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Revenues (Tables)

12 Months Ended

Dec. 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 – December 31			95,274						68,971
Change in contract assets – (decrease) increase			26,303						(4,068)
Contract liabilities – January 1			215,093						167,306
Contract liabilities – December 31			328,816						215,093
Change in contract liabilities – increase			(113,723)						(47,787)
Net change			$	(87,420)					$	(51,855)

Revenue from External Customers by Geographic Areas

Information about the Company’s operations in different geographic areas was as follows for the year ended December 31:

			2021
			EIG						EMG						Total
			(In thousands)
United States			$	1,910,203					$	890,737					$	2,800,940
International(1):
United Kingdom			96,206						121,290						217,496
European Union countries			482,426						403,890						886,316
Asia			927,027						254,370						1,181,397
Other foreign countries			347,896						112,469						460,365
Total international			1,853,555						892,019						2,745,574
Consolidated net sales			$	3,763,758					$	1,782,756					$	5,546,514

_________________

(1)Includes U.S. export sales of $1,475.6 million.

			2020
			EIG						EMG						Total
			(In thousands)
United States			$	1,513,967					$	816,159					$	2,330,126
International(1):
United Kingdom			54,158						117,469						171,627
European Union countries			371,884						324,203						696,087
Asia			769,532						189,987						959,519
Other foreign countries			280,387						102,283						382,670
Total international			1,475,961						733,942						2,209,903
Consolidated net sales			$	2,989,928					$	1,550,101					$	4,540,029

_________________

(1)Includes U.S. export sales of $1,196.4 million.

			2019
			EIG						EMG						Total
			(In thousands)
United States			$	1,685,369					$	998,317					$	2,683,686
International(1):
United Kingdom			64,423						132,485						196,908
European Union countries			434,072						392,283						826,355
Asia			773,034						186,535						959,569
Other foreign countries			365,983						126,056						492,039
Total international			1,637,512						837,359						2,474,871
Consolidated net sales			$	3,322,881					$	1,835,676					$	5,158,557

_________________

(1)Includes U.S. export sales of $1,306.2 million

Revenue from External Customers by Products and Services

The Company’s major products and services in the reportable segments were as follows for the year ended December 31:

			2021
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	2,627,476					$	—					$	2,627,476
Aerospace and power			1,136,282						506,925						1,643,207
Automation and engineered solutions			—						1,275,831						1,275,831
Consolidated net sales			$	3,763,758					$	1,782,756					$	5,546,514

			2020
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	2,199,167					$	—					$	2,199,167
Aerospace and power			790,761						466,343						1,257,104
Automation and engineered solutions			—						1,083,758						1,083,758
Consolidated net sales			$	2,989,928					$	1,550,101					$	4,540,029

			2019
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	2,393,587					$	—					$	2,393,587
Aerospace and power			929,294						491,171						1,420,465
Automation and engineered solutions			—						1,344,505						1,344,505
Consolidated net sales			$	3,322,881					$	1,835,676					$	5,158,557

Schedule of Disaggregation of Revenue

The Company’s timing of revenue recognition was as follows for the year ended December 31:

			2021
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	3,048,819					$	1,596,911					$	4,645,730
Products and services transferred over time			714,939						185,845						900,784
Consolidated net sales			$	3,763,758					$	1,782,756					$	5,546,514

			2020
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	2,427,254					$	1,390,574					$	3,817,828
Products and services transferred over time			562,674						159,527						722,201
Consolidated net sales			$	2,989,928					$	1,550,101					$	4,540,029

			2019
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	2,680,296					$	1,670,448					$	4,350,744
Products and services transferred over time			642,585						165,228						807,813
Consolidated net sales			$	3,322,881					$	1,835,676					$	5,158,557

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			2021						2020						2019
			(In thousands)
Balance at the beginning of the year			$	27,839					$	27,611					$	23,482
Accruals for warranties issued during the year			11,518						12,000						21,145
Settlements made during the year			(13,669)						(14,602)						(19,637)
Warranty accruals related to acquired businesses and other during the year			1,790						2,830						2,621
Balance at the end of the year			$	27,478					$	27,839					$	27,611

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
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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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