal amount of the Term loan or Revolving Credit Facility	$ 150,000
Duration of time extension under the terms of the Restated Credit Facility					2 years
Initial percentage of Term Loan payable quarterly due to Restated Credit Facility				5.00%
Initial duration of quarterly payments on Term Loan under the terms of the Restated Credit Facility			3 years
Final percentage of Term Loan payable quarterly due to Restated Credit Facility				10.00%
Final duration of quarterly payments on Term Loan under the terms of the Restated Credit Facility			2 years
Maximum net debt to EBITDA ratio used as a significant financial covenant for the Restated Credit Facility						3.25
Minimum interest coverage to EBITDA ratio used as a significant financial covenant for the Restated Credit Facility						3

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Earnings Per Share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Calculations of net income per share of common stock
Net income attributable to Chart Industries, Inc. (in dollars)	$ 14,083	$ 7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$ 0.48	$ 0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$ 0.47	$ 0.25
Weighted average number of common shares outstanding – basic	29,593	28,768
Incremental shares issuable upon assumed conversion and exercise of stock options	468	910
Total shares – diluted	30,061	29,678
Stock Options [Member]
Calculations of net income per share of common stock
Anti-dilutive stock options exluded from total shares-diluted (in shares)	105	0

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Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information for the Company’s three reportable segments and its corporate headquarters is presented below:

	Three Months Ended March 31, 2012
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	68,824	$	105,092	$	42,190	$	—		$	216,106
Operating income (loss)	13,192		18,732		4,592		(12,655		)	23,861

	Three Months Ended March 31, 2011
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	42,516	$	73,373	$	47,052	$	—		$	162,941
Operating income (loss)	3,753		11,521		8,447		(9,414		)	14,307

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Employee Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012 Plans	Mar. 31, 2011
Compensation and Retirement Disclosure [Abstract]
Number of frozen defined benefit plans	1
Components of net periodic pension expense:
Interest cost	$ 552	$ 603
Expected return on plan assets	(662)	(644)
Amortization of net loss	243	91
Total pension expense	$ 133	$ 50

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Restructuring Activities

3 Months Ended

Mar. 31, 2012

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

In April 2010, Caire Inc., a wholly-owned subsidiary of the Company, announced its plan to close its liquid oxygen therapy manufacturing facility in Plainfield, Indiana and relocate the manufacturing and customer service operations to a facility close to existing BioMedical operations in Canton, Georgia. The Plainfield facility was acquired as part of the 2009 acquisition of the liquid oxygen therapy business of Covidien plc. The closure was substantially completed in the second quarter of 2011. The total cost of the restructuring was approximately $7,300 which includes asset impairment charges. The cost includes cash expenditures for employee retention and separation benefits, as well as lease exit costs and loss on disposal of remaining assets.

The Company recorded $26 for the three months ended March 31, 2012 in restructuring costs for employee separation benefits related to the integration of SeQual Technologies Inc., which was acquired on December 28, 2010. These charges were recorded in selling, general and administrative expenses for the three months ended March 31, 2012. The Company recorded $199 for the three months ended March 31, 2011 related to the closure of the Plainfield, Indiana BioMedical facility. The Company also recorded $902 for the three months ended March 31, 2011 in restructuring costs for employee separation benefits related to the integration of SeQual Technologies Inc. These charges were recorded in cost of sales ($11 for the three months ended March 31, 2011) and selling, general and administrative expenses ($1,090 for the three months ended March 31, 2011).

The following tables summarize the Company’s restructuring activities for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31, 2012
	Energy & Chemicals		Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2012	$	—	$	115		$	998		$	—	$	1,113
Restructuring charges	—		—			26			—		26
Cash payments and other	—		(73		)	(517		)	—		(590		)
Balance as of March 31, 2012	$	—	$	42		$	507		$	—	$	549

	Three Months Ended March 31, 2011
	Energy & Chemicals			Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2011	$	103		$	387		$	2,088		$	—	$	2,578
Restructuring charges	—			(1		)	1,102			—		1,101
Cash payments and other	(39		)	(128		)	(790		)	—		(957		)
Balance as of March 31, 2011	$	64		$	258		$	2,400		$	—	$	2,722

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Basis of Preparation - Cash and Cash Equivalents (Details) (Chart Cryogenic Engineering Systems Co., Ltd. [Member], USD $) In Thousands, unless otherwise specified	Mar. 31, 2012
Chart Cryogenic Engineering Systems Co., Ltd. [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash on deposit	$ 988

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Basis of Preparation - Stock-based Compensation (Details) (USD $) Share data in Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012 Y	Mar. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,505,000	$ 1,401,000
Stock-based compensation weighted average period (in years)	2.1
Stock-based compensation expected to be recognized over the wieghted average period	$ 9,077,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years
Stock options granted in period (in shares)	104
Stock options exercised in period (in shares)	184
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Other stock-based compensation grants in period (in shares)	31
Performance Based Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Other stock-based compensation grants in period (in shares)	34

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Fair Value Measurements (Details) In Thousands, unless otherwise specified	3 Months Ended					3 Months Ended
	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2011 Fair Value, Inputs, Level 2 [Member] USD ($)	Mar. 31, 2012 Fair Value, Inputs, Level 3 [Member] USD ($)	Dec. 31, 2011 Fair Value, Inputs, Level 3 [Member] USD ($)	Mar. 31, 2012 Fair Value, Inputs, Level 3 [Member] Selling, general and administrative expense [Member] USD ($)	Mar. 31, 2012 Euros against the U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] EUR (€)	Dec. 31, 2011 Euros against the U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] EUR (€)	Mar. 31, 2012 Euros against the Czech koruna [Member] Fair Value, Inputs, Level 2 [Member] EUR (€)	Dec. 31, 2011 Euros against the Czech koruna [Member] Fair Value, Inputs, Level 2 [Member] EUR (€)	Mar. 31, 2012 Japanese yen against U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] JPY (¥)	Dec. 31, 2011 Japanese yen against U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] JPY (¥)	Mar. 31, 2012 Polish zloty against the euro [Member] Fair Value, Inputs, Level 2 [Member] PLN	Mar. 31, 2012 Austrailian dollars against the U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] AUD	Mar. 31, 2012 British pounds against the U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] GBP (£)	Dec. 31, 2011 British pounds against the U.S. dollar [Member] Fair Value, Inputs, Level 2 [Member] GBP (£)	Mar. 31, 2012 Norwegian kroner against euro [Member] Fair Value, Inputs, Level 2 [Member] NOK	Dec. 31, 2011 Norwegian kroner against euro [Member] Fair Value, Inputs, Level 2 [Member] NOK	Mar. 31, 2012 Czech koruna against U.S. Dollar [Member] Fair Value, Inputs, Level 2 [Member] CZK	Dec. 31, 2011 Czech koruna against U.S. Dollar [Member] Fair Value, Inputs, Level 2 [Member] CZK	Dec. 31, 2011 Czech koruna against Euro [Member] Fair Value, Inputs, Level 2 [Member] CZK	Mar. 31, 2012 Term Loan [Member] Senior Term Loan, Due 2015 [Member] Fair Value, Inputs, Level 3 [Member] USD ($)	Dec. 31, 2011 Term Loan [Member] Senior Term Loan, Due 2015 [Member] Fair Value, Inputs, Level 3 [Member] USD ($)	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Fair Value, Inputs, Level 1 [Member] Minimum [Member]	Dec. 31, 2011 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Fair Value, Inputs, Level 1 [Member] Minimum [Member]	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Fair Value, Inputs, Level 1 [Member] Maximum [Member]	Dec. 31, 2011 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Fair Value, Inputs, Level 1 [Member] Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on foreign currency hedges	$ (384)	$ 668
Forward currency contract amounts							13,700	11,500	3,370	3,340	60,000	130,000	1,300	325	925	250	2,250	3,000	4,700	4,700	17,500
Fair value of derivative assets	44		489
Fair value of derivative liability	282		191
Fair value of debt instrument																						44,659	45,426
Percent that the fair value of the liability component of the Convertible Notes exceeded it's carrying value																								128.00%	107.00%	129.00%	108.00%
Fair value of the contingent consideration				7,584	7,067
Increase (decrease) in fair value of the contingent consideration						$ 517

