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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2024
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 514,837 |  |  | $ | 473,687 |  |  | $ | 1,057,977 |  |  | $ | 971,236 |
Clean Energy & Fueling | 463,014 |  |  | 441,166 |  |  | 908,067 |  |  | 871,895 |
Imaging & Identification | 287,593 |  |  | 271,932 |  |  | 564,399 |  |  | 555,023 |
Pumps & Process Solutions | 477,239 |  |  | 465,626 |  |  | 942,968 |  |  | 879,507 |
Climate & Sustainability Technologies | 436,706 |  |  | 449,001 |  |  | 800,998 |  |  | 904,326 |
Intersegment eliminations | (1,127) |  |  | (1,326) |  |  | (2,206) |  |  | (2,878) |
Total consolidated revenue | $ | 2,178,262 |  |  | $ | 2,100,086 |  |  | $ | 4,272,203 |  |  | $ | 4,179,109 |
Net earnings: |  |  |  |  |  |  |
Segment earnings: |  |  |  |  |  |  |
Engineered Products | $ | 101,247 |  |  | $ | 73,076 |  |  | $ | 205,216 |  |  | $ | 157,351 |
Clean Energy & Fueling | 87,536 |  |  | 83,616 |  |  | 157,211 |  |  | 157,221 |
Imaging & Identification | 75,786 |  |  | 61,336 |  |  | 145,745 |  |  | 129,651 |
Pumps & Process Solutions | 137,217 |  |  | 129,337 |  |  | 255,954 |  |  | 244,581 |
Climate & Sustainability Technologies | 79,127 |  |  | 76,074 |  |  | 129,886 |  |  | 149,852 |
Total segment earnings | 480,913 |  |  | 423,439 |  |  | 894,012 |  |  | 838,656 |
Purchase accounting expenses (1) | 45,697 |  |  | 40,200 |  |  | 91,248 |  |  | 82,879 |
Restructuring and other costs (2) | 11,590 |  |  | 18,143 |  |  | 36,274 |  |  | 32,196 |
Loss (gain) on disposition (3) | 663 |  |  | — |  |  | (529,280) |  |  | — |
Corporate expense / other (4) | 41,380 |  |  | 33,922 |  |  | 83,697 |  |  | 73,994 |
Interest expense | 32,374 |  |  | 33,804 |  |  | 68,739 |  |  | 68,018 |
Interest income | (4,080) |  |  | (2,653) |  |  | (8,837) |  |  | (4,744) |
Earnings before provision for income taxes | 353,289 |  |  | 300,023 |  |  | 1,152,171 |  |  | 586,313 |
Provision for income taxes | 71,467 |  |  | 57,784 |  |  | 238,128 |  |  | 115,500 |
Net earnings | $ | 281,822 |  |  | $ | 242,239 |  |  | $ | 914,043 |  |  | $ | 470,813 |
(1) Purchase accounting expenses are primarily comprised of amortization of acquired intangible assets. (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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restructuring | $ | 9,137 |  |  | $ | 16,399 |  |  | $ | 27,792 |  |  | $ | 28,875 |
Other costs, net | 2,453 |  |  | 1,744 |  |  | 8,482 |  |  | 3,321 |
Restructuring and other costs | $ | 11,590 |  |  | $ | 18,143 |  |  | $ | 36,274 |  |  | $ | 32,196 |
(3) Loss (gain) on disposition due to the sale of De-Sta-Co in the Engineered Products segment. (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 | 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 1,296,776 |  |  | $ | 1,161,982 |  |  | $ | 2,519,468 |  |  | $ | 2,333,346 |
Europe | 411,381 |  |  | 446,307 |  |  | 844,294 |  |  | 879,148 |
Asia | 200,459 |  |  | 230,805 |  |  | 403,533 |  |  | 445,655 |
Other Americas | 201,871 |  |  | 168,573 |  |  | 366,174 |  |  | 340,758 |
Other | 67,775 |  |  | 92,419 |  |  | 138,734 |  |  | 180,202 |
Total | $ | 2,178,262 |  |  | $ | 2,100,086 |  |  | $ | 4,272,203 |  |  | $ | 4,179,109 |

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