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Revenues (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of outstanding contract asset and (liability) accounts

The outstanding contract asset and liability accounts were as follows:

			2021						2020
			(In thousands)
Contract assets—January 1			$	68,971					$	73,039
Contract assets – March 31			71,415						80,796
Change in contract assets – increase			2,444						7,757
Contract liabilities – January 1			215,093						167,306
Contract liabilities – March 31			253,047						194,433
Change in contract liabilities – increase			(37,954)						(27,127)
Net change			$	(35,510)					$	(19,370)

Schedule of revenue from external customers by geographic areas

Information about the Company’s operations in different geographic areas was as follows for the three months ended March 31:

			2021
			EIG						EMG						Total
			(In thousands)
United States			$	388,901					$	210,182					$	599,083
International(1):
United Kingdom			21,947						30,051						51,998
European Union countries			103,665						95,297						198,962
Asia			197,561						61,194						258,755
Other foreign countries			78,850						28,094						106,944
Total international			402,023						214,636						616,659
Consolidated net sales			$	790,924					$	424,818					$	1,215,742

________________

(1)    Includes U.S. export sales of $331.2 million.

			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.

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, 2021
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	576,559					$	—					$	576,559
Aerospace and power			214,365						122,173						336,538
Automation and engineered solutions			—						302,645						302,645
Consolidated net sales			$	790,924					$	424,818					$	1,215,742

			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

Schedule of disaggregation of revenue

			Three months ended March 31, 2021
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	647,252					$	383,031					$	1,030,283
Products and services transferred over time			143,672						41,787						185,459
Consolidated net sales			$	790,924					$	424,818					$	1,215,742

			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

Schedule of product warranty liability

Changes in the accrued product warranty obligation were as follows:

			Three Months Ended March 31,
			2021						2020
			(In thousands)
Balance at the beginning of the period			$	27,839					$	27,611
Accruals for warranties issued during the period			2,780						3,252
Settlements made during the period			(3,292)						(4,217)
Warranty accruals related to acquired businesses and other during the period			(99)						288
Balance at the end of the period			$	27,228					$	26,934

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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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 entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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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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