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Operating Segments and Geographic Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Operating Segments and Geographic Information Operating Segments and Geographic Information
We are organized around two global businesses: Enterprise Solutions and Industrial Automation Solutions. Each of the global businesses represents a reportable segment. In conjunction with the Tripwire divestiture during 2022, we changed the name of our former Industrial Solutions segment to Industrial Automation Solutions. The composition of the segment did not change as a result of this name change. The segments design, manufacture, and market a portfolio of signal transmission solutions for mission critical applications used in a variety of end markets. We sell the products manufactured by our segments through distributors or directly to systems integrators, original equipment manufacturers (OEMs), end-users, and installers.
The key measures of segment profit or loss reviewed by our chief operating decision maker are Segment Revenues and Segment EBITDA. Segment Revenues represent non-affiliate revenues. Segment EBITDA excludes certain items, including depreciation expense; amortization of intangibles; asset impairment; severance, restructuring, and acquisition integration costs; adjustments related to acquisitions and divestitures; and other costs. We allocate corporate expenses to the segments for purposes of measuring Segment EBITDA. Corporate expenses are allocated on the basis of each segment’s relative EBITDA prior to the allocation.
Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing.
Operating Segment Information
Enterprise SolutionsYears Ended December 31,
 202220212020
 (In thousands)
Segment revenues$1,198,478 $1,074,426 $872,417 
Segment EBITDA161,517 144,509 99,333 
Depreciation expense23,387 21,627 20,655 
Amortization of intangibles17,595 17,595 21,662 
Amortization of software development intangible assets54 94 245 
Adjustments related to acquisitions and divestitures5,589 (7,052)125 
Severance, restructuring, and acquisition integration costs9,200 13,800 7,720 
Acquisition of property, plant and equipment33,535 36,726 25,223 
Segment assets593,653 563,141 462,615 

Industrial Automation SolutionsYears Ended December 31,
 202220212020
 (In thousands)
Segment revenues$1,408,007 $1,226,834 $879,775 
Segment EBITDA277,079 222,684 132,302 
Depreciation expense23,282 21,446 18,684 
Amortization of intangibles20,265 13,035 7,379 
Amortization of software development intangible assets3,821 1,485 627 
Adjustments related to acquisitions and divestitures2,244 2,017 — 
Severance, restructuring, and acquisition integration costs7,485 10,067 3,944 
Asset impairments— 9,283 — 
Acquisition of property, plant and equipment58,713 41,269 37,002 
Segment assets677,235 600,380 471,320 

Total SegmentsYears Ended December 31,
 202220212020
 (In thousands)
Segment revenues$2,606,485 $2,301,260 $1,752,192 
Segment EBITDA438,596 367,193 231,635 
Depreciation expense46,669 43,073 39,339 
Amortization of intangibles37,860 30,630 29,041 
Amortization of software development intangible assets3,875 1,579 872 
Adjustments related to acquisitions and divestitures7,833 (5,035)125 
Severance, restructuring, and acquisition integration costs16,685 23,867 11,664 
Asset impairments— 9,283 — 
Acquisition of property, plant and equipment92,248 77,995 62,225 
Segment assets1,270,888 1,163,521 933,935 

The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.
 Years Ended December 31,
 202220212020
(In thousands)
Segment Revenues and Consolidated Revenues$2,606,485 $2,301,260 $1,752,192 
Total Segment EBITDA$438,596 $367,193 $231,635 
Depreciation expense(46,669)(43,073)(39,339)
Amortization of intangibles(37,860)(30,630)(29,041)
Severance, restructuring, and acquisition integration costs (1)(16,685)(23,867)(11,664)
Adjustments related to acquisitions and divestitures (2)(7,833)5,035 (125)
Amortization of software development intangible assets(3,875)(1,579)(872)
Asset impairments (3)— (9,283)— 
Gain on sale of asset (4)37,891 — — 
Eliminations(231)(120)(480)
Consolidated operating income363,334 263,676 150,114 
Interest expense, net(43,554)(62,693)(58,903)
Loss on debt extinguishment(6,392)(5,715)— 
Non-operating pension benefit (cost)4,005 4,476 (395)
Gain on sale of note receivable— 27,036 — 
Consolidated income from continuing operations before taxes$317,393 $226,780 $90,816 
(1)See Note 15, Severance, Restructuring, and Acquisition Integration Activities, for details.
(2)In 2022, we incurred $10.1 million for lease guarantees associated with the Grass Valley disposal (see Note 12), $2.2 million related to fair value adjustments of acquired inventory and investments, and gains of $4.5 million on collections from previously written off receivables associated with the sale of Grass Valley. In 2021, we collected $2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $5.8 million, recognized cost of sales of $2.3 million related to adjustments of acquired inventory to fair value, and recognized a $0.6 million loss on the sale of tangible assets. In 2020, we recognized $0.1 million of cost of sales related to adjustments of acquired inventory to fair value.
(3)In 2021, we recognized a $3.6 million impairment on assets held and used and a $5.7 million impairment on assets held for sale. See Note 11, Property, Plant, and Equipment, for details.
(4)During 2022, we sold certain real estate in the United States for $42.2 million, net of transaction costs and recognized a $37.9 million pre-tax gain on sale. See Note 11, Property, Plant, and Equipment, for details.
Below are reconciliations of other segment measures to the consolidated totals. 
 Years Ended December 31,
 202220212020
 (In thousands)
Total segment assets$1,270,888 $1,163,521 $933,935 
Cash and cash equivalents
687,676 641,563 500,666 
Goodwill
862,253 821,448 789,736 
Intangible assets, less accumulated amortization
246,830 238,155 219,092 
Deferred income taxes
14,642 31,736 28,736 
Corporate assets
79,386 72,102 83,943 
Assets of discontinued operations
— 449,152 583,626 
Total assets$3,161,675 $3,417,677 $3,139,734 
Total segment acquisition of property, plant and equipment$92,248 $77,995 $62,225 
    Corporate acquisition of property, plant and equipment12,846 6,855 3,605 
Discontinued operations acquisition of property, plant and equipment— 6,132 24,385 
Total acquisition of property, plant and equipment$105,094 $90,982 $90,215 
Geographic Information
The Company attributes foreign sales based on the location of the customer purchasing the product. The table below summarizes net sales and long-lived assets for the years ended December 31, 2022, 2021, and 2020 for the following countries: U.S., Canada, China, and Germany. No other individual foreign country’s net sales or long-lived assets are material to the Company.
United
 States		CanadaChinaGermanyAll OtherTotal
 (In thousands, except percentages)
Year ended December 31, 2022
Revenues$1,448,247 $188,013 $126,904 $131,485 $711,836 $2,606,485 
Percent of total revenues56 %7 %5 %5 %27 %100 %
Long-lived assets$203,070 $12,805 $45,866 $44,061 $122,565 $428,367 
Year ended December 31, 2021
Revenues$1,201,540 $186,834 $149,036 $112,710 $651,140 $2,301,260 
Percent of total revenues52 %8 %7 %5 %28 %100 %
Long-lived assets$170,420 $12,578 $46,776 $37,208 $106,140 $373,122 
Year ended December 31, 2020
Revenues$939,339 $113,642 $111,826 $90,374 $497,011 $1,752,192 
Percent of total revenues54 %7 %6 %5 %28 %100 %
Long-lived assets$154,078 $31,925 $44,824 $63,100 $113,836 $407,763 
Major Customer
Revenues generated in both the Enterprise Solutions and Industrial Automation Solutions segments from our largest customer were approximately $387.7 million (15% of revenues), $374.8 million (16% of revenues), and $271.6 million (16% of revenues) for the years ended December 31, 2022, 2021, and 2020, respectively. At December 31, 2022 and 2021, we had $28.8 million and $40.5 million in accounts receivable outstanding from this customer, which represented approximately 7% and 11% of our total accounts receivable balance as of December 31, 2022 and 2021, respectively.