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Revenues (Tables)

9 Months Ended

Sep. 30, 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 – September 30			151,451						139,771
Change in contract assets – increase (decrease)			10,625						20,030
Contract liabilities – January 1			432,830						398,692
Contract liabilities – September 30			396,172						422,415
Change in contract liabilities – decrease (increase)			36,658						(23,723)
Net change			$	47,283					$	(3,693)

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, 2024																		Nine months ended September 30, 2024
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
United States			$	561,273					$	333,575					$	894,848					$	1,732,847					$	1,019,636					$	2,752,483
International(1):
United Kingdom			25,247						31,160						56,407						79,713						95,107						174,820
European Union countries			123,271						109,071						232,342						393,941						331,047						724,988
Asia			301,858						60,008						361,866						881,893						166,517						1,048,410
Other foreign countries			122,939						40,162						163,101						356,586						122,291						478,877
Total international			573,315						240,401						813,716						1,712,133						714,962						2,427,095
Consolidated net sales			$	1,134,588					$	573,976					$	1,708,564					$	3,444,980					$	1,734,598					$	5,179,578

________________

(1)    Includes U.S. export sales of $465.1 million and $1,374.4 million for the three and nine months ended September 30, 2024, respectively.

			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.

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, 2024																		Nine months ended September 30, 2024
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Process and analytical instrumentation			$	779,772					$	—					$	779,772					$	2,374,034					$	—					$	2,374,034
Aerospace and power			354,816						160,177						514,993						1,070,946						467,092						1,538,038
Automation and engineered solutions			—						413,799						413,799						—						1,267,506						1,267,506
Consolidated net sales			$	1,134,588					$	573,976					$	1,708,564					$	3,444,980					$	1,734,598					$	5,179,578

			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

Schedule of Disaggregation of Revenue

			Three months ended September 30, 2024																		Nine months ended September 30, 2024
			EIG						EMG						Total						EIG						EMG						Total
			(In thousands)
Products transferred at a point in time			$	904,622					$	515,035					$	1,419,657					$	2,776,552					$	1,557,412					$	4,333,964
Products and services transferred over time			229,966						58,941						288,907						668,428						177,186						845,614
Consolidated net sales			$	1,134,588					$	573,976					$	1,708,564					$	3,444,980					$	1,734,598					$	5,179,578

			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

Schedule of Product Warranty Liability

Changes in the accrued product warranty obligation were as follows:

			Nine Months Ended September 30,
			2024						2023
			(In thousands)
Balance at the beginning of the period			$	37,087					$	26,487
Accruals for warranties issued during the period			18,049						15,711
Settlements made during the period			(16,219)						(10,868)
Warranty accruals related to acquired businesses and other during the period			247						21
Balance at the end of the period			$	39,164					$	31,351

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- 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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