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Revenues (Tables)

9 Months Ended

Sep. 30, 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 – September 30			139,771						111,687
Change in contract assets – increase (decrease)			20,030						16,413
Contract liabilities – January 1			398,692						328,816
Contract liabilities – September 30			422,415						371,411
Change in contract liabilities – (increase) decrease			(23,723)						(42,595)
Net change			$	(3,693)					$	(26,182)

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, 2023																		Nine months ended September 30, 2023
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	616,988					$	274,146					$	891,134					$	1,754,165					$	805,876					$	2,560,041
International(1):
United Kingdom			23,327						30,348						53,675						74,515						89,812						164,327
European Union countries			115,026						99,931						214,957						381,495						327,614						709,109
Asia			271,922						47,699						319,621						846,450						151,357						997,807
Other foreign countries			108,867						34,583						143,450						331,398						103,383						434,781
Total international			519,142						212,561						731,703						1,633,858						672,166						2,306,024
Consolidated net sales			$	1,136,130					$	486,707					$	1,622,837					$	3,388,023					$	1,478,042					$	4,866,065

________________

(1)    Includes U.S. export sales of $391.7 million and $1,265.0 million for the three and nine months ended September 30, 2023, respectively.

			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					$	736,626					$	2,326,267
International(1):
United Kingdom			18,409						28,694						47,103						65,414						89,071						154,485
European Union countries			113,935						100,427						214,362						344,074						322,607						666,681
Asia			264,432						70,375						334,807						776,084						204,006						980,090
Other foreign countries			103,300						32,617						135,917						294,918						102,422						397,340
Total international			500,076						232,113						732,189						1,480,490						718,106						2,198,596
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, respectively.

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, 2023																		Nine months ended September 30, 2023
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	801,027					$	—					$	801,027					$	2,394,127					$	—					$	2,394,127
Aerospace and power			335,103						146,843						481,946						993,896						439,685						1,433,581
Automation and engineered solutions			—						339,864						339,864						—						1,038,357						1,038,357
Consolidated net sales			$	1,136,130					$	486,707					$	1,622,837					$	3,388,023					$	1,478,042					$	4,866,065

			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

Schedule of Disaggregation of Revenue

			Three months ended September 30, 2023																		Nine months ended September 30, 2023
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	937,382					$	437,542					$	1,374,924					$	2,809,624					$	1,314,761					$	4,124,385
Products and services transferred over time			198,748						49,165						247,913						578,399						163,281						741,680
Consolidated net sales			$	1,136,130					$	486,707					$	1,622,837					$	3,388,023					$	1,478,042					$	4,866,065

			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

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Nine Months Ended September 30,
			2023						2022
			(In thousands)
Balance at the beginning of the period			$	26,487					$	27,478
Accruals for warranties issued during the period			15,711						8,530
Settlements made during the period			(10,868)						(8,769)
Warranty accruals related to acquired businesses and other during the period			21						(1,080)
Balance at the end of the period			$	31,351					$	26,159

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.

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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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