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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Financial Information and a Reconciliation of Segment | Segment financial information and a reconciliation of segment results to consolidated results were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 473,687 |  |  | $ | 514,436 |  |  | $ | 971,236 |  |  | $ | 1,002,083 |
Clean Energy & Fueling | 441,166 |  |  | 494,075 |  |  | 871,895 |  |  | 952,470 |
Imaging & Identification | 271,932 |  |  | 275,951 |  |  | 555,023 |  |  | 548,206 |
Pumps & Process Solutions | 465,626 |  |  | 441,127 |  |  | 879,507 |  |  | 876,322 |
Climate & Sustainability Technologies | 449,001 |  |  | 434,164 |  |  | 904,326 |  |  | 833,242 |
Intersegment eliminations | (1,326) |  |  | (1,038) |  |  | (2,878) |  |  | (1,707) |
Total consolidated revenue | $ | 2,100,086 |  |  | $ | 2,158,715 |  |  | $ | 4,179,109 |  |  | $ | 4,210,616 |
Net earnings: |  |  |  |  |  |  |
Segment earnings: |  |  |  |  |  |  |
Engineered Products | $ | 73,076 |  |  | $ | 81,671 |  |  | $ | 157,351 |  |  | $ | 152,801 |
Clean Energy & Fueling | 83,616 |  |  | 99,034 |  |  | 157,221 |  |  | 171,996 |
Imaging & Identification | 61,336 |  |  | 61,392 |  |  | 129,651 |  |  | 119,990 |
Pumps & Process Solutions | 129,337 |  |  | 138,048 |  |  | 244,581 |  |  | 284,665 |
Climate & Sustainability Technologies | 76,074 |  |  | 64,181 |  |  | 149,852 |  |  | 117,790 |
Total segment earnings | 423,439 |  |  | 444,326 |  |  | 838,656 |  |  | 847,242 |
Purchase accounting expenses (1) | 40,200 |  |  | 47,019 |  |  | 82,879 |  |  | 100,305 |
Restructuring and other costs (2) | 18,143 |  |  | 7,944 |  |  | 32,196 |  |  | 18,496 |
Loss on dispositions (3) | — |  |  | — |  |  | — |  |  | 194 |
Corporate expense / other (4) | 33,922 |  |  | 27,967 |  |  | 73,994 |  |  | 65,371 |
Interest expense | 33,804 |  |  | 26,989 |  |  | 68,018 |  |  | 53,541 |
Interest income | (2,653) |  |  | (949) |  |  | (4,744) |  |  | (1,724) |
Earnings before provision for income taxes | 300,023 |  |  | 335,356 |  |  | 586,313 |  |  | 611,059 |
Provision for income taxes | 57,784 |  |  | 45,738 |  |  | 115,500 |  |  | 95,288 |
Net earnings | $ | 242,239 |  |  | $ | 289,618 |  |  | $ | 470,813 |  |  | $ | 515,771 |
(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 headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Restructuring | $ | 16,399 |  |  | $ | 4,309 |  |  | $ | 28,875 |  |  | $ | 12,466 |
Other costs, net | 1,744 |  |  | 3,635 |  |  | 3,321 |  |  | 6,030 |
Restructuring and other costs | $ | 18,143 |  |  | $ | 7,944 |  |  | $ | 32,196 |  |  | $ | 18,496 |
(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 and digital overhead costs, deal related expenses and various administrative expenses relating to the corporate headquarters.
Schedule of Revenue Disaggregated by Geography based on the Location | The following table presents revenue disaggregated by geography based on the location of the Company's customers:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Revenue by geography | 2023 |  | 2022 |  | 2023 |  | 2022
United States | $ | 1,161,982 |  |  | $ | 1,253,061 |  |  | $ | 2,333,346 |  |  | $ | 2,404,561 |
Europe | 446,307 |  |  | 458,263 |  |  | 879,148 |  |  | 905,828 |
Asia | 230,805 |  |  | 229,116 |  |  | 445,655 |  |  | 458,502 |
Other Americas | 168,573 |  |  | 149,728 |  |  | 340,758 |  |  | 301,320 |
Other | 92,419 |  |  | 68,547 |  |  | 180,202 |  |  | 140,405 |
Total | $ | 2,100,086 |  |  | $ | 2,158,715 |  |  | $ | 4,179,109 |  |  | $ | 4,210,616 |

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