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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Revenue and earnings from continuing operations by market segment | Segment financial information and a reconciliation of segment results to consolidated results was as follows:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 342,380 |  |  | $ | 429,928 |  |  | $ | 750,540 |  |  | $ | 848,779 |
Fueling Solutions | 326,495 |  |  | 390,586 |  |  | 686,477 |  |  | 763,636 |
Imaging & Identification | 227,977 |  |  | 266,588 |  |  | 484,742 |  |  | 534,942 |
Pumps & Process Solutions | 309,095 |  |  | 338,924 |  |  | 628,631 |  |  | 669,143 |
Refrigeration & Food Equipment | 293,527 |  |  | 385,474 |  |  | 605,440 |  |  | 720,117 |
Intra-segment eliminations | (299) |  |  | (794) |  |  | (716) |  |  | (1,154) |
Total consolidated revenue | $ | 1,499,175 |  |  | $ | 1,810,706 |  |  | $ | 3,155,114 |  |  | $ | 3,535,463 |
Net earnings: |  |  |  |  |  |  |
Segment earnings (EBIT): (1) |  |  |  |  |  |  |
Engineered Products | $ | 47,702 |  |  | $ | 77,129 |  |  | $ | 116,796 |  |  | $ | 144,248 |
Fueling Solutions | 47,214 |  |  | 52,637 |  |  | 100,712 |  |  | 89,867 |
Imaging & Identification | 38,046 |  |  | 54,641 |  |  | 89,528 |  |  | 110,596 |
Pumps & Process Solutions (2) | 67,702 |  |  | 76,278 |  |  | 133,781 |  |  | 91,269 |
Refrigeration & Food Equipment(3) | 11,459 |  |  | 44,375 |  |  | 34,988 |  |  | 69,182 |
Total segment earnings (EBIT) | 212,123 |  |  | 305,060 |  |  | 475,805 |  |  | 505,162 |
Corporate expense / other (4) | 27,311 |  |  | 24,512 |  |  | 51,408 |  |  | 55,378 |
Interest expense | 28,711 |  |  | 31,754 |  |  | 55,979 |  |  | 63,562 |
Interest income | (728) |  |  | (945) |  |  | (1,911) |  |  | (1,835) |
Earnings before provision for income taxes | 156,829 |  |  | 249,739 |  |  | 370,329 |  |  | 388,057 |
Provision for income taxes | 32,063 |  |  | 51,654 |  |  | 69,284 |  |  | 84,267 |
Net earnings | $ | 124,766 |  |  | $ | 198,085 |  |  | $ | 301,045 |  |  | $ | 303,790 |
(1) Segment earnings (EBIT) includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of a business and other income, net. (2) The six months ended June 30, 2019 includes a $46,946 loss on assets held for sale for Finder. (3) The three and six months ended June 30, 2020 include a $781 expense and a $5,770 net gain on the sale of AMS Chino, respectively. The three and six months ended June 30, 2020 also include a $3,640 write-off of assets. (4) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services overhead costs, deal related expenses and various administrative expenses relating to the corporate headquarters.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | The following table presents revenue disaggregated by geography based on the location of the Company's customer:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
Revenue by geography | 2020 |  | 2019 |  | 2020 |  | 2019
United States | $ | 852,999 |  |  | $ | 960,906 |  |  | $ | 1,809,639 |  |  | $ | 1,880,798 |
Europe | 320,076 |  |  | 405,274 |  |  | 681,242 |  |  | 807,919 |
Asia | 164,009 |  |  | 198,278 |  |  | 318,284 |  |  | 394,628 |
Other Americas | 112,995 |  |  | 178,216 |  |  | 242,044 |  |  | 316,334 |
Other | 49,096 |  |  | 68,032 |  |  | 103,905 |  |  | 135,784 |
Total | $ | 1,499,175 |  |  | $ | 1,810,706 |  |  | $ | 3,155,114 |  |  | $ | 3,535,463 |

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