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Revenues (Tables)

6 Months Ended

Jun. 30, 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 – June 30			73,853						67,804
Change in contract assets – increase (decrease)			4,882						(5,235)
Contract liabilities – January 1			215,093						167,306
Contract liabilities – June 30			333,409						199,967
Change in contract liabilities – increase			(118,316)						(32,661)
Net change			$	(113,434)					$	(37,896)

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 and six months ended June 30:

			Three months ended June 30, 2021																		Six months ended June 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	495,039					$	225,912					$	720,951					$	883,940					$	436,094					$	1,320,034
International(1):
United Kingdom			20,649						28,568						49,217						42,596						58,619						101,215
European Union countries			117,856						103,604						221,460						221,521						198,901						420,422
Asia			217,854						65,449						283,303						415,415						126,643						542,058
Other foreign countries			82,536						28,879						111,415						161,386						56,973						218,359
Total international			438,895						226,500						665,395						840,918						441,136						1,282,054
Consolidated net sales			$	933,934					$	452,412					$	1,386,346					$	1,724,858					$	877,230					$	2,602,088

________________

(1)    Includes U.S. export sales of $365.5 million and $696.4 million for the three and six months ended June 30, 2021, respectively.

			Three months ended June 30, 2020																		Six months ended June 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	338,757					$	189,369					$	528,126					$	745,302					$	424,058					$	1,169,360
International(1):
United Kingdom			13,427						22,752						36,179						28,220						55,890						84,110
European Union countries			79,901						79,327						159,228						185,577						168,093						353,670
Asia			161,190						47,536						208,726						325,935						91,366						417,301
Other foreign countries			54,607						25,056						79,663						137,073						52,626						189,699
Total international			309,125						174,671						483,796						676,805						367,975						1,044,780
Consolidated net sales			$	647,882					$	364,040					$	1,011,922					$	1,422,107					$	792,033					$	2,214,140

______________

(1)    Includes U.S. export sales of $257.9 million and $563.1 million for the three and six months ended June 30, 2020, 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 June 30, 2021																		Six months ended June 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	644,121					$	—					$	644,121					$	1,220,680					$	—					$	1,220,680
Aerospace and power			289,813						126,466						416,279						504,178						248,639						752,817
Automation and engineered solutions			—						325,946						325,946						—						628,591						628,591
Consolidated net sales			$	933,934					$	452,412					$	1,386,346					$	1,724,858					$	877,230					$	2,602,088

			Three months ended June 30, 2020																		Six months ended June 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	483,540					$	—					$	483,540					$	1,031,980					$	—					$	1,031,980
Aerospace and power			164,342						104,133						268,475						390,127						231,384						621,511
Automation and engineered solutions			—						259,907						259,907						—						560,649						560,649
Consolidated net sales			$	647,882					$	364,040					$	1,011,922					$	1,422,107					$	792,033					$	2,214,140

Schedule of Disaggregation of Revenue

			Three months ended June 30, 2021																		Six months ended June 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	767,514					$	408,569					$	1,176,083					$	1,414,766					$	791,600					$	2,206,366
Products and services transferred over time			166,420						43,843						210,263						310,092						85,630						395,722
Consolidated net sales			$	933,934					$	452,412					$	1,386,346					$	1,724,858					$	877,230					$	2,602,088

			Three months ended June 30, 2020																		Six months ended June 30, 2020
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	525,168					$	324,502					$	849,670					$	1,158,708					$	703,561					$	1,862,269
Products and services transferred over time			122,714						39,538						162,252						263,399						88,472						351,871
Consolidated net sales			$	647,882					$	364,040					$	1,011,922					$	1,422,107					$	792,033					$	2,214,140

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Six Months Ended June 30,
			2021						2020
			(In thousands)
Balance at the beginning of the period			$	27,839					$	27,611
Accruals for warranties issued during the period			5,964						6,874
Settlements made during the period			(6,620)						(7,605)
Warranty accruals related to acquired businesses and other during the period			2,169						326
Balance at the end of the period			$	29,352					$	27,206

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=123351226&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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