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Revenues (Tables)

9 Months Ended

Sep. 30, 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 – September 30			68,157						78,010
Change in contract assets – (decrease) increase			(4,882)						19,744
Contract liabilities – January 1			167,306						146,162
Contract liabilities – September 30			198,660						152,897
Change in contract liabilities – increase			(31,354)						(6,735)
Net change			$	(36,236)					$	13,009

Schedule of revenue from external customers by geographic areas

Information about the Company’s operations in different geographic areas for the three and nine months ended September 30, 2020 is shown below. Net sales were attributed to geographic areas based on the location of the customer.

			Three months ended September 30, 2020																		Nine months ended September 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	379,744					$	198,440					$	578,184					$	1,125,046					$	622,498					$	1,747,544
International(1):
United Kingdom			11,488						28,657						40,145						39,708						84,547						124,255
European Union countries			97,028						78,851						175,879						282,605						246,944						529,549
Asia			188,254						47,496						235,750						514,189						138,862						653,051
Other foreign countries			71,858						25,126						96,984						208,931						77,752						286,683
Total international			368,628						180,130						548,758						1,045,433						548,105						1,593,538
Consolidated net sales			$	748,372					$	378,570					$	1,126,942					$	2,170,479					$	1,170,603					$	3,341,082

________________

(1)    Includes U.S. export sales of $303.2 million and $866.3 million for the three and nine months ended September 30, 2020, respectively.

Information about the Company’s operations in different geographic areas for the three and nine months ended September 30, 2019 is shown below. Net sales were attributed to geographic areas based on the location of the customer.

			Three months ended September 30, 2019																		Nine months ended September 30, 2019
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	421,629					$	252,343					$	673,972					$	1,250,564					$	764,001					$	2,014,565
International(1):
United Kingdom			19,538						34,319						53,857						47,885						100,657						148,542
European Union countries			99,180						98,357						197,537						302,800						308,138						610,938
Asia			190,419						46,347						236,766						569,553						142,035						711,588
Other foreign countries			84,786						29,715						114,501						271,908						96,195						368,103
Total international			393,923						208,738						602,661						1,192,146						647,025						1,839,171
Consolidated net sales			$	815,552					$	461,081					$	1,276,633					$	2,442,710					$	1,411,026					$	3,853,736

______________

(1)    Includes U.S. export sales of $317.6 million and $965.1 million for the three and nine months ended September 30, 2019, respectively.

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 September 30, 2020																		Nine months ended September 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	557,570					$	—					$	557,570					$	1,589,550					$	—					$	1,589,550
Aerospace and power			190,802						116,126						306,928						580,929						347,510						928,439
Automation and engineered solutions			—						262,444						262,444						—						823,093						823,093
Consolidated net sales			$	748,372					$	378,570					$	1,126,942					$	2,170,479					$	1,170,603					$	3,341,082

			Three months ended September 30, 2019																		Nine months ended September 30, 2019
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	586,430					$	—					$	586,430					$	1,747,708					$	—					$	1,747,708
Aerospace and power			229,122						123,228						352,350						695,002						362,498						1,057,500
Automation and engineered solutions			—						337,853						337,853						—						1,048,528						1,048,528
Consolidated net sales			$	815,552					$	461,081					$	1,276,633					$	2,442,710					$	1,411,026					$	3,853,736

Schedule of disaggregation of revenue

			Three months ended September 30, 2020																		Nine months ended September 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	603,602					$	346,237					$	949,839					$	1,762,310					$	1,049,798					$	2,812,108
Products and services transferred over time			144,770						32,333						177,103						408,169						120,805						528,974
Consolidated net sales			$	748,372					$	378,570					$	1,126,942					$	2,170,479					$	1,170,603					$	3,341,082

			Three months ended September 30, 2019																		Nine months ended September 30, 2019
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	652,950					$	416,280					$	1,069,230					$	1,984,938					$	1,286,060					$	3,270,998
Products and services transferred over time			162,602						44,801						207,403						457,772						124,966						582,738
Consolidated net sales			$	815,552					$	461,081					$	1,276,633					$	2,442,710					$	1,411,026					$	3,853,736

Schedule of product warranty liability

Changes in the accrued product warranty obligation were as follows:

			Nine Months Ended September 30,
			2020						2019
			(In thousands)
Balance at the beginning of the period			$	27,611					$	23,482
Accruals for warranties issued during the period			9,766						14,342
Settlements made during the period			(11,513)						(13,335)
Warranty accruals related to acquired businesses and other during the period			2,594						617
Balance at the end of the period			$	28,458					$	25,106

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

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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.

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