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Debt and Credit Arrangements (Details) Share data in Thousands, except Per Share data, unless otherwise specified	3 Months Ended					3 Months Ended								3 Months Ended					3 Months Ended	12 Months Ended						3 Months Ended				3 Months Ended
	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2011 USD ($)	Aug. 31, 2011	Mar. 31, 2012 Chart Ferox [Member] Facility 2 [Member]	Mar. 31, 2012 Flow Instruments And Engineering Gmbh [Member] EUR (€) lines_of_credit	Mar. 31, 2012 Line of Credit [Member] Chart Ferox [Member] CZK creditfacilities	Mar. 31, 2012 Line of Credit [Member] Chart Ferox [Member] Facility 1 [Member] USD ($)	Oct. 31, 2011 Foreign Facilities [Member] Bonding/Guarantee Facility [Member] Chart Cryogenic Engineering Systems Co., Ltd. [Member] CNY	Oct. 31, 2011 Foreign Facilities [Member] Revolving Line of Credit [Member] Chart Cryogenic Engineering Systems Co., Ltd. [Member] CNY	Oct. 31, 2011 Foreign Facilities [Member] Overdraft Facility [Member] Chart Cryogenic Engineering Systems Co., Ltd. [Member] CNY	Oct. 31, 2011 Foreign Facilities [Member] Line of Credit [Member] Chart Cryogenic Engineering Systems Co., Ltd. [Member] USD ($)	May 18, 2010 Term Loan [Member] Senior Term Loan, Due 2015 [Member] USD ($)	Mar. 31, 2012 Term Loan [Member] Senior Term Loan, Due 2017 [Member]	Apr. 25, 2012 Term Loan [Member] Senior Term Loan, Due 2017 [Member] USD ($)	May 18, 2010 Senior Credit Facility [Member] Senior Term Loan, Due 2015 [Member] USD ($)	May 18, 2010 Revolving Line of Credit [Member] Revolver [Member] USD ($)	Apr. 25, 2012 Revolving Line of Credit [Member] Amended Revolver [Member] USD ($)	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] USD ($)	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] USD ($)	Dec. 31, 2011 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] USD ($)	Aug. 31, 2011 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] USD ($)	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Additional Paid-in Capital [Member] USD ($)	Mar. 31, 2012 Convertible Notes Payable [Member] Convertible Notes, Due 2018 [Member] Carrying Amount, Deferred Financing Fees [Member] USD ($)	Apr. 25, 2012 Line of Credit [Member] USD ($)	Mar. 31, 2012 Line of Credit [Member] Amended Senior Credit Facility [Member]	Apr. 25, 2012 Line of Credit [Member] Amended Senior Credit Facility [Member] USD ($) Y	Dec. 31, 2011 Line of Credit [Member] Senior Credit Facility [Member]	May 18, 2010 Line of Credit [Member] Senior Credit Facility [Member] USD ($) Y	Mar. 31, 2012 Subordinated Debt [Member] Subordinated Notes, Due 2015 [Member] USD ($)	Oct. 17, 2011 Subordinated Debt [Member] Subordinated Notes, Due 2015 [Member] USD ($)	Aug. 03, 2011 Subordinated Debt [Member] Subordinated Notes, Due 2015 [Member]
Debt Instrument [Line Items]
Stated interest rate																						2.00%
Aggregate principal of amount of debt																						$ 250,000,000
Proceeds from issuance of debt																						242,700,000
Minimum trading days required during thrirty consecutive trading days where last reported sales price is at least 130 percent of conversion price				20 days
Minimum percentage of conversion price of Convertible Notes on each trading day																						130.00%
Maximum days after any five trading day period in which trading price was less than 97 percent of last reported sale price of Common Stock times conversion rate				5 days
Convertible Notes principal amount denominator for trading price																						1,000
Maximum allowable percentage of the product of the last reported sale price of Common Stock and conversion rate for Convertible Notes Payable																						97.00%
Number of common shares convertible (shares of common stock per $1,000 principal amount of Convertible Notes)																						14.4865
Conversion price per share																						$ 69.03
Percent of the principal amount of the Convertible Notes plus accrued interest to be purchased by the Company subject to Company undergoing a fundamental change																						100.00%
Minimum holding percentage of convertible notes payable required to declare Convertible Notes to be due and payable in events of default																						25.00%
Percent of Convertible Notes declarable as due and payable in certain events of default																						100.00%
Number of shares of convertible debt hedged and capped call																						3,622
Convertible Notes payment call options and capped call transactions																			(66,486,000)
Initial cap price of the call transactions and the strike price of warrant transactions (per share)																						$ 84.96
Proceeds from issuance of warrants																			48,848,000
Net cost of Convertible Note hedge and all capped transactions																			17,638,000
Liability component of Convertible Notes before present value of equity component																						170,885,000
Percentage used as debt rate for present value of cash flows																						7.90%
Interest expense for the Convertible Notes																				3,488,000
Debt instrument interest expense excluding non-cash accretion expense																				1,250,000
Interest accretion of Convertible Notes discount																				2,238,000
Carrying amount of deferred financing fees																			7,277,000	7,277,000			(2,303,000)	4,974,000
Amortization of debt issuance costs	321,000	325,000																	178,000
Components of Convertible Notes:
Principal balance of the liability component																			250,000,000	250,000,000	250,000,000
Unamortized discount																			(73,288,000)	(73,288,000)	(75,526,000)
Carrying value of liability component																			176,712,000	176,712,000	174,474,000
Carrying value of equity component																			79,115,000	79,115,000	79,115,000	79,115,000
Number of years to maturity, senior credit facility (in years)																											5		5
Maximum borrowing capacity of line of credit facility						320,000	175,000,000		30,000,000	60,000,000	10,000,000		65,000,000		75,000,000		135,000,000	300,000,000									375,000,000		200,000,000
Gross amount of long-term debt													53,625,000
Sub-limit for issuance of swingline loans																	25,000,000
Sub-limit for letters of credit																	50,000,000
Maximum amount for foreign currency denominated letters of credit and borrowings																	40,000,000
Maximum amount of permitable subsidiary borrowings																	40,000,000
Amount of expansion option to increase the aggregate principal amount of the Term loan or Revolving Credit Facility																									150,000,000
Duration of time extension under the terms of the Restated Credit Facility																										2 years
Initial percentage of Term Loan payable quarterly due to Restated Credit Facility															5.00%
Initial duration of quarterly payments on Term Loan under the terms of the Restated Credit Facility														3 years
Final percentage of Term Loan payable quarterly due to Restated Credit Facility															10.00%
Final duration of quarterly payments on Term Loan under the terms of the Restated Credit Facility														2 years
Maximum net debt to EBITDA ratio used as a significant financial covenant for the Restated Credit Facility																											3.25
Minimum interest coverage to EBITDA ratio used as a significant financial covenant for the Restated Credit Facility																											3
Effective interest rate of debt																																9.125%
Amount of letters of credit outstanding																32,879,000
Maximum percentage of capital stock guaranteed by Company's material Non-U.S. Subsidiaries for obligations under the Senior Credit Facility																												65.00%
Amount of extinguished debt																														163,175,000
Subordinated notes redemption price percentage of principal																															103.042%
Redemption price of Subordinated Notes principal amount plus accrued and upaid interest																															175,600,000
Call premium in conjunction with redemption of Subordinated Notes																															4,964,000
Deferred financing fees written off due to refinancing																														2,969,000
Revolving line of credit time to maturity	12 months
Short-term debt	4,761,000		4,758,000									4,761,000
Number of credit facilities maintained by Chart Ferox							2
Letter of credit and guarantee fees percentage of face amount for maturities up to one year								0.70%
Letter of credit and guarantee fees percentage of face amount for maturities between one and three years								0.80%
Letter of credit and guarantee fees percentage of face amount for maturities between three and five years								1.20%
Letter of credit and guarantee fees percentage of face amount for all maturities					0.70%
Bank guarantees supported by credit facilities								2,600,000
Number of lines of credit maintained by Flow						2
Number of lines of credit canceled during the period						1
Maximum borrowing capacity of canceled line of credit						170,000
Maximum borrowing capicity of after cancellation of line of credit						€ 150,000

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Debt and Credit Arrangements

3 Months Ended

Mar. 31, 2012

Debt Disclosure [Abstract]

Debt and Credit Arrangements

Debt and Credit Arrangements

In August 2011, the Company issued 2.00% Convertible Notes due 2018 in the aggregate principal amount of $250,000 in an offering registered under the Securities Act of 1933, as amended. The net proceeds from the offering were approximately $242,700 after deducting the underwriters’ discount and offering expenses. The Convertible Notes bear interest at a fixed rate of 2.00% per year, payable semiannually in arrears on February 1 and August 1 of each year which began on February 1, 2012. The Convertible Notes will mature on August 1, 2018.

The Convertible Notes are senior subordinated unsecured obligations of the Company and are not guaranteed by any of the Company’s subsidiaries. The Convertible Notes are subordinated in right of payment to the Company’s existing and future senior indebtedness, including indebtedness under the Company’s existing credit agreement, and rank equally in right of payment with any future senior subordinated debt. The Convertible Notes rank senior in right of payment to the Company’s future subordinated debt.

Prior to the close of business on the business day immediately preceding May 1, 2018, the Convertible Notes will be convertible at the option of the holders thereof only under the following circumstances: (1) during any fiscal quarter commencing after September 30, 2011 (and only during such fiscal quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price for the Convertible Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which, as determined following a request by a holder of Convertible Notes as provided in the bond indenture (the “Indenture”), the trading price per $1,000 principal amount of Convertible Notes for each trading day of such Measurement Period was less than 97% of the product of the last reported sale price of the Company’s common stock and the applicable conversion rate for the Convertible Notes on each such trading day; or (3) upon the occurrence of specified corporate events pursuant to the terms of the Indenture. On or after May 1, 2018, until the close of business on the second scheduled trading day immediately preceding the maturity date of the Convertible Notes, holders of the Convertible Notes may convert their Convertible Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay cash up to the aggregate principal amount of the Convertible Notes to be converted and pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the Convertible Notes being converted. It is the Company’s intention to settle any excess conversion value in shares of the Company’s common stock.

The conversion rate will initially equal 14.4865 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes, which represents a conversion price of approximately $69.03 per share. The conversion rate will be subject to adjustment upon the occurrence of certain events, but will not be adjusted for any accrued and unpaid interest. In addition, following the occurrence of a make-whole fundamental change, the Company will, in certain circumstances, increase the conversion rate for a holder that converts its Convertible Notes in connection with such make-whole fundamental change. The Company may not redeem the Convertible Notes prior to maturity. No sinking fund will be provided for the Convertible Notes. If the Company undergoes a fundamental change, subject to certain conditions, holders may require the Company to purchase

the Convertible Notes in whole or in part for cash at a fundamental change purchase price equal to 100% of the principal amount of the Convertible Notes to be purchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date. In certain Events of Default, as defined in the Indenture, the Trustee by notice to the Company, or the holders of at least 25% in principal amount of then outstanding Convertible Notes by notice to the Company and to the Trustee, may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all then outstanding Convertible Notes to be due and payable. Upon such a declaration, such principal and accrued and unpaid interest, if any, will be due and payable immediately.

As of March 31, 2012, the Convertible Notes were not convertible.

In connection with the issuance of the Convertible Notes, the Company entered into privately-negotiated convertible note hedge and capped call transactions with affiliates of certain of the underwriters (the “Option Counterparties”). The convertible note hedge and capped call transactions relate to, collectively, 3,622 shares, which represents the number of shares of the Company’s common stock underlying the Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes. These convertible note hedge and capped call transactions are expected to reduce the potential dilution with respect to the Company’s common stock upon conversion of the Convertible Notes and/or reduce the Company’s exposure to potential cash or stock payments that may be required upon conversion of the Convertible Notes, except, in the case of the capped call transactions, to the extent that the market price per share of the Company’s common stock exceeds the cap price of the capped call transactions. The convertible note hedge and capped call transactions, which cost the Company $66,486, were recorded as a reduction of additional paid-in-capital.

The Company also entered into separate warrant transactions with the Option Counterparties initially relating to the number of shares of the Company’s common stock underlying the convertible note hedge transactions, subject to customary anti-dilution adjustments. The warrant transactions will have a dilutive effect with respect to the Company’s common stock to the extent that the price per share of the Company common stock exceeds the strike price of the warrants unless the Company elects, subject to certain conditions, to settle the warrants in cash. These warrants were exercisable as of the issuance date of the Convertible Notes. The cap price of the capped call transactions and the strike price of the warrant transactions was initially $84.96 per share. Proceeds received from the issuance of the warrants totaled approximately $48,848 and were recorded as an addition to additional paid-in-capital. The net cost of the convertible note hedge and capped call transactions, taking into account the proceeds from the issuance of the warrants, was approximately $17,638. In accordance with ASC 815, contracts are initially classified as equity if (1) the contract requires physical settlement or net-share settlement, or (2) the contract gives the entity a choice of net-cash settlement in its own shares (physical settlement or net-share settlement). The Company concluded that the settlement terms of the convertible note hedge, capped call and warrant transactions permit net-share settlement. As such, the convertible note hedge, capped call and warrant transactions were recorded in equity.

At the issuance of the Convertible Notes, the Company bifurcated the $250,000 principal balance of the Convertible Notes into a liability component of $170,885 which was recorded as long-term debt and an equity component of $79,115 which was recorded as additional paid-in-capital. The liability component was recognized at the present value of its associated cash flows using a 7.9% straight-debt rate which represents the Company’s interest rate for similar debt instruments without a conversion feature and is being accreted to interest expense over the term of the Convertible Notes. For purposes of fair value measurement, the Company determined that valuation of the Convertible Notes falls under Level 2 of the fair value hierarchy. For the three months ended March 31, 2012, interest expense for the Convertible Notes was $3,488 which included $1,250 of contractual 2.00% coupon interest and $2,238 of non-cash interest accretion expense related to the carrying value of the Convertible Notes.

In accordance with ASC 470-20 which requires issuers to separately account for the liability and equity components of convertible debt instruments that may be settled in cash upon conversion, the Company allocated debt issuance costs to the liability and equity components in proportion to their allocated value. Debt issuance costs were $7,277 with $2,303 recorded as a reduction in additional paid-in-capital. The balance of $4,974 is being amortized over the term of the Convertible Notes. For the three months ended March 31, 2012, total expense associated with the amortization of debt issuance costs was $178.

The following table represents the principal balance, the unamortized discount and the net carrying amount of the liability component and the carrying amount of the equity component of the Convertible Notes:

	March 31, 2012			December 31, 2011
Principal balance of liability component	$	250,000		$	250,000
Unamortized discount	(73,288		)	(75,526		)
Carrying value of liability component	$	176,712		$	174,474
Equity Component	$	79,115		$	79,115

As of March 31, 2012, the Company had a five-year $200,000 senior credit facility (the “Senior Credit Facility”) consisting of a $65,000 term loan (the “Term Loan”), of which $53,625 remained outstanding as of such date and a $135,000 revolving credit facility (the “Revolver”) with a scheduled maturity date of May 18, 2015 (the “Maturity Date”). The Revolver included a $25,000 sub-limit for the issuance of swingline loans and a $50,000 sub-limit to be used for letters of credit. There was a foreign currency limit of $40,000 under the Revolver which could be used for foreign currency denominated letters of credit and borrowings in a foreign currency, in each case in currencies agreed upon with the lenders. In addition, the facility permitted borrowings up to $40,000 under the Revolver made by the Company’s wholly-owned subsidiary, Chart Industries Luxembourg S.à r.l.

Subsequent to the end of the first quarter, on April 25, 2012, the Company amended and restated its five-year $200,000 Senior Credit Facility with a five-year $375,000 senior credit facility (the "Restated Credit Facility") which consists of a $75,000 term loan (the "Term Loan") and a $300,000 revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate of $150,000 in term loans or revolving credit commitments from its existing and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75,000 Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.

The Senior Credit Facility agreement, including the amended facility, contains a number of customary covenants, including but not limited to restrictions on the Company’s ability to incur additional indebtedness, create liens or other encumbrances, sell assets, enter into sale and lease-back transactions, make certain payments, investments, loans, advances or guarantees, make acquisitions and engage in mergers or consolidations, pay dividends or distributions, and make capital expenditures. The Senior Credit Facility includes financial covenants relating to net leverage and interest coverage ratios. The Company is in compliance with all covenants. As of March 31, 2012, there was $53,625 outstanding under the Term Loan, $32,879 in letters of credit issued, and no borrowings outstanding under the Revolver. The obligations under the Senior Credit Facility are guaranteed by the Company and substantially all of its U.S. subsidiaries and secured by substantially all of the assets of the Company’s U.S. subsidiaries and 65% of the capital stock of the Company’s Material non-U.S. subsidiaries (as defined by the Senior Credit Facility) that are owned by U.S. subsidiaries.

On October 17, 2011, the Company redeemed the $163,175 million outstanding principal amount of its 9-1/8% Subordinated Notes due in 2015. The redemption price was 103.042% of the principal amount plus accrued and unpaid interest to, but not including, the redemption date, which totaled approximately $175,600. In conjunction with the redemption of the Subordinated Notes, the Company recorded a $4,964 call premium and additional amortization of $2,969 for the write-off of the remaining deferred financing fees related to the Subordinated Notes. The Subordinated Notes were general unsecured obligations of the Company and were subordinated in right of payment to all existing and future senior debt of the Company, including the Senior Credit Facility, pari passu in right of payment with all future senior subordinated indebtedness of the Company, and senior in right of payment with any future indebtedness of the Company that expressly provides for its subordination to the Subordinated Notes. The Subordinated Notes were unconditionally guaranteed jointly and severally by substantially all of the Company’s U.S. subsidiaries.

In October 2011, Chart Cryogenic Engineering Systems (Changzhou) Co., Ltd., a wholly-owned subsidiary of the Company, entered into three separate banking facilities (the "Foreign Facilities") which include a bonding/guarantee facility, a revolving line of credit, and an overdraft facility with 30,000, 60,000, and 10,000 Chinese yuan in borrowing capacity, respectively. The Foreign Facilities are guaranteed by the Company. The revolving line of credit has a time to maturity of up to twelve months and was recorded as short-term debt at the date of issuance. As of March 31, 2012, the Company had $4,761 of borrowings outstanding under the revolving line of credit. As of March 31, 2012, there were no amounts outstanding under the overdraft facility or the bonding/guarantee facility.

Chart Ferox, a.s. (“Ferox”), a wholly-owned subsidiary of the Company, maintains secured credit facilities with capacity of up to 175,000 Czech koruna. Ferox maintains two separate facilities. Both of the facilities allow Ferox to request issuance of bank guarantees and letters of credit. None of the facilities allow revolving credit borrowings, including overdraft protection. Ferox is required to pay a commitment fee to the lender under its first facility in respect to the unutilized commitments thereunder. Under this first facility Ferox must pay letter of credit and guarantee fees equal to: (i) 0.70% p.a. on the face amount of each guarantee or letter of credit for maturities of up to 1 year, (ii) 0.80% p.a. for maturities between 1 and 3 years, and (iii) 1.20% p.a. for maturities between 3 and 5 years. Under the second facility Ferox must pay letter of credit and guarantee fees equal to 0.70% p.a. on the face amount of each guarantee or letter of credit. Ferox is not required to pay a commitment fee to the lender under the second facility. Ferox’s land, buildings and accounts receivable secure the credit facilities. As of March 31, 2012, there were bank guarantees of $2,600 supported by the Ferox credit facilities.

Flow Instruments & Engineering GmbH (“Flow”), a wholly-owned subsidiary of Ferox, maintains two revolving lines of credit with 320 euros in borrowing capacity. During the first quarter of 2012, a line of credit with 170 euros in borrowing capacity was canceled. As of March 31, 2012, there were no borrowings outstanding under the remaining line of credit of 150 euros.

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Restructuring Activities (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		15 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Jun. 30, 2011
Restructuring Cost and Reserve [Line Items]
Restructuring cost		$ 199	$ 7,300
Summary of restructuring activities
Beginning balance	1,113	2,578
Restructuring charges	26	1,101
Cash payments and other	(590)	(957)
Ending balance	549	2,722
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cost		902
Energy & Chemicals [Member]
Summary of restructuring activities
Beginning balance	0	103
Restructuring charges	0	0
Cash payments and other	0	(39)
Ending balance	0	64
Distribution & Storage [Member]
Summary of restructuring activities
Beginning balance	115	387
Restructuring charges	0	(1)
Cash payments and other	(73)	(128)
Ending balance	42	258
BioMedical [Member]
Summary of restructuring activities
Beginning balance	998	2,088
Restructuring charges	26	1,102
Cash payments and other	(517)	(790)
Ending balance	507	2,400
Corporate [Member]
Summary of restructuring activities
Beginning balance	0	0
Restructuring charges	0	0
Cash payments and other	0	0
Ending balance	0	0
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cost		11
Selling, general and administrative expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cost		1,090
Selling, general and administrative expense [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cost	$ 26

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current Assets
Cash and cash equivalents	$ 242,520	$ 256,861
Accounts receivable, net	127,254	131,904
Inventories, net	167,855	149,822
Unbilled contract revenue	26,735	25,247
Prepaid expenses	9,199	7,088
Other current assets	32,194	26,707
Total Current Assets	605,757	597,629
Property, plant and equipment, net	141,952	137,301
Goodwill	289,436	288,770
Identifiable intangible assets, net	137,334	140,553
Other assets, net	9,908	10,222
TOTAL ASSETS	1,184,387	1,174,475
Current Liabilities
Short-term debt	4,761	4,758
Accounts payable	72,304	84,297
Customer advances and billings in excess of contract revenue	109,894	102,996
Accrued salaries wages, and benefits	21,284	29,108
Warranty reserve	12,197	13,181
Current portion of long-term debt	6,500	6,500
Other current liabilities	28,210	24,653
Total Current Liabilities	255,150	265,493
Long-term debt	223,837	223,224
Long-term deferred tax liability, net	45,841	43,945
Accrued pension liabilities	15,457	15,905
Other long-term liabilities	7,998	12,357
Chart Industries’ shareholders’ equity:
Common stock, par value $.01 per share – 150,000,000 shares authorized, 29,899,189 and 29,612,684 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	299	296
Additional paid-in capital	339,145	333,034
Retained earnings	288,799	274,716
Accumulated other comprehensive income	5,257	2,993
Total Chart Industries, Inc. shareholders’ equity	633,500	611,039
Noncontrolling interest	2,604	2,512
Total equity	636,104	613,551
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,184,387	$ 1,174,475

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Basis of Preparation

3 Months Ended

Mar. 31, 2012

Accounting Policies [Abstract]

Basis of Preparation

Basis of Preparation

The accompanying unaudited condensed consolidated financial statements of Chart Industries, Inc. and its subsidiaries (the “Company” or “Chart”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for annual financial statements. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation. Investments in affiliates where the Company’s ownership is between 20 percent and 50 percent, or where the Company does not have control, but has the ability to exercise significant influence over operations or financial policy, are accounted for under the equity method.

Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Nature of Operations: The Company is a leading global manufacturer of standard and custom-engineered products and systems serving a wide variety of low-temperature and cryogenic applications. The Company has developed an expertise in cryogenic systems and equipment, which operate at low temperatures sometimes approaching absolute zero. The majority of the Company’s products, including vacuum insulated containment vessels, heat exchangers, cold boxes and other cryogenic components, are used throughout the liquid-gas supply chain for the purification, liquefaction, distribution, storage and end-use of industrial gases and hydrocarbons. The Company has domestic operations located across the United States, including the principal executive offices located in Ohio, and an international presence in Asia, Australia and Europe.

Reclassification: Certain reclassifications have been made to the 2011 condensed consolidated statement of cash flow in order to conform to the 2012 presentation.

Cost of Sales: Manufacturing expenses associated with sales are included in cost of sales. Cost of sales include all materials, direct and indirect labor, inbound freight, purchasing and receiving, inspection, internal transfers and distribution and warehousing of inventory. In addition, shop supplies, facility maintenance costs, manufacturing engineering, project management and depreciation expense for assets used in the manufacturing process are included in cost of sales.

Selling, general and administrative costs (“SG&A”): SG&A includes selling, marketing, customer service, product management, design engineering, and other administrative costs not directly supporting the manufacturing process as well as depreciation expense associated with non-manufacturing assets. In addition, SG&A includes corporate operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit, risk management and stock-based compensation expense.

Cash and Cash Equivalents: The Company considers all investments with an initial maturity of three months or less when purchased to be cash equivalents. The March 31, 2012 and December 31, 2011 balances include money market investments, certificates of deposit, and commercial paper. Chart Cryogenic Distribution Equipment (Changzhou) Company, Limited, a joint venture of the Company, held $988 in restricted cash on deposit to cover guarantees.

Short-Term Investments: From time to time, the Company invests in short-term, highly liquid, variable rate instruments, which have stated maturities of greater than three months but less than six months. These short term investments are recorded at cost which approximates fair value. The Company has determined that its investment securities are available and intended for use in current operations and, accordingly, classifies investment securities as current assets. There are no short term investments at March 31, 2012 or December 31, 2011.

Inventories: Inventories are stated at the lower of cost or market with cost being determined by the first-in, first-out (“FIFO”) method. The components of inventory are as follows:

	March 31, 2012		December 31, 2011
Raw materials and supplies	$	69,833	$	64,832
Work in process	41,093		36,045
Finished goods	56,929		48,945
	$	167,855	$	149,822

Revenue Recognition: For the majority of the Company’s products, revenue is recognized when products are shipped, title has transferred and collection is reasonably assured. For these products, there is also persuasive evidence of an arrangement and the selling price to the buyer is fixed or determinable. For brazed aluminum heat exchangers, cold boxes, liquefied natural gas fueling stations and engineered tanks, the Company uses the percentage of completion method of accounting. Earned revenue is based on the percentage of incurred costs to date compared to total estimated costs at completion after giving effect to the most current estimates. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known. Earned revenue reflects the original contract price adjusted for agreed upon claims and change orders, if any. Losses expected to be incurred on contracts in process, after consideration of estimated minimum recoveries from claims and change orders, are charged to operations as soon as such losses are known. Pre-contract costs relate primarily to salaries and benefits incurred to support the selling effort are expensed as incurred. Change orders resulting in additional revenue and profit are recognized upon approval by the customer based on the percentage of incurred costs to date compared to total estimated costs at completion. Certain contracts include incentive-fee arrangements. The incentive fees in such contracts can be based on a variety of factors but the most common are the achievement of target completion dates, target costs, and/or other performance criteria. Incentive fee revenue is not recognized until it is earned. Timing of amounts billed on contracts varies from contract to contract and could cause a significant variation in working capital requirements. The Company reports sales net of tax assessed by qualifying governmental authorities.

Product Warranties: The Company provides product warranties with varying terms and durations for the majority of its products. The Company calculates its warranty reserve by considering historical warranty experience and specifically identified warranty issues. The Company records warranty expense in cost of sales. The changes in the Company’s consolidated warranty reserve during the three months ended March 31, 2012 and 2011 are as follows:

	Three Months Ended March 31,
	2012			2011
Beginning balance	$	13,181		$	13,372
Warranty expense	989			2,171
Warranty usage	(1,973		)	(1,982		)
Ending balance	$	12,197		$	13,561

Goodwill and Other Intangible Assets: The Company does not amortize goodwill or other indefinite-lived intangible assets, but reviews them at least annually for impairment, and on an interim basis if necessary, using a measurement date of October 1st. The Company amortizes intangible assets that have finite lives over their useful lives.

With respect to goodwill, the Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The reporting units are the same as our operating segments, which are also the reportable segments: Energy & Chemicals, Distribution & Storage, and BioMedical. The Company first evaluates relevant events and circumstances, such as macroeconomic conditions and the Company's overall financial performance to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company then evaluates how significant each of the identified factors could be to the fair value or carrying amount of a reporting unit and weighs these factors in totality in forming a conclusion whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the first and second steps of the goodwill impairment test are not necessary. Otherwise, the Company would perform the first step of the two-step goodwill impairment test. As of October 1, 2011 and based on the Company's qualitative assessment, the Company determined that it was not more likely than not that the fair value is less than the carrying amount of each reporting unit and, therefore, the two-step goodwill impairment test was not necessary.

With respect to other indefinite-lived intangible assets, the Company determines the fair value of any indefinite-lived intangible assets using an income approach, compares the fair value to its carrying amount and records an impairment loss if the carrying amount exceeds its fair value. The Company uses the relief from royalty method to develop fair value estimates for trade names and trademarks. This method focuses on the level of royalty payments that the user of an intangible asset would be willing to pay for the use of the asset if it were not owned by the user. This method has been consistently applied between years. As of October 1, 2011, the Company determined that the fair values of trademarks, trade names, and in-process research and development exceeded their carrying amounts.

The following table displays the gross carrying amount and accumulated amortization for all intangible assets:

		March 31, 2012					December 31, 2011
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived assets:
Unpatented technology	9 years	$	18,229	$	(9,562	)	$	18,113	$	(9,024	)
Patents	10 years	8,978		(6,482		)	9,080		(5,434		)
Product names	14 years	5,674		(1,858		)	5,638		(1,818		)
Customer relations	13 years	130,614		(50,634		)	130,488		(48,840		)
		$	163,495	$	(68,536	)	$	163,319	$	(65,116	)
Indefinite-lived intangible assets:
Trademarks and trade names		$	39,305				$	39,280
In-process research and development		3,070					3,070
		$	42,375				$	42,350

The following table represents the changes in goodwill:

Balance as of January 1, 2012	$	288,770
Foreign currency adjustments	666
Balance as of March 31, 2012	$	289,436

Amortization expense for intangible assets subject to amortization was $3,070 and $3,317 for the three months ended March 31, 2012 and 2011, respectively, and is estimated to be approximately $13,300 for 2012 and an average of $10,800 for years 2013 through 2017.

Stock-based Compensation: The Company records stock-based compensation according to current accounting guidance which requires all share-based payments to employees and directors, including grants of employee stock options, to be measured at fair value on the date of grant.

During the three months ended March 31, 2012, the Company granted 104 stock options, 31 shares of restricted stock and stock unit awards and 34 performance stock units and leveraged restricted stock units. The stock options vest over a four year period. Restricted stock and stock unit awards vest over a three year period and performance stock units and leveraged restricted stock units vest at the end of three years based on the achievement of certain performance and market conditions.

During the three months ended March 31, 2012, participants in the Company's stock option plans exercised options to purchase 184 shares of the Company's common stock.

Stock-based compensation expense was $2,505 and $1,401 for the three months ended March 31, 2012 and 2011, respectively. As of March 31, 2012, the total stock-based compensation expected to be recognized over the weighted average period of approximately 2.1 years is $9,077.

Convertible Debt: The Company determines if the embedded conversion feature within the Convertible Senior Subordinated Notes (the “Convertible Notes”) is clearly and closely related to the Company’s common stock and therefore exempt from separate accounting treatment under ASC 815, “Accounting for Derivative Instruments and Hedging Activities.” Convertible Notes exempt from derivative accounting are recognized according to ASC 470-20, “Debt with Conversion and Other Options” by bifurcating the principal balance into a liability component and an equity component where the fair value of the liability component is estimated by calculating the present value of its cash flows discounted at an interest rate that the Company would have received for similar debt instruments that have no conversion rights (the “straight-debt rate”), and the equity component is the residual amount, net of tax, which creates a discount on the Convertible Notes. The Company subsequently recognizes non-cash interest expense as the carrying value of the Convertible Notes is accreted back to its principal amount.

Recently Issued Accounting Pronouncements: In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-12, “Comprehensive Income – Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05 (Topic 220).” The amendments were made to allow the FASB time to consider whether there should be additional presentation and disclosure requirements for reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented. All other requirements in ASU 2011-05 are not affected by this update. This ASU is effective for fiscal years beginning after December 15, 2011. The adoption of this guidance did not have a material impact on the financial statements of the Company.

In September 2011, the FASB issued ASU 2011-09, “Compensation – Retirement Benefits – Multiemployer Plans (Subtopic 715-80).” The Company has historically participated in the multiemployer plan for union employees at the Company's La Crosse, Wisconsin facility. The amendments in the ASU require the Company to provide additional separate disclosures for multiemployer pension plans and multiemployer other postretirement benefit plans. The amendments are effective for fiscal years ending after December 15, 2011 and are applied retrospectively for all prior periods presented. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows.

In September 2011, the FASB issued ASU 2011-08, “Intangibles – Goodwill and Other (Topic 350).” The amendments in the ASU permit an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. If an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the first and second steps of the goodwill impairment test are not necessary. Otherwise, the entity would perform the first step of the two-step goodwill impairment test. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011. The Company early adopted the new guidance and its adoption did not have a material impact on the Company’s financial position, results of operations or cash flows.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220).” The amendments in the ASU revise the manner in which entities present comprehensive income in their financial statements. The new guidance removes the presentation options in Topic 220 and requires entities to report components of comprehensive income in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements. The amendments do not change the items that must be reported in other comprehensive income. This ASU is effective for fiscal years beginning after December 15, 2011. The adoption of this guidance did not have a material impact on the financial statements of the Company since the amendments affect financial statement presentation only.

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (Topic 820).” The amendments in the ASU aim to align the principles for fair value measurements and the related disclosure requirements in accordance with U.S. GAAP and IFRS. This ASU mainly contains clarifications such as the specification that the concepts of highest and best use and valuation premise in a fair value measurement are relevant only when measuring the fair value of nonfinancial assets and are not relevant when measuring the fair value of financial assets or of liabilities. The ASU also requires new disclosures under U.S. GAAP such as quantitative information about the unobservable inputs used in a fair value measurement that is categorized within the Level 3 of the fair value hierarchy. This ASU is effective during interim and annual periods beginning after December 15, 2011. Early adoption by public companies is not permitted. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows.

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Acquisitions (Details) In Thousands, unless otherwise specified	3 Months Ended							12 Months Ended
	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)	Mar. 31, 2012 GOFA [Member] USD ($)	Aug. 03, 2011 GOFA [Member] USD ($)	Aug. 03, 2011 GOFA [Member] EUR (€)	Mar. 31, 2012 Clever Fellows Innovation Consortium [Member]	Apr. 02, 2011 Clever Fellows Innovation Consortium [Member] USD ($)	Mar. 31, 2012 Clever Fellows Innovation Consortium [Member] BioMedical [Member] USD ($)
Business Acquisition [Line Items]
Business combination equity interest percentage				100.00%	100.00%		100.00%
Working capital adjustment					€ 947
Fair value of net assets aquired				28,372			732
Goodwill				11,438			2,938
Net income	14,152	7,403	1,637
Purchase price allocation:
Cash				1,974
Accounts receivable				4,645
Inventory				8,382
Property and equipment				15,555
Other assets				118
Intangible assets				7,258
Liabilities assumed				(9,560)
Total purchase price				39,810	26,261
Duration for payments of contingent consideration						3 years
Potential purchase price in cash							5,000
Cash paid for acquistion							2,000
Sales	$ 216,106	$ 162,941						$ 308

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2012

Statement of Income and Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component are as follows:

	Three Months Ended March 31, 2012
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2012	$	12,635	$	(9,642	)	$	2,993
Other comprehensive income, net of tax	2,021		243			2,264
Balance as of March 31, 2012	$	14,656	$	(9,399	)	$	5,257

	Three Months Ended March 31, 2011
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2011	$	14,938	$	(5,127	)	$	9,811
Other comprehensive income, net of tax	6,035		30			6,065
Balance as of March 31, 2011	$	20,973	$	(5,097	)	$	15,876

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Income Taxes (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Income Tax Expense (Benefit) [Abstract]
Liability for gross unrecognized tax benefits	$ 1,535
Accrual for interest and penalties	77
Decrease in gross unrecognized tax benefits resulting from prior period tax positions	$ 905
Effective income tax rate	29.00%	31.50%
U.S. federal statutory income tax rate	35.00%

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Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs

The following table sets forth the components of net periodic pension expense for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012			2011
Interest cost	$	552		$	603
Expected return on plan assets	(662		)	(644		)
Amortization of net loss	243			91
Total pension expense	$	133		$	50

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Fair Value Measurements

3 Months Ended

Mar. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The Company measures assets and liabilities at fair value on a recurring basis in three levels of input. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is:

