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Revenues (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Outstanding Contract Asset and (Liability) Accounts

The outstanding contract asset and liability accounts were as follows:

			2024						2023
			(In thousands)
Contract assets—January 1			$	140,826					$	119,741
Contract assets – March 31			146,948						127,412
Change in contract assets – increase (decrease)			6,122						7,671
Contract liabilities – January 1			432,830						398,692
Contract liabilities – March 31			439,365						432,695
Change in contract liabilities – (increase) decrease			(6,535)						(34,003)
Net change			$	(413)					$	(26,332)

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, 2024
			EIG						EMG						Total
			(In thousands)
United States			$	568,897					$	343,860					$	912,757
International(1):
United Kingdom			26,707						28,192						54,899
European Union countries			142,242						114,986						257,228
Asia			298,045						50,199						348,244
Other foreign countries			120,888						42,164						163,052
Total international			587,882						235,541						823,423
Consolidated net sales			$	1,156,779					$	579,401					$	1,736,180

________________

(1)    Includes U.S. export sales of $473.8 million for the three months ended March 31, 2024.

			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.

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, 2024
			EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	791,538					$	—					$	791,538
Aerospace and power			365,241						152,452						517,693
Automation and engineered solutions			—						426,949						426,949
Consolidated net sales			$	1,156,779					$	579,401					$	1,736,180

			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

Schedule of Disaggregation of Revenue

			Three months ended March 31, 2024
			EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	945,998					$	503,585					$	1,449,583
Products and services transferred over time			210,781						75,816						286,597
Consolidated net sales			$	1,156,779					$	579,401					$	1,736,180

			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

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Three Months Ended March 31,
			2024						2023
			(In thousands)
Balance at the beginning of the period			$	37,087					$	26,487
Accruals for warranties issued during the period			4,867						3,411
Settlements made during the period			(5,761)						(3,224)
Warranty accruals related to acquired businesses and other during the period			32						133
Balance at the end of the period			$	36,225					$	26,807

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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