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Segment Information (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Revenue:
Engineered Products			$	447,798					$	386,562					$	1,318,016					$	1,137,102
Fueling Solutions			410,561						380,511						1,237,281						1,066,988
Imaging & Identification			292,535						265,690						870,939						750,432
Pumps & Process Solutions			438,240						347,875						1,261,318						976,506
Refrigeration & Food Equipment			429,425						368,395						1,232,008						973,835
Intra-segment eliminations			(290)						(777)						(1,716)						(1,493)
Total consolidated revenue			$	2,018,269					$	1,748,256					$	5,917,846					$	4,903,370
Net earnings:
Segment earnings (EBIT): (1)
Engineered Products (2)			$	71,717					$	64,890					$	203,216					$	181,686
Fueling Solutions			65,593						66,601						210,828						167,313
Imaging & Identification			63,419						51,928						181,158						141,456
Pumps & Process Solutions			142,414						89,786						404,691						223,567
Refrigeration & Food Equipment(3)			42,841						40,159						129,929						75,147
Total segment earnings (EBIT)			385,984						313,364						1,129,822						789,169
Corporate expense / other (4)			33,498						35,603						112,880						87,011
Interest expense			26,433						27,724						79,917						83,703
Interest income			(1,466)						(960)						(3,088)						(2,871)
Earnings before provision for income taxes			327,519						250,997						940,113						621,326
Provision for income taxes			63,763						50,697						179,080						119,981
Net earnings			$	263,756					$	200,300					$	761,033					$	501,345

(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) Q3 2021 includes a $9,078 payment received for previously incurred restructuring costs related to a product line exit.

(3) The three and nine months ended September 30, 2020 include a $557 expense and a $5,213 gain on the sale of AMS Chino, respectively. The nine months ended September 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 September 30,												Nine Months Ended September 30,
Revenue by geography			2021						2020						2021						2020
United States			$	1,108,513					$	952,548					$	3,235,542					$	2,762,187
Europe			452,066						383,867						1,356,435						1,065,109
Asia			222,366						207,474						650,481						525,758
Other Americas			166,230						138,060						468,298						380,104
Other			69,094						66,307						207,090						170,212
Total			$	2,018,269					$	1,748,256					$	5,917,846					$	4,903,370

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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

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Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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