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company is exposed to foreign currency exchange risk as a result of transactions in currencies other than the functional currency of certain subsidiaries. The Company utilizes foreign currency forward purchase and sale contracts to manage the volatility associated with foreign currency purchases and certain intercompany transactions in the normal course of business. Contracts typically have maturities of less than one year. Principal currencies include the euro, British pound, and Czech koruna. The Company’s foreign currency forward contracts do not qualify as hedges as defined by accounting guidance. Changes in their fair value are recorded in the consolidated statement of income and comprehensive income as foreign currency gains or losses. The changes in fair value generated a net loss and net gain of $384 and $668 for the three months ended March 31, 2012 and 2011, respectively. As of March 31, 2012, the Company held forward currency contracts to sell (i) 13,700 euros against the U.S. dollar, (ii) 3,370 euros against the Czech koruna, (iii) 1,300 Polish złoty against the euro, (iv) 60,000 Japanese yen against the U.S. dollar, (v) 325 Australian dollars against the U.S. dollar, (vi) 925 British pounds against the U.S. dollar, (vii) 2,250 Norwegian kroner against the euro, and (viii) 4,700 Czech koruna against the U.S. dollar. As of March 31, 2012, the fair value of the Company’s derivative assets and liabilities representing foreign currency forward contracts was $44 and $282, respectively. These amounts were recorded in the unaudited condensed consolidated balance sheet as other current assets and liabilities. As of December 31, 2011, the Company held forward currency contracts to buy 17,500 Czech koruna against the euro and to sell (i) 11,500 euros against the U.S. dollar, (ii) 4,700 Czech koruna against the U.S. Dollar, (iii) 130,000 Japanese yen against the U.S. dollar, (iv) 3,340 euros against the Czech koruna, (v) 3,000 Norwegian kroner against the euro, and (vi) 250 British pounds against the U.S. dollar. As of December 31, 2011, the fair value of the Company’s derivative assets and liabilities representing foreign currency forward contracts was $489 and $191, respectively. These were recorded in the condensed consolidated balance sheet as other current assets and liabilities. The Company’s foreign currency forward contracts are not exchange traded instruments and, accordingly, are classified as being valued using Level 2 inputs which are based on observable inputs such as quoted prices for similar assets and liabilities in active markets.

The Company does not enter into derivative instruments for trading or speculative purposes.

The fair value of the Company’s term loan as described in Note C below is estimated based on the present value of the underlying cash flows discounted using market interest rates. Under this method, the fair value of the Company’s term loan was $44,659 and $45,426 as of March 31, 2012 and December 31, 2011, respectively. The Company’s term loan uses other inputs that are observable and, accordingly, are classified as being valued using Level 2 inputs.

The the fair value of the Convertible Notes exceeded its carrying amount by approximately 128% to 129% as of March 31, 2012 and approximately 107% to 108% as of December 31, 2011. The Convertible Notes are actively quoted instruments and, accordingly, are classified as being valued using Level 1 inputs. The fair value of the liability component of the Convertible Notes is based on the present value of its associated cash flows using a market interest rate for similar debt instruments without a conversion feature. The liability component of the Convertible Notes use quoted prices for similar liabilities in active markets and, accordingly, are classified as being valued using Level 2 inputs.

The estimated fair value of the contingent consideration relating to the acquisitions of Clever Fellows Innovation Consortium, Inc., SeQual Technologies, Inc., and Cryotech International, Inc. as of March 31, 2012 and December 31, 2011 was $7,584 and $7,067, respectively, valued according to a discounted cash flow approach, which includes assumptions for the probabilities of achieving the gross sales targets and the discount rate applied to the projected payments. The increase in fair value of the contingent consideration for the three months ended March 31, 2012 of $517 was recorded as selling, general and administrative expenses in the condensed consolidated statement of income and comprehensive income. The valuation of contingent consideration is classified as utilizing Level 3 inputs consistent with reasonably available assumptions which would be made by other market participants.

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Condensed Consolidated Balance Sheets Parenthetical (USD $) In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	29,899,189	29,612,684
Common stock, shares outstanding	29,899,189	29,612,684

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Basis of Preparation (Policies)

3 Months Ended

Mar. 31, 2012

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation. Investments in affiliates where the Company’s ownership is between 20 percent and 50 percent, or where the Company does not have control, but has the ability to exercise significant influence over operations or financial policy, are accounted for under the equity method.

Use of Estimates

Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Reclassifications

Reclassification: Certain reclassifications have been made to the 2011 condensed consolidated statement of cash flow in order to conform to the 2012 presentation.

Cost of Sales

Cost of Sales: Manufacturing expenses associated with sales are included in cost of sales. Cost of sales include all materials, direct and indirect labor, inbound freight, purchasing and receiving, inspection, internal transfers and distribution and warehousing of inventory. In addition, shop supplies, facility maintenance costs, manufacturing engineering, project management and depreciation expense for assets used in the manufacturing process are included in cost of sales.

Selling, general and administrative costs

Selling, general and administrative costs (“SG&A”): SG&A includes selling, marketing, customer service, product management, design engineering, and other administrative costs not directly supporting the manufacturing process as well as depreciation expense associated with non-manufacturing assets. In addition, SG&A includes corporate operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit, risk management and stock-based compensation expense.

Cash and Cash Equivalents

Cash and Cash Equivalents: The Company considers all investments with an initial maturity of three months or less when purchased to be cash equivalents. The March 31, 2012 and December 31, 2011 balances include money market investments, certificates of deposit, and commercial paper.

Short-Term Investments

Short-Term Investments: From time to time, the Company invests in short-term, highly liquid, variable rate instruments, which have stated maturities of greater than three months but less than six months. These short term investments are recorded at cost which approximates fair value. The Company has determined that its investment securities are available and intended for use in current operations and, accordingly, classifies investment securities as current assets. There are no short term investments at March 31, 2012 or December 31, 2011.

Inventories

Inventories: Inventories are stated at the lower of cost or market with cost being determined by the first-in, first-out (“FIFO”) method.

Revenue Recognition

Revenue Recognition: For the majority of the Company’s products, revenue is recognized when products are shipped, title has transferred and collection is reasonably assured. For these products, there is also persuasive evidence of an arrangement and the selling price to the buyer is fixed or determinable. For brazed aluminum heat exchangers, cold boxes, liquefied natural gas fueling stations and engineered tanks, the Company uses the percentage of completion method of accounting. Earned revenue is based on the percentage of incurred costs to date compared to total estimated costs at completion after giving effect to the most current estimates. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known. Earned revenue reflects the original contract price adjusted for agreed upon claims and change orders, if any. Losses expected to be incurred on contracts in process, after consideration of estimated minimum recoveries from claims and change orders, are charged to operations as soon as such losses are known. Pre-contract costs relate primarily to salaries and benefits incurred to support the selling effort are expensed as incurred. Change orders resulting in additional revenue and profit are recognized upon approval by the customer based on the percentage of incurred costs to date compared to total estimated costs at completion. Certain contracts include incentive-fee arrangements. The incentive fees in such contracts can be based on a variety of factors but the most common are the achievement of target completion dates, target costs, and/or other performance criteria. Incentive fee revenue is not recognized until it is earned. Timing of amounts billed on contracts varies from contract to contract and could cause a significant variation in working capital requirements. The Company reports sales net of tax assessed by qualifying governmental authorities.

Product Warranties

Product Warranties: The Company provides product warranties with varying terms and durations for the majority of its products. The Company calculates its warranty reserve by considering historical warranty experience and specifically identified warranty issues. The Company records warranty expense in cost of sales.

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets: The Company does not amortize goodwill or other indefinite-lived intangible assets, but reviews them at least annually for impairment, and on an interim basis if necessary, using a measurement date of October 1st. The Company amortizes intangible assets that have finite lives over their useful lives.

With respect to goodwill, the Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The reporting units are the same as our operating segments, which are also the reportable segments: Energy & Chemicals, Distribution & Storage, and BioMedical. The Company first evaluates relevant events and circumstances, such as macroeconomic conditions and the Company's overall financial performance to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company then evaluates how significant each of the identified factors could be to the fair value or carrying amount of a reporting unit and weighs these factors in totality in forming a conclusion whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the first and second steps of the goodwill impairment test are not necessary. Otherwise, the Company would perform the first step of the two-step goodwill impairment test. As of October 1, 2011 and based on the Company's qualitative assessment, the Company determined that it was not more likely than not that the fair value is less than the carrying amount of each reporting unit and, therefore, the two-step goodwill impairment test was not necessary.

With respect to other indefinite-lived intangible assets, the Company determines the fair value of any indefinite-lived intangible assets using an income approach, compares the fair value to its carrying amount and records an impairment loss if the carrying amount exceeds its fair value. The Company uses the relief from royalty method to develop fair value estimates for trade names and trademarks. This method focuses on the level of royalty payments that the user of an intangible asset would be willing to pay for the use of the asset if it were not owned by the user. This method has been consistently applied between years.

Stock-based Compensation

Stock-based Compensation: The Company records stock-based compensation according to current accounting guidance which requires all share-based payments to employees and directors, including grants of employee stock options, to be measured at fair value on the date of grant.

During the three months ended March 31, 2012, the Company granted 104 stock options, 31 shares of restricted stock and stock unit awards and 34 performance stock units and leveraged restricted stock units. The stock options vest over a four year period. Restricted stock and stock unit awards vest over a three year period and performance stock units and leveraged restricted stock units vest at the end of three years based on the achievement of

Convertible Debt

Convertible Debt: The Company determines if the embedded conversion feature within the Convertible Senior Subordinated Notes (the “Convertible Notes”) is clearly and closely related to the Company’s common stock and therefore exempt from separate accounting treatment under ASC 815, “Accounting for Derivative Instruments and Hedging Activities.” Convertible Notes exempt from derivative accounting are recognized according to ASC 470-20, “Debt with Conversion and Other Options” by bifurcating the principal balance into a liability component and an equity component where the fair value of the liability component is estimated by calculating the present value of its cash flows discounted at an interest rate that the Company would have received for similar debt instruments that have no conversion rights (the “straight-debt rate”), and the equity component is the residual amount, net of tax, which creates a discount on the Convertible Notes. The Company subsequently recognizes non-cash interest expense as the carrying value of the Convertible Notes is accreted back to its principal amount.

