XML 34 R24.htm IDEA: XBRL DOCUMENT v3.22.2.2

Revenues (Tables)

9 Months Ended

Sep. 30, 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 – September 30			111,687						82,986
Change in contract assets – increase (decrease)			16,413						14,015
Contract liabilities – January 1			328,816						215,093
Contract liabilities – September 30			371,411						311,674
Change in contract liabilities – (increase) decrease			(42,595)						(96,581)
Net change			$	(26,182)					$	(82,566)

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 nine months ended September 30:

			Three months ended September 30, 2022																		Nine months ended September 30, 2022
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	554,048					$	265,549					$	819,597					$	1,589,641					$	737,362					$	2,327,003
International(1):
United Kingdom			18,409						28,694						47,103						65,414						88,945						154,359
European Union countries			113,935						100,427						214,362						344,074						322,620						666,694
Asia			264,432						70,375						334,807						776,084						203,439						979,523
Other foreign countries			103,300						32,617						135,917						294,918						102,366						397,284
Total international			500,076						232,113						732,189						1,480,490						717,370						2,197,860
Consolidated net sales			$	1,054,124					$	497,662					$	1,551,786					$	3,070,131					$	1,454,732					$	4,524,863

________________

(1)    Includes U.S. export sales of $415.4 million and $1,217.2 million for the three and nine months ended September 30, 2022.

			Three months ended September 30, 2021																		Nine months ended September 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	509,075					$	230,524					$	739,599					$	1,393,015					$	666,618					$	2,059,633
International(1):
United Kingdom			25,358						32,846						58,204						67,954						91,465						159,419
European Union countries			117,035						102,069						219,104						338,556						300,970						639,526
Asia			242,063						65,624						307,687						657,478						192,267						849,745
Other foreign countries			88,284						27,803						116,087						249,670						84,776						334,446
Total international			472,740						228,342						701,082						1,313,658						669,478						1,983,136
Consolidated net sales			$	981,815					$	458,866					$	1,440,681					$	2,706,673					$	1,336,096					$	4,042,769

______________

(1)    Includes U.S. export sales of $391.0 million and $1,087.3 million for the three and nine months ended September 30, 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 September 30, 2022																		Nine months ended September 30, 2022
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	758,868					$	—					$	758,868					$	2,219,821					$	—					$	2,219,821
Aerospace and power			295,256						143,689						438,945						850,310						407,771						1,258,081
Automation and engineered solutions			—						353,973						353,973						—						1,046,961						1,046,961
Consolidated net sales			$	1,054,124					$	497,662					$	1,551,786					$	3,070,131					$	1,454,732					$	4,524,863

			Three months ended September 30, 2021																		Nine months ended September 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	661,243					$	—					$	661,243					$	1,881,923					$	—					$	1,881,923
Aerospace and power			320,572						130,671						451,243						824,750						379,310						1,204,060
Automation and engineered solutions			—						328,195						328,195						—						956,786						956,786
Consolidated net sales			$	981,815					$	458,866					$	1,440,681					$	2,706,673					$	1,336,096					$	4,042,769

Schedule of Disaggregation of Revenue

			Three months ended September 30, 2022																		Nine months ended September 30, 2022
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	869,455					$	436,222					$	1,305,677					$	2,522,351					$	1,272,382					$	3,794,733
Products and services transferred over time			184,669						61,440						246,109						547,780						182,350						730,130
Consolidated net sales			$	1,054,124					$	497,662					$	1,551,786					$	3,070,131					$	1,454,732					$	4,524,863

			Three months ended September 30, 2021																		Nine months ended September 30, 2021
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	791,486					$	413,062					$	1,204,548					$	2,206,252					$	1,204,662					$	3,410,914
Products and services transferred over time			190,329						45,804						236,133						500,421						131,434						631,855
Consolidated net sales			$	981,815					$	458,866					$	1,440,681					$	2,706,673					$	1,336,096					$	4,042,769

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Nine Months Ended September 30,
			2022						2021
			(In thousands)
Balance at the beginning of the period			$	27,478					$	27,839
Accruals for warranties issued during the period			8,530						8,379
Settlements made during the period			(8,769)						(9,112)
Warranty accruals related to acquired businesses and other during the period			(1,080)						2,227
Balance at the end of the period			$	26,159					$	29,333

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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126907703&loc=d3e12565-110249

+ Details

Name:	us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration