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Summary of Significant Accounting Policies (Policies) | 6 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Trade Accounts Receivable | Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for expected credit losses represents the Company’s best estimate based on historical information, current information, and reasonable and supportable forecasts of future events and circumstances.
Inventories | Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required in the future. Inventories consisted of the following:
| June 30, 2025 |  | December 31, 2024
Raw materials and parts | $ | 179,788 |  |  | $ | 161,416 |
Work-in-progress | 79,042 |  |  | 69,488 |
Finished goods | 129,251 |  |  | 111,370 |
| $ | 388,081 |  |  | $ | 342,274 |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill and indefinite-lived intangible assets are generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair values of the assets are less than their carrying amounts. Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangibles - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following:
| June 30, 2025 |  | December 31, 2024
| Gross Amount |  | Accumulated Amortization |  | Intangibles, Net |  | Gross Amount |  | Accumulated Amortization |  | Intangibles, Net
Customer relationships | $ | 296,272 |  |  | $ | (124,999) |  |  | $ | 171,273 |  |  | $ | 289,178 |  |  | $ | (116,812) |  |  | $ | 172,366 |
Proven technology and patents | 128,845 |  |  | (88,172) |  |  | 40,673 |  |  | 123,971 |  |  | (80,634) |  |  | 43,337 |
Tradenames (finite life) | 8,191 |  |  | (6,026) |  |  | 2,165 |  |  | 7,853 |  |  | (5,308) |  |  | 2,545 |
Tradenames (indefinite life) | 35,167 |  |  | — |  |  | 35,167 |  |  | 35,088 |  |  | — |  |  | 35,088 |
Other | 13,200 |  |  | (8,950) |  |  | 4,250 |  |  | 12,426 |  |  | (8,619) |  |  | 3,807 |
| $ | 481,675 |  |  | $ | (228,147) |  |  | $ | 253,528 |  |  | $ | 468,516 |  |  | $ | (211,373) |  |  | $ | 257,143 |
The Company recognized amortization expense associated with the above intangible assets of $6.6 million and $6.7 million for the three months ended June 30, 2025 and 2024, respectively, and $13.2 million and $13.6 million for the six months ended June 30, 2025 and 2024, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated to be $27.4 million for 2025, $24.4 million for 2026, $23.6 million for 2027, $21.0 million for 2028, $19.0 million for 2029, and $18.1 million for 2030. Purchased intangible amortization was $6.5 million, $5.0 million after tax, and $6.5 million, $5.0 million after tax, for the three months ended June 30, 2025 and 2024, respectively, and $12.8 million, $9.9 million after tax, and $13.1 million, $10.1 million after tax, for the six months ended June 30, 2025 and 2024, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $10.9 million and $11.4 million for the three months ended June 30, 2025 and 2024, respectively, and $21.4 million and $22.7 million for the six months ended June 30, 2025 and 2024, respectively.
Revenue Recognition | Revenue Recognition Product revenue is recognized from contracts with customers when a customer has obtained control of a product. The Company considers control to have transferred based upon shipping terms. To the extent the Company’s arrangements have a separate performance obligation, revenue related to any post-shipment performance obligation is deferred until completed. Shipping and handling costs charged to customers are included in total net sales and the associated expense is a component of cost of sales. Certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the end customer. Revenue is recognized on these distributor arrangements upon transfer of control to the distributor. Contracts do not contain variable pricing arrangements that are retrospective, except for rebate programs. Rebates are estimated based on expected sales volumes and offset against revenue at the time such revenue is recognized. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. The related provisions for estimated returns and rebates are immaterial to the consolidated financial statements. Certain of the Company’s product arrangements include separate performance obligations, primarily related to installation. Such performance obligations are accounted for separately when the deliverables have stand-alone value and the satisfaction of the undelivered performance obligations is probable and within the Company's control. The allocation of revenue between the performance obligations is based on the observable stand-alone selling prices at the time of the sale in accordance with a number of factors including service technician billing rates, time to install, and geographic location. Software is generally not considered a distinct performance obligation with the exception of a limited number of software applications. The Company primarily sells software products with the related hardware instrument as the software is embedded in the product. The Company’s products typically require no significant production, modification, or customization of the hardware or software that is essential to the functionality of the products. Service revenue not under contract is recognized upon the completion of the service performed. Revenue from spare parts sold on a stand-alone basis is recognized when control is transferred to the customer, which is generally at the time of shipment or delivery. Revenue from service contracts is recognized ratably over the contract period using a time-based method. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification, and preventative maintenance on a customer’s pre-defined equipment over the contract period.
Share - Based Compensation | Share-Based Compensation The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and other comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recognized $5.4 million and $10.5 million of share-based compensation expense for the three and six months ended June 30, 2025, respectively, compared to $4.5 million and $9.3 million for the corresponding periods in 2024.
Research and Development | Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.
Business Combination [Policy Text Block] | Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations using the acquisition method of accounting. The results of each acquisition are included in the Company's consolidated results as of the acquisition date. The purchase price of an acquisition is generally allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values and any consideration in excess of the net assets acquired is recognized as goodwill. The determination of the fair values of the acquired assets and assumed liabilities, including goodwill and intangible assets, require significant judgment. Acquisition transaction costs are expensed when incurred. In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the expected contingent payments as of the acquisition date. Subsequent changes in the fair value of the contingent consideration are recorded to other charges (income), net.
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07: Improvements to Reportable Segment Disclosures which requires incremental disclosures about a public entity's reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The Company adopted these annual disclosure requirements on a retrospective basis in 2024. See Note 13 for the quarterly reportable segments disclosures. In December 2023, the FASB issued ASU 2023-09: Improvements to Income Tax Disclosures, which enhances income tax disclosures, especially related to the rate reconciliation and income taxes paid information.

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