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Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2012	Apr. 26, 2012	Jun. 30, 2011
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Entity Registrant Name	CHART INDUSTRIES INC
Entity Central Index Key	0000892553
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,900,660
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,567,055,270

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Basis of Preparation (Tables)

3 Months Ended

Mar. 31, 2012

Accounting Policies [Abstract]

Schedule of Inventory, Current

The components of inventory are as follows:

	March 31, 2012		December 31, 2011
Raw materials and supplies	$	69,833	$	64,832
Work in process	41,093		36,045
Finished goods	56,929		48,945
	$	167,855	$	149,822

Schedule of Product Warranty Liability

The changes in the Company’s consolidated warranty reserve during the three months ended March 31, 2012 and 2011 are as follows:

	Three Months Ended March 31,
	2012			2011
Beginning balance	$	13,181		$	13,372
Warranty expense	989			2,171
Warranty usage	(1,973		)	(1,982		)
Ending balance	$	12,197		$	13,561

Schedule Of Finite Lived And Indefinite Lived Intangible Assets

The following table displays the gross carrying amount and accumulated amortization for all intangible assets:

		March 31, 2012					December 31, 2011
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived assets:
Unpatented technology	9 years	$	18,229	$	(9,562	)	$	18,113	$	(9,024	)
Patents	10 years	8,978		(6,482		)	9,080		(5,434		)
Product names	14 years	5,674		(1,858		)	5,638		(1,818		)
Customer relations	13 years	130,614		(50,634		)	130,488		(48,840		)
		$	163,495	$	(68,536	)	$	163,319	$	(65,116	)
Indefinite-lived intangible assets:
Trademarks and trade names		$	39,305				$	39,280
In-process research and development		3,070					3,070
		$	42,375				$	42,350

Schedule of Goodwill

The following table represents the changes in goodwill:

Balance as of January 1, 2012	$	288,770
Foreign currency adjustments	666
Balance as of March 31, 2012	$	289,436

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Condensed Consolidated Statements of Income and Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Sales	$ 216,106	$ 162,941
Cost of sales	148,549	110,455
Gross profit	67,557	52,486
Selling, general and administrative expenses	40,626	34,862
Amortization expense	3,070	3,317
Operating expenses	43,696	38,179
Operating income	23,861	14,307
Other expenses (income):
Interest expense, net	3,962	3,934
Financing costs amortization	321	325
Foreign currency gains	(352)	(759)
Other nonoperating income (expense)	3,931	3,500
Income before income taxes	19,930	10,807
Income tax expense	5,778	3,404
Net income	14,152	7,403
Noncontrolling interest, net of tax	69	(127)
Net income attributable to Chart Industries, Inc.	14,083	7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$ 0.48	$ 0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$ 0.47	$ 0.25
Weighted average number of common shares outstanding – basic	29,593	28,768
Weighted average number of common shares outstanding – diluted	30,061	29,678
Comprehensive income, net of tax	16,416	13,468
Less: Comprehensive income attributable to noncontrolling interest, net of tax	69	(127)
Comprehensive income attributable to Chart Industries, Inc., net of tax	$ 16,347	$ 13,595

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Acquisitions

3 Months Ended

Mar. 31, 2012

Business Combinations [Abstract]

Acquisitions

Acquisitions

On August 1, 2011, Chart Germany GmbH, a wholly-owned subsidiary of the Company, completed the acquisition of 100% of the equity interests of GOFA Gocher Fahrzeugbau GmbH and related companies (“GOFA”) for a total purchase price of €26,261 net of cash acquired, including a final working capital adjustment of €947. The fair value of the net assets acquired and goodwill at the date of acquisition were $28,372 and $11,438, respectively. The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed, and the related income tax impact of the acquisition adjustments. Goodwill was established due to the benefits that will be derived from the expansion of the Company's LNG distribution product offering in Europe. GOFA, located in Goch, Germany, designs, manufactures, sells and services cryogenic and noncryogenic mobile equipment. GOFA results are included in the Company’s Distribution & Storage segment and added $1,637 in net income during the three months ended March 31, 2012.

The purchase price allocation related to the GOFA acquisition is presented below:

Net assets acquired:
Cash	$	1,974
Accounts receivable	4,645
Inventory	8,382
Property and equipment	15,555
Other assets	118
Intangible assets	7,258
Goodwill	11,438
Liabilities assumed	(9,560		)
Total purchase price	$	39,810

On April 1, 2011, Chart Inc. completed the acquisition of 100% of the equity of Clever Fellows Innovation Consortium, Inc. (“CFIC”) for a total potential purchase price of $5,000 in cash, of which $2,000 has been paid. The remaining portion of the potential total purchase price represents contingent consideration to be paid over three years based on the attainment of certain revenue targets. The fair value of the net assets acquired and goodwill at the date of acquisition were $732 and $2,938, respectively. The goodwill was established due to the synergistic opportunities to enhance technology for cryogenic applications and grow sales in new product lines. CFIC is located in Troy, New York and develops and manufactures thermoacoustic technology products for cryogenic, heat transfer and related applications. CFIC's results are included in the Company’s BioMedical segment and added $308 in sales during the three months ended March 31, 2012.

Pro-forma information related to these acquisitions has not been presented because the impact on the Company’s consolidated results of operations is not material.

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Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2012

Statement of Income and Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component are as follows:

	Three Months Ended March 31, 2012
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2012	$	12,635	$	(9,642	)	$	2,993
Other comprehensive income, net of tax	2,021		243			2,264
Balance as of March 31, 2012	$	14,656	$	(9,399	)	$	5,257

	Three Months Ended March 31, 2011
	Foreign currency translation adjustments		Pension liability adjustments, net of taxes			Accumulated other comprehensive income
Balance as of January 1, 2011	$	14,938	$	(5,127	)	$	9,811
Other comprehensive income, net of tax	6,035		30			6,065
Balance as of March 31, 2011	$	20,973	$	(5,097	)	$	15,876

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Acquisitions (Tables)

3 Months Ended

Mar. 31, 2012

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The purchase price allocation related to the GOFA acquisition is presented below:

Net assets acquired:
Cash	$	1,974
Accounts receivable	4,645
Inventory	8,382
Property and equipment	15,555
Other assets	118
Intangible assets	7,258
Goodwill	11,438
Liabilities assumed	(9,560		)
Total purchase price	$	39,810

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Debt and Credit Arrangements (Tables)

3 Months Ended

Mar. 31, 2012

Debt Disclosure [Abstract]

Convertible Notes Payable Components

The following table represents the principal balance, the unamortized discount and the net carrying amount of the liability component and the carrying amount of the equity component of the Convertible Notes:

	March 31, 2012			December 31, 2011
Principal balance of liability component	$	250,000		$	250,000
Unamortized discount	(73,288		)	(75,526		)
Carrying value of liability component	$	176,712		$	174,474
Equity Component	$	79,115		$	79,115

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Reportable Segments

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Reportable Segments

Reportable Segments

The structure of the Company’s internal organization is divided into the following three reportable segments, which are also the Company's operating segments: Energy and Chemicals (“E&C”), Distribution and Storage (“D&S”) and BioMedical. The Company’s reportable segments are business units that are each managed separately because they manufacture, offer and distribute distinct products with different production processes and sales and marketing approaches. The E&C segment sells brazed aluminum and air-cooled heat exchangers, cold boxes and liquefied natural gas vacuum-insulated pipe to natural gas, petrochemical processing and industrial gas companies who use them for the liquefaction and separation of industrial and natural gases. The D&S segment sells cryogenic bulk storage systems, cryogenic packaged gas systems, cryogenic systems and components, beverage liquid CO₂ systems, cryogenic flow meter systems and cryogenic services to various companies for the storage and transportation of both industrial and natural gases. The BioMedical segment sells medical respiratory products, biological storage systems and other oxygen products. Due to the nature of the products that each segment sells, there are no intersegment sales. Corporate includes operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit, risk management and stock-based compensation expenses that are not allocated to the reporting segments.

The Company evaluates performance and allocates resources based on operating income or loss from continuing operations before net interest expense, financing costs amortization expense, foreign currency gain or loss, income taxes and noncontrolling interest. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

Information for the Company’s three reportable segments and its corporate headquarters is presented below:

	Three Months Ended March 31, 2012
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	68,824	$	105,092	$	42,190	$	—		$	216,106
Operating income (loss)	13,192		18,732		4,592		(12,655		)	23,861

	Three Months Ended March 31, 2011
	Energy &  Chemicals		Distribution & Storage		BioMedical		Corporate			Total
Sales	$	42,516	$	73,373	$	47,052	$	—		$	162,941
Operating income (loss)	3,753		11,521		8,447		(9,414		)	14,307

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Income Taxes

3 Months Ended

Mar. 31, 2012

Income Tax Expense (Benefit) [Abstract]

Income Taxes

Income Taxes

At March 31, 2012, the Company has recorded a $1,535 liability, in accordance with ASC 740-10-25 “Income Taxes,” for gross unrecognized tax benefits. This amount, if ultimately recognized, will reduce the Company’s annual effective tax rate. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. At March 31, 2012, the Company had accrued approximately $77 for the payment of interest and penalties. During the first quarter of 2012 the Internal Revenue Service (“IRS”) completed an examination of the Company's amended U.S. income tax returns for 2005 and 2006. As a result of the completion of the examination, the Company's gross unrecognized tax benefits decreased by $905.

The effective tax rate for the three months ended March 31, 2012 of 29.0% differs from the U.S. federal statutory rate of 35% primarily due to the decrease of gross unrecognized tax benefits and the effect of income earned by certain of the Company's foreign entities being taxed at lower rates than the federal statutory rate. The effective tax rate for the three months ended March 31, 2011 of 31.5% differs from the federal statutory rate primarily due to the effect of income earned by certain of the Company’s foreign entities being taxed at lower rates than the federal statutory rate.

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Employee Benefit Plans

3 Months Ended

Mar. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company has one defined benefit pension plan which is frozen that covers certain U.S. hourly and salaried employees. The defined benefit plan provides benefits based primarily on the participants’ years of service and compensation.

The following table sets forth the components of net periodic pension expense for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012			2011
Interest cost	$	552		$	603
Expected return on plan assets	(662		)	(644		)
Amortization of net loss	243			91
Total pension expense	$	133		$	50

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Subsequent Event

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

As described in Note C above, on April 25, 2012, the Company amended and restated its five-year $200,000 Senior Credit Facility with a five-year $375,000 senior credit facility (the "Restated Credit Facility") which consists of a $75,000 term loan (the "Term Loan") and a $300,000 revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate of $150,000 in term loans or revolving credit commitments from its existing and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75,000 Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.

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Accumulated Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Change in foreign currency translation adjustments
Balance at beginning of period	$ 12,635	$ 14,938
Other comprehensive income, net of tax	2,021	6,035
Balance at end of period	14,656	20,973
Change in pension liability adjustments, net of taxes
Balance at beginning of period	(9,642)	(5,127)
Other comprehensive income, net of tax	243	30
Balance at end of period	(9,399)	(5,097)
Change in accumulated other comprehensive income
Balance at beginning of period	2,993	9,811
Other comprehensive income, net of tax	2,264	6,065
Balance at end of period	$ 5,257	$ 15,876

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents calculations of net income per share of common stock for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012		2011
Net income attributable to Chart Industries, Inc.	$	14,083	$	7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$	0.48	$	0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$	0.47	$	0.25
Weighted average number of common shares outstanding – basic	29,593		28,768
Incremental shares issuable upon assumed conversion and exercise of stock options	468		910
Total shares – diluted	30,061		29,678

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Basis of Preparation (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Dec. 31, 2011
Accounting Policies [Abstract]
Minimum ownership percentage of investments in affiliates required to be accounted for under the equity method	20.00%
Maximum ownership percentage of investments in affiliates required to be accounted for under the equity method	50.00%
Maximum maturity duration considered to be cash and cash equivalents	3 months
Minimum maturity duration of short-term, highly liquid, variable-rate instruments	3 months
Maximum maturity duration of short-term, highly liquid, variable-rate instruments	6 months
Components of inventory:
Raw materials and supplies	$ 69,833		$ 64,832
Work in process	41,093		36,045
Finished goods	56,929		48,945
Inventories, net	167,855		149,822
Changes in the Company's consolidated warranty reserve:
Beginning balance	13,181	13,372
Warranty expense	989	2,171
Warranty usage	(1,973)	(1,982)
Ending balance	$ 12,197	$ 13,561

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
OPERATING ACTIVITIES
Net income	$ 14,152	$ 7,403
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	7,223	6,652
Interest accretion of convertible notes discount	2,238	0
Employee stock and stock option related compensation expense	2,505	1,401
Financing costs amortization	321	325
Foreign currency gains	(352)	(759)
Other non-cash operating activities	243	(291)
Increase (decrease) in cash resulting from changes in operating assets and liabilities:
Accounts receivable	5,391	(2,648)
Inventory	(17,074)	(12,911)
Unbilled contract revenues and other current assets	(1,662)	(255)
Accounts payable and other current liabilities	(27,619)	(12,548)
Customer advances and billings in excess of contract revenue	5,462	(7,207)
Net Cash Provided Used In Operating Activities	(9,172)	(20,838)
INVESTING ACTIVITIES
Capital expenditures	(6,345)	(4,266)
Other investing activities	0	388
Net Cash Used In Investing Activities	(6,345)	(3,878)
FINANCING ACTIVITIES
Principal payments on long-term debt	(1,625)	(1,625)
Proceeds from exercise of options	1,725	2,238
Tax benefit from exercise of stock options	6,355	2,452
Common stock repurchases	(4,473)	(1,090)
Net Cash Provided By Financing Activities	1,982	1,975
Effect of exchange rate changes on cash	(806)	4,625
Net decrease in cash and cash equivalents	(14,341)	(18,116)
Cash and cash equivalents at beginning of period	256,861	165,112
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 242,520	$ 146,996

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Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table presents calculations of net income per share of common stock for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,
	2012		2011
Net income attributable to Chart Industries, Inc.	$	14,083	$	7,530
Net income attributable to Chart Industries, Inc. per common share – basic	$	0.48	$	0.26
Net income attributable to Chart Industries, Inc. per common share – diluted	$	0.47	$	0.25
Weighted average number of common shares outstanding – basic	29,593		28,768
Incremental shares issuable upon assumed conversion and exercise of stock options	468		910
Total shares – diluted	30,061		29,678

Shares issuable under the Convertible Notes were excluded from diluted earnings per share since the average market price of the Company’s common stock during the period was less than the conversion price. Certain common shares that may be issuable upon the vesting of share-based awards were not included in net income attributable to Chart Industries, Inc. per common share – diluted as they were anti-dilutive and consisted of 105 shares for the three months ended March 31, 2012. There were no anti-dilutive share-based awards for the three months ended March 31, 2011.

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Basis of Preparation - Goodwill and Other Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Dec. 31, 2011
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Amortization expense	$ 3,070	$ 3,317
Gross carrying amount, finite-lived assets	163,495		163,319
Accumulated amortization, finite-lived assets	(68,536)		(65,116)
Indefinite-lived intangible assets	42,375		42,350
Changes in goodwill:
Balance as of January 1, 2012	288,770
Foreign currency adjustments	666
Balance as of March 31, 2012	289,436
Future estimated amortization expense:
2012	13,300
2013	10,800
2014	10,800
2015	10,800
2016	10,800
2017	10,800
Trademarks and trade names [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	39,305		39,280
In-process research and development [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	3,070		3,070
Unpatented technology [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangilbe assets (in year)	9
Gross carrying amount, finite-lived assets	18,229		18,113
Accumulated amortization, finite-lived assets	(9,562)		(9,024)
Patents [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangilbe assets (in year)	10
Gross carrying amount, finite-lived assets	8,978		9,080
Accumulated amortization, finite-lived assets	(6,482)		(5,434)
Product names [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangilbe assets (in year)	14
Gross carrying amount, finite-lived assets	5,674		5,638
Accumulated amortization, finite-lived assets	(1,858)		(1,818)
Customer relationships [Member]
Schedule of Finite-lived and Indefinite-lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangilbe assets (in year)	13
Gross carrying amount, finite-lived assets	130,614		130,488
Accumulated amortization, finite-lived assets	$ (50,634)		$ (48,840)

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Reportable Segments (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012 segments	Mar. 31, 2011
Segment Reporting Information [Line Items]
Number of reportable segments	3
Sales	$ 216,106	$ 162,941
Operating income (loss)	23,861	14,307
Energy & Chemicals [Member]
Segment Reporting Information [Line Items]
Sales	68,824	42,516
Operating income (loss)	13,192	3,753
Distribution & Storage [Member]
Segment Reporting Information [Line Items]
Sales	105,092	73,373
Operating income (loss)	18,732	11,521
BioMedical [Member]
Segment Reporting Information [Line Items]
Sales	42,190	47,052
Operating income (loss)	4,592	8,447
Corporate [Member]
Segment Reporting Information [Line Items]
Sales	0	0
Operating income (loss)	$ (12,655)	$ (9,414)

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Restructuring Activities (Tables)

3 Months Ended

Mar. 31, 2012

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following tables summarize the Company’s restructuring activities for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31, 2012
	Energy & Chemicals		Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2012	$	—	$	115		$	998		$	—	$	1,113
Restructuring charges	—		—			26			—		26
Cash payments and other	—		(73		)	(517		)	—		(590		)
Balance as of March 31, 2012	$	—	$	42		$	507		$	—	$	549

	Three Months Ended March 31, 2011
	Energy & Chemicals			Distribution & Storage			BioMedical			Corporate		Total
Balance as of January 1, 2011	$	103		$	387		$	2,088		$	—	$	2,578
Restructuring charges	—			(1		)	1,102			—		1,101
Cash payments and other	(39		)	(128		)	(790		)	—		(957		)
Balance as of March 31, 2011	$	64		$	258		$	2,400		$	—	$	2,722