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Segment Information (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenue: |  |  |  |  |  |  |
Engineered Products | $ | 296,117 |  |  | $ | 309,431 |  |  | $ | 914,234 |  |  | $ | 922,794 |
Clean Energy & Fueling | 500,685 |  |  | 466,959 |  |  | 1,408,752 |  |  | 1,338,854 |
Imaging & Identification | 283,966 |  |  | 276,179 |  |  | 848,365 |  |  | 831,202 |
Pumps & Process Solutions | 472,463 |  |  | 431,373 |  |  | 1,415,431 |  |  | 1,310,880 |
Climate & Sustainability Technologies | 431,127 |  |  | 475,911 |  |  | 1,232,125 |  |  | 1,380,237 |
Intersegment eliminations | (816) |  |  | (1,425) |  |  | (2,864) |  |  | (4,303) |
Total consolidated revenue | $ | 1,983,542 |  |  | $ | 1,958,428 |  |  | $ | 5,816,043 |  |  | $ | 5,779,664 |
Earnings from continuing operations: |  |  |  |  |  |  |
Segment earnings: |  |  |  |  |  |  |
Engineered Products | $ | 56,621 |  |  | $ | 63,525 |  |  | $ | 171,248 |  |  | $ | 156,461 |
Clean Energy & Fueling | 99,536 |  |  | 92,483 |  |  | 256,747 |  |  | 249,704 |
Imaging & Identification | 77,247 |  |  | 70,316 |  |  | 222,992 |  |  | 199,967 |
Pumps & Process Solutions | 138,277 |  |  | 117,907 |  |  | 394,231 |  |  | 362,488 |
Climate & Sustainability Technologies | 76,015 |  |  | 84,060 |  |  | 205,901 |  |  | 233,912 |
Total segment earnings | 447,696 |  |  | 428,291 |  |  | 1,251,119 |  |  | 1,202,532 |
Purchase accounting expenses (1) | 48,356 |  |  | 38,956 |  |  | 136,875 |  |  | 118,203 |
Restructuring and other costs (2) | 16,581 |  |  | 11,581 |  |  | 52,142 |  |  | 43,777 |
Gain on dispositions (3) | (68,633) |  |  | — |  |  | (597,913) |  |  | — |
Corporate expense / other (4) | 36,110 |  |  | 30,937 |  |  | 117,795 |  |  | 105,376 |
Interest expense | 34,128 |  |  | 32,390 |  |  | 102,867 |  |  | 100,407 |
Interest income | (5,176) |  |  | (3,808) |  |  | (14,013) |  |  | (8,552) |
Earnings before provision for income taxes | 386,330 |  |  | 318,235 |  |  | 1,453,366 |  |  | 843,321 |
Provision for income taxes | 73,434 |  |  | 56,252 |  |  | 291,781 |  |  | 157,636 |
Earnings from continuing operations | $ | 312,896 |  |  | $ | 261,983 |  |  | $ | 1,161,585 |  |  | $ | 685,685 |
(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 September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restructuring | $ | 13,837 |  |  | $ | 4,385 |  |  | $ | 41,629 |  |  | $ | 33,260 |
Other costs, net | 2,744 |  |  | 7,196 |  |  | 10,513 |  |  | 10,517 |
Restructuring and other costs | $ | 16,581 |  |  | $ | 11,581 |  |  | $ | 52,142 |  |  | $ | 43,777 |
(3) Gain on dispositions including post-closing adjustments, see Note 4 — Discontinued and Disposed Operations for further details. (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 September 30, |  | Nine Months Ended September 30,
Revenue by geography | 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 1,099,830 |  |  | $ | 991,661 |  |  | $ | 3,185,188 |  |  | $ | 2,972,261 |
Europe | 406,556 |  |  | 433,066 |  |  | 1,250,813 |  |  | 1,312,165 |
Asia | 206,548 |  |  | 235,184 |  |  | 609,848 |  |  | 680,539 |
Other Americas | 190,829 |  |  | 182,808 |  |  | 551,839 |  |  | 518,908 |
Other | 79,779 |  |  | 115,709 |  |  | 218,355 |  |  | 295,791 |
Total | $ | 1,983,542 |  |  | $ | 1,958,428 |  |  | $ | 5,816,043 |  |  | $ | 5,779,664 |

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