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Revenues (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Outstanding Contract Asset and (Liability) Accounts

The outstanding contract asset and liability accounts were as follows:

			2023						2022
			(In thousands)
Contract assets—January 1			$	119,741					$	95,274
Contract assets – March 31			127,412						102,703
Change in contract assets – increase (decrease)			7,671						7,429
Contract liabilities – January 1			398,692						328,816
Contract liabilities – March 31			432,695						351,053
Change in contract liabilities – (increase) decrease			(34,003)						(22,237)
Net change			$	(26,332)					$	(14,808)

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, 2023
			EIG						EMG						Total
			(In thousands)
United States			$	561,896					$	247,119					$	809,015
International(1):
United Kingdom			28,038						31,062						59,100
European Union countries			135,658						116,807						252,465
Asia			283,892						50,905						334,797
Other foreign countries			107,763						33,977						141,740
Total international			555,351						232,751						788,102
Consolidated net sales			$	1,117,247					$	479,870					$	1,597,117

________________

(1)    Includes U.S. export sales of $434.2 million for the three months ended March 31, 2023.

			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.

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, 2023
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	794,433					$	—					$	794,433
Aerospace and power			322,814						143,050						465,864
Automation and engineered solutions			—						336,820						336,820
Consolidated net sales			$	1,117,247					$	479,870					$	1,597,117

			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

Schedule of Disaggregation of Revenue

			Three months ended March 31, 2023
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	935,308					$	413,601					$	1,348,909
Products and services transferred over time			181,939						66,269						248,208
Consolidated net sales			$	1,117,247					$	479,870					$	1,597,117

			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

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Three Months Ended March 31,
			2023						2022
			(In thousands)
Balance at the beginning of the period			$	26,487					$	27,478
Accruals for warranties issued during the period			3,411						2,753
Settlements made during the period			(3,224)						(3,023)
Warranty accruals related to acquired businesses and other during the period			133						(166)
Balance at the end of the period			$	26,807					$	27,042

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
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

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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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