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Revenues (Tables) | 3 Months Ended
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Mar. 31, 2020
Revenue from Contract with Customer [Abstract] |
Schedule of outstanding contract asset and (liability) accounts | The outstanding contract asset and liability accounts were as follows:
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Contract assets—January 1 |  | $ | 73,039 |  |  | $ | 58,266 |
Contract assets – March 31 |  |  | 80,796 |  |  |  | 76,323 |
Change in contract assets – increase |  |  | 7,757 |  |  |  | 18,057 |
Contract liabilities – January 1 |  |  | 167,306 |  |  |  | 146,162 |
Contract liabilities – March 31 |  |  | 194,433 |  |  |  | 147,776 |
Change in contract liabilities – increase |  |  | (27,127 | ) |  |  | (1,614 | )
Net change |  | $ | (19,370 | ) |  | $ | 16,443 |
Schedule of revenue from external customers by geographic areas | Information about the Company’s operations in different geographic areas for the three months ended March 31, 2020 is shown below. Net sales were attributed to geographic areas based on the location of the customer.
|  | Three months ended March 31, 2020 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
United States |  | $ | 406,545 |  |  | $ | 234,689 |  |  | $ | 641,234 |
International (1) : |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 14,793 |  |  |  | 33,138 |  |  |  | 47,931 |
European Union countries |  |  | 105,676 |  |  |  | 88,766 |  |  |  | 194,442 |
Asia |  |  | 164,745 |  |  |  | 43,830 |  |  |  | 208,575 |
Other foreign countries |  |  | 82,466 |  |  |  | 27,570 |  |  |  | 110,036 |
Total international |  |  | 367,680 |  |  |  | 193,304 |  |  |  | 560,984 |
Consolidated net sales |  | $ | 774,225 |  |  | $ | 427,993 |  |  | $ | 1,202,218 |
(1) | Includes U.S. export sales of $305.2 million.
Information about the Company’s operations in different geographic areas for the three months ended March 31, 2019 is shown below. Net sales were attributed to geographic areas based on the location of the customer.
|  | Three months ended March 31, 2019 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
United States |  | $ | 403,392 |  |  | $ | 260,754 |  |  | $ | 664,146 |
International (1) : |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 15,427 |  |  |  | 33,888 |  |  |  | 49,315 |
European Union countries |  |  | 102,785 |  |  |  | 106,419 |  |  |  | 209,204 |
Asia |  |  | 193,847 |  |  |  | 47,111 |  |  |  | 240,958 |
Other foreign countries |  |  | 91,460 |  |  |  | 32,608 |  |  |  | 124,068 |
Total international |  |  | 403,519 |  |  |  | 220,026 |  |  |  | 623,545 |
Consolidated net sales |  | $ | 806,911 |  |  | $ | 480,780 |  |  | $ | 1,287,691 |
(1) | Includes U.S. export sales of $325.4 million.
Schedule of revenue from external customers by products and services | The Company’s major products and services in the reportable segments were as follows:
|  | Three months ended March 31, 2020 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
Process and analytical instrumentation |  | $ | 548,440 |  |  | $ | — |  |  | $ | 548,440 |
Aerospace and power |  |  | 225,785 |  |  |  | 127,251 |  |  |  | 353,036 |
Automation and engineered solutions |  |  | — |  |  |  | 300,742 |  |  |  | 300,742 |
Consolidated net sales |  | $ | 774,225 |  |  | $ | 427,993 |  |  | $ | 1,202,218 |
|  | Three months ended March 31, 2019 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
Process and analytical instrumentation |  | $ | 577,340 |  |  | $ | — |  |  | $ | 577,340 |
Aerospace and power |  |  | 229,571 |  |  |  | 118,878 |  |  |  | 348,449 |
Automation and engineered solutions |  |  | — |  |  |  | 361,902 |  |  |  | 361,902 |
Consolidated net sales |  | $ | 806,911 |  |  | $ | 480,780 |  |  | $ | 1,287,691 |
Schedule of disaggregation of revenue |
|  | Three months ended March 31, 2020 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
Products transferred at a point in time |  | $ | 633,540 |  |  | $ | 379,059 |  |  | $ | 1,012,599 |
Products and services transferred over time |  |  | 140,685 |  |  |  | 48,934 |  |  |  | 189,619 |
Consolidated net sales |  | $ | 774,225 |  |  | $ | 427,993 |  |  | $ | 1,202,218 |
|  | Three months ended March 31, 2019 |
|  | EIG |  |  | EMG |  |  | Total |
|  | (In thousands) |
Products transferred at a point in time |  | $ | 677,833 |  |  | $ | 435,605 |  |  | $ | 1,113,438 |
Products and services transferred over time |  |  | 129,078 |  |  |  | 45,175 |  |  |  | 174,253 |
Consolidated net sales |  | $ | 806,911 |  |  | $ | 480,780 |  |  | $ | 1,287,691 |
Schedule of product warranty liability | Changes in the accrued product warranty obligation were as follows:
|  | Three Months Ended |
|  | March 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Balance at the beginning of the period |  | $ | 27,611 |  |  | $ | 23,482 |
Accruals for warranties issued during the period |  |  | 3,252 |  |  |  | 5,003 |
Settlements made during the period |  |  | (4,217 | ) |  |  | (4,789 | )
Warranty accruals related to acquired businesses and other during the period |  |  | 288 |  |  |  | (81 | )
Balance at the end of the period |  | $ | 26,934 |  |  | $ | 23,615 |

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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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