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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
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,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 442,091 |  |  | $ | 342,380 |  |  | $ | 870,218 |  |  | $ | 750,540 |
Fueling Solutions | 437,042 |  |  | 326,495 |  |  | 826,720 |  |  | 686,477 |
Imaging & Identification | 294,076 |  |  | 227,977 |  |  | 578,404 |  |  | 484,742 |
Pumps & Process Solutions | 428,701 |  |  | 309,095 |  |  | 823,078 |  |  | 628,631 |
Refrigeration & Food Equipment | 430,506 |  |  | 293,527 |  |  | 802,583 |  |  | 605,440 |
Intra-segment eliminations | (740) |  |  | (299) |  |  | (1,426) |  |  | (716) |
Total consolidated revenue | $ | 2,031,676 |  |  | $ | 1,499,175 |  |  | $ | 3,899,577 |  |  | $ | 3,155,114 |
Net earnings: |  |  |  |  |  |  |
Segment earnings (EBIT): (1) |  |  |  |  |  |  |
Engineered Products | $ | 62,720 |  |  | $ | 47,702 |  |  | $ | 131,499 |  |  | $ | 116,796 |
Fueling Solutions | 78,755 |  |  | 47,214 |  |  | 145,235 |  |  | 100,712 |
Imaging & Identification | 60,747 |  |  | 38,046 |  |  | 117,739 |  |  | 89,528 |
Pumps & Process Solutions | 138,632 |  |  | 67,702 |  |  | 262,277 |  |  | 133,781 |
Refrigeration & Food Equipment(2) | 48,971 |  |  | 11,459 |  |  | 87,088 |  |  | 34,988 |
Total segment earnings (EBIT) | 389,825 |  |  | 212,123 |  |  | 743,838 |  |  | 475,805 |
Corporate expense / other (3) | 40,762 |  |  | 27,311 |  |  | 79,382 |  |  | 51,408 |
Interest expense | 26,661 |  |  | 28,711 |  |  | 53,484 |  |  | 55,979 |
Interest income | (942) |  |  | (728) |  |  | (1,622) |  |  | (1,911) |
Earnings before provision for income taxes | 323,344 |  |  | 156,829 |  |  | 612,594 |  |  | 370,329 |
Provision for income taxes | 58,836 |  |  | 32,063 |  |  | 115,317 |  |  | 69,284 |
Net earnings | $ | 264,508 |  |  | $ | 124,766 |  |  | $ | 497,277 |  |  | $ | 301,045 |
(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 three and six months ended June 30, 2020 include a $781 expense and a $5,770 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. (3) 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 | 2021 |  | 2020 |  | 2021 |  | 2020
United States | $ | 1,091,015 |  |  | $ | 852,999 |  |  | $ | 2,127,029 |  |  | $ | 1,809,639 |
Europe | 459,074 |  |  | 320,076 |  |  | 904,369 |  |  | 681,242 |
Asia | 236,008 |  |  | 164,009 |  |  | 428,115 |  |  | 318,284 |
Other Americas | 171,891 |  |  | 112,995 |  |  | 302,068 |  |  | 242,044 |
Other | 73,688 |  |  | 49,096 |  |  | 137,996 |  |  | 103,905 |
Total | $ | 2,031,676 |  |  | $ | 1,499,175 |  |  | $ | 3,899,577 |  |  | $ | 3,155,114 |

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