XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.22.1

Revenues (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Outstanding Contract Asset and (Liability) Accounts | The outstanding contract asset and liability accounts were as follows:
| 2022 |  | 2021
| (In thousands)
Contract assets—January 1 | $ | 95,274 |  |  | $ | 68,971 |
Contract assets – March 31 | 102,703 |  |  | 71,415 |
Change in contract assets – increase (decrease) | 7,429 |  |  | 2,444 |
Contract liabilities – January 1 | 328,816 |  |  | 215,093 |
Contract liabilities – March 31 | 351,053 |  |  | 253,047 |
Change in contract liabilities – (increase) decrease | (22,237) |  |  | (37,954) |
Net change | $ | (14,808) |  |  | $ | (35,510) |
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:
| Three months ended March 31, 2022 |  |
| EIG |  | EMG |  | Total |  |  |  |  |  |
| (In thousands)
United States | $ | 483,626 |  |  | $ | 230,641 |  |  | $ | 714,267 |  |  |  |  |  |  |
International(1): |  |  |  |  |  |  |  |  |  |  |
United Kingdom | 27,955 |  |  | 28,757 |  |  | 56,712 |  |  |  |  |  |  |
European Union countries | 120,714 |  |  | 114,149 |  |  | 234,863 |  |  |  |  |  |  |
Asia | 256,420 |  |  | 63,406 |  |  | 319,826 |  |  |  |  |  |  |
Other foreign countries | 99,044 |  |  | 33,813 |  |  | 132,857 |  |  |  |  |  |  |
Total international | 504,133 |  |  | 240,125 |  |  | 744,258 |  |  |  |  |  |  |
Consolidated net sales | $ | 987,759 |  |  | $ | 470,766 |  |  | $ | 1,458,525 |  |  |  |  |  |  |
________________ (1) Includes U.S. export sales of $409.2 million for the three months ended March 31, 2022.
| 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 for the three months ended March 31, 2021.
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, 2022 |  |
| EIG |  | EMG |  | Total |  |  |  |  |  |
| (In thousands)
Process and analytical instrumentation | $ | 692,692 |  |  | $ | — |  |  | $ | 692,692 |  |  |  |  |  |  |
Aerospace and power | 295,067 |  |  | 126,742 |  |  | 421,809 |  |  |  |  |  |  |
Automation and engineered solutions | — |  |  | 344,024 |  |  | 344,024 |  |  |  |  |  |  |
Consolidated net sales | $ | 987,759 |  |  | $ | 470,766 |  |  | $ | 1,458,525 |  |  |  |  |  |  |
| 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 |  |  |  |  |  |  |
Schedule of Disaggregation of Revenue |
| Three months ended March 31, 2022 |  |
| EIG |  | EMG |  | Total |  |  |  |  |  |
| (In thousands)
Products transferred at a point in time | $ | 812,948 |  |  | $ | 412,654 |  |  | $ | 1,225,602 |  |  |  |  |  |  |
Products and services transferred over time | 174,811 |  |  | 58,112 |  |  | 232,923 |  |  |  |  |  |  |
Consolidated net sales | $ | 987,759 |  |  | $ | 470,766 |  |  | $ | 1,458,525 |  |  |  |  |  |  |
| 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 |  |  |  |  |  |  |
Schedule of Product Warranty Liability | Changes in the accrued product warranty obligation were as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
| (In thousands)
Balance at the beginning of the period | $ | 27,478 |  |  | $ | 27,839 |
Accruals for warranties issued during the period | 2,753 |  |  | 2,780 |
Settlements made during the period | (3,023) |  |  | (3,292) |
Warranty accruals related to acquired businesses and other during the period | (166) |  |  | (99) |
Balance at the end of the period | $ | 27,042 |  |  | $ | 27,228 |

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 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=123368208&loc=d3e12565-110249 + Details
Name: | us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration