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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

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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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