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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Revenue and Earnings From Continuing Operations by Market Segment | Segment financial information and a reconciliation of segment results to consolidated results were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 516,501 |  |  | $ | 447,798 |  |  | $ | 1,518,584 |  |  | $ | 1,318,016 |
Clean Energy & Fueling | 464,022 |  |  | 410,561 |  |  | 1,416,492 |  |  | 1,237,281 |
Imaging & Identification | 282,371 |  |  | 292,535 |  |  | 830,577 |  |  | 870,939 |
Pumps & Process Solutions | 433,558 |  |  | 438,240 |  |  | 1,309,880 |  |  | 1,261,318 |
Climate & Sustainability Technologies | 462,671 |  |  | 429,425 |  |  | 1,295,913 |  |  | 1,232,008 |
Intersegment eliminations | (832) |  |  | (290) |  |  | (2,539) |  |  | (1,716) |
Total consolidated revenue | $ | 2,158,291 |  |  | $ | 2,018,269 |  |  | $ | 6,368,907 |  |  | $ | 5,917,846 |
Net earnings: |  |  |  |  |  |  |
Segment earnings: |  |  |  |  |  |  |
Engineered Products | $ | 90,145 |  |  | $ | 67,376 |  |  | $ | 242,946 |  |  | $ | 215,315 |
Clean Energy & Fueling | 90,208 |  |  | 80,101 |  |  | 262,204 |  |  | 253,103 |
Imaging & Identification | 74,477 |  |  | 70,635 |  |  | 194,467 |  |  | 200,818 |
Pumps & Process Solutions | 128,573 |  |  | 150,275 |  |  | 413,238 |  |  | 425,929 |
Climate & Sustainability Technologies | 75,190 |  |  | 49,734 |  |  | 192,980 |  |  | 150,114 |
Total segment earnings | 458,593 |  |  | 418,121 |  |  | 1,305,835 |  |  | 1,245,279 |
Purchase accounting expenses (1) | 40,526 |  |  | 35,587 |  |  | 140,831 |  |  | 106,265 |
Restructuring and other costs (benefits) (2) | 8,613 |  |  | (3,201) |  |  | 27,109 |  |  | 11,740 |
Loss on dispositions (3) | — |  |  | — |  |  | 194 |  |  | — |
Corporate expense / other (4) | 27,876 |  |  | 33,249 |  |  | 93,247 |  |  | 110,332 |
Interest expense | 29,789 |  |  | 26,433 |  |  | 83,330 |  |  | 79,917 |
Interest income | (1,244) |  |  | (1,466) |  |  | (2,968) |  |  | (3,088) |
Earnings before provision for income taxes | 353,033 |  |  | 327,519 |  |  | 964,092 |  |  | 940,113 |
Provision for income taxes | 67,007 |  |  | 63,763 |  |  | 162,295 |  |  | 179,080 |
Net earnings | $ | 286,026 |  |  | $ | 263,756 |  |  | $ | 801,797 |  |  | $ | 761,033 |
(1) Purchase accounting expenses are primarily comprised of amortization of intangible assets and charges related to fair value step-ups for acquired inventory sold during the period. (2) Restructuring and other costs relate to actions taken for employee reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Restructuring | $ | 7,315 |  |  | $ | 4,790 |  |  | $ | 19,781 |  |  | $ | 20,661 |
Other costs (benefits), net | 1,298 |  |  | (7,991) |  |  | 7,328 |  |  | (8,921) |
Restructuring and other costs (benefits) | $ | 8,613 |  |  | $ | (3,201) |  |  | $ | 27,109 |  |  | $ | 11,740 |
(3) Loss on dispositions includes working capital adjustments related to dispositions. (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 customers:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
Revenue by geography | 2022 |  | 2021 |  | 2022 |  | 2021
United States | $ | 1,252,369 |  |  | $ | 1,108,513 |  |  | $ | 3,656,930 |  |  | $ | 3,235,542 |
Europe | 426,007 |  |  | 452,066 |  |  | 1,331,835 |  |  | 1,356,435 |
Asia | 246,750 |  |  | 222,366 |  |  | 705,252 |  |  | 650,481 |
Other Americas | 166,045 |  |  | 166,230 |  |  | 467,365 |  |  | 468,298 |
Other | 67,120 |  |  | 69,094 |  |  | 207,525 |  |  | 207,090 |
Total | $ | 2,158,291 |  |  | $ | 2,018,269 |  |  | $ | 6,368,907 |  |  | $ | 5,917,846 